On Tuesday, Manheim tapped a replacement as the group vice president of Total Resource Auctions to replace Jamie Porter, the former president who retired last year. Stepping into the role effective immediately is company veteran Bill Tiedemann. In connection with the announcement, Manheim cited its 2011 Used Car Market Report, highlighting the supply of vehicles […] [Read More]

On Tuesday, Manheim tapped a replacement as the group vice president of Total Resource Auctions to replace Jamie Porter, the former president who retired last year. Stepping into the role effective immediately is company veteran Bill Tiedemann. In connection with the announcement, Manheim cited its 2011 Used Car Market Report, highlighting the supply of vehicles […] [Read More]

Black Book vice president and managing editor Ricky Beggs found supporting evidence about the wholesale market sentiment he discovered during last week’s National Auto Auction Association/CAR event. The industry veteran detailed in his weekly “Beggs on the Used Car Market” video report that Black Book’s market summary and the results from editors’ analysis back up […] [Read More]

LeasePlan USA honored eight different auctions with Consignor Recognition Awards during the recent National Auto Auction Association/CAR event. Receiving the accolade as the Top Sales Achievement Award winner was Manheim Georgia. LeasePlan explained the Top Sales Achievement Award is given to the auction with exceptional performance in gross sales retention of LeasePlan vehicles. Five auctions […] [Read More]

Although they climbed on a year-over-year basis in February, Canadian wholesale prices dropped 2 percentage points compared to the prior month, according to OPENLANE, which said that three of the four segments it tracks showed sequential declines. Specifically, OPENLANE’s Canadian Market Index was at 113 in February, down from 115 in January. “Canadian prices decreased […] [Read More]

Insurance Auto Auctions, a subsidiary of KAR Auction Services, announced this week that Arkansas House Bill 1496 has passed, meaning lawmakers have repealed requirements for a buyer identification card for the purchase of salvage vehicles. According to officials, “Under the bill anyone who wants to purchase salvage vehicles may do so. There are no restrictions […] [Read More]

OPENLANE’s U.S. Market Index continued a slight downward slide in February as the reading dipped to 115 — 1 percentage point lower than the previous month and 5 percentage points lower than the all-time high that was reached again in December. February’s mark still represented a jump from the year-ago figure. OPENLANE said its index […] [Read More]

AuctionACCESS announced six new participating locations, including four in Texas. The new additions include Texas Lone Star Auto Auction in Carrollton, Texas; Big Valley Auto Auction in Donna, Texas; America’s Auto Auction of North Houston in Conroe, Texas; El Paso Independent Auto Auction in El Paso, Texas; America’s Auto Auction of Tulsa in Tulsa, Okla.; […] [Read More]

KAR Auction Services announced this week it will participate in two upcoming investor conferences, including the Credit Suisse 13th Annual Global Services Conference and the Barclays 2011 High Yield Bond and Syndicated Loan Conference. At the Credit Suisse event, Eric Loughmiller, chief financial officer and executive vice president, as well as Michael Eliason, vice president […] [Read More]

Before delving into various segments of the specialty units, Black Book managing editor Ricky Beggs described what he called a “slightly delayed spring market.” Black Book found that 55 percent of its adjustments this past week were increases as its analysts made a little more than 2,040 adjustments each day. “Activity was great, and as […] [Read More]