Cox Automotive announced on Wednesday that it has promoted John Kovac to executive vice president and chief marketing officer and Rock Anderson Jr. to executive vice president of people strategies. Kovac a 17-year Cox veteran, took on the role of senior vice president of marketing at Cox Automotive when the division of Cox Enterprises launched in […] [Read More]

Looking at information for the first full week of 2017, the newest Black Book Market Insights Report detailed steeper declines in value for several segments — with three in particular catching editors’ attention most. Registering the most significant price drops last week were sporty cars, luxury cars and crossovers. Conversely, Black Book noticed compact vans […] [Read More]

One of the key benefits of bringing AmeriFleet into the fold, say MetroGistics executives who talked with Auto Remarketing ahead of Monday’s merger announcement, is having the capability of what is known as “final-mile delivery.” MetroGistics Holdings and Tailwind Capital, which owns a majority stake in MetroGistics, announced the purchase of AmeriFleet on Monday. With […] [Read More]

From at least a mathematician’s perspective, 2016 closed with Manheim noticing the least amount of volatility since the auction company created the Manheim Used Vehicle Value Index more than 20 years ago. Manheim reported on Monday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased by 0.2 percent in December, which […] [Read More]

MetroGistics and AmeriFleet are merging. MetroGistics Holdings and Tailwind Capital, which owns a majority stake in MetroGistics, announced the purchase of AmeriFleet on Monday. The merger of their operations is designed to create  a “one-stop-shop” for various fleet-related services like driveaway trucking, storage, title and registration and compliance. “This is incredibly exciting news for MetroGistics, […] [Read More]

On Wednesday, Copart announced the addition of its first location in Wyoming and fourth in Colorado, along with the expansion of its Springfield, Mo., location. "We have been expanding and adding new locations throughout the United States this year, and we are pleased to add Wyoming as our 46th state in which we are operating," Copart […] [Read More]

The average 12-month depreciation for vehicles from the 2011-2015 model years was 17.3 percent last year, according to Black Book, which said depreciation rates began to stabilize at the close of 2016. Twelve-month depreciation for car segments was at 20 percent, with truck segments averaging 15.5 percent. In the final month of the year, overall […] [Read More]

Auction Academy, a continuing education program developed by TPC Management Co. for professionals in the auto auction industry, reports that it closed the year graduating its fourth class, and hosting the last session of its recently expanded annual Seminar Series. “In planning both our two-year Program and the shorter focused Seminar Series, we continue to cover topics that […] [Read More]

TradeRev, a mobile appraisal and auctioning app for dealers, opened its U.S. headquarters in Carmel, Ind., on Tuesday. The company, which is part of KAR Auction Services, has been expanding globally but wanted a “centralized headquarters” for its U.S. operations. “We are officially planting our roots in the U.S. with our new headquarters office that […] [Read More]

Manheim is now the exclusive remarketing partner of Maserati North America, the auction company said in a statement Thursday. Manheim will work with the car company to centralize its wholesale processes, a move that will include revamping its fleet management program and selling Maserati’s off-lease, buyback and company owned units. As part of the deal, […] [Read More]