Dealers Auto Auction of Oklahoma City has named a new general manager to replace longtime GM Bruce Beam. Hired for the position was former XLerate Group chief operating officer Pat Stevens, whose experience also includes time with Manheim and ADESA. Stevens started his auto auction industry career in 1993 at Manheim Dallas, where was fleet […] [Read More]

CarLotz is launching a second hub in California, this time setting up shop in the nation’s second-largest metropolitan area. The consignment-to-retail used-car marketplace is opening a hub Monday in Pomona, Calif., that will serve Greater Los Angeles. This will complement the existing CarLotz hub in Bakersfield, which opened in June. Plans for the LA-area hub […] [Read More]

Obviously, vehicles cannot be transported to and from auctions and dealerships without someone to load them and drive the hauler to the intended destinations. United Road is boosting its efforts to ensure that key person is readily available to meet vehicle transportation demands. This week, United Road president and chief executive officer Mark Anderson announced […] [Read More]

IAA reinforced its European resources on Friday via an acquisition. According to a news release, IAA — the presenting sponsor of Auto Remarketing’s 40 Under 40 honorees who will be recognized during Used Car Week — announced it has signed an agreement to acquire the stock of SYNETIQ, a leading integrated salvage and vehicle dismantling […] [Read More]

In another big move by the rental car giant this month, Hertz named a chief information officer on Thursday. Hired as executive vice president and CIO is Tim Langley-Hawthorne, whose most recent post was as CIO of Hitachi Vantara, a subsidiary of Hitachi Ltd. Langley-Hawthorne was with Western Union prior to Hitachi, serving in several […] [Read More]

Halloween is less than two weeks away, and dealers might be thinking they’re getting tricked since it doesn’t appear to be much of a treat for them in the lanes this fall. Black Book described the unusual pricing landscape that’s continues to be seen in the wholesale market, as overall values rose for the seventh week […] [Read More]

KAR Global said Monday that Black Book’s VIN decoding and pricing algorithms have been integrated with KAR’s digital offerings. This means that automakers, dealers and others in the auto industry will be able to provide consumers with instant, VIN-specific guaranteed trade-in values on their respective websites or mobile apps. The expanded relationship between KAR and Black […] [Read More]

Now being led by an interim chief executive officer, Hertz is setting its sights on being in a better position for shareholders. Hertz announced on Monday that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed public offering of its common stock. Hertz’s […] [Read More]

J.D. Power Valuation Services — the presenting sponsor of Pre-Owned Con at Used Car Week — offered its latest assessments of wholesale prices and volume through its latest installment of Guidelines. For consignors with vehicles to send to auction, the trends continue to be favorable. For dealers needing inventory to keep their blacktops from looking […] [Read More]

When someone doesn’t pour beer correctly, a lot of “froth” could form, limiting how much of the cold beverage ends up in your glass. ALG used “froth” as part of their imagery to summarize its updated residual value forecast after going through the four ingredients analysts used to form it. [Read More]