In the first two months of the year, the pre-owned side of the auto industry is pacing towards another year in the neighborhood of 38 million sales. Edmunds is predicting February used-car sales of 3.4 million units. That forecast would translate into a SAAR of 37.9 million. There were 3.0 million used-car sales in January and […] [Read More]

KAR Auction Services chief economist Tom Kontos looked at January wholesale data and declared that prices “held up surprisingly well.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used vehicle prices in January averaged $10,945 — up 2.8 percent compared to December and up 6.7 percent relative […] [Read More]

RouteOne announced recently that Jeff Belanger — who’s been named senior vice president of sales — as well as Amanda George — who has been picked as vice president of strategy — will begin their positions in April. The creation of the new roles come as a result of the announcement that RouteOne’s chief strategy officer, […] [Read More]

Auction technology provider Xcira recently announced that the U.S. Patent and Trademark Office issued the company a new patent that addresses a bidder actively participating in or monitoring multiple simultaneous auction events. The new patent is the company's 12th that is devoted to inventions relating to online bidding, inspection systems, real-time audio and video distribution, and […] [Read More]

The deadline to opt into Auto Remarketing's Auto Auctions to Work For program is Friday.  For individual auction locations to participate, the general manager/leader of that auction needs to opt in at this website by Friday. Here are the details: What is it? A free workplace study for the auto auction industry that will recognize the […] [Read More]

Manheim called it a “good year” for its digital channels after the company reviewed its 2016 performance and found that the average year-over-year growth in each of its Digital Marketplace categories came in at 15 percent or more. Officials said OVE (Manheim’s online wholesale marketplace) reached an all-time 2.5 million vehicle sold since it was […] [Read More]

Dealers Auto Auction of the Southwest (DAASW) recently introduced digital bidder badges that are powered through its mobile app. The independent auction’s new innovative badges are a first in the nation concept, according to Jim DesRochers, former National Auto Auction Association president. “We have always felt that standing in line for a paper badge or in […] [Read More]

Black Book on Monday released its latest joint depreciation report with Fitch Ratings; an analysis that projected 2017 vehicle depreciation to reach 17.8 percent based on estimated new-model sales of 17.0 million. That forecast is slightly up from the 17.3-percent mark recorded in 2016. The firms point out that average pre-recession annual depreciation trended between […] [Read More]

All but two of the seats of ServNet's board of directors are filled by next-generation auction owners. First-generation owners Kevin Brown of Missouri Auto Auction and Patty Stanley of Indiana and Carolina Auto Auctions lead the board. “The remaining five seats are filled by owners who have followed their parents into the auction business and […] [Read More]

President Trump took aim again at government regulation with the executive order he signed on Friday. The latest action is requiring every agency to establish a regulatory reform task force “to eliminate red tape,” according to the White House. The administration explained this executive order contains three main components, including: — Each regulatory reform task […] [Read More]