Black Book reported another wholesale price decline happening at auctions last week, but the decrease wasn’t as significant as analysts spotted earlier this summer. During the stretch that closed on Saturday, Black Book said wholesale values softened another 0.37%, while the estimated average weekly sales rate continued to improve and ticked up to 49%. “After […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from the NIADA Convention in June is a conversation with Derek Hansen, vice president of operations for the inventory management solutions group at Cox Automotive. Hansen talks with Cherokee Media Group senior editor Joe Overby about how independent dealers can make the most of unpredictability, […] [Read More]

Perhaps if rental car companies aren’t getting quite as much in the auction lanes as they once did, they evidently are raking in notable revenue when those vehicles are in their fleets. On Tuesday, Emburse, a travel and expense management firm, announced the results of its Q2 2023 SpendSmart Travel Trends report. This quarterly report […] [Read More]

America’s Auto Auction has selected Jay Hinchman as general manager of its newly acquired Las Vegas auction. Hinchman has 25 years of experience in the auto industry, most recently as president of High Tech Locksmiths. He has also served as GM of ADESA auctions in New Jersey and Las Vegas, regional vice president of then-KAR […] [Read More]

Auction Academy has announced its latest class group and for the first time, it includes a commercial consignor. Among the enrollees in the program’s Class 8 is Reshard Taylor, a regional auction manager for Exeter Finance. Taylor has been in the auto finance servicing industry since 2007, serving in various roles in repo and remarketing […] [Read More]

Automotive industry veteran Chris Barile has been named new sales manager of Mid Kansas Auto Auction in Wichita, Kan. He will oversee the sales, fleet lease and internet sales departments. “We’re thrilled to add Chris to our leadership staff,” Mid Kansas Auto Auction general manager Trevor Ottley said. “He has a great resume and fantastic […] [Read More]

Next up on our NAAA 75th series of the Auto Remarketing Podcast commemorating the diamond anniversary of the National Auto Auction Association is a conversation with Charlotte Pyle, who was the 2012 president of NAAA. Pyle, co-owner of Capital City Auto Auction and Mountain State Auto Auction in West Virginia, is also secretary on NAAA’s […] [Read More]

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]