Wholesale
ACERTUS now exclusive transportation provider for CarOffer
Monday, Oct. 12, 2020, 05:43 PM
Auto Remarketing Staff
Instant wholesale vehicle trading platform CarOffer has named automotive logistics and services company ACERTUS as its exclusive transportation provider, stating that ACERTUS will support CarOffer’s mission to help dealers trade, source, purchase and move used inventory faster. ACERTUS executive vice president of global operations Jeremy Cope said in a news release that his company appreciates […] [Read More]
IAA tower dispatch process automation system wins patent
Friday, Oct. 9, 2020, 08:16 PM
Auto Remarketing Staff
The U.S. Patent and Trademark Office awarded a patent to global digital marketplace IAA for an “Automatic Dispatch System for Tow Service Providers,” and IAA said the technology “streamlines the recovery process for total loss vehicles.” IAA filed for the patent in May, and it was approved in August. The patent, under U.S. Patent No. […] [Read More]
Retrospective: Early days of simulcast auto auctions
Friday, Oct. 9, 2020, 03:51 PM
Joe Overby, Senior Editor
Particularly in the COVID-19 era, the importance and growing presence of simulcast auction sales cannot be overstated. From corporate giants to independents, the ability to simulcast is a necessity in the tool belt of an auto auction. Digital-leaning wholesale may now be ubiquitous, but it has been years — decades, even — in the making. […] [Read More]
Potential catch for dealers regarding projected growth of off-lease volume
Thursday, Oct. 8, 2020, 02:21 PM
Auto Remarketing Staff
Experian’s closing installment of its State of the Automotive Finance Market report for 2018 indicated vehicles with the highest market share for new-model leasing included SUVs like the Chevrolet Equinox, Toyota RAV4, Nissan Rogue and Jeep Grand Cherokee as well as Honda’s popular sedans, the Civic and Accord. Those particular vehicles could be part of […] [Read More]
Streak of record wholesale vehicle prices end, but values remain strong
Wednesday, Oct. 7, 2020, 06:09 PM
Joe Overby, Senior Editor
During Wednesday’s quarterly Manheim Used Vehicle Value index call with the industry, Cox Automotive chief economist Jonathan Smoke began his opening comments with this update. "On this call, we find the industry and used-vehicle values having performed very strongly in the last quarter, but September marked an important change," Smoke said. For one, that change involved […] [Read More]
Copart names new COO, among other C-level executives
Tuesday, Oct. 6, 2020, 08:39 PM
Auto Remarketing Staff
Copart has made a trio of senior leadership moves this week, including naming a new chief operating officer, chief marketing and product officer and chief financial officer. Starting with the new COO to replace the recently retired Sean Eldridge, appointed to that position was Steve Powers, who had been the company’s Eastern Division vice president […] [Read More]
Lane watch: Wholesale atmosphere improves for independent dealerships
Tuesday, Oct. 6, 2020, 08:03 PM
Auto Remarketing Staff
Fall’s arrival appears to be bringing welcomed relief for independent dealerships looking to build their inventory. Black Book explained why through its latest COVID-19 Market Insights released on Tuesday. Analysts recapped in the report, “This past week, we saw more independents being the successful bidder. This is a welcome sight as we’ve talked to so […] [Read More]
KAR honors employees for ‘giving back, doing good’
Tuesday, Oct. 6, 2020, 06:58 PM
Auto Remarketing Staff
KAR Global employee Jenny White has volunteered as a sponsor and advocate with Compassion International, making five trips to Uganda and “forging and making connections with children that will last a lifetime,” according to KAR. Because of that work, KAR recognized White during the annual Jefferson Awards ceremony, which honors community volunteerism. The awards are […] [Read More]
Showing rapid growth, ACV appoints new board members
Tuesday, Oct. 6, 2020, 05:59 PM
Auto Remarketing Staff
As it invests further into strategic growth areas, ACV Auctions has appointed three new independent members to its board of directors. Those new board members each offer decades of experience from their respective industries, according to ACV. That can “enrich ACV’s perspective in key growth areas from transportation and capital to product innovation,” the company […] [Read More]
16 additional Manheim auctions resume in-lane bidding via Digital Block
Monday, Oct. 5, 2020, 03:28 PM
Auto Remarketing Staff
More than 70 Manheim locations have now returned to in-lane bidding via Digital Block sales, as more than a dozen have been added back in the past two weeks. That includes four resuming in-lane sales this week: Manheim Georgia, Manheim Atlanta, Manheim New Mexico and Manheim Birmingham. In the past two weeks, these auctions have […] [Read More]
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