The spring tax season isn’t bringing with it the strong prices in the lanes it normally does. And this trend is particularly evident when looking at depreciation for the month of February. According to Black Book data, the average price of a used vehicle for model years 2010-2014 fell by 1.1 percent last month. Cars […] [Read More]

Though depreciation slowed a little bit last week, the auction market is still seeing prices decrease at a rate larger than normally seen during tax season, which traditionally brings rate strength to the lanes. Most trucks, of course, are continuing to see stronger price trends than cars, with the exception of full size luxury utilities […] [Read More]

In some overseas news, Whann Technology Group said it has broadened its work with UK-based Paragon Remarketing. According to British publication Fleet News, Paragon is now overseeing the remarketing Volvo Car UK’s end-of-term cars.  That story, which WTG provided a link to in a news release, can be found here. In  WTG's news release, Whann Technology Group vice […] [Read More]

Last month showed some price softening in off-rental wholesale cars, according to the latest Manheim Used Vehicle Value Index analysis, which said that not since 2013 has the straight average of rental-risk auction prices been this low in February. Even with rental-risk units having 11.5 percent less mileage on them, prices still fell 4.1 percent […] [Read More]

Want to know the best bargain in the automotive industry today? It’s the average selling fee for consignors at wholesale auto auctions in the U.S. Let's have some fun and look at a typical fee of, say, $100 — and I am being generous, as we all know, when chain auctions are offering less than […] [Read More]

During this week’s CBA LIVE 2016 Conference in Phoenix hosted by the Consumer Bankers Association, integrated customer analytics solutions provider Earnix is unveiling its new tool dedicated to off-lease vehicle remarketing and asset disposal optimization. Using what the company described as a highly-effective analytics solution, Earnix is positioning itself to help auto finance companies to […] [Read More]

Manheim has announced its new general manager of Manheim Pennsylvania. Serving in his 15th year with Manheim and taking the reins as GM of Manheim’s home auction location is Joey Hughes. In the new role, Hughes will be responsible for all aspects of the auction’s operations, over both its internal workforce of 1,600 full- and part-time […] [Read More]

February represented the steepest drop in wholesale prices (on a mix-, mileage- and seasonally adjusted basis) in over three years, according to comments accompanying the latest Manheim Used Vehicle Value Index published on Monday. The index’s reading for February was 123.3, down 1.4 percent year-over-year.  Of the six vehicle segments included in the report, five showed […] [Read More]

While President Obama is convening a meeting on Monday with financial regulators to receive an update on the progress in “implementing Wall Street reform,” both the American Financial Services Association and the Consumer Bankers Association offered updates on the revision to the company portal manual associated with consumer complaints sent to Consumer Financial Protection Bureau. […] [Read More]

The fact that lease penetration notched another all-time record last quarter, representing 33.6 percent of all new-car financing, didn’t come as a surprise to Experian Automotive. Leasing, along with used cars, has made more financial sense than buying new for many consumers, Experian said in an analysis accompanying its latest State of the Automotive Finance […] [Read More]