Wholesale
Auction news roundup: Exeter’s annual auction winners & Manheim PA’s Xtreme Spring event
Wednesday, Mar. 30, 2022, 01:56 PM
Auto Remarketing Staff
Exeter Finance announced its 2021 Exeter auction eXcellence and EMI awards at the recent CAR Conference in Las Vegas, recognizing auctions in divisions based on size and units sold. Taking home the honors were: Division III: DAA Seattle Division II: Metro Phoenix Division I: Bel Air Auto Auction The EMI winner was Indiana Auto Auction. […] [Read More]
Lane watch: Weekly sales rates on the rise
Tuesday, Mar. 29, 2022, 04:02 PM
Auto Remarketing Staff
Black Book said the estimated average weekly sales rate continued to climb, as during the timeframe that concluded on Saturday, it stood at 67%, marking a similar rise they saw last week and “another positive indicator for a spring market.” Analysts rattled off several more reasons why spring might be germinating in the wholesale market […] [Read More]
CarGurus adds 4 states to Instant Max Cash Offer program
Monday, Mar. 28, 2022, 03:58 PM
Auto Remarketing Staff
CarGurus said Monday it has brought the CarGurus Instant Max Cash Offer platform to four additional states, meaning the online car-selling solution is now available in 27 states and Washington, D.C. The latest launches were in North Carolina, South Carolina, Ohio and Arizona. The company said CarGurus Instant Max Cash Offer now reaches about 81% […] [Read More]
As workforce tops 2,000 employees, ACV names chief legal officer
Friday, Mar. 25, 2022, 09:04 PM
Auto Remarketing Staff
Fueled in part by acquisitions during the past year of MAX Digital, Drivably and Monk SAS, ACV said its workforce now tops 2,000 teammates across its North American footprint. And the digital automotive marketplace and data services partner for dealers and commercial partners welcomed its newest employee on Friday, as ACV expanded its senior leadership team […] [Read More]
EBlock results soar as company continues expansion strategy in US
Thursday, Mar. 24, 2022, 07:12 PM
Sarah Runbenoff, Correspondent
EBlock has been on the fast track to business expansion and growth in both its home — Canada, where it launched in 2015 — as well as the United States, which it entered in 2019. Jason McClenahan, who is president and chief executive officer of EBlock parent company E Inc., said in an episode of […] [Read More]
Despite supply crunch, annual auto auction survey yields bright spots
Thursday, Mar. 24, 2022, 05:46 PM
Joe Overby, Senior Editor
Given the widespread challenges from vehicle inventory shortage and supply chain issues, there was a 10% year-over-year decline in the number of units that entered the lanes of NAAA-member auctions last year, according to the association’s annual industry survey. There was also a 4.6% drop in the number of cars that entered auction lanes […] [Read More]
PODCAST: ACV CEO George Chamoun returns to show
Wednesday, Mar. 23, 2022, 05:19 PM
Auto Remarketing Staff
ACV chief executive officer George Chamoun returns to the Auto Remarketing Podcast during this episode recorded at NADA Show 2022 earlier this month in Las Vegas. George sits down with senior editor Joe Overby to talk about ACV's recent acquisitions of Drivably and Monk and how they fit into the company's ecosystem, how dealers can […] [Read More]
Lane watch: Who the ‘real winners’ in the wholesale market currently are
Tuesday, Mar. 22, 2022, 07:52 PM
Auto Remarketing Staff
Black Book identified “the real winners right now” amid a wholesale market where prices are still softening and the estimated average weekly sales rate has not jumped like this time last year. Analysts determined wholesale values dipped another 0.51% during the week that closed in between St. Patrick’s Day and the first day of spring; […] [Read More]
Autosled chooses new CEO, completes Series A funding
Friday, Mar. 18, 2022, 08:15 PM
Auto Remarketing Staff
This month has been quite transformative for Autosled. Not only did the company that aims to make vehicle logistics/transportation more efficient and simpler through technology announce that it has completed its Series A funding round and established its board of directors, Autosled also appointed a new chief executive officer, choosing a leader who one of […] [Read More]
PODCAST: BacklotCars co-founder Justin Davis
Thursday, Mar. 17, 2022, 08:36 PM
Auto Remarketing Staff
Next up in our Auto Remarketing Podcast series from NADA Show 2022, BacklotCars co-founder Justin Davis chats with senior editor Joe Overby about the company's work to go beyond the inventory liquidation piece and help dealers source used cars, and utilizing data and machine-learning to help dealers on both sides of the transaction. Plus, Davis […] [Read More]