Off-lease volumes and the equity gap between the value of those off-lease vehicles and their residuals: these have been a “double whammy” to OPENLANE’s marketplace business in recent years. But look for that two-headed headwind to reverse course next year. In the company’s fourth-quarter and full-year 2024 earnings call in February, CEO Peter Kelly said he expects 2025 to ... [Read More]

It doesn’t take an Ivy League-educated business expert to explain that when you keep your clients satisfied, you’re likely to experience gains in revenue and profit. Well, that’s what’s happening at Copart as the auction company is keeping its car insurance clients happy, especially with the capabilities and performance of its vehicle title solution. For the second quarter of its 2025 fiscal year that closed on Jan. 31, Copart generated ... [Read More]

J.D. Power is going deeper into the automotive remarketing business. The global data and research firm has acquired Superior Integrated Auctions, which the companies said combines SIA’s online auction marketplace capabilities with J.D. Power’s inventory, vehicle valuation data, predictive analytics and digital marketing systems to streamline pre-owned vehicle inventory management. The companies have been collaborating […] [Read More]

ACV made four acquisitions last year and two the prior year. Those purchases included the likes of Indiana Auto Auction, 166 Auto Auctions and Alliance Auto Auction. But the expansion strategy for 2025 will look a little different ... [Read More]

Element Fleet Management and Blackstone Credit & Insurance announced they have have entered into a strategic funding relationship, in which funds managed by Blackstone through its Infrastructure & Asset-Based Credit group are providing capital involving a portfolio of Canadian fleet lease receivables valued at approximately $500 million Canadian. “Element is committed to optimizing our funding […] [Read More]

The electric vehicle (EV) market continues to show continued growth, driven by consumer demand for environmentally friendly transportation options and supported by government incentives. As of the fourth quarter of 2024, used EV sales have surged by 62.6% compared to the previous year, according to Cox Automotive, making them a highly sought-after commodity for auto […] [Read More]

The National Auto Auction Association’s Ron Hope Memorial Scholarship has another recipient. Fredrick “Frankie” Lingle, fleet manager of Greensboro Auto Auction, has been awarded the scholarship to Auction Academy, joining Greater Rockford Auto Auction’s Abigail Balk, who became its inaugural recipient in December. The association said Lingle will participate in the academy’s Class 9, which […] [Read More]

The modest springtime appreciation consignors and dealers see annually is already starting to surface, especially when examining some specific vehicles less than 2 years old. That’s one of the main findings from this week’s Market Insights from Black Book, which is also watching for price shifts that can be attributed to tariffs. All told, analysts […] [Read More]

RB Global — the company which includes IAA, Ritchie Bros. Auctioneers, DDI Technology, Xcira and other entities — released fourth quarter and full-year 2024 results as its headliner event, the Orlando mega-auction, was underway. The results impressed analysts. “Q4 financial results from RB Global were ... [Read More]

SIXT USA has continued to grow its footprint. But this time, it is related to general operations of the rental car company. On Tuesday, SIXT announced it’s planning to open a new office in Tulsa, Okla. As part of SIXT’s global strategy to enhance capabilities in key markets around the world, the company highlighted the […] [Read More]