The automotive industry continues to evolve at a remarkable pace. Every operator, from independent dealerships to large retail groups, is challenged to run leaner, think strategically, and protect enterprise value. The same holds true in the wholesale auction sector, where efficiency, transparency, data discipline, and optimizing use of technology all of which now determine who […] [Read More]

The wholesale market turned the calendar to November on Saturday, and wholesale values are cooling similarly to the deep autumn temperatures. Black Book reported that overall wholesale prices decreased by 1.04% last week, with vehicles less than 2 years old dropping slightly more, sliding by 1.07%. The newest installment of Market Insights also mentioned last […] [Read More]

ServNet Auction Group has added two new members to its board of directors, selecting Cole Hooten of Central Arkansas Auto Auction and Mere Rangel of Big Valley Auto Auction to join current members Vann Humphrey of Carolina Auto Auction and Billy Willis of Greenville Auto Auction. The board will be led by chairman Ryan Clark […] [Read More]

Manheim has named six new general managers of its auto auctions, including a new leader for its Southern California Market Center. Promoted to that role is Tom Wemhoff, who is now head of the Southern California Market Center and GM of Manheim Riverside. That Market Center includes Riverside along with Manheim California, Manheim Oceanside, Manheim […] [Read More]

ServNet Auction Group has a new president. The network of independent auto auctions said it has chosen Cody Boswell of Missouri Auto Auction to lead the group. As ServNet president, Boswell succeeds Ryan Clark, who has completed his term and will continue to serve as the group’s chairman of the board. “Congratulations to Cody on […] [Read More]

The auto auction industry has seen a spike in M&A moves over the last three years, similar to the consolidation in auto retail that has been going on much longer. “As I’m watching the consolidation happen, I think this has been imminent,” Mach10 Automotive president and CEO George Pero said of the recent runup in […] [Read More]

EBlock is selling its New Orleans and Houston physical auctions to America’s Group, EBlock parent company E Automotive Inc. announced in a news release Monday. America’s Group will acquire the auctions for roughly $11 million in cash, subject to customary purchase price adjustments. The deal is expected to close Thursday, subject to customary terms and […] [Read More]