Even before the recent used-car supply changes, dealers were increasingly turning to a variety of channels to acquire wholesale inventory. And these days, the “buy anywhere” approach is of paramount importance as traditional wholesale sources have limited supply. With that in mind, vAuto has launched ProfitTime’s Global Acquisition tool, which is designed to help dealers […] [Read More]

Hertz will have a new chief executive officer at the end of the month. The rental car company named to former Goldman Sachs executive Stephen Scherr to the CEO role on Friday. Scherr, who spent close to three decades at Goldman Sachs and left his role as chief financial officer at the end of 2021, […] [Read More]

We start this auction news roundup with the latest from Black Widow Imaging. The company announced two upgrades to its high-definition image capturing system on Wednesday. First, the platform now captures 17 images, up from seven. Additionally, Black Widow also introduced automated background replacement software for automakers and dealers, through which the company can remove […] [Read More]

Add another major player to the growing online wholesale space. CDK Global announced Wednesday it has launched an online wholesale marketplace called CDK CarSource that is designed to connect dealers to used-car inventories from other dealers across the country. The platform does this through an integration with the company’s CDK Drive dealership management system. “With […] [Read More]

There has been some wholesale vehicle price normalization in the early stages of 2022, as values slowed again last week. According to the latest Market Insights report from Black Book, wholesale vehicle prices for the week ending Saturday were down 0.34%, following a 0.17% drop the prior week. During the 2017-2019 time frame, the average […] [Read More]

Ambient Automotive said Tuesday that its Carbly platform now includes Galves vehicle values market data. Carbly, which helps dealers make decisions on vehicle sourcing, valuation and inventory management, now includes pricing data from eight sources. Among those are Kelley Blue Book, J.D. Power, Manheim, Black Book, EDGE Pipeline, Galves and others. “With the volatility in […] [Read More]

ADESA said Tuesday it is launching a more comprehensive condition report designed to help dealers “buy with confidence.” The enhanced reports feature an upgraded photo gallery that includes a dedicated damages section, easier-to-find tire condition information and vehicle options, the company said in a news release. The top of the CR page will feature the […] [Read More]

With nearly a month of 2022 already in the books, we asked for observations from Black Book chief data science officer Alex Yurchenko and Laura Wehunt, who is vice president of automotive valuations at Black Book, for this episode of the Auto Remarketing Podcast. Yurchenko and Wehunt explained why the wholesale market has behaved like they expected. […] [Read More]

Extending a string of executive modifications, Dent Wizard International recently promoted Cory Lyda to vice president of operations through a move the company said was effective Jan. 1. In his new role, Dent Wizard highlighted Lyda will serve primarily as the field liaison for the corporation and oversee product-related initiatives. The company added that Lyda […] [Read More]

Electric vehicles took some time to gain steam in the new-car market, but once they did, sales took off like a rocket. Given the measured pace of new EV sales in the years prior to the acceleration in 2021, pre-owned EVs remain a “niche market,” due to the resulting low supply and other considerations, says […] [Read More]