Auto Recalls Reach 53.2 Million in 2016

Automakers recalled a record 53.2 million vehicles last year in the United States, according to the National Highway Traffic Safety Administration (NHTSA). In 2015, 51.2 million vehicles were affected by recalls.

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Weekly Compact Van Wholesale Values Rise

Full-size cars, sporty cars, and compact vans were the only vehicle segments that saw their average wholesale values increase in value last week, according to Black Book’s March 20 Market Insights report.

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Used Car Prices 'Softening,' ADESA's Kontos Says

February provided "further concrete evidence of softening" of used vehicle prices during a month that usually shows improvement from January, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.

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Southeast: Tax Season Kicks In, Cars Bounce Back

Southeast-region auctions are seeing a seasonal increase in values driven by tax-return-driven buying at dealer lots, but say the spring bump isn't as pronounced in 2017 in part due to the delay by the IRS to issue returns in late February.

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Manheim Chicago Recognized with Service Award

Element Fleet Management recently awarded Manheim Chicago with the “Above and Beyond” Award, according to a company announcement.

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Stolen Manheim Milwaukee Units Involved in Accidents

Two of four vehicles stolen from Manheim Milwaukee's auction lot earlier this month were recovered after they were involved in accidents near the auction.

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KAR Invests $15M in TradeRev

KAR Auction Services has extended up to $15 million in credit to Toronto-based Nth Gen Software to expand TradeRev, an online dealer-to-dealer auction portal, the company announced March 16.

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Auction Academy Expands Training Program

The Auction Academy is expanding its training to include commercial account representatives and dealers for the first time in its five years of existence, the continuing education organization has announced.

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Central Auto Auction Expanding Conn. Facility

Central Auto Auction of Hamden, Conn. will open a new vehicle evaluation center, service department that specializes in tires, and a fourth lane in 2017, the auction announced.

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Cars Outperform Trucks, Luxury Cars Continue to Falter

Luxury vehicles, which experienced the biggest depreciation change among both light car and truck segments last week, continued to struggle last week, according to Black Book’s March 13 Market Insights.

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