In 1945, World War II came to an end, kicking off an era of economic expansion in the United States that would eventually include the auto industry. That same year, a one-lane auto auction opened in southern Pennsylvania. Less than 15 years later, with the auto industry humming along, Manheim Auto Auction was the world’s […] [Read More]

In light of the COVID-19 coronavirus outbreak, KAR Global is taking a precautionary measure, announcing a temporary air travel restriction for its employees through March 31. In a news release, KAR stressed that this temporary measure is a proactive one, and “not in response to any heightened or specific threat of exposure or spread of […] [Read More]

Black Book made three executive promotions on Monday, broadening the leadership roles of Alex Yurchenko, Laura Wehunt and Kyle Luck. Meanwhile, Anil Goyal, who had been Black Book’s executive vice president of operations, announced via LinkedIn on Sunday that he was returning to Corserv Solutions as its president. Goyal was a co-founder of Corserv and […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from NADA Show 2020, EBlock and EDealer CEO Jason McClenahan explains how digital and brick-and-mortar can complement each other in the wholesale marketplace. Plus, McClenahan shares an update on the integration between EBlock and remarketing technology provider Auction Edge, which gives independent auctions an avenue into […] [Read More]

Tom Kontos succinctly summarized his opinion about how the wholesale market behaved to begin 2020. “The new year started with a bang as wholesale used vehicle prices were up on both a month-over-month and year-over-year basis in January,” the KAR Global chief economist said in his latest installment of the Kontos Kommentary. “Just as in […] [Read More]

For used-car managers who watch for a sharp wholesale price jump in sporty cars as a sure tell that the spring market is taking hold now have confirmation thanks to the newest Black Book Market Insights report. Black Book reported that values for sporty cars increased 0.38% percent this past week, mirroring the rise generated […] [Read More]

Integrated Auction Solutions president John Lilly says digital wholesaling “is no doubt the future.” “But we believe the first step is optimizing an auto auction’s internal processes, workflows, and financial reporting,” Lilly said in a news release. With that in mind, the company launched AuctionMaster, its next generation wholesale auto auction management system, at Northern […] [Read More]

ADESA president John Hammer says that although the majority of the company’s sales occur online and through its apps, its customers still experience a strong need for the facilities and services at its auction sites. “Promoting high-quality, internal candidates into leadership positions at our physical auction locations provides smooth transitions and sets the stage for […] [Read More]

Eric Autenrieth says ServNet’s participation in support of The Hourglass Foundation is two-fold. Autenrieth, who is chairman of the board for ServNet, said that across the United States, ServNet auction locations make cash donations to the foundation’s scholarship program for every Flexco vehicle sold at auction. ServNet has joined with remarketing partner Flexco Fleet Services […] [Read More]

Peter Mogk has strong feelings in favor of the independent auto auction business. “It’s extraordinarily exciting to be on the ground on auction days when vehicles are rolling, and guys are bidding,” said Mogk, who is senior partner for private equity firm Huron Capital. In his early days out of college, Mogk was a trader […] [Read More]