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Spireon Contributes to NIADA Hurricane Relief

Wednesday, 11 October 2017 21:29

Spireon Inc. will contribute $100,000 to the NIADA Foundation's Disaster Relief Fund to assist members of the automotive community in their recovery from the devastating effects of hurricanes Harvey and Irma.
Spireon, a longtime NIADA partner, said it selected the NIADA Foundation Disaster Relief Fund for its commitment to directly contribute to its customers and the communities they serve because it was the quickest way to help in the recovery.
In addition, Spireon will use its NSpire platform to provide the data its customers need to help get their businesses up and running, creating reports to help identify assets potentially at risk from the storms and assist dealers in assessing the next steps for their business.

XLerate Group Hires COO

Tuesday, 10 October 2017 19:31

The XLerate Group announced that Pat Stevens has joined the company as chief operating officer.
Stevens began his auction career with ADT Automotive in 1994 as a fleet manager.  He joined ADESA in 2000 as general manager of ADESA Dallas.  At ADESA, he was promoted to regional vice president, West, then executive vice president, West.  
He has served the industry at both the regional and national levels of the National Auto Auction Association (NAAA), acting as NAAA Western Zone President and as a member of the Auction Standards Committee.  
Stevens graduated from Texas A&M University.

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Midwest Chapter Wins NAAA PAC Cup

Monday, 09 October 2017 20:22

The Midwest Chapter of the National Auto Auction Association has won the NAAA Political Action Committee PAC Cup Challenge for the first time after contributing $10,000.
The PAC Cup will be awarded to the Midwest Chapter Board of Directors during the NAAA/NRC Convention in La Quinta, Calif.
Five years ago, the National Auto Auction Association created its own political action committee (NAAAPAC). The PAC Cup Challenge is designed to spur fundraising efforts. The name of that regional chapter will be engraved on a large trophy to honor the members’ efforts.
This year more than $30,000 was raised nationally.

Wholesale Prices Reach New High

Monday, 09 October 2017 00:44

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 2.77 percent month-over-month in September.
This brought the Manheim Used Vehicle Value Index to 134.9, which was a record high for the fifth consecutive month and a 6.3 percent increase from a year ago.
On a year-over-year basis, all major market segments saw gains, including midsize cars. Luxury cars, pickups, and vans outperformed the overall market.
The average price for rental risk units sold at auction in September was up 4 percent year-over-year. Rental risk prices were up 2 percent compared to August. Average mileage for rental risk units in September (at 42,200 miles) was 6 percent above a year ago.