Black Book regularly recaps what happened during the previous week within the wholesale market, as highlighted in this previous report. On Friday, the division of Hearst announced an expanded data offering for its residual valuations, looking forward as long as 10 years. Previously, Black Book said residual values were available for up to seven model […] [Read More]

On Thursday, IAA announced an expansion in a fifth state so far this year, adding California to the list that already includes New Jersey, Florida, Indiana and Hawaii. IAA highlighted capacity growth in two important California regions. The company said IAA Fresno has expanded again to meet growing demand in the key market of the […] [Read More]

Darrin Aiken, a recent college graduate at the time, had been working for Kmart at local stores in his area of Illinois for about a year in the 1980s, and decided to make a go at selling cars — a potential career he had been eyeing for some time. So, like any young entrepreneurially minded […] [Read More]

The National Auto Auction Association just wrapped up its annual convention last month in Dallas, but the trade group had more event news to share on Tuesday. Along with Cox Automotive Mobility and the Burke Porter Group, NAAA said it will be hosting the inaugural ADAS Summit from 11:30 a.m. (ET) to 1 p.m. on […] [Read More]

The experts at Black Book and Cox Automotive are seeing wholesale prices and auction sales rates decline this month. The severity of those movements depends on which report you examined on Tuesday. Beginning with Market Insights from Black Book, wholesale values softened another 0.82% last week, which was … [Read More]

ADESA said Monday it has named new general managers at its Chicago, Salt Lake and Los Angeles vehicle logistics centers. Appointed to those positions are Ted Coates (ADESA Chicago), Scott Crane (ADESA Salt Lake) and Jesse Estrada (ADESA Los Angeles). “We’re very pleased to fill these pivotal positions with strong internal candidates who bring deep […] [Read More]

As previously reported in Auto Remarketing, there were more than 52,000 reports of stolen catalytic converters in 2021, which was a 13-fold increase from 2019, according to the National Insurance Crime Bureau (NICB). ACV is looking to help dealers have more confidence that their next piece of inventory hasn’t been impacted by criminals with its […] [Read More]

There are three types of vehicles that have either started arriving in the auction lanes or are likely to do so soon, with each speaking to a larger industry trend — those being flooded vehicles, repossessions and model-year 2023 cars. Black Book spoke to these trends in its latest weekly Market Insights report, recapping the week […] [Read More]

Hyundai Glovis, the logistics arm of Korean conglomerate Hyundai Group, has acquired a family-owned automotive auction in Pennsylvania. It is the first acquisition in a national wholesale to retail business Hyundai Glovis plans to build in the United States. “In Korea, Glovis is the largest auction house. The US is the largest used-car market in […] [Read More]

The timeframe for data included in the newest Market Insights from Black Book coincided with the first day of October. That week also included Hurricane Ian smashing into Florida before drenching the Carolinas and other parts of the East Coast. With the resulting flooding likely destroying an undetermined number of vehicles, Black Book’s analysts are […] [Read More]