Charleston AA Named 2011 National Auction of The Year by MarkOne

MarkOne Financial named American Auto Auction Group member Charleston Auto Auction as its 2011 National Auction of the Year.

Last Friday, MarkOne Financial named American Auto Auction Group member Charleston Auto Auction as its 2011 National Auction of the Year, marking the third consecutive year the South Carolina operation has received this designation.

Officials indicated Charleston AA was one of more than 20 auctions that were evaluated for this recognition. They explained benchmarking criteria includes timeliness of pickup and auction administration processes, but weighing more heavily than any other area is overall retention.

Keeping costs at a minimum, while maximizing gross sale price, is paramount toward overall auction performance, according to MarkOne

“Charleston Auto Auction has consistently out-performed our expectations with regards to service and overall success. They are consistently the best performing auction in our network and have demonstrated integrity in reconditioning recommendations, as well as sale day administration,” MarkOne remarketing manager Jason Ghioto stated.

MarkOne Financial is an indirect lender based in Jacksonville, Fla., and originates with a network of franchised and independent dealers through its field sales team.

MarkOne and sister company Centrus Auto Finance now originate contracts in Florida, North Carolina, South Carolina, Georgia, Alabama, Tennessee, Virginia, Maryland,  Pennsylvania, Indiana, Ohio, Texas, Colorado, New Mexico and Oklahoma.

MarkOne is a division of MarkOne Holdings.

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TWI 'On the Go' Brings Training to Dealers at Auctions

Auto Remarketing | TWI 'On the Go' Brings Training to Dealers at Auctions

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February 13, 2012 | ATLANTA By Auto Remarketing Staff Mandy Savage, The Wholesale Institute

Manheim has rolled out an extension of The Wholesale Institute that is designed to save dealers time by bringing training sessions on the company’s digital tools to the sale days at various Manheim auctions.

In other words, TWI “On the Go” aims to connect with dealers when they’re already at a Manheim auction buying or selling cars, explained TWI director Mandy Savage.

“Manheim has been dedicated to dealer training for many years, and The Wholesale Institute has served more than 5,000 customers since 2007 through our various offerings,” Savage noted.

“We realize that not all dealers can take extra time away from their businesses to attend training classes so TWI ‘On the Go’ sessions make it easier for more customers to get the digital information and training they need when it is very convenient for them – while they are at the auction,” she added.

The On the Go workshops will allow dealers to have hands-on demonstrations of various digital devices from Manheim. TWI brings mobile devices and tablets to the training sessions, which focus on such Manheim digital tools as Mobile, myAccount and the Manheim app. Dealers are shown how to use their own mobile products to download and utilize these Manheim tools.

The TWI team shares best practices and tips for Manheim’s digital offerings, while also answering questions dealers may have.

Sharing the dealer perspective, Sal Ali, of GT Sport Auto, recently participated in an "On the Go" session at Manheim Atlanta and had this to say: “I found the Manheim app to be very helpful. Normally I make one or two purchases during a sale, but with the Manheim app, I was able to get the information I needed more quickly so I ended up with three cars.”

"On the Go" workshops will be offered at these locations:

Wednesday: Manheim Nashville
Feb. 20: Manheim North Carolina
Feb. 28: Manheim Pensacola
March 1: Manheim Chicago
March 6: Manheim Northstar Minnesota
March 8: Manheim Fredericksburg
March 14: Manheim New Jersey

“TWI ‘On the Go’ is an interactive experience with lots of ‘aha’ moments where dealers gain a better understanding of how to buy vehicles more efficiently and leverage Manheim’s online resources toward maximizing profits,” said Savage. “We empower our customers with the digital knowledge they need to accomplish their business goals.”
 

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Manheim’s November Index Rises After Five Months of Declines

Auto Remarketing | Manheim’s November Index Rises After Five Months of Declines

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December 8, 2011 | ATLANTA By Auto Remarketing Staff Tom Webb, Manheim

Dealers hoping wholesale prices would continue to soften as this year came to a close might be disappointed with the latest Manheim Used Vehicle Value Index.

After five consecutive monthly declines from its peak reading in May, November’s index reading rose 0.8 percent to 123.8. However, Manheim pointed out Wednesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) are down 0.4 percent on a year-over-year basis.

“Prolonged pricing strength in the wholesale market has been the result of sustained improvements in retail vehicle markets (both new and used) and reduced wholesale supplies,” Manheim chief economist Tom Webb explained.

“With signs of improvement in the broader economic picture, retail vehicle markets will likely produce an even bigger appetite for available auction inventory,” Webb projected.

Dealers might remember the May level came in at 127.8 — the highest point it has ever been since Manheim started the index back in 1995.

As Manheim mentioned, November’s overall wholesale prices were 0.4 percent lower than a year earlier. The price decline by three segments proved to be more than the price increase by three other vehicle types.

Leading the November decliners were SUVs and CUVs, which Manheim said were down 4.6 percent. Luxury cars (down 1.3 percent) and pickups (down 0.3 percent) also ticked slightly lower year-over-year.

Manheim determined compact cars led the price surge, gaining 5.0 percent from last November. Midsize cars came in right behind with a 4.6-percent increase. Vans also posted a 1.2-percent increase last month, according to Manheim’s analysis.

“Over the periods of the past three months and of the past six months, pickups and minivans have been the strongest segments,” Webb surmised.

“Compact cars are up the most year-over-year, but have weakened in the back half of this year,” he continued.

“On a mileage- and seasonally adjusted basis, however, compact car prices showed an uptick in November,” Webb went on to say. “Data sources that look only at straight averages might not pick up on this fact since, in November, the average mileage of a compact car sold at auction reached a record high.”

Continued Strong Prices at Auction for Off-Rental Units

As was the case in October, Webb noted rental risk volumes rose significantly in November without any deteriorating impact on pricing, which held steady.

He added average miles on auction-sold vehicles also remained steady with previous months.

Commercial Fleet Prices Rebound

Manheim indicated pricing for end-of-service midsize fleet cars recovered in November after a fairly weak October.

Webb also noticed cargo vans and pickups also showed strong pricing.

“As is always the case in the commercial fleet segment, however, residual performance was very much make- and model-specific,” Webb emphasized.

“Some end-of-service models have a more than ample supply available in an overall market that is short of inventory,” he continued. “Naturally, the residual performance of those models suffered.”

Used-Vehicle Sales Discussion

As usual, Webb used his index commentary to touch on retail sales, first from the used-vehicle perspective.

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Cincinnati Independent Auction Moves into New Facility, Broadens Repo Sales

Auto Remarketing | Cincinnati Independent Auction Moves into New Facility, Broadens Repo Sales

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December 9, 2011 | CINCINNATI By Auto Remarketing Staff

A Cincinnati independent auction recently moved into expanded and updated facilities and revealed plans to ramp up its bimonthly repo sale.

OKI Auto Auction relocated to a 10-acre lot, once part of the former Jim Beam Distillery off Interstate 75 at 120 Citycentre Drive. OKI leased temporary space for more than a year at the Hamilton County Fairgrounds across the street, according to a report posted by Cincinnati.com.

The story indicated OKI spent more than $2 million on the site, which includes a three-lane auction building and paved parking for vehicles. Northside Bank & Trust and the U.S. Small Business Administration provided financing.

Started by company president Lee Schoenling in 2000, OKI is now jointly owned with retired dealer Tom Moser. It has grown from seven to 70 full- and part-time workers.

Along with bi-monthly dealer consignment, the new facility is helping OKI boost its repossessed unit offering, too.

Repo sales now will be held on the first and third Wednesdays of each month at 10 a.m., before dealer-only sales.

The Cincinnati.com report indicated OKI projects to have 15,000 units go down its lanes this year.

The original online story can be found here.

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