Vehicle Pioneer Dead at 96

(RepublicanDaily.org) – Eugene “Gene” McDonald, the vehicle sales and valuation pioneer who co-founded Black Book, or the National Auto Research (NAR), has passed away at the age of 96.

Way before the age of computers, McDonald developed a way for buyers to have an idea of how theirs and other cars were valued, through the “black book” – or more formally called the “Black Book New Car Invoice Guide” – that customers could fit in their pocket. McDonald developed the concept in 1955, and the guide became an indispensable tool for Americans who wanted to participate in the retail vehicle market. The guide initially contained wholesale auction values for a plethora of popular vehicles, which quickly grew to include the prices of new cars, and so on, becoming a trusted and effective source of information for its users.

The company is now owned by Hearst, who in turn bought it from Cox Broadcasting in 1980. McDonald sold Black Book to Cox in 1965, and moved to become part of Cox’s board of directors and was instrumental in helping Cox break into the auto auction market.

But Black Book has grown exponentially since its inception, and is now a firm that specializes in providing users with “vehicle valuation data and analytics”. Most of its users are lenders, car dealerships and sales people, manufacturers, auctions, and insurance companies. Black Book enables its users to see updated information and pricing on used cars and motorcycles, as well as light trucks. The data also extends to recreational and luxury vehicles like ATVs, personal watercraft, as well as to commercial and industrial vehicles such as heavy-duty commercial trailers and trucks. The data is extensive, covering the entire lifespan of a vehicle, and provides information on almost any transaction in the auto industry.

McDonald was inducted into the National Auto Auction Association Hall of Fame in 1985, and in 1994, was awarded with the National Independent Automobile Dealers Association’s Ring of Honor for his pioneering work in the auto sales, auction, and retail industry.