Wholesale

Spring is in full swing, and not only because Easter Sunday was just celebrated. Wholesale values are rising for almost every vehicle category Black Book tracks — except one. And dealership staff probably doesn’t need too many guesses to pinpoint the one going counter to last week’s overall value rise of 0.39% that Black Book […] [Read More]

Manheim has new leaders for four of its auctions. Cox Automotive’s auction arm has named general managers for its operating locations in Omaha, Houston, Nashville and Philadelphia, with six decades of combined experience working with Manheim clients and teams. Lincoln Hansen has been promoted to GM of Manheim Omaha, having served for the past year […] [Read More]

Logistics-as-a-service platform ACERTUS has made its sixth acquisition, announcing Tuesday it has purchased Guardian Auto Transport. The acquisition builds on the company’s “commitment to strengthening its platform with best-in-class logistics, now supporting large-format vehicles,” ACERTUS said in a news release. This continues a years-long line of acquisitions for ACERTUS and parent company MetroGistics, which has […] [Read More]

Longtime ADESA Boston general manager and former National Auto Auction Association president Jack Neshe is retiring this week, ADESA parent company Carvana said in a statement. Neshe has been GM of ADESA Boston since 2007, after joining the auction as a service manager in the mechanic shop in 1990 and working his way up through […] [Read More]

GM Financial spotted perfection in the auction world. On Wednesday, the captive named five regional Auction of the Year winners for 2023, one Most Valuable Auction of the Year, and for the first time, awarded a Perfect Audit Score. These awards are part of GM Financial’s annual Auction of Excellence program recognizing the nation’s highest-performing […] [Read More]

Cars Commerce said in its 2024 Automotive Trends report there is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories. How should store managers handle that situation? Brian Kramer, […] [Read More]

Ally Financial has its next chief executive officer who said he admires the company’s “leading position in automotive finance.” Late on Wednesday, Ally announced Michael Rhodes will be its new CEO, starting at the company on April 29. Rhodes will also be appointed as a member of Ally’s board of directors at that time. Ally […] [Read More]

Black Book watched overall wholesale values move higher for the second week in a row, as prices increased 0.13%. And older vehicles — units 8 to 16 years old — climbed a bit more than the industry-wide reading, with values rising by 0.15%. The developments are all part of the auction scene described by Black […] [Read More]

Along with highlighting overall value trends, ADESA chief economist Tom Kontos offered a closer examination of two specific parts of the wholesale market. Kontos looked at what he considers to be “late-model” used vehicles as well as electric vehicles and hybrids. First, let’s begin with the overall numbers included in the newest Kontos Kommentary released […] [Read More]

Cox Automotive’s latest personnel move is being tasked with no less than leading the “reimagination” of auto auctions. Alan Lang has been promoted to senior vice president of physical services and auctions for Cox’s inventory solutions group, responsible for guiding auction operations, processes and vehicle services as part of the company’s mission to “play a […] [Read More]