Fimalac S.A., the French parent company of global ratings agency Fitch Group, recently revealed it is selling an additional 10 percent in the ratings agency to Hearst Corp., parent of Black Book. This brings Hearst to a 50 percent equity stake in Fitch.   The transaction is valued at $177 million. Hearst acquired its original interest in Fitch […] [Read More]

NADA Used Car Guide discovered that AuctionNet wholesale prices followed a familiar upward course in January. Although senior analyst Jonathan Banks indicated the 1-percent mileage-and-mix adjusted rate of appreciation was a bit less than what he’s seen in recent years following the transition from December. “This being said, the slowing rate of appreciation was expected […] [Read More]

A bomb scare. A hurricane taking an unusual route and barreling toward the Northeast. Historic flooding. A fatal accident. Rare as these events may be, they all have impacted U.S. auctions in the past year. While disasters, accidents and criminal activity can be equally scary and unpredictable, auctions typically have procedures in place to prepare […] [Read More]

Westlake Financial Services recently recognized its top auction partners and earning designation as its overall 2011 Auction of the Year was Norwalk Auto Auction. “Norwalk Auto Auction is the little auction with big results. A two-lane sale just 15 miles from downtown Los Angeles, Norwalk produces high scores for sale and service standards on a […] [Read More]

Kelley Blue Book announced late Tuesday that president Paul Johnson has resigned from his position effective immediately. Taking on the role as president for KBB will be AutoTrader.com vice president Jared Rowe. Rowe is currently vice president of product management for AutoTrader.com in Atlanta, Ga. Rowe’s new role is effective immediately. Kelley Blue Book was […] [Read More]

El Paso Independent Auto Auction recently commemorated its first year in business with a special anniversary sale which followed a celebratory party the preceding evening. EPIAA hosted customers and their guests at Rosa’s Cantina — a famous local Mexican restaurant — for dinner, drinks and a performance from The Cronkites on Feb. 7 then held […] [Read More]

RM Auctions, in association with Sotheby’s, will be offering  one of the world’s most famous private museums, the Milhous Collection, during a multi-day sale to be held February 24 – 25 in Boca Raton, Fla. “The result of over five decades of judicious collecting by brothers Bob and Paul Milhous, the extraordinary collection features an […] [Read More]

 It’s all about empowerment at Stew Hansen Dodge Ram Chrysler Jeep. To achieve the distinction of being Chrysler’s top certified pre-owned dealership, used-car director Doyle Miller has put the tools of CPO success in the hands of his employees. He makes sure everyone at the Urbandale, Iowa, store buys into the program, and pushes staff […] [Read More]

The proportion of positive value adjustments in the wholesale market has been relatively stable in recent weeks, according to Black Book’s Ricky Beggs, who has found the truck side of the market to be more consistent than cars. As for the number of adjustments, these have been climbing to significant heights. [Read More]

Mountain State Auto Auction recently revealed to Auto Remarketing the addition of a sixth lane to the facility, as well as a two-story office complex. Explaining the lane addition, officials said they were spurred by the 20-percent hike in new-car trade business. “Many dealers are finding our personalized service and individual account management results in […] [Read More]