Acquiring America’s Auto Auction — and merging that business’ 23 auction sites with XLerate Group — just makes good business sense, according to Cam Hitchcock, chief executive officer of America’s Group. The newly consolidated company, which has rebadged its 16 XLerate auction sites with the America’s Auto Auction name, has a broader footprint and an experienced […] [Read More]

Mergers and acquisitions now have involved one of the notable operations associated with collectable cars. On Thursday, IMG, an Endeavor company and a global leader in events, media, sports and fashion, announced that it has acquired a majority stake in Barrett-Jackson, one of the premier collector car auction and live events companies. The companies said […] [Read More]

Black Book chief data science officer Alex Yurchenko previously predicted, “We expect the wholesale prices to accelerate their declines in August as consumers are staying away from large purchases.” Black Book’s newest weekly data reinforced Yurchenko’s expectations, since wholesale values dropped another … [Read More]

Next week, the National Auto Auction Association will to celebrate the annual Auto Auction Week, which is designed to raise awareness of the wholesale auto industry and importance and to pay thanks to team members and customers. “NAAA is proud of the resilience and hard work of our members and customers that have kept the […] [Read More]

The first half of the year was a busy one for Auction Academy’s largest class in the 10-year history of the training program. Auction Academy officials recently highlighted Class Group 7 includes 30 students from 17 states, representing a variety of disciples within the automotive industry, including auction operations, floorplan and finance, technology and remarketing. […] [Read More]

Compared to previous years, wholesale vehicle values remained unusually high in July. But it’s what’s happening with consumer confidence — which continues at “historic lows” — and the impact to used-car demand that … [Read More]

National Auto Auction Association chief executive officer Tricia Heon, 2021 NAAA president Charles Nichols and 2022 NAAA president Garrison Hudkins join the show to talk about the upcoming National Auto Auction Week and the annual NAAA Convention. They share a sneak peek at the convention's agenda, including a look at the show's country concert and […] [Read More]

The wholesale value feast consignors have been enjoying for some time might finally be finishing. Black Book spotted a wholesale price decline last week not seen in a year, as analysts said that overall values softened by 0.86%. That’s nearly double the [Read More]

In this edition of Auciton News Roundup, we spotlight three particular charitable endeavors among auto auctions.  And we begin in the Lone Star State. Alliance Auto Auction, a Texas-based group of five physical auto auctions and two digital platforms, said it has raised more than $50,000 this year for CitySquare Abilene Project and Simply Sparrow […] [Read More]

A week after updating its expansion activities in Indiana, IAA said, “Aloha,” from Hawaii. On Thursday, IAA announced the opening of a state-of-the-art, full-service facility in Honolulu. The company highlighted this new location more than triples IAA’s capacity in the state, providing support to meet evolving client needs. IAA said through a news release that […] [Read More]