Copart chief executive officer Jay Adair spent much of Wednesday’s quarterly conference call not talking about the first stanza of the 2013 fiscal year, but instead concentrating on how the company is handling salvage volume stemming from Superstorm Sandy. The company is deploying resources to New York and New Jersey from as far away as […] [Read More]

It appears change is afoot in the Ohio salvage vehicle industry. On Tuesday, the state legislature's House Insurance Committee adopted an amendment to SB273, a series of changes which propose to revise a bevy of sections of the Revised Code that deals with consumer protection laws in the salvage industry. And one organization is voicing […] [Read More]

It seems dealers, buyers, and auction owners alikemight be seeing higher values and volumes in the lanes as 2013 gets under way. This week, National Auto Auction Association president-elect Jack Neshe and NAAA president Paul Lips joined Black Book’s Ricky Beggs during his “Beggs on the Used Car Market” video report. After years of low […] [Read More]

Still-strong wholesale vehicle values resulted in yet another decline for U.S. auto ABS losses, according to the latest index results from Fitch Ratings. Analysts said October auto ABS losses also remained stable as the new model season kicked into gear for vehicle sales. Fitch pointed out the Manheim Used Value Index gained 1 percent, increasing […] [Read More]

Next month, Sanford Auto Dealers Exchange has a sale on tap that may help dealers not only shore up their used inventory, but aid in their holiday shopping, as well. On Dec. 18, SADE is hosting a 2,000-vehicle sale that will also include $50,000 in gifts for customers. The two grand prizes are a 1987 […] [Read More]

Standing at the threshold of its 25th year, ServeNet held a Meet the Owners event earlier this month that served as a time to "review the group’s history and continued strengths." ServNet auction owners and executive team met with executives from Bank of America, Hyundai Capital, Consumer Portfolio Services, Lobel Financial, Automotive Information Network, KARS-R-US, […] [Read More]

Independent auction network ServNet revealed Tuesday a new member on its board of directors. Tapped for the position is the owner and general manager of Pittsburgh Independent Auto Auction: Dave Angelicchio. [Read More]

After seeing considerable dips in prices in the past few months, adjustment rates in the lanes are slowing down, says Black Book’s  Ricky Beggs, and Hurricane Sandy may be behind the change. Beggs told Auto Remarketing, “We didn’t have any more adjustments this week over last week that were increases, but we had fewer overall […] [Read More]

RVI Group recently shared its most recent wholesale used vehicle price analysis, finding that used-car prices went up slightly in October. Analysts determined wholesale values (seasonally adjusted on two- to five-year-old vehicles) saw a small increase of 1.4 percent in October when compared to a month earlier. On a year-over-year basis, prices moved up 4.1 […] [Read More]

One way to view the car business, as Hare Chevrolet dealer principal Courtney Cole put it, is to look at it as “riches and niches.” And the used-car business is full of those “niches” of business opportunity for dealers, particularly as credit availability opens up. “As long as you get creative enough,” she said, “there […] [Read More]