Element Fleet Management and Blackstone Credit & Insurance announced they have have entered into a strategic funding relationship, in which funds managed by Blackstone through its Infrastructure & Asset-Based Credit group are providing capital involving a portfolio of Canadian fleet lease receivables valued at approximately $500 million Canadian. “Element is committed to optimizing our funding […] [Read More]

The electric vehicle (EV) market continues to show continued growth, driven by consumer demand for environmentally friendly transportation options and supported by government incentives. As of the fourth quarter of 2024, used EV sales have surged by 62.6% compared to the previous year, according to Cox Automotive, making them a highly sought-after commodity for auto […] [Read More]

The National Auto Auction Association’s Ron Hope Memorial Scholarship has another recipient. Fredrick “Frankie” Lingle, fleet manager of Greensboro Auto Auction, has been awarded the scholarship to Auction Academy, joining Greater Rockford Auto Auction’s Abigail Balk, who became its inaugural recipient in December. The association said Lingle will participate in the academy’s Class 9, which […] [Read More]

The modest springtime appreciation consignors and dealers see annually is already starting to surface, especially when examining some specific vehicles less than 2 years old. That’s one of the main findings from this week’s Market Insights from Black Book, which is also watching for price shifts that can be attributed to tariffs. All told, analysts […] [Read More]

RB Global — the company which includes IAA, Ritchie Bros. Auctioneers, DDI Technology, Xcira and other entities — released fourth quarter and full-year 2024 results as its headliner event, the Orlando mega-auction, was underway. The results impressed analysts. “Q4 financial results from RB Global were ... [Read More]

SIXT USA has continued to grow its footprint. But this time, it is related to general operations of the rental car company. On Tuesday, SIXT announced it’s planning to open a new office in Tulsa, Okla. As part of SIXT’s global strategy to enhance capabilities in key markets around the world, the company highlighted the […] [Read More]

If you’re looking for automotive gossip, the wholesale market likely isn’t the place for it at this juncture. Overall prices softened by 0.33% last week, according to the newest Market Insights from Black Book. That value movement is within 4 basis points of a week earlier and the average spotted during the same week in […] [Read More]

The National Auto Auction Association’s Cybersecurity Task Force says auctions need to beware of cockroaches. But not the insect kind. The task force’s latest educational resource provides examples of real-life incidents to spread awareness of cybercrime and fraud, while also showing NAAA members how to protect their businesses from persistent criminals. “There are many bad […] [Read More]

Black Book reported wholesale values softened by 0.36% last week, a reading consistent with the previous week and the average spotted during the same week before the pandemic. However, analysts are bracing for impact of the much-ballyhooed tariffs orchestrated by President Trump. “Despite the uncertainty introduced into the market last week due to the president’s […] [Read More]

It’s likely to be a more moderate and steady year overall, but what a start to 2025 for wholesale auction sales volume. Last month marked the strongest January for auction sales in five years, according to the latest AuctionNet data and analysis from the National Auto Auction Association, and growth was especially noticeable for late-model […] [Read More]