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]

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]

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]

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]

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]

Perhaps the timeframe should be considered since the drops in wholesale values and estimated average weekly sales rate reported by Black Book derive from the span that closed during the heart of Labor Day weekend. Still, Black Book said on Wednesday that wholesale values dropped by another 0.93% last week, while the estimated average weekly […] [Read More]

The National Auto Auction Association honored two distinguished individuals as Industry Pioneers as part of its annual convention in Dallas on Wednesday. First, NAAA named Wolfe’s Auto Auctions founder and president R. Tony Wolfe as an Industry Pioneer for his leadership, vision and dedication to the auto auction industry throughout his career. Also tabbed as […] [Read More]

Wednesday activities during the National Auto Auction Association’s annual convention in Dallas included the naming of the two newest Warren Young Fellows. Collecting the accolades for 2022 were a pair of executives from the Cox family of companies — Paul Scolese and Hugo Carmona. According to news releases from NAAA, Scolese received the award for […] [Read More]

In a move that became effective Sept. 1, Dealers Auto Auction Group expanded its wholesale footprint in the Southeast by entering the Atlanta market with the acquisition of VIP Auto Auction.  By adding the location at 4600 Browns Ridge Road in Cumming, Ga., DAAG now has nine locations throughout the Southeast. “We are very excited […] [Read More]