Wholesale Auction Business Grew 4.6% Last Year

Wholesale auctions sold 9.8 million vehicles worth $100 billion in 2016 with the majority coming from dealer consignment, according to the National Auto Auction Association (NAAA). The association has been surveying its members for 20 years.

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Values Stabilize After Month-Long Car Decline

Wholesale cars that have been depreciating at roughly double the rate of trucks in the past month have stabilized in the past week, according to Black Book’s June 26 Market Insights report.

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CarMax Wholesale Profit Per Unit Rises Nearly 2%

Delayed tax refunds led to a slightly higher gross profit per wholesale unit at CarMax, the company reported during its quarterly earnings call for the quarter ending May 31.

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Manheim Louisville Named Top Fiserv Auction

Manheim Louisville of Clarksville, Ill. has been named the top-performing auction of 2016 by Fiserv, Inc., a provider of financial services technology solutions.

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Carvana Expands Into Oklahoma City

Carvana has expanded its business of vehicle vending machines into Oklahoma City, which is the company's 30th market in the U.S., Carvana has announced.

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More Segments See Lower Lease Prices in June

The average monthly payment for a leased vehicle came in at $340.37 in June, a slight reduction from last month’s average of $352.80, according to online lease deal marketplace Wantalease.com.

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XLerate Charleston Auto Auction Adds Four to Sales Team

XLerate Charleston has expanded its auto auction sales team by announcing four new additions to the team, according to an announcement from the Auction.

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Small Cars Struggle Amid Low Fuel Prices

As gas prices have continued to decline, smaller vehicles — in both the car and truck segments — have also seen an accelerated rate of depreciation, according to Black Book’s June 19 Market Insights report.

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NextGear, Ready Logistics Offer Financing Tool

NextGear Capital and Ready Logistics have partnered to offer a new kind of transportation financing solution that will allow its clients to buy, floor, and transport vehicles through a single transaction, according to a company announcement.

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Honda Redesigns CPO Website

Honda has released a newly redesigned certified pre-owned (CPO) vehicle website meant to provide an easier and more focused experience for its CPO segment, which has grown by 6.8% this year, according to a company statement.

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