There may not be any sector in the auto industry where reconditioning is more important than the auction business. When cars flow through the physical lanes or online sales, it is key they are in top condition to catch potential buyers’ eyes.  This is especially true as the digital auto auction industry continues to grow at a lightning pace. Strong reconditioning services can put buyers’ minds at ease, even if they can’t kick the tires before making a purchase ... [Read More]

The holidays of Passover and Easter just happened, so perhaps potential spring breaks associated with those celebrations might have influenced what unfolded in the wholesale market last week. That’s part of the analysis provided by Black Book through its newest installment of Market Insights, which noted that wholesale prices rose 0.43% during the week that […] [Read More]

In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program, sponsored by Ally, has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week. For more than a decade, Women in Remarketing has recognized excellence among the leaders of the […] [Read More]

Last week, Vehicle Acquisition Network (VAN) announced rebranding of its suite of solutions to better reflect their capabilities and provide room for growth. The private party acquisition solution for dealerships highlighted that the VAN suite of solutions now includes: FUEL, CONVERSE, ENGAGE, and NAVIGATE. The company recapped what each tool can do VAN FUEL can […] [Read More]

While still a relatively small piece of the overall wholesale market, the tide is turning for electric vehicles at auction. There were close to 9,800 electric vehicles sold through Manheim’s wholesale channels in the first quarter, an all-time high. It also beat year-ago figures by 40% and was 82% higher than Q1 of 2021, parent company Cox Automotive said during a presentation last week around the latest Manheim Used Vehicle Value Index. The 9,796 EVs sold through Manheim in Q1 also ... [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  When it comes to giving buyers and sellers accurate information about the condition of vehicles being offered for sale, auction companies are leading way with innovative artificial intelligence and machine learning technology coupled with traditional hands- and eyes-on inspections. Doug Hadden, ACV vice president of field initiatives, said it boils down to this ... [Read More]

You might have seen plenty of spoof posts on social media about various topics in connection with April Fool’s Day. But Black Book emphasized the wholesale value gains seen during the week that closed on April 1 certainly are not a joke. According to the latest installment of Market Insights, wholesale prices rose another 0.51%, […] [Read More]

To kick off the return of Auto Remarketing’s “4 Questions With” series of Q&As with industry executives, we connect with Jim Hallett, who last week retired as KAR Global’s executive chairman after more than two decades with the company. The following Q&A with Hallett is available to CMG Premium subscribers ... [Read More]

KAR Global executive chairman Jim Hallett is retiring, the company said Friday. Hallett, also a philanthropist, hockey team owner and award-winning industry executive, has been with the company in various eras, iterations and roles for more than 25 years. He steps down from his positions as executive chairman and chairman of the board of directors […] [Read More]

The number of vehicles entering the lanes at NAAA-member auctions fell 7% year-over-year in 2022 and the number of units sold dropped 4%, but here’s some good news for their consignor partners: average price per unit climbed 4% and hit an all-time high. That’s according to the annual industry survey from the National Auto Auction […] [Read More]