New-Car Transaction Prices Rise Nearly 2% in November

The estimated average transaction price for light vehicles in the United States was $34,948 in November, an increase of 1.7% compared to the same time last year, according to Kelley Blue Book.

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Collector-Car Auction Placing 3,000 Vintage Cars Up for Bid

Mecum Auctions will place more than 3,000 classic cars up for auction at the Mecum Kissimmee 2017, the auctions largest event of the year is open to sellers, buyers and spectators.

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IronPlanet to Auction 500 Heavy Equipment Assets

IronPlanet will auction roughly 500 late model, low-hour machines from several manufacturers and construction companies on Dec. 7. This will be followed by an online-only auction on Dec. 8.

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XLerate Acquires Lone Star Auto Auction in Texas

The XLerate Group has acquired Lone Star Auto Auction (LSAA) in Lubbock, Texas. The independent auction joins XLerate’s existing Texas locations in Dallas, Austin, according to XLerate.

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AiM Announces Leadership Hire, Promotion

Alliance Inspection Management has named Michael Connolly as its vice president of auction operations and promoted Jeff Gaetz to vice president of business development, a newly created position with an initial focus on auction and related business.

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KAR CEO Addresses Future of Auto Remarketing

Jim Hallett, chairman and CEO of KAR Auction Services, Inc., gave a keynote address at the Fleet Europe Remarketing Forum in Barcelona about his views on the future of automotive remarketing based on over 40 years of industry experience and lessons learned as the leader of KAR Auction Services.

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Depreciation Rises as Holiday Shopping Begins

Depreciation for used cars and trucks saw a slight uptick during the week of Nov. 11, which may have been the result of Thanksgiving shopping activity. Sub-compact crossovers had the highest wholesale values for both car and truck segments by staying flat.

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Trade-In Equity Could Dampen New-Vehicle Sales

New vehicle sales are on pace to top last year's sales. However, car buyers are rolling over negative equity from their trade-ins in record numbers, according to Edmunds.com.

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MetroGistics Names VP of Information Technology

MetroGistics has promoted Craig Clayton to vice president of information technology, the vehicle logistics provider has announced.

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NextGear Capital Awards Independent Auctions

NextGear Capital honored four independent auctions during its fourth annual Auction Partners Awards ceremony for their services toward growing and supporting the overall industry and their communities.

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