ServNet has expanded in the Southeast. The group of independently owned auctions said Wednesday that Central Arkansas Auto Auction has joined its network, which now includes 22 auctions. Cole Hooten is managing partner at the auction, which is based in Beebe, Ark. “We’re so thrilled to have Central Arkansas join ServNet. Cole and his team […] [Read More]

One of the nation’s oldest auto auctions held one of the industry’s longest-running promotions last month — and unveiled something brand new. On Oct. 10, BSCAmerica’s Bel Air Auto Auction in Belcamp, Md., hosted its 52nd annual Harvest Sale, inviting dealers from the Eastern Seaboard and beyond to an event featuring prize drawings, food and […] [Read More]

Black Book noticed typical wholesale price movements as October concluded, with one anomaly being increasing values observed for small pickups that are 8 years old or newer. But with Tuesday being both Election Day and the release of its newest installment of Market Insights, Black Book pointed to the run for the White House as […] [Read More]

Amid acknowledgement of operational challenges during the third quarter of its 2024 fiscal year, Proficient Auto Logistics on Wednesday appointed a new member to its board of directors. Joining the leadership group is Brenda Frank, who is currently is the group senior vice president of human resources, buying offices, of Ross Stores. Frank leads a […] [Read More]

In today’s competitive automotive market, American car dealers are constantly seeking ways to improve their used-vehicle inventory acquisition. The disruptions caused by the COVID-19 pandemic have made it challenging to meet consumer demand, with shortages and inflated prices becoming common in traditional sourcing channels like physical auctions. With these obstacles, online auto auctions have emerged […] [Read More]

Black Book said the wholesale market is showing “typical levels of depreciation expected for this time of year,” after overall values dropped 0.45% last week. What’s intriguing analysts most, however, is what’s going on with compact cars and small pickups, perhaps the vehicles currently most appealing to your potential retail customers. “The shortage of budget-friendly, […] [Read More]

While still up double-digit percentages, the growth in commercial vehicle volumes at auction is starting to slow. And that’s to be expected, according to the National Auto Auction Association. Through the first three quarters of 2024, commercial vehicle sales at auction have climbed 25.6% compared to the first nine months of 2023, NAAA said in […] [Read More]

Craig Amelung is less than two weeks into his tenure as National Auto Auction Association president and is already tackling one of the most pressing issues in the overall auto industry: cybersecurity. NAAA said Tuesday it has launched a Cybersecurity Task Force, created by Amelung, that will be led by Eddie Lafferty, who is the […] [Read More]

Wholesale prices are falling, used cars are staying in dealer inventory longer and the entire industry is still gathering information about total damage created by two vicious hurricanes to strike in the past month. That’s the main assertions included in Black Book’s newest Market Insights released on Tuesday, as the analysis covered the week that […] [Read More]

A new online wholesale auto auction platform puts the “seller’s reputation on the line.” ACV Auctions co-founder and former executive Joe Neiman has launched DealerClub, a reputation-based exclusive marketplace where “each member puts their reputation on the line and is accountable for the vehicles they sell based on a rating system.” Buyers using DealerClub to […] [Read More]