"We're ready for major U.S. expansion." That was one message EBlock chief executive Jason McClenahan had for dealers at NADA Show 2022, where he sat down with senior editor Joe Overby to discuss the progress of the digital auction company's U.S. rollout, its work with independent auto auctions and more. Plus, McClenahan discusses the EDealer […] [Read More]

Through two months of the year, wholesale auction sales of used vehicles up to 8 years in age are down 15% year-over-year, with most of that softening happening in the premium segment. That’s according to the latest Wholesale Market Update from J.D. Power Valuation Services, which said there was a combined total of approximately 594,000 […] [Read More]

UPDATED: Story has been updated to correct start date of Lev Peker. CarLotz announced on Tuesday afternoon that the last day of employment for co-founder and chief executive officer Michael Bor will be Wednesday. The company also appointed Lev Peker as its new CEO, who will be taking on the role effective April 18. The company […] [Read More]

Major League Baseball settled its labor dispute last week, so spring training is intensifying quickly in Florida and Arizona. But wholesale prices softened another 0.64% last week, prompting Black Book to wonder when dealers are fully ready to embrace the spring season. In the latest installment of Market Insights, Black Book on Tuesday said, “week-over-week […] [Read More]

The CarLotz business model has long been a bridge from remarketing to retail, as the company describes itself as the “nation's largest consignment-to-retail used vehicle marketplace.” Its latest move may also help it bridge brick-and-mortar to digital. On Monday, CarLotz announced the launch of its mobile app, which it says is part of efforts to […] [Read More]

With more than 40 years of company tenure between them, Manheim announced the appointment of three new general managers who each have deep experience serving their clients, team members and communities. The trio tapped for these auction leadership positions during the first quarter included DiAngelo Brooks, David Carlucci and Charlie Clarke. The company said Brooks […] [Read More]

On Thursday afternoon, a presentation at the National Auto Auction Association’s Total Access event delved into what the future could look like for automotive, particularly around microchips and electric vehicles. But earlier that day, the association took time to honor three of the most influential leaders in the auction industry’s recent history. Sandy Schwartz, the […] [Read More]

The ServNet auction group has a new executive director. Officially taking on that post is Chris Angelicchio, whose background in the industry goes back 20 years and whose family has been in the auto auction business for generations. Angelicchio’s auction career dates back to 2002, when he joined his family’s Pittsburgh Independent Auto Auction in […] [Read More]

Dealers found a small piece of price relief in the wholesale vehicle market last month. Though still historically high and well above year-ago and pre-pandemic levels, wholesale vehicle prices have shown their first month-over-month decline since … [Read More]

Manheim announced Monday that it is launching mobile imaging capabilities powered by Fyusion — a company in the computer vision and vehicle imaging solutions space that parent company Cox Automotive acquired in early 2021 — at all of its auction locations. The company has also installed an AI-driven fixed imaging gantry at its Manheim Minneapolis auction. […] [Read More]