ServNet announced Wednesday that Clark County Auto Auction has been named the newest member of the independent auction group.  Clark County Auto Auction is located in Jeffersonville, Ind., and serves dealers in the southern part of the state, as well as the Louisville, Ky., market area. “I join with the owners of ServNet auctions across the […] [Read More]

Editor's note: This story was originally published on Jan. 3. Ken Osborn passed away the following week. Auto Remarketing sends its condolences to his family and ADESA team. An updated version of the story is below.  The night that Ken Osborn earned his bachelor’s degree in the early 1980s, he saw his mentor Richard Dupriest […] [Read More]

Black Book noticed that big crystal ball in Times Square wasn’t the only thing to make a noteworthy drop to wrap up 2017. This week's edition of the Black Book Market Insights revealed cars softening in value by a record 0.78 percent. Editors determined that midsize cars saw the highest depreciation with a 1.18-percent decrease in […] [Read More]

Before 2017 closed, Auction Management Solutions (AMS) announced that the firm partnered with Alliance Auto Auction for business development consulting. Adding this operation brings the firm’s client list to 22 total locations. “Adding a growing, vibrant family of Texas auctions to the AMS family only makes our entire organization stronger. We are very excited to […] [Read More]

Following Cyber Monday’s recent record-breaking sales, Aaron Krane at Drive Motors predicted online checkout could be a difference maker for dealers competing for transactions during the holidays and year-round. Though the overall volume in online orders does drop around the Christmas and New Year’s holidays, it doesn’t drop very much — only about 25 percent — […] [Read More]

How vehicles get utilized by buyers once they leave your showroom continues to change at a breakneck pace. Companies such as Lyft and Uber have carved out business activities by often providing short-distance transportation; say to or from an airport or back home if you’ve had too many beverages at happy hour. Meanwhile, a new […] [Read More]

Penske Automotive Group said Wednesday it has closed its purchase of U.K.-based used-car retailer The Car People. The acquisition was first announced Dec. 12. “I am delighted to welcome The Car People team to Penske Automotive Group,” Company chairman Roger Penske said in a news release.“The acquisition of The Car People accelerates the company's expansion of […] [Read More]

The risk auto finance companies absorbed when taking on new-vehicle paper certainly didn’t wane as 2017 closed. On Tuesday, analysts at Kelley Blue Book reported the estimated average transaction price (ATP) for light vehicles in the United States came in at $36,113 in December. New-car prices increased by $583 (or 1.6 percent) from December 2016, […] [Read More]

DriveTime on Tuesday morning announced an executive succession process. The company said DriveTime chief executive officer Ray Fidel entered into definitive agreements in late November for Fidel's transition out of his role as CEO in December. DriveTime indicated the transition process is complete, and the company is currently searching for a CEO for its retail […] [Read More]

The volume of late-model vehicles in the auction lanes slowed down slightly in the last full month of fall, but the latest year-to-date data and forecasts for coming years indicate big spikes in supply. According to the latest Guidelines report from J.D. Power Valuation Services, there was a 0.8-percent month-over-month decline in late-model auction volume […] [Read More]