Full-size cars, sporty cars, and compact vans were the only vehicle segments that saw their average wholesale values increase in value last week, according to Black Book’s March 20 Market Insights report.
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Southeast-region auctions are seeing a seasonal increase in values driven by tax-return-driven buying at dealer lots, but say the spring bump isn't as pronounced in 2017 in part due to the delay by the IRS to issue returns in late February.
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Central Auto Auction of Hamden, Conn. will open a new vehicle evaluation center, service department that specializes in tires, and a fourth lane in 2017, the auction announced.
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The XLerate Group has acquired Corry Auto Dealers Exchange (CADE) from Merle Swift, which marks the group's entry into the Pennsylvania auction market, the company has announced. Terms were not disclosed.
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The National Auto Auction Association awarded XLerate Group Auctions with the Warren Young Scholastic Foundation award that signifies the auction group’s participation in the NAAA’s Auction Safety Certification and Lane Safety training program.
Read More →Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, has announced that it will be expanding into the Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania, and Oregon markets.
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Manheim has opened its first auction in Arkansas with Manheim Little Rock, and will hold weekly sales. The company's expansion into Arkansas was driven by dealer demand in an under-served area in the U.S., the company said.
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Manheim has appointed three new general managers at its El Paso, Texas; Birmingham, Ala.; and Omaha, Neb. locations in an effort to drive future region growth, according to a company announcement.
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Challenging winter weather led to a slight year-over-year decline in auction sales through January in the Midwest region of the U.S. However, as January concluded and February progressed, sales began to pick up.
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CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.
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