Auction sales of 2-year-old vehicles from commercial consignors climbed nearly 32% year-over-year in November and beat October numbers by 4%. Through 11 months of the year, sales of these vehicles have jumped 33.6% from the same period of 2024. What does this indicate? For one, it means that “rental fleets continue to remarket larger quantities […] [Read More]

Last week’s trends connected with wholesale prices and conversion rates reflected how auctions, consignors, and dealers probably spent at least part of the timeframe celebrating Thanksgiving. That’s the summation from Black Book’s latest installment of Market Insights, that covered the week including time for good food enjoyed with family and friends. Analysts reported on Tuesday […] [Read More]

Montway Auto Transport’s VIP Relocation service is giving its clients a little extra security boost. The third-party logistics brokerage is adding two-factor authentication to all vehicle pickups managed through its VIP Relocation service, designed to ensure vehicles are handed off only to authorized recipients. The feature aims to strengthen consumer protection, reduce fraud and increase […] [Read More]

Perhaps consignors shouldn’t overreact to softening wholesale prices and volume either remaining steady or maybe even rising a bit in certain lanes and locations. Black Book reported on Tuesday that overall wholesale prices dipped 0.86% last week with the auction conversion rate steady at 56%, “reflecting continued buyer selectivity and firm floors.” Analysts added in […] [Read More]

“Merry” is a word you hear a lot this time of year. But for Montway Auto Transport, it’s not about holiday cheer. It’s about security. The third-party logistics brokerage announced it has integrated the Ship.Cars Fraud Detection Tool — personified by Montway’s new security icon, Merry Montana — into its platform. In a news release, […] [Read More]

On the franchised dealer side of its business, OPENLANE provides private-label programs for automakers, who can sell wholesale vehicles directly to their dealer bodies. “And what that means is the majority of franchise dealers out there are customers of ours through those private-label programs, and that creates a sort of an entry point and a […] [Read More]

America’s Group has added two auction operations and extended its footprint to another state. The auction company said Monday it has acquired Jefferson Mid-State Auto Auction in Wisconsin and United Mobile Auctions in North Carolina. The latter is America’s first purchase in the Tar Heel State. Jefferson Mid-State has been renamed America’s Auto Auction South […] [Read More]

Amid “challenging market conditions” during its third quarter, ACV Auctions increased its revenue, gained market share and expanded its dealer network, said the company’s CEO George Chamoun. ACV’s revenue in the third quarter grew 16% to $199.5 million when compared to the year-ago quarter, but the company’s net loss of $24.4 million in the quarter […] [Read More]

One of the highest points in OPENLANE's overall rosy third-quarter performance was a 14% year-over-year increase in marketplace dealer sales volume. This represents the fourth consecutive quarter of double-digit-percentage volume increases in dealer-to-dealer sales for the company. This offset an expected Q3 downturn in commercial volumes. OPENLANE said during its recent earnings call that the […] [Read More]

Cox Automotive’s logistics brand, Central Dispatch, has launched its carrier scorecard, a new feature designed to help shippers make smarter, safer shipping decisions by providing critical carrier data at the point of dispatch. While noting it independently verifies each carrier that joins the platform, Central Dispatch said the new scorecard gives shippers another tools to […] [Read More]