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]

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]