Wholesale
ADESA launching upgraded condition reports
Tuesday, Feb. 1, 2022, 06:28 PM
Auto Remarketing Staff
ADESA said Tuesday it is launching a more comprehensive condition report designed to help dealers “buy with confidence.” The enhanced reports feature an upgraded photo gallery that includes a dedicated damages section, easier-to-find tire condition information and vehicle options, the company said in a news release. The top of the CR page will feature the […] [Read More]
PODCAST: Surveying the current wholesale market with 2 Black Book experts
Monday, Jan. 31, 2022, 04:41 PM
Auto Remarketing Staff
With nearly a month of 2022 already in the books, we asked for observations from Black Book chief data science officer Alex Yurchenko and Laura Wehunt, who is vice president of automotive valuations at Black Book, for this episode of the Auto Remarketing Podcast. Yurchenko and Wehunt explained why the wholesale market has behaved like they expected. […] [Read More]
Dent Wizard elevates Lyda to VP of operations
Friday, Jan. 28, 2022, 04:28 PM
Auto Remarketing Staff
Extending a string of executive modifications, Dent Wizard International recently promoted Cory Lyda to vice president of operations through a move the company said was effective Jan. 1. In his new role, Dent Wizard highlighted Lyda will serve primarily as the field liaison for the corporation and oversee product-related initiatives. The company added that Lyda […] [Read More]
Auto auctions keep close watch on EV infrastructure developments
Wednesday, Jan. 26, 2022, 10:39 PM
Joe Overby, Senior Editor
Electric vehicles took some time to gain steam in the new-car market, but once they did, sales took off like a rocket. Given the measured pace of new EV sales in the years prior to the acceleration in 2021, pre-owned EVs remain a “niche market,” due to the resulting low supply and other considerations, says […] [Read More]
IAA gains land for new UK location
Wednesday, Jan. 26, 2022, 07:25 PM
Auto Remarketing Staff
IAA made another move on Wednesday to reinforce its European operations. The company announced that it has secured ground for the construction of a new full-service facility in Bristol, located in the southwest region of the United Kingdom. IAA said through a news release that the additional capacity resulting from the new location will help […] [Read More]
KAR licenses privacy & security training program to NAAA-member auctions
Tuesday, Jan. 25, 2022, 09:33 PM
Auto Remarketing Staff
The National Auto Auction Association and KAR Global said in a joint statement Tuesday that KAR is licensing its “Privacy Pam” privacy and security training program for NAAA-member auctions to use. KAR uses the training program to help its near-10,000 employees protect the data and information of its customers — which include automakers, dealers, fleets, […] [Read More]
Lane watch: Why auctions ‘now seem to be a secondary source for inventory’
Tuesday, Jan. 25, 2022, 06:57 PM
Auto Remarketing Staff
That headline you just read is part of the blunt assessment of the wholesale market Black Book gave as part of its newest installment of Market Insights released on Tuesday. That observation came even as analysts saw wholesale prices dip for the third week in row to start the year. [Read More]
How GM’s CarBravo program could impact auction lanes
Sunday, Jan. 23, 2022, 04:51 PM
Joe Overby, Senior Editor
When General Motors launches CarBravo later this year, the majority of the vehicles available on the omnichannel used-car sales platform will be inventory owned by its dealers. However, CarBravo will also include vehicles owned by General Motors and GM Financial, like off-rental and off-lease units. So, that begs the question: how would that impact the […] [Read More]
How wholesale vehicle prices have started 2022
Wednesday, Jan. 19, 2022, 08:04 PM
Joe Overby, Senior Editor
The wholesale vehicle market has started 2022 with some mixed signals, it appears. After reaching an all-time in December, the Manheim Used Vehicle Value Index climbed another 0.8% in the first half of January. But that gain was largely driven by seasonal adjustment, Cox Automotive said in a Data Point report Wednesday. “The non-adjusted price […] [Read More]
Lane watch: Chilly outside & inside the auction to open 2022
Tuesday, Jan. 18, 2022, 08:40 PM
Auto Remarketing Staff
With about half the country dealing with cold temperatures, freezing rain, snow or just general winter blah, you also could say that the wholesale market is off to a somewhat chilly start to 2022, as well. Black Book reported in the newest installment of Market Insights that value declines continued to round out the second week […] [Read More]