The Summer Roundtable was highlighted by discussions from key figures in the remarketing industry on how they’ve thrived in the current climate and their efforts for the future.
KAR Auction Services, Inc. has signed a definitive agreement to acquire BacklotCars Inc., an app and web-based dealer-to-dealer wholesale platform featuring a 24/7 “bid-ask” marketplace and comprehensive vehicle inspections performed by automobile mechanics.
Manheim expanded its Digital Block sales, adding seven more locations with in-lane bidding with a live auctioneer; however, vehicles are only displayed on screens and never travel down physical lanes.
Dealers Auto Auction (DAA) of Idaho has joined ServNet’s group of independent auctions, as the auction group continues to expand its U.S. presence.
McConkey Auction Group (MAG) has expanded into the southwestern United States via a new partnership with Dealers Auto Auction (DAA) of Las Vegas.
Volume-weighted, overall car and truck segments both showed signs of slowing with the overall market decreasing by 0.15% this past week, compared to a 0.14% decrease the prior week.
Manheim has released three new enhancements to its digital marketplace by adding significantly more images on vehicles checked in at a physical location; the opportunity to more easily transact at below-floor prices; and an additional sale format.
Volume-weighted, overall car and truck segments both showed signs of slowing down after 15 consecutive weeks of increases, with the overall market increasing by only 0.03% this past week (compared to 0.27% the prior week), according to Black Book’s recent Market Insights report.
Larry Stephen Hedrick, past president of the National Auto Auction Association (NAAA), founder of Statesville Auto Auction, and former NASCAR team owner, passed away Monday, Aug. 31, 2020, following a battle of Acute Leukemia.
Wholesale used vehicle prices increased 3.64% month over month in August, bringing the Manheim Used Vehicle Value Index to 163.7 a 15.8% increase from a year ago and another record-high for the Index, which also occurred in June and July of 2020.
Evans stepped into the role as head of the fleet & lease department in April 2019 and has been hailed for his success in building the commercial segment of the business while guiding customers through the challenges of doing business in a COVID-19 climate, according to America’s Auto Auction
Black Book has integrated its value data into One Auction View, a subscription-based service that provides dealers access to online wholesale auctions in a simplified, aggregated view.
Volume-weighted, overall car and truck segments both showed gains for the thirteenth week increasing 0.52% this week (compared to 0.82% the prior week).
