XLerate Group said last week that it has completed its purchase of America’s Auto Auction, wrapping up a deal reported first by Auto Remarketing on Dec. 22. The companies did not disclose the transaction’s terms. The combined company includes 39 auction locations in 19 states, digital and mobile auction businesses and related financing operations. XLerate has […] [Read More]

Former ADESA president and chief executive officer Tom Caruso passed away on Tuesday, the auction chain’s parent company KAR Global said in a statement Thursday. Caruso, who retired in March 2020, spent 40 years in the remarketing business, including time as ADESA’s president and CEO, its chief operating officer and its executive vice president, among […] [Read More]

XLerate Group said Wednesday it has entered a definitive agreement to buy America’s Auto Auction; a deal that will create a supergroup of more than three dozen auto auctions. The companies did not disclose terms of the deal. The purchase is arguably one of the most significant in the recent history of the auto auction business. Granted, […] [Read More]

KAR Global announced leadership changes at eight ADESA locations on Thursday. New general managers now are in place at operations throughout the U.S., including: — Michele Arguijo at ADESA Austin — Amy Coley at ADESA Washington, D.C. — Sheldon Jones at ADESA Little Rock — Derek Kline at ADESA PA — Sean O’Connell at ADESA […] [Read More]

Dent Wizard International has added another role for chief operating officer Addison Thomas: company president. Thomas, who will remain COO, will take on that role effective Jan. 1. He has been COO since 2018, and previously served as vice president of operations and regional vice president for the West. “I continue to be humbled, honored […] [Read More]

Well, perhaps you can call it a gift for used-car managers. At least wholesale values aren’t rising as much now as they did earlier this year. That’s the gist of the latest Market Insights from Black Book, which described the auction scene as dealers get ready for what some stores call the “13th month.” [Read More]

After being with Black Book for the past nine years, Jared Kalfus now is president of the company that provides vehicle pricing, data and analytics. Black Book made the announcement on Tuesday, elevating Kalfus to be president of the company, which includes Canadian Black Book, effective immediately. The announcement was made through a news release […] [Read More]

It may feel like everything you buy these days is 40% more expensive than it was a year ago.  With used vehicles, that’s actually the case if you’re a car dealer.  Similar to other industry indices, the J.D. Power Valuation Services Used Vehicle Price Index reached an all-time high in November.  The index, seasonally adjusted, […] [Read More]

The National Auto Auction Association is taking what has traditionally been its Spring Business Meeting and moving it to NADA Show 2022. The meeting — which has been renamed Total Access — will be held March 10-13 in Las Vegas during the NADA convention, NAAA said in an emailed message to its members on Wednesday. […] [Read More]

Another day, another wholesale vehicle value index reaches a third-straight record high. Same as the Black Book Used Vehicle Retention Index's record streak reported Monday, Cox Automotive said Tuesday that its Manheim Used Vehicle Value Index has now reached record highs for three straight months. [Read More]