AI is no longer a luxury but the baseline for profitability in 2026. Auto haulers that adopt these tools now will quickly outpace those that use manual workflows or take a wait-and-see approach.
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Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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The new technology — Lot Vision — is a GPS-based wireless device placed in a vehicle's on-board diagnostics port. The tracking device can also be attached to a steering wheel in the event that a vehicle does not have an on-board diagnostic port.
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TradeRev will condense its auction time frame from the current one-hour auction and one-hour closing period to a 45-minute auction and 15-minute closing period beginning Feb. 5, 2019.
Read More →Manheim unveiled its updated Express mobile app at NADA 2019 that allows dealers to gain quick access to view, bid on, and purchase vehicles from inventory listed on Manheim's marketplace digital platform.
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Cox Automotive's dealer technology unit vAuto has acquired iReconCars and relaunched the reconditioning management platform as iRecon to help dealers and other partners improve used vehicle reconditioning efficiency and speed, the company announced.
Read More →The Manheim Adjusted MMR is a wholesale vehicle valuation rating that includes aspects such as a vehicle’s AutoGrade condition, exterior color, mileage, and region.
Read More →Auto Auction Services Corp., which is also known as AutoIMS, has named Venkat Krishnamoorthy as its new chief executive, following the retirement of Mike Broe.
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KAR Auction Services, Inc. has consolidated its management team for two of its businesses — Recovery Database Network (RDN) and Clearplan — in order to improve synergies for the complementary business units.
Read More →Through this integration, CDK dealer customers will realize stronger profit potential with a more precise valuation process during trade-ins for specialty vehicles, the companies noted.
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New York-based Greenbriar Equity Group has acquired Spireon, Inc. from Bertram Capital, a San Mateo-based equity firm that has presided over the expansion of the telematics provider.
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