Don't let the improvement in off-lease volumes in the wholesale vehicle market fool you.  At least take these gains with a grain of salt.  Numbers in this segment are expected to take a hit in the second half of 2024 and are not likely to return to pre-pandemic levels any time soon.  Here's how the numbers shake out:  Looking at year-to-date auction check-ins at Manheim locations through the first half of the year, lease check-ins have climbed 94% year-over-year, but trail 2019 levels by 58%, data from Cox Automotive shows.  Industry-wide, the number of off-lease units ... [Read More]

If your dealership needs used inventory, now appears to be prime time to find what you need at lower prices. But your store might be the outlier stemming from the combination of trends included in the newest installment of Market Insights from Black Book. Analysts reported on Tuesday that wholesale prices dropped another 0.74% last […] [Read More]

If the series of developments is an indication of its 2024 to-do list, DriveItAway Holdings is making the kind of steady progress that reinforce social media memes about business productivity. The latest move came last week when the company that offers “micro-lease to purchase” technology announced that it has partnered with Corporate Claims Management to […] [Read More]

Digital wholesale used-vehicle marketplace OPENLANE has promoted senior director of corporate finance Itunu Orelaru to head of investor relations. Orelaru, who will report to executive vice president and chief financial officer Brad Lakhia, will be responsible for communicating OPENLANE’s vision, transformation and growth to stockholders and the financial community, the company said. “With her diverse […] [Read More]

ServNet has added a former NAAA manager to help its auctions create events. Ana Williams, who spent four years with the National Auto Auction Association as education and training manager and association services coordinator, has joined the independent auction network as director of meetings and events. “Many of us at ServNet worked with Ana in […] [Read More]

Cox Automotive took another step toward the future of its reconditioning operations last week with the grand opening of its newest auto tech training center at Manheim Chicago. The facility is Manheim’s fifth ATTC, joining training centers at Manheim locations in Southern California, Central Florida, New Jersey and Dallas. Cox announced plans to open the new […] [Read More]

Ship.Cars is getting real. The auto logistics technology provider announced the addition of a real-time tracking/status link feature designed to give end customers updates on their vehicle shipments from dispatch to delivery, with 24/7 access to shipment status and locations. The company said the new feature, typically only available from last-mile delivery services in the […] [Read More]

The National Auto Auction Association’s arbitration policy and certification guidelines have gotten a few upgrades. NAAA’s Auction Standards Committee has issued updates to those documents. NAAA said the changes, which will take effect Aug. 5, were made to “add clarity, improve transparency and better reflect the evolving nature of the industry.” The association said the […] [Read More]

Soaring commercial consignor volumes continue to drive overall auction sales, which climbed slightly from year-ago figures in June and are up 8% through the first half of the year. That’s according to AuctionNet data from the National Auto Auction Association provided to Auto Remarketing on Friday. There were 521,978 units sold at auto auctions in […] [Read More]

Next up on our “Consignor Conversations” series of the Auto Remarketing Podcast is an interview with George Koditek, who is manager of fleet remarketing at Hyundai/Genesis Motor North America. Koditek sat down with Cherokee Media Group senior editor Joe Overby during the Auto Intel Summit + National Remarketing Conference in April to discuss his journey […] [Read More]