General Motors Financial announced its 2012 Auction of the Year winner as part of the company’s nationwide Auction of Excellence program. For the fourth time, this top honor went to Rawls Auto Auction of Leesville, S.C. Since 2006, GM Financial named the Auction of the Year winner at its annual Auction Summit in Arlington, Texas. […] [Read More]

The number of units flowing into the auction lanes this year is expected to jump to about 7.9 million units, according to the 2013 Used Car Market Report from Manheim. This would be a 5-percent increase from 2012, the report indicated. And while still down significantly from the 10 million-unit-mark reached in 2003, this growth […] [Read More]

Along with offering another update on how the company is navigating the costs associated with processing vehicles destroyed during Superstorm Sandy, Copart highlighted the early success of its mobile apps that were launched at the end of the second quarter of its current fiscal year. Copart said 30,000 users downloaded the apps for Android, iPhone […] [Read More]

Now in its 11th year of recognizing the top auction sites across the country, Toyota Financial Services and Lexus Financial Services awarded their 2012 Premier Auction Awards this week, the company’s highest recognition of excellence in the remarketing industry to 10 auction sites for their 2012 performances. The 2012 LFS Premier Auction Award winners are […] [Read More]

In conjunction with a new internal program focused on sustainable business practices, Manheim Seattle announced Thursday it has made a donation to the Mountain to Sound Greenway Trust. In an effort to reinforce their commitment to support local green efforts, the $12,500 gift is made in conjunction with the first-ever Cox Conserves Chairman’s Cup, an […] [Read More]

TPC Management’s professional education program, Auction Academy, began 2013 by holding two training sessions this past month.  First, the Academy’s Senior Auction Managers Group met in Orlando, Fla., and they included a visit to NADA’s conference as part of the curriculum.  Later last month, The Next Generation / Sons and Daughter Group gathered in Birmingham, […] [Read More]

Ford Motor Company of Canada Ltd.  has officially announced the award winners for the 2012 Auction Quality Program. Winners were selected based on measurements of the auction’s performance in two categories: Overall Auction Quality and Reconditioning Excellence. [Read More]

Granted, the recent retail used-car results of the big dealer groups are fruitful. But don't look past the wholesale impact of softer used-vehicle margins. Consider what Manheim's Tom Webb had to say in a blog post this week. With their fourth-quarter results pooled together, the seven publicly traded dealership groups saw their same-store used-vehicle retail […] [Read More]

Black Book announced Wednesday that it is now providing monthly valuation and pricing updates for all specialty market vehicles. This includes old cars and special markets like collectible, exotic and highline cars; as well as motorcycles and powersports, recreational vehicles and medium/heavy-duty trucks. The company explained that even though many of these markets might follow […] [Read More]

Seasonal patterns, such as an uptick in car buyers during tax season, lifted used-car pricing and wholesale activity this month, say Black Book editors. And continuing toward spring, the company said it expects "additional growth in new-car sales from pent-up demand will bring in more trade-in volume and result in a continued slow easing of […] [Read More]