Perhaps dealers aren’t paying as much for a vehicle at auction, but they might be spending a bit more in reconditioning to get that unit to stand tall on their retail lot. That’s two of the observations from Black Book’s team, which reported that wholesale values dropped another 0.53% last week even while the estimated […] [Read More]

June showed “more precipitous” declines in wholesale vehicle prices than May, and that drop-off has not let up so far this month, says ADESA chief economist Tom Kontos in his latest monthly report. Citing data from ADESA US Analytical Services, the Kontos Kommentary report released Friday said average wholesale vehicle values in June were at […] [Read More]

Dealer Trade Network, an inventory optimization system for new car dealerships, has partnered with Automotive Ventures’ DealerFund and added Steve Greenfield as a strategic advisor to the company. Dealer Trade Network said the Automotive Ventures DealerFund has “the most progressive, technology-driven dealership principals as limited partners,” and cited Greenfield’s “extensive industry expertise” as an asset […] [Read More]

Doug Hadden, VP of field operations for ACV Auctions, returns to the show to talk with Cherokee Media Group senior editor Joe Overby during last month’s NIADA Convention. They discuss Hadden’s presentation on how dealers can “use data to acquire the best cars for your lot,” preparing for market volatility, challenges and opportunities for independent […] [Read More]

The off-rental lane at your favorite auction might have a notable selection of electric vehicles from Hertz during a future sale stemming from the rental-car company’s latest push of EVs. This week, Hertz hosted what it called one of the largest-ever EV test drives in the country, giving rental customers and rideshare drivers the chance […] [Read More]

That “summertime slowdown” Black Book previously mentioned is intensifying quickly, as analysts spotted the largest single-week wholesale value drop since mid-January. According to the newest installment of Market Insights, Black Book reported that wholesale prices sunk 0.73% last week even as the estimated average weekly sales rate improved “slightly” to 47%. “Sellers are beginning to […] [Read More]

Cox Automotive is taking its Upside out west. After a year of aggressive expansion in the Eastern U.S., Cox Automotive has launched its Upside wholesale solution in California. Upside combines three Cox Automotive brands — Kelley Blue Book Instant Cash Offer, vAuto and Manheim Marketplace — using a data-driven approach designed to help dealers take […] [Read More]

For the third consecutive year, the Enterprise Holdings ROAD Forward initiative is awarding grants to more than 600 local nonprofit organizations as part of Enterprise’s five-year, $55 million ROAD Forward commitment. This year’s round of grants to local nonprofits, totaling more than $7 million, will be distributed from the organization’s 70-plus operating groups in the […] [Read More]

Third-party logistics brokerage Montway Auto Transport has partnered with digital remarketing technology provider Auction Edge to make transportation ordering for auction purchases accessible through EDGE Pipeline. The company said its “one-click” solution for vehicle transport in now available at select auctions within the platform. The collaboration is designed to enable dealers to efficiently manage their […] [Read More]

Black Book observed signs of what analysts called the “summertime slowdown,” as last week included the Fourth of July. While some auctions and dealers might have backed off a bit because of the holiday falling on a Tuesday, Black Book still saw another 0.47% decline in wholesale values. Analysts added the estimated average weekly sales […] [Read More]