UPDATED: Story has been updated to correct start date of Lev Peker. CarLotz announced on Tuesday afternoon that the last day of employment for co-founder and chief executive officer Michael Bor will be Wednesday. The company also appointed Lev Peker as its new CEO, who will be taking on the role effective April 18. The company […] [Read More]

Major League Baseball settled its labor dispute last week, so spring training is intensifying quickly in Florida and Arizona. But wholesale prices softened another 0.64% last week, prompting Black Book to wonder when dealers are fully ready to embrace the spring season. In the latest installment of Market Insights, Black Book on Tuesday said, “week-over-week […] [Read More]

The CarLotz business model has long been a bridge from remarketing to retail, as the company describes itself as the “nation's largest consignment-to-retail used vehicle marketplace.” Its latest move may also help it bridge brick-and-mortar to digital. On Monday, CarLotz announced the launch of its mobile app, which it says is part of efforts to […] [Read More]

With more than 40 years of company tenure between them, Manheim announced the appointment of three new general managers who each have deep experience serving their clients, team members and communities. The trio tapped for these auction leadership positions during the first quarter included DiAngelo Brooks, David Carlucci and Charlie Clarke. The company said Brooks […] [Read More]

On Thursday afternoon, a presentation at the National Auto Auction Association’s Total Access event delved into what the future could look like for automotive, particularly around microchips and electric vehicles. But earlier that day, the association took time to honor three of the most influential leaders in the auction industry’s recent history. Sandy Schwartz, the […] [Read More]

The ServNet auction group has a new executive director. Officially taking on that post is Chris Angelicchio, whose background in the industry goes back 20 years and whose family has been in the auto auction business for generations. Angelicchio’s auction career dates back to 2002, when he joined his family’s Pittsburgh Independent Auto Auction in […] [Read More]

Dealers found a small piece of price relief in the wholesale vehicle market last month. Though still historically high and well above year-ago and pre-pandemic levels, wholesale vehicle prices have shown their first month-over-month decline since … [Read More]

Manheim announced Monday that it is launching mobile imaging capabilities powered by Fyusion — a company in the computer vision and vehicle imaging solutions space that parent company Cox Automotive acquired in early 2021 — at all of its auction locations. The company has also installed an AI-driven fixed imaging gantry at its Manheim Minneapolis auction. […] [Read More]

KAR Global’s agreement to sell its U.S. ADESA auto auction business to Carvana has potential impacts to parties beyond those involved in the deal. For example, their respective competitors, who have various business relationships with the aforementioned companies. So, what happens to those relationships moving forward? [Read More]

The leadership structure of the newly combined XLerate and America’s Auto Auction groups continues to take shape. XLerate Group — which is the parent company of America’s, Auction Credit Enterprises, XLerate Auctions, XL Funding and Liquid Motors — has named four new senior vice presidents. These new senior VPs — Laura Taylor, John Swofford, Jason Nichols and Brian […] [Read More]