The vernal equinox arrived on Thursday, but Cox Automotive suspects that the peak of the spring market might have arrived by the middle of March. Analysts reported that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dropped from February during the first 15 days of March. The mid-month Manheim Used Vehicle Value […] [Read More]

Cox Automotive celebrated eight independent auctions and one industry executive during its 16th annual OVE Awards, which honor the top-performing auction partners on the digital wholesale platform. The awards ceremony took place on Monday in San Diego at the start of the Conference of Automotive Remarketing (CAR). The honors based on performance in 2024 went […] [Read More]

Here’s a positive comparison back to 2020 when the automotive industry faced unprecedented challenges from the pandemic. The National Auto Auction Association said on Wednesday that member auctions reported nearly 7.6 million vehicles sold in 2024, representing the highest sales volume for the industry since 2020. According to the 2024 NAAA Auction Industry Survey, more […] [Read More]

The NCAA men’s and women’s basketball tournaments are unfolding, Major League Baseball just opened its season in Japan, and dealers are raising their hands and clicking buy buttons more often during physical and online auctions. Yep, it’s spring. According to Black Book’s newest edition of Market Insights, wholesale prices rose by 0.27%, and the conversion […] [Read More]

ACERTUS has made a big move into the corporate world. The automotive logistics-as-a-service platform has acquired Bluestar Auto Movers and Bluestar Corporate Relocation Service, which the company said “significantly expands” its market reach and service capabilities by adding two high-value service lines: corporate relocation and exotic vehicle transport. “This acquisition represents two new end markets […] [Read More]

Recent technology-based acquisitions and its platform of connected used-car solutions will help Cars.com grow its dealer customer base and its overall business, the company’s executives predicted during its most recent earnings call. “We’ve made significant progress to bring new and innovative products to market in the past year, culminating in our most recent acquisition of DealerClub,” a reputation-based, dealer-to-dealer digital wholesale marketplace, said CEO Alex Vetter. The acquisition positions Cars.com to enter a $10 billion wholesale market “with ... [Read More]

Exeter Finance recently announced its 2024 Auction eXcellence Awards, honoring seven operations. The recipients included: Division I: United Auto Exchange Division II: Oklahoma Auto Exchange Division III: ADESA Salt Lake Exeter Most Improved (EMI):  All Valley Dealer Auto Auction Play of the Year: EBlock Houston Continued eXcellence: Carolina Auto Auction MVP: America’s St. Louis “It […] [Read More]

Dealers looking to acquire later-model used vehicles in February were finding them in a rather traditional channel: the auto auction. But the source is not the consignor segment that might first come to mind when discussing this age group. According to the latest AuctionNet data from the National Auto Auction Association, overall wholesale auction sales […] [Read More]

Ship.Cars is ramping up security. The software provider for car hauling companies has introduced new security measures that aim to protect carriers from the threat of fraud in auto transportation, including password requirements, mandatory two-factor authentication, proprietary fraud detection tools and continuous carrier USDOT authority monitoring. The company also unveiled plans to develop a new […] [Read More]

Most Americans sprung forward on Sunday, turning their clocks ahead an hour as spring gets officially closer. Meanwhile, current wholesale market conditions are showing the arrival time of the spring market might already be here. Black Book reported on Tuesday that overall wholesale prices ticked up 0.03%, with the auction conversion rate rising again to […] [Read More]