Affordability has been a focus within the automotive retail and finance spaces for some time, with Edmunds revisiting it again in the past couple of days. Well, on Tuesday, Black Book tackled the topic from the wholesale perspective, offering its analysis after watching wholesale values tick up another 0.02% during a time when prices usually […] [Read More]

Towards the end of an interview on the sidelines here at the Automotive Remarketing Alliance’s Summer Roundtable in August, John Urness was asked to name a piece of music, movie, TV show, sports moment or book that had stood out to him. After pausing for a second, Urness — who is the head of vehicle remarketing and customer loyalty at Chase Auto — pointed to the recent Summer Olympics in Paris. “It’s amazing to watch the production value of the Olympics and what makes you feel — the emotion,” Urness said. “Because not only do they draw out the realization of what's happening at that point in time, but they bring all the stories behind it.  Seeing folks participate and push themselves and everything it took to get there to do it, I think that's what sticks with me.” [Read More]

For Penny and Jiles Wanna, TPC Management is like family. In fact, it is family. The Wannas recently celebrated their 20-year anniversaries with the auto auction consulting and recruiting firm, which was founded in 1996 by Penny’s brother-in-law and sister, Pierre and Pauline Pons. Penny Wanna currently serves as TPC’s vice president of administration and […] [Read More]

The potential tug of war between the new-car and used-car departments might be surfacing not only in the showroom, but also the auction lane, too. Black Book described the current situation in its newest installment of Market Insights distributed on Tuesday. “There is a noted trend of an increasing presence of 2024 model-year vehicles in […] [Read More]

The countdown is over. The eSTART Coalition’s “countdown to 100” hit zero last week, when America’s Car-Mart became its 100th member. This week the organization announced two more additions — online auction EBlock and the Texas Independent Automobile Dealers Association. The eSTART Coalition’s mission is to modernize title and registration processes across the country by […] [Read More]

Carvana now has a second auction and reconditioning “Megasite” location. The online used-car retailer said Monday it is launching inspection and reconditioning center capabilities at its existing ADESA Houston facility, which will continue to run as an auto auction, as well. This follows Carvana’s first Megasite launch last month at ADESA Kansas City. “In bringing […] [Read More]

OPENLANE subsidiary autoniq has partnered with Auction Edge to integrate the Auction Edge Pipeline Market Report into its platform. The collaboration makes the Pipeline Market Report, which provides data-driven pricing guidance based on timely sale data from more than 175 EDGE Pipeline auctions, available for direct subscription and access by autoniq subscribers. “Dealers want quick […] [Read More]

Commercial consignor sales volumes at auctions are still beating prior-year numbers by double-digit percentages, but the growth rate in August was about half of what it was from January through July. That’s according to analysis around the latest AuctionNet data provided to Auto Remarketing by the National Auto Auction Association, which indicates that overall auction […] [Read More]

ACV may have started as a dealer-to-dealer digital wholesale platform, but the company continues to build its physical infrastructure as part of a strategy to broaden its offering to commercial consignors. And that includes the acquisition of traditional brick-and-mortar auto auctions like Alliance Auto Auctions and DAA Oklahoma City — which are just two of the entities ACV has purchased — in addition to renting land and opening greenfield sites. The company is 25% of the way towards its goal of at least ... [Read More]

Black Book noticed wholesale prices edged up only 0.01% during the week that finished on the last day of August. That reading came after a week when values stayed steady. But the newest installment of Market Insights released on Wednesday did contain six notable trends — five from an auction perspective and the other from […] [Read More]