Black Book reported that auction conversions averaged 59% last week, which was down 2% from previous week. Analysts explained the dynamics in play, saying that overall movement is “reflecting selective buyer appetite and continued seller resistance. “Performance varied widely,” Black Book continued in its newest edition of Market Insights released on Tuesday. “Some closed and […] [Read More]

America’s Group VP of merger and acquisitions Chris Elliott recently explained how the company evaluates potential acquisitions, emphasizing elements such as “a strong reputation,” and “a good quality staff.” Evidently America’s Group found another auction that met those criteria, as on Wednesday the company announced the acquisition of Mid-State Auto Auction, located in New York […] [Read More]

Mike Browning, who has been with Cox Automotive for 20 years and previously served as president of the National Auto Auction Association, has a new role with Manheim. On Tuesday, Manheim named Browning as associate vice president of industry operations to serve as a strategic liaison between Manheim and its independent auction partners, while also […] [Read More]

The National Auto Auction Association got its annual convention started on Tuesday by honoring four executives as Warren Young Fellows. According to a news release, Tommy Rogers, Nate Simonson, Butch Herdegen, and Ray Priest have been recognized by the association for their contributions and distinguished service to the wholesale industry following their term as president […] [Read More]

After retiring from ADESA a little more than a year ago, Tom Kontos is back in the auction business. Auto Auction Holdings president Joaquin Muvdi announced on Tuesday that Kontos joined its executive leadership team as the analytics advisor. Established in 2003 and based in Fort Lauderdale, Fla., AAH is a provider of auto auction […] [Read More]

Steady prices and stable volume. That’s the crux of information from the first 15 days of September included in the mid-month Manheim Used Vehicle Value Index, which technically increased from 207.4 in August to 207.5 at this month’s midpoint. While the month-over-month change in wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) […] [Read More]

America’s Group, which has been among the market leaders in auction M&A as of late, is aiming to boost its physical auction count to 60 in the near-term, says Chuck Tapp, CEO of America’s Group. The auction group, which currently has 46 physical locations along with a handful of mobile auction sites, is eyeing “sometime […] [Read More]

In the wake of gaining full ownership of Alliance Inspection Management this month, Cox Automotive is moving to up its inspection game. Cox’s Manheim Auctions has announced the formation of two new teams designed to “deliver a seamless, unified experience” for dealers and commercial clients across all channels. The Manheim Mobile Inspections team — which […] [Read More]

Cox Automotive is bringing its fleet businesses together. The industry giant announced it is merging its Fleet Services and FleetNet America brands into one fleet organization, effective Jan. 1, a “strategic alignment” Cox called a major step forward in its long-term commitment to the fleet industry. “Cox Enterprises has a 127-year legacy of innovation, transforming […] [Read More]

Black Book said on Tuesday its estimated used retail days to turn is now at roughly 36 days. Perhaps, as a result, Black Book saw buyers being “more selective” in the lanes last week, as auction conversion rates have eased since Labor Day, but remain above 60%. Overall, Black Book reported in its latest installment […] [Read More]