CarGurus has gone all in on CarOffer, closing its deal to take over 100% ownership of the digital wholesale platform in December. But, the company said in its fourth-quarter 2023 earnings call, getting a return on that investment is going to take time. CarGurus’ digital wholesale operation recorded ... [Read More]

Next up on our series of Auto Remarketing Podcast episodes from NADA Show 2024 earlier this month in Las Vegas is a conversation with Derek Hansen, vice president of operations, inventory and management solutions at Cox Automotive. Listen to full conversation in the window below and stay tuned for more from NADA Show 2024. [Read More]

For the second time this month, OPENLANE made an announcement involving an executive’s retirement. The one to surface on Tuesday involved Mike Eliason, the company’s treasurer and vice president of investor relations. OPENLANE said Eliason is retiring after more than 25 years at the company, effective June 1. According to a news release, Eliason will […] [Read More]

If your store specializes in high-line vehicles, the auction scene might look more appealing. But if you recently took several luxury trades that now need to go down the lanes, the wholesale market might be a little rough, even as Black Book sees more intense signals of the annual spring market. Black Book reported overall […] [Read More]

America’s Auto Auction Charleston has brought Daniel Buttrey on board as its new digital sales executive. In a news release, the auction said he’ll focus on “assisting clients in growing and expanding their digital platform to enhance their business operations.” Buttrey comes from an auto industry family that has owned a dealership in North Charleston, […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from NADA Show 2024 earlier this month in Las Vegas is a conversation with OPENLANE CEO Peter Kelly, who joins Cherokee Media Group’s Joe Overby for a wide-ranging conversation. OPENLANE is coming off a year in which its operating revenues climbed from $1.52 billion to […] [Read More]

In two separate investor notes this week analyzing the respective earnings results of ACV and OPENLANE, John Healy of Northcoast Research describes the wholesale vehicle market as “thawing.” This melting “ice,” so to speak, should come as a warm welcome to the overall used-car ecosystem, which has dealt with an avalanche of up-and-down prices and is in dire need of liquid assets (i.e. pre-owned supply for dealer lots). “Q4 financial results from ACV were reflective of our view that wholesale industry pressures are ... [Read More]

Late on Wednesday afternoon, ACV announced the settlement of its antitrust litigation related to the AutoIMS technology platform as well as against the National Auto Auction Association. In the summer 2022, ACV filed suit after the company was unable to secure a license from AutoIMS, which serves the wholesale automotive remarketing industry with a tool […] [Read More]

Dealer Trade Network has unveiled its new headquarters. The new 17,500-square foot facility in Louisville, Ky.’s Eastpoint Business Center was officially opened Tuesday with a grand opening and ribbon-cutting ceremony featuring a dedication proclamation by Mayor Craig Greenberg. Guests at the ceremony were given a tour of the building, which the company said showcased its […] [Read More]

There has been less than a percentage point of change in wholesale vehicle values since January, but prices are showing significant declines across the board when compared to early 2023. And this softening has occurred even though wholesale vehicle supply is “relatively tighter for this time of year,” Cox Automotive said in analysis accompanying a […] [Read More]