CARS Recon founder Ron Hope, a veteran of more than 50 years in the auto auction industry, died last week at the age of 80. Hope, who passed away June 21 at his home in Franklin, Tenn., formed Capital Automotive Reconditioning Services in 2002, growing the operation from a single location with 12 employees to […] [Read More]

McConkey Auction Group is going all in on EBlock. The Spokane, Wash.-based group, which has been using EBlock’s dealer-to-dealer auction platform and Live Auction channel in its MAG NOW digital auction, is expanding that platform’s range into Northern California “from Fresno to the Oregon border,” according to MAG’s website. In a news release, EBlock said […] [Read More]

More than 40 new electric vehicles are expected to hit the market by 2025, according to J.D. Power. Experts think this increase seems to be driven by increased automaker incentives, high interest rates, federal EV tax credit leasing loophole, and concerns about long-term serviceability and battery health. And they said an increase in leased EVs […] [Read More]

Auction Edge said Tuesday that Pipeline Market Report values can now be accessed for cars listed on the EDGE Pipeline platform. Those values had previously only been accessible through a subscription to Carbly, which is a vehicle sourcing and appraisal platform. Pipeline Market Report is a collaboration of Auction Edge and Carbly and offers a […] [Read More]

RPM Freight Systems has been acquired by private equity firms Bluejay Capital Partners and Trive Capital. RPM was founded in 2011 and provides transportation management solutions to new and used-vehicle finished logistics and other specialized freight markets in North America and Europe. Barry Spillman is the company’s founder and CEO. “As we enter our next […] [Read More]

Last month, Xander Schauffele won the PGA Championship at Valhalla Golf Club in Louisville, Ky., securing the first-ever major championship for the golfer currently ranked No. 3 in the world. Monday, fresh off a tied-for-seventh finish in the U.S. Open, Schauffele scored another victory: a two-year partnership to be an ambassador for the AVIS car […] [Read More]

America’s Group said Monday it has acquired San Antonio Auto Auction from BA&W Enterprises Ownership Group. The move extends the auction company’s footprint to 39 locations across 19 states, including digital and mobile sales platforms, as well. San Antonio AA is located on 44 acres in Texas and includes a six-lane arena, reconditioning facilities and […] [Read More]

Understanding the perspective from the other side of a business transaction — or even the other side of an organization’s operations — can be quite valuable, especially in an industry weaving as many moving parts and niche silos as wholesale automotive. Stephanie Compton, who is vice president of asset remarketing for Exeter Finance, has built an award-winning career on the consignor side of the business, including being named by Cherokee Media Group as the 2023 National Remarketing Executive of the Year and a 2020 Women in Remarketing honoree. But she has also walked a mile (or several miles, on sale days) in the shoes of folks who would now call her a customer: the auto auction ... [Read More]

At the beginning of May, new-vehicle inventory was estimated at 2.84 million, which was 51% higher year-over-year and at the highest point since late 2020, according to vAuto Live Market View. And Black Book is saying that automakers are sending more volume to the wholesale market, too, even as analysts saw an accelerated depreciation rate […] [Read More]

On this episode of the Auto Remarketing Podcast, Super Dispatch founder and CEO Bek Abdullayev takes us behind the scenes of the company’s next-generation marketplace. Abdullayev shares more about how the approach to solve the challenges in the logistics vertical of fraud and trust issues, the rise of artificial intelligence and the need for central […] [Read More]