Both Black Book and Cox Automotive reported surging wholesale prices as nearly the entire U.S. wrangles with frigid weather conditions. While Cox Automotive data is showing that dealers’ retail used inventory might be at what experts see as “normal” levels, Black Book shed light on how used-car managers are keeping their lots filled with units […] [Read More]

The TradeRev and BacklotCars online dealer-to-dealer platforms are being combined into one marketplace, parent company KAR Global said Wednesday. U.S. dealers are moving from TradeRev to BacklotCars. Meantime, the company’s Canadian dealer customers will continue to use the TradeRev platform exclusively, KAR said. That migration began on Feb. 1 with the hope of it being […] [Read More]

Through the use of Manheim’s advanced upstream remarketing platform, VW Credit has officially launched the new VolkswagenDirect and AudiDirect sites. Manheim said that with the integration of the sites into the Manheim Marketplace, VW Credit gains a seamless method of offering unsold pre-owned vehicles to Manheim’s base of franchise and independent buyers. Franchise dealers using […] [Read More]

During the fall, ACV Auctions formed a partnership with the American Recovery Association to inspect, list and sell vehicles directly from ARA member storage facilities. And now, in an effort to grow its commercial and rental business models and increase services for dealerships, ACV has announced a partnership with ParkMyFleet to provide flexible property solutions […] [Read More]

Scott Morrow has assumed the role as operations manager for Akron Auto Auction, overseeing the recon department, lot crew, security department, condition reporting, and the outside repossession department operations. Morrow, who has been with AAA for 23 years, will be responsible for all the auction's outside operations and functionality on sale day. Starting his auction […] [Read More]

Motley’s Richmond Auto Auction in Virginia received three awards from C&F Finance Co. and C&F Remarketing, including Auction of the Year. It is the second year that Motley’s has received the auction of the year award from C&F Finance, an indirect finance company based in Richmond that provides automobile, marine and RV financing in 22 states. […] [Read More]

With the auction's general manager describing her as an essential member of the America’s Auto Auction Chicago team since 1996, America’s Auto Auction recognized the auction’s assistant general manager, Maria Perez, with its February 2021 Spotlight Award. Perez is a natural-born leader, and the auction’s many customers hold her in the highest regard at the […] [Read More]

While some dealers might be using some of their available screen time to join the virtual version of NADA Show 2021, managers who are still on their devices tasked with finding used-vehicle inventory continue to confront rising wholesale prices. And the newest Black Book Market Insights detailed how buying dealers are dipping deeper into their […] [Read More]

Coinciding with Black Book releasing its first index reading of the year, Cox Automotive reported the latest upward moves of the Manheim Used Vehicle Value Index; similar to what the analyst team at J.D. Power Valuation Services spotted, too. Cox Automotive indicated that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose […] [Read More]

Global digital marketplace IAA says its AuctionNow platform improves the bidding experience and allows for enhancement based on customer feedback and recommendations. It has been in use throughout IAA’s Canadian operations since 2016 and in the United States since 2019. On Thursday, the company said its UK-based business unit has launched IAA AuctionNow, which is […] [Read More]