Wholesale
Webb: Lack of Sales into Rental Creates Record Wholesale Prices for Off-Rental Vehicles
Friday, Apr. 8, 2011, 05:59 AM
Nick Zulovich
If you’re a used-car manager scouring the lanes or online channels looking for off-rental units and are having trouble finding any for a reasonable price, evidently you’re not alone. Manheim’s Tom Webb shared during his quarterly conference call that coincided with the latest update on the Manheim Used Vehicle Value Index that despite a March […] [Read More]
Beggs Sees Continued Momentum for Both Used Car, Truck Segments
Thursday, Apr. 7, 2011, 05:59 AM
Auto Remarketing Editor Joe Overby
The momentum in used-vehicle pricing continued to roll along last week, according to Black Book’s Ricky Beggs, who found that almost three-quarters of the wholesale value adjustments made during the week were positive movements. Moreover, used-truck prices were up for the third straight week, despite gas prices jumping. Meanwhile car prices climbed for the fifth […] [Read More]
NADAguides: Used-Price Hike Stronger Than Anticipated
Wednesday, Apr. 6, 2011, 03:25 PM
Auto Remarketing Staff
In light of the aftermath of the disaster in Japan as well as skyrocketing gas prices, there has been a steeper-than-projected spike in used-vehicle prices on both the retail and wholesale fronts, according to NADAguides. The company suggests these increases will likely stick around for the next three months or longer. “With a tight supply of used […] [Read More]
KAR Auction Services Acquires AuctionTrac
Monday, Apr. 4, 2011, 08:00 AM
Auto Remarketing Staff
On Friday, KAR Auction Services announced the purchase of AuctionTrac, a company that specializes in offering satellite-based GPS technology for vehicle tracking. “This acquisition allows us to overcome what has been a long-standing obstacle in the auto remarketing industry, an efficient and reliable method for locating and tracking vehicles,” explained David Vignes, executive vice president of enterprise […] [Read More]
Banks: Price Increases on Models in Demand Are Here to Stay for Short Term
Friday, Apr. 1, 2011, 05:58 AM
Auto Remarketing Staff
NADA Used Car Guide is seeing the price of smaller, fuel-efficient cars spike as the market reacts to the Japan disaster. And as such, the company said NADA values for April will reflect this increase. And if Japan cannot restore power soon, NADA Used Car Guide is predicting that these higher prices at auction on the […] [Read More]
uShip Sets 1Q Vehicle, Motorcycle Transport Volume Records
Friday, Apr. 1, 2011, 05:56 AM
Auto Remarketing Staff
The first quarter has been a busy one for uShip, which saw a company-record $7.6 million in vehicle and motorcycle shipping transacted on its site. That amount marked an increase of 24 percent over the fourth quarter of last year — which was uShip’s previous high — and 33 percent above 2010’s first quarter. Officials […] [Read More]
Beggs: Japanese Quake Fallout Building Bidding Momentum as Many Auctions See 70% Conversions
Wednesday, Mar. 30, 2011, 06:00 AM
Auto Group Editor Jennifer Reed
In his latest Black Book video, Rick Beggs describes dealers’ amazement in the lanes as they were shaking their heads, continuing to bid again and again to get more inventory. While supply has been slow, one newer factor possibly fueling dealers bids could be the potential lack of new Japanese models as that country continues […] [Read More]
CLR Auto Transport Unveils New Fleet Division
Wednesday, Mar. 30, 2011, 05:57 AM
Auto Remarketing Staff
CLR Auto Transport launched a new division on Tuesday dedicated to commercial fleet transportation, transfer services and vehicle storage. Company officials indicated this new division will be known as Fleet Care Transport and will be headquartered at the CLR Auto Transport office in Merrillville, Ind. Fleet Care Transport intends to provide professional driver transportation and […] [Read More]
Copart UK Limited Acquires Hewitt International
Wednesday, Mar. 30, 2011, 05:56 AM
Auto Remarketing Staff
Copart recently announced that its UK subsidiary Copart UK Limited has completed the acquisition of privately held Hewitt International. Hewitt International, founded in 1946, is a vehicle salvage business with a strong focus on agricultural vehicle auctions. The purchase of Hewitt International will bring to members of www.copart.co.uk a larger range of agricultural equipment and […] [Read More]
Black Book: Values Increase Across the Board for Car Segments
Wednesday, Mar. 23, 2011, 06:00 AM
Auto Remarketing Editor Joe Overby
In evaluating pricing trends in the wholesale marketplace over the past week, Black Book’s Ricky Beggs spotted a first for 2011: The values in each of the 10 car segments that Black Book monitors climbed last week. “The activity at many auctions could easily be described as amazingly strong,” said Beggs, Black Book’s managing editor. […] [Read More]