Uneven floors aren’t good for a house as far as its construction or current state. And uneven floors potentially are causing some issues for dealers at the auction, too, as mentioned in the latest COVID-19 Market Insights from Black Book. Black Book reported the continued seasonal decline in values for both cars and trucks, while […] [Read More]

“I think I was born to play the drums,” Tom Kontos says in a mid-October phone interview. Long before the KAR Global chief economist was crunching numbers and dispensing auction market analysis, he was taking his mom’s silverware and tapping on tables as a child. Or, to the chagrin of his teachers, turning a rhythm […] [Read More]

Former KAR Global executive and TradeRev president Becca Polak has joined CarLotz as its first chief commercial officer and general counsel. Polak joins the senior management team at CarLotz, which recently announced plans to go public through a merger with special purpose acquisition company Acamar Partners Acquisition Corp.  She reports to co-founder and chief executive […] [Read More]

XLerate Group Auctions’ Charleston Auto Auction in South Carolina has hired a former ADESA national specialty and mobile manager as its new specialty sales/fleet lease remarketer. The new hire is Andy Shaffer, and XLerate said he brings extensive knowledge of the specialty and auto remarketing industry. Charleston Auto Auction general manager Laura Taylor said Charleston is […] [Read More]

Despite challenges that included lower volumes, KAR Global made some big strides in the third quarter, including some progress in its TradeRev business unit, amid a wholesale marketplace that remains largely digital within the company. Revenue came in at $593.6 million for Q3, down from $701.9 million a year ago. But KAR generated $47.1 million in […] [Read More]

There was a 15.4% year-over-year spike in the Manheim Used Vehicle Value Index in October, continuing a string of wholesale price growth from 2019. Prices were up 0.47% from September on a mix-, mileage- and seasonally adjusted basis, bringing the index to 161.9. “The non-seasonally adjusted monthly change was -1.9%, which was more in line […] [Read More]

Manheim is piloting the return of running vehicles through auction lanes. The company announced Thursday afternoon that it will begin this pilot Tuesday at Manheim Nashville, with Manheim Daytona Beach to follow suite Wednesday. Manheim said in a news release that it arrived at this decision, “after the company became more confident with its phased-in, […] [Read More]

As part of Auto Remarketing's 2020 Best Auto Auctions to Work For program, we are featuring Q&As with leaders from some of the honorees.  Next up is Michael Waterman, chief sales officer at ACV Auctions, one of this year's honorees.  That Q&A, available to CMG Premium subscribers, can be found below. Auto Remarketing: Workplace safety has been a […] [Read More]

Dealerships began November coming off a month of softer retail demand, but Black Book said most dealers are reporting it as typical seasonal softening. Black Book also mentioned that retail inventory levels currently sit about 12% lower than the start of the year. With prices cooling like the weather, are dealers stocking up on units […] [Read More]

During her first year on the job in 2007 as a cashier and telemarketer for America’s Auto Auction Greenville, Mechelle Montgomery was talking to customers about an upcoming sale. One day, a company vice president was in the office and observed her on the job. The vice president told, her, “You keep that up, and […] [Read More]