Consignor Conversations: Holly Vollant of Holman
Tuesday, Sep. 17, 2024, 03:36 PM
Auction news: Bel Air auction announces staff promotions; NAAA offers training
Tuesday, Sep. 17, 2024, 04:14 PM
Lane watch: Why ‘affordability is crucial’ as wholesale prices tick up again
Tuesday, Sep. 17, 2024, 02:39 PM
Wholesale
PODCAST: A conversation with ‘Coach K’
Monday, May. 22, 2023, 02:10 PM
Auto Remarketing Staff
No, not THAT Coach K, but with Steve Kapusta of Ally and SmartAuction. In this episode kicking off our series of “live shows” from April’s Auto Intel Summit & NRC Spring Summit, Cherokee Media Group president Bill Zadeits talks with Kapusta about his successful career rising to the top of one of the industry’s most […] [Read More]
‘Seasonal adjustment’ pushes Manheim Index lower at May midpoint
Friday, May. 19, 2023, 11:54 AM
Auto Remarketing Staff
This week’s flow of industry data continued with Cox Automotive reporting wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April during the first 15 days of May. As a result, Cox Automotive said the midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from last […] [Read More]
Lane watch: Softening prices with Memorial Day approaching trigger questions
Tuesday, May. 16, 2023, 04:03 PM
Auto Remarketing Staff
In less than two weeks, it will be Memorial Day weekend and the unofficial start of summer. That timeframe coupled with last week’s trends showing wholesale prices softening another 0.15% and the estimated average weekly sales rate remaining at 49% prompted Black Book to ask questions. “Auction conversion rates remained stable last week,” analysts said […] [Read More]
NAAA 75th: Tony Moorby
Wednesday, May. 10, 2023, 02:17 PM
Auto Remarketing Staff
Next up on the “NAAA 75th” series of the podcast is a conversation between Cherokee Media Group president Bill Zadeits and longtime remarketing industry executive Tony Moorby, a 2000 inductee to the NAAA Hall of Fame. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives […] [Read More]
With IAA acquisition complete, Ritchie Bros. rebrands as RB Global
Tuesday, May. 9, 2023, 04:23 PM
Auto Remarketing Staff
Rebranding in the wholesale world continued Tuesday. Ritchie Bros. Auctioneers announced that with the successful closing of the IAA acquisition, the company is changing its corporate name to RB Global. The company said in a news release that its common shares will continue to be listed for trading on the New York Stock Exchange and […] [Read More]
Auction news roundup: Spotlighting awards & philanthropy
Tuesday, May. 9, 2023, 03:47 PM
Auto Remarketing Staff
We start this auction news roundup with annual awards from Santander Consumer USA and Chrysler Capital, who recognized their top auctions recently. The honorees were: Santander 2022 National Auction of the Year – Manheim North Carolina 2022 Retail Auction of the Year (Central Region) – Manheim Dallas 2022 Retail Auction of the Year (Midwest Region) […] [Read More]
Lane watch: ‘Tipping point’ arrives in wholesale market
Tuesday, May. 9, 2023, 02:50 PM
Auto Remarketing Staff
If you have interested vehicle purchasers who can get financed, perhaps your store inventory acquisition costs and potential gross profit might be improving. Black Book said on Tuesday that the arrival of May seems to have brought a potential “tipping point” since overall wholesale prices declined for the first time since early February. According to […] [Read More]
NAAA 75th: Lynn Weaver of Independent Auction Group
Thursday, May. 4, 2023, 03:26 PM
Auto Remarketing Staff
Cherokee Media Group has launched an “NAAA 75th” series of its Auto Remarketing Podcast, which commemorates the diamond anniversary of the National Auto Auction Association. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives and other wholesale industry leaders, who will discuss what the association means […] [Read More]
Rebranding as OPENLANE brings opportunity, efficiency & ease
Wednesday, May. 3, 2023, 05:28 PM
Joe Overby, Senior Editor
In 2019, as OPENLANE was celebrating its 20th anniversary, Jim Hallett — who at the time was CEO of then-KAR Auction Services — looked back on the company’s 2011 acquisition of OPENLANE as an “inflection point” for KAR that “changed our company overnight.”
“Over the years, of all the acquisitions we did, I would look at OPENLANE as being one of the most transformative acquisitions we made in the history of our company,” Hallett said in a January 2019 phone interview. “And we went from being a laggard to a leader with the acquisition of OPENLANE.
“And it didn’t change our company only because we sold more cars. It changed our company because of ... [Read More]
US AutoLogistics expands affiliated company to gain more transportation business
Wednesday, May. 3, 2023, 03:30 PM
Auto Remarketing Staff
US AutoLogistics, an auto transport provider headquartered in Houston with origin points and terminal locations throughout the South, announced the expansion of its affiliated company, USAL Solutions. The company said in a news release that the move reflects USAL’s evolution and its strategic diversification as it recognizes its 10th anniversary this year. Originally established in […] [Read More]