It was a “punch in the gut,” says Sam Chaple. Manheim Nashville, an auto auction where Chaple has worked for 20 years and whose current location he helped launch, took a direct hit from an F3 tornado during the devastating and deadly storms that hit Tennessee in early March, he said. “To bring this one […] [Read More]

Another company in the used-car space is going public through a merger with a special purpose acquisition company, also called a SPAC. CarLotz and Acamar Partners Acquisition Corp., a publicly traded SPAC, announced Thursday they have agreed to a definitive business combination through which the used-car consignment and trademarked “Retail Remarketing” platform would become publicly […] [Read More]

Both Black Book and J.D. Power Valuation Services are reporting that wholesale prices are continuing to soften after the profound rebound they made this summer following the initial onset of the pandemic. However, both firms are seeing wholesale volume still being soft in the auction lanes as we get deeper into autumn. According to J.D. […] [Read More]

Noting that many vehicles are no longer picked up from a physical site, Manheim says its newly created Manheim Vehicle Release process gives buyers and sellers anytime access to the tools they need to release and pick up vehicles. And they have that access whether the vehicle has passed through a Manheim gate or not. […] [Read More]

The National Auto Auction Association has elected its vice president to serve alongside NAAA president Julie Picard and president-elect R. Charles Nichols for its 2020-2021 term. Elected to the VP role is Garrison Hudkins, who is VP of Southern Auto Auction in East Windsor, Conn., along with Easton Powersports Auction and SAFS, Inc. Hudkins’ grandfather-in-law […] [Read More]

TradeRev is bringing back its Move Metal transport guarantee, which guarantees dealers that all vehicles purchased with transport in the app within 300 miles of their lot will arrive within three business days or fewer. If not, the delivery charge is free. TradeRev is a digital marketplace platform of KAR Global, and the company said it […] [Read More]

Stating that the move supports the company’s growth in an expanding market, global digital marketplace IAA is expanding and relocating its St. Louis East branch to Caseyville, Ill. IAA said the new location updates the branch facilities and accommodates its customers’ increased capacity needs. The new site, which features a covered vehicle inspection center building […] [Read More]

Exactly seven months ago Friday, KAR Global announced all ADESA auction locations in the U.S. and Canada would temporarily, but immediately, move to simulcast-only amid the COVID-19 pandemic.  Four days later, KAR would temporarily halt all ADESA physical auction operations, including simulcast, before gradually resuming some simulcast activities beginning in early April.  Operations have been opening up […] [Read More]

Stating that it will align core competencies from across its portfolio of companies in the areas of customer support, logistics, assurance, and titles, payment and funding, KAR Global said Thursday it has created a “customer experience center of operational excellence.” The company said the center will simplify how customers interact and transact with the company. It […] [Read More]

Dealerships sold millions of used vehicles during the summertime, including a four-month stretch of year-over-year sales gains. However, Black Book isn’t necessarily seeing buyers and managers rushing to replenish store inventory. According to their newest COVID-19 Market Insights released on Tuesday, analysts highlighted a typical autumn wholesale price cooldown, explaining that those softer prices aren’t […] [Read More]