Nick Zulovich, Staff Writer

Cox Automotive chief economist Jonathan Smoke on Friday estimated vehicle losses caused by Hurricane Harvey to come in between $2.7 billion and $4.9 billion in the Houston market alone. While that projected figure includes dealerships’ used-vehicle inventory since those units are classified as vehicles in... Read More

Nick Zulovich, Staff Writer

As auctions in the region continue to modify their businesses in the wake of Hurricane Harvey, Black Book shared an estimation on Thursday morning that 500,000 to 1 million damaged vehicles will have to be replaced in the city of Houston and surrounding regions. The National Weather Service said on Wednesday that the... Read More

AuSM Staff

Both portions of the RVI Group’s latest analysis of wholesale prices showed an upturn from June to July but softening versus year-ago figures. The RVI Used Vehicle Price Index (Real) increased from June to July by 0.9 percent. However, when compared to July of 2016, prices were down by 3.8 percent. The... Read More

Hertz names new CMO, chief HR officer

AuSM Staff

Hertz Global Holdings is bringing aboard a new chief marketing officer and a new chief human resources officer. Hertz said Wednesday that Jodi Allen will join the company as executive vice president and CMO on Oct. 2; Murali Kuppuswamy becomes executive vice president and chief human resources officer on Sept.... Read More

AuSM Staff

Along with the perspective of an auction owner from the West Coast, the latest Black Book Market Insights report took a look at comparing the weekly retention strength of cars and trucks dating back to the beginning of the year. Editors found that cars have started to see larger depreciation since late spring after a... Read More

AuSM Staff

Two ServNet member auctions have implemented the Deal Shield buyback guarantee assurance product from Cox Automotive, and two more are set to utilize the program, as well. That’s according to a news release from ServNet, which said BSC America’s Bel Air Auto Auction and Tallahassee Auto Auction have already... Read More

AuSM Staff

ADESA announced Thursday that its Kansas City auction recently raised a total of $50,457 for a local children’s hospital. The auction held a special sale and live charity auction event named  “Cars-n-Kids” for Children’s Mercy Kansas City. In addition to donating $150 for every... Read More

AuSM Staff

BSC America Auction Group said Thursday that its new facilities for the Bel Air Auto Auction in Belcamp, Md., will welcome customers in September following several years of planning and 24 months of construction. Bel Air’s new 185-acre location will also house BSC America’s corporate... Read More

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