A Teletrac Navman survey of more than 1,800 global fleet operators revealed the top three challenges they currently face. Topping the list of concerns for these automotive professionals are rising fuel costs (39%), disruption due to the impact of COVID-19 (32%) and supply chain pressure (31%). “The last 12 months have created new complexities for […] [Read More]

Late on Tuesday, Cox Automotive announced the acquisition of FleetNet America in an effort “to keep the world’s fleets moving efficiently, safely and sustainability.” With the acquisition, company executives said Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market […] [Read More]

In this episode of the Auto Remarketing Podcast, Copart vice president of sales Yoker Vidal joins the show from NADA Show 2023 in Dallas. Vidal and Cherokee Media Group senior editor Joe Overby discuss the distinction between Copart’s various product lines like CopartSelect, BluCar, etc., the importance of physical processes in a digital wholesale world, […] [Read More]

Black Book reported that wholesale values rose another 0.21% last week, representing the highest week-to-week jump analysts have seen in 10 months. According to the latest installment of Market Insights, last week’s increase landed after Black Book spotted a 0.14% increase during the week that included Valentine’s Day and part of Presidents’ Day weekend. Perhaps […] [Read More]

SIXT USA now is renting high-line vehicles at two more major airport locations. On Tuesday, SIXT opened at Pittsburgh International Airport as well as Canada’s largest hub, Toronto Pearson International Airport. These openings follow a series of several new locations in the U.S. last year, including Vail’s Eagle County Regional Airport, Charlotte Douglas International Airport […] [Read More]

ADESA chief economist Tom Kontos is getting validation about a projection he made a year ago: As new-vehicle supply improved, used-vehicle price growth would return closer to its typical one-to-one relationship with new models. That validation was part of the newest installment of the Kontos Kommentary that included ADESA US Analytical Services’ monthly analysis of […] [Read More]

An online auction for dealers to buy vehicles directly from consumers that has operated for two years in the Salt Lake City and Phoenix markets now has more financial resources to use for its plans to open in 10 additional markets during the next 24 months. Gauge announced on Wednesday that it closed an oversubscribed […] [Read More]

ServNet has expanded in California with the addition of All Valley Dealers Auto Auction, which is located in the North Hollywood neighborhood of Los Angeles. The Soghomonian family owns and operates AVDAA, which was built in 1986 by Victor Soghomonian, who continues to run the auction with his sons. Justin Soghomonian is vice president and […] [Read More]

The appeal of nearly new models likely has been heightened since the average transaction price for a new vehicle in January came in at $49,388, which was $2,768 higher year-over-year according to data from Kelley Blue Book. Well, Black Book noticed it’s also going to cost dealers more in the wholesale world to get 0-to-2-year-old […] [Read More]

In the wholesale market, prices are climbing from January, and a stronger percentage of vehicles are selling. In fact, it has been 14 years since February wholesale vehicle prices have shown this large of a sequential gain. But prices continue to come down from … [Read More]