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NewsDecember 9, 2016

IARA Hosts Compliance Committee Summit

The IARA held its Compliance Committee summit meeting where it laid out the plans for the organizations newly formed committee that explores the simplification of compliance and audit procedures in the remarketing industry.

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NewsDecember 9, 2016

Subprime Delinquencies Rise, New York Fed Reports

A notable deterioration in the performance of subprime auto loans in the third quarter has shown approximately 6 million individuals that are at least 90 days late on their auto loan payments, the Federal Reserve Bank of New York has found.

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NewsDecember 9, 2016

Used Vehicle Values Weakened in November

Five model years of used vehicles depreciated 2.3% in November, which showed a slight improvement from October and remained in line with the typical weakening of values at this time of year, according to Black Book data.

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NewsDecember 8, 2016

CFPB Probing Auto Repossession Firms

The Consumer Financial Protection Bureau (CFPB) has begun actively evaluating the practices of vehicle repossession firms around the handling of personal property recovered from a repossessed vehicle.

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NewsDecember 8, 2016

Element Honors Manheim Auctions with Remarketing Awards

Element Fleet Management has honored several Manheim sites for best-in-class performance at the 18th annual Remarketing by Element awards.

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NewsDecember 8, 2016

Manheim Names Four GM Positions

Manheim has appointed four general manager positions at locations in Georgia, Arizona, and New Mexico.

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NewsDecember 7, 2016

Monthly Wholesale Prices Continue to Slide, Manheim Says

Wholesale used vehicle prices declined 1% in November, continuing the downward trend that was 0.7% last month, according to Manheim's Used Vehicle Value Index.

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NewsDecember 6, 2016

Truck Depreciation Surpasses Car Depreciation

Trucks depreciated higher than cars for the first time this year, with truck values decreasing 0.68% on a volume-weighted basis while overall car values decreased by 0.56%.

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NewsDecember 2, 2016

New-Car Transaction Prices Rise Nearly 2% in November

The estimated average transaction price for light vehicles in the United States was $34,948 in November, an increase of 1.7% compared to the same time last year, according to Kelley Blue Book.

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NewsDecember 2, 2016

Collector-Car Auction Placing 3,000 Vintage Cars Up for Bid

Mecum Auctions will place more than 3,000 classic cars up for auction at the Mecum Kissimmee 2017, the auctions largest event of the year is open to sellers, buyers and spectators.

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