The housing market continues to see improvements from the recession slump, and this trend may be affecting the automotive industry, as well. With more homes being built, it seems demand is also on the rise for some vehicles often used in construction projects. According to Black Book, a review of December used-car and wholesale auto […] [Read More]

It seems Hurricane Sandy is not done with the automotive industry. Offering a take on December’s unseasonably strong wholesale prices, ADESA’s Tom Kontos noted in the latest “Kontos Kommentary” that the superstorm may have played a role in these high rates. “Some residual effects of Superstorm Sandy may be evident in the relatively strong wholesale […] [Read More]

Capital Automotive Reconditioning Services is reaching its 10-year anniversary this year and is making executive changes to prepare for the next decade. Since its founding in 2003, CARS Recon has expanded to 28 locations, grown to include approximately 550 full-time employees and processed more than 3 million vehicles for sale at auctions.  The company began […] [Read More]

With final new-car sales numbers for 2012 rolling in, Black Book’s Ricky Beggs took a look at how these high numbers will affect wholesale auction activity. As the managing editor shared in his latest “Beggs on the Used-Car Market” video report, new sales are reported to have come at 14.49 million, marking a 13-percent increase […] [Read More]

Black Book announced on Monday its choice for the role of vice president of mobile solutions, tapping a former Manheim exec to fill the spot. Taking on the position at Black Book is Mike Williams, who will be responsible for all of the company’s mobile products and services. The role includes developing new products, enhancing […] [Read More]

To kick off its silver anniversary year, ServNet announced that the auction group has welcomed its 31st member. Joining the group is Ocala Auto Dealers Exchange in Florida. OADE’s sister auctions — Sanford Auto Dealers Exchange and Cocoa Auto Dealers Exchange — were already ServNet members. The auction was formerly known as Big Sun Auction […] [Read More]

Over the holidays, one South Carolina auction, in particular, and its dealers invested in the community, raising funds and collecting items for a children’s charity. For four straight weeks, Charleston Auto Auction held a 50/50 drawing each sale to benefit the Low County Orphan Relief — which helps children removed from their homes due to […] [Read More]

November data compiled by the National Auto Auction Association showed average prices dipped both year-over-year and year-to-date for 2012. NAAA economist Ira Silver determined that November prices softened by 3.0 percent compared to the same month a year earlier. Through the first 11 months of 2012, prices ticked 1.8 percent lower. Moving to a look […] [Read More]

Though he doesn’t expect Avis Budget Group buying Zipcar to have much of any real impact on used-vehicle values — especially on a short-term basis — Black Book’s Ricky Beggs says there’s an interesting remarketing opportunity that can be spun from the transaction. [Read More]

Along with offering his thoughts on what this year might hold, Black Book’s Ricky Beggs didn’t use the term “normal” to describe the closing of 2012. In his first online video analysis of 2013, Beggs told dealers that “throughout these party-filled holidays and a couple of slightly shortened work weeks, I must tell you that […] [Read More]