These are busy days for Bel Air Auto Auction and GAA Classic Cars Auction. At Bel Air Auto Auction, which is the flagship auction of the BSC America Auto Auction, phase 2 of its lot expansion is underway, and the auction plans for 12 acres of vehicle parking to be ready in time for its 72nd anniversary […] [Read More]

RumbleOn announced a trio of major developments during the past two weeks, including the pricing of its previously announced underwritten public offering, an acquisition and another partnership The latest development from the e-commerce company whose mission is to simplify how dealers and customers buy, sell, trade or finance pre-owned vehicles through one online location arrived on […] [Read More]

The wholesale price movement both Manheim and Black Book spotted to round out 2018 continued into their analysis of January data. Beginning with Manheim, the company determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) decreased 1.62 percent month-over-month in January, representing a softening for the third month in a row. This move brought […] [Read More]

If you listen to lyrics from a rock and roll classic performed by The Who and other bands, you might agree there is “no cure for the summertime blues.” But the auction industry had no such blues in 2018. Jonathan Smoke, chief economist for Manheim’s parent company, Cox Automotive, said during the Manheim Used Vehicle […] [Read More]

Noting that the expansion increases its operational capabilities and readiness for greater volume, online vehicle auction company, Copart, has opened a new location in Antelope, Calif. The company operates at more than 200 locations in 11 countries, with more than 125,000 vehicles available online. “We are committed to adding vehicle storage capacity in California,” Copart chief […] [Read More]

Portions of the U.S. are recovering from some of the coldest temperatures in decades and folklore groundhogs are providing mixed forecasts. However, Black Book editors already are seeing depreciation signals of spring being straight ahead. Reinforced by the assessment of an auction general manager from the Southeast, editors noted in this week’s Market Insights report that […] [Read More]

Columbus Fair Auto Auction (CFAA) notes that dealers can take up to seven days to prepare vehicles purchased at auction for placement on their front line. A new CFAA service aims to save time by offering mechanic, reconditioning, body shop, and transportation services for a single flat rate.    Under CFAA’s Frontline Ready service initiative, […] [Read More]

KAR Auction Services said last week that it has completed its purchase of CarsOnTheWeb, a digital wholesale auction platform out of Belgium. The agreement to purchase COTW was first announced Nov. 28. The purchase was for roughly 91 million euros in cash, plus as much as 65 million euros more (over time) based on certain […] [Read More]

At KAR Auction Services, the widespread and varying investments it has made to adapt to the digital transformation in wholesale are multi-faceted.  They have included the purchases of companies in the digital space (TradeRev), data and analytics (DRIVIN), international (CarsOnTheWeb) and mobility (STRATIM). And then integrating those systems. Through all of it, they’ve strived for […] [Read More]

There wasn’t any “grand announcement” from Cox Automotive when Sandy Schwartz took the floor at an NADA Show 2019 press conference here late last month. Rather, Cox Automotive was touting a range of projects in the hopper designed to “make a difference in the future of dealers,” said Schwartz, the company’s president. “One is digital wholesaling,” […] [Read More]