ADESA Says Wholesale Used Vehicle Market has Reached an “Inflection Point”

Based upon an analysis of wholesale used vehicle prices by model class, ADESA feels that a number of factors leads the company to believe that the worst is over for the used-car market.

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GMAC Smart Auction Direct Allows GM Dealers to Sell Used Vehicles to GM Dealers

Dealers who sell General Motors brands are now able to use General Motors Acceptance Corp.’s remarketing Web site to sell used vehicles to each other, according to an article in Automotive News. Approximately 4,000 dealers with GM brands have signed up for Smart Auction Direct and about 2,000 dealers have posted vehicles.

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Manheim Names New VP Dealer Sales

Mike McKinney has been named vice president of dealer sales for Manheim Auctions, the company announced on July 1, 2003. Previously, McKinney was group vice president of operations, Southwest.

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IARA Elects Two New Members to Its Board of Directors

The International Automotive Remarketers Alliance (IARA) has elected two new members to its board of directors, which has been expanded to include 18 directors.

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Porsche Launches Approved Certified Pre-Owned Program

Porsche Cars North America Inc. (PCNA) this month launched Porsche Approved Certified Pre-Owned in a move to bring younger buyers to the Porsche brand, strengthen brand loyalty and awareness, and increase the value of pre-owned Porsches, the company announced.

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Uncertainty in Wholesale Market Keeps Prices Soft

The percentage of intermediate-size fleet vehicles sold at auction in May was over 70 percent; however, their resale prices were down approximately five to 10 percent when compared against the same time last year.

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ADESA chooses Identitech’s FYI Business Process Management Framework

Identitech, a provider of integrated Business Process Management software, announced that ADESA Corp. will implement FYI software to assist with the daily processing of vehicle remarketing activities.

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IARA Announces Details of Remarketing Roundtables

The International Automotive Remarketers Alliance (IARA) has announced the details of its upcoming panel discussions at the Remarketing Roundtable being held in July.

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GSA Fleet Chooses AutoIMS for Remarketing Sales

After a two-auction pilot test during the summer of 2002, GSA Fleet spent the past winter implementing the AutoIMS Web-enabled inventory tracking system.

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Clanton’s Auto Auction Celebrates 60th Anniversary

When Clanton’s Auto Auction started up in 1943, it was called Dealer’s Motor Auction, and its first sale ran 24 cars through the lane, of which 18 were sold.

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