The monthly index generated by Black Book showed August wholesale prices trending in a different direction than the monthly index posted by Manheim. Here’s what the experts from both operations said. The Black Book Used Vehicle Retention Index for August decreased 5.2% or 8.8 percentage points to 162.3 from the July reading of 171.1. Black Book […] [Read More]

Tom Adams got into the auction business straight out of the Navy in 1970. It was a decidedly different time for the auto auction business. “Auctions back then were independent mom and pop businesses. Entire family worked the auction,” said Adams. “Facilities were pretty meager. There was one lane and a carnival kind of atmosphere.” The association’s auction members’ facilities are now often huge or even online. As the NAAA prepares to celebrate its 75th anniversary, some things remain the same, however. It is still an organization that ... [Read More]

Dealers evidently didn’t rest much during the last unofficial weekend of summer since Black Book noticed the estimated average weekly sales rate at auction increased to 49%. Despite more vehicles heading for haulers and store lots, Black Book reported that wholesale prices declined another 1.40% during the week that closed on the Saturday of Labor […] [Read More]

ACERTUS said Tuesday it has acquired transportation and remarketing provider RCG Logistics. The move helps ACERTUS, which is an automotive logistics-as-a-service platform, expand into the salvage and repossession space and provide services to additional segments like motorsports, RVs and various oversized vehicles. The purchase is effective immediately and integrates the RCG platform under the ACERTUS […] [Read More]

The upcoming September issue of Auto Remarketing magazine will include our third annual High Performance Auto Auctions awards program, which is sponsored by CARS Recon. Through a series of recaps, this special feature will recognize the auctions that have taken home “Auto Auction of the Year”- style awards from consignors, auction groups and other industry […] [Read More]

Shelly Frank of DAA of the Southwest and DAA of the Rockies, Kelly Bianchi of AuctionVcommerce and Sheila Tedesco of Lobel Financial recently teamed up to launch the “Global Remarketing Opportunities for Women” organization. Cherokee Media Group senior editor Joe Overby caught up with all three GROW co-founders at the recent IARA Summer Roundtable, where […] [Read More]

Carvana has ended August in a position to have a lot more breathing rooming financially. The online used-car retailer said Thursday it has completed its previously announced debt exchange with more than 96% of noteholders. This gives Carvana “significant financial flexibility as it continues to execute its profitability and growth plan” through cutting total debt […] [Read More]

Manheim has partnered with Fusion Auto Finance to host its private store, allowing the provider of turnkey leasing programs for credit unions to consolidate its multiple disparate platforms into a single experience in the Manheim Marketplace. The digital store offers Fusion Auto Finance’s dealership network access to fresh off-lease inventory in one place. The company […] [Read More]

ACV has added chat to its communications options. The digital auto auction/marketplace and data services provider ACV launched a “chat experience” through its My ACV portal, expanding the on-demand support available to its customers. While the chat feature is geared toward simple transaction-related questions, ACV said in a news release, it can be used for […] [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 Jenn Leocardi, who is vice president of institutional sales at America’s Group. Leocardi has also held a number of leadership roles within NAAA. We caught up with her on […] [Read More]