John Foley is president of Richmond, Va.-based Recharged, which describes itself as the first end-to-end ecommerce marketplace designed specifically for used electric vehicle buyers and sellers. Foley joins the Auto Remarketing Podcast to discuss the genesis of the company, how the business model works, potential B2B applications as well as Recharged’s first delivery center and […] [Read More]

The fourth-largest auction group in the country has added the Midwest to its footprint. Dealers Auto Auction Group has expanded into Ohio with the purchase of OKI Cincinnati Auto Auction last week, the group announced. With the acquisition, DAAG now has 11 auctions, 10 of which are in the Southeast. OKI will be renamed DAA […] [Read More]

A member of the Federal Reserve Board of Governors took a cautious approach on two fronts during a public appearance last week. Michelle Bowman was guarded about the possibility of few banks in the marketplace. Bowman also was apprehensive about the growing number of what she called “shadow banks” operate with capabilities driven by fintechs. […] [Read More]

Perhaps in part because of concerns raised by the National Independent Automobile Dealers Association, U.S. Chamber of Commerce and dozens of other associations, the Federal Trade Commission is allowing for more time to receive information regarding its proposed rule to impose a nationwide ban on almost all noncompete clauses. Last week, the FTC extended the […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Jenai Bass of Capital One. What is the top trend you’re watching in remarketing/wholesale automotive this year? Now more than ever, I see a […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Cara Gray, marketing director of ADESA. What is the top trend you’re watching in remarketing/wholesale automotive this year? I’m highly interested to discover if […] [Read More]

This week, Performance Brokerage Services announced its involvement in a pair of dealership transactions, with one unfolding in Texas and the other in New Jersey. Beginning in the Lone Star State, a news release announced the sale of WestStar Autoplex in Monahans, Texas, from Larry and Peggy Bryant to Jeff Buhl of Leif Johnson Auto […] [Read More]

The used-car market continues to face several headwinds, and amid those challenges, Cox Automotive shared an update on how pre-owned sales fared in early 2023. According to data provided specifically to Auto Remarketing via email, there were an estimated 9.38 million total used-car sales in the first quarter, down from 9.62 million in Q1 2022. Total used-car sales came in ... [Read More]

Exeter Finance announced its Auction eXcellence Award winners at the recent CAR Conference, spotlighting top auctions across four categories. The honorees were as follows: Division 1 winner: Carolina Auto Auction Division 2 winner: America’s Auto Auction St. Louis Division 3 winner: DAA Seattle Exeter Most Improved: Akron Auto Auction “We realize that every car that […] [Read More]

Last week’s repossession industry events hosted by the American Recovery Association included the awarding of 23 honors by the organization as well as DRN. First during ARA’s 59th annual convention, the association gave the following honors: Key Award Marcus Potter NAR Services, Charlotte, N.C. Rookie of the Year Bryanna Cox Asset Resolutions, Houston Special Recognition […] [Read More]