ACV Auctions has filed the paperwork for an initial public offering.    A Form S-1 was filed with the Securities and Exchange Commission on Friday for an initial IPO of ACV’s Class A common stock.    In the form, which was published at 4:32 pm (ET), the Proposed Maximum Aggregate Offering Price was set at $100 […] [Read More]

Editor's Note: This is Part I of a three-part series on how the auto auction industy was impacted by and responded to the destructive winter storm that hit the central U.S. in mid-February. First up is a look at how ADESA's use of technology to facilitate remote sales allowed it to carry on without much […] [Read More]

In his new role as national project director for Dent Wizard International, Mike Shaw will focus on the management and growth of Dent Wizard’s WTD — or Wheel, Tires and Dent — program. Dent Wizard, a provider of vehicle reconditioning and protection services, launched the WTD program last year. The company’s senior vice president of […] [Read More]

If dealers had electricity and internet access, they were buying vehicles at auction last week, no matter how cold it became or strange it appeared to see locations with both palm trees and snow. Black Book analysts said auction sales rates remained strong last week despite places like the entire state of Texas being under […] [Read More]

With the combination of its BacklotCars and TradeRev products into one marketplace, KAR Global leadership has its eyes on the No. 1 spot in the U.S. digital dealer-to-dealer space. The combination of the marketplaces means that TradeRev's U.S. dealer customers move to BacklotCars, while Canadian dealers remain on the TradeRev platform exclusively, KAR said. That migration began on Feb. 1 with […] [Read More]

Specialty auction remarketing services provider CrankyApe.com has named Evan Davidson as national director of auction sales and operations, noting that he will focus on implementing efficiency-based directives across the company. Davidson will also focus on growing the current sales team at CrankyApe, which is a provider of online auction liquidation services for banks, insurance companies, […] [Read More]

Both Black Book and Cox Automotive reported surging wholesale prices as nearly the entire U.S. wrangles with frigid weather conditions. While Cox Automotive data is showing that dealers’ retail used inventory might be at what experts see as “normal” levels, Black Book shed light on how used-car managers are keeping their lots filled with units […] [Read More]

The TradeRev and BacklotCars online dealer-to-dealer platforms are being combined into one marketplace, parent company KAR Global said Wednesday. U.S. dealers are moving from TradeRev to BacklotCars. Meantime, the company’s Canadian dealer customers will continue to use the TradeRev platform exclusively, KAR said. That migration began on Feb. 1 with the hope of it being […] [Read More]

Through the use of Manheim’s advanced upstream remarketing platform, VW Credit has officially launched the new VolkswagenDirect and AudiDirect sites. Manheim said that with the integration of the sites into the Manheim Marketplace, VW Credit gains a seamless method of offering unsold pre-owned vehicles to Manheim’s base of franchise and independent buyers. Franchise dealers using […] [Read More]

During the fall, ACV Auctions formed a partnership with the American Recovery Association to inspect, list and sell vehicles directly from ARA member storage facilities. And now, in an effort to grow its commercial and rental business models and increase services for dealerships, ACV has announced a partnership with ParkMyFleet to provide flexible property solutions […] [Read More]