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Black Book Sees Wholesale Prices Rise Again

Wednesday, 06 December 2017 01:05
Black Book released its Used Vehicle Retention Index for November, reporting an increase to 115 from 114.6, its third straight monthly increase dating back to August when it was at 112.6. The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.  The Index has increased in five months during 2017, with a sixth month unchanged (June – July). Nine segments saw increases in the Index during November: compact crossover/SUV, full-size car, full-size pickups, full-size vans, luxury cars, mid-size crossover/SUV, mid-size luxury crossover/SUV, prestige luxury cars, and small pickups.

DAA Northwest Marks Fundraising Milestone

Friday, 01 December 2017 14:02
DAA Northwest began its annual anniversary sale fundraiser 25 years ago when a local non-profit organization approached the auction and asked for help. At the time, the request was for DAA’s employees to make payroll deductions that would benefit the non-profit organization.Every November since then, the auction has hosted a dinner party and benefit auction in conjunction with its Anniversary Sale. This year’s event marked DAA Northwest’s 25th Anniversary and produced record-breaking contributions. Dealers purchased live auction items that included Gonzaga Bulldogs pre-game practice session attendance and courtside seats hosted by DAA’s general manager David Pendergraft, an evening with The Cronkites, DAA’s “house band,” and more. Guests also purchased 25th Anniversary caps, with 100 percent of proceeds going to charity. Contribution envelopes on tables gave attendees another opportunity to give. DAA Northwest matched all funds raised, bringing the 25th Anniversary Fundraiser total to a record-breaking $170,000. Beneficiaries included Young Life, Union Gospel Mission, the Vanessa Behan Crisis Nursery and Spring of Hope International. Since its inception, DAA Northwest’s Anniversary event has raised $1.7 million for non-profit organizations.

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Carolina Auction Honors Founder with Charity Work

Friday, 01 December 2017 14:02
Carolina Auto Auction made a major fundraising push in November in honor of Henry Stanley.Earlier in the month, auction leaders from around the country held a charity auction with some impressive items including a Charlie Daniels autographed fiddle, a week-long trip to Key Largo, a trip for two to the 2018 Kentucky Derby and more.  The benefit, led by ServNet Chairman of the Board Kevin Brown, raised just over $40,000 toward melanoma research at the Winship Cancer Institute of Emory University – the charity that Henry Stanley and Carolina Auto Auction raise money for at their annual golf tournament.   In addition, Carolina Auto Auction hosted its own charity fundraiser in November.  The Beards for Bucks campaign was one where a handful of men at the auction joined the larger No-Shave November movement to also raise money for the Winship Cancer Institute.  Over four weeks, the auction raised $10,000, bringing the total donation for Winship to $50,000.  The female employees at CAA are now hosting an Ugliest Christmas Attire contest.

Manheim Invests in Recon

Friday, 01 December 2017 14:02
Manheim has invested $17 million for reconditioning to build new facilities, enhance existing ones and develop proprietary technology. Recent investments include $9 million in on-location operations; including building out new facilities at three locations and enhancing others with new lifts, paint booths, imaging booths and more. Manheim now has retail reconditioning locations across Florida, Illinois, Missouri, Michigan, Georgia, Texas, Colorado, California, Washington, D.C., and South Carolina, with additional sites planned based on client demand.  The balance of the $17 million investment was put into the proprietary Retail Reconditioning technology platform, developed with Xtime. This offers process transparency and empowers dealers to manage the flow of vehicles. Through the platform, dealers get real-time updates on their inventory, approve or deny work, track costs and invoicing and manage transportation.