Tuesday was the first day of March, and signs of the spring market might be germinating in the lanes. According to Black Book’s Market Insights, wholesale prices still declined last week, but not as much as analysts had seen earlier in February. Black Book pegged the latest weekly value decline at 0.61%, which is 17 […] [Read More]

It may seem like digitization of wholesale automotive is at peak intensity. But it’s only the beginning, says KAR Global chief executive officer Peter Kelly. And KAR’s agreement to sell its ADESA brick-and-mortar auction business in the U.S. to Carvana makes the company leaner and more financially flexible to capitalize on this increasingly digital environment. […] [Read More]

It appears the frenetic M&A activity in auto retail has found its way to the wholesale space. ACV said Monday it has acquired Monk SAS, an imaging and vehicle inspection platform designed to automotive vehicle damage detection through artificial intelligence. Within the last week,  E Automotive Inc. and its EBlock brand have purchased the FastLane Auto […] [Read More]

For decades, you could walk into an ADESA facility (or any auto auction, for that matter) and generally know what to expect on sale day. A multitude of lanes, each with a block where an auctioneer would call bids, as vehicles would slowly drive through as dealers put in their bids. The auction format has […] [Read More]

Carvana’s agreement to buy ADESA’s U.S. auction locations for $2.2 billion is arguably the most landscape-shifting move to impact the wholesale auto industry in decades, if not ever. One might ask, though, why would a digital used-car retailer buy such a physical asset-heavy business as a bricks-and-mortar auto auction chain — especially at a time […] [Read More]

A day after announcing a major move associated with its business operations in Canada, IAA turned its attention back to the U.S. on Friday. The company announced that it has completed a branch expansion at IAA Fontana and has broken ground on a new branch to meet growing demand in southern California. Executives highlighted the […] [Read More]

This is a developing story and will continue to be updated. KAR Global has signed a definitive agreement to sell all of its ADESA physical auction business in the U.S. to Carvana for $2.2 billion.  The all-cash deal would include all auction sales, operations and staff at 56 ADESA U.S. vehicle logistics centers in the U.S. Carvana […] [Read More]

Autosled reinforced its leadership team this week, as the company aims to make vehicle logistics/transportation more efficient and simpler through technology. Joining Autosled as vice president of business development is Bart Schuster, while coming aboard as vice president of data and analytics is David Darden. While Darden has arrived from outside the automotive industry, Schuster is […] [Read More]

It’s shaping up to be an unusual spring. Spring training isn’t the usual buzz because of the labor clash involving Major League Baseball. And Black Book is seeing wholesale values soften, even as IRS data shows a double-digit rise in federal income tax filings that often can fuel what happens in the lanes. [Read More]

E Automotive Inc. and its EBlock brand have purchased the FastLane Auto Exchange independent auto auction. The acquisition of FastLane, located in Mount Morris, Mich., expands EBlock’s footprint to the Midwest, and better positions the company for facilitating cross-border dealer-to-dealer transactions. “The acquisition of FastLane Auto Exchange uniquely strengthens our wholesale marketplace, EBlock, in both […] [Read More]