ACV Auctions says its rapid U.S. growth continues, with west expansion from Texas to California proceeding ahead of plan. The company has doubled its Texas footprint in one year.
To keep pace with that growth, the company says it is placing top talent on its roster, and on Tuesday ACV announced it has hired Doug Hadden as vice president of field operations and promoted Will Morris from regional sales director to area vice president east.
ACV Auctions, an online, wholesale vehicle marketplace, said it now conducts operations in 138 territories, with that number increasing by year end to more than 140.
The company says it has followed a progressive approach to expansion. Because of that, it has ramped up quickly in new territories, ACV said.
ACV Auctions chief executive officer George Chamoun said the company's initial success in in Dallas, Houston and Austin "propelled our expansion into all major territories in Texas from El Paso to Galveston."
"Our footprint and market share in Texas continues to grow," Chamoun said. "It's been a similar experience for us in California, Arizona and New Mexico."
He added that the company has most recently entered markets in Oregon, Washington, Wyoming, the Dakotas, Idaho and Montana.
ACV also says it has seen record sales. In August, ACV Auctions sold more than 24,000 wholesale vehicles on its auction platform. That, according to the company, represents almost 2% of all vehicles sold today at auctions in the U.S. ACV said more than 900 “teammates” support the growing business.
“We continue to grow rapidly across the country,” Chamoun said in a news release. “Expansion west, from Texas to California, is ahead of plan.”
Chamoun added, “In one year, we have doubled our footprint in Texas and went from selling a few hundred vehicles per month to nearly 2,000. This growth demonstrates the value of our product and our ability to attract top talent in the industry."
Texas Automobile Dealer Association president Bill Wolters said ACV Auctions has been important for franchised dealers in Texas.
“Dealers are benefiting from the way ACV Auctions continues to transform the wholesale used car market with an efficient and transparent digital auction experience,” Wolters said.
ACV Auctions chief sales officer Mike Waterman had good things to say about the addition of Hadden to the company.
“Doug's reputation in the industry is top-notch and his industry experience is unparalleled,” Waterman said. “We're excited to welcome Doug to the ACV Auctions family.”
Hadden brings “deep expertise” in inventory management, ACV said. As vice president of field operations, Hadden will manage field initiatives in the areas of operations, training, strategic dealer group development and dealer association partnerships.
Hadden started his career in the industry as a lot porter. He moved on to work in every dealership department, with positions such as line mechanic, service writer, new and used car sales, finance manager, sales manager, and general manager.
Most recently, Hadden worked at ADESA, which is a part of KAR Auction Services.
Waterman added that as the company adds senior leaders to the team, it is “recognizing great work internally.” He said Morris has moved quickly from within the sales organization from territory manager to become the company’s first regional sales director and now to area vice president east.
“We look forward to the positive impact these strategic sales team moves will have on the ACV marketplace,” Waterman said.