Wholesale

vAuto announced what it called “a significant expansion” of Upside, bringing its wholesale solution to the Texas market. The system, which combines Cox Automotive brands vAuto, Kelley Blue Book and Manheim Marketplace, is designed to enable dealers to acquire trade-ins at the right price while helping secure a profitable wholesale exit, directly from their vAuto […] [Read More]

Carmigo, an online marketplace and wholesale platform for dealerships, has promoted Chris Michael to from operations manager to vice president of operations. Michael has been with company almost since its beginning — he joined three months after its founding in early 2021 — and has led its operations department through multiple company-wide initiatives. In a […] [Read More]

RB Global, a global marketplace for buyers and sellers of commercial assets and vehicles, has appointed Nancy King as chief technology officer, effective June 3. The company, which is the parent company of IAA, said King brings “extensive hands-on information technology leadership experience” for Fortune 100 organizations. Most recently she served as senior vice president […] [Read More]

IAA has entered into a new market alliance with Baltic Auto Shipping to expand its reach in Lithuania. IAA’s parent company, RB Global, said the deal increases IAA’s connectivity with the global buyer market and strengthens the auction company’s presence in Eastern Europe. The alliance’s goal is to broaden the market share of both companies […] [Read More]

If you’ve taken older cars on trade and don’t want to retail them, the current wholesale market looks like fertile ground for those units. While highlighting the overall wholesale market generated a 0.17% price increase last week, Black Book pointed out values for 8-to 16-year-old cars rose 0.14%. Furthermore, the newest installment of Market Insights […] [Read More]

In late January, Black Book introduced Battery Adjusted Values, which it says are the industry’s first electric vehicle valuations. The valuations incorporate battery condition adjustments based on data from Recurrent, a provider of EV analytics. At NADA Show 2024 last month, Cherokee Media Group’s Joe Overby connected with Marko Iljadica of Recurrent as well as […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from NADA Show 2024, ACV CEO George Chamoun returns to the program to talk about sourcing inventory from consumers, ACV’s “TEC Talks,” growth areas for the company, its work with a.i.m. recon and much more. Listen to his conversation with Cherokee Media Group senior editor […] [Read More]

Copart has a new leader. The online auto auction platform’s board of directors has appointed Jeff Liaw, who has been serving as co-CEO since March 2022, as the sole CEO and a member of the board, effective April 1, as longtime CEO Jay Adair steps aside into the new role of executive chairman. Adair was […] [Read More]

We turned out clocks ahead on Sunday and spring officially arrives on the calendar next week. As far as the auction climate, Black Book said spring is in full swing, in part because 32% of vehicle segments generated a rise in value last week. All told, analysts reported wholesale prices edged just 0.05% lower and […] [Read More]

Auto auction giant ADESA announced leadership changes at four of its locations, with new general managers at the helm in Orlando, Tampa, Minneapolis and Shreveport, La. Rod Thompson has joined ADESA Orlando as GM after nine years with the company, beginning in 2015 as dealer sales and service manager of ADESA Tulsa. He was promoted […] [Read More]