The streak of record wholesale vehicle prices looks like it might stop at three months. The latest mid-month reading of the Manheim Used Vehicle Value Index — which reached all-time highs in June, July and August — came in at 162.3.  The index finished August at 163.7. In an analysis accompanying the report, parent company […] [Read More]

Wholesale auction sales reached a bit of a slow patch at the end of summer. The week ending Sept. 13 marked a decline in auction sales volume of vehicles up to 8 years in age, according to a Used Market Update report from J.D. Power. Specifically, there were 86,000 units wholesaled that week, down from […] [Read More]

Luxury electric vehicle producer Karma Automotive will introduce a new name for a family of vehicles in 2021 called the GS Series, and the lineup will include Karma's first-ever battery-electric luxury sedan. The lineup will also include updated electrification options and technological advancements, and to facilitate orders, Karma created a new pre-reservation order site that […] [Read More]

For Manheim, 2020 began as an anniversary year, its 75th. And, of course, it still is. But for the auction company and wholesale auto industry at large, it has evolved into a milestone year in and of itself. What started as a year to commemorate a landmark from the past will arguably be looked upon […] [Read More]

Adapting to the situation presented by the coronavirus pandemic is on full display within the independent auction world. Russ Smith is owner and general manager of Dealers Auto Auction of Idaho, which recently joined ServNet Auctions. Smith felt the stress of when business life in just about every way came to an abrupt stop in […] [Read More]

The impact of COVID-19 on the electric vehicle market is more like a yellow light than a red light, according to a new whitepaper from Cox Automotive Mobility. Or as the analysis puts it, the hit to EVs will  be, “more of a stallout than a vanishing act.” The company released a whitepaper Monday titled […] [Read More]

Online reputation services provider Friendemic has integrated CARFAX reviews into its Reputation Accelerator product, and Friendemic says that with 19 million consumers visiting the CARFAX site monthly, the integration will “help bring a new level of awareness and engagement to dealership management.” Friendemic provides online reputation services built specifically for the needs of the automotive […] [Read More]

Like it has with so many other industries, the COVID-19 pandemic has caused a major shift at auto auctions over the last seven months. Whether that’s putting a greater emphasis on digital sales and not running cars through the lanes — as has been the case with the industry’s two largest corporate auction houses, Manheim […] [Read More]

Eighty-two percent of dealers said they would rely heavily on social media advertising such as Facebook and Instagram for the rest of this year, according to a new survey from PureCars. Sixty-two percent said they would use direct marketing channels, and 61% would use SEO/search marketing efforts to reach customers. The PureCars survey found that dealers’ […] [Read More]

Chris May says the average dealer loses about $500,000 a year because of turnover. “The cost to recruit, onboard and train a new hire while there is an empty seat on the sales floor adds up fast,” said May, who is director of the Performance Development Center at JM&A Group. To help alleviate the problem, JM&A […] [Read More]