182,000 off-rental vehicles from one company hitting the wholesale ecosystem sounds like it could be a potentially damaging saturation of the market. If it was happening all at once. And if wholesale prices for off-rental were already at a tenuous position. Neither factor appears to be the case with Hertz and its plans to wholesale that […] [Read More]

In the initial quarantine period of the COVID-19 pandemic in March and April, the rush to move vehicles off lots caused dealers to shy away from certified pre-owned (CPO) strategies. As a result, CPO sales dropped by 39.5% in the first quarter of 2020. Sales did climb back to finish the first half of the […] [Read More]

Black Widow reinforced its leadership on Tuesday with a technology expert who arrives from ADESA. The automated imaging company with a drive-through camera system that can capture images and 360-degree virtual tours within seconds named Chris Dillow as chief technology officer. Black Widow said Dillow, who brings more than 30 years of enterprise information technology […] [Read More]

While overall bankruptcies remain lower year-over-year, a rise in a portion of commercial filings during July has the leader of the American Bankruptcy Institute (ABI) concerned about what might be happening later this year. According to data provided by Epiq, ABI said total commercial Chapter 11 filings in July 2020 increased 52% from the previous […] [Read More]

The investment community is maintaining close observations on subprime auto financing. S&P Global Ratings on Monday said that its ratings on 27 classes from 20 U.S. subprime auto ABS transactions will remain on CreditWatch, where they were placed with negative implications on May 12. The finance companies connected with these transactions include: — American Credit […] [Read More]

Two wholesale industry leaders shared reasons why others should join them during the 2020 IARA Virtual Summer Roundtable hosted by the International Automotive Remarketing Alliance. ServNet executive director John Brasher opened first by stating why auctions, consignors and other wholesale-market participants should be online for the event set for Aug. 20. “With several industry events […] [Read More]

Pivet, which is part of Cox Automotive Mobility Group, recently partnered with Georgia Power and ChargePoint — a provider of electric vehicle charging networks — for a project that the parent company says was one of the Southeast’s largest EV charging single property installations. Installed through the project at the Pivet Atlanta facility, which is […] [Read More]

As part of Auto Remarketing's annual NAAA Issue spotlighting the auto auction industry, we are once again including an "Auction Life" photo spread of pictures from the past year.  For NAAA-member auto auctions who would like to submit their pictures for inclusion, please upload them to the Dropbox link below by Aug. 28.  Dropbox for NAAA Auction Life […] [Read More]

A certified vehicle with more music, information and entertainment options coming through the model’s sound system. That’s the result of Monday’s finalization of a relationship involving SureSale and SiriusXM. According to a news release, SureSale announced that it has teamed up with SiriusXM to offer a complimentary three-month subscription to SiriusXM’s top-tier All Access package […] [Read More]

Karma Automotive is growing its footprint in the Lone Star State. Last week, the Southern California-based creator of luxury electric vehicles and the developer of advanced technologies, announced the addition of a new North American retail partner. The company said Karma DFW, operated by Principle Luxury Collection, is the second retailer to be added to […] [Read More]