During the company’s recent earnings call to announce fourth-quarter and full-year 2022 results, Jason McClenahan, CEO of EBlock parent E Inc., explored the current wholesale environment, offering insight on conversion rates, pricing, demand and more. McClenahan said that revenue for EBlock was up due in part to the auction transactions completed in the past 12 months, as well as ... [Read More]

As we begin to wind down our series of podcasts from NADA Show 2023 earlier this year in Dallas, Randy Barone of ACV joins the show. Barone and Cherokee Media Group’s Joe Overby discuss Barone’s used-car workshop at NADA, how dealers can adapt to market fluctuations and ACV’s new “TEC Talks.” The podcast can be […] [Read More]

Auto Auction Services Corp., will see one of its entrenched executives leave the company at midyear. More widely known as AutoIMS, the company announced on Wednesday that Joe Miller is stepping down from his position as executive vice president of client success, effective June 30. AutoIMS highlighted Miller’s impact on the company and the remarketing […] [Read More]

The previously announced merger involving IAA and Ritchie Bros. Auctioneers is going forward. After a special meeting on Tuesday, IAA announced that its stockholders adopted the merger agreement providing for the stock and cash acquisition of the company by Ritchie Bros. A news release indicated Ritchie Bros. shareholders also conducted a separate special meeting on […] [Read More]

Next up on our list of NADA Show 2023 episodes of the Auto Remarketing Podcast, ACV CEO George Chamoun returns to the podcast for a discussion about what’s on the company’s radar for 2023, the diversification of the ACV business model, electric vehicles and much more. The podcast can be found in the window below. […] [Read More]

KAR Global has a clear digital focus. Also, the company has paid down the majority of its debt. “We have meaningfully reduced our cost structure,” said KAR chief executive officer Peter Kelly. Those three items were part of a list of ways that KAR is positioned differently at the beginning of 2023 than it was at the beginning of 2022. It was one of various lists Kelly used to make his points during KAR’s fourth-quarter 2022 earnings call that took place on Feb. 22. Also, on that list of differences from the beginning of 2022 ... [Read More]

The last time Black Book saw this large of a jump in wholesale values in a single week, we were gearing up for Used Car Week and Thanksgiving. In 2021. According to Black Book’s newest installment of Market Insights, wholesale values rose 0.44% during the week that closed on Saturday. Analysts said the last time […] [Read More]

SIXT USA said on the last day of February it was bringing its luxury vehicle rental operation to the nation’s capital. Then on Monday, SIXT revealed exactly what day its branch would open at Ronald Reagan Washington National Airport (DCA) in Washington, D.C. The company said the branch will start operations on April 1 serving […] [Read More]

You could say that Holman is giving itself a technology tune up since its newest executive previously served in a leading role with the company that owns Pep Boys. On Thursday, Holman announced that Jarrod Phipps has joined the company as executive vice president and chief information officer. In his role as chief information officer, […] [Read More]

Work Truck Solutions finalized a pair of moves this week aimed at keeping its presence strong in the commercial-vehicle space. First, Work Truck Solutions expanded its strategic partnership with Crestline Auto Transport, a premier nationwide vehicle shipping and logistics company. Then, Work Truck Solutions launched its updated upfitter software suite, plus released its 2023 upfitter […] [Read More]