While the selection of hybrid models in the U.S. has more than doubled since 2007, Polk discovered this week that only 35 percent of hybrid vehicle owners choose to purchase a hybrid again when returning to market in 2011. If repurchase behavior among the high volume audience of Toyota Prius owners isn’t factored in, Polk […] [Read More]

Just last week, at the Barrett-Jackson Palm Beach auction, one special unit was sold not once, but twice. The sales of the wrapped special-edition 2011 Ford Shelby GT500, signed by veterans, their family members and supporters, raised $1,000,200 for Wounded Warriors Family Support. [Read More]

Sales of used vehicles by National Auto Auction Association members last year totaled 7.7 million units worth $73 billion, according to the organization’s 15th annual survey revealed on Monday.  The survey determined the number of vehicles entering the auctions decreased by 1.6 percent to 13.7 million, and the percentage of units sold was down 3.5 […] [Read More]

Manheim’s Tom Webb believes dealer consignment vehicles are fetching record prices, and a California used car manager has no reason to doubt it. During his quarterly conference call on Monday to discuss the wholesale market, Webb revealed dealer consignment prices hit $10,400, what he said was “an all-time high.” Manheim Consulting research showed dealer consignment […] [Read More]

When the winner of the 2012 World Automobile Auctioneers Championship was awarded, it marked a historic day for the 24-year-old competition. Becoming the first woman ever to take the World Champion title was Cheri Boots-Sutton of Belton, Mo., who competed 10 times before taking home the top prize this year. Her win came with a championship trophy, […] [Read More]

American Auto Auction Group recently rolled out its 14th location, broadening its footprint in Florida. AAAG’s newest auction property is Your Auction of Pasco located in Holiday, Fla.  The new facility held its first sale on March 13 and will conduct weekly auctions on Tuesdays at 4 p.m. ET. AAAG founding member, director and chief […] [Read More]

Just a couple of months after Black Book brought in Jeff Bunch to be its director of automotive licensing, the firm promoted the industry veteran to a new position on Wednesday. Black Book announced Bunch has been elevated to vice president of lender solutions. In this role, Bunch will be responsible for leading Black Book’s […] [Read More]

BB&T Corp. revealed its 2011 Auction of the Year on Wednesday along with a pair of other accolades. Recognized for providing top sales results, sales percentage and expenses relative to liquidation for both BB&T and its affiliate Regional Acceptance, was the 2011 Auction of the Year winner ADESA Lexington. BB&T asset remarketing manager Neil Boardman […] [Read More]

ADESA promoted two executives Tuesday to the roles of vice president of business operations, effective immediately. Rising to the positions are Doug Shore and Sanjiv Agrawal, who will both report directly to Paul Lips, executive vice president of operations and finance.  ADESA noted Shore has held a number of corporate and auction leadership roles within […] [Read More]

America’s Auto Auction Chicago recently picked up an honor from SmartAuction. SmartAuction vice president Steve Kapusta presented the operation with the 2011 Greatest Year-Over-Year Growth Award. Accepting the honor for America’s Auto Auction Chicago was general manager Larry Hero, Internet sales manager Mark Super, fleet/lease/business development manager Fred Uhter and Internet salesperson Natalie Markham Also […] [Read More]