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]

Classic country music fans might know the 1990 song by Vern Gosdin titled, “This Ain’t My First Rodeo.” Experienced used-car managers might be singing a similar tune while navigating by spring market signs, according to the latest wholesale market recap Black Book released on Tuesday. Black Book reported overall wholesale values dipped only 0.23%, while […] [Read More]

SYCN Auto Logistics is diving into the AI era. The auto transport management platform announced the launch of its new artificial intelligence-enabled technology suite, designed to optimize every aspect of auto logistics operations — including quoting, booking, tracking and post-delivery functions — in real time. SYCN said its new system, which can be integrated into […] [Read More]

The auto market will return to normalcy in 2024, which is good news for consumers and at least more predictable for dealers. That was Cox Automotive chief economist Jonathan Smoke’s message in his State of the Industry presentation at the Cox booth during NADA. He divided the outlook into five trends. First, recession is out. 2024 will be a ... [Read More]

Black Book cited the wholesale value moves by compact cars to explain why signs of an early spring are appearing at auctions. According to its newest installment of Market Insights, Black Book reported prices of compact cars rose no matter the unit’s age. Values for compact cars 2 years old and newer rose for the […] [Read More]

The NAAA Warren Young, Sr. Scholastic Foundation announced it will open its scholarship application for the 2024-2025 academic year Feb. 20. The application, which can be found here, will remain open until March 28. The foundation said a total of $140,000 in scholarships is available for 2024-25, with 12 $10,000 scholarships — four of which […] [Read More]