Wholesale

Wholesale vehicle prices have begun to climb again after three months of declines, but that didn’t slow down used car sales in August, according to the latest monthly report from ADESA chief economist Tom Kontos. The new Kontos Kommentary, released this week, using ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices […] [Read More]

ADESA Auctions has introduced a new tool designed to help provide better transparency and efficiency in buying and selling electric vehicles at auction. ADESA’s advanced battery health scoring process, created in collaboration with Recurrent and AutoIMS, “sets a new industry standard,” the company said in a news release. In 2022, ADESA partnered with Recurrent in […] [Read More]

According to the United Auto Workers update posted on Wednesday, 18,600 union members are now on strike at 41 Big 3 manufacturing facilities in 21 states. The ramifications in the used-vehicle space, particularly the wholesale market, continue to evolve. Black Book reported Tuesday that wholesale prices dipped just 0.22% last week. And with dealers concerned […] [Read More]

The auto auction industry’s two most prominent associations announced a collaboration to work together on issues concerning electric vehicles. The National Auto Auction Association and International Automotive Remarketers Alliance are joining together with a focus on topics such as safety, standards and education for the benefit of the industry. The associations agreed to collaborate last […] [Read More]

John Poteet, the longtime leader of Louisiana’s 1st Choice Auto Auction, was named an Industry Pioneer by the National Auto Auction Association during the NAAA World Remarketing Convention in Chicago. In a news release, NAAA said Poteet was honored for his inclusive and innovative leadership and outstanding service to the wholesale auto auction industry, his […] [Read More]

Longtime auto auction industry leader Lynn Weaver has retired from his position as executive director of the Independent Auction Group. Weaver made the announcement Tuesday at the National Auto Auction Association’s World Remarketing Convention in Chicago. The move is effective immediately. Replacing Weaver is Dave Blake, who has served as IAG’s co-chairman since 2010. “It […] [Read More]

The market for used electric vehicles is still in its infancy, but a startup founded by a former Tesla executive aims to accelerate its maturity. Plug, founded by former Tesla director of sales and delivery operations and senior manager of used cars Jimmy Douglas, is an online used-car wholesale marketplace devoted specifically to facilitate the […] [Read More]

To get a sense of the growth in the wholesale electric vehicle market, consider this statistic shared by Cox Automotive on Thursday. The company’s Manheim operating locations in the U.S. have processed over 25,000 used EVs through the first eight months of 2023, which marks a 43% year-over-year increase. Manheim said it started building its […] [Read More]

The UAW strike appears to be intensifying, so dealers are taking steps to shore up their used-vehicle inventories. Black Book watched the estimated average weekly sales rate increase to 51% during the week that closed on Rosh Hashanah, with wholesale values still declining by 0.73%. Even with workers not assembling new vehicles for General Motors, […] [Read More]

Dancing players. Senior citizen cheerleaders. And if a fan catches a foul ball, it counts as an out. This is not an ordinary baseball game. The Savannah Bananas are an exhibition baseball team that creates a circus-like atmosphere with its events. One of the team’s main goals: “Entertain always.” Jesse Cole, owner of the Savannah […] [Read More]