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]

On the heels of OVE.com’s second annual Independent Auction Summit, the company announced it is bringing back the Strive 4 Five promotion — which provides participants with financial incentives to “capitalize on the incremental dealer business opportunity OVE.com provides," “Not only are partners able to use OVE.com as a defensive and offensive tool, they’re able […] [Read More]

Though he contends the primary cause of wholesale values dipping sequentially in August was the economic worries of consumers, RVI Group vice president Rene Abdalah said that after the recent run-up in used prices, “an adjustment was due.” The latest RVI Market Update indicates that wholesale values during August dipped 0.7 percent from July but […] [Read More]

The wholesale value decline for both trucks and cars accelerated last week, according to Black Book managing editor Ricky Beggs, who spotted the steepest drop-off for truck values in almost a year. What’s more, last week marked the sixth straight time that all 10 car segments declined in price, he noted in the latest “Beggs […] [Read More]

Manheim has received workplace honors from AARP yet again, as the organization named the auction company to its list of “Best Employees for Workers over 50” for the third time. Manheim came in at No. 27 on AARP’s list and also made the rankings in 2008 and 2009. There were no such awards last year. […] [Read More]

Wholesale values were up on a month-over-month basis across all segments in Canada during August, as overall auction prices climbed 2 percentage points sequentially while also showing a double-digit year-over-year increase, according to OPENLANE. More specifically, the company’s Canadian Market Index came in at 107 in August, up from 105 in July and 97 in […] [Read More]