Wholesale values declined on a sequential basis in October and the year-over-year gains the market showed were somewhat deceptive, according to ADESA’s Tom Kontos. Specifically, the average wholesale price for the month was $9,768, which is 0.7 percent softer than September and a 3.2-percent year-over-year hike, he noted. The year-over-year increase, though, is from rather soft comparables, […] [Read More]

Through a partnership with Insurance Auto Auctions, the National Kidney Foundation has launched a new philanthropic car donation program to support its charitable efforts to help combat kidney disease. [Read More]

Although overall Canadian wholesale prices showed a month-over-month upswing during October, four of six segments listed by ADESA Canada experienced weaker resale values in the auction market during the month, according to the latest ADESA Canada Used Vehicle Price Index report. Specifically, ADESA’s data — powered by ALG Canada — indicated that the index during October […] [Read More]

Carmoza Auto Transport already has one of Chrysler’s former top executives as president, and now the company has a chief executive officer who used to hold a high post at Ford. Named this week to the CEO role at Carmoza was Randy Ortiz, who previously oversaw all of Ford’s sales, production, distribution and dealership activities […] [Read More]

In addition to switching an executive from Insurance Auto Auctions over to ADESA, KAR Auction Services is taking advantage of local and state tax incentives to expand its headquarters and related work force. This week, president and chief executive officer Jim Hallett revealed the company will create up to 249 new jobs by 2015. While KAR […] [Read More]

October represented a record month for used-vehicle prices, which climbed double digits from a year ago and also showed the third-strongest month-over-month upswing this year, according to RVI Group. Not only that, but it marked the first time since April that the year-over-year upswing did not slow down from the previous month. [Read More]

Though they showed a year-over-year softening of 6 percentage points in October, Canada’s wholesale prices moved ahead of the September level, as three of four segments showed month-over-month gains, according to OPENLANE’S latest Canadian Market Index. Specifically, the Canadian Market Index was 102 in October, down from 108 in the year-ago period and up from […] [Read More]

After gaining feedback from the industry and its Client Advisory Board, which includes a cross section of consignors and dealers, SmartAuction has launched several initiatives to enhance its platform. One of the aspects of the enhancement is ramping up communication with dealers by sending alerts about vehicles that might fit their inventory needs. [Read More]

In the last day of NRC, workshops will take precedence. The topics to be covered include a sneak peek into what 2011 might bring, a 2010 residuals report, some market updates from Experian Automotive and much more. The day kicks off at 8 a.m. (PST) with breakfast. [Read More]

In Thursday morning’s keynote address, several top industry executives and dealers took to the stage to discuss the state of the market and what they are doing to drive success. The panel covered "Why Resale Values Are Critical to the Automotive Industry’s Long-Term Success." [Read More]