The wholesale market experienced far-reaching declines in vehicle values last month, according to NADA Used Car Guide, which attributed the sweeping price drops to a trio of factors. Analysts said a combination of seasonality, rental fleet volume increases and slowing demand for fuel-friendly rides helped drive the widespread sequential drop in wholesale prices. [Read More]

The International Automotive Remarketers Alliance has brought in yet another member to the group. Added to the list of consignors in the alliance is Porsche Cars North America. Another recent company to sign on to IARA is Dealer Services Corp. of Indiana, which joined Sept. 9, as reported by Auto Remarketing. “Porsche Cars North America […] [Read More]

For auction executives and dealers looking ahead to what might be happening within the industry, the economy and beyond, the National Auto Auction Association is assembling a free Webinar to provide some answers. The session titled, “Up, Down, Or Sideways — What Next for the Economy and Motor Vehicles?” is scheduled for 2 p.m. ET […] [Read More]

The recent surge in wholesale prices apparently isn’t over, but the near future is likely to see an extended slowdown in values, according to the RVI Group. Following what the firm believes will end up being a 14.1-percent year-over-year increase in the RVI Used Car Price Index for full-year 2011, wholesale prices are projected to […] [Read More]

Black Book’s Ricky Beggs has mingled within a fair share of auction lanes, but he witnessed activity developing last week he doesn’t ever remember seeing before. What was it? The vice president and managing editor explained during his weekly video series “Beggs on the Used Car Market.” Beggs began with, “While I was standing on […] [Read More]

To boost remarketing of repossessed vehicles, OPENLANE subsidiary Recovery Database Network and MVCONNECT recently reached limited version user agreements, meaning MVRecovery and MVIntel now are limited version users on RDN. The parties also entered into the following additional business relationships: —MVRecovery and MVIntel entered into repossession services provider agreements with OPENLANE, allowing them to remarket […] [Read More]

In explaining why the Manheim Used Vehicle Value Index slipped in September for the fourth month in a row, chief economist Tom Webb began his last conference call of the year by referencing a point he made earlier in 2011. “On last quarter’s call I tried to dissuade you from the notion that record used-vehicle […] [Read More]

On Thursday, KAR Auction Services announced three key appointments to the executive management team of OPENLANE for both the U.S and Canada. KAR named Jason Ferreri as senior vice president in charge of commercial sales. The company gave added responsibility for OPENLANE’s dealer sales to Tim Zierden to go with his capacity as senior vice president […] [Read More]

In its ongoing efforts to standardize the remarketing industry for enhanced customer service and satisfaction, the National Auto Auction Association on Thursday chose to adopt an Auction Block Announcement Standard. The association board approved the set of minimum recommended announcements at its 63rd annual conference last month in Chicago. Now in effect, the Auction Block […] [Read More]

In addition to his monthly look at the specialty wholesale market, Black Book’s Ricky Beggs shared how dealers are zeroing in more on specific vehicles they need when going to the lanes. “From all of the reports and insight we have received, our view is that the used industry is focused on getting the right […] [Read More]