A truckload of used inventory never made it to the front line. Instead the units met their fiery demise early Thursday morning. A hauler filled with nine used vehicles exploded in Miami near State Road 112 and Okeechobee Road, according to a  report from the Miami Herald. Miami Dade Fire Rescue arrived just before 2 […] [Read More]

With 2011 model-year units recently added to its data set, Black Book has provided used-vehicle value information on these two-year-old units and broke down which segments' prices have climbed the most. The firm compared the current values of 2011 model-year units to the current values of 2010 model-year units for each of its 10 car […] [Read More]

As fuel costs continued to rise to a level not seen in more than four months, Black Book noticed the combination of the holiday weekend sales performance and lenders opening the purse strings resulted in action heating up in the auction lanes this past week. In his latest wholesale market analysis, Black Book’s Ricky Beggs […] [Read More]

Revealed recently, GE Capital Fleet Services has a new leader. Named to the position of president and chief executive officer is Kristi Webb. Webb replaces Clarence Nunn, who was recently appointed chief commercial officer for GE Capital, Americas, the company reported. Webb was previously general manager of GE Capital’s Dealer Finance business that provides wholesale […] [Read More]

About three weeks after a report surfaced in late August saying that KAR Auction Services reportedly had exploratory talks about a possible leveraged buyout, Reuters had more to say on the matter Wednesday. [Read More]

There has been a new landmark reached at OVE.com. Officials with the website announced last week that OVE.com recently achieved a growth milestone of 150 independent auction partners. In celebration of the milestone, OVE.com will continue its “Strive 4 Five” promotion. This program applies to dealer-to-dealer transactions and gives partners selling via OVE.com financial incentives. […] [Read More]

As new- and used-vehicle sales strengthened, the Manheim Used Vehicle Value Index for August showed that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) declined for the fifth consecutive month. The August reading slipped to 120.7, which is down 2.4 percent from a year ago. However, when looking month-over-month, Manheim chief economist […] [Read More]

August new-vehicle sales of full-size pickup trucks climbed 16 percent, according to Black Book, which said Thursday that this increase was the strongest experienced by this segment since 2009. But it’s not just the new side of the market where pickups have shown strength. Black Book indicates that used pickups — compact, midsize and full-size […] [Read More]

Hyundai Auto Canada Corp. revealed this week it is teaming up with a Canadian hockey star in an effort to help under-resourced Quebec youth get involved in the country’s national pastime. Partnering with Montreal Canadiens defenceman P.K. Subban, the company was set to launchethe Quebec component of Hyundai Hockey Helpers earlier today. The automaker noted […] [Read More]

As dealers wrapped up what seems to be a successful Labor Day weekend for sales, Ricky Beggs, managing editor at Black Book, noted it may be time for some buyers to venture into the lanes to fill their lots back up after holding special holiday deals. [Read More]