To kick off the return of Auto Remarketing’s “4 Questions With” series of Q&As with industry executives, we connect with Jim Hallett, who last week retired as KAR Global’s executive chairman after more than two decades with the company. The following Q&A with Hallett is available to CMG Premium subscribers ... [Read More]

KAR Global executive chairman Jim Hallett is retiring, the company said Friday. Hallett, also a philanthropist, hockey team owner and award-winning industry executive, has been with the company in various eras, iterations and roles for more than 25 years. He steps down from his positions as executive chairman and chairman of the board of directors […] [Read More]

The number of vehicles entering the lanes at NAAA-member auctions fell 7% year-over-year in 2022 and the number of units sold dropped 4%, but here’s some good news for their consignor partners: average price per unit climbed 4% and hit an all-time high. That’s according to the annual industry survey from the National Auto Auction […] [Read More]

GM Financial announced its Auction of the Year winners on Wednesday, spotlighting five regional honorees and one overall Most Valuable Auction of the Year winner. Starting with the 2022 Regional Auction of the Year Winners, those included: America’s Auto Auction Columbus Fair in Obetz, Ohio Southern Auto Auction in East Windsor, Conn. America’s Auto Auction […] [Read More]

A popular college basketball tournament has been happening this month that’s often associated with the description, “madness.” The wholesale market might not be quite to that level, but used-car managers certainly are having to pay more for vehicles at auction. According to Black Book’s newest Market Insights, wholesale prices jumped another 0.51% during the week […] [Read More]

Two independent auto auctions have new general managers. Starting with Carolina Auto Auction, ServNet announced Friday that Vann Humphrey is now GM of the auction, which is one of two in the Stanley-Autenrieth Auction Group. Eric Autenrieth will become CEO of the group and is set to become NAAA president this fall. Humphrey has been […] [Read More]

On Wednesday, RoadRunner Auto Transport introduced artificial intelligence  and machine learning to optimize planning and pricing for vehicle shipping. The company highlighted AI and ML will significantly reduce delays and improve the cost and efficiency of the vehicle shipping process. Through a news release, RoadRunner explained that its AI and ML algorithms can analyze real-time […] [Read More]

The National Auto Auction Association is hosting an industry standard training session next month at Greenville Auto Auction that will delve into damage analysis and condition reports. The course, set for April 11-12 in Greenville, N.C., will include the following topics, NAAA said: Condition report-related disclosures and announcements for buyers and sellers Imaging and best […] [Read More]

Cue the theme music from the “The Jeffersons” as a backdrop for the current wholesale market. Prices and sales rates are “movin’ on up!” Black Book recapped in its newest installment of Market Insights that wholesale values rose another 0.49%. For context, analysts noted that the average movement during the same weeks in 2017-2019 was […] [Read More]

Wholesale vehicle prices have started March on the strong side — at least sequentially. Though softer than year-ago levels, values in the first half of the month were up 1.8% from February when adjusted for mix, mileage and seasonality, according to Cox Automotive’s mid-month reading of its Manheim Used Vehicle Value Index. The index, which […] [Read More]