ACV Auctions says its rapid U.S. growth continues, with west expansion from Texas to California proceeding ahead of plan. The company has doubled its Texas footprint in one year. To keep pace with that growth, the company says it is placing top talent on its roster, and on Tuesday ACV announced it has hired Doug […] [Read More]

While wholesale prices for cars and trucks edged lower, Black Book’s latest Market Insights report contained details to refute the notion that it’s a soft September in the auction lanes. In fact, Black Book executive vice president of operations Anil Goyal said, “Used-vehicle prices declined slightly last week, although the used market remains relatively strong […] [Read More]

IAA’s expansion of its Indianapolis branch brings the facility to more than 70 acres of capacity, said IAA chief executive officer and president John Kett. IAA said that through its investment, the branch will see greater ability to serve new customer demand in Indianapolis and the surrounding metropolitan area. “We will continue to make strategic investments […] [Read More]

KAR Auction Services chief legal officer and corporate secretary Becca Polak, who is also the president of the company’s TradeRev business unit, has submitted a notice of resignation from KAR, the company said in a statement Monday. KAR general counsel Chuck Coleman will take on responsibilities of corporate secretary while remaining in the general counsel […] [Read More]

Peter Kelly says OPENLANE, a business unit of KAR Auction Services, is celebrating its 20th anniversary and sharing its success by helping the cause of the United Food Bank of Mesa, Ariz. “We’re honored to commemorate our landmark anniversary and share our success by contributing to their efforts to alleviate hunger and poverty,” said Kelly, […] [Read More]

There appeared to be a bit of a dichotomy in the wholesale vehicle market last month. The Manheim Used Vehicle Value Index reached a record high (141.3) and was up 1.2% year-over-year. Mix-, mileage- and seasonally adjusted, there was a 0.62% bump up in wholesale prices from July. But the comparison to last August is […] [Read More]

If your store can turn luxury cars quickly, your opportunity for decent gross might be at hand stemming from how wholesale prices for those high-line units are moving. The newest Black Book Market Insights report showed wholesale prices for luxury cars again softened at a much higher rate than the overall car reading. “Luxury-segment declines […] [Read More]

Dealer credentialing services provider AuctionACCESS describes itself as “a dealer’s key to the wholesale marketplace.” Now, AuctionACCESS says it is strengthening its commitment to independent dealers through a new alliance with the National Independent Automobile Dealers Association. AuctionACCESS is now a Bronze-level national corporate partner of NIADA. “We will continue to work with NIADA members […] [Read More]

Manheim has launched two new features to its Manheim Express app, one of which will allow dealers to manage offers directly within the Manheim Express app. Manheim wants the Manheim Express buyer experience to help dealers make fast but confident purchasing decisions, said vice president of offsite solutions Derek Hansen. “And we continue to up […] [Read More]

Experian’s latest quarterly data report again mentioned how consumer affordability is impacting auto-finance metrics. And consumer affordability also impacted Black Book’s Used Vehicle Retention Index for August. This week, analysts released their latest index reading, which showed that August posted a 1.4% lift on a sequential basis. The index came in at 116.6, up from […] [Read More]