Amid some sequential slowing, wholesale vehicle prices closed 2020 with some strength, according to Auto Remarketing’s examination of various indices from around the industry. Starting with the Manheim Used Vehicle Value Index, that came in at 161.1 for December. While wholesale prices were off 0.59% from November (mix-, mileage- and seasonally adjusted), last month’s index […] [Read More]

Online auto auction company Copart has opened four buyer lounges across Eastern Europe, Africa and Latin America that allow international buyers to bid on and purchase Copart vehicles. AutoBidMaster manages the lounges, which are located in Minsk, Belarus; San Salvador, El Salvador; Odesa, Ukraine and Lekki Lagos, Nigeria. Copart said that with the lounges, local […] [Read More]

Perhaps the wholesale industry just ran out of collective gas during the second half of December after it already had experienced so many unprecedented challenges during a year no one is likely to forget. Black Book said the last two weeks of 2020 “were fairly quiet on the auction lanes,” as analysts not only shared […] [Read More]

United Road has launched an initiative to recognize and reward high-performing third-party carriers in its network of independent carriers. It is called the Haully Pro Carrier Rewards Program, and United Road said the program helps support its carriers’ independent businesses, build loyalty and improve quality. Benefits of Haully Pro include quarterly rebate bonuses, dedicated concierge […] [Read More]

Black Book has named former RVI Group and GM Financial executive Rene Abdalah as its new senior vice president of business development. In the newly created position, Abdalah will work with U.S. and Canadian vehicle manufacturers, captive finance companies, lenders and other automotive-related companies to deliver data and analytical services. Jared Kalfus, Black Book executive vice president, revenue, […] [Read More]

Cox Automotive made quite the M&A splash to begin 2021, announcing two major purchases Tuesday that provide some additional muscle to its wholesale and mobility units, respectively. In separate announcements, Cox said it has acquired Fyusion — a company in the computer vision and vehicle imaging solutions space — and Dickinson Fleet Services, a mobile […] [Read More]

Saying that expansions will remain an important aspect of its investment strategy, global digital marketplace IAA said it was increasing capacity of its IAA High Desert branch in California and would also increase capacity in the overall Boston market. Regarding expansions in IAA’s Boston market, which will span the IAA Taunton, Templeton, and Shirley branch […] [Read More]

ACV Auctions has redesigned its online buying experience, launching Marketplace 2.0 on Friday. The revamped marketplace is designed to provide a more streamlined interface, customized alerts, real-time notifications on auction activity, as well as new options for searching, browsing and filtering. “For dealers, time is money, and our platform enables them to make the most […] [Read More]

If consignors were football teams, how they’re approaching the current wholesale market might be similar to how the gridiron participants can move the ball down the field. Some football teams methodically run the ball, gaining yards in small chunks. Other squads throw the ball deep downfield to get significant yardage quickly. Consignors appear to be […] [Read More]

Global online auto auction company, Copart, has expanded its Macon, Ga., location, with Copart president Jeff Liaw calling the move a step ahead for the company in central Georgia. With the expansion, the facility now features 65 acres along with additional vehicle storage and operations capacity. To place bids on vehicles through Copart’s online auction […] [Read More]