Black Book’s wholesale market experts aren’t the only ones seeing prices declining at a notable pace. Cox Automotive also reported this week that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 3.6% from July during the first 15 days of August. Experts said that movement pushed the Manheim Used Vehicle Value […] [Read More]

It might sound like someone’s prediction of the four college football teams that might be in the running for a national championship this season, but it’s the four newest states where the CarGurus Instant Max Cash Offer now is available. On Thursday, CarGurus announced the rollout of this program in four additional states — Alabama, […] [Read More]

For the third week in a row, Black Book reported that wholesale values decreased by at least 0.85%, prompting analysts to say those price declines are “far exceeding the levels that are expected for this time of year.” According to its newest installment of Market Insights released on Wednesday, Black Book indicated that wholesale values […] [Read More]

It’s been a busy summer for IAA on the expansion front. After previously sharing updates about moves in Indiana and Hawaii, IAA on Wednesday announced that it opened a new branch located in West Palm Beach, Fla. The global digital marketplace connecting vehicle buyers and sellers now has 11 locations in the Sunshine State with […] [Read More]

Manheim has been busy fine-tuning its technology, as well as bringing new products to the market and strategic moves to further convenience and efficiency for its clients.  Brad Burns, associate vice president of vehicle information at Manheim, has helped lead the push. Manheim put Burns to work, starting with the promotion to his current role […] [Read More]

Acquiring America’s Auto Auction — and merging that business’ 23 auction sites with XLerate Group — just makes good business sense, according to Cam Hitchcock, chief executive officer of America’s Group. The newly consolidated company, which has rebadged its 16 XLerate auction sites with the America’s Auto Auction name, has a broader footprint and an experienced […] [Read More]

Mergers and acquisitions now have involved one of the notable operations associated with collectable cars. On Thursday, IMG, an Endeavor company and a global leader in events, media, sports and fashion, announced that it has acquired a majority stake in Barrett-Jackson, one of the premier collector car auction and live events companies. The companies said […] [Read More]

Black Book chief data science officer Alex Yurchenko previously predicted, “We expect the wholesale prices to accelerate their declines in August as consumers are staying away from large purchases.” Black Book’s newest weekly data reinforced Yurchenko’s expectations, since wholesale values dropped another … [Read More]

Next week, the National Auto Auction Association will to celebrate the annual Auto Auction Week, which is designed to raise awareness of the wholesale auto industry and importance and to pay thanks to team members and customers. “NAAA is proud of the resilience and hard work of our members and customers that have kept the […] [Read More]

The first half of the year was a busy one for Auction Academy’s largest class in the 10-year history of the training program. Auction Academy officials recently highlighted Class Group 7 includes 30 students from 17 states, representing a variety of disciples within the automotive industry, including auction operations, floorplan and finance, technology and remarketing. […] [Read More]