A telling sign for the used-car supply shortage is evident in the latest Wholesale Market Update from J.D. Power Valuation Services. There were 3.91 million vehicles (up to 8 years old) sold at auction last year, which was down 13% year-over-year. “However, when compared with pre-pandemic levels, auction sales trended 25%-30% lower during the course […] [Read More]

Within hours of the Supreme Court making its decision on Thursday, ComplyNet president and general counsel Adam Crowell made another appearance on the Auto Remarketing Podcast to provide an update about mandates put forth by the Occupational Safety & Health Administration (OSHA) involving COVID-19 vaccinations and testing. Crowell described what dealers have been facing since […] [Read More]

KAR Global chief economist Tom Kontos looked at both November and December pricing trends for his latest installment of the Kontos Kommentary. After seeing the wholesale data, dealers again might be yearning for the days before the pandemic sent prices soaring like a fever. [Read More]

After the closing of the company’s sale to an investor group led by Warburg Pincus as well as an expansion of its origination strategy last month, more significant changes at Exeter Finance came late on Thursday. The non-prime auto finance company announced chief financial officer Brad Nall will retire. Nall’s successor will be auto finance […] [Read More]

For the second time this week, StoneEagle elevated one of its internal executives into an expanded leadership role. On Friday, the provider of F&I and service metrics for the past 35 years named Kathy Burns as its new chief customer officer in a move that arrived five days after the company promoted Damar Christopher to […] [Read More]

We start this Auction News Roundup in South Carolina, where Angela Yarborough has returned to Rawls Auto Auction as executive sales and marketing manager. She rejoins the company from America’s Auto Auction, where she was the assistant general manager at its Houston location. Starting as a block clerk in 1989, Yarborough spent nearly three decades […] [Read More]

Total annual bankruptcy filings decreased nearly 25% year-over-year, according to data shared and discussed by Epiq and the American Bankruptcy Institute (ABI). [Read More]

Curt Long, chief economist and vice president at the National Association of Federally-Insured Credit Unions (NAFCU), put the general economy into car terms, explaining in this episode of the Auto Remarketing Podcast if the economy is like a car that’s running efficiently, one that’s due for routine maintenance or a vehicle that requires quite a […] [Read More]

Houston-based Auto Financial Group reinforced its Canadian leadership this week. The company announced that Mark Caschera has been appointed vice president of AFG Leasing Canada in a move meant to bolster AFG’s mission to expand its program in Canada to meet the rising consumer demand for leasing. AFG explained the program can allow credit unions […] [Read More]

An industry with as many moving parts (literally) as the auto auction industy requires a wide array of talent to complete the myriad tasks associated with sale day and beyond: drivers on sale day, accountants, sales representatives, office managers, tow-truck operators, technicians, parts supervisors, reconditioning specialists, customer service managers and much more. So as part of […] [Read More]