Auto Hauler Exchange announced a major financial boost. The digital vehicle transportation marketplace has raised $5 million in a Series A funding round led by MHS Capital. The company said it plans to use the new capital to scale its operations, expand its team and enhance technology for its platform, which directly connects vehicle haulers […] [Read More]

Notable indictors such as wholesale values and conversion rates show that auction landscape is “very stable” after the first month of the year, according to Black Book’s newest installment of Market Insights released on Tuesday. But changes could be arriving soon. “The market continued to be very stable last week with depreciation following a normal […] [Read More]

We continue our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with a panel discussion with a group of dealers and experts explaining how the wholesale and retail markets are uniting nowadays. Moderated by CarOffer CEO Zach Hallowell, the panel featured Muhammet Citiroglu of Marathon Motors, Peter Hermes […] [Read More]

Even before its purchase of ADESA’s U.S. auctions in 2022, Carvana was already a major player in the wholesale auto industry as both one of the largest buyers and largest sellers in the space. So, the company had a firm grasp on the ins and outs of conducting a wholesale vehicle transaction. “We wanted to […] [Read More]

Cox Automotive’s logistics brand is unveiling new market intelligence capabilities. Central Dispatch said the new offerings, including an artificial intelligence-powered pricing tool, application programming interface for pricing insights, enterprise data file and market report, give dealers, transportation brokers and carriers “actionable insights” to “help move their businesses forward.” The latest enhancements, Central Dispatch said, are […] [Read More]

The wholesale car market rang in the year with two major acquisitions involving corporate entities and large players in the space:  On Friday, Cars Commerce announced the acquisition of DealerClub, a reputation-based dealer-to-dealer digital wholesale auction founded last year by ACV founder Joe Neiman, for approximately $25 million, plus additional performance-based considerations.  Just four days earlier, America’s Group announced the purchase of  AuctionVcommerce, a tech platform provider in the auto auction space. That move continues ... [Read More]

Merchants Fleet has a new captain. The fleet management company has named Matt Dyer as its CEO, saying he brings decades of industry leadership and expertise to the role. “Matt is an exceptional leader with deep fleet expertise and a proven track record of driving transformative change,” interim co-CEO Brad Burgess said. “His bold vision, […] [Read More]

OPENLANE senior director of business intelligence Forrest Dougan joined the Auto Remarketing Podcast to discuss the analytics and data science side of wholesale automotive. Dougan talks with Cherokee Media Group senior editor Joe Overby about where wholesale prices and sales volumes are heading, trends within the various consignor segments, the impact of lower off-lease volumes, […] [Read More]

Cars Commerce has strengthened its position in the wholesale automotive space this week with the acquisition of DealerClub, a reputation-based dealer-to-dealer digital wholesale auction. The purchase, which closed Thursday according to a news release, included approximately $25 million in cash and has a potential for additional performance-based consideration of up to $88 million. DealerClub was […] [Read More]

As Manheim begins its 80th anniversary year, the company’s first and largest auction will have new leadership. Joey Hughes, who has led Manheim Pennsylvania — Manheim’s flagship location, which claims the title of world’s largest wholesale auto auction — since 2016, has been promoted to regional vice president for the East Region, overseeing more than […] [Read More]