News

ServNet Owners Gather for Fall Owners' Meeting

Owners of the 31 ServNet Auctions gathered in Waverly, NY, for the group's Fall Owners' Meeting, which was hosted by the Barber family at State Line Auto Auction, one of the founding members of the ServNet Auction Group.

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Manheim Names New General Managers

Manheim has promoted six leaders to general manager roles at seven operating locations in Florida, Oregon, Texas, and Quebec, Canada.

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Manheim Updates Online Platforms

The enhancements, which took effect last month, are designed to help buyers find relevant inventory quicker and make the sale process easier and faster.

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Pittsburgh Auto Auction Raises Funds for Children

PAA matched 100 percent of all of the donations received from vendors, employees, and customers throughout the month, and was able to present A Child’s Place at Mercy with a check in the amount of $15,000.

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Wholesale Used-Vehicle Prices Up 1.3 Percent

Wholesale used-vehicle prices in October averaged $9,678 - up 1.3 percent compared to September and up 0.9 percent year-over-year.

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ADESA Changes Management at 2 Locations

ADESA, a business unit of KAR Auction Services, announced changes to its auction management teams at ADESA Atlanta and ADESA Phoenix.

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ALG Adds Vans to Residual Value Awards

For the first time, compact and full-size commercial vans were included in the award's 26 recognized vehicle segments.

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American Auto Auction Group Rebrands as XLerate Group

Cam Hitchcock, CEO of American Auto Auction Group (AAAG), announced the rebranding of AAAG at the opening ceremonies of Used Car Week’s National Remarketing Conference.

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Depreciation Reaches Yearly High in October

Domestic cars lost the most in value at 3.2 percent among vehicles from the 2009-2013 model-years, while domestic trucks lost 2.1 percent. Compact pickups and full-size passenger vans and full-size cargo vans showed the most strength.

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2014 Certified Pre-Owned Study Results

According to the study, shoppers are increasingly considering CPO vehicles, and once shoppers turn into buyers, they are satisfied, loyal, and many are likely to turn into new-car buyers for future purchases.

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