Manheim and Adesa auctions in the path of hurricane Dorian mostly shifted to digital sales on Thursday as the storm drenched the Carolinas and Virginia.
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The new location, located in Ontario, Calif., stands eight stories tall and holds 27 vehicles.
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Overall vehicle values last week were stable, as the anticipation for Labor Day kept bidding strong at auctions, according to Black Book’s Sept. 3 Market Insights report.
Read More →The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.
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The general managers will oversee locations in California, Oregon, and Canada.
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Toyota Motor Credit Corp. will replace Mazda Capital Services as the captive consumer loan and lease financing company for U.S. Mazda dealers, according to a report filed with the Securities and Exchange Commission Wednesday.
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Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
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Auction and reconditioning services provider ADESA (div. KAR Auction Services Inc.) announced the launch of Recommendations, a new solution billed as the industry’s first personalized vehicle carousel for used-vehicle dealers.
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To increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace, Manheim is introducing flat-rate pricing for automatic post-sale inspections, providing dealers a hassle-free way to reduce their risks and help ensure vehicles bought at auction are in the expected condition.
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The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.
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