Consolidation in the auto auction industry continued in a big way on Tuesday, with one of the largest groups expanding its reach in the Southwest. America’s Group announced it has acquired DAA Las Vegas from the McConkey Auction Group, a move that broadens America’s footprint to 38 locations and 19 states. McConkey Auction Group purchased […] [Read More]

Auction Edge refers to its EDGE Spark technology as “groundbreaking.” Now it has a patent to back that up. The company has been granted a U.S. patent for the method used by EDGE Spark to link and integrate legacy systems with modern apps and interfaces, allowing Spark to serve as a bridge that creates easier, […] [Read More]

Black Book spotted more softening of wholesale prices and sales rates last week. But analysts said one overall trend became clear even as wholesale prices decreased another 0.37% and the estimated average weekly sales rate decreased to 48%. “Last week, we saw mixed signals again in the wholesale market,” Black Book said in its latest […] [Read More]

SIXT USA now has the Sunshine State nicely covered. The luxury vehicle rental operation opened its newest Florida location on Tuesday, starting service at Jacksonville International Airport. SIXT now has availability throughout Florida at six other markets, including Orlando, Miami, Fort Lauderdale, Tampa, Fort Myers and West Palm Beach. “As a civil-military airport that is […] [Read More]

Black Book’s Market Insights showed that wholesale values dropped 0.31% last week. Analysts said that level of depreciation exceeded pre-COVID norms for this time of year since values typically drop by 0.22%. As a result, Black Book found that the estimated average weekly sales rate increased to 49%. “June has started off on a positive […] [Read More]

The wholesale vehicle market is rounding the corner from spring with prices continuing to ease from year-ago levels. In May, Black Book’s Used Vehicle Retention Index fell on a year-over-year basis for the eighth consecutive month, coming in at 175.4, down 7.1% from May 2022. While the index has slowed year-over-year each month starting with […] [Read More]

defi MANAGED SERVICING Remarketing, which is the remarketing arm of defi SOLUTIONS, has named its 2022 Auction of the Year. Earnings the award is Manheim Dallas, with second place going to ADESA Cincinnati/Dayton and third place going to ADESA Phoenix. “Manheim Dallas consistently ranks as a volume sales leader,” said Steve Bissett, defi SOLUTIONS vice […] [Read More]

ServNet has named two new directors for its board and a new treasurer. The network of independent auto auctions said Thursday that elected to serve as ServNet treasurer is Clark Stallings of Greenville Auto Auction in North Carolina, while elected to the board was Brandon Thompson of Mid-State Auto Auction in Minnesota and Cody Boswell […] [Read More]

Safety has long been a top priority for the auto auction industry and was further strengthened in 2015 when the National Auto Auction Association’s leadership declared that the days of treating it as a goal rather than a value were over. At Manheim, safety is a core value and an integral part of every decision […] [Read More]

In a wholesale vehicle market where prices continue to slow on a week-by-week basis, truck segments had particularly strong depreciation in the last full week of May. According to the latest Market Insights report from Black Book, truck/SUV values were down 0.32% for the week ending Saturday, which is not only more than double the […] [Read More]