Much to what will likely be dealer chagrin, wholesale prices are rising steadily as we approach the spring season. According to the ADESA Canada Used Vehicle Price Index, which has been updated through January, wholesale prices rose on average by about 1.6 percent, compared to the last month of 2012. Officials explained the index was […] [Read More]

Auction Edge launched a beta program Wednesday of its mobile check-in application.   Mobile check-in allows auction staff to check-in vehicles using their mobile device of choice, supporting both iOS and Android phones and tablets. [Read More]

Along with handing out its top annual award, the American International Automobile Dealers Association announced its 2013 chair during its 43rd annual meeting and luncheon on Monday. Taking on the role is Jenell Ross, a dealer from Centerville, Ohio. “Our brands, more than ever before, are America’s brands — and I’m going to tell that […] [Read More]

After discussing 2012 repossession volume and where levels could be heading, Manheim explained how the remarketing of repo units remains a “struggle” as auto finance companies are looking to move substantial volume upstream and online. Manheim acknowledged lenders are focused on converting repossessed units into cash as quickly as possible. Although the biggest stumbling block […] [Read More]

Since the Internal Revenue Service needed more time to get online tax filing systems up and running so potential used-vehicle buyers could get refunds, Black Book found that dealers are talking up “spring market” and “tax time” as they walk the lanes nowadays. Black Book managing editor Ricky Beggs said this year’s electronic filing date […] [Read More]

The first Manheim Used Vehicle Value Index reading of 2013 represented a 1.8-percent decline from a year ago, settling at 123.4. As a result, wholesale prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.6 percent in January. Manheim said that absent the seasonal adjustment, the decline in vehicle values was half that […] [Read More]

Pittsburgh Independent Auto Auction recently announced several major organizational changes involving key personnel.  Promoted to general manager is Chris Angelicchio, who has  worked in various positions at PIAA for more than 10 years including serving as assistant general manager for the past 5 years, the company shared. Furthermore, Aaron Bell has been appointed director of […] [Read More]

Late last week, Insurance Auto Auctions launched I-Pay through its IAA Buyer App for Apple, saying it is the first company in the industry to introduce payment services for salvage buyers via an app. The company explained that I-Pay can offer qualified buyers with a U.S. bank account the ability to pay for vehicle purchases […] [Read More]

In looking at business cycles of the past, Tom Webb noticed that each time new-vehicle sales rose coming out of a recovery, franchised dealers often lost focus on the used-car side of the business. But not this time around, said Manheim’s chief economist, noting the improvements in the dealer body. [Read More]

Off-lease volume will grow this year and eventually pass 2.4 million units in 2015. That’s the word from Manheim’s Tom Webb, who gave an overview Saturday at the NADA Convention & Expo of the trends in the 2013 Used Car Market Report released this morning. Back in the early part of this new century, off-lease […] [Read More]