OPENLANE’s investments in technology and customer-centric enhancements aimed at making it easier for buyers and sellers do business on its wholesale used-vehicle digital platform are paying off — especially in its U.S. marketplace, said the company’s CEO, Peter Kelly. The company grew its overall marketplace segment volume by 24,000 vehicles (or 7%) and its marketplace revenue increased 5% to $336 million in the quarter that ended June 30 when compared to the year-ago quarter, said Kelly during OPENLANE’s second quarter earnings call on Aug. 7. OPENLANE’s overall marketplace segment ... [Read More]

Motus, a provider of vehicle reimbursement and risk mitigation services, has joined with Flexco Fleet Services in a strategic partnership designed to support businesses in transitioning from company-owned fleet vehicles to reimbursing employees for the business use of their personal vehicles. In a news release, Motus said the collaboration will add to its onboarding services […] [Read More]

There’s an element of change at the top of one of the world’s largest automotive fleet management companies. Element Fleet Management announced two leadership transitions in its executive team, with chief operating officer and 20-plus-year company veteran Jim Halliday assuming the role of vice chair and Ian Oncea is moving up to replace Halliday as […] [Read More]

Gulf States Toyota continues to expand its leadership team with the addition of a new senior vice president. The company announced it has named Toyota Motor North America executive Jeff Buchanan as SVP of strategy, talent and culture, effective Sept. 3. He will be tasked with “driving innovation and enhancing GST’s tech-forward strategy” as well […] [Read More]

EpiCar.ai, a platform designed to connect auto dealers with private car sellers, has launched daily car auctions, with vehicles going live every day to give dealers “constant access to a varied inventory of vehicles.” In a news release, the company said its auctions feature high-quality vehicles with multiple photos posted to allow dealers to see […] [Read More]

ACV’s continued growth has taken it into Ireland. The Buffalo, N.Y.-based online auto auction platform and wholesale service provider has acquired Irish start-up Drive Inc., a deal announced on LinkedIn by Drive co-founders Conor O’Boyle and Shane Ennis. Drive operates wholesale digital marketplace TradeBid and Nevo, a dedicated EV platform for consumers. “We couldn’t be […] [Read More]

Perhaps dealers are mingling in the auction lanes or holding their smartphones scouring the wholesale market and asking, “How did we get here?” Well, Black Book offered an answer on Tuesday after analysts spotted a 0.17% dip in wholesale values last week. “Fast forward three years from a COVID market low in new-vehicle production,” Black […] [Read More]

Carvana is not just going big. It’s going bigger. The online used-car retailer announced it is turning its ADESA Kansas City auto auction into its first auction and reconditioning “Megasite,” adding inspection and reconditioning center capabilities to the auction site in addition to its digital and in-lane auction operations. The company said the location will […] [Read More]

There’s a revamped inventory acquisition option for dealers who stock used commercial trucks in their inventory. On Monday, Penske Used Trucks announced the launch of its online auction platform for used vehicles. Penske’s fleet of light-duty, medium-duty and heavy-duty commercial vehicles includes units from Ford, GMC, Hino, Isuzu, Freightliner, International, Volvo and many others. The […] [Read More]

Knock on wood, but if the air conditioning goes on the fritz at an auto industry conference — especially at upcoming remarketing shindigs in Texas, Florida and Arizona — event organizers and hotel staff don’t necessarily have to call the HVAC crew. If Sheila Tedesco is in attendance, they could ask her to take a gander. In addition to her leadership roles with Lobel Financial, the Automotive Remarketing Alliance and the Global Remarketing Opportunities for Women organization, Tedesco is ... [Read More]