It was a busy week for the National Auto Auction Association, which hosted its annual Total Access event Wednesday and Thursday in conjunction with NADA Show 2023 in Dallas. And on Saturday, the group’s NAAA Foundation presented a $75,000 donation to the National Automobile Dealers Association’s Workforce Initiative, which began in 2019 as a way […] [Read More]

Auto Remarketing has learned and parent company Carvana has confirmed that ADESA president John Hammer is leaving the company Friday. Hammer has been named the CEO of Spectrum Automotive Holdings Corp., according to a news release from Spectrum, and will start Feb. 6. “John’s dedication to his team and customers has been instrumental in building […] [Read More]

Continuing its “land meets tech” strategy, EBlock is buying another auto auction, this time in Texas. The dealer-to-dealer online wholesale platform and its parent company E Inc. announced Thursday they have signed a deal to purchase Houston Auto Auction for $5.5 million in cash. The first $2.5 million would be payable at closing and then […] [Read More]

CarMax will utilize the services of UVeye to automate vehicle inspections within its auction operations and provide AI-enhanced condition reports for wholesale buyers. In a news release Tuesday, UVeye said CarMax — which has been an investor in the company since 2021 — will use its inspection technology through a licensing agreement between the companies. […] [Read More]

KAR Global said Monday that its CARWAVE and BacklotCars products have integrated into a single digital platform, which is hosted on BacklotCars. The platform offers both a live auction (currently held on Mondays and Thursdays) and a 24-7 marketplace, giving dealers flexibility, along with more inventory access for buying dealers and a deeper buyer base for […] [Read More]

Winning strategies in a digital-first wholesale world: that will pique the interest of dealers, especially in this difficult pre-owned retail environment. If that’s you, consider attending the Cox Automotive session exploring the topic at this week's NADA Show 2023 in Dallas.  Auto Remarketing spoke with both session leaders: Connie Suozzo, Cox Automotive’s vice president of Manheim […] [Read More]

Manheim has acquired the undercarriage imaging technology of Synthetik Applied Technologies, the auction company said Monday.  Manheim partnered with Synthetik in 2022, installing close to 40 of its undercarriage imaging devices at 26 of its auctions and captured some 500,000 images. The devices are affixed to the ground and take digital photographs of a vehicle’s […] [Read More]

When gas prices shot up in the first half of 2022, so did demand for used electric vehicles. Their auction values rose accordingly. Used hybrid values also rose as demand for less gas-hungry vehicles surged.  When gas prices began to ease, EV values at auction also softened, George Chamoun, CEO of online auction ACV, tells […] [Read More]

As an added benefit for Cherokee Media Group Premium Members, we are offering special episodes of the Auto Remarketing Podcasts featuring general sessions from Used Car Week in November. Our next special episode features the second in a two-part series on "What's Happening in Vehicle Consignment." Moderated by Cherokee Media Group's Nick Zulovich, this panel […] [Read More]

Look at any transaction at an auto auction.  It always involves a car dealer. “Period. That’s absolutely inarguable,” says Garrison Hudkins, the 2023 president of the National Auto Auction Association and president of Southern Auto Auction in Connecticut. “But in today’s world, there’s a dealer usually on both sides of the transaction,” he said. “And […] [Read More]