Data contained in the newest Kontos Kommentary might have reinforced value of the latest functionality of ADESA’s platform to help dealers still be profitable during times of unprecedented wholesale prices. Coinciding with the launch of the company’s proprietary “% to Retail” tool, KAR Global chief economist Tom Kontos said average wholesale vehicle prices cracked the […] [Read More]

The Manheim Used Vehicle Value Index appears headed for unprecedented territory. After the first 15 days of May, the mid-month reading of the index eclipsed the 200 mark, climbing 48% from May 2020 and reaching 202.9. A look at readings of the index dating back to January 1997 shows [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. Even in a wholesale auto industry that’s increasingly going digital, it’s never really quite as simple as “push a button, buy a car.” Be it at a physical auction, through an online auction or any other […] [Read More]

Sweet 16, indeed. Black Book reported on Tuesday via its latest installment of Market Insights that wholesale values now have increased for 16 consecutive weeks. It’s getting so intense in the lanes that some dealers are fetching better returns in the wholesale space rather than via retailing. “Despite the limited inventory on dealer lots, many […] [Read More]

ADESA said Tuesday it has named new general managers at several of its auction locations throughout the U.S. and Canada. Those auctions and their respective new GMs are: ADESA Pittsburgh: Carly Bishop ADESA East Tennessee: Terry Costner ADESA Nashville: Ryan Hellemn ADESA Mercer: David Skiver ADESA Houston: Brian Wetzel ADESA Moncton: James Murphy Regarding the […] [Read More]

In looking at the highlights of the first-quarter results at ACV Auctions, one in particular stands out: its auction marketplace revenue nearly doubled. ACV reported $34.3 million in auction marketplace revenue during Q1, which beat year-ago figures by 92%.   Its marketplace and service revenue was up 69%, coming in at $58.4 million. Marketplace unit sales were […] [Read More]

KAR Global chief economist Tom Kontos might have channeled his inner weatherman when he used the term “perfect storm” as part of his description of the current wholesale market. Kontos elaborated about what he meant and more during another conversation for this episode of the Auto Remarketing Podcast. To hear the conversation, click on the link […] [Read More]

It’s been a little over four months since I took on the role of leading Manheim’s vehicle information. And in that time, I’ve been thinking a lot about light. Maybe it’s because we’re finally seeing the light at the end of the tunnel with progress on COVID vaccines. And maybe it’s because it feels like […] [Read More]

Manheim has a long and dedicated track record of making it a priority to try to ensure the safety of its employees, clients and guests, both in the lanes and on the lots.  And yet, the unprecedented events of 2020 — a global pandemic, social and political unrest, devastating wildfires, and a hurricane season for […] [Read More]

The pandemic certainly impacted Hertz Global Holdings as much as any company with a connection to vehicles. But the company shared several positive developments in recent days, including the closing of its Donlen sale, more than $1 billion in first quarter revenue as well as how its exit from Chapter 11 bankruptcy will be funded. […] [Read More]