Tim West, Black Book’s longtime Vice President of North American Auctions, received the Ed Bobit Industry Icon Award, which honors those for their contributions to the remarketing industry.
Manheim’s flagship auction location sold more than 8,200 of the approximately 10,000 vehicles offered for sale digitally during the week ending June 19, 2020.
The National Auto Auction Association (NAAA) named Mike Stanton a Warren Young Fellow, which recognized the executive vice president and chief operating officer of the National Automobile Dealers Association for dedicated support of NAAA and its member auctions.
Dealers Auto Auction Group has expanded two of their auction facilities in Tennessee and Alabama.
The International Automotive Remarketing Alliance (IARA) has opened registration for its 2020 IARA Virtual Summer Roundtable and revealed the agenda, which will be hosted virtually on Aug. 20, 2020.
The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 6.6% comparing the first 15 days of June to the month of May.
KAR Global launched a new set of interactive dashboards that display retail and wholesale trends from across the remarketing ecosystem.
The industry quickly turned to online services when the pandemic hit, utilizing digital-only sales, which ultimately kept the industry from halting completely.
The International Automotive Remarketing Alliance (IARA) has announced that it will be transitioning its 2020 IARA Summer Roundtable Conference to be the 2020 IARA Virtual Summer Roundtable.
Topics mentioned includes the state of the wholesale used-vehicle market; how an increase in employment will boost demand in the used-vehicle market; and sales activity at auctions starting to pick up.
Direct Automotive Services (DAS), formerly Direct Auction Services, named Steve Watson as chief financial officer (CFO) effective May 6, 2020, where he oversees the financials, accounting, HR/Payroll, administration and IT departments.
KAR Auction Services Inc. announced that long-time senior executive Warren Byrd will step down from KAR Global after 23 years with the company.
Manheim has named four new general managers at four locations, including businesses in Florida, Minnesota, and Cincinnati.
Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.