Nearly new, late-model vehicles are in high demand, especially by franchised stores with tight new-vehicle inventory because of manufacturing challenges. Units with much lower actual cash values are wanted, too, as dealers of all stripes cater to budget buyers who got a financial bump via a stimulus or federal income tax refund. Put the trends together […] [Read More]

America’s Auto Auction has promoted Jordan Clark to fleet/lease manager at America’s Auto Auction Bowling Green. America’s Auto Auction senior vice president Brian Thomas said Clark did well in helping the Bowling Green auction’s clients get through the challenges of remarketing vehicles during the pandemic. Clark, who has worked at the Bowling Green facility since […] [Read More]

KAR Global will have a new chief executive officer on April 1. The company announced Tuesday afternoon that KAR president Peter Kelly will succeed Jim Hallett as CEO. Hallett, who has been CEO since 2009 and KAR’s chairman since 2014, will become the company’s executive chairman. He will continue in an advisory role with KAR. […] [Read More]

VINData Products LLC has added Manheim Market Report and Black Book wholesale and retail vehicle values to its vehicle history reports, saying the vehicle values provide accurate, independent information for auto dealers. The company said the reports help used-car dealers more effectively source the right vehicles for their markets, and they can also help boost […] [Read More]

In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week. For more than a decade, Women in Remarketing has recognized excellence among the leaders of the remarketing and used-car […] [Read More]

No matter how chief economist Tom Kontos and his team dissected most of their numbers, wholesale prices within the data available to KAR Global Analytical Services have demonstrated noticeable gains year-over-year. The latest installment of the Kontos Kommentary included not only an in-depth comparison of the January data, but KAR Global also delved into some […] [Read More]

ACV Auctions has filed the paperwork for an initial public offering.    A Form S-1 was filed with the Securities and Exchange Commission on Friday for an initial IPO of ACV’s Class A common stock.    In the form, which was published at 4:32 pm (ET), the Proposed Maximum Aggregate Offering Price was set at $100 […] [Read More]

Editor's Note: This is Part I of a three-part series on how the auto auction industy was impacted by and responded to the destructive winter storm that hit the central U.S. in mid-February. First up is a look at how ADESA's use of technology to facilitate remote sales allowed it to carry on without much […] [Read More]

In his new role as national project director for Dent Wizard International, Mike Shaw will focus on the management and growth of Dent Wizard’s WTD — or Wheel, Tires and Dent — program. Dent Wizard, a provider of vehicle reconditioning and protection services, launched the WTD program last year. The company’s senior vice president of […] [Read More]

If dealers had electricity and internet access, they were buying vehicles at auction last week, no matter how cold it became or strange it appeared to see locations with both palm trees and snow. Black Book analysts said auction sales rates remained strong last week despite places like the entire state of Texas being under […] [Read More]