As an extension of the panel discussion series at our auto industry news conferences, Cherokee Media Group is launching a new print and auto news podcast series called “Consignor Conversations,” where we interview leading remarketing executives from commercial consignors. We begin the series with an interview of Stephanie Compton, vice president of asset remarketing at […] [Read More]

Like they have in recent earnings reports, ACV Auctions leaders during the company’s first quarter 2024 earnings call on May 9 continued focusing the discussion on the topics of growth, innovation and scale. The company calls those topics its three “pillars” of strategy to maximize long-term shareholder value. Company leaders focused a great deal of their first quarter earnings call comments on ... [Read More]

Experts at Edmunds, Equifax and TransUnion all touched on car affordability in the past 10 days when analyzing the financing and retailing scenes. The topic surfaced again on Tuesday when Black Book discussed how wholesale prices dropped another 0.24% last week; an amount more than double what lane watchers recorded a week earlier. “The wholesale […] [Read More]

John Swofford, a longtime executive with America’s Auto Auction, has joined Dealers Auto Auction Group as its new vice president. In a news release, DAA said Swofford, who most recently served as America’s Auto Auction senior vice president, brings a strong focus on operational efficiencies, staffing accountability and safety, and “has demonstrated exceptional leadership and […] [Read More]

DAA Northwest’s 2024 Rock & Roll Sale promises to be sweet as sugar. That’s sugar as in Sugar Ray, the rock band that charted four top 10 songs in the late 1990s and early 2000s, which will be the headline act for the annual event, set for July 17-18 at the auction in Spokane, Wash. […] [Read More]

AutoIMS has promoted senior director of client success Bo Boshell to vice president of client success, a move the company said “recognizes Boshell’s ability to shape short- and long-term strategies while keeping the customer at the center.” In his new role, Boshell, who joined AutoIMS in June, will take on comprehensive responsibility for the entire […] [Read More]

Carvana is bolstering its inspection and reconditioning capacity and in its first quarter delivered its best financial results ever, company executives said during its quarterly earning call. CEO Ernie Garcia said Carvana’s inspection and reconditioning infrastructure in its first quarter that ended March 31, had the capacity to handle 1.3 million vehicles per year, which is over triple its current volume, and the ability to expand that reconditioning capacity to ... [Read More]

Expressway Auto Auction of Dansville, N.Y., has engaged TPC Management Co. to provide strategic consulting services. “We’re looking forward to an exciting future as we work with Pierre Pons, Jiles Wanna and the rest of the team at TPC Management,” Expressway co-owner and general manager Kyle Tracy said. “Their relationships within the remarketing community and […] [Read More]

CarGurus’ CarOffer digital wholesale platform continued to operate at a loss in the first quarter of 2024 though it did improve sequentially. The entire company’s net income surged, however. The CEO emphasized ongoing efforts to rebuild the wholesale business and integrate it into CarGurus’ other product offerings. “We are proud of the progress and improvement […] [Read More]

Black Book’s Used Vehicle Retention Index for April and its latest weekly look at wholesale value movements summarized the likely conclusion of this year’s spring market. Beginning with the index, Black Book said its seasonally adjusted index decreased 1.1% (1.8 points) to 150.0 from the March reading of 151.8. Examining year-over-year, Black Book said the […] [Read More]