Last month was the strongest March for auto auction sales in four years, capping a first quarter that beat year-ago figures by nearly 5%, according to the latest AuctionNet data and analysis from the National Auto Auction Association. March also marked an all-time high for sales of electric vehicles at auction, NAAA said. Overall, there […] [Read More]

EDITOR'S NOTE: This is a special preview (available now to CMG Premium subscribers) of the May edition of Auto Remarketing, which will focus entirely on a new special feature: Who to Watch. This special feature will recognize auto industry executives and companies — selected by Cherokee Media Group's senior editors — who are significantly shaping the future of the used-car industry. This is not an awards issue, but rather a collection of special features on leading companies and executives from retail, remarketing, auto finance, loss mitigation, and investor segments of the industry. [Read More]

Location Services said Thursday it has acquired third-party dealer consignment remarketing company Marina Hill Finance. Location Services, a full-service recovery management company, also announced it is rebranding its remarketing division as Pinnacle Remarketing. Marina Hill Finance is based in San Antonio, Fla., which is Northeast of the Tampa area and to the Southwest of Orlando. […] [Read More]

State Line Auto Auction in Waverly, N.Y., announced the launch of a new online tool and a new website designed to enhance their dealer experience. The dealers-only auction unveiled Edge Lookout, an improved online portal through Auction Edge. “We upgraded to Edge Lookout, a more complete front-end interface for the Edge Pipeline platform that lets […] [Read More]

Plug, which is an online wholesale auction platform exclusively for electric vehicles, said Tuesday it has secured $6.7 million in seed funding and launched an EV-focused trade-in solution for dealers. Starting with the funding, the round’s leaders were Floodgate, Autotech Ventures and A*. Also participating were Leap Forward Ventures, Renn Global, Cleo Capital, Toba Capital […] [Read More]

The basketball court wasn’t the only place for “madness” last month. With tariffs on the horizon and automotive uncertainty swirling, March produced a flurry of activity in the wholesale car market. The Trump administration’s 25% tariffs on imported vehicles — which became effective Thursday — led to “increased urgency” from consumers to buy new cars […] [Read More]

defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform, has named Manheim Pennsylvania as its 2024 Auction of the Year. In a news release, the company said Manheim Pennsylvania, along with rest of Manheim’s more than 100 locations and mobile auctions, “continues to achieve the highest standards of performance and customer service […] [Read More]

America’s Group has added its third auction in the Peach State, announcing Monday that it has acquired South Georgia Auto Auction in Albany. This continues a flurry of buy-sell activity for the auction company, which also announced purchases of Car-Tech Auto Auction in February and auction tech platform auctionVcommerce in January. The acquisition of Car-Tech […] [Read More]

Black Book said overall wholesale values didn’t accelerate higher as much last week as they did earlier in March. However, analysts said those gains are still above pre-pandemic levels of appreciation for this time of year. And then this week, the Trump administration implemented the 25% tariff on all imported vehicles into the U.S., prompting […] [Read More]

Auto transport and logistics provider Proficient Auto Logistics has acquired Brothers Auto Transport, a move the company said is intended to expand its fleet and base of drivers, and strengthen its presence in Northeastern markets. Brothers, founded in 1996 and based in Wind Gap, Pa., adds new OEM partnerships to Proficient’s portfolio and expands existing […] [Read More]