ACV has chosen a new tech leader for its digital automotive marketplace and data services platform. Bahman Koohestani, with over 25 years of leadership experience across a wide range of industries, including technology and data analytics, is the company's new chief technology officer.  ACV explained the new CTO will be responsible for leading the company's continued […] [Read More]

The National Auto Auction Association has postponed its annual convention, which had been set for Sept. 28-30 in Chicago. In an alert sent to members, NAAA said: “The Executive Committee of the NAAA remains steadfast in delivering best in class content and experience to our members, associate members, partners, sponsors and friends.  “Based upon broad […] [Read More]

The XLerate Group continues to make big moves this summer. A week after announcing new majority ownership and less than two months after buying Liquid Motors, the company has expanded its reach into Louisiana. XLerate said Thursday it has purchased Greater Shreveport-Bossier Auto Auction. With this acquisition, which is the group’s 10th, XLerate now has […] [Read More]

Cox Automotive experts tried to put some seasonal context when explaining the latest movements of the Manheim Used Vehicle Value Index and other parts of the wholesale market. [Read More]

During the week that closed during the middle of the Labor Day weekend holiday, Black Book noticed that 15 of the 22 vehicle segments that analysts track generated gains in wholesale values. And with two regions trying to rebound from Hurricane Ida, Black Book doesn’t see prices making a major decline anytime soon. [Read More]

So much for an extended reprieve from soaring wholesale prices. Black Book reported on Tuesday that its Used Vehicle Retention Index for August nearly hit a new record for the second time in the past three months. [Read More]

CarLotz will be continuing growth in the Southeast with its first hub opening in Mobile, Ala., later this year. The hub will be located at 3016 Government Blvd. in Mobile.  The company said that its entry into Alabama, as well as its multiple locations in Florida, are a "significant step" toward making its goal of creating the […] [Read More]

Hurricane Ida roared in from the Gulf of Mexico on Sunday and in the following days caused damage from torrential rain and wind from New Orleans to New York City. Fortunately for the auctions within the storm’s path operated by ADESA and Manheim, no significant problems have been sustained at their operations. Auto Remarketing received […] [Read More]

It’s been a busy week at IAA. Within days of announcing moves in New York and Maryland, IAA highlighted growth activities in Colorado and South Carolina on Thursday. First, the company announced the opening of a news branch in Colorado Springs, bringing the total number of IAA locations in Colorado to four. IAA explained the […] [Read More]

XLerate Group will have a new majority owner. Private equity firm Brightstar Capital Partners announced Thursday it has entered a definitive agreement to acquire a majority stake in the auto auction and remarketing facilitation company. Current owner Huron Capital and XLerate’s senior management team will retain minority equity stakes. Terms of the transaction were not disclosed. […] [Read More]