If Tom Kontos wanted to speak in the language of his nationality when describing wholesale prices for pickups, the KAR Global chief economist would say “idiaítera dynatós,” which is Greek for “particularly strong.” Pickups are among the seven vehicle segments with wholesale prices at least 26% higher than a year ago, according to the August […] [Read More]

Wholesale values are continuing their typical autumn descent, according to the COVID-19 Market Insights released by Black Book on Tuesday. However, analysts and auction observers noticed that consignors aren’t budging much when it comes to the floors for the limited volume of vehicles going through the wholesale market nowadays. With that scenario as the backdrop, […] [Read More]

Kenny Cheung, who was recently promoted to executive vice president of finance, chief operational finance and restructuring officer for Hertz Global Holdings, has been named the company's chief financial officer. Cheung, who previously served as senior vice president of global financial planning and analysis and chief financial officer of North America at Hertz, joined the […] [Read More]

Global digital marketplace IAA says PayPal is now a new payment option for vehicle purchases, registration, fees and vehicle transportation booked online. As a result of the company’s customer experience, or CX discipline, IAA says it has researched and developed expanded payment options. Those options, according to IAA, offer more purchasing power and accessibility from what […] [Read More]

Judging by the wholesale price movements, if dealers can add compact luxury SUVs or full-size pickups to their inventory, they will. Otherwise, used-car managers appear to be reducing their enthusiasm for raising inventory levels higher with only about a week remaining in September. Analysts shared those findings and more in Black Book’s latest COVID-19 Market […] [Read More]

Alliance Inspection Management, or AiM, was founded in 2005, with a goal to “inspect the condition of new and used vehicles from bumper to bumper.” On Wednesday, the company announced it has reached a new milestone: It has sold the 600,000th vehicle through its AiM MarketConnect process. The company describes that process as a patented, web-based […] [Read More]

The National Auto Auction Association said in a message to members that it will hold its official presidential transition day on Oct. 8 in a ceremony conducted digitally. The gavel will pass, so to speak, from current NAAA president Laura Taylor to president-elect Julie Picard. The meeting will be held digitally at NAAA.com and begins […] [Read More]

Since Kelley Blue Book partnered with Charitable Adult Rides & Services, or CARS, in 2017, visitors to KBB.com have helped raise $2.5 million for 945 different non-profits. That includes St. Jude Children’s Research Hospital, which has so far received nearly $1 million in total revenue through KBB.com. Now, Kelley Blue Book is expanding on its […] [Read More]

The traditional automotive auction landscape has remained largely unchanged for quite some time, but as with every industry, technology offers opportunities to improve, innovate and push the industry forward.  With the digital landscape opening opportunity, many online auctions offered an entirely digital auction experience, attempting to replace while not effectively replicating the live experience. Still, […] [Read More]

To say that 2020 has been a year like no other is a true understatement, from a global pandemic and social and political unrest to devastating wildfires and a hurricane season that is already one for the record books.  On top of all that, before anyone had ever heard of COVID-19, Manheim was planning to […] [Read More]