Auction Academy is carrying on with its training program, but participants will be relegated to computer screens for the remainder of the year. Auction Academy president Penny Wanna announced on Monday that its current Class 6 Group will gather via a virtual classroom. Furthermore, the group’s previously scheduled quarterly meetings for 2020 are being replaced […] [Read More]

The Advantage Rent a Car bankruptcy gave SIXT a chance to enhance its U.S. footprint for renting its premium fleet of vehicles. According to a news release distributed just before the holiday weekend, a Delaware bankruptcy court approved SIXT taking over 10 airport branches in the United States from Advantage Rent a Car. Starting most […] [Read More]

Twelve additional Manheim auctions will begin piloting the return of in-lane bidding this week, following the company’s initial pilot run at five locations. Dealers at the pilot locations are able to bid in-lane through Digital Block sales, which include in-lane bidding on site at Manheim auctions with a live auctioneer and simulcast. Vehicles remain stationary […] [Read More]

When you think of Carvana, you probably think of digital retail (and rightly so).  But the online used-car marketplace made a move last month that “lays the path for us to also be the leading online wholesaler,” says Scott Wood, the company’s senior director of wholesale operations. In late June, Carvana announced that through a […] [Read More]

When it comes to supply entering the wholesale market, look for that to be “higher than expected” the remainder of the year, Black Book said in its weekly COVID-19 Market Update released Tuesday. But such high supply could be mitigated by strong retail demand, according to another analysis from J.D Power. Driving the expectation for […] [Read More]

Wholesale-price increases accelerated as June and likely the most tumultuous second quarter in anyone’s memory neared an end. How long the fuel for that wholesale-price climb will last is almost as challenging to project as when the coronavirus pandemic will stop influencing the auction and dealership worlds. Black Book, Cox Automotive and J.D. Power Valuation […] [Read More]

The first half of 2020 has been mired with challenges in the wholesale car market, but one particularly positive trend has emerged at the tail end of the of second quarter. Auction sales volume have made a strong comeback and are now at or above year-ago figures, according to industry analyses. In its weekly COVID-19 […] [Read More]

Two members of the Dealers Auto Auction Group are expanding, including one auction that is building a brand-new facility. The group announced that Dealers Auto Auction of Memphis is building an all-new, six-lane facility on 100 acres in Eads, Tenn., while Dealers Auto Auction of Mobile is adding more acreage, offices and lanes to its […] [Read More]

Two well-known names within the used-vehicle space — Mike Stanton and Tim West — each recently were given industry accolades for their service. West received the Ed Bobit Industry Icon Award, and the National Auto Auction Association named Stanton as its newest Warren Young Fellow. For West, Black Book’s longtime vice president of North American […] [Read More]

IAA reinforced its international operations in a pair of ways this week. First, Impact Auto Auction, the Canadian business unit of IAA announced the availability of Impact 360 View, what the company described as an innovative imaging technology that can allow online vehicle buyers a 360-dgree viewing experience of a vehicle’s exterior and interior. Then, […] [Read More]