Shortly after Manheim began putting some real muscle behind its electric vehicle infrastructure plan some two years ago, the COVID-19 pandemic threw a major roadblock across multiple lanes of the auto industry. It was a stoppage that would almost certainly clog automaker investment in EVs — or so the auction company thought. “One of the […] [Read More]

Perhaps Black Book should write down wholesale records in chalk or pencil; something that can be easily erased and updated. Analysts said the Black Book Used Vehicle Retention Index set a new record, as the September reading came in at 169.5 points, representing an increase of 3.8 points or 2.3% from August. [Read More]

Former Ford Motor Co. president and chief executive officer Mark Fields is now the interim CEO at Hertz. Paul Stone, previously the CEO, is now the president and chief operations officer for the rental-car company. In Tuesday’s news release, Hertz said the leadership change is “part of a vision for an all-new Hertz that combines […] [Read More]

The particular vehicle that delivered an online order to your home or brought the air conditioning or plumbing repair crew represents the hottest segment of a wholesale market that’s continue to sizzle. Black Book reported on Tuesday that overall wholesale prices continued to increase for a fifth consecutive week. [Read More]

Black Book is now available to dealers using TradeVue, an omnichannel inventory, and customer acquisition tool that provides plug-n-play conversion technologies such as trade-in appraisals, price reassurance reports, market analytics, and other premium product. It was announced Tuesday that Black Book's data has been integrated into TradeVue, and Black Book’s integration is already on the TradeVue platform as of the […] [Read More]

Here’s another information source used-car managers can use to create the best possible inventory for their stores. On Tuesday, autoniq — a business unit of KAR Global — announced the launch of the autoniq Wholesale Index, which is a new product that can provide direct access to auction data on vehicles sold at auction — […] [Read More]

Although the National Auto Auction Association postponed its in-person convention this year, NAAA did still find a way to honor those making big waves in the industry, as well as install its leadership for the coming year. Some of these orders of business were conducted during a recent virtual all-member meeting broadcast from NAAA headquarters in Frederick, […] [Read More]

Perhaps the opposite of the “perfect storm” is the “perfect drought.” The latter term is what KAR Global chief economist Tom Kontos used to describe what’s happening in the wholesale market, especially when it comes to prices and supply. [Read More]

Third-party logisitcs brokerage Montway Auto Transport has hired two new c-level executives this week. Chosen as the company's new chief operating officer is Kaye Ceille, while Alberto Anguiano has been named its new chief financial officer.  These moves are designed to help continue future development and growth, Montway said. Ceille brings over 25 years of experience within the transportation and travel […] [Read More]

Private equity firm Brightstar Capital Partners said Tuesday it has completed its acquisition of XLerate Group, a deal initially announced Sept. 2. Brightstar is now the majority owner of the auto auction and remarketing facilitation company. “The XLerate team’s industry knowledge and operational expertise impressed us as we spent time at their auction sites around […] [Read More]