Just like finance companies are working with consumers about modifications to their vehicle installment contracts, Hertz secured similar considerations since the travel industry is nearly nonexistent because of the coronavirus pandemic. According to a filing with the Securities and Exchange Commission posted on Monday, Hertz acknowledged that it did not make certain payments in accordance […] [Read More]

Perhaps some used-car managers filled a void left with no live sports to watch on television with observing activity during online sales. The newest Black Book Market Insights report released on Tuesday indicated managers aren’t just watching; they’re starting to bid and buy a bit more, too. Black Book vice president of automotive valuations Laura […] [Read More]

The International Automotive Remarketers Alliance is beginning a three-part informational webinar series on Friday titled, “IARA Road to Recovery 2020.” The opening segment is scheduled to feature KAR Global chief economist Tom Kontos and Cox Automotive chief economist Jonathan Smoke, who plan to discuss six topics, including: • Status of the COVID-19 pandemic and the […] [Read More]

Wholesale auction sales for the week ending April 26 marked the third consecutive sequential gain, according to J.D. Power Valuation Services, which also said sales for that period  were over twice as strong as the tally from the market’s worst week. The firm said in its COVID-19 Valuation Services Update released Thursday that there were 39,700 […] [Read More]

Wholesale-price analysis and projections from Black Book, Cox Automotive and J.D. Power Valuation Services contained a variety of encouraging assessments about the trajectory of this vehicle metric. Beginning with the latest update from J.D. Power Valuation Services, analysts there said wholesale auction prices ticked up by a little more than 1% on a weekly comparison […] [Read More]

Cherokee Media Group president Bill Zadeits is back on the mic for this episode of the Auto Remarketing Podcast, where he chats with John Lilly, president of Integrated Auction Solutions. Bill talks with John about the company's recent investment from Summerset Group, how IAS is helping its customers weather the pandemic's storm and more. Plus, […] [Read More]

Cherokee Media Group hosted an educational webinar with vAuto almost a year ago, highlighting best practices for how dealers can prudently secure inventory online. The presenter for that webinar — vAuto director of used-car solutions Patrick Janes — recently joined Nick Zulovich for an episode of the Auto Remarketing Podcast to revisit some of those […] [Read More]

It’s not quite a celebration, but Black Book found a few reasons to be a bit upbeat when compiling its latest Market Insights report. While vehicle values still continued on a downward path, Black Book vice president of automotive valuations Laura Wehunt mentioned one part of the auction world that seems to be recovering. “After […] [Read More]

After the retirement of two of its “most accomplished and admired leaders” in early March, Manheim has promoted several of its veteran team members to Market Center leadership positions. The company promoted JD Daniels to vice president and general manager of the Manheim Orlando-Central Florida Market Center. Manheim also promoted Emily Decker to Arizona Market […] [Read More]

Auction sales volume is still extremely soft, but continues to improve, according to J.D. Power Valuation Services. And there are a number of other positive signs emerging in the auction community, says National Auto Auction Association chief executive officer Frank Hackett. During the week ending April 19, there were close to 28,000 sales of vehicles […] [Read More]