During March, Canada’s wholesale prices showed the most dramatic sequential gain in nine months and also jumped by more than 13 percent year-over-year, according to the latest RVI Market Update. Specifically, RVI Group indicated that the RVI Used Car Price Index was 0.998 in March, representing a 3.2-percent increase from February and a 13.7-percent year-over-year hike. The […] [Read More]

In order to facilitate its previously announced debt refinancing, KAR Auction Services reported preliminary financial results for the first quarter, including a net income jump of more than $30 million. Executives indicated Wednesday they expect to post $482.7 million in first-quarter revenue, up from the figure in the year-ago quarter of $458.4 million. That rise […] [Read More]

Prices in the wholesale market continued to move upward this past week, though the pace of increase was not as drastic as it had been in weeks before, according to Black Book managing editor Ricky Beggs. Specifically, 58 percent of value adjustments Black Book made last week were upward changes. While this is certainly a […] [Read More]

Among the popular themes and topics of discussion at the recently held Auto Remarketing Canada 2011 conference was the emerging role of the dealer-to-dealer online wholesale sales of used vehicles, as well as the growing presence of auction sales that are open to the public. Do these remarketing avenues work, and are they ideal for […] [Read More]

Reflecting on a week where overall wholesale values continued to climb, Black Book’s Ricky Beggs found that late-model used units, in particular, are seeing escalating demand in the auction lanes. The cause? As one might guess, Beggs pointed to the dynamics stemming from a feared production shortage in Japan as the island nation still battles […] [Read More]

eFleet Direct announced Friday that it has spread its footprint into the Denver market by opening a staging and processing facility in suburban Commerce City, Colo. Officials pointed out that the region’s current market conditions suggest that “demand for quality pre-owned vehicles is at an all-time high.” And since eFleet Direct has opened up a […] [Read More]

Canadian dealers ramped up vehicle sourcing for the spring selling season during March, according to ADESA Canada president and chief operating officer Stéphane St-Hilaire this week. He said this is one of the elements that helped push auction prices to more than a 2-percent sequential gain during the month, St-Hilaire sat down with Auto Remarketing Canada on Wednesday at […] [Read More]

Never before has Black Book made this many adjustments in a single week. And the majority of these adjustments were for prices needing to be higher. Black Book managing editor Ricky Beggs indicated that he and his colleagues made more than 22,000 price adjustments last week as the demand for clean vehicles brought in more […] [Read More]

In addition to pointing out the most-recent reasons for climbing wholesale prices — escalating fuel costs and problems stemming from the disasters in Japan — ADESA’s Tom Kontos tried to frame the current market situation in reference to a climate veteran dealers might remember. Kontos turned back to how dealers reacted during the late 1990s […] [Read More]

Along with sharing some company performance metrics from the first quarter, OPENLANE pinpointed how much its March Market Index dropped. OPENLANE determined the U.S. Market Index settled at 106, down 3 percentage points from the previous month and 2 percentage points from the same month in 2010. Prompting that overall decline were three of the […] [Read More]