KAR Global chief economist Tom Kontos returned to the Auto Remarketing Podcast to discuss how much off-rental units might impact wholesale volume and pricing as turbulent 2020 continues. Kontos also touched on other factors that he and his team are watching that could influence both the wholesale and retail markets going forward. To listen to this […] [Read More]

Steve Jordan, the longtime chief executive of the National Independent Automobile Dealers Association, is joining KAR Global next month as its executive vice president of dealer sales. KAR made the announcement Monday morning. Jordan has been with NIADA for 11 years and its CEO for the past seven. NIADA announced Friday that Jordan had resigned […] [Read More]

J.D. Power’s analytical horsepower is about to get much stronger. Late Thursday afternoon, TrueCar announced that it has entered into an agreement with J.D. Power to sell its ALG subsidiary for $135 million. According to TrueCar’s news release, the total consideration includes an upfront cash payment of $112.5 million at closing and total deferred payments […] [Read More]

While the acceleration of wholesale prices moving higher dipped a bit, Black Book indicated dealerships with the most robust financial resources continue to have the best opportunity to secure used-vehicle inventory during the coronavirus pandemic. Black Book specifically mentioned large operations such as CarMax and Carvana showing their “dominance in the lanes” as analysts released […] [Read More]

Records continue to tumble in the wholesale market. Black Book reported on Monday that the month-over-month increase of its Used Vehicle Retention Index established another record as the July reading came in at 126.0, representing a 10.9-point lift from the June level of 115.1. “July’s growth in the Retention Index broke the month-over-month increase record […] [Read More]

While this year’s event didn’t feature Weezer, Michael McDonald or John Fogerty, DAA Northwest still successfully orchestrated its summertime promotion — the Rock & Roll Sale — albeit in an all-digital fashion. The event took place on July 22 and July 23 with the traditional series of segments, including a national accounts sale and an […] [Read More]

For this episode of the Auto Remarketing Podcast, we turn to the commercial consignor community. Chatting with Cherokee Media Group president Bill Zadeits this week is Paul Seger, who is executive vice president of asset remarketing at Element Fleet and president of the International Automotive Remarketers Alliance. To listen to this episode, click on the link […] [Read More]

Within days of announcing plans to change leadership at the top of the company, Cox Automotive also is making significant adjustments to other parts of its North American workforce. According to an update from a Cox Automotive spokesperson sent on Auto Remarketing on Thursday, the company eliminated approximately 1,600 positions across the United States and […] [Read More]

ADESA utilized its Simulcast+ digital auction platform last week to host a 22-site online sale on behalf of The Hertz Corp., selling cars digitally to buyers in 19 states during this single digital auction event. The Simulcast+ platform, which ADESA first began using in April, is a new digital auction platform designed to simulate a […] [Read More]

There’s a new general manager at Greater Milwaukee Auto Auction. It was announced earlier this week that hired for the role is Veronica Kireem, whose 25 years in automotive has included time in corporate, dealership and auction roles. That experience also includes leadership posts in new-vehicle sales, licensing and finance. “Her background and leadership abilities […] [Read More]