Company co-chair Dave Blake will succeed Weaver, whose remarketing industry spans more than 40 years with multiple executive roles.
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Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
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Plug is an online used EV wholesale marketplace to facilitate the buying and selling of used EVs among dealers.
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During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
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The new arrangement meets a need in Florida for an auction that can service the commercial account business.
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After a 41-year career at Cox Automotive, current CFO Mark Bowser will retire this year and Senior Vice President of corporate development Scott LeTourneau will take his place on September 19.
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Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
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With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
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The number of used vehicles for sale had been increasing after hitting a low point in March but that increase in inventory stalled in mid-July and into August, as sales unexpectedly picked up.
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The United Auto Workers contract with the Detroit Big 3 automakers expires Sept. 14 as new inventory remains 68% above last year's level.
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