August marked the first increase in wholesale values for the Canadian market in five months, according to the ADESA Canada Used Vehicle Price Index report. Specifically, ADESA’s data — powered by ALG Canada — indicates that the index showed a 0.15-percentage-point sequential hike, seasonally adjusted. Wholesale prices climbed 1.1 percent month-over-month, officials indicated, noting that […] [Read More]

Pushed by the value of the Canadian dollar falling, wholesale prices in Canada during August were up by more than 2 percent sequentially and more than 6 percent year-over-year, according to RVI Group. Specifically, the RVI Used Car Price Index for Canada came in at 1.023, up from 1.002 in July and 0.963 in August […] [Read More]

A tough Canadian economy apparently didn’t dampen certified pre-owned sales too much during August. Auto Remarketing Canada learned that several automakers saw double-digit CPO gains during the month, continuing rather robust years in the certified segment. In fact, the Toyota brand — though its year-over-year gain was just shy of double-digits — had its strongest […] [Read More]

At least one OPENLANE shareholder isn’t happy the company is being sold to KAR Auction Services, according to his class action lawsuit filed in Delaware state court last Friday. A member of Auto Remarketing’s group on LinkedIn pointed to a report on Law360.com that included many strong comments by plaintiff William Treadway. Treadway contends KAR’s proposed $210 […] [Read More]

The nature and size of the schemes are often wide-ranging, and the devices used to perpetuate the fraud can be purchased inexpensively. And auctions ought to be on alert. That’s the message that Frank Hackett — executive director of the National Auto Auction Association — is trying to get across to his association’s members. Apparently, […] [Read More]

Agreeing with other wholesale industry analysts, ADESA’s Tom Kontos also discovered August prices softened both month-over-month and year-over-year. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, wholesale prices in August averaged $9,881, which was down 1.0 percent compared to July and 1.2 percent lower than August of last year. […] [Read More]

TrueCar revealed Thursday that it has tapped a former Yahoo and American Express marketing executive to serve as its chief marketing officer. Appointed to the role is Todd Daum, who will head up the development, direction and oversight of TrueCar’s direct-to-consumer product marketing, e-commerce, advertising initiatives and media throughout the company’s properties. [Read More]

On the heels of OVE.com’s second annual Independent Auction Summit, the company announced it is bringing back the Strive 4 Five promotion — which provides participants with financial incentives to “capitalize on the incremental dealer business opportunity OVE.com provides," “Not only are partners able to use OVE.com as a defensive and offensive tool, they’re able […] [Read More]

Edmunds.com announced Thursday that it is now providing the online applications community its full database of vehicle specifications and pricing. By releasing this application programming interface, developers of online vehicle-shopping applications can gain full access to the tools that can help them craft and bolster their products. [Read More]

Nissan North America revealed Thursday that in an unconventional approach to marketing the automaker will be offering 16 Gran Turismo 5 gamers the chance to race behind a real wheel. In collaboration with Sony Computer Entertainment America LLC and Polyphony Digital Inc., the brand announced the premiere of reality television show GT Academy USA — […] [Read More]