A telling sign for the used-car supply shortage is evident in the latest Wholesale Market Update from J.D. Power Valuation Services. There were 3.91 million vehicles (up to 8 years old) sold at auction last year, which was down 13% year-over-year. “However, when compared with pre-pandemic levels, auction sales trended 25%-30% lower during the course […] [Read More]

KAR Global chief economist Tom Kontos looked at both November and December pricing trends for his latest installment of the Kontos Kommentary. After seeing the wholesale data, dealers again might be yearning for the days before the pandemic sent prices soaring like a fever. [Read More]

We start this Auction News Roundup in South Carolina, where Angela Yarborough has returned to Rawls Auto Auction as executive sales and marketing manager. She rejoins the company from America’s Auto Auction, where she was the assistant general manager at its Houston location. Starting as a block clerk in 1989, Yarborough spent nearly three decades […] [Read More]

An industry with as many moving parts (literally) as the auto auction industy requires a wide array of talent to complete the myriad tasks associated with sale day and beyond: drivers on sale day, accountants, sales representatives, office managers, tow-truck operators, technicians, parts supervisors, reconditioning specialists, customer service managers and much more. So as part of […] [Read More]

On Wednesday, Dent Wizard International announced of executive promotions that were effective Jan. 1. One of the largest vehicle reconditioning service providers in North America, Dent Wizard elevated Carl Lekebusch to be senior vice president, as well as Dan Bowers to regional vice president for Florida and Tim Forloine II to regional vice president for […] [Read More]

Black Book isn’t ready to declare that softening of wholesale prices is making a significant return just because the opening week of 2022 showed some easing on the value front. That’s the leading theme of Black Book’s latest installment of Market Insights released on Tuesday. [Read More]

An acquisition announcement in the fleet space literally on a global scale came to light on Thursday. ALD Automotive said it signed of a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital. According to a news release, the proposed acquisition of LeasePlan is for a total consideration of […] [Read More]

Two firms in the transportation industry started the new year by working together. On Tuesday, Ship.Cars, a leading automotive transport technology company, announced a partnership with CarrierSoft, an automotive transport software provider. According to a news release, CarrierSoft has integrated its Broker TMS platform, MegaBee, with Ship.Cars’s Market, enabling brokers to post loads directly from […] [Read More]

Used-car managers might agree with the description Black Book gave the 2021 wholesale market, calling it a “wild ride” in the first installment of Market Insights for the new year released on Tuesday. [Read More]

The final reading of the Black Book Used Vehicle Retention Index put an exclamation point on just how unique 2021 was when it comes to wholesale prices. Black Book revealed the December index reading on Tuesday, saying it increased another 5.8 points (or 3.1%) from November to land at 195.7. Analysts determined that rise left […] [Read More]