Black Book’s latest installment of Market Insights showed how dealerships now are paying nearly $27,000 for a piece of inventory that cost just $20,000 at the beginning of the year. And there’s little evidence to refute the notion that the same unit might approach $30,000 soon stemming from the current pace of wholesale price increases. [Read More]

With longtime Cox Automotive executive Janet Barnard retiring at the end of the month, the company announced on Tuesday who its new chief people officer is. Cox Automotive said through a news release that Michele Parks is taking on this position, leading a team responsible for recruiting, developing and managing talent for more than 25 […] [Read More]

CarLotz said Monday it expects it will be added to the broad-market Russell 3000 Index and the Russell 200 Index, once the 2021 Russell indexes annual reconstitution finishes. The addition will be effective after the U.S. market opens on June 28. CarLotz said this is based on a June 4 preliminary list of additions. The […] [Read More]

Hertz Global Holdings reached a significant achievement on Thursday, as the company rebounds from pandemic challenges. Hertz announced that a federal bankruptcy court confirmed the company’s plan of reorganization. According to a news release, the plan unimpairs all classes of creditors — who are legally deemed to have accepted it — and was approved by […] [Read More]

Transporting a vehicle can have a lot of moving parts and, well, logistics involved. And new partnership aims to help improve the chain of custody, communications and transparency in that process of moving vehicles. ConditionReports.com has created a new app called “TransportCR” that’s connected to AutoIMS. The tool aims to better capture the transportation inspection […] [Read More]

Last weekend might have marked more than just Americans commemorating Memorial Day. Black Book now is watching closely for a potential pivot in the wholesale market. Analysts explained their reasonings in their latest installment of Market Insights released on Tuesday. [Read More]

Christina Potts said she feels “like I’m coming home.” America’s Auto Auction announced that Potts has been named the company’s national client accounts manager. A native Texan with 15 years of auction industry experience, the company highlighted Potts brings with her a strong background in operations, fleet/lease management and client relationships. “We are so fortunate […] [Read More]

Digital auto marketplace IAA is growing their leadership team with the hiring of Peg Burr as senior vice president of product management, in an effort to strengthen product development in the global marketplace.  Most recently, Burr was VP and global product portfolio leader for the digital business of Cognizant. Prior to Cognizant, she led global end-to-end […] [Read More]

While slightly softer than the previous weeks in the month, Black Book highlighted another weekly wholesale value uptick — extending the industry’s streak to 18 in a row — lifted its Used Vehicle Retention Index to another record. Black Book reported its May index reading came in at 159.6, increasing 7.1 points or 4.7% from […] [Read More]

The McConkey Auction Group, which purchased ABS Auto Auctions in 2020, has transferred ABS ownership to EBlock, and July 12 will be the first ABS auction on the EBlock platform. ABS will be a key piece of EBlock’s national expansion. ABS is a completely digital auction company that has 10 physical facilities located throughout California, Arizona, […] [Read More]