The last time Black Book saw a weekly wholesale price decline this significant, individuals might have still had their New Year’s resolutions top of mind. And decreases might intensify as Black Book’s newest Market Insights report showed declines for both cars and trucks at much higher levels than the previous four-week averages. “Used-vehicle values experienced […] [Read More]

One of the leading companies in the fast-growing and disruptive online auto auction space could see its valuation climb above $1 billion. According to a Reuters report on Friday, ACV Auctions has filed for a Series E round of funding, where it aims to raise $150 million. That round, Reuters reported, would lead to ACV […] [Read More]

Manheim Digital vice president Zach Hallowell, who is the closing keynote speaker at Used Car Week's National Remarketing Conference, sat down with senior editor Joe Overby at the recent NAAA Convention in Indianapolis for an episode of the Auto Remarketing Podcast.  In the conversation, Hallowell shares how he sees the role of the brick-and-mortar auto auction […] [Read More]

As vice president of commercial sales for Manheim since 2017, Holly Capps developed and executed a sales strategy that Cox Automotive says brought in almost $2 billion in annual revenue. The company said she grew business with key strategic clients. On Monday, the company announced it has promoted Capps to senior vice president of Manheim […] [Read More]

After discussions and negotiations that spanned “several years,” Columbus Fair Auto Auction (CFAA) became part of the XLerate Group on Friday afternoon. During a phone conversation with Auto Remarketing just a couple of hours after the acquisition closed, XLerate chief executive officer Cam Hitchcock conveyed a message to customers of CFAA, an auction that’s been […] [Read More]

Sometimes when a service provider develops new technologies or processes, the firm must make a host of adjustments between a pilot program and when the solution or offering is officially launched into the market. For IAA’s newest offering that germinated through a partnership with SpinCar, IAA chief executive officer and president John Kett told Auto […] [Read More]

ServNet auction owners gathered for their fall business meeting earlier this month in Dallas, and in the process decided on the leader who will be its president for the next two years. Taking on the role of president is Bruce Beam, general manager of Dealers Auto Auction of Oklahoma City. Beam succeeds Eric Autenrieth of […] [Read More]

United Road used the acquisition route to expand its operations on Monday. United Road, in partnership with its owners, The Carlyle Group, and other investors, announced the acquisition of Team Drive-Away (TDA) and its affiliates Driveaway USA and Fr8 Management from CID Capital. Based in Olathe, Kan., TDA is a national non-asset-based commercial vehicle logistics […] [Read More]

Two wholesale market trends are continuing to gain momentum, according to the latest Black Book Market Insights report. Analysts pinpointed the momentum’s source: Dealers are passing on a growing number of vehicles in the lanes, and it's pressuring prices to soften. “Values of car and truck segments declined at a similar rate last week. The […] [Read More]

As one of its divisions celebrates its 20th anniversary of operations, KAR Global welcomed three additions to its board of directors in an effort to expand diversity and cross-industry expertise. The newest board members include Stefan Jacoby, David DiDomenico and Mary Ellen Smith. KAR Global highlighted Jacoby has more than 30 years of automotive industry […] [Read More]