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]

GM Financial announced its Auction of the Year winners on Wednesday, spotlighting five regional honorees and one overall Most Valuable Auction of the Year winner. Starting with the 2022 Regional Auction of the Year Winners, those included: America’s Auto Auction Columbus Fair in Obetz, Ohio Southern Auto Auction in East Windsor, Conn. America’s Auto Auction […] [Read More]

A popular college basketball tournament has been happening this month that’s often associated with the description, “madness.” The wholesale market might not be quite to that level, but used-car managers certainly are having to pay more for vehicles at auction. According to Black Book’s newest Market Insights, wholesale prices jumped another 0.51% during the week […] [Read More]

Two independent auto auctions have new general managers. Starting with Carolina Auto Auction, ServNet announced Friday that Vann Humphrey is now GM of the auction, which is one of two in the Stanley-Autenrieth Auction Group. Eric Autenrieth will become CEO of the group and is set to become NAAA president this fall. Humphrey has been […] [Read More]