Next month, Sanford Auto Dealers Exchange has a sale on tap that may help dealers not only shore up their used inventory, but aid in their holiday shopping, as well. On Dec. 18, SADE is hosting a 2,000-vehicle sale that will also include $50,000 in gifts for customers. The two grand prizes are a 1987 […] [Read More]

Standing at the threshold of its 25th year, ServeNet held a Meet the Owners event earlier this month that served as a time to "review the group’s history and continued strengths." ServNet auction owners and executive team met with executives from Bank of America, Hyundai Capital, Consumer Portfolio Services, Lobel Financial, Automotive Information Network, KARS-R-US, […] [Read More]

Independent auction network ServNet revealed Tuesday a new member on its board of directors. Tapped for the position is the owner and general manager of Pittsburgh Independent Auto Auction: Dave Angelicchio. [Read More]

After seeing considerable dips in prices in the past few months, adjustment rates in the lanes are slowing down, says Black Book’s  Ricky Beggs, and Hurricane Sandy may be behind the change. Beggs told Auto Remarketing, “We didn’t have any more adjustments this week over last week that were increases, but we had fewer overall […] [Read More]

RVI Group recently shared its most recent wholesale used vehicle price analysis, finding that used-car prices went up slightly in October. Analysts determined wholesale values (seasonally adjusted on two- to five-year-old vehicles) saw a small increase of 1.4 percent in October when compared to a month earlier. On a year-over-year basis, prices moved up 4.1 […] [Read More]

One way to view the car business, as Hare Chevrolet dealer principal Courtney Cole put it, is to look at it as “riches and niches.” And the used-car business is full of those “niches” of business opportunity for dealers, particularly as credit availability opens up. “As long as you get creative enough,” she said, “there […] [Read More]

Continuing its commitment to build solutions that drive business results for customers, Manheim expanded its product development leadership team with four new members. Ensuring the right products are delivered to the right people at the right time, Manheim said the new additions to the team have solid expertise in product development, strategy, deployment and portfolio […] [Read More]

Insurance Auto Auctions rolled out two new locations in Texas, increasing its footprint to a total of 12 locations in the Lone Star State. The new operations are in McAllen and Lubbock, sites the company said are critical to IAA’s continued expansion in giving providers more locations to sell their vehicles and global buyers more […] [Read More]

Black Booktook a closer look at used-vehicle value impact stemming from Hyundai and Kia admitting last week they overstated the fuel economy of models sold during the last two years. While there has been talk of broader ramifications to the brands, Black Book believes this acknowledgement will have little impact on future retention values. Black […] [Read More]

The October ADESA Canada Used Vehicle Price Index ticked higher after being adjusted for seasonality, reversing the majority of September’s decline. ADESA’s data — powered by ALG Canada — indicated wholesale prices rose on average by about 1.0 percent month-over-month. While the overall reading inched higher, ADESA found price movements by segment were mostly lower […] [Read More]