The remarketing industry observed a lower number of off-lease units in 2020 than anticipated; fleets extending asset lifecycles; and fewer repossessions than what would occur in a normal year.
Remarketing professionals at several leading FMCs are observing a strong truck market in the wholesale market, a continued shift of fleet portfolios moving toward more crossovers/SUVs, and an increase in digital auction activity.
The National Auto Auction Association (NAAA) has been elected Garrison Hudkins as its vice president for the 2020-2021 term, serving on the executive leadership team.
KAR Auction Services have revealed an all-new customer experience center of operational excellence that will simplify how customers interact and transact with the company while improving user digital experience.
Ryder System recently launched a new fully responsive, mobile-friendly used vehicle sales website, which includes an expanded inventory of used vehicles and enhanced search tools.
Wholesale used vehicle prices increased 0.9% in the first 15 days of October compared to the month of September, bringing the mid-month Manheim Used Vehicle Value Index to 162.7, a 16.0% increase from October 2019.
Columbus Day 2020 marks the 25th anniversary of the very first simulcast auction in the industry at State Line Auto Auction in Waverly, New York.
Julie Kanupke has been recognized by America’s Auto Auction for nearly 20 years of distinguished service at its Chicago auction, and has received the company’s October Spotlight Award.
ADESA brought in $20,300 during the 2020 NIADA | NABD convention and expo charity auction benefiting the NIADA Foundation.
Manheim Logistics and DHL Supply Chain have formed an exclusive collaboration to develop a more holistic transportation management system that aims to give clients and carriers the most efficient and transparent transportation experience.
Volume-weighted, overall car and truck segments both experienced continued softening in values with the overall market decreasing by 0.36% this past week.
This video features Laura Taylor of NAAA and Paul Seger of IARA discussing with Mike Antich, CAR Experience conference chair, the value of virtual events during the new landscape of less travel, social distance, and face-to-face connection loss. Attendance for the CAR Experience is free exclusively for consignors and auction personnel.
Motormindz, a global venture consultancy, partnered with NuVinAir Global, an automotive cleanliness solutions and hygienic consulting company, to assist the industry expansion of NuVinAir’s ‘“Total Health” suite of products.
KAR Auction Services, Inc. has signed a definitive agreement to acquire BacklotCars Inc., an app and web-based dealer-to-dealer wholesale platform featuring a 24/7 “bid-ask” marketplace and comprehensive vehicle inspections performed by automobile mechanics.
Manheim expanded its Digital Block sales, adding seven more locations with in-lane bidding with a live auctioneer; however, vehicles are only displayed on screens and never travel down physical lanes.