RVI Group has promoted both Daniel Egan and Michael McGroarty to serve as co-chief operating officers in fulfillment of its redesigned organizational structure, the company announced Monday. Egan and McGroarty will now report to RVI chief executive officer Douglas May, and all other company senior leadership will report to either Egan or McGroarty. “During their long […] [Read More]

For any relatively young tech company looking to continue spreading its wings from coast to coast, milestones can be huge. And Buffalo, N.Y.-based ACV Auctions — which has its sights set on taking its rapidly expanding marketplace to California by year’s end — hit a few this spring. On the last day of May, there […] [Read More]

Black Book described how the wholesale market is showing its “resilience” based on recent movement of its Used Vehicle Retention Index. Late Thursday, Black Book released its latest index reading, highlighting that it increased 0.4 percent during June to come in at 113.3. That’s up from the May reading of 112.9. Editors tabulated that the […] [Read More]

Columbus Fair Auto Auction has promoted Annie Wheatley to serve as head of fleet operations and service subsequent to the semi-retirement of general manager Chuck Dearing and two other promotions. The auction announced Tuesday that it chose to develop its newly introduced vice president of fleet services role after Dearing's recent move to take on an advisory and relationship management […] [Read More]

Black Book executive vice president of operations Anil Goyal suggested that dealers watch one particular vehicle segment closely as editors continued to see stability in the wholesale market. “The used-car market has remained relatively stable overall,” Goyal said in this week’s Black Book Market Insights report. “However, recognizing consistent weekly trends may keep you ahead […] [Read More]

Todd Briggs of Greater Erie Auto Auction took on his first role within the automotive industry driving cars for an auction house at the age of 20 in December of 1970, following a layoff from construction work for the winter. Some five decades later and after a long career, Briggs is taking time to travel. Briggs, a […] [Read More]

KAR Auction Services chief economist Tom Kontos pointed out two specific reasons why May wholesale prices registered only a “modest” move lower year-over-year. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale used-vehicle prices in May averaged $11,114. That figure was flat compared to April and down […] [Read More]

In addition to Columbus Fair Auto Auction's Chuck Dearing’s decision to enter semi-retirement, CFAA announced Thursday that it has appointed new directors of company operations and dealer sales. After 20 years with the company, CFAA general manager Chuck Dearing will take on a sales role requiring him to travel around the central Ohio area, according […] [Read More]

In this episode, Black Book's Anil Goyal shares the most important factors impacting wholesale vehicle prices this year as well as how representatives watching the lanes every week help to shape the company's forecasts. The full discussion can be found below. Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  You can also listen to the […] [Read More]

Dealers Auto Auction Group continues to spread its reach throughout the Southeast. The company announced that it has purchased Tri-Cities Auto Auction in Bluff City, Tenn. A news release indicated the auction will be renamed Dealers Auto Auction of East Tennessee.  The facility operates with four lanes along with detail and mechanical departments and offers […] [Read More]