Hertz is making some major changes to its leadership team. The rental car giant said it’s adding four former Delta Air Lines executives to the company this month and has promoted interim general counsel Katherine Lee Martin to executive vice president, general counsel and corporate secretary, effective immediately. In a news release, Hertz said the […] [Read More]

Chris Elliott, vice president of mergers and acquisitions at America’s Group, joins the Auto Remarketing Podcast to kick off our series on “M&A + Auto Auctions.” Elliot and Cherokee Media Group senior editor Joe Overby discuss the company’s growth strategy and M&A targets as well as overall buy-sell growth/consolidation in the auto auction industry. America’s […] [Read More]

Less than a month after announcing the purchase of San Antonio Auto Auction, America’s Group said Monday it acquired Corpus Christi Auto Auction in Texas. Both auctions were previously owned by BA&W Enterprises Ownership Group. The moves signal “a strong growth trajectory for America’s Auto Auction for the next 18 months,” the auction group said […] [Read More]

Black Book co-founder and former president Eugene McDonald died Monday, the National Auto Auction Association said in a message to members Wednesday. McDonald sold Black Book to Cox in 1965, served on that company’s board of directors and helped Cox move into the auto auction market, as it purchased its first auction (now known as […] [Read More]

Black Book’s newest installment of Market Insights gave a clear look at what happened in the lanes during the last full week of the month, quarter and first half of the year. And it appeared consignors might have cleared some volume, and dealerships reinforced their inventory to prepare for sales fireworks amid Fourth of July. […] [Read More]

Central Dispatch has taken the first step in its coming “transformation.” Cox Automotive’s logistics marketplace has launched Central Dispatch Enterprise, which it calls “a customizable package of end-to-end capabilities” aimed at large automotive shippers and brokers. That package, the company said in a news release, includes a private marketplace structure, market intelligence powered by an […] [Read More]

The downward trend in wholesale used-vehicle prices continued through May and the first half of June – but there are signs the rate of decline in the coming months could be slower than the steep drop of last summer. In his latest Kontos Kommentary, ADESA chief economist Tom Kontos said wholesale prices averaged $14,329 in […] [Read More]

CARS Recon founder Ron Hope, a veteran of more than 50 years in the auto auction industry, died last week at the age of 80. Hope, who passed away June 21 at his home in Franklin, Tenn., formed Capital Automotive Reconditioning Services in 2002, growing the operation from a single location with 12 employees to […] [Read More]

McConkey Auction Group is going all in on EBlock. The Spokane, Wash.-based group, which has been using EBlock’s dealer-to-dealer auction platform and Live Auction channel in its MAG NOW digital auction, is expanding that platform’s range into Northern California “from Fresno to the Oregon border,” according to MAG’s website. In a news release, EBlock said […] [Read More]

More than 40 new electric vehicles are expected to hit the market by 2025, according to J.D. Power. Experts think this increase seems to be driven by increased automaker incentives, high interest rates, federal EV tax credit leasing loophole, and concerns about long-term serviceability and battery health. And they said an increase in leased EVs […] [Read More]