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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.
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.
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.
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.
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.
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.
This investment follows years of online sales growth for Manheim. During the first half of 2018, digital sales for Manheim grew by 45% year-over-year. In 2017 sales were up 39% year-over-year during the same time period.
Auto Auction Services Corp. has announced that its president and CEO, Mike Broe, will retire on Dec. 31, 2018, according to a company announcement.
Insurance Auto Auctions (IAA) is expanding the launch of its new towing app to aid towing and hauling contractors transporting vehicles impacted by Hurricane Florence and the resulting flooding.
TradeRev has expanded its dealer-to-dealer digital auction platform services into five new markets across the United States.
Shift currently operates in California and is the largest used car retailer in San Francisco. By year end, the company expects to sell approximately 8,000 used vehicles.
TradeRev started as a dealer-to-dealer mobile app, but has expanded its offerings to give more real-time auction access to commercial fleets and fleet management companies.
Lane Alerts is a Manheim messaging service that sends buyers a text message in advance of a vehicle they’re interested in coming up for sale.
Manheim Express, a mobile app that allows dealers to list and sell inventory from their lots or in-lane, is now available nationwide after an eight-month pilot, according to a company announcement.
KAR Auction Services has joined the Mobility Open Blockchain Initiative (MOBI), a consortium of global automotive industry leaders exploring block chain technology’s potential use in the digital mobility ecosystem.