Tom Kontos’ “parity” projections for the wholesale market are coming to fruition. The KAR Global chief economist explained his thinking in the latest Kontos Kommentary that showed how average wholesale prices surged past $15,000 in May after passing the $14,000 for the first time ever just a month earlier. [Read More]

For 54 consecutive weeks, there was neither a car nor a car dealer that passed through the lanes of McConkey Auction Group’s DAA Seattle or DAA Northwest locations in Washington state — which was the “initial epicenter” of the COVID-19 pandemic in the U.S. But after closing completely for two months and re-opening in the […] [Read More]

It appears that used-vehicle prices have finally peaked. But don’t expect them to come down too much — the year is likely to end with prices still near record highs. [Read More]

Delayed for about a year because of the pandemic, Hertz’s effort to help the Jack & Jill Late Stage Cancer Foundation (JAJF) came to fruition. On Friday, Hertz announced that the donation of its 2020 Hertz-Hendrick Motorsports Camaro ZL1 has raised $250,000 for JAJF. Hertz donated the No. 1 production model of only 24 limited-edition […] [Read More]

Cherokee Media Group senior editor Joe Overby recently shared a conversation with EBlock chief operating officer John Brasher, who moved into his current role on May 3. Brasher discussed both company activities and the current state of the wholesale market. To hear the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  […] [Read More]

How about these potential signals of improvements for used-car managers scouring the lanes for necessary inventory without using their entire floorplan allotment with a single click or tap? Black Book reported on Tuesday that car segments posted the lowest weekly gain in values in 17 weeks. Analysts added that truck values showed their lowest weekly […] [Read More]

Pyle Family Auctions has hired former ADESA executive Jane Morgan as the company’s chief client officer. Morgan started with the group, which includes Mountain State Auto Auction and Capital City Auto Auction, this month, and will head up sales growth, the client experience and operational efficiencies, Pyle Family Auctions said in a release. Morgan’s career in the […] [Read More]

Continuing a busy season of automotive M&A — a run that includes the wholesale segment — IAA announced Monday it has acquired Marisat, Inc., which does business as Auto Exchange. IAA will now operate Auto Exchange's business, which is based out of New Jersey and provides personal service and security for the salvage recovery industry. […] [Read More]

To say there’s a lot of data to be harnessed in an industry that moves tens of millions of vehicles (quite literally and figuratively) would be a major understatement. And as you might imagine, the data in the wholesale auto auction industry goes far beyond prices and the number of vehicles sold. That’s where the […] [Read More]

IAA is expanding its global market reach to bring new life — and potentially value — to American vehicles. On Wednesday, IAA announced a strategic market alliance in Nigeria with Boacon Autos. As the company’s official partner in Nigeria, the company indicated Boacon Autos will operate the local IAA Auction Center in the city of […] [Read More]