UPDATE: Story reflects updated numbers from Cox Automtoive for 2017 total volume.  What Cox Automotive described as the “total volume of wholesale requiring disposal” will reach a peak this year. Specifically, 16.6 million units are projected to be wholesaled, up from 16.4 million units last year, 15.9 million units in 2017 and 15.5 million units […] [Read More]

For nearly 20 years, James Gibson led data distribution growth and expansion efforts at NADA Used Car Guide, which is now known as J.D. Power Valuation Services.  Now Gibson is taking on a new role as director of business development for the National Independent Automobile Dealers Association. In his new role, Gibson will work with NIADA senior […] [Read More]

Auto reconditioning services company CARS Recon has appointed Jay Cadigan as non-executive board director. Cadigan has worked in the remarketing industry for more than 40 years and was inducted into the National Auto Auction Association’s Hall of Fame in 2015. He retired from Manheim in 2017. Cadigan served as vice president of industry relations for […] [Read More]

With average federal tax refunding averaging more than $2,800, Swapalease.com sees the trend being a part of its approval lift seen in March. Approvals for vehicle-lease transfer application on the site came in at 70.7%, which is up from the February rate of 65.9% as well as the reading from last March of 67.3%. Swapalease […] [Read More]

Depending on where your dealership is situated, if the greening grass and volume of pollen in your neighborhood already haven’t indicated spring is in full swing, perhaps the buzzing at your favorite wholesale auction should show it. This week’s Market Insights report from Black Book summarized the continued intensification of the spring market with lane […] [Read More]

Technology service provider AutoIMS says keys are a main reason for cost concerns and administrative burdens for its clients. That is why AutoIMS and High Tech Locksmiths have launched a new service that they say streamlines the key-ordering process for recovered vehicles entering the auction marketplace. The companies say the service will provide transparency to […] [Read More]

Manheim has invested $4.8 million in a new body shop and reconditioning center at its Manheim Orlando location. Manheim division vice president Alan Lang said the vision for the facility is to meet the growing needs of today’s dealerships and tomorrow’s mobility and fleet providers. In other auction news, Insurance Auto Auctions opened its fourth location in […] [Read More]

Repossession agents and other recovery industry professionals looking to sharpen their skip-training efforts have another resource on the horizon. Recovery Industry Services Co. (RISC), a provider of compliance education and training services, announced on Tuesday that it will be releasing an updated version of the Skip-Tracing Certification Course at the North American Repossessors Summit (NARS). […] [Read More]

The Auto Intel Council (AIC) welcomed its newest member this week. Joining the collection of leading companies and experts in the auto fintech space is Wells Fargo Preferred Capital. The AIC also includes Digital Recognition Network (DRN), IBM, KAR Auction Services, Maryann Keller & Associates and MBSi Corp. The Auto Intel Council is a private, […] [Read More]

Kroll Bond Rating Agency (KBRA) looked to calm concerns that tax refunds and other possible turbulence would trigger significant disturbances within the auto asset backed securities market. Neither of KBRA’s indexes tracking at prime and non-prime ABS shifted substantially, as severe delinquencies remained relatively stable. Securitized auto loan credit performance in March improved across virtually […] [Read More]