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Auctions•by Staff•January 9, 2024

International Automotive Remarketers Alliance, Bobit Media Enter Long-Term Agreement for CAR Event

The leading consignors trade group and the producer of the annual Conference of Automotive Remarketing (CAR) align to bolster event offerings and better serve the remarketing industry.

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Used Vehicle Values•from News/Media Release•January 8, 2024

Used Vehicle Values Fall By 20% Since 2021 Peak

Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.

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Auctions•by Martin Romjue•January 3, 2024

2023 Fleet Vehicle Sales Soar Past 2 Million Mark

The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.

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Auctions•from News/Media Release•January 3, 2024

OPENLANE Launches AI Tool to Pinpoint Vehicle Damage

The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.

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Used Vehicle Values•from News/Media Release•December 20, 2023

Wholesale Used Vehicle Prices Show Small Rise

Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.

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Used Vehicle Values•from News/Media Release•December 19, 2023

Used Vehicle Inventory Tightens as Year Ends

While the used vehicle market is not fully back to normal, it shows signs of more stability and balance.

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Fleet•from News/Media Release•December 15, 2023

New-Vehicle Inventory Surpasses 2.5 Million, 71 Days’ Supply

The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.

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Operations•from News/Media Release•December 14, 2023

AFC President Jim Money Plans to Retire Next Year

The longtime automotive remarketing executive is credited with establishing a best-in-class risk management approach and accelerating the company’s digital transformation.

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Fleet•from News/Media Release•December 12, 2023

New-Vehicle Prices Down YOY for Third Straight Month

Sales incentives were up 136% year over year in November, indicating the new-vehicle market is shifting to a buyer’s market, not a seller’s market.

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Used Vehicle Values•from News/Media Release•December 8, 2023

Wholesale Used-Vehicle Prices Decrease in November

Analysts are expecting a measured movement through December and the year, which should reach the January forecast for a 4% year-over-year decline.

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