Auctions

2 components of Ready Logistics’ new efficiency solution

GILBERT, Ariz. - 

Ready Logistics highlighted that the company is trying to bring a new level of automation and transparency to the manual process-oriented vehicle transportation sector with the launch of the HUB, a centralized communication platform that is geared to increase efficiency for clients.

By automating procedures that typically delay vehicle movement, Ready Logistics explained that the HUB can improve the carrier pickup process, speeds delivery and provides real-time insights.

“The vehicle logistics business hasn’t changed much in decades, using a manual process to get cars from point A to point B,” said Patrick Brennan, senior vice president of logistics at Cox Automotive.

“At Ready Logistics, we’re on a mission to make it faster and easier for clients to move vehicles from anywhere to everywhere — and the HUB is an example of how we’re doing it,” Brennan continued in a news release.

The Ready Logistics HUB’s two main tools are designed to increase efficiency across the transportation process:

—The Vehicle Assessment HUB can allow location agents to provide 24/7 status updates, enabling carriers to experience a seamless pickup process and improve days to deliver. It also can send instant notifications that eliminate the need for phone calls to determine vehicle location.

Additionally, this tool can offer improved reporting and greater visibility into which locations are performing to ensure timely and accurate pickups.

—The My Vehicles HUB can enable clients to access real-time status and the order history of their units in the Ready Logistics transportation system, eliminating the need to a representative.

The tool’s dashboard can allow clients to search VINs, export vehicle lists, view stats and average days to deliver, as well as track the performance of origination locations.

“The more we automate the transportation process and deliver valuable insights, the quicker our clients can get vehicles onto the frontlines of their dealerships or into an auction to be sold,” Brennan said.


IAA introduces inventory management solution for salvage buyers and sellers

WESTCHESTER, Ill. - 

Insurance Auto Auctions recently launched Active Inventory Management, the company’s latest innovation designed to help buyers and sellers outsource their salvage inventory management process to IAA.

“IAA developed the Active Inventory Management solution to help our insurance customers streamline their salvage management process and generate better economic returns,” IAA chief executive officer and president John Kett said. “IAA is committed to providing the tools, resources and technology needed to deliver an unmatched customer experience. Active Inventory Management is the latest enhancement in this effort, and early adopters have already seen improved results in returns, cycle time and internal expense.”

Using IAA's CSAToday platform, the new solution can regularly monitor vehicles, identify issues and coordinate any resolutions through its dedicated customer service team.

CSAToday is the salvage industry's first mobile vehicle inventory management tool, boasts the company.  

Additionally, Active Inventory Management currently offers a turnkey alternative that can boost APD process efficiency, according to IAA.

“As an industry leader in technology and innovation, IAA continues to develop new capabilities like Active Inventory Management that address and anticipate the needs of salvage buyers and sellers,” the company added.


Prices for 1 specific SUV segment soften in summer heat

LAWRENCEVILLE, Ga. - 

As the temperatures spike outside, Black Book isn’t quite seeing wholesale prices behave in the opposite extreme, which is sometimes the norm as we enter the remaining days of July.

The newest Black Book Market Insights report showed more SUVs dropping in price last week. In fact, editors noticed sub-compact luxury crossovers saw the most depreciation out of all segments, decreasing in value by 1.53 percent.

Meanwhile, the volume-weighted information determined that overall car segment values decreased by 0.34 percent last week, higher than the average weekly decrease of 0.27 percent in values over the previous four weeks.

Editors noted that sub-compact car, mid-size car and luxury car segments declined the most by 0.53 percent, 0.53 percent and 0.48 percent, respectively.

Again volume-weighted, Black Book found that overall truck segment values — including pickups, SUVs and vans softened by 0.30 percent last week, higher than the average weekly decrease of 0.14 percent in values during the previous four weeks.

Editors added full-size pickup was the best performing truck segment while the sub-compact luxury crossover segment declined the most.

“Used vehicle values are holding well considering it is middle of July when we normally start to see a steeper seasonal drop,” said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics.

Turning next to what Black Book’s representatives in the lanes noticed last week, observers didn’t spot any situations too out of the ordinary with August approaching.

According to a report out of the Northwest, action in Washington produced, “A normal July sale this week. Pickup trucks commanded the most attention and the strongest values.”

In Colorado, a similar situation unfolded. “Everything sold pretty well today but the inventory is down here from a normal July. Overall, it was a typical sale with regard to the number sold.”

Up in Wisconsin, Black Book’s lane watcher said, “It seemed as if there were more average and rough vehicles in the sale today. Despite the condition of the vehicles they sold well overall.”

And the other two reports percolated out of Texas where one observer mentioned, “Values were down on the rental vehicles today especially when the vans hit the sale blocks.”

The other anecdote from the Lone Star State mentioned, “Attendance was down considerably in the lanes, but the Internet buyers were stepping up. They were paying the floor prices or more which made for a good sale.” 


Manheim’s Brazil growth plan includes acquisition & partnership with 6 companies

ATLANTA - 

Manheim’s presence in one of the BRIC nations became more robust this month with a long-term commitment in Brazil.

Cox Automotive announced that Manheim acquired Pacto São Paulo along with developing commercial partnerships with six other auction companies to invest in the local marketplace.

Manheim highlighted that Pacto São Paulo is located approximately 250 kilometers, or 155 miles, from the São Paulo metro region in the city of Ibaté. The auction began operations as Manheim facility on July 3 with chief executive officer Daniel Nunes Romero heading up the new venture that’s also set to include a heavy investment in technology.

Besides the acquisition of Pacto São Paulo, Manheim is part of a commercial and technological partnership with Pacto North and Northeast as well as Leilomaster. In the coming years, Cox Automotive highlighted that Manheim technology will be implemented into local businesses, meaning they will use the same level of facilities as Manheim’s existing auction centers in Guarulhos and its newest auction in Ibaté.

Manheim will work with six additional auction centers as part of the partnership in order to boost the logistics and support networks in Brazil. Manaus, Belém, Fortaleza, Goiânia, Brasília and Salvador will be opened in August.

Romero explained that making the sales clearer is the main goal of this acquisition.

“Brazil is one of the only countries with a particular regulation in the auction sector, but we are way below the USA and Europe on sales of used cars, with just 8 percent of them made through auction,” Romero said. “This is due to a lack of information provided, and we are set to change that by combining our local expertise with Manheim technology.”

The vehicle inspection process developed by Manheim in Brazil will be introduced to Pacto, bringing new technology to Brazil’s vehicle remarketing sector and expanding the use of 360-degree imagery in the market. This system forms part of a rigorous inspection process with photos, vehicle details, demonstration of damages and extensive information to assist the purchase decision.

Romero has a strong name in the Brazilian auction market, with more than 14 years’ experience at Pacto North and Northeast. He will work alongside Marcelo Valland, chief operating officer and official auctioneer of Manheim, who has more than 20 years of experience in the industry.

The partners will also work together on Leilomaster, an auction company from Goiânia state.

Extensive knowledge of local markets led Manheim to choose the executives who would lead the business expansion in Brazil.

“We looked for a partner who knew the local culture and was ready to transform the whole local market, applying our technologies and services to physical and online auctions, which represent 55 percent of the sales here,” said Nuno Castel-Branco, international business director from Cox Automotive.


Copart expands N.H. & Mass. locations

DALLAS - 

Copart has expanded its locations in both Candia, N.H., and West Warren, Mass., the company announced on Tuesday.

"We have grown our business in New England and across the Northeast and are proud to announce these expansions," Copart chief executive officer Jay Adair said in a news release. "They enable us to continue to provide outstanding service to our customers."

The Candia location’s online car auctions are held every Tuesday at 10 a.m. (ET) and the West Warren location hosts its sales every Wednesday 10 a.m. (ET).

At both locations, auctions are accessible through computers, tablets and other mobile devices. And bidding kiosks are also available at each location, according to Copart.

Buyers interested in either locations’ inventory can also attend Copart's evening auctions, called "Night Cap Sales." These sales occur each week, Monday through Thursday.

Both locations’ inventories are represented in the Eastern Region auctions at 9 p.m. (ET).


‘Mixed bag’ summarizes latest lane activity

LAWRENCEVILLE, Ga. - 

Editors turned a phrase for this week’s Black Book Market Insights report, highlighting that “a mixed bag of vehicle valuation strength” summarized the activity in the lanes.

Black Book noticed that some cars and trucks produced a “widening” gap in strength with compact vans and luxury cars generating price gains. But editors also found that several other segments saw “larger-than-normal” depreciation on the week.

“Sales reports from various auto auctions were generally positive as buyers showed interest in clean vehicles from commercial consignors,” said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics.

According to volume-weighted data, Black Book reported overall car segment values decreased by 0.36 percent last week, higher than the average weekly decrease of 0.27 percent in values seen over the previous four weeks.

Editors indicated the compact car, midsize car and full-size car segments declined the most by 0.87 percent, 0.45 percent and 0.37 percent, respectively.

Looking again at that volume-weighted data, Black Book determined overall truck segment values — including pickups, SUVs and vans — softened by 0.23 percent last week, a bit above the average weekly decrease of 0.14 percent in values over the previous four weeks.

Compact van was the best performing truck segment while the full-size luxury crossover/SUV segment declined the most.

Moving over to the anecdotes Black Book’s representatives collected from the lanes, the theme of “mixed bag” continued as activity picked up a bit coming out of Fourth of July.

One busy place was not far from Black Book’s headquarters in Georgia, where the observer shared, “Volume was higher than normal. Dealers were positive about the market even though there were more ‘if’ sales than normal.”

Nearby in North Carolina, a similar scene unfolded as the story went like this: “A good crowd today that came prepared to buy. They sold more than they have been with an average amount of no-sales.”

Meanwhile, the three other lane watchers who reported back to Black Book described softer action.

From Pennsylvania: “Based on the fewer dealers in the lanes, this should have been a poor sale but the online bidders saved the day with their purchases.”

From Michigan: “The market needle didn’t move either way today. It was a smaller consignment so the sale was short with an average sales percentage.”

And finally out West in California: “A below normal sale today even though there were cleaner vehicles in inventory, bringing really strong money.”


KASP Auto Auction names VP of national sales

LEXINGTON, Ky. - 

On Tuesday, KASP Auto Auction announced the appointment of Michele Pierog as its vice president of national sales. An industry veteran with over 15 years of experience, KASP highlighted that Pierog brings a wealth of experience in all facets of the auction business.

Pierog started her career in 2002 with Auto Auction of New England, where she was first hired to run dealer registration. After experiencing great success and fostering leadership potential in that role, she was promoted to the sales and marketing department where she spent more than a decade in various roles ranging from sales support to director of sales and marketing.  

During the latter part of her career, Pierog has served as director of national sales working with both dealer consignment and commercial accounts. She is goal-oriented with a drive to succeed and create value. She became a Certified Automotive Remarketer in 2015 and has been active in several committees including the certification committee with the International Alliance of Automotive Remarketers (IARA).

KASP is the largest independent auto auction in Kentucky and is part of the Auction Management Solutions (AMS) group of independent auctions.

“Pierog brings a vast knowledge of industry operations, innovative solutions, a broad vision toward strategic planning and creative marketing initiatives,” said Brian Williams, general manager of KASP.

“Michele’s commitment to the customer experience is a perfect fit for KASP and we are excited to have her join the team,” Williams continued.  “We are celebrating our 35th year in business, and have spent a lot of time building a great base of dealer consignment business over the years, as well as some fleet /lease and repossession business including the AVIS RAC account and U-Haul, and feel that Michele can really help us expand our footprint with national consignors. We feel that Michele can be a great help to achieve our goals.”

KASP was started back in 1982, and is celebrating its 35th anniversary this year. KASP offers a live weekly sale every Wednesday morning across four auction lanes on more than 40 acres of land. The operation currently offers 350 to 400 units weekly. 

KASP also is a full-service auction with full reconditioning, light mechanical services and in-house transportation.

And now the operation has Pierog as part of its team.

“We are very excited to be working with Michele. Jim and his sons have built a very strong auction in the Southeast, and consignors are looking for strong independent auctions to partner with,” Auction Management Solutions president Tom Stewart said. “One of our goals here at AMS is to focus on providing our customers with the best service we can, while working through a proven sales strategy to help them grow their business.

“Michele will not only be working directly with me, but will also be working closely with Jamye Carpenter and Shelly Frank from our team, continuing to build relationship within the industry,” Stewart added.

For more details, go to .  


3 factors to determine where prices land by end of 2017

McLEAN, Va. - 

J.D. Power Valuation Services might have sounded like the firm formerly known as NADA Used Car Guide was repeating itself when analysts shared both their assessment of used-vehicle price movement in June and their projection for July.

According to the latest edition of Guidelines, J.D. Power Valuation Services reported that wholesale prices of used vehicles up to 8 years old softened by 2.2 percent in June, a dip in line with analysts’ expectations.

And it turns out when looking to what might happen in July, J.D. Power Valuation Service is predicting that wholesale prices for these vehicles will again drop by 2.2 percent, a reading not quite as dramatic as what analysts recorded during that month a year ago.

“At the segment level, mainstream losses are expected to be relatively consistent across the board,” analysts said in the report. “Midsize and large pickups continue to perform very well and are forecast to outperform the industry average.

“Losses for all premium segments are forecast to fall by slightly more than the industry average for the month,” analysts continued.

Looking toward full-year expectations, J.D. Power Valuation Services predicted that used-vehicle prices should decline by about 6 percent, which would be 2 percentage points higher than the final decrease of 4 percent seen for all of 2016.

“Ongoing increase in supply, higher incentives and a normalizing retailing environment — including credit conditions — will ultimately dictate losses,” analysts explained in the report.

J.D. Power Valuation Services arrived at its full-year projection after reviewing June’s movements, which analysts pointed out typically land at about 2.2 percent dating back over the past five years.

The June reading also left the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index unchanged at 111.1. While staying flat on a sequential basis, the June index reading is 7.6 percent lower than what analysts recorded last June (120.2).

Looking closer at the June information, J.D. Power Valuation Services noted that prices decreases for subcompact, compact, midsize and large cars all settled between 3.2 percent and 3.4 percent.

Also of note, the 3.4 percent drop for large cars led the entire car segment and it also was the largest decrease for those kinds of vehicles since June 2001 when analysts noticed a 3.7 percent tumble.

“Most of the large car segment’s makes and models had a fairly average performance in June,” analysts said in the report, while adding that sharp price drops for the Chrysler 300 and Dodge Charger from the 2010 to 2013 model years triggered much of the overall movement, and in particular the 7 percent fall-off for the 2010 Dodge Charger.

Meanwhile, J.D. Power acknowledged the June decreases for subcompacts and compacts were not “outside historical norms” as declines of about 3 percent for these segments have been seen during the past five years.

As far as price declines for the utility segments, analysts classified them as “scattered” in the June report. Midsize utilities averaged a 1.5 percent price softening in June as prices for compact utilities dipping slightly more at 2.2 percent.

Analysts added prices for midsize vans declined less than 1 percent in June.

As far as trucks go, J.D. Power explained these units are “continuing their run of wholes price dominance.” The report indicated prices for large and midsize pickups ticked up by 0.1 percent and 0.2 percent, respectively, in June.

“Over the past five years, pickup prices have performed well compared to the rest of the industry on average,” analysts said in the report. “That stated, prices typically declined slightly during the period.

“While sales were strong across the board in the midsize pickup group, 2015 Chevrolet prices were exceptionally strong and increased by an average of just below 3 percent,” analysts added.

J.D. Power Valuation Services closed its latest price discussion by touching on the luxury side of the market, noting that all premium segments outperformed the overall industry average in June.

Analysts pointed out that luxury midsize utilities did experience their largest price drop so far in 2017 by dropping by an average of 2.1 percent in June. However, the report mentioned that figure was nearly identical to what’s been recorded in June for these units going back five years.

Other segments of note in the luxury categories included June prices for luxury large cars dipping by 1.2 percent and June prices for luxury midsize cars softening by 1.8 percent.


Kontos’ special wholesale data set maintains trend in June

CARMEL, Ind. - 

KAR Auction Services chief economist Tom Kontos continues to be intrigued by the special slice of wholesale data he began to share three months ago that’s produced a consistent trend counter to the overall price reading.

But first, let’s look at that overall movement.

According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale used vehicle prices in June averaged $11,067 — down 0.7 percent compared to May but up 4.7 percent relative to June of last year.

Kontos explained that’s also available at the top of this page that compact and full-size pickup trucks and minivans showed significant average price gains for the month, while most other model classes registered month-over-month declines or modest increases. He reiterated that the year-over-year growth in minivan prices is exaggerated by newer models as discussed in January’s report.

And now to the other data trend garnering Kontos’ attention. Kontos indicated average prices for both of the two “bellwether” car and truck segments were down by about 4 percent year-over-year, reflecting growth in off-lease supply.

Prices for midsize cars that are 3-years-old with mileage reading between 36,000 and 45,000 miles dropped by $515, or 4.3 percent, to $11,474. And prices for midsize CUVs and SUVs at the same age and mileage declined by $809, or 3.9 percent, to $19,723.

“Average wholesale prices in June were down versus May but up on a year-over-year basis,” Kontos said. “However, drilling down into the data once again clearly reveals price softening on a year-over-year basis when accounting for sale type, vehicle age, model class and mileage.”

Kontos went on to mention that average wholesale prices for used vehicles remarketed by manufacturers in June were down 1.0 percent month-over-month and down 1.9 percent year-over-year.

He added that prices for fleet/lease consignors dipped 1.1 percent sequentially and up 3.2 percent annually.

Kontos went on to mention that average prices for dealer consignors ticked up 0.9 percent versus May and up 7.7 percent relative to June of last year.

ADESA Wholesale Used-Vehicle Price Trends
   Average  Price  ($/Unit)  Latest  Month Versus
   June 2017  May 2017  June 2016  Prior Month  Prior Year
           
 Total All Vehicles  $11,067  $11,140  $10,571  -0.7%  4.7%
           
 Total Cars  $8,808  $8,955  $8,562  -1.6%  2.9%
 Compact Car  $6,744  $6,836  $6,465  -1.3%  4.3%
 Midsize Car  $7,781  $7,967  $7,658  -2.3%  1.6%
 Full-size Car  $7,747  $8,395  $7,367  -7.7%  5.2%
 Luxury Car  $13,817  $13,767  $13,078  0.4%  5.6%
 Sporty Car  $14,420  $14,310  $14,274  0.8%  1.0%
           
 Total Trucks  $13,194  $13,247  $12,595  -0.4%  4.8%
 Minivan  $9,243  $9,117  $7,830  1.4%  18.0%
 Full-size Van  $12,859  $13,360  $12,500  -3.8%  2.9%
 Compact SUV/CUV  $10,567  $10,877  $10,882  -2.8%  -2.9%
 Midsize SUV/CUV  $11,702  $11,860  $11,118  -1.3%  5.3%
 Full-size SUV/CUV  $13,995  $14,077  $13,657  -0.6%  2.5%
 Luxury SUV/CUV  $19,186  $19,321  $18,842  -0.7%  1.8%
 Compact Pickup  $9,651  $9,368  $8,718  3.0%  10.7%
 Full-size Pickup  $16,953  $16,778  $15,836  1.0%  7.1%

Source: ADESA Analytical Services. May data revised.


Roundup: instaVIN's upgrade, NAAA's auction safety day

CARMEL, Ind.  - 

instaVIN, a provider of vehicle history and title information, has launched a revamped website, parent company KAR Auction Services announced Wednesday.

Chief executive Jim Irish explained some of the upgrades in a news release.

“At instaVIN, we are focused on simplifying vehicle history research for our customers and providing them with the most detailed and up-to-date data possible,” Irish said. “Our newly enhanced vehicle history reports are easier to understand and include cautions and warning indicators for various events.

“New functionality and responsive design allow customers to request and view free VIN checks and buy reports on computer, tablet or any mobile device on any browser platform,” he said.

Included on the new website is an interface designed to help customers create accounts and order vehicle history and title reports more easily.

Customers also can access a streamlined report dashboard with additional functions; dealers and commercial customers can now order reports on as many as 100 VINs at a time. New filter settings let customers order condescend reports. Through new HTML functions, users can embed links from web ads.

Additionally, for an additional charge, customers can choose to add an original factory window sticker with build data to their car history reports.

NAAA Safety Day

In other news from KAR, the company is hosting the National Auto Auction Association Safety Day at its ADESA Boston location on July 25.

At the event, NAAA-member auction leaders will gather to discuss response to safety risks. KAR and ADESA Boston leaders will also be demonstrating their safety protocols. The day will also include a tour of ADESA Boston’s design elements aiming to promote safety.

“The safety of our employees and our customers has always been a top priority at KAR—and my own personal mission,” KAR chairman and CEO Jim Hallett said in a news release.

“After recent events, several independent auctions reached out to us looking for additional best practices on auction safety,” he said. “We are proud to team with NAAA in uniting our industry and working together to develop innovative, collaborative new approaches to safety.”

All NAAA-member auctions are allowed to attend. However, space is limited to 75 registrants.

Additionally, there will be presentations on OSHA’s course regarding industrial workplace safety as well as NAAA’s own safety certification program.

The agenda will also feature presentations on OSHA’s 10-hour course to improve industrial workplace safety and NAAA’s safety certification program.

“It is NAAA’s goal to help make every auction, in every location, as safe as possible,” NAAA CEO Frank Hackett said in the release. “We are very pleased with the level of interest and engagement around this event and the willingness of our membership to rally around this important issue.”

More information can be


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