Manheim has created a new vice president of industry partnerships position, and filling that role is a longtime company leader who is next in line to be president of a trade group that Manheim will continue to work with through this position. Named to the post is Julie Picard, who will be the National Auto Auction […] [Read More]

Autumns have been atypical in the auction lanes in recent years with wholesale prices behaving in ways not usually seen. Well, this fall has returned to more traditional patterns, according to the latest Black Book Market Insights report. In fact, Black Book executive vice president of operations Anil Goyal said, “Truck segments declined more than […] [Read More]

 When KAR Global spun off its Insurance Auto Auction business this year, that was about 35% to 40% of its total business. “We’ve become a much smaller company,” said Jim Hallett, who is chairman and chief executive officer of KAR Global. “We have to continue to look for ways to take costs out of this […] [Read More]

ACV Auctions said it has secured $150 million in Series E funding, noting that the new capital will go toward ACV Auctions’ investment in technology and data-driven products that it says will help dealerships source and sell used vehicles. Wellington Management Company and Fidelity Management & Research Co. led the investment in ACV Auctions, a […] [Read More]

Certified wholesale vehicles sell faster and at rates 4 to 8% higher than their uncertified counterparts, according to a recent white paper from Manheim Consulting. The paper, titled, “Certification Impact on Low Grade & High Mileage Units,” also showed that certification can mean one-third fewer arbitrations. According to the white paper, the benefits and returns of […] [Read More]

The Manheim Used Vehicle Value Index did something in October that Cox Automotive analysts determined the wholesale market metric had not done in 33 months. For the first time since January 2017, the index posted a year-over-year decline. Manheim determined wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 0.29% month-over-month in […] [Read More]

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]