Wholesale used vehicle prices increased in May, suggesting dealers have continued to achieve efficiency gains that allow them to bid-up auction prices even as gross margins narrow.
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The Texas Lone Star Auto Auction, an XLerate Group auction, asked dealers to open their hearts and their checkbooks this past week for a fundraising sale benefiting the Make-A- Wish Foundation.
Read More →Manheim has announced its plan to continue growing its auction network and inventory services.
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Some highlights from the 2016 report include NAAA-member auction sales rose an estimated 6.3 percent to 9.3 million units in 2015. Additionally, wholesale vehicle prices were just 1.2-percent short of a 2011 high.
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Auction Frontier LLC has launched Velocicast, a next-generation simulcast service developed for the wholesale auto auction industry.
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The wholesale used-vehicle market finished 2015 stronger than expected with an average 13.2% depreciation rate for used vehicles two to six years old and trucks retaining their value 9% better than passenger cars on average.
Read More →LINE-X showed its continued commitment to U.S. veterans by donating $50,000 to UCLA Operation Mend
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LINE-X is showing its continued commitment to U.S. veterans by auctioning a customized 2013 Chevrolet Camaro 1SS Coupe at the Mecum Auction in Anaheim, Calif., November 12-14, 2015, with proceeds going to UCLA Operation Mend.
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The 2003 Cadillac Escalade ESV, used on screen by James Gandolfini in his iconic role as Tony Soprano, will be auction by Boston-based, RR Auction.
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Used vehicles sold at auction declined 1.5% in value in September — a depreciation pace relatively unchanged from August — in a month that saw relative strength in some truck segments and compact cars continue their slide, according to Black Book.
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