Economic conditions, compliance and how the auction industry embraces digital selling, are wholesale trends on the watch lists of some economists, analysts and auction professionals, many of whom attended Used Car Week, Nov. 11-14, in Las Vegas. In separate interviews, Tom Kontos, chief economist at KAR Global, and Charlie Chesbrough, senior economist at Cox Automotive, […] [Read More]

A surge in retail activity to close 2019 created a lift in wholesale prices in December, according to the analyst team at Cox Automotive. Those analysts noticed that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 1.54% month-over-month in December. That movement brought the Manheim Used Vehicle Value Index to 141.1, […] [Read More]

It appears 2020 began with light activity in the lanes and wholesale prices adjusting in ways Black Book considers normal for the opening days of the year. Black Book’s latest Market Insights report showed values for both cars and trucks softened at a much lower level than what analysts noticed during the previous four weeks. […] [Read More]

As the new vice president of Manheim Logistics, Joe Kichler will oversee business strategy and operations for the company’s leading logistics brands. Those brands are Ready Logistics and Central Dispatch. Ready Logistics is a full-service transportation service, and Central Dispatch is a self-managed transportation service. Manheim says that together, those brands offer transportation services that […] [Read More]

Independent auctions can now take their own slice of the dealer-to-dealer auction market. That’s thanks to a partnership and exclusive integration between online auction EBlock and remarketing technology provider Auction Edge announced Tuesday. The partnership between Auction Edge and EBlock begins this month with the McConkey Auction Group, which through the integration of the technologies […] [Read More]

Dealer Tire said Monday it has entered a deal to buy reconditioning service and vehicle protection product provider Dent Wizard from Gridiron Capital. The transaction would result in what Dealer Tire called the “leading aftersales dealer services platform in North America.” “The combination of Dent Wizard’s reconditioning capabilities and Dealer Tire’s service lane presence offers greater […] [Read More]

Black Book picked out a pair of trends from its newest Used Vehicle Retention Index that might impact how you shape your dealership inventory during the opening stages of 2020. Analysts on Monday released the December index reading, which came in at 113.3, representing a 0.7-point dip from November when it stood at 114.0. Black […] [Read More]

XLerate Group Auctions’ Charleston Auto Auction in Moncks Corner, S.C., has hired Nichole Brannon as executive sales director, noting that Brannon brings 13 years of auto remarketing industry expertise. Brannon was previously senior manager of client services for Manheim Darlington, overseeing the auction’s client-facing departments. “Her practical knowledge of auctions and affinity for customer service relationships […] [Read More]

ACV Auctions said Tuesday it has purchased vehicle accident inspection provider TrueFrame, a move that adds retail inspections to ACV’s offerings. TrueFrame is the provider of the True360 vehicle inspections, which aim to provide dealers and consumers more context when they’re buying used vehicles. These reports publish on CARFAX and AutoCheck vehicle history reports and […] [Read More]

During Used Car Week last month in Las Vegas, senior editor Joe Overby talks with Doug Hadden of ACV Auctions about his presentation on "The Digital Lane: More Opportunity in Less Time," his relatively new role with the company, the changing nature of wholesale automotive and more. To listen to this episode, click on the […] [Read More]