TPC Management Co. is hitting “re-set.” While remaining in his post at TPC, chief executive and co-founder Pierre Pons is stepping down from one of his other roles — that of being ServNet Auctions CEO — at the end of 2019 after 12 years at the helm. The move, essentially, gives Pons and his team the […] [Read More]

In 2001, a small group of vehicle consignors huddled to banter opinions on how to improve industry knowledge and market awareness. From that idea, the International Automotive Remarketers Alliance (IARA) came into being. For 2020, new challenges and opportunities face consignors, and the Alliance, which tags itself “The Voice of the Consignor,” is leaning into […] [Read More]

Like the other ancillary services in the dealership and auto auction world, vehicle inspections — along with condition reports, also discussed in this article — are among the blocking-and-tackling, meat-and-potatoes fundamentals that are vital to used-car ecosystem churning along. And it’s complex, says Eric Widmer of inspection company Alliance Inspection Management, better known as AiM. “It’s […] [Read More]

The times are changing in the auction and wholesale auto business, and Vince Kovatch says that ADESA continues focusing on offering multiple formats of reconditioning, “whether that car stays on our property and is sold through the lanes, or that car is sold upstream and is now residing on a dealer’s lot.” “The time you […] [Read More]

It may not be a universal concern nor observation, but where there’s smoke there’s fire, my father always said, so I’ll go on record stating logistics issues continue to frustrate remarketers and dealers. Shipment delays erode how fast vehicles can be wholesaled — and those assets resold and taken off the books — an issue […] [Read More]

America’s Auto Auction has purchased KCI Kansas City from the McConkey Auction Group, stretching its auction count to 23. The transaction, which was effective Nov. 1, is its second major purchase this year and continues a long line of expansion for the auction company. In March, America's Auto Auction bought Lynnway Auto Auction. It purchased West Michigan […] [Read More]

One of Black Book’s representatives stationed in the lanes put it this way: “Quite simply, the buyers were not in a buying mood.” As a result, analysts reported the highest weekly decline since January in the latest installment of the Black Book Market Insights. “The used market continues to be soft. Particularly, full-size pickups declined […] [Read More]

Black Book is seeing its Used Vehicle Retention Index return to a seasonal pattern. Analysts released their index reading for October on Monday, indicating that the newest observation came in at 115.6. That figure represented a 0.3% dip from September when it was 115.9. “In the last couple of years, the used-vehicle values held up […] [Read More]

Brett Woods, who is vice president of Assurance at Manheim, sat down with senior editor Joe Overby at the recent NAAA Convention in Indianapolis for an episode of the Auto Remarketing Podcast. They talked about the growth in services like post-sale inspections, condition reports, imaging and more, and the impact of digital remarketing in this field. Hear […] [Read More]

Steve Solomon spent the first decade of his career in the finance group at the former Chrysler Corporation, and a job in used-car pricing gave him his “first taste” of the auto-auction business. Solomon would go on to hold other finance roles within the fleet organization at Chrysler, but when an opportunity came up in […] [Read More]