The National Auto Auction Association recently announced that Clark County Auto Auction and Charleston Auto Auction have both been named Auto Auction of the Year within their respective chapters, following nominations from local school leaders. The award was established last year to honor the charitable acts auctions perform each year and to encourage volunteer outreach. […] [Read More]

Along with looking ahead to how prices might move in August, analysts at J.D. Power Valuation Services determined that July’s wholesale depreciation matched historical trends. According to the latest issue of Guidelines, analysts reported that the wholesale prices of used vehicles up to 8 years in age fell by 2 percent in July, mirroring what […] [Read More]

While some lawmakers on Capitol Hill continue to work toward a major restructuring or perhaps even a complete dismantling of the Consumer Financial Protection Bureau, one of the leaders of the American Recovery Association cautioned the industry about developments this summer in Pennsylvania by the attorney general to establish a division similar to this federal […] [Read More]

There was a double-digit slide in the auction volume of late-model vehicles from June to July — but that’s typical for summer, J.D. Power said in a report this week. And what’s more, late-model auction volume was up more than 7 percent year-to-date through July. According to the latest Guidelines report from J.D. Power Valuation Services, […] [Read More]

Stemming from subprime financing activity, TransUnion’s Q2 Industry Insights Report showed the magnitude of diminishing originations and rising delinquencies. Or as Brian Landau, senior vice president and automotive business leader for TransUnion, explained it to SubPrime Auto Finance News this week: “This is just normal course of the industry recalibrating.” For the first time since […] [Read More]

This week, EFG Companies launched what it’s calling EFG Express Claims, one of the industry’s first claims automation systems that can enable dealerships to self-adjudicate claims and receive automatic approvals. The company explained EFG Express Claims can automate the claims adjudication process using self-service features within DRIVE, EFG’s client portal. Using EFG Express Claims, dealership […] [Read More]

Carvana has grown its Tennessee footprint with the recent additions of both Chattanooga and Knoxville markets. The online used-vehicle retailer announced Wednesday that Chattanooga- and Knoxville-area residents can now browse Carvana.com to finance, purchase and trade in old vehicles. After making a purchase, customers can arrange for vehicles to be delivered as soon as the next […] [Read More]

Cox Automotive said Wednesday that its Manheim Market Report has been upgraded with a “sweeping set of enhancements” designed to streamline remarketing and provide more in-depth information. The four upgrades to Manheim Market Report include: An adjusted, more specific valuation on vehicles that includes AutoGrade condition and exterior color, vehicle mileage and region. Clients are able […] [Read More]

ADESA announced Tuesday that it has brought on two new members to join its sales team. Angela Williams and Kirk Archer have joined the company as executive sales directors. Williams most recently served as the business development and marketing manager for Rawls Auto Auction in Leesville, S.C. “Angela brings more than 20 years of auto […] [Read More]

Insurance Auto Auctions, a business unit of KAR Auction Services, announced Wednesday it has expanded locations in six states to both address clients’ increased inventory needs due to more claims being deemed total losses and to plan for a projected rise in salvage volume following the upcoming weather event season. The company’s new land additions […] [Read More]