As an added benefit for Cherokee Media Group Premium Members, we are offering special episodes of the Auto Remarketing Podcast featuring general sessions from Used Car Week in November. Our first special episode features the "Auction Technology Part I: Digital Platform Executives Talk Industry Evolution" panel discussion, which included Justin Davis of BacklotCars, Steve Kapusta of […] [Read More]

Black Book didn’t spot any post-Thanksgiving surprises in the wholesale market. According to its newest installment of Market Insights, wholesale values decreased 0.72% last week; an amount just 10 basis points below the average decline Black Book recorded during the same week in [Read More]

Copart has named a new chief financial officer and chief legal officer, the company said in a news release Saturday. Hired for the CFO role is Leah Stearns, who most recently held that same position at CBRE, which is in the commercial real estate services and investments space. Named chief legal officer and corporate secretary […] [Read More]

Digital technology is revolutionizing the auction process, making it much more efficient and accurate, said participants on two panels during Used Car Week. The move to a fully digital auction process is inexorable, said Steve Kapusta, who is senior vice president of Ally Remarketing Services at Ally SmartAuction. “You can’t slow (it) down. It is seamless […] [Read More]

In this wide-ranging conversation at Used Car Week last month in San Diego, Forrest Dougan — who is senior director of business intelligence at KAR Global — talks with senior editor Joe Overby about dealers using data in wholesale decision-making and where data science is headed next. Plus, Dougan, who worked at Zillow prior to […] [Read More]

LeasePlan USA and Wheels Donlen have completed their merger. Athene Holding Ltd. was the lead investor in the transaction and is the majority shareholder of the combined company. Leading the combined company is CEO Shlomo Crandus, while Matt Dyer — who had been CEO of LeasePlan USA — will be president and a board member. […] [Read More]

America’s Group CEO Cam Hitchcock plans to step down from his post and retire from the company on Dec. 31, the auction group said Thursday. Executive vice president and chief revenue officer Chuck Tapp will become CEO. XLerate Group acquired the America’s Auto Auction group late last year and rebranded the 16 XLerate auctions with […] [Read More]

Thanksgiving dinners with family and friends likely provided the main ingredient for a wholesale market recipe that prompted Black Book to report the lowest amount of value decline analysts have seen since the third week of July. Black Book’s newest installment of Market Insights indicated that wholesale prices softened by just … [Read More]

Mike Albert opened the week by naming a new president on Monday, welcoming Marty Kuhn, who the fleet, leasing and management services company said is a strategic leader with nearly 20 years of experience in both the direct-to-consumer and business-to-business spaces. The company also said through a news release that Marty Betagole will remain in […] [Read More]

CarGurus chief executive officer Jason Trevisan said the company’s third-quarter financial metrics “fell short of the low end of our guidance range” as the company did not adapt its wholesale operations to what Trevisan described as “rapidly evolving macro market challenges.” He said the shortfall was driven exclusively by the company’s digital wholesale business. However, […] [Read More]