The experts at Black Book and Cox Automotive are seeing wholesale prices and auction sales rates decline this month. The severity of those movements depends on which report you examined on Tuesday. Beginning with Market Insights from Black Book, wholesale values softened another 0.82% last week, which was … [Read More]

ADESA said Monday it has named new general managers at its Chicago, Salt Lake and Los Angeles vehicle logistics centers. Appointed to those positions are Ted Coates (ADESA Chicago), Scott Crane (ADESA Salt Lake) and Jesse Estrada (ADESA Los Angeles). “We’re very pleased to fill these pivotal positions with strong internal candidates who bring deep […] [Read More]

As previously reported in Auto Remarketing, there were more than 52,000 reports of stolen catalytic converters in 2021, which was a 13-fold increase from 2019, according to the National Insurance Crime Bureau (NICB). ACV is looking to help dealers have more confidence that their next piece of inventory hasn’t been impacted by criminals with its […] [Read More]

There are three types of vehicles that have either started arriving in the auction lanes or are likely to do so soon, with each speaking to a larger industry trend — those being flooded vehicles, repossessions and model-year 2023 cars. Black Book spoke to these trends in its latest weekly Market Insights report, recapping the week […] [Read More]

Hyundai Glovis, the logistics arm of Korean conglomerate Hyundai Group, has acquired a family-owned automotive auction in Pennsylvania. It is the first acquisition in a national wholesale to retail business Hyundai Glovis plans to build in the United States. “In Korea, Glovis is the largest auction house. The US is the largest used-car market in […] [Read More]

The timeframe for data included in the newest Market Insights from Black Book coincided with the first day of October. That week also included Hurricane Ian smashing into Florida before drenching the Carolinas and other parts of the East Coast. With the resulting flooding likely destroying an undetermined number of vehicles, Black Book’s analysts are […] [Read More]

On Tuesday morning, Cox Automotive gave a positive update about the status of Manheim operations in Florida in the path of Hurricane Ian. Tim Janego, Manheim regional vice president for Southeast, said in a message to Auto Remarketing, “We are grateful to share that all Manheim employees in the path of Hurricane Ian are safe […] [Read More]

With the industry surveying damage in Florida as businesses in Georgia and the Carolinas brace to be in the storm’s path, the National Auto Auction Association (NAAA) made a call to help places impacted by Hurricane Ian. NAAA said in an industry message sent on Friday morning that association leadership had been in contact with […] [Read More]

Nearly 62% of the used electric vehicles available on the retail market are Teslas, with the next-closest competitor (Nissan) having a 6.6% share, according to Autonomy’s debut EV Market Report released earlier this month. That’s part of why the number of EVs flowing into wholesale auctions has remained small, as Tesla’s used vehicle tend to […] [Read More]

Dent Wizard International has named a new chief financial officer. Hired for the position was Bryan Wynn, who comes over from Bain Capital, where he worked 12 years. Wynn’s most recent post at Bain was as an executive vice president supporting the company’s investment in Dealer Tire LLC, which is the parent company of Dent […] [Read More]