After retiring from ADESA a little more than a year ago, Tom Kontos is back in the auction business. Auto Auction Holdings president Joaquin Muvdi announced on Tuesday that Kontos joined its executive leadership team as the analytics advisor. Established in 2003 and based in Fort Lauderdale, Fla., AAH is a provider of auto auction […] [Read More]

Steady prices and stable volume. That’s the crux of information from the first 15 days of September included in the mid-month Manheim Used Vehicle Value Index, which technically increased from 207.4 in August to 207.5 at this month’s midpoint. While the month-over-month change in wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) […] [Read More]

America’s Group, which has been among the market leaders in auction M&A as of late, is aiming to boost its physical auction count to 60 in the near-term, says Chuck Tapp, CEO of America’s Group. The auction group, which currently has 46 physical locations along with a handful of mobile auction sites, is eyeing “sometime […] [Read More]

In the wake of gaining full ownership of Alliance Inspection Management this month, Cox Automotive is moving to up its inspection game. Cox’s Manheim Auctions has announced the formation of two new teams designed to “deliver a seamless, unified experience” for dealers and commercial clients across all channels. The Manheim Mobile Inspections team — which […] [Read More]

Cox Automotive is bringing its fleet businesses together. The industry giant announced it is merging its Fleet Services and FleetNet America brands into one fleet organization, effective Jan. 1, a “strategic alignment” Cox called a major step forward in its long-term commitment to the fleet industry. “Cox Enterprises has a 127-year legacy of innovation, transforming […] [Read More]

Black Book said on Tuesday its estimated used retail days to turn is now at roughly 36 days. Perhaps, as a result, Black Book saw buyers being “more selective” in the lanes last week, as auction conversion rates have eased since Labor Day, but remain above 60%. Overall, Black Book reported in its latest installment […] [Read More]

Eddie Lafferty’s auto industry career began when his friend’s grandfather asked him to help manage his Porsche dealership. “I ended up doing very well and sold out his cars, and then it kind of led to a life in retail,” Lafferty said. He eventually moved to wholesale and is currently general manager at Manheim Seattle. […] [Read More]

In an industry that is mostly dominated by large auction chains and independent auction owners, the McConkey Auction Group is one of a few small auction groups that are making big strides in the auction business. CEO Bob McConkey opened his first auction in 1992 in Spokane, Wash., and since then has bought and sold […] [Read More]

Auction Academy’s support from the auto remarketing industry continues to grow. TPC Management Company’s executive development program announced three additions to its network of 22 industry sponsors: AuctionNet, a provider of wholesale used vehicle remarketing data backed by the National Auto Auction Association’s 265 member auctions; transportation logistics company RunBuggy; and Pinnacle Remarketing Powered by […] [Read More]

Perhaps you, too, had a little trouble getting back in the swing of things after Labor Day weekend. Black Book spotted a similar scenario unfolding at the auction since wholesale values dipped by 0.21% and last week’s auction conversion rate ticked down to 61%. Meanwhile, dealers might not have had much of a holiday break […] [Read More]