Along with his usual review of wholesale price data compiled within KAR Global, chief economist Tom Kontos also used his regular industry update to offer a forward-looking price assessment, leveraging figures from the U.S. Bureau of Labor Statistics. For his newest Kontos Kommentary, Kontos examined the historical relationship between the used- and new-vehicle consumer price […] [Read More]

What you might have thought of as just a back-lot beater that only starts, steers and stops might be the vehicle currently most in demand in both the wholesale and retail markets. Black Book said the “real headline” of last week was the value increase for vehicles 8 to 16 years old, as analysts determined […] [Read More]

Rapid Recon chief executive officer Dennis McGinn is the guest for this episode of the Auto Remarketing Podcast to discuss how dealers are preparing inventory; whether the vehicles are coming via trades, the wholesale market or purchases made from private owners. McGinn also pointed out who at the dealership is taking an even greater interest […] [Read More]

The top executive leadership changes at CarLotz continued on Thursday. Along with announcing that chief operating officer John Foley and chief technology officer Dan Valerian will be departing in April, CarLotz appointed a new president as well as a new CTO. Taking on the role of president of consignment-to-retail used vehicle marketplace is Ozan Kaya, […] [Read More]

XLerate Group, the parent company of America’s Auto Auction, has reinforced its sales and marketing departments by placing a trio of experienced wholesale market professionals into critical roles. The latest move arrived on Friday when the company announced the appointment of Sawyer Walker as director of national sales for the combined wholesale operation.  Walker started […] [Read More]

This week, GM Financial named five regional 2021 Auction of the Year winners and a winner of Most Valuable Auction of the Year, which are part of the consignor’s annual nationwide auction of excellence program recognizing the highest-performing auction locations in 2021. GM Financial said recipients were selected after reviewing each of the company’s 50 […] [Read More]

On Wednesday, Copart announced that its board of directors has appointed Jeff Liaw, who has been serving as president and chief executive officer North America, to be co-CEO in a move that’s effective on Friday. According to a news release, Copart said Jay Adair will continue his leadership of the company as co-CEO and as […] [Read More]

Along with recently broadening its foreign enterprise in Africa and Central America, IAA on Wednesday announced the domestic expansion of branches in Iowa and Illinois. According to a news release, capacity has doubled at the IAA Des Moines branch and IAA St. Louis has increased capacity by approximately 30%. IAA said the expansions will help […] [Read More]

Exeter Finance announced its 2021 Exeter auction eXcellence and EMI awards at the recent CAR Conference in Las Vegas, recognizing auctions in divisions based on size and units sold. Taking home the honors were: Division III: DAA Seattle Division II: Metro Phoenix Division I: Bel Air Auto Auction The EMI winner was Indiana Auto Auction. […] [Read More]

Black Book said the estimated average weekly sales rate continued to climb, as during the timeframe that concluded on Saturday, it stood at 67%, marking a similar rise they saw last week and “another positive indicator for a spring market.” Analysts rattled off several more reasons why spring might be germinating in the wholesale market […] [Read More]