Holly Vollant has the toughness it takes to be a winner. She started her remarketing career at a small independent auto auction across the street from where she grew up. She took a hands-on approach to “dive into every aspect of the business” from parking cars to transporting them. Vollant has worked her way to leadership roles at Holman and with industry associations. But she’s also a small business owner, running her family-owned fish hatchery. Hailing from a small town in Northwest Pennsylvania, Vollant thrives in the outdoors and loves football – arguably the grittiest of American sports. And, hell, her favorite team is the Philadelphia Eagles ... [Read More]

When her phone rang at the end of an auction sale last month, Debbie Stokes was in no mood to answer it. “I’m like smack dab in the middle of doing everything,” she recalled. “I look at my phone and it’s showing a number I didn’t have saved. “I’m like, ‘I don’t know who this is. Do I answer or do I not?’ Well, if I don’t answer I’m just going to have to call it back anyway, so I might as well just get this over with.” That turned out to be the right call ... [Read More]

After a rough first quarter, CarMax saw its net income surge in the second quarter despite a slight slowdown in sales revenue. The behemoth used-car retailer also boosted the amount of inventory it acquired, especially from dealers.    “We're pleased with our team's execution in the second quarter, as we achieve positive sales trends, strong margins, cost efficiencies, and EPS growth, while managing through industry-wide auto loan loss pressure,” CarMax president and CEO Bill Nash said during the earnings call. Net income in the second quarter ... [Read More]

Doug Campbell, then the senior vice president and head of fleet services for the Americas at Avis Budget Group, got a call at 4:30 a.m. one autumn day in 2021. It was Avis president and CEO Joe Ferraro on the line. “Hertz just did a deal on a hundred thousand Teslas. You missed the boat, and it might cost you your job. What did you not see?” Campbell recalled being asked. [Read More]

Go Auto plans to continue to grow and the dealership group is interested in acquiring franchises in Western Canada, the dealership group’s president Phil Abram told Auto Remarketing Canada. But it is also eying further expansion in the United States, he said. “Acquisitions are always challenging to forecast in terms of exact timelines, but I can say that we are always looking for ... [Read More]

Towards the end of an interview on the sidelines here at the Automotive Remarketing Alliance’s Summer Roundtable in August, John Urness was asked to name a piece of music, movie, TV show, sports moment or book that had stood out to him. After pausing for a second, Urness — who is the head of vehicle remarketing and customer loyalty at Chase Auto — pointed to the recent Summer Olympics in Paris. “It’s amazing to watch the production value of the Olympics and what makes you feel — the emotion,” Urness said. “Because not only do they draw out the realization of what's happening at that point in time, but they bring all the stories behind it.  Seeing folks participate and push themselves and everything it took to get there to do it, I think that's what sticks with me.” [Read More]

Which way is the dealership M&A market headed? Depends on whom you ask. In its Second Quarter 2024 Blue Sky Report, released Monday, Kerrigan Advisors cited a record number of dealership acquisitions during the first half of this year and said the current rate of nearly double pre-pandemic levels projects to a record year with more than 760 franchise sales. A week earlier, Haig Partners’ Q2 Haig Report pointed out a decline in dealership profits in that has slowed demand and the pace of the buy-sell transactions, as well as a decline of dealership blue-sky values. The report projects some 500 stores to be sold, fewer than in 2023, though still the fourth-most active year in history. Another report issued this week ... [Read More]

Supply is better than a year ago but starting to tighten in the used-car market; meanwhile, wholesale vehicle prices in August climbed month-over-month and week by week, though were lower than year-ago levels. That’s according to monthly indices and top industry analysts monitoring activity in the used-car market. Black Book’s Used Vehicle Retention Index came in at ... [Read More]

ACV may have started as a dealer-to-dealer digital wholesale platform, but the company continues to build its physical infrastructure as part of a strategy to broaden its offering to commercial consignors. And that includes the acquisition of traditional brick-and-mortar auto auctions like Alliance Auto Auctions and DAA Oklahoma City — which are just two of the entities ACV has purchased — in addition to renting land and opening greenfield sites. The company is 25% of the way towards its goal of at least ... [Read More]

Craig Amelung believes that the National Auto Auction Association has a proud past, is living and operating to the fullest in its present and all while keeping a keen eye on its future. That’s why among the NAAA incoming president’s goals over the next year is to identify and nurture a next generation of auction leaders who want to get involved with the association and to draw on the knowledge and experience of those auction veterans who make it successful every day. Amelung is scheduled to take over the reins of the association at its NAAA World Remarketing Convention, in Orlando, Fla., Sept. 30 – Oct.3. Also at the convention, current NAAA president Eric Autenrieth, CEO of Carolina Auto Auction in Williamston, S.C., will become the association’s chairman. “For many years the association has relied on ... [Read More]