Carmigo and VINCUE announced a partnership designed to give users of both platforms greater access to live data and a wider array of wholesaling options. The integration allows Carmigo users to view recent retail transactions and average retail price for cars listed on Carmigo, powered by VINCUE’s live market data. Carmigo will power VINCUE’s RetailScore, […] [Read More]

To put the easing in wholesale vehicle prices into perspective, consider these two streaks. The Manheim Used Vehicle Value Index has decreased on a year-over-year basis for 21 consecutive months. And in May, the index fell below 200 for the second straight month, reaching levels not seen since early 2021. The index came in at […] [Read More]

Commercial consignment is not only driving up overall wholesale auction sales, but also commanding a greater share of the overall market. That’s according to AuctionNet data from the National Auto Auction Association shared with Auto Remarketing. Through May, there have been 2.89 million vehicles sold at auction this year, which beats year-ago figures by 9%, […] [Read More]

Manheim built its latest auction from the ground up. The national auction giant partnered with TR Group to establish 4 Star Auto Auction in Valley, Ala., a new location on nearly 22 acres that operates two auction lanes with the ability to expand to three as needed. The $4.2 million facility uses Manheim’s technology, expertise […] [Read More]

ServNet said Wednesday that Big Valley Auto Auction in Donna, Texas, and Oklahoma Auto Exchange in Oklahoma City have joined the group of independent auctions. Big Valley, which serves Texas’ Rio Grande Valley, is owned by the father-daughter team of Bernard Waston and Lisa Franz. The auction was founded in 2008 and Franz is general […] [Read More]

The automotive industry is in the midst of a pressing challenge. Auto dealers are grappling with the issue of their inventory languishing on the lot for extended periods. This situation is not just a minor inconvenience; it’s a significant threat to the dealership’s cash flow and overall profitability. The need to expedite the movement of […] [Read More]

Black Book spotted the largest single-week value decline since the middle of January during the stretch that included Memorial Day and the end of May. As depreciation accelerated, analysts also noticed the average auction sales rate last week dropped 2% from the previous week to land at 53%. “These market dynamics are intriguing, particularly when […] [Read More]

Online wholesale used-vehicle marketplace OPENLANE has launched a new sale format that enables sellers to signal they are committed to selling a vehicle to the highest offer that day. The Absolute Sale feature is designed to increase buyer confidence and visibility, boosting engagement and optimizing seller returns, the company said. “With just the click of […] [Read More]

Black Book’s latest installment of Market Insights approached both wholesale and retail perspectives since dealers are amid holiday weekend sales campaigns and looking to close May on a positive note. During the week that closed two days before Memorial Day, Black Book watched wholesale values soften another 0.15%, which was 9 basis points less than […] [Read More]

Fresh off its annual lobbying event in Washington, D.C., the National Auto Auction Association announced it has opened registration for its 2024 NAAA World Remarketing Convention. The convention, set for Oct. 1-3 at the Hilton Bonnet Creek Resort in Orlando, Fla., brings the auto remarketing industry together for association business, honors, networking and educational content. […] [Read More]