Perhaps it’s trouble getting parts or finding the labor to get the repair work done. Whatever the reason, Black Book auction observers noticed a distinct trend in the lanes this past week. After recapping price movements that included overall wholesale prices dropping another 1.49%, Black Book said, “One of the things we noticed this week […] [Read More]

Longtime ADESA/KAR Global/OPENLANE executive Summer Ernsberger has joined America’s Group (AAA), parent company of America’s Auto Auction and AXLE Funding, as executive director of revenue to generate the development of new products and services for the company’s growth initiatives. AAA said Ernsberger will “delve into the company’s various business segments to identify opportunities and develop […] [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features this year’s Women in Remarketing for a panel discussion led by Kathy Ruble of Ally Financial, sponsor of the award program. Listen to the episode in the window below. [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode is our next Consignor Conversations. It features Jeffrey Bulthuis of Bridgecrest, Stephanie Compton of Exeter Finance and John Urness of Chase. Listen to the episode in the window below. [Read More]

Turn Automotive co-founders Marc Steiner and Todd Folley tried to imagine what it’s like to be a used-car manager nowadays during this episode of the Auto Remarketing Podcast. Along with other observations about the wholesale market, Steiner and Folley also recapped what’s happened at their company this year, including a new partnership with TrueCar. The […] [Read More]

Ryan Clark, owner of Greater Rockford Auto Auction and Great Lakes Auto Auction, has been selected as president of ServNet during the auction group’s fall business meeting. Clark will serve a two-year term. “I am honored to serve as ServNet’s president and to collaborate with the finest group of auction owners in the country,” Clark […] [Read More]

America’s Group, which includes America’s Auto Auction and AXLE Funding, has added Ben Murdock as senior vice president of revenue to lead the company’s growth initiatives. In his new role, Murdock will be responsible for AAA’s commercial and dealer sales teams and will oversee marketing and information technology strategies. “Ben has an exceptional ability for […] [Read More]

With how turbulent wholesale prices have been in recent weeks, Black Book’s experts went to a descriptive term that might make some dealers and finance companies cringe with flashbacks about the pandemic or other challenging stretches. Yep, it seems after wholesale values dropped another 1.86% overall last week, Black Book acknowledged the market is “establishing […] [Read More]

As CEO Peter Kelly reminded listeners on an investors call Monday, there is a “high hurdle” OPENLANE must clear when making decisions regarding mergers and acquisitions. “I believe that this transaction clears that high hurdle by offering a compelling financial return, but also significantly advancing our digital strategy in one of our core markets,” Kelly said. The transaction to which Kelly refers is OPENLANE’s deal, announced late Monday afternoon, to buy Manheim Canada for $130 million (CAD), which is $95 million (USD). The deal, once it closes, includes ... [Read More]

OPENLANE has agreed to acquire the Manheim Canada business from Cox Automotive in a deal valued at $130 million (CAD), which is $95 million (USD), the company said Monday afternoon. The deal, which is subject to certain customary closing conditions, includes the Manheim Montreal facility and auction sales, operations and select staff across Manheim Canada. […] [Read More]