Cherokee Media Group senior editor Joe Overby recently shared a conversation with EBlock chief operating officer John Brasher, who moved into his current role on May 3. Brasher discussed both company activities and the current state of the wholesale market. To hear the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  […] [Read More]

How about these potential signals of improvements for used-car managers scouring the lanes for necessary inventory without using their entire floorplan allotment with a single click or tap? Black Book reported on Tuesday that car segments posted the lowest weekly gain in values in 17 weeks. Analysts added that truck values showed their lowest weekly […] [Read More]

Pyle Family Auctions has hired former ADESA executive Jane Morgan as the company’s chief client officer. Morgan started with the group, which includes Mountain State Auto Auction and Capital City Auto Auction, this month, and will head up sales growth, the client experience and operational efficiencies, Pyle Family Auctions said in a release. Morgan’s career in the […] [Read More]

Continuing a busy season of automotive M&A — a run that includes the wholesale segment — IAA announced Monday it has acquired Marisat, Inc., which does business as Auto Exchange. IAA will now operate Auto Exchange's business, which is based out of New Jersey and provides personal service and security for the salvage recovery industry. […] [Read More]

To say there’s a lot of data to be harnessed in an industry that moves tens of millions of vehicles (quite literally and figuratively) would be a major understatement. And as you might imagine, the data in the wholesale auto auction industry goes far beyond prices and the number of vehicles sold. That’s where the […] [Read More]

IAA is expanding its global market reach to bring new life — and potentially value — to American vehicles. On Wednesday, IAA announced a strategic market alliance in Nigeria with Boacon Autos. As the company’s official partner in Nigeria, the company indicated Boacon Autos will operate the local IAA Auction Center in the city of […] [Read More]

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]