Cox Automotive has parted with one of its international businesses. UFODrive Group, parent company of UFOFLEET, announced it has acquired FleetMaster from Cox, a deal UFOFLEET said accelerates its mission to “reshape the $500 billion fleet and mobility market.” UFOFLEET plans to equip and scale FleetMaster’s established platform for rental, leasing and retail, with “intelligent […] [Read More]

Black Book offered two separate looks at the wholesale market this week. The first observation was its weekly installment of Market Insights, which showed wholesale values remained unchanged while auction conversion rates edged higher to 64%. The other assessment explained three reasons why the ongoing surge of gas prices above $4.50 per gallon is creating […] [Read More]

In March, auction sales reached their strongest point since July 2020. Last month was even stronger. According to AuctionNet data from the National Auto Auction Association, wholesale auction sales climbed 2% month-over-month in April, following March’s near-six-year high. Led by off-rental units, there was a 20% year-over-year hike in wholesale sales for commercial consignors in […] [Read More]

IAA’s connection with its newest partner really clicked. The global digital marketplace has joined with Click-Ins, a provider of artificial intelligence vehicle damage detection, in an integration that embeds Click-Ins’ automated damage detection technology into IAA’s Inspection Services platform for insurance clients. The collaboration is designed to have Click-Ins’ technology analyze vehicle condition and damage […] [Read More]

RPM is revving up its business model, and it’s adding a new chief financial officer to help that expansion along. The logistics provider has hired Joe Bojaj as its CFO, bringing what the company called “a sophisticated background in financial leadership” to the executive team, along with a track record of driving fiscal discipline and […] [Read More]

After a strong start to the year, wholesale vehicle prices remained “resilient” in April, but momentum from tax season has slowed. That, coupled with other market headwinds like the conflict in the Middle East and affordability, dimmed used-car prices slightly last month, industry observers report. For instance, Black Book’s Used Vehicle Retention Index came in […] [Read More]

A new auction is riding in from the West. Go West Auto Auctions announced it is launching an online wholesale auction for licensed retail/wholesale dealers in the Western U.S. In a news release, the company, based in Bend, Ore., said it’s “rebelling against the existing industry standards by putting dealers first, standardizing fee structures, offering […] [Read More]

ACV started as a digital auto auction marketplace in 2014, but in the dozen years since, it has expanded by acquisition and development to include a bevy of additional services for dealers. Including inventory management. ACV bought MAX Digital in 2021, a move that allowed ACV to offer dealers inventory and pricing guidance as well […] [Read More]

Carvana’s integrated auction-recon sites are coming fast and furious. On the heels of last week’s announcement of a combined facility at ADESA Syracuse, the online used-car retailer revealed plans for its next such site, this one at ADESA Chicago in Hoffman Estates, Ill., where an inspection and reconditioning center will be added to the existing […] [Read More]

Toya McLeod of Southlake, Texas won the top prize as the world champion auto auctioneer at the 2026 World Automobile Auctioneer Championship last week at Dealers Auto Auction Memphis in Eads, Tenn. Another Texan, Graci Sherman of Lubbock, claimed the ringman title, and Tennessee’s Blake Walker and Alabama’s Donnie Marr won the team competition. McLeod, […] [Read More]