Manheim has appointed two new general managers and promoted three leaders into auction management positions, with one of the promotions a new vice president and general manager for its third-largest auction location. “Manheim is tapping the broad knowledge and experience of this talented team of leaders to help position our company for future success,” said Patrick […] [Read More]

Manheim has named Brad Burns as associate vice president of vehicle information, saying that the move takes place as digital wholesale continues as a primary source for buying and selling vehicles. The move comes amid 81% of Manheim’s 2020 sales going to digital buyers. Burns has been with Manheim for 17 years, and he has […] [Read More]

McConkey Auction Group has named several leaders who will serve in new management positions, and the company also announced some promotions. Aaron McConkey is one of those leaders, and the auction group has appointed McConkey to serve as vice president of strategic technology. McConkey Auction Group, or MAG, said that McConkey has served as Auction […] [Read More]

Auction sales volumes at the midpoint of January were the strongest weekly output since before Thanksgiving, but they remain significantly softer than year-ago levels, says J.D. Power Valuation Services, bumping up prices in the lanes. In the firm’s Used Market Update released Friday, J.D. Power said there were about 87,000 auction sales of vehicles up […] [Read More]

Through a new program, Manheim is expanding and enhancing protection of digital purchases. The program is called Digital Buyer Protection, and Manheim says it will help dealers buy more confidently online. The program applies across all of Manheim’s digital platforms and expands coverage for vehicles with condition reports for damaged items not previously covered. Examples […] [Read More]

ADESA has launched a new inspection technology solution and software platform designed to provide “high quality, industry-leading inspections — making significant leaps in transparency, relevance and accuracy.” The upgrades come as the wholesale auto industry, and ADESA parent KAR Global, is shifting further digitally, thus underscoring the need for reliable condition reports in an online […] [Read More]

CarLotz is now officially a publicly traded company. It began trading on NASDAQ on Friday, following the completion of its merger Thursday with Acamar Partners Acquisition Corp., a special purpose acquisition corporation. Auto Remarketing's Joe Overby caught up with CarLotz CEO Michael Bor on Friday to talk about this landmark day in the company's history. […] [Read More]

CarLotz is now officially a publicly traded company. Its shares began trading Friday on the Nasdaq Global Market, following the completion of its merger Thursday with Acamar Partners Acquisition Corp., a special purpose acquisition corporation. The merger was first announced in October. The combined company’s ticker symbol is “LOTZ.” “Today marks another major milestone for […] [Read More]

Wholesale market experts from Black Book and J.D. Power both spotted strengthening sales volume happening in the auction lanes. J.D. Power called it a return to the “new” normal when wholesale auction sales of vehicles up to 8 years old reached approximately 78,000 units during the week ending Jan. 10. That volume figure came after […] [Read More]

United Auto Credit has shared its 2020 Auction of the Year winner, and earning the annual award is Louisiana’s 1st Choice Auto Auction. The company said its annual award considers all pieces of the remarketing process, including metrics like recovery percentage, conversion percentage, reporting accuracy and auction efficiencies, the latter measured by transport time, condition […] [Read More]