With Cox Automotive continuing to emphasize digitization in both wholesale and retail and aiming to connect its digital offerings across the company’s brands, it has appointed Derek Hansen — previously the Manheim vice president of offsite solutions — to a role leading the Stockwave and iRecon teams at vAuto. Meantime, it has added Connie Suozzo and Blake […] [Read More]

Black Book analysts made the connection of how federal stimulus payments and enhanced unemployment benefits given during April and May combined with limited used-vehicle inventory combined to create the highest weekly appreciation “in recent history.” According to Black Book’s newest COVID-19 Market Update released on Tuesday, overall car and truck segments values both generated gains […] [Read More]

UPDATED with new timing on second round of pilots.  Manheim is piloting the return of in-lane bidding at five of its auctions this week, with three more set to follow soon, a company spokesperson told Auto Remarketing via email. The first of these sales is at Manheim Dallas on Tuesday. Others that will pilot in-lane […] [Read More]

Auto auctions sold slightly fewer cars last year, but the gross value of those sales was up more than 3% and topped $111 billion, according to the National Auto Auction Association’s 23rd annual survey, which was released Friday. NAAA-member auctions sold 9.8 million vehicles in 2019, which was down 1.1% year-over-year.  But the total value […] [Read More]

After strong improvements in May, look for a gradual rebound in auction prices during the back half of 2020, says J.D. Power Valuation Services, which released its monthly Guidelines Plus report on the used market on Thursday. The J.D. Power Used Vehicle Price Index was at 113.2 for May, up 8.3% month-over-month. “Wholesale auction prices […] [Read More]

The National Auto Auction Association named its two newest Warren Young Fellows on Friday; an honor that recognizes their noteworthy contributions to NAAA's auction safety initiatives. The latest two wholesale executives to be given this accolade are Tim Massingale, KAR remarketing services vice president of environmental safety and health, and Mike Roy, vice president of […] [Read More]

Less than a week after enhancing its presence in five markets, IAA on Wednesday announced branch capacity expansions across four more key markets in Florida, New York, Alabama and Montana. IAA highlighted these expansions increase inventory storage capacity in total acres by more than 50% across the four branches in the markets of Miami (Florida), […] [Read More]

McConkey Auction Group (MAG) now has a single online home. On Tuesday, the company announced the launch of MAGauctions.com — a website that includes all segments of its wholesale auction businesses. Prior to its development and Friday’s deployment, the company had separate websites for DAA Northwest, DAA Seattle and its motorsports division. MAG highlighted that […] [Read More]

The volume of off-rental vehicles making its way into the wholesale market in 2020 is expected to be 250,000 higher than forecasted pre-pandemic, according to Black Book, which said in last week’s COVID-19 Market Updates report that rental companies are likely to shed units from their fleets in the back half of the year to align with […] [Read More]

Mark Gibson and Brian Bruce, founders of 1 Click Auto Auction, join the Auto Remarketing Podcast to discuss what prompted them to launch the company, which allows car dealers to buy and sell vehicles through an app. 1 Click Auto Auction made its debut earlier this month in Central Texas and has plans to expand […] [Read More]