John Hammer, who is chief commercial officer of KAR Global and president of ADESA, and Steve Jordan, who is KAR's executive vice president of dealer sales, join the latest episode of the Auto Remarketing Podcast.  They talk with Auto Remarketing's Joe Overby about the digitization of wholesale, dealer-related projects KAR has in store and much […] [Read More]

Manheim said Monday it has added seven auctions in the Southeast to its Digital Block in-lane bidding program, meaning the company now has more than 50 locations in the program. The auctions added this week are all in Tennessee (Manheim Nashville) or Florida (Manheim Central Florida and Manheim Fort Myers, Manheim Pensacola, Manheim Daytona Beach, […] [Read More]

Tim West is nearing the final hammer of his professional career in the wholesale industry. Black Book announced on Monday that West, the company’s vice president and North American auction director, plans to retire at the end of the year after more than 36 years with the company. “Tim is a trusted colleague and one […] [Read More]

There were only so many specifics KAR Global’s executive leadership could provide, pending regulatory approvals, but a conference call Tuesday with the investment community offered a glimpse into the strategy behind KAR’s agreement to buy BacklotCars for $425 million and what the dealer-to-dealer online auction platform may bring to the company. First, the basics. KAR […] [Read More]

Wholesale vehicle prices are on quite a hot streak. The Manheim Used Vehicle Value Index climbed nearly 16% year-over-year in August and soared to a third straight record month. Specifically, the index was at 163.7 for the month, up 15.8% from August 2019. There was a 3.64% rise in wholesale prices (adjusted for mix, mileage […] [Read More]

KAR Global has reached a deal to purchase BacklotCars, an online dealer-to-dealer wholesale platform, for $425 million. KAR announced the definitive agreement Tuesday morning, and the purchase is subject to certain regulatory approvals and other customary closing conditions. Assuming those conditions are met, KAR expects the deal to close by the end of the year. […] [Read More]

Auction sales hit a bit of snag in the final full week of August, due in part to the impact of Hurricane Laura. According to the latest Used Market Update from J.D. Power, there were 73,000 auction sales of vehicles up to 8 years in age for the week ending Sunday (Aug. 30). That is […] [Read More]

Wholesale prices might have hit their apex in August, according to the team at Black Book. Analysts released their Used Vehicle Retention Index for August, which came in at a new high for the measurement at 129.0. That reading represented a 3.0-point rise from July, but Black Book isn’t expecting the climb to continue. “Wholesale […] [Read More]

Manheim has released three new enhancements to its digital marketplace, stating that as wholesale remains largely digital, the ability for dealers to buy and sell online with ease has never been more important. The company says those enhancements include significantly more images on vehicles checked in at a physical location, the opportunity to more easily […] [Read More]

America’s Auto Auction St. Louis general manager Todd Ritter says Zach Evans has used his experience to “help build and strengthen the fleet/lease accounts at America’s St. Louis.” Evans is fleet/lease manager at America’s Auto Auction’s St. Louis auction, and because of his work such as building fleet/lease accounts and meeting the challenges of doing […] [Read More]