Wholesale
Weaver retires as IAG executive director; co-chair Blake assumes the role
Wednesday, Sep. 27, 2023, 11:04 AM
Auto Remarketing Staff
Longtime auto auction industry leader Lynn Weaver has retired from his position as executive director of the Independent Auction Group. Weaver made the announcement Tuesday at the National Auto Auction Association’s World Remarketing Convention in Chicago. The move is effective immediately. Replacing Weaver is Dave Blake, who has served as IAG’s co-chairman since 2010. “It […] [Read More]
Former Tesla executive launches wholesale marketplace for used EVs
Tuesday, Sep. 26, 2023, 10:15 AM
Auto Remarketing Staff
The market for used electric vehicles is still in its infancy, but a startup founded by a former Tesla executive aims to accelerate its maturity. Plug, founded by former Tesla director of sales and delivery operations and senior manager of used cars Jimmy Douglas, is an online used-car wholesale marketplace devoted specifically to facilitate the […] [Read More]
Manheim says number of EVs processed at its auctions up 43% year-to-date
Thursday, Sep. 21, 2023, 03:02 PM
Joe Overby, Senior Editor
To get a sense of the growth in the wholesale electric vehicle market, consider this statistic shared by Cox Automotive on Thursday. The company’s Manheim operating locations in the U.S. have processed over 25,000 used EVs through the first eight months of 2023, which marks a 43% year-over-year increase. Manheim said it started building its […] [Read More]
Lane watch: All eyes on intensifying UAW strike
Tuesday, Sep. 19, 2023, 02:56 PM
Auto Remarketing Staff
The UAW strike appears to be intensifying, so dealers are taking steps to shore up their used-vehicle inventories. Black Book watched the estimated average weekly sales rate increase to 51% during the week that closed on Rosh Hashanah, with wholesale values still declining by 0.73%. Even with workers not assembling new vehicles for General Motors, […] [Read More]
NAAA Preview: Follow his lead, and make customers go ‘Bananas’
Tuesday, Sep. 19, 2023, 09:24 AM
Daryl Lubinsky, Correspondent
Dancing players. Senior citizen cheerleaders. And if a fan catches a foul ball, it counts as an out. This is not an ordinary baseball game. The Savannah Bananas are an exhibition baseball team that creates a circus-like atmosphere with its events. One of the team’s main goals: “Entertain always.” Jesse Cole, owner of the Savannah […] [Read More]
Challenges amid opportunity: The double-edged sword of EV remarketing
Monday, Sep. 18, 2023, 04:47 PM
Joe Overby, Senior Editor
When comparing an electric vehicle to a car with an internal combustion engine, think of a dolphin and a fish, says Brian Donnelly, director of partnerships at Autotech Ventures.
On the outside, the two animals look quite similar. Underneath the hood, so to speak, they’re completely different, as one is a mammal and the other a fish.
The same goes for EVs and ICE vehicles ... [Read More]
Autosled promotes longtime exec to director of enterprise sales
Monday, Sep. 18, 2023, 01:45 PM
Auto Remarketing Staff
A week after upgrading its platform, Autosled promoted one of its longtime executives to be director of enterprise sales. The provider of digital technology solutions for vehicle transport logistics announced the promotion of Sam Goldenberg to this new role on Monday. A member of Autosled’s team since the company’s launch, Goldenberg most recently served as […] [Read More]
Auction news roundup: For Kinetic and auctions, summer was all about volunteering
Monday, Sep. 18, 2023, 01:11 PM
Auto Remarketing Staff
If Kinetic Advantage was writing the traditional “How I spent my summer” back-to-school essay, it might be summed up in one word: Volunteering. Beginning in June, the floorplan provider teamed with five independent auctions across the nation on volunteer projects that gave back to their local communities to help fight hunger, support women in crisis […] [Read More]
Lane watch: Dealers continue to prep for potential UAW strike
Tuesday, Sep. 12, 2023, 03:11 PM
Auto Remarketing Staff
Black Book watched vehicle-value decreases slow by almost half last week compared to the previous week. Analysts said the reason why could arrive on Thursday. That’s when a potential strike involving manufacturing plant workers against General Motors, Ford and Stellantis could begin. Black Book said dealers are reinforcing their inventories in case a prolonged labor […] [Read More]
NAAA’s convention to focus on security, economy, workforce, EVs & more
Tuesday, Sep. 12, 2023, 02:18 PM
Daryl Lubinsky, Correspondent
Eric Autenrieth and Craig Amelung see security and workforce recruitment as some of the top issues facing the auto remarketing industry today. They also see those as top issues at their own auctions. “The biggest issue is security for us,” said Autenrieth, who is CEO of the Stanley-Autenrieth Auction Group. “You’ve got different rings that […] [Read More]