A new full-service recovery and remarketing company is aiming to take the positive elements of repo forwarding and create an outlet that benefits both lenders and repossession agencies. Relliance describes itself as a cooperative-based company designed to provide a fresh and innovative approach to serve companies looking for a national provider for recovery and remarketing […] [Read More]

Kelley Blue Book calculated that used-vehicle values dropped 2.6 percent overall in October, marking the fifth consecutive month of wholesale declines. Since peaking in June, KBB discovered used-vehicle values overall have sunk 10 percent with the most pronounced declines coming from fuel-efficient vehicles, falling more than 20 percent. “The earthquake in Japan and ensuing new-vehicle […] [Read More]

As wholesale prices and weather conditions varied throughout the country, Black Book’s Ricky Beggs spotted one steady element in the lanes last week. Black Book’s managing editor explained that dealer feedback showed, “The consistency in all markets lies with the ‘low mileage and mid-priced units are strong,’ while the commercial accounts are mostly short of […] [Read More]

ADESA thinks one wholesale factor pushed prices higher both month-over-month and year-over-year in October — a greater amount of rental vehicles coming down the lanes. Before economist Tom Kontos explained why, ADESA Analytical Services’ monthly analysis turned up the specific price movements. ADESA found October wholesale used-vehicle prices averaged $9,842 — up 0.9 percent compared […] [Read More]

With wholesale supplies still being pinched by factors dealers are well aware of, the Manheim Used Vehicle Value Index moved down only marginally in October. Manheim revealed Monday that wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) ticked lower from both the previous month and the year-ago level. The October index […] [Read More]

The year-over-year decline in auction volume during the third quarter was roughly even with the drop-off a quarter earlier, according to the National Auto Auction Association, which said volumes dipped a little more than 10 percent compared to the year-ago period. Specifically, there was a 10.1-percent year-over-year decline in auction volume during the third quarter, […] [Read More]

It was revealed last week that IronPlanet Motors has added another company to its network of approved service providers. Joining the group is EquipmentEngine, which will provide IronPlanet clients with various recovery and storage services at its 200 locations throughout the U.S. EquipmentEngine will offer IronPlanet customers such services as storage, diagnostic inspections, repairs, detailing, […] [Read More]

Hertz Global Holdings saw all of its bottom-line financial metrics soar during the third quarter, including worldwide revenues, adjusted pre-tax income and corporate EBIDTA. Hertz revealed this week that third-quarter worldwide revenues came in at $2.4 billion, an increase of 11.3 percent year-over-year (a 7.6-percent increase excluding the effects of foreign currency). The company said […] [Read More]

Dealers utilizing the services of vAuto now have another way to take care of their used-vehicle sourcing needs. Thanks to a partnership with Auction Pipeline, vAuto customers can now turn to the online platform as a source for finding used units. Dealers will be able to use vAuto’s stocking module to look at run lists […] [Read More]

While referencing expenses related to a merger that never materialized, Dollar Thrifty Automotive Group saw many of its third-quarter financial measures improve year-over-year, including a record quarterly net income total. DTAG revealed Tuesday that its third-quarter net income came in at $66.6 million or $2.13 per diluted share. A year earlier, it was $49.2 million […] [Read More]