Ritchie Bros. Auctioneers revealed this week that it achieved some Canadian records for the company at its recent three-day unreserved public equipment auction in Edmonton. The company posted its best-ever Canadian marks for the amount of equipment sold online, most registered online bidders and most unique buyers. Not only that, the gross auction proceeds were […] [Read More]

Canadian prices were sequentially static for the second consecutive month during April, but posted a year-over-year gain of 4 percentage points, according to the latest analysis from OPENLANE. Specifically, the Canadian Market Index was at 99, a level it has held steady since February, OPENLANE indicated. By segment, three of the four categories in OPENLANE’s analysis […] [Read More]

Dealer consignment conversion rates shared by KAR Auction Services chief executive officer Jim Hallett Wednesday reinforced likely dealer observations — how units in these ADESA lanes are going to store inventory and not head back to the auction’s storage facility. In years past, dealer consignment units might have converted at 40 to 45 percent; however, […] [Read More]

Though static on a year-over-year basis, wholesale prices climbed 4 percentage points from March, according to OPENLANE. The company said Wednesday that it saw sequential growth in three of its four segments. Specifically, the company’s U.S. Market Index in April was at 109, compared to 105 during March. There were gains in the car, minivan and SUV […] [Read More]

Although it remained positive this past week, the wholesale market was “just not as aggressive” as it had been in recent weeks, according to Black Book managing editor Ricky Beggs. Of all the wholesale value adjustments the company made in the past week, less than 53 percent were upward. The proportion of positive adjustments has […] [Read More]

Though small in stature, the Mini brand appeared to be a heavywieight in the latest Industry Outlook & Residual Trends report from ALG. Not only was the company found to have the strongest mainstream brand residual positioning for May/June, but it topped the mainstream side of ALG’s Used Statistical Brand Value measure, as well, which gauges […] [Read More]

The American International Automobile Dealers Association has brought ADESA into its Affinity Partner program, the association revealed Monday. “We are very pleased to add ADESA to AIADA’s Affinity Partner program,” stated AIADA president Cody Lusk. “As a vehicle remarketing industry leader for more than 20 years, ADESA creates a quick and simple marketplace for dealers, […] [Read More]

Thanks largely to the negative impact of surging gas prices on pickup truck volume, overall auction volume during the first quarter was 8.6 percent softer than the year-ago period, according to the latest Auction Industry Report from the National Auto Auction Association. This drop follows a 2-percent year-over-year upswing during the final quarter of 2010. […] [Read More]

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]