The recent surge in wholesale prices apparently isn’t over, but the near future is likely to see an extended slowdown in values, according to the RVI Group. Following what the firm believes will end up being a 14.1-percent year-over-year increase in the RVI Used Car Price Index for full-year 2011, wholesale prices are projected to […] [Read More]

Black Book’s Ricky Beggs has mingled within a fair share of auction lanes, but he witnessed activity developing last week he doesn’t ever remember seeing before. What was it? The vice president and managing editor explained during his weekly video series “Beggs on the Used Car Market.” Beggs began with, “While I was standing on […] [Read More]

To boost remarketing of repossessed vehicles, OPENLANE subsidiary Recovery Database Network and MVCONNECT recently reached limited version user agreements, meaning MVRecovery and MVIntel now are limited version users on RDN. The parties also entered into the following additional business relationships: —MVRecovery and MVIntel entered into repossession services provider agreements with OPENLANE, allowing them to remarket […] [Read More]

In explaining why the Manheim Used Vehicle Value Index slipped in September for the fourth month in a row, chief economist Tom Webb began his last conference call of the year by referencing a point he made earlier in 2011. “On last quarter’s call I tried to dissuade you from the notion that record used-vehicle […] [Read More]

On Thursday, KAR Auction Services announced three key appointments to the executive management team of OPENLANE for both the U.S and Canada. KAR named Jason Ferreri as senior vice president in charge of commercial sales. The company gave added responsibility for OPENLANE’s dealer sales to Tim Zierden to go with his capacity as senior vice president […] [Read More]

In its ongoing efforts to standardize the remarketing industry for enhanced customer service and satisfaction, the National Auto Auction Association on Thursday chose to adopt an Auction Block Announcement Standard. The association board approved the set of minimum recommended announcements at its 63rd annual conference last month in Chicago. Now in effect, the Auction Block […] [Read More]

In addition to his monthly look at the specialty wholesale market, Black Book’s Ricky Beggs shared how dealers are zeroing in more on specific vehicles they need when going to the lanes. “From all of the reports and insight we have received, our view is that the used industry is focused on getting the right […] [Read More]

Insurance Auto Auctions recently signed a long-term agreement to continue its 17-year partnership with the National Kidney Foundation. Officials highlighted the relationship will continue to drive charitable donations and provide the National Kidney Foundation with funding to provide additional life-saving services to both patients and the medical community through its nationally recognized Kidney Cars Program. […] [Read More]

Manheim expanded its Trade Desk Wednesday to support more dealers across more sales channels. The company highlighted director of Manheim Trade Desk Ben Gutwein and his team will now offer both high-volume buyers and sellers one-on-one advice on Manheim’s complete portfolio of in-lane and digital products and services 24 hours a day, seven days a […] [Read More]

Because of more than two years of success remarketing vehicles online, Toyota Financial Services told Auto Remarketing Friday that it’s committed to pushing its offerings to the Internet before they go down physical auctions lanes. Mike Reid, national manager of remarketing at Toyota Financial Services, said late last week, “Everything we have a title on will go […] [Read More]