Wholesale prices bested year-ago totals in July despite dipping 2 percentage points from June, according to OPENLANE. And although three of the four vehicle categories were down in price sequentially, one segment halted a long stretch of month-over-month decreases. More specifically, OPENLANE’s U.S. Market Index was at 107 in July, compared to 109 in June […] [Read More]

The M. Davis Co. recently rolled out another division to augment USA Recovery Solutions, Skip Masters and USA Transport Solutions. Officials described USA Remarketing Service as a full and complete national auctioneering service that includes flat fees, exclusive services, onsite representation as well as physical and online sales with no storage fees for USA Recovery […] [Read More]

Although the wholesale market this past week was close to echoing the same trends spotted the week before, Black Book’s Ricky Beggs noticed a few things that made last week stand out. The total value adjustment (a downward movement of $82) and the proportion of adjustments that were increases (21 percent) and decreases (79 percent) […] [Read More]

National Auto Auction Association economist Ira Silver needed only one word to summarize second-quarter wholesale volume. What did Silver say? He called second-quarter volume “disappointing.” Silver revealed this week that second quarter auction volume declined 11.2 percent year-over-year after dropping 7.8 percent in the previous quarter. He indicated smaller increases in dealer consignment were more […] [Read More]

As overall wholesale prices softened again last week, Black Book’s Ricky Beggs cautioned dealers who are watching the lanes and their laptops that exceptions still remain. Beggs explained these exceptions are particularly noticeable even as 2012 models begin to arrive on dealer lots. “Even though the overall changes represent a market that continues to ease […] [Read More]

OPENLANE’s repossession business is soaring. Officials revealed this week they have experienced a 250-percent growth in repossessed vehicle sales and a 75-percent sell-through rate in their recovery remarketing program since January. OPENLANE also highlighted that it has seen a 94-percent increase of recovery companies registered to support sales for their financial lender clients since January, […] [Read More]

Manheim Canada revealed its new director of business/product development this week, appointing longtime industry veteran Don Wallace to the role. When he officially begins his tenure on Monday, Wallace takes the spot previously held by Cheryl Munce. Munce recently moved over to serve as general manager at Manheim Toronto. [Read More]

So, they are perhaps not as mythical as Big Foot or unicorns. Black Book’s Ricky Beggs recently discovered while scouring the auction lanes that no sales actually do exist. During his weekly video report, “Beggs on the Used Car Market,” the managing editor then asked, “are floors being adjusted?” To explain his answer, Beggs began […] [Read More]

Insurance Auto Auctions rolled out several improvements to its online offerings Tuesday. The company highlighted the mobile version of its website has been redesigned to offer an easier way to search, bid and buy vehicles. Additionally, IAA explained its online vehicle search function has been dramatically improved by offering keyword search and refining options. Officials […] [Read More]

Hertz Global Holdings and Donlen Corp. this morning announced they have signed a definitive agreement for Hertz to acquire Donlen. The transaction has been approved by the boards of directors of both companies and by the stockholders of Donlen. The transaction is expected to be completed in the third quarter of 2011, subject to the […] [Read More]