On Tuesday morning, Cox Automotive gave a positive update about the status of Manheim operations in Florida in the path of Hurricane Ian. Tim Janego, Manheim regional vice president for Southeast, said in a message to Auto Remarketing, “We are grateful to share that all Manheim employees in the path of Hurricane Ian are safe […] [Read More]

With the industry surveying damage in Florida as businesses in Georgia and the Carolinas brace to be in the storm’s path, the National Auto Auction Association (NAAA) made a call to help places impacted by Hurricane Ian. NAAA said in an industry message sent on Friday morning that association leadership had been in contact with […] [Read More]

Nearly 62% of the used electric vehicles available on the retail market are Teslas, with the next-closest competitor (Nissan) having a 6.6% share, according to Autonomy’s debut EV Market Report released earlier this month. That’s part of why the number of EVs flowing into wholesale auctions has remained small, as Tesla’s used vehicle tend to […] [Read More]

Dent Wizard International has named a new chief financial officer. Hired for the position was Bryan Wynn, who comes over from Bain Capital, where he worked 12 years. Wynn’s most recent post at Bain was as an executive vice president supporting the company’s investment in Dealer Tire LLC, which is the parent company of Dent […] [Read More]

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]

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 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]

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]

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]

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]