Wholesale

You have to delve deeper into the newest Black Book data to find much movement in the wholesale market. Black Book said last week’s auction scene was characterized as “stable,” and for good reason, because prices ticked up only 0.01%. And analysts indicated the conversion rate — the percentage of vehicles sold at auctions — […] [Read More]

Amid years of challenges, some good news for the wholesale auto industry. While sales at auctions haven’t returned to pre-COVID levels, the number of vehicles offered for sale at National Auto Auction Association member locations and the number that actually sold were both up double-digit percentages last year. Not to mention, conversion rates beat prior-year […] [Read More]

Carvana and one of its executives were recognized by the NAFA Fleet Management Association (NAFA) at its annual Institute & Expo (I&E). While the company was a top Commercial Fleet for 2024 in the Americas, NAFA has also recognized Kenny Stimson, who is Carvana’s director of fleet management. Stimson was named the 2024 Fleet Professional […] [Read More]

While the upswing in 2024 isn’t likely to be as strong as last year’s, the wholesale vehicle market is showing a gradual rebound in volumes and has started the year with some impressive gains. At the Manheim auto auction chain, wholesale sales climbed in 11 of the first 13 weeks of the year and were up 15% year-over-year in the first quarter, said Jeremy Robb, senior director of economic and industry insights at parent company Cox Automotive. Year-to-date through February, there were ... [Read More]

It continues to be a celebratory atmosphere in the auction world. While BSC America’s Bel Air Auto Auction recently commemorated its 77th anniversary, the National Auto Auction Association is gearing up for this year’s World Automobile Auctioneers Championship (WAAC). What NAAA considers the premier competition in the auto auctioneer industry is set to take place […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. As technology continually reshapes the automotive industry, the evolution of inspections and condition reports stands out as a pivotal chapter.  With artificial intelligence taking the wheel, there is a transformative shift in how both consumers and auto dealers navigate the often complex and sometimes opaque world of vehicle inspections. Gone are the days of relying solely on [Read More]

After running the program at its Anchorage, Alaska, location since January, McConkey Auction Group has launched EBlock’s LiveLanes simulcast solution at its sites in the lower 48 states this month. The auction group conducted the LiveLanes event last week in conjunction with its MAG Now digital auction. It plans on bringing it to additional MAG […] [Read More]

Auction Management Solutions (AMS) shared this week that the firm has something notable brewing in Wisconsin. AMS announced that Greater Milwaukee Auto Auction (GMAA) has partnered with the firm for business development consulting. “We are very excited to be a part of the AMS Group of independent auctions,” GMAA owner Kristie Letizia said in a […] [Read More]

Perhaps the bartender hasn’t yet made the last call, but the spring market might soon be hitting closing time. Black Book reported on Tuesday that wholesale prices moved only 0.14% higher last week. While that’s on par with what analysts noticed during the same week in 2017 to 2019, the movement is 10 basis points […] [Read More]

ACV has expanded yet again, but this time, it’s within the vehicle transport and logistics side of the business. The company said Monday that its ACV Transportation unit, which provides vehicle logistics solutions, is now offering its services for vehicles purchases outside of the ACV platform. “The mission of ACV Transportation continues to be making […] [Read More]