ADESA is powering up its vehicle valuations. The auto auction chain, a subsidiary of online auto retailer Carvana, announced it has expanded its CarValue valuation guide to include retail market value estimates and retail-bid spread calculations. The company said the updates provide bidders on its digital auction platform with added transparency, confidence and convenience. CarValue, […] [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]

RPM, which is a non-asset-based logistics provider focused on finished vehicle and freight transportation, has named a new chief commercial officer. Hired for the role was Walt Piekarski, whose background include senior roles with Nissan, Mercedes-Benz, The AZEK Company, Vantage Mobility International and DelCam Capital. Piekarski will report to RPM North America president John Perkovich. […] [Read More]

If there’s a theme to what AutoIMS has observed in commercial consignor sales at auction this year, it’s “deliberate steadiness.” Conversion rates have stay north of 66% and above year-ago levels, sales volumes have largely remained ahead of 2024 numbers and the metrics gauging vehicle quality are stable. That’s according to the company’s Q3 Industry View, […] [Read More]

Perhaps there’s a certain amount of chaos at your dealership or finance company, especially if vehicles aren’t turning or contract holders aren’t paying. But at least based on Black Book’s newest observations, the wholesale market is relatively “orderly,” as overall prices softened a bit more than seasonal trends, but conversion rates stayed steady. Black Book […] [Read More]