Plug, which is an online wholesale auction platform exclusively for electric vehicles, said Tuesday it has secured $6.7 million in seed funding and launched an EV-focused trade-in solution for dealers. Starting with the funding, the round’s leaders were Floodgate, Autotech Ventures and A*. Also participating were Leap Forward Ventures, Renn Global, Cleo Capital, Toba Capital […] [Read More]

The basketball court wasn’t the only place for “madness” last month. With tariffs on the horizon and automotive uncertainty swirling, March produced a flurry of activity in the wholesale car market. The Trump administration’s 25% tariffs on imported vehicles — which became effective Thursday — led to “increased urgency” from consumers to buy new cars […] [Read More]

defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform, has named Manheim Pennsylvania as its 2024 Auction of the Year. In a news release, the company said Manheim Pennsylvania, along with rest of Manheim’s more than 100 locations and mobile auctions, “continues to achieve the highest standards of performance and customer service […] [Read More]

America’s Group has added its third auction in the Peach State, announcing Monday that it has acquired South Georgia Auto Auction in Albany. This continues a flurry of buy-sell activity for the auction company, which also announced purchases of Car-Tech Auto Auction in February and auction tech platform auctionVcommerce in January. The acquisition of Car-Tech […] [Read More]

Black Book said overall wholesale values didn’t accelerate higher as much last week as they did earlier in March. However, analysts said those gains are still above pre-pandemic levels of appreciation for this time of year. And then this week, the Trump administration implemented the 25% tariff on all imported vehicles into the U.S., prompting […] [Read More]

Auto transport and logistics provider Proficient Auto Logistics has acquired Brothers Auto Transport, a move the company said is intended to expand its fleet and base of drivers, and strengthen its presence in Northeastern markets. Brothers, founded in 1996 and based in Wind Gap, Pa., adds new OEM partnerships to Proficient’s portfolio and expands existing […] [Read More]

Another Megasite is on the way. Carvana announced its seventh combined auction/reconditioning/inspection facility will be opening soon at the ADESA New Jersey wholesale auction location in Manville, N.J. “By integrating Carvana reconditioning capabilities at ADESA New Jersey, we are using our existing infrastructure to drive new customer benefits while also increasing our total production capacity […] [Read More]

IAA is expanding its foothold in the Middle East. The global digital marketplace, which serves more than 170 nations, has launched a new market alliance with Nejoum Al Jazeera in the United Arab Emirates, parent company RB Global announced. “We are excited to expand IAA’s global footprint with the announcement of a new market alliance […] [Read More]

In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program, sponsored by Ally, has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week. For more than 15 years, Women in Remarketing has recognized excellence among the leaders of […] [Read More]

For its 80th anniversary, Manheim Pennsylvania went back to the ‘80s — and raised money for charity. Cox Automotive’s flagship auction held its 16th annual Xtreme Spring Sale event and fundraiser last week, highlighted by a 1980s-themed closing gala complete with a DeLorean, arcade games, a graffiti wall and plenty of big hair and acid-washed […] [Read More]