KAR Global said Thursday it has completed its $450 million all-cash purchase of CARWAVE. The purchase of the online wholesale platform, initially announced in August, adds to the company’s “fast growth in the dealer-to-dealer segment, accelerates profitability, positions the company to achieve its long-term goals and enhances the company’s differentiated combination of digital marketplaces and […] [Read More]

Especially when manufacturing capacity increases to make more new models available, Merchants Fleet now has more financial resources to take advantage of the opportunity. On Wednesday, the fleet management company announced a major expansion of its core member funding group to include some of the top banks in the world, enabling the Merchants Fleet to […] [Read More]

Black Widow, an automated imaging company in the automotive industry, announced a new chief operating officer Tuesday. Hired for the position is Darren Kemper, who was most recently the director of business analytics at ADESA. Kemper has more than 20 years of IT software engineering and organizational experience. He will take on the day-to-day operations […] [Read More]

Your family might be all about pumpkin spice to give your home that fall feel, but the wholesale landscape currently conveys a springtime vibe. [Read More]

CarLotz is doubling down in the Lone Star State. The consignment-to-retail used-car marketplace announced Monday that it has opened a hub in Plano, Texas, its second location in the state. This new hub, located in the Dallas-Fort Worth Metroplex, complements its sister location in San Antonio. “Through our #LotzOfLove initiative and the non-profit Dogs Matter, […] [Read More]

vAuto now has a new offering within vAuto Provision, a suite of tools that can help dealers adopt a more transparent and turn-focused approach to used-vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. That new feature is Wholesale Hub.  Here's how it works: Wholesale Hub  is the "new way to wholesale inventory from within […] [Read More]

Shortly after Manheim began putting some real muscle behind its electric vehicle infrastructure plan some two years ago, the COVID-19 pandemic threw a major roadblock across multiple lanes of the auto industry. It was a stoppage that would almost certainly clog automaker investment in EVs — or so the auction company thought. “One of the […] [Read More]

Perhaps Black Book should write down wholesale records in chalk or pencil; something that can be easily erased and updated. Analysts said the Black Book Used Vehicle Retention Index set a new record, as the September reading came in at 169.5 points, representing an increase of 3.8 points or 2.3% from August. [Read More]

Former Ford Motor Co. president and chief executive officer Mark Fields is now the interim CEO at Hertz. Paul Stone, previously the CEO, is now the president and chief operations officer for the rental-car company. In Tuesday’s news release, Hertz said the leadership change is “part of a vision for an all-new Hertz that combines […] [Read More]

The particular vehicle that delivered an online order to your home or brought the air conditioning or plumbing repair crew represents the hottest segment of a wholesale market that’s continue to sizzle. Black Book reported on Tuesday that overall wholesale prices continued to increase for a fifth consecutive week. [Read More]