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]

KAR Global chief economist Tom Kontos returned to the Auto Remarketing Podcast to discuss how much off-rental units might impact wholesale volume and pricing as turbulent 2020 continues. Kontos also touched on other factors that he and his team are watching that could influence both the wholesale and retail markets going forward. To listen to this […] [Read More]

Steve Jordan, the longtime chief executive of the National Independent Automobile Dealers Association, is joining KAR Global next month as its executive vice president of dealer sales. KAR made the announcement Monday morning. Jordan has been with NIADA for 11 years and its CEO for the past seven. NIADA announced Friday that Jordan had resigned […] [Read More]

It was another record for the Manheim Used Vehicle Value Index. This metric measuring wholesale used-car prices has now hit all-time highs for two straight months, as a near 6% sequential lift in wholesale values pushed the index to 158.0, according to parent company Cox Automotive. That reading beats year-ago figures by 12.5% and is […] [Read More]