Vehicle depreciation rates were at the lowest levels seen all year last week, as the effects of the spring market demand begin to kick in, according to Black Book’s Feb. 26 Market Insights report.
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Bob White, executive vice president and COO for ARI, will discuss the latest disruptions impacting the remarketing industry at the 2018 Conference of Automotive Remarketing (CAR) at Caesars Palace Las Vegas.
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Don Reese, a 30-year veteran of the auto sales business, will be replacing DriveTime’s previous CEO, Ray Fidel. He will also be appointed to the DriveTime Automotive Group and Bridgecast Acceptance boards of directors.
Read More →FastLane Auto Exchange, located in Mount Morris, Mich., is a dealer-only consignment auction that has been operating for over 40 years. Greg Price, a former member of the executive team at Flint Auto Auction, recently purchased the auction.
Read More →The company was founded by eight independent auction owners who developed the idea of forming a cooperative marketing network that would share ideas and promote their auctions on a national level.
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Wholesale used vehicle prices for vehicles from fleet or lease consignors increased 4.1% in January from the prior month, but fell 0.3% from the same month a year ago, according to the latest Kontos Kommentary.
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The company has appointed Paul Lips to the newly created position of chief commercial officer or ADESA, while Srisu Subrahmanyam will transition from his position at KAR and join ADESA senior management as its chief operating officer.
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The concept is fairly straight forward: a customer arrives at a Carvana Curbside, is given a personalized key card that activates doors to a room containing his or her vehicle, and can then drive off in his or her new car.
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In a reversal from the new-vehicle trend of trucks overtaking cars in market share, auction volume from the 2015 to 2018 model years favored the car segment in January. Late-model car auction volume accounted for 54% of the auction volume in January while trucks accounted for 46%.
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Vehicles led by compact vans are continuing to hold their values well through the midway point in February, thanks in part to tax season demand, according to Black Book’s weekly Market Insights report.
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