The wholesale market hit a five-week high for daily value adjustments last week and experienced the greatest overall decline in more than a month, according to Black Book managing editor Ricky Beggs. In fact, since mid-February, there have only been two other weeks that have exceeded the $29 decline shown last week, Beggs said in […] [Read More]

Manheim announced a strategic partnership with Renovo Services to begin selling repossessed vehicles directly from secured storage facilities across the country.  The recent agreement means Renovo will list its repossessed vehicles directly on OVE.com, allowing dealers faster access to vehicle inventory. Once a vehicle is purchased, it will be transported directly from one of Renovo’s […] [Read More]

May’s slight downward movement of wholesale vehicle prices is what ADESA’s Tom Kontos has been expecting. ADESA Analytical Services indicated that wholesale used-vehicle prices in May averaged $10,460, a figure that was down 1.1 percent compared to April and 0.8 percent lower than May of last year. “I’ve been saying in my commentary for several […] [Read More]

The American International Automobile Dealers Association is teaming up with ADESA — the group’s latest addition to its list of affinity partners — for a free online seminar later this month that will tackle one of the most pressing concerns for dealers these days: used-vehicle sourcing and acquisition. Dealers today face numerous challenges when it […] [Read More]

ADESA subsidiary PAR North America revealed its new vice president of sales and client relations on Monday. Named to the post is Jose Delgado, who comes to PAR from Manheim Utah Auto Auction, where he was an assistant general manager. In his new role, Delgado reports directly to Jerry Kroshus, president of PAR. “Jose is […] [Read More]

Ritchie Bros. Auctioneers is hosting a multimillion-dollar sale next week that will feature more than 2,000 heavy equipment items and trucks for sale. The two-day unreserved public sale will be held June 22 and June 23 at the company’s permanent site in Houston. Among the equipment up for sale are: —Two 2010 Tigercat 724E feller […] [Read More]

Canadian wholesale values were ahead of year-ago levels in May, but prices dropped sequentially across the board as the auction market incurred a 2-percentage-point month-over-month dip, according to OPENLANE. The company’s latest Canadian Market Index was at 99, down from 101 in April and up from 95 in May 2010. Values for cars, minivans, SUVs […] [Read More]

Canadian fuel costs are expected to continue rising for the next few years and the U.S.-Canada exchange rate is projected to hover near parity for “the foreseeable future,” according to the latest Industry Report shared by ALG Canada. The report offered the company’s take on how these factors will impact Canadian residual/resale values. Specifically, the firm believes that […] [Read More]

Thanksgiving dinner might be on the table at about the same time OPENLANE expects significant wholesale price declines. As the May OPENLANE Market Index hit 110 — the fourth time it’s been at this level or higher in the past two years — predictions about it receding anytime soon didn’t come from Nagi Palle, OPENLANE’s […] [Read More]

In today’s wholesale market, buyers are extremely hungry for quality used vehicles, which are seeing prices rise as the supply dearth remains. Wholesale values have hit record highs recently and buyers are paying top-dollar for these hard-to-find quality used units, of which there never seems to be enough. So how can consignors in today’s auction […] [Read More]