Black Book’s Ricky Beggs spotted common themes when reviewing report summaries from personnel who attended auctions throughout the country last week. He indicated several dealers called the new-vehicle market “slow” and a “tough sell.” And a little more vital to the used-car department, Beggs shared that some dealers are saying “used buyers were a little […] [Read More]

Used-car prices in Canada jumped more than 2 percent sequentially during July as all but one volume segment moved ahead month-over-month, according to the latest RVI Market Update. Moreover, Canadian wholesale prices held steady at the same year-over-year increase seen the previous month, RVI indicated. Specifically, the RVI Used Car Price Index for Canada came in […] [Read More]

After two consecutive weeks of wholesale value declines in all 24 segments it tracks, Black Book spotted the first segment increase since the week ending Aug. 5. The lone segment whose wholesale value went up last week was the full-size crossover category (up $21), according to the latest "Beggs on the Used Car Market" video […] [Read More]

A subsidiary of Renovo Services recently completed the successful remarketing of a vehicle online from a secured storage lot. Kevin Flynn, chairman and chief executive officer of Renovo Services, praised the process established with ReposDirect.com. Flynn emphasized ReposDirect.com has initially partnered with two vendors in the online space and is committed to being platform agnostic.  […] [Read More]

Wholesale values in Canada dropped more than 2 percent in July as the market saw declines in the prices of almost every segment, according to the latest ADESA Canada Used Vehicle Price Index. Specifically, ADESA’s data — powered by ALG Canada — indicated that the index was off slightly (0.12 percentage points) month-over-month. Canada experienced […] [Read More]

Although John Isgett acknowledged that his immediate reaction to ADESA agreeing to buy OPENLANE was one of “hesitation” because of potential wholesale price hikes, the South Carolina dealer said he believes the transaction can be beneficial to dealers. [Read More]

Black Book found the wholesale market was streaking last week. For the second week in a row, all 24 vehicle segments the firm watches declined for the week. And for the sixth consecutive week, the average change within car segments was greater than the previous week. Managing editor Ricky Beggs tried to put the developments […] [Read More]

Historically low wholesale supply and continually increasing new-car prices are pushing up values in the wholesale market, according to RVI. The company saw used values jump 1.1 percent month-over-month in July and 16.1 percent year-over-year, according to the latest RVI Market Index report. More specifically, the RVI Used Car Price Index was at 1.424 in […] [Read More]

In anticipation of five major collector car auction houses expecting gross sales of more than $230 million, Hagerty rolled out a new complementary Web service to help collectors better understand the marketplace. Hagerty, an insurance agency for collector vehicles and host to a large network of collector car owners, explained it launched the tool, Collector […] [Read More]

ADESA Analytical Services discovered July’s average wholesale vehicle prices slipped below a significant threshold — $10,000. In fact, ADESA found July’s average wholesale price dropped 3 percent from June to $9,956. Analysts also pointed out that figure is 1.1 percent lower than the same month a year ago. Other than full-size cars, which ADESA believes […] [Read More]