National Auto Auction Association president Eric Autenrieth is looking forward to the session on artificial intelligence at the upcoming 2024 World Remarketing Convention in Orlando, Fla. Autenrieth said his company, the Stanley-Autenrieth Auction Group, has not yet started using artificial intelligence in its operations. “But we have certainly investigated and have kept our eyes open to [Read More]

Well, you can say this about the wholesale market. It’s usually not boring for active buyers, sellers and observers. With children back in school and football season set to begin in earnest, Black Book spotted more intriguing trends on Tuesday to keep consignors and dealers educated so they can celebrate in the retail end zone. […] [Read More]

RB Global, a global marketplace for commercial assets and vehicles and parent company of IAA, has appointed Steve Lewis as chief operating officer, effective Sept. 3. The company said Lewis brings “a honed approach to driving business growth through operational excellence” and extensive senior leadership experience in operations and supply chain management. “Steve has a […] [Read More]

The past two years, starting with its 2022 acquisition of ADESA’s U.S. auto auctions, have arguably been the most transformative in Carvana’s history. But to understand where the online used-car retailer is now and its potential growth trajectory, one must look at what Carvana was doing in the years immediately prior to that acquisition. What was the online retailer up to? [Read More]

Hertz Global Holdings has added two new members to its board of directors. Frank Blake and Lucy Clark Dougherty bring impressive backgrounds to the rental car giant. Blake is the retired chairman and CEO of The Home Depot whose resume also includes roles as non-executive chairman of Delta Air Lines, deputy secretary of the U.S. […] [Read More]

Montway Auto Transport is stepping up its commitment to fighting hunger. The third-party logistics brokerage has increased its involvement with Move For Hunger, providing 120,000 meals to communities in need in 2024. Montway said it has provided nearly 700,000 meals through various support and food drives since it began working with the organization. “Partnering with […] [Read More]

It’s an M&A summer for America’s Group. The parent company of America’s Auto Auction and AXLE Funding has made its fourth acquisition since June, announcing Tuesday that it has purchased Z66 Tulsa Auto Auction. After expanding on the East Coast by adding Motley’s Richmond Auto Auction earlier this month, America’s Group’s purchase of the Oklahoma […] [Read More]

OPENLANE’s investments in technology and customer-centric enhancements aimed at making it easier for buyers and sellers do business on its wholesale used-vehicle digital platform are paying off — especially in its U.S. marketplace, said the company’s CEO, Peter Kelly. The company grew its overall marketplace segment volume by 24,000 vehicles (or 7%) and its marketplace revenue increased 5% to $336 million in the quarter that ended June 30 when compared to the year-ago quarter, said Kelly during OPENLANE’s second quarter earnings call on Aug. 7. OPENLANE’s overall marketplace segment ... [Read More]

Motus, a provider of vehicle reimbursement and risk mitigation services, has joined with Flexco Fleet Services in a strategic partnership designed to support businesses in transitioning from company-owned fleet vehicles to reimbursing employees for the business use of their personal vehicles. In a news release, Motus said the collaboration will add to its onboarding services […] [Read More]

There’s an element of change at the top of one of the world’s largest automotive fleet management companies. Element Fleet Management announced two leadership transitions in its executive team, with chief operating officer and 20-plus-year company veteran Jim Halliday assuming the role of vice chair and Ian Oncea is moving up to replace Halliday as […] [Read More]