Wholesale
Cars.com to buy Accu-Trade group & enter digital wholesale space
Tuesday, Feb. 8, 2022, 01:00 PM
Joe Overby, Senior Editor
Through a massive acquisition announced Tuesday, Cars.com will be entering the digital remarketing and wholesale vehicle acquisition space, as well as the consumer peer-to-peer market. Cars.com has agreed to buy the Accu-Trade group that incudes Accu-Trade, Galves Market Data and MADE Logistics for $65 million cash. The purchase would also include potentially more cash and […] [Read More]
Wholesale vehicle prices remain at historic highs, but becoming more stable
Monday, Feb. 7, 2022, 09:04 PM
Joe Overby, Senior Editor
They’re still up more than 40% from prior-year levels, but wholesale vehicle prices last month were more or less flat from December, according to the latest reading of the Manheim Used Vehicle Value Index. Of course, the level at which used-car prices remain steady? It happens to be … [Read More]
PODCAST: More details on CDK’s new online wholesale platform
Monday, Feb. 7, 2022, 05:04 PM
Auto Remarketing Staff
CDK Global has entered the online wholesale space, launching a new marketplace called CDK CarSource that is designed to connect dealers to used-car inventories from other dealers across the country. Fred Fordin, vice president, DMS at CDK Global, joins the show to explain more about how the platform will work and what sets it apart […] [Read More]
NAAA names 3 new Warren Young award recipients
Monday, Feb. 7, 2022, 04:50 PM
Auto Remarketing Staff
The National Auto Auction Association named three new Warren Young Fellows last week, recognizing the following auto industry leaders: — Joe Oliveri, vice president of product management and data services at KAR Global — Elton O’Neal, senior director of data strategy at Cox Automotive — Brian Green, vice president of corporate business development at Cox […] [Read More]
As new wholesale options multiply, vAuto platform helps dealers optimize used-car acquisition channels
Monday, Feb. 7, 2022, 02:46 PM
Auto Remarketing Staff
Even before the recent used-car supply changes, dealers were increasingly turning to a variety of channels to acquire wholesale inventory. And these days, the “buy anywhere” approach is of paramount importance as traditional wholesale sources have limited supply. With that in mind, vAuto has launched ProfitTime’s Global Acquisition tool, which is designed to help dealers […] [Read More]
Hertz names former Goldman Sachs exec as new CEO
Friday, Feb. 4, 2022, 04:56 PM
Auto Remarketing Staff
Hertz will have a new chief executive officer at the end of the month. The rental car company named to former Goldman Sachs executive Stephen Scherr to the CEO role on Friday. Scherr, who spent close to three decades at Goldman Sachs and left his role as chief financial officer at the end of 2021, […] [Read More]
Auction News Roundup: Upgrades to Black Widow platform; Credit Acceptance’s auction winners
Wednesday, Feb. 2, 2022, 04:47 PM
Auto Remarketing Staff
We start this auction news roundup with the latest from Black Widow Imaging. The company announced two upgrades to its high-definition image capturing system on Wednesday. First, the platform now captures 17 images, up from seven. Additionally, Black Widow also introduced automated background replacement software for automakers and dealers, through which the company can remove […] [Read More]
CDK launches online wholesale platform
Wednesday, Feb. 2, 2022, 02:23 PM
Auto Remarketing Staff
Add another major player to the growing online wholesale space. CDK Global announced Wednesday it has launched an online wholesale marketplace called CDK CarSource that is designed to connect dealers to used-car inventories from other dealers across the country. The platform does this through an integration with the company’s CDK Drive dealership management system. “With […] [Read More]
Lane Watch: Wholesale vehicle values showing some normalization
Tuesday, Feb. 1, 2022, 09:01 PM
Auto Remarketing Staff
There has been some wholesale vehicle price normalization in the early stages of 2022, as values slowed again last week. According to the latest Market Insights report from Black Book, wholesale vehicle prices for the week ending Saturday were down 0.34%, following a 0.17% drop the prior week. During the 2017-2019 time frame, the average […] [Read More]
Carbly adds Galves data to platform
Tuesday, Feb. 1, 2022, 08:15 PM
Auto Remarketing Staff
Ambient Automotive said Tuesday that its Carbly platform now includes Galves vehicle values market data. Carbly, which helps dealers make decisions on vehicle sourcing, valuation and inventory management, now includes pricing data from eight sources. Among those are Kelley Blue Book, J.D. Power, Manheim, Black Book, EDGE Pipeline, Galves and others. “With the volatility in […] [Read More]