After wrapping up a “challenging” year, ACV CEO George Chamoun said he is pleased with the company’s most recent quarterly financial results but cautioned that macro factors that hindered its online wholesale auction business in 2022 may not be over. Chamoun said constrained new car supplies and sales, interest rate increases and elevated used-vehicle prices contributed to an 11% decline in retail used vehicle sales in 2022, depressing trade-in volumes and ACV’s wholesale auction listings. Still, he said he is encouraged that ... [Read More]

Grace Huang, who is president of Cox Automotive Inventory Solutions, is back on the podcast, this time from NADA Show 2023 in Dallas. Huang talks with Cherokee Media Group’s Joe Overby about what’s on the company’s radar in the wholesale car market, where technology improvements are needed in remarketing, Manheim’s preparation for electric vehicles and […] [Read More]

Brett Adair, who is the vice president of Copart Dealer Services, is next up on our series of podcast episodes from NADA Show 2023 in Dallas. Adair talks with Cherokee Media Group’s Joe Overby about what Copart’s dealer services business entails, the unique challenges of being a global company, what’s on Copart’s radar for 2023 […] [Read More]

The last time February wholesale prices increased this much on a month-over-month basis, Barack Obama had just completed his first full month in the Oval Office. And a 26-year-old Ben Roethlisberger had just earned his second Super Bowl ring, leading the Pittsburgh Steelers to victory over Kurt Warner and the Arizona Cardinals. Two U.S. presidents and NFL quarterback retirements later, wholesale prices last month ... [Read More]

CarOffer founder Bruce Thompson joins the Auto Remarketing Podcast from NADA Show 2023 in Dallas, where he talked with Cherokee Media Group senior editor Joe Overby about the company’s recent inspection upgrades, collaborations with parent company CarGurus, electric vehicles and more. To listen to the conversation, click on the link available below. Download and subscribe to […] [Read More]

Spring is buzzing on the baseball fields of Arizona and Florida as Major League Baseball prepares for the upcoming season. Spring also appears to be buzzing in the auction lanes, too, as dealers scour for inventory to make the most of tax season. Black Book reported on Tuesday that wholesale prices moved another 0.35% higher […] [Read More]

In the auto industry, it sometimes seems like there is a new merger or acquisition announced every other day. While in recent years that M&A activity has typically involved dealers, the buy-sell frenzy has extended to auto auctions. Bob McConkey, president and CEO of McConkey Auction Group and a member of the NAAA Hall of […] [Read More]

BacklotCars president Justin Davis sat down with Cherokee Media Group’s Joe Overby at NADA Show 2023 in Dallas for a conversation about the integration of BacklotCars and CARWAVE, electric vehicle trends and how BacklotCars has worked with other pieces of KAR Global, plus much more. To listen to the conversation, click on the link available below. […] [Read More]

Digital auto auctions, many of which gained increasing popularity during COVID-19, are here to stay. But physical auctions are still necessary in an industry literally full of moving pieces. From a boots-on-the-ground perspective, auction companies, even digital ones, need physical infrastructure. For instance, physical locations are often needed to ... [Read More]

Cox Automotive said Thursday that executive Derek Hansen has been named vice president of operations for its Inventory Solutions Group, where he will lead the company’s wholesale-to-retail inventory management efforts. Specifically, Hansen will focus on vAuto’s new Variable Management strategy and developing the Kelley Blue Book Instant Cash Offer and Upside products. Hansen has been […] [Read More]