Wholesale prices continued to soften as the industry speeds toward Memorial Day weekend, with Black Book noticing declines at about the same rate no matter the vehicle age. Analysts pegged the overall value decrease at 0.13% during the week that closed on Saturday. Black Book shared dissected data in its latest installment of Market Insights […] [Read More]

Next up on our series of podcasts from April’s Auto Intel Summit & NRC Spring Summit is a panel discussion, moderated by Cherokee Media Group’s Joe Overby, that features Jai Macker of EBlock, Terence Rasmussen of CarMax, Jason Ferreri of OPENLANE and Sawyer Walker of America’s Auto Auction. Titled “Balancing Brick & Mortar + Digital […] [Read More]

No, not THAT Coach K, but with Steve Kapusta of Ally and SmartAuction. In this episode kicking off our series of “live shows” from April’s Auto Intel Summit & NRC Spring Summit, Cherokee Media Group president Bill Zadeits talks with Kapusta about his successful career rising to the top of one of the industry’s most […] [Read More]

This week’s flow of industry data continued with Cox Automotive reporting wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April during the first 15 days of May. As a result, Cox Automotive said the midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from last […] [Read More]

In less than two weeks, it will be Memorial Day weekend and the unofficial start of summer. That timeframe coupled with last week’s trends showing wholesale prices softening another 0.15% and the estimated average weekly sales rate remaining at 49% prompted Black Book to ask questions. “Auction conversion rates remained stable last week,” analysts said […] [Read More]

Next up on the “NAAA 75th” series of the podcast is a conversation between Cherokee Media Group president Bill Zadeits and longtime remarketing industry executive Tony Moorby, a 2000 inductee to the NAAA Hall of Fame. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives […] [Read More]

Rebranding in the wholesale world continued Tuesday. Ritchie Bros. Auctioneers announced that with the successful closing of the IAA acquisition, the company is changing its corporate name to RB Global. The company said in a news release that its common shares will continue to be listed for trading on the New York Stock Exchange and […] [Read More]

We start this auction news roundup with annual awards from  Santander Consumer USA and Chrysler Capital, who recognized their top auctions recently. The honorees were: Santander 2022 National Auction of the Year – Manheim North Carolina 2022 Retail Auction of the Year (Central Region)  – Manheim Dallas 2022 Retail Auction of the Year (Midwest Region) […] [Read More]

If you have interested vehicle purchasers who can get financed, perhaps your store inventory acquisition costs and potential gross profit might be improving. Black Book said on Tuesday that the arrival of May seems to have brought a potential “tipping point” since overall wholesale prices declined for the first time since early February. According to […] [Read More]

Cherokee Media Group has launched an “NAAA 75th” series of its Auto Remarketing Podcast, which commemorates the diamond anniversary of the National Auto Auction Association. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives and other wholesale industry leaders, who will discuss what the association means […] [Read More]