While slightly softer than the previous weeks in the month, Black Book highlighted another weekly wholesale value uptick — extending the industry’s streak to 18 in a row — lifted its Used Vehicle Retention Index to another record. Black Book reported its May index reading came in at 159.6, increasing 7.1 points or 4.7% from […] [Read More]

The McConkey Auction Group, which purchased ABS Auto Auctions in 2020, has transferred ABS ownership to EBlock, and July 12 will be the first ABS auction on the EBlock platform. ABS will be a key piece of EBlock’s national expansion. ABS is a completely digital auction company that has 10 physical facilities located throughout California, Arizona, […] [Read More]

Manheim is adding another support pillar to make sure the auction giant is meeting the need of every one of its clients with the launch of a new client shared services group. The group is designed to deliver a more consistent client experience and to align the varied needs of its clients, the Manheim team explained […] [Read More]

ACV said Tuesday it has launched a new platform that gives dealer groups and commercial partners a way to host closed sales for select audiences. ACV PRIVATE MARKETPLACES will first be available for large dealership groups with multiple locations, and then for commercial consignors looking for a way to host closed auction sales. In an […] [Read More]

Copart welcomed a new addition to its board of directors in a move that was effective Wednesday. Joining the leadership group for the online salvage auction company is Cherylyn Harley LeBon, who currently serves as a partner with the law firm of Dunlap, Bennett & Ludwig based in Washington, D.C.  She is a member of […] [Read More]

Probably no one would have begrudged Sara Edgington if she exclaimed an extra loud “Yee-haw” during the 2021 Texas Auctioneers Association Senior Bid Calling Championship. The general manager for Texas Lone Star Auto Auction became the first woman to win the competition, which culminated on Saturday at the Kalahari Resort & Conference Center in Round […] [Read More]

Two months after ACERTUS named a new chief executive officer, the tech-driven automotive logistics and services company this week announced the professional who now will be serving in the newly created position of chief revenue officer. Tasked with leading global sales operations, driving revenue growth and supporting ACERTUS’ ongoing mission to be a leader in […] [Read More]

CarLotz filed a Form 8-K with the Securities and Exchange Commission on Wednesday, explaining that its “profit-sharing corporate vehicle sourcing partner” has notified CarLotz that it has paused consignments to the company, given the condition of the wholesale vehicle market. CarLotz declined to share the name of the sourcing partner, citing a legal agreement, but […] [Read More]

Going into Memorial Day weekend and the unofficial start of summer, Black Book used its latest installment of Market Insights to give a well-rounded recap of the rising wholesale price trajectory that’s now lasted four months with average weekly increases above 1.0% for the past 11 weeks. Black Book explained these rapidly rising values can […] [Read More]

Even (and perhaps especially) in an increasingly digital landscape, the physical space owned by brick-and-mortar auto auctions can be advantageous. That was apparent with a recent move by Manheim Central Florida, which transformed one of its unused spaces into a mechanic facility for retail reconditioning. The now 8,500-square-foot recon space was formerly a multipurpose facility […] [Read More]