Extending a string of executive modifications, Dent Wizard International recently promoted Cory Lyda to vice president of operations through a move the company said was effective Jan. 1. In his new role, Dent Wizard highlighted Lyda will serve primarily as the field liaison for the corporation and oversee product-related initiatives. The company added that Lyda […] [Read More]

Electric vehicles took some time to gain steam in the new-car market, but once they did, sales took off like a rocket. Given the measured pace of new EV sales in the years prior to the acceleration in 2021, pre-owned EVs remain a “niche market,” due to the resulting low supply and other considerations, says […] [Read More]

IAA made another move on Wednesday to reinforce its European operations. The company announced that it has secured ground for the construction of a new full-service facility in Bristol, located in the southwest region of the United Kingdom. IAA said through a news release that the additional capacity resulting from the new location will help […] [Read More]

The National Auto Auction Association and KAR Global said in a joint statement Tuesday that KAR is licensing its “Privacy Pam” privacy and security training program for NAAA-member auctions to use. KAR uses the training program to help its near-10,000 employees protect the data and information of its customers — which include automakers, dealers, fleets, […] [Read More]

That headline you just read is part of the blunt assessment of the wholesale market Black Book gave as part of its newest installment of Market Insights released on Tuesday. That observation came even as analysts saw wholesale prices dip for the third week in row to start the year. [Read More]

When General Motors launches CarBravo later this year, the majority of the vehicles available on the omnichannel used-car sales platform will be inventory owned by its dealers. However, CarBravo will also include vehicles owned by General Motors and GM Financial, like off-rental and off-lease units. So, that begs the question: how would that impact the […] [Read More]

The wholesale vehicle market has started 2022 with some mixed signals, it appears. After reaching an all-time in December, the Manheim Used Vehicle Value Index climbed another 0.8% in the first half of January. But that gain was largely driven by seasonal adjustment, Cox Automotive said in a Data Point report Wednesday. “The non-adjusted price […] [Read More]

With about half the country dealing with cold temperatures, freezing rain, snow or just general winter blah, you also could say that the wholesale market is off to a somewhat chilly start to 2022, as well. Black Book reported in the newest installment of Market Insights that value declines continued to round out the second week […] [Read More]

The expo hall floor at the National Automobile Dealers Association's annual convention is where a lot of new companies and products make their debuts.  The National Auto Auction Association will celebrate their own debut, of sorts, at NADA Show 2022 when it hosts a workshop at the dealer convention for the first time. And that’s just […] [Read More]

A telling sign for the used-car supply shortage is evident in the latest Wholesale Market Update from J.D. Power Valuation Services. There were 3.91 million vehicles (up to 8 years old) sold at auction last year, which was down 13% year-over-year. “However, when compared with pre-pandemic levels, auction sales trended 25%-30% lower during the course […] [Read More]