Carvana has seen strong growth in vehicle sales. But the company has also been buying a lot of vehicles from its customers. On the topic of selling, Carvana showed solid fourth quarter sales and revenue growth and strong 2019 overall revenue, as well. The company completed its sixth consecutive year of triple-digit revenue growth. In […] [Read More]

Summertime attendees at Brasher’s Sacramento Auto Auction around the late 1970s might have noticed a 6-year-old boy emptying ashtrays and restocking the soda machines. The youngster was John Brasher, and when he was 7 or 8, he moved up to work at the auction’s snack bar counter, selling popcorn and drinks. “I figured out in […] [Read More]

UPDATE: McConkey Auction Group, whose auctions are members of ServNet, said Wednesday afternoon that all of its sales will be virtual "until further notice." More details can be found in this LinkedIn post.  In an update shared Tuesday, independent auction group ServNet said its members are currently still holding sales as regularly scheduled, though some […] [Read More]

Now that online marketplace Shift has launched its first Washington-state market in Seattle, customers in that area will be able to sell cars to Shift directly through use of its “brought-to-you” service. For Shift, which is based in California, the service will be available to consumers within the Seattle greater metropolitan area. That includes the […] [Read More]

The auto auction industry is a fiercely competitive one, but in times of crisis, it tends to pull together for the greater good of the business. That’s what Frank Hackett, chief executive officer of the National Auto Auction Association, has observed through the ongoing COVID-19 pandemic. For the last two Mondays, Hackett has joined a […] [Read More]

In her new position as vice president of people operations for enterprise dealer management system provider DealerBuilt, Deb Wiley will oversee the building of the talent architecture that DealerBuilt says enables it “to scale its business to the next level.” DealerBuilt provides a DMS platform that it says helps dealerships customize how they use technology […] [Read More]

Black Book vice president of automotive valuations Laura Wehunt tried to put a lighthearted spin on what’s happening in the wholesale market amid the coronavirus pandemic. “What do toilet paper, hand sanitizer and used cars have in common? They were all in demand last week,” Wehunt said in the latest installment of the Black Book […] [Read More]

Extending its operations within Northeast Wisconsin, Broadway Automotive has purchased the Pietroske Chevrolet, Buick, GMC and Cadillac dealership in the city of Manitowoc. The dealership purchase agreement includes the Pietroske Chevrolet, Buick, GMC and Cadillac dealership and property in Manitowoc. Broadway currently operates a Chevrolet dealership in Green Bay, and the Buick, GMC and Cadillac […] [Read More]

Coinciding with announcements from Cox Automotive and KAR Global regarding their adjustments in conjunction with COVID-19, top executives at ACV Auctions, BacklotCars and IAA each posted letters online to their client bases, reiterating pledges to maintain operations and safety measures. George Chamoun, Justin Davis and John Kett — the respective leaders of ACV, BacklotCars and […] [Read More]

On Monday, the American Bankruptcy Institute (ABI) reported nearly steady movements in total and consumer filings for February, but experts fully anticipate significant changes coming as a result of the COVID-19 pandemic impact on the economy. According to data provided by Epiq Systems, total bankruptcy filings ticked up 0.1% to 56,182 in February from the […] [Read More]