It used to be that Joel Osserman only needed three wholesale buyers to scour auctions and pull in the necessary used units for his Waterloo, N.Y., dealership. Now, with auction prices so high these days, the president of Select EuroCars said he has 17 buyers throughout 13 states just to find the right three to […] [Read More]

Since the majority of dealers have smartphones nowadays, ADESA on Tuesday announced the creation of a mobile solution for its U.S.-based and Canada-based websites. The company explained ADESA’s mobile optimized website now can enable users registered on DealerBlock to bid on vehicles, buy vehicles and conduct the entire checkout process — all from their smartphones. […] [Read More]

Aimed at relieving dealer and auction staff stress on sale day, AutoTec’s AuctionACCESS and Automotive Finance Corp. announced they have aligned resources to offer credit-line availability and automated flooring capabilities directly to auctions via their auction management systems. Both companies believe the solution can significantly increase auction staff efficiency and customer service with quicker dealer checkouts on […] [Read More]

As all vehicle segments Black Book tracks dropped again last week, managing editor Ricky Beggs noticed only once in the past year has the company averaged more daily adjustments. In his latest online video post, “Beggs on the Used Car Market,” the Black Book veteran began by insisting last week was a very active market […] [Read More]

In an effort to streamline the online wholesale process for dealers, auctions, OEMs and financial institutions alike, Internet marketing solutions company Liquid Motors revealed Monday its new wholesale auction management software. “One Click” software, designed to simplify the process of placing inventory on online wholesale marketplaces, allows users full access integration to start, stop and […] [Read More]

Regulations force remarketing of repossessed vehicles to take a certain amount of time, but Consolidated Asset Recovery Systems believes its two newest partnerships can allow lenders to use that time as efficiently as possible. Geared to leverage potential both on the wholesale and retail fronts, CARS recently forged relationships with Copart and Asset Nation to […] [Read More]

August marked the first increase in wholesale values for the Canadian market in five months, according to the ADESA Canada Used Vehicle Price Index report. Specifically, ADESA’s data — powered by ALG Canada — indicates that the index showed a 0.15-percentage-point sequential hike, seasonally adjusted. Wholesale prices climbed 1.1 percent month-over-month, officials indicated, noting that […] [Read More]

Pushed by the value of the Canadian dollar falling, wholesale prices in Canada during August were up by more than 2 percent sequentially and more than 6 percent year-over-year, according to RVI Group. Specifically, the RVI Used Car Price Index for Canada came in at 1.023, up from 1.002 in July and 0.963 in August […] [Read More]

The nature and size of the schemes are often wide-ranging, and the devices used to perpetuate the fraud can be purchased inexpensively. And auctions ought to be on alert. That’s the message that Frank Hackett — executive director of the National Auto Auction Association — is trying to get across to his association’s members. Apparently, […] [Read More]

Agreeing with other wholesale industry analysts, ADESA’s Tom Kontos also discovered August prices softened both month-over-month and year-over-year. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, wholesale prices in August averaged $9,881, which was down 1.0 percent compared to July and 1.2 percent lower than August of last year. […] [Read More]