Registration for the 2017 Conference of Automotive Remarketing (CAR) is now officially open, and those who register early can save $100 by signing up before Feb. 3. The 22nd annual CAR conference will be held Mar. 1-2 at the Paris Las Vegas Hotel.
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Wholesale prices for vehicles up to eight years in age fell 3.6% in October, which is typically one of the softest months of the year in terms of used-vehicle prices, according to the NADA Used Car Guide. However, the decline was slightly more this October than the previous three-year average decline of 3.3% for the period.
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ALG has named Land Rover and Subaru as the winners of the 2017 Residual Value Awards (RVA). Land Rover earned the top Premium Brand award, while Subaru was honored as the top Mainstream Brand.
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Wholesale used-vehicle prices in October averaged $10,499, a decline from September but a 3% increase on a year-over-year basis.
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Continuing last weeks trend, the depreciation rate for car and truck segments slowed down during the week of Nov. 4, and prestige luxury cars continued to lead cars with the lowest wholesale values of the segment. New to this week, however, were compact vans showing the lowest wholesale values across both segments with a 2.18% drop, which had rested at 0% the previous week.
Read More →KAR Auction Services has acquired Flint Auto Auction, a whole car auction facility in Flint, Mich., which will now operate as ADESA Flint.
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KAR Auction Services Inc. has announced the creation of new enterprise functions and leadership roles in product development, data analytics and strategy. The company has both promoted from within and recruited from outside sources to fill these new roles.
Read More →ACV Auctions has hired Michael Waterman as its vice president of sales. He will play a key role in helping the company grow its mobile-enabled live auctions.
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ADESA has promoted Kevin Rhoads to general manager of ADESA Kansas City, effective immediately. The previous GM of ADESA Kansas City, Harold Chapman, now leads ADESA Nashville.
Read More →Independent auctions had double-digit growth in digital remarketing transactions compared to last year due in part to offerings from OVE Cox Automotive, such as two-way text notifications and live bid and offer reports, according to the company.
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