Wholesale

Like they have in recent earnings reports, ACV Auctions leaders during the company’s first quarter 2024 earnings call on May 9 continued focusing the discussion on the topics of growth, innovation and scale. The company calls those topics its three “pillars” of strategy to maximize long-term shareholder value. Company leaders focused a great deal of their first quarter earnings call comments on ... [Read More]

AutoIMS has promoted senior director of client success Bo Boshell to vice president of client success, a move the company said “recognizes Boshell’s ability to shape short- and long-term strategies while keeping the customer at the center.” In his new role, Boshell, who joined AutoIMS in June, will take on comprehensive responsibility for the entire […] [Read More]

Carvana is bolstering its inspection and reconditioning capacity and in its first quarter delivered its best financial results ever, company executives said during its quarterly earning call. CEO Ernie Garcia said Carvana’s inspection and reconditioning infrastructure in its first quarter that ended March 31, had the capacity to handle 1.3 million vehicles per year, which is over triple its current volume, and the ability to expand that reconditioning capacity to ... [Read More]

Expressway Auto Auction of Dansville, N.Y., has engaged TPC Management Co. to provide strategic consulting services. “We’re looking forward to an exciting future as we work with Pierre Pons, Jiles Wanna and the rest of the team at TPC Management,” Expressway co-owner and general manager Kyle Tracy said. “Their relationships within the remarketing community and […] [Read More]

CarGurus’ CarOffer digital wholesale platform continued to operate at a loss in the first quarter of 2024 though it did improve sequentially. The entire company’s net income surged, however. The CEO emphasized ongoing efforts to rebuild the wholesale business and integrate it into CarGurus’ other product offerings. “We are proud of the progress and improvement […] [Read More]

Black Book’s Used Vehicle Retention Index for April and its latest weekly look at wholesale value movements summarized the likely conclusion of this year’s spring market. Beginning with the index, Black Book said its seasonally adjusted index decreased 1.1% (1.8 points) to 150.0 from the March reading of 151.8. Examining year-over-year, Black Book said the […] [Read More]

Companies from throughout the automotive industry might brace themselves when a letter arrives from a federal agency. Last week, Carvana celebrated the arrival of one from the National Highway Traffic Safety Administration. Carvana highlighted that letter because it affirmed the legality of electronic signatures (e-signatures) on physical odometer disclosure documents. Carvana said it pursued this […] [Read More]