Tom Kontos noticed seasonal movement when ADESA Analytical Services completed its monthly analysis of wholesale used-vehicle prices by vehicle model class. ADESA determined wholesale used vehicle prices in March averaged $10,028 — a level 2.9 percent higher compared to February but 5.6 percent lower relative to the same month last year. “Wholesale used vehicle prices […] [Read More]

Manheim revealed Thursday it has names a chief technology office. Manheim has selected Michael Noel for the role. Noel will report to executive vice president and chief operating officer Janet Barnard, effective May 6.   In his new role, Noel will lead Manheim’s technology systems, applications and operations.  “We are thrilled to have Michael join […] [Read More]

In his post-sale report for Tuesday, John Brasher of Brasher’s Sacramento Auto Auction noted a particular used segment showing well in the lanes this week. With dealers reporting good retail sales of late, Brasher said what’s “piping hot” on the used side is the market for cars priced at $12,000 to $15,000 and under. “We […] [Read More]

With industry recognition to announce and an expansion in planning, one auction group is celebrating its success. Dealer's Auto Auction — a group of four wholesale auctions with locations in Alabama and Tennessee — this week announced that Dealer's Auto Auction of Murfreesboro has been recognized with the Emkay 100% Club Award for 2012.  “This […] [Read More]

With 10 days to go, the 2013 Auto Remarketing Canada Conference, presented by CarProof,  has over 500 registered attendees, breaking the attendance record and bringing the event even closer to selling out. Of those attendees, over 150 are dealerships. To check out which dealerships are attending, see here. [Read More]

Celebrating 10 years in business and tens of thousands of vehicles sold, Georgia-Carolina Auto Auction will celebrate this week with sales today and Friday at the company’s public auction facility in Commerce, Ga. GCAA has served as a dealer and public auction since 2003. The company announced its anniversary and related sales on Tuesday, and […] [Read More]

Barrett-Jackson announced Tuesday that it generated more than $21 million in gross sales of rare, high-end collectible vehicles, exotics, customs, classics, hot rods and resto-mods during its 11th annual Palm Beach auction this past week at the South Florida Fairgrounds. Despite severe thunderstorms, auction officials highlighted that more than 55,000 fans were in attendance to […] [Read More]

The overall used-vehicle price movement among car segments last week was static, but six of the 10 car categories that Black Book tracks saw their prices rise. And one was particularly noteworthy. Used prices for premium sporty cars climbed $7 for the week, something Black Book’s Ricky Beggs said he hasn’t seen happen in quite […] [Read More]

Manheim economist Tom Webb said it’s “quite easy and quite logical to assume” that used-vehicle retail sales will hit an all-time high before 2015. Webb backed up his projection by highlighting how used-vehicle retail sales during the first quarter of 2013 moved 12 percent higher year-over-year against some headwinds that are slowing other industries. According […] [Read More]

Auction Edge said Wednesday it has launched new pricing and discount opportunities for its auction clients, providing them with more options when it comes to management systems and pricing structure. The two new offerings are: EDGE ASI Premier, a new pricing structure for Auction Edge’s ASI auction management system; and EDGE Complete, a monthly discount […] [Read More]