Wholesale
BacklotCars charity auction generates $183K for Canine Companions
Monday, Jan. 30, 2023, 07:52 PM
Auto Remarketing Staff
BacklotCars had one of the most active booths on Saturday during NADA Show 2023 in Dallas. That company that’s part of KAR Global auctioned off a 100% electric, liquid black LiveWire One motorcycle, raising more than $109,000 for the NADA Foundation’s Frank E. McCarthy Memorial Program that benefits Canine Companions. Canine Companions is a non-profit […] [Read More]
Roundup of NAAA action at NADA Show 2023
Monday, Jan. 30, 2023, 06:01 PM
Auto Remarketing Staff
It was a busy week for the National Auto Auction Association, which hosted its annual Total Access event Wednesday and Thursday in conjunction with NADA Show 2023 in Dallas. And on Saturday, the group’s NAAA Foundation presented a $75,000 donation to the National Automobile Dealers Association’s Workforce Initiative, which began in 2019 as a way […] [Read More]
ADESA president Hammer to leave company, will become CEO of Spectrum Automotive Holdings
Sunday, Jan. 29, 2023, 04:10 PM
Joe Overby, Senior Editor
Auto Remarketing has learned and parent company Carvana has confirmed that ADESA president John Hammer is leaving the company Friday. Hammer has been named the CEO of Spectrum Automotive Holdings Corp., according to a news release from Spectrum, and will start Feb. 6. “John’s dedication to his team and customers has been instrumental in building […] [Read More]
EBlock & parent company sign deal to buy Houston Auto Auction
Thursday, Jan. 26, 2023, 01:45 PM
Auto Remarketing Staff
Continuing its “land meets tech” strategy, EBlock is buying another auto auction, this time in Texas. The dealer-to-dealer online wholesale platform and its parent company E Inc. announced Thursday they have signed a deal to purchase Houston Auto Auction for $5.5 million in cash. The first $2.5 million would be payable at closing and then […] [Read More]
CarMax to use UVeye for automated wholesale inspections at online auctions
Tuesday, Jan. 24, 2023, 04:01 PM
Auto Remarketing Staff
CarMax will utilize the services of UVeye to automate vehicle inspections within its auction operations and provide AI-enhanced condition reports for wholesale buyers. In a news release Tuesday, UVeye said CarMax — which has been an investor in the company since 2021 — will use its inspection technology through a licensing agreement between the companies. […] [Read More]
KAR integrates BacklotCars, CARWAVE into one digital platform
Monday, Jan. 23, 2023, 08:25 PM
Auto Remarketing Staff
KAR Global said Monday that its CARWAVE and BacklotCars products have integrated into a single digital platform, which is hosted on BacklotCars. The platform offers both a live auction (currently held on Mondays and Thursdays) and a 24-7 marketplace, giving dealers flexibility, along with more inventory access for buying dealers and a deeper buyer base for […] [Read More]
NADA session tackles new strategies for digital-first wholesale world
Monday, Jan. 23, 2023, 01:29 PM
Sarah Rubenoff, Correspondent
Winning strategies in a digital-first wholesale world: that will pique the interest of dealers, especially in this difficult pre-owned retail environment. If that’s you, consider attending the Cox Automotive session exploring the topic at this week's NADA Show 2023 in Dallas. Auto Remarketing spoke with both session leaders: Connie Suozzo, Cox Automotive’s vice president of Manheim […] [Read More]
Manheim buys Synthetik’s undercarriage imaging technology
Monday, Jan. 23, 2023, 12:00 PM
Auto Remarketing Staff
Manheim has acquired the undercarriage imaging technology of Synthetik Applied Technologies, the auction company said Monday. Manheim partnered with Synthetik in 2022, installing close to 40 of its undercarriage imaging devices at 26 of its auctions and captured some 500,000 images. The devices are affixed to the ground and take digital photographs of a vehicle’s […] [Read More]
Hybrid valuations beat EV and gas vehicles at online auction platform ACV
Friday, Jan. 20, 2023, 02:51 PM
Alysha Webb, Correspondent
When gas prices shot up in the first half of 2022, so did demand for used electric vehicles. Their auction values rose accordingly. Used hybrid values also rose as demand for less gas-hungry vehicles surged. When gas prices began to ease, EV values at auction also softened, George Chamoun, CEO of online auction ACV, tells […] [Read More]
PREMIUM PODCAST: What’s happening in vehicle consignment – Part II
Friday, Jan. 20, 2023, 02:26 PM
Auto Remarketing Staff
As an added benefit for Cherokee Media Group Premium Members, we are offering special episodes of the Auto Remarketing Podcasts featuring general sessions from Used Car Week in November. Our next special episode features the second in a two-part series on "What's Happening in Vehicle Consignment." Moderated by Cherokee Media Group's Nick Zulovich, this panel […] [Read More]