On Wednesday, RoadRunner Auto Transport introduced artificial intelligence  and machine learning to optimize planning and pricing for vehicle shipping. The company highlighted AI and ML will significantly reduce delays and improve the cost and efficiency of the vehicle shipping process. Through a news release, RoadRunner explained that its AI and ML algorithms can analyze real-time […] [Read More]

The National Auto Auction Association is hosting an industry standard training session next month at Greenville Auto Auction that will delve into damage analysis and condition reports. The course, set for April 11-12 in Greenville, N.C., will include the following topics, NAAA said: Condition report-related disclosures and announcements for buyers and sellers Imaging and best […] [Read More]

Cue the theme music from the “The Jeffersons” as a backdrop for the current wholesale market. Prices and sales rates are “movin’ on up!” Black Book recapped in its newest installment of Market Insights that wholesale values rose another 0.49%. For context, analysts noted that the average movement during the same weeks in 2017-2019 was […] [Read More]

Wholesale vehicle prices have started March on the strong side — at least sequentially. Though softer than year-ago levels, values in the first half of the month were up 1.8% from February when adjusted for mix, mileage and seasonality, according to Cox Automotive’s mid-month reading of its Manheim Used Vehicle Value Index. The index, which […] [Read More]

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]