McConkey Auction Group’s signature event was pretty sweet. Rock band Sugar Ray made sure of that as the headliner of DAA Northwest’s annual Rock & Roll Sale, held July 17-18 at the MAG-owned auction in Spokane, Wash. The band, led by frontman Mark McGrath, entertained a crowd of 2,100 invited guests with their ’90s hits […] [Read More]

Central Arkansas Auto Auction in Beebe, Ark., has named Jacob Warren as vice president and chief operating officer. Auction owner Cole Hooten cited Warren’s 20-year history in the remarketing industry and background in team leadership and auction operations. “All of us at CAAA are excited to welcome Jacob to our team,” said Hooten, a third-generation […] [Read More]

Cox Automotive has added automatic adjustments for factory-installed options and packages to its Manheim Market Report wholesale vehicle valuation tool, calling “an industry first.” The company said the addition is possible because of the integration of OEM build data with Cox Automotive’s first-party transaction data and proprietary modeling, which it said creates “an unrivaled level […] [Read More]

The National Auto Auction Association is rebranding its spring meeting and moving the event to April, where it will lead into the association’s World Automobile Auctioneers Championship. The NAAA Spring Remarketing Exchange, which was previously NAAA Total Access and held in conjunction with the NADA Show, will run April 22-23 at the Renaissance Phoenix Downtown. […] [Read More]

Earlier this month, the Internal Revenue Service sent a reminder to dealers to be vigilant of digital criminals portraying themselves as representatives from the federal agency. This week, another federal agency — the Federal Motor Carrier Safety Administration (FMCSA) — delivered a similar message to transportation providers. FMCSA officials said in an online update that […] [Read More]

Click-Ins has partnered with vehicle delivery service Draiver to provide its artificial intelligence-driven vehicle inspections to Draiver’s customers in various automotive verticals in the U.S. and internationally. Click-Ins uses AI, synthetic data and other technologies to provide visualizations of vehicle damage from mobile devices with detailed condition reports delivered in minutes, the company said. It’s […] [Read More]

It wasn’t long ago that the new-vehicle supply was so dire that rental-car companies were becoming buyers in the wholesale market rather than sellers. But with the mid-pandemic new-car production issues largely squared away, rental car volume in the wholesale market has bounced back the last three years. Though unlikely their numbers will reach pre-pandemic levels ... [Read More]

Don't let the improvement in off-lease volumes in the wholesale vehicle market fool you.  At least take these gains with a grain of salt.  Numbers in this segment are expected to take a hit in the second half of 2024 and are not likely to return to pre-pandemic levels any time soon.  Here's how the numbers shake out:  Looking at year-to-date auction check-ins at Manheim locations through the first half of the year, lease check-ins have climbed 94% year-over-year, but trail 2019 levels by 58%, data from Cox Automotive shows.  Industry-wide, the number of off-lease units ... [Read More]

If your dealership needs used inventory, now appears to be prime time to find what you need at lower prices. But your store might be the outlier stemming from the combination of trends included in the newest installment of Market Insights from Black Book. Analysts reported on Tuesday that wholesale prices dropped another 0.74% last […] [Read More]

If the series of developments is an indication of its 2024 to-do list, DriveItAway Holdings is making the kind of steady progress that reinforce social media memes about business productivity. The latest move came last week when the company that offers “micro-lease to purchase” technology announced that it has partnered with Corporate Claims Management to […] [Read More]