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]

IAA announced a trio of big East Coast moves on Tuesday. The company broke ground on IAA Elkton, which will be its fifth Maryland branch, as well as IAA Monticello, which will be its seventh New York location and support the Hudson Valley market. IAA also is expanding in the Long Island, N.Y., area. “As […] [Read More]

Signs of autumn are abound, what with college football kicking off and pumpkin-flavored beverages now appearing in coffee shops and grocery stores.  But it's still August, still summer and still ridiculously hot. You might say the same about the wholesale vehicle market.  Used-vehicle prices have now declined sequentially for two straight months, but they’re … [Read More]

Akron Auto Auction has an award-winning auctioneer team — literally. As highlighted in the latest ServNet newsletter, Laura Mantle-Grunden, an auctioneer from Columbus Ohio, took first place and was declared the 2021 champion during the International Auctioneers Championship (IAC). The competition took place in July during the 72nd National Auctioneers Association Conference held in Minneapolis. […] [Read More]

One of the previous honorees included in Auto Remarketing’s annual Remarketing & Used-Car Industry’s 40 Under 40 listing is continuing to forge a successful career in the wholesale space. On Wednesday, XLerate Group Auctions announced the promotion of Kelly McAllister to vice president of digital strategy and sales. “Digital buying and selling are having us […] [Read More]

Black Book analysts elaborated about subcompact cars and full-size pickups as part of their latest installment of Market Insights released on Tuesday. The commentary came as Black Book is seeing the overall decrease in wholesale prices starting to decelerate, as values made a 0.36% decline during the week that ended Saturday. [Read More]

When another month starts next week, IAA will have a new executive vice president and chief financial officer. IAA announced on Tuesday that Susan Healy will join the company on Sept. 1 to serve in those roles. According to a news release, Healy will succeed Vance Johnston, who is leaving IAA to pursue other opportunities. […] [Read More]

CarLotz said Monday it has opened a hub in the St. Louis area, its third location in the Midwest. It is located at 1807 W Highway 50 in Fairview Heights, Ill. CarLotz’s other two Midwest locations are located in the Chicago area. CarLotz provides omnichannel services in California, Colorado, Florida, Illinois, Missouri, North Carolina, Tennessee, […] [Read More]

KAR Global has made yet another big move in the online dealer-to-dealer space. The company said Monday it has reached a deal to acquire CARWAVE Holdings for $450 million. The California-based dealer-to-dealer online wholesale marketplace was founded in 2009, and its network of dealer customers includes stores in Arizona, California, Nevada, Oregon and Texas.  The platform […] [Read More]

With the International Automotive Remarketers Alliance Summer Roundtable fast approaching, I am personally eager to reconnect with those in the remarketing industry after more than a year of virtual meetings. This industry is built on relationships, and it is more important now than ever before that we take time to invest in those relationships and focus […] [Read More]