NextGear Capital’s growth is blossoming beyond North America. Executives from NextGear Capital joined representatives from their NextGear Capital UK subsidiary and the Society of the Irish Motor Industry in Dublin on Monday to commemorate the company’s launch into Ireland. Officials highlighted this expansion is the result of the Cox Automotive company's rapid success of its […] [Read More]

One auto tech company aims to make the auction a part of the trade-in process. Selectbidder officially announced today its new platform for real-time bids on dealer trade-ins, aiming to connect auctions, dealers and dealer customers in a way to streamline the trade-in process. Currently rolling out its platform to independent auctions across North America, […] [Read More]

Two dealer-centric events and another one coming up later this month all are giving DealerSocket chief executive officer Jonathan Ord plenty of opportunities to interact with current dealership clients as well as prospects. Along with four primary wants, Ord shared the two main strands of questions he’s received as the leader of the company that’s […] [Read More]

Are you seeing a lack of talented techs come through your doors? Many dealers are; the industry is buzzing about a shortage that may affect your bottom line for years to come. Mid-career mechanics are retiring, yet fewer schools are able to teach the advanced skills that today’s cars require, and there remains a stubborn […] [Read More]

On Friday, Xcira unveiled its new floor plan management system, which will begin its launch sequence at BSC America’s Bel Air Auto Auction later this month. Designed to allow an auction to manage its own floor planning program for its dealers more efficiently, the company highlighted the system is the most recent in a series […] [Read More]

Prices in the lanes for prime used vehicles saw depreciation slow even further in August. According to the latest Blue Book Market Report from Kelley Blue Book, prices for 1- to 3-year-old used vehicles held their values better last month than movement seen earlier this summer. The average vehicle value to younger used vehicles declined […] [Read More]

The ServNet Auction Group has brought in a new member: Akron Auto Auction. Announcing the new addition, ServNet president Patty Stanley said: “It continues to be our goal to identify the best independent auto auctions in markets not currently covered by one of our ServNet member auctions, and we are delighted to announce that Akron Auto […] [Read More]

Following KAR Auction Services’ announcement earlier this year that it planned on opening an auction facility in the Chicago area, the company said Friday that it broke new ground for its future ADESA Chicago location. The 65-acre plot is located in Hoffman Estates, Ill., and the company hopes to open the facility in spring of 2016. In […] [Read More]

The effects of increased supply are starting to become more evident in the wholesale market. Commenting on the first year-over-year decline in used-car prices in a year, ADESA’s Tom Kontos said in his latest Kontos Kommentary report:  “We now see a clearer picture of the downward pressure that supply growth is putting on prices.” The […] [Read More]

After prices rose more than expected at auctions in July — up by 0.5 percent from June — rates in the lanes continue to rise as we approach fall. Last month, price movement was once again  “more positive than expected seasonally,” reported Geoff Helby, ALG Canada regional director. According to the ADESA Canada Used Vehicle […] [Read More]