Wholesale vehicle prices climbed to an all-time high in June, according to Cox Automotive, which said Wednesday the company’s Manheim Used Vehicle Value Index was a record 149.3 for the month. But don’t expect these highs in used-car values to last. More on that later, but for June’s purposes, the Manheim index was up 6.3% year-over-year. […] [Read More]

America’s Auto Auction promoted a staff member at its facility in Virginia Beach, Va., as the location welcomes customers back for live sales and readies for an upswing in fleet and lease volumes following the slowdown stemming from the industry restrictions put in place to battle COVID-19. According to a news release distributed on Tuesday, […] [Read More]

Fleet maintenance being done through mobile programs continued to gain usage this week. Merchants Fleet announced a partnership with YourMechanic, a leading automotive mobile maintenance and repair services provider that brings vehicle care directly to customers’ homes, offices or lots. The fleet company said in a news release that the partnership has enabled Merchants Fleet […] [Read More]

DAA Northwest and the McConkey Auction Group are going digital with their annual Rock & Roll Sale. This year, which is the 25th anniversary of the auction’s signature event, the festivities include a series of simulcast-only sales event and a virtual concert performance from The Cronkites on the roof of DAANW’s auction arena. Initially, rock […] [Read More]

On Tuesday, IAA made its third move during the past two weeks in connection with its operations in the United Kingdom. The newest action is connected with IAA announcing that its U.K.-based business unit has completed the roll-out of IAA Buyer Portal, a new purpose-built and exclusive digital auction site designed to offer buyers an […] [Read More]

KAR Global announced three leadership promotions across its wholesale-market enterprise on Tuesday morning. The new appointments include Mike Caggiano as executive vice president of U.S. operations at ADESA, Scott Meyer as vice president of reconditioning services and finance at ADESA, and Richard Carpentier as head of inspection solutions at KAR Global. In explaining the moves, […] [Read More]

ACV Auctions has reeled off two straight months of best-ever sales for the digital auto marketplace, while also notching several other milestones in June. In May, ACV sold 31,350 of 45,000 unique wholesale units listed, then followed that up by selling 40,242 of 53,000 units in June. “It’s now apparent that the shift to digital […] [Read More]

In this episode of the Auto Remarketing Podcast, Cherokee Media Group president Bill Zadeits chats with Copart vice president and head of marketing Michelle Hoffman and Yoker Vidal, who is the senior director for Copart's non-insurance division. They discuss how being online for 17 years helped the company once COVID-19 hit and how Copart has […] [Read More]

Auction Academy is carrying on with its training program, but participants will be relegated to computer screens for the remainder of the year. Auction Academy president Penny Wanna announced on Monday that its current Class 6 Group will gather via a virtual classroom. Furthermore, the group’s previously scheduled quarterly meetings for 2020 are being replaced […] [Read More]

The Advantage Rent a Car bankruptcy gave SIXT a chance to enhance its U.S. footprint for renting its premium fleet of vehicles. According to a news release distributed just before the holiday weekend, a Delaware bankruptcy court approved SIXT taking over 10 airport branches in the United States from Advantage Rent a Car. Starting most […] [Read More]