News

Vehicle Depreciation Reaches 'Seasonal High Declines'

Both car and truck wholesale values continued to fall last week, according to Black Book’s Nov. 20 Market Insights report.

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Clauss Assumes NAAA Presidency

The National Auto Auction Association (NAAA) has named Warren Clauss as president for the 2017-2018 term. Clauss assumed the post during the association's 69th annual convention in La Quinta, Calif. earlier this month.

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Lease Credit Approvals Rise to 55% in October

Lease credit approval ratings came in at 55.6% in October, an improvement over the 47.6% approval rating registered the month before, according to data from Swapalease.com.

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Five Independent Auto Auctions Join DealShield Network

The five independent auctions that will be joining include Big Valley Auto Auction, Corpus Christi Auto Auction, Greater Milwaukee Auto Auction, Houston Auto Auction, and San Antonio Auto Auction.

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Wells Fargo Dealer Services Adds $5.4M to Military Repo Settlement

Wells Fargo Dealer Services agreed to repay another $5.4 million to about 450 service members whose vehicles were repossessed by the bank in violation of the Servicemembers Civil Relief Act, the U.S. Department of Justice announced this week.

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Fleet Lease Consignor Prices Fall 1.6%

Wholesale prices for fleet lease consignor vehicles fell 1.6% in October from the prior month and 4.5% higher than a year ago, Tom Kontos said in his monthly commentary.

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Manheim to Combine Marketplace Channels

The company will be leveraging its connection with Cox Automotive brands, along with companies in the inventory management, floor planning, reconditioning, and assurance and logistics industries to create the multi-channel marketplace, according to Manheim.

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Liquid Motors Reaches Several Milestones

Liquid Motors has reached multiple significant milestones, according to the provider of remarketing software to dealers.

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AiM Launches Condition Report Website

Vehicle inspection company Alliance Inspection Management (AiM) has launched Aimcertify.com, a platform that will provide information about the condition of a car or truck located in the U.S. prior to a purchase.

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Enterprise Holdings Honors Auto Auction Partners

Enterprise Holdings will recognize 14 automotive auction partners with its 2017 Auction Achievement Awards.

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