Hyundai Motor America recently announced its 2013 Auction of the Year and recognized Manheim Riverside with the annual award.   Each year, the award goes to the top-performing auction in terms of sales values, customer service, dealer satisfaction, quality and overall performance.  This marks the first time a West Coast auction has won the award […] [Read More]

The National Auto Auction Association sent out an NAAA Update on Thursday afternoon indicating that the International Automobile Remarketers Alliance has implemented a Standardized Auction Audit Checklist that auctions can use to prepare for audits by their IARA member auction partners. This checklist can be accessed on the IARA website or the NAAA website. “This […] [Read More]

The first day of spring is less than a week away, and auction prices are right in line with usual seasonal trends — that is to say, they are on the way up. The good news? NADA Used Car Guide is predicting auction prices to peak this month, and then continue to slide downward through […] [Read More]

More than eight months after Rick Hackett left the Consumer Financial Protection Bureau, the agency tapped a replacement regulator on Wednesday whose main jurisdiction is the auto finance market. Joining the CFPB as the assistant director of installment and liquidity lending markets in the bureau’s research, markets, and regulations division is Jeffrey Langer, who most […] [Read More]

Though many are predicting supply to loosen a bit this year, causing used prices to slide, pre-owned prices aren’t quite there yet as seasonality comes into play. Used values are still pushing up as spring approaches, and the ADESA Canada Used Vehicle Price Index, powered by ALG, rose by 0.4 percent in February. Price spikes […] [Read More]

Prime Minister Stephen Harper’s announcement regarding a free-trade agreement between South Korea and Canada garnered a bit of a mixed review from the automotive industry and unions. Unifor, one of Canada’s largest unions in the private sector, even went so far as to say the Canadian auto industry is “threatened” by the free-trade deal with […] [Read More]

As published reports indicate the Department of Justice is preparing a criminal investigation of General Motors and the recall of more than 1.3 million older, discontinued models because of ignition problems, the automaker is offering $500 to owners of these units to put toward the purchase or lease of a new vehicle. But what about […] [Read More]

There was a 3-percent month-over-month increase in AuctionNet sales volume in February for cars up to 8 years in age, according to NADA Used Car Guide, which noticed particularly strong increases in transactions of cars from the 2014 and 2012 model-year classes last month. The latest Guidelines report indicates there were close to 1,600 AuctionNet […] [Read More]

Manheim operating locations across the U.S. were honored by customers for delivering top results in the vehicle remarketing industry in 2013, from service, volume and quality to auction of the year, the company said Wednesday. Presented during the NAAA/CAR/IARA event held last week in Las Vegas, the awards earned include recognitions for Auction of the […] [Read More]

ADESA’s Tom Kontos pointed to two factors as to why February’s wholesale price movement ended up being “atypical.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, used vaules in February averaged $9,839 — down 1.4 percent compared to January, but up 0.9 percent relative to February of last […] [Read More]