Earlier this year, Tony Hall and Paul Lips were working to resolve an issue with Oklahoma’s vehicle title policy when their discussion veered off in a different direction. Hall, Carvana’s head of policy, title and registration modernization and chairman of the eSTART Coalition’s advisory board, told Lips, executive director of the National Auto Auction Association, […] [Read More]

SYCN Auto Logistics, Mercury Auto Transport and Rite Way Auto Transport Group have merged, creating what they call the largest founder-led, privately owned transport management company in North America. Under the merger, each brand will continue operations under their existing names, but they will operate under a unified technology platform providing real-time tracking, automated processes […] [Read More]

While the core of TrueCar’s business model continues to be connecting dealers with in-market car shoppers, the company sees its wholesale vehicle sourcing products as key way to further address the needs of its dealer customers. Especially as dealers prioritize used-car acquisitions amid tight supply. Market conditions give the company opportunities “to leverage our ... [Read More]

Wholesale prices dropped another 0.56% last week, according to Black Book’s newest installment of Market Insights. “Depreciation accelerated last week across nearly every vehicle segment,” analysts said. “However, due to the strength of this year’s spring market, current pricing remains above levels seen at the start of the year.” Black Book also reported last week’s […] [Read More]

Some major restructuring is underway in RB Global’s leadership. The parent company of IAA, Ritchie Bros. Auctioneers and 12 other brands announced additions, retirements and shifting roles among some of its top executives in changes set to take effect Sept. 1. The moves are designed to “position the company for accelerated and consistent growth,” RB […] [Read More]

Cars Commerce’s wholesale-related business units — Accu-Trade and DealerClub — are growing, sure. But perhaps just as important, they’re helping the company on its path to, “fully closing the loop between retail, wholesale, and appraisal technologies to complete a comprehensive used car solution,” CEO Alex Vetter said in Cars Commerce’s second-quarter earnings call. And that's possible through ... [Read More]

Looking to boost its market share in the auto auction sector, Ship.Cars has added a former ADESA executive as its new vice president of SaaS sales and remarketing. The provider of software for the car-hauling industry announced it has hired Eddie Ammar, who served almost 20 years in leadership roles with ADESA and as a […] [Read More]

Dealer-to-dealer sales within OPENLANE’s marketplace segment climbed a double-digit percentage for the third straight quarter, and while commercial sales slowed, that decline was expected and likely temporary. In the second quarter, there were approximately 182,000 dealer units sold through OPENLANE, up 21% year-over-year and up 6% from the first quarter, the company said in earnings results released last week. That represents a gross merchandise value of $2.5 billion, up from $1.8 billion a year ago. Commercial volumes came in at ... [Read More]

Cox Automotive’s vAuto is looking at vehicle appraisals with a fresh eye — a UVeye, to be exact. vAuto announced it is integrating UVeye, an artificial intelligence-powered vehicle inspection system, directly into its inventory management platform’s appraisal and inventory sourcing process. In a news release, Cox Automotive said the integration advances its mission to use […] [Read More]

CarGurus will wind down its CarOffer transaction business, including the dealer-to-dealer and Instant Max Cash Offer products, and expects to complete the process in the second half of the year. The company said in an earnings release Thursday that after a strategic reassessment of CarOffer, it has determined the transactions business “has proven less effective […] [Read More]