Cox Automotive has doubled down on its Fleet Services business. The automotive giant, which acquired a majority stake in what was then Dickinson Fleet Services in 2020, has purchased the rest of the company from minority owners Mike Dickinson and Ted Coltrain. “This acquisition represents our steadfast commitment to the fleet industry and the opportunity […] [Read More]

OPENLANE has sold its High Tech Locksmiths business unit to Dent Wizard, a reconditioning services provider. Dent Wizard announced the deal (which became effective Dec. 16) just before the holidays. HTL was founded in 1992 and provides locksmithing services to auto auctions, repossession agents, financial institutions, dealers and rental-car companies. OPENLANE, then known as KAR […] [Read More]

After taking a month off for the holidays, Carvana is back on the Megasite track. The online used-car retailer announced plans to open its latest integrated auction/reconditioning center on the ADESA Atlanta auction site in Fairburn, Ga. Carvana’s fifth Megasite follows the launch of similar operations at ADESA Kansas City in August, ADESA Houston in […] [Read More]

The newest installment of Market Insights from Black Book recapped stable developments in the wholesale space during the close of 2024 and conveyed optimism about what the auction scene might be like in 2025. Analysts said wholesale values decreased 0.44% last week while the auction conversion rate came in at 54%. “As we look back […] [Read More]

For decades, M&A and buy-sell has been a part of the auto auction industry — and, really, most any industry with a constituency mix of corporately and independently owned businesses experiences consolidation. But the moves in the last three years have arguably led to the greatest change in the auto auction landscape in decades. In […] [Read More]

Longtime OPENLANE leader Jason Ferreri has joined America’s Group as chief revenue officer, the company announced. In a news release, America’s Group, which includes America’s Auto Auction and AXLE Funding, touted the addition of Ferreri as an illustration of its “dedication to driving innovation and growth” in the auto remarketing industry. “Jason’s deep knowledge of […] [Read More]

Dealers Auto Auction Group has promoted Brittany Theis to director of sales for DAA Digital. Theis, who joined DAA as a regional digital sales manager in 2022, brings 16 years of experience to the role. In her tenure with DAA, the company said, she has “transformed digital marketplace strategies through strategic implementations and exceptional sales […] [Read More]

Black Book’s observations of the auction lanes from the opening week of December included an overall wholesale price drop of 0.63%, which was an increase from the previous week but “remained consistent with typical seasonal expectations.” When looking closer at specific vehicle segments or aged units, analysts uncovered a quartet of other notable trends as […] [Read More]

The National Auto Auction Association’s newly established scholarship has its first winner. Abigail Balk was named the inaugural recipient of the Ron Hope Memorial Scholarship for Auction Academy, the association announced. Balk, the marketing/communications manager for Greater Rockford Auto Auction and Great Lakes Auto Auction, will join the Auction Academy’s Class 9, which begins in […] [Read More]

It has been a banner rebound year for auto auctions: the market is having its strongest year for wholesale sales volume since before the COVID-19 pandemic. That’s according to the latest AuctionNet data from the National Auto Auction Association, which indicates there were 6.25 million wholesale auction sales in the first 11 months of 2024. […] [Read More]