Veteran dealers likely will say tax season isn’t what it used to be when some stores registered a significant portion of their annual retail sales fueled by refunds. Well, KAR Auction Services chief economist Tom Kontos explained that based on the May wholesale data he reviewed, this year’s tax season might have rekindled memories of […] [Read More]

CarLotz says that its team was nominated for the EY Entrepreneur of the Year 2019 Mid-Atlantic award because of its work in “driving the company’s growth trajectory.” At the same time, the team used vision and leadership to inspire others, the company said in a news release. That work was noticed as the company announced […] [Read More]

With wholesale prices softening as summer officially arrives this week, Black Book is noticing that dealer activity is rebounding a bit at the auction even if action at their showrooms is not at an optimum level. This week’s Market Insights report showed that values for both cars and trucks decreased at rates much above the […] [Read More]

Texas is one of the largest markets for Insurance Auto Auctions. The company continued its investment in the state with an announcement on Thursday that it has opened IAA Houston South. The new 125-acre-capacity location, which marks IAA’s third in the Houston metro area, is the 17th branch in the state for the company. IAA […] [Read More]

Sending zero waste to landfill by 2024. That’s a goal for Cox Enterprises, and the company also wants to be water/carbon neutral by 2044. Manheim San Francisco Bay, a Cox Enterprises company, has worked on several initiatives to reach those goals. Now, the City of Hayward, Calif., has recognized the company’s efforts. The auction has […] [Read More]

Remember Cash for Clunkers? J.D. Power Valuation Services does, and its May wholesale vehicle price data triggered memories of that federal government program to bolster sales of new, fuel-efficient models. Analysts shared in the latest installment of Guidelines that wholesale prices of used units up to 8 years in age declined by an average of […] [Read More]

Black Book’s lane watcher stationed at a sale in Pennsylvania succinctly summed up the dealer and wholesale price activity contained in the firm’s latest Market Insights report. The Keystone State representative said, “The auction is simply not as active as it was just a couple of weeks ago.” Editors noticed wholesale prices for both cars and […] [Read More]

Through a new partnership between Black Book and inventory procurement platform Drivably, Black Book’s automotive intelligence and vehicle valuation data are powering Drivably’s dealer inventory acquisition ecosystem. Black Book says that in helping dealers find the right inventory opportunities, Drivably bases its recommendations on criteria such as a dealer’s unique preferences, historical dealership performance data, […] [Read More]

In naming Tony Markese as vice president of reconditioning, Manheim says the move will help the company grow its reconditioning operations in preparation of digital and mobility sector growth. Markese, who was promoted to vice president, operational excellence for Manheim in 2012, will now have responsibility for determining the strategic direction of the company in […] [Read More]

When wholesale vehicle buyers feel they did not get what they pay for, they often must go through a cumbersome process to return the vehicle. With a new TradeRev pilot program, buyers can now return vehicles, with “no questions asked.” TradeRev, a business unit of KAR Auction Services, has been piloting what it describes as […] [Read More]