Liza Myers Borches, chief executive officer and president of Carter Myers Automotive in central Virginia, believes the way dealers wholesale used vehicles is “due for a change.” That’s why her 13-store dealership group turned to ACV Auctions — an app-based, digital dealer-to-dealer marketplace that allows a dealer to offer individual vehicles for sale in real-time, […] [Read More]

EY describes its Entrepreneur of the Year award as “the world’s most prestigious business awards program for entrepreneurs.” EY started the award 33 years ago, and says it is now recognized globally. It honors “the most outstanding entrepreneurs who inspire others with their vision, leadership and achievement.” For 2019, EY announced that CarLotz co-founders Michael […] [Read More]

GM Financial values its auction partners, and Brad Bollman — who is the GM Financial senior vice president of remarketing solutions for North America — said in a news release that those auctions support his company’s remarketing objectives “day in and day out.” GM Financial’s recent honors for five regional 2018 Auction of the Year […] [Read More]

Insurance Auto Auctions has appointed Vance Johnston chief financial officer. Johnston, who most recently served as CFO for SP Plus Corp., will report to IAA chief executive officer and president John Kett. Kett said Johnston’s experience in leading finance teams and working toward operational efficiency will help IAA decrease cycle times and increase efficiencies for […] [Read More]

Make it five weeks in a row of wholesale values moving higher fueled by the 2019 spring market. According to this week’s Market Insights report from Black Book, editors noticed several car segments continued to show strong week-to-week retention, especially vehicles that might turn with buyers looking to stay within a budget. “Broad strength in […] [Read More]

DAA Northwest and KCI Kansas City say their signature events are known for their increased consignment volumes and buyer attendance. But those dealers in attendance at DAA Northwest’s Rock & Roll Sale in July and at KCI Kansas City’s Guitars & Cars event in August will also hear music from some celebrated performers. DAA Northwest's […] [Read More]

J.D. Power Valuation Services noticed wholesale prices closed the first quarter stronger than analysts initially expected. As a result, the firm again is adjusting its 2019 forecast after incorporating March’s information. After six consecutive months of declines, analysts reported in the latest installment of Guidelines that the used-vehicle market bounced back in March. The rebound […] [Read More]

Auction Academy’s Class 5 Group completed the final course on its program syllabus — which included a tour of ADESA Las Vegas — and celebrated its graduation. The graduation ceremony took place on March 27 during the awards and recognition ceremony at the Conference of Auto Remarketing in Las Vegas. Auction general manager Jay Hinchman […] [Read More]

CarLotz owners say they founded the company because they were “frustrated with the process of selling a used car.” About three to four years ago, the company began helping commercial clients ease those same frustrations. And recently, CarLotz came up with a new method that it says can help companies sell those vehicles quickly with […] [Read More]

Dealers don’t have to meander through the lanes or go on their smart devices for significant spans to know the spring market is in full bloom. How long it might last is the question Black Book looked to answer in its newest Market Insights report. Editors indicated spring activity continued to roll on this past […] [Read More]