Wholesale
Lane watch: Channeling Darth Vader voice to describe current softening wholesale trends
Tuesday, Sep. 27, 2022, 06:22 PM
Auto Remarketing Staff
Vanity Fair reported last week that James Earl Jones was retiring as being the voice of Darth Vader in future “Star Wars” projects. Too bad. Jones’ narration of the opening segment of Black Book’s Market Insights might have been appropriate to articulate how wholesale values softened another … [Read More]
Lane watch: Wholesale value decline starting to leave retail impact
Wednesday, Sep. 21, 2022, 05:41 PM
Auto Remarketing Staff
Black Book explained that typically it takes six to eight weeks for retail market prices to reflect declines in wholesale pricing. The newest installment of Market Insights showed the automotive world is about at that point. Analysts reported wholesale values fell another … [Read More]
Wholesale prices continue notable downward slump at September midpoint
Monday, Sep. 19, 2022, 08:15 PM
Auto Remarketing Staff
Wholesale prices are softening so much that even year-over-year comparisons made by Cox Automotive show only modest differences. Cox Automotive reported on Monday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dropped … [Read More]
Auction executives prepared for continued merging of wholesale-retail lines
Tuesday, Sep. 13, 2022, 07:42 PM
Joe Overby, Senior Editor
As the lines between the retail and wholesale car markets merge, blur and otherwise crisscross, auto auction companies are paying attention and readying themselves. It’s certainly top of mind for the respective leaders of the three largest groups of auto auctions, who participated on a wide-ranging panel here at the National Auto Auction Association’s annual […] [Read More]
Lane watch: Cautious buyers & firm floors permeate current market
Tuesday, Sep. 13, 2022, 05:37 PM
Auto Remarketing Staff
Upon reporting that wholesale values dropped another 0.93%, Black Book gave a succinct summary of the current auction scene through its latest installment of Market Insights released on Tuesday. Analysts said, “The market continued to … [Read More]
Still historically high, Black Book index falls to lowest level in 10 months
Monday, Sep. 12, 2022, 08:14 PM
Auto Remarketing Staff
Black Book’s measure of used-car prices was still up 11% last month and remains 61% higher than pre-pandemic levels. But here’s some news that may be less scary for dealers: August’s reading of the company’s Used Vehicle Retention Index was at its lowest level since October, coming in at … [Read More]
Cox Automotive names senior VP at Manheim, NextGear
Monday, Sep. 12, 2022, 06:46 PM
Auto Remarketing Staff
Cox Automotive announced last week that Peter Grupposo was named senior vice president of sales for the commercial sales, dealer sales and market insights teams at Manheim and NextGear Capital. Holly Capps, who held the position previously, is retiring from that role at the end of the year, following a 25-year tenure with Cox Enterprises. […] [Read More]
NAAA convention roundup: New VP, Industry Pioneer & Hall of Famer
Friday, Sep. 9, 2022, 04:47 PM
Auto Remarketing Staff
The National Auto Auction Association annual convention wrapped up in Dallas on Thursday with a flurry of announcements, including the election of a new vice president, an inductee into its Hall of Fame, another Industry Pioneer recognized, naming of this year’s Auctioneer of the Year as well as 2022 Warren Young Fellows for chapter presidents. […] [Read More]
PODCAST: Dana Lowenthal & Patrick Brennan of Cox Automotive Inventory Solutions
Friday, Sep. 9, 2022, 04:34 PM
Auto Remarketing Staff
During the NAAA annual convention, Cherokee Media Group senior editor Joe Overby shared a conversation with two executives from Cox Automotive Inventory Solutions — Dana Lowenthal and Patrick Brennan. Among other topics, they discussed how dealers are leveraging auctions today, whether they’re still walking the lanes or going online to find the inventory they need. […] [Read More]
Manheim index makes nearly record-breaking drop in August
Thursday, Sep. 8, 2022, 06:02 PM
Auto Remarketing Staff
While still higher versus a year ago, Cox Automotive noticed its wholesale price index made a near-record move lower in August. Cox Automotive reported on Thursday via a Data Point that wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased … [Read More]