2 leaders urge industry to attend 2020 IARA Virtual Summer Roundtable

Tuesday, Aug. 11, 2020, 10:30 AM ALCOA, Tenn. –  Two wholesale industry leaders shared reasons why others should join them during the 2020 IARA Virtual Summer Roundtable hosted by the International Automotive Remarketing Alliance. ServNet executive director John Brasher opened first by stating why auctions, consignors and other wholesale-market participants should be online for the event set for Aug. 20. “With several industry events being canceled this year, we are all eager to get together and share information and catch up. We’ve become comfortable with virtual meetings and video conferencing, so… Read More »2 leaders urge industry to attend 2020 IARA Virtual Summer Roundtable

Pivet teams with Georgia Power, ChargePoint for EV charging installation

ATLANTA  –  Pivet, which is part of Cox Automotive Mobility Group, recently partnered with Georgia Power and ChargePoint — a provider of electric vehicle charging networks — for a project that the parent company says was one of the Southeast’s largest EV charging single property installations. Installed through the project at the Pivet Atlanta facility, which is located between downtown Atlanta and Hartsfield-Jackson Atlanta International Airport, were 20 Level 2 fleet chargers, six fleet DC Fast Chargers and six public DC Fast Chargers. This gives the South Metro Atlanta area… Read More »Pivet teams with Georgia Power, ChargePoint for EV charging installation

Auction Life photo submissions open through Aug. 28

Monday, Aug. 10, 2020, 04:01 PM CARY, N.C. –  As part of Auto Remarketing’s annual NAAA Issue spotlighting the auto auction industry, we are once again including an “Auction Life” photo spread of pictures from the past year.  For NAAA-member auto auctions who would like to submit their pictures for inclusion, please upload them to the Dropbox link below by Aug. 28.  Dropbox for NAAA Auction Life Photos Photo guidelines: Each photo MUST INCLUDE the full name of the auction. Otherwise, it will not be included. Photos must be high-resolution. Photos should be from the… Read More »Auction Life photo submissions open through Aug. 28

SureSale vehicles now include SiriusXM subscription

LOS ANGELES –  A certified vehicle with more music, information and entertainment options coming through the model’s sound system. That’s the result of Monday’s finalization of a relationship involving SureSale and SiriusXM. According to a news release, SureSale announced that it has teamed up with SiriusXM to offer a complimentary three-month subscription to SiriusXM’s top-tier All Access package included with the purchase of SureSale vehicles at franchised and independent dealerships. Complete offer details and terms are available through SureSale. “When a customer buys a SureSale car, they are already getting a… Read More »SureSale vehicles now include SiriusXM subscription

Karma Automotive expands retail presence in Texas

IRVINE, Calif. –  Karma Automotive is growing its footprint in the Lone Star State. Last week, the Southern California-based creator of luxury electric vehicles and the developer of advanced technologies, announced the addition of a new North American retail partner. The company said Karma DFW, operated by Principle Luxury Collection, is the second retailer to be added to Karma’s Texas retail network with an additional retailer already located in Houston. The store initially will be located in Irving, Texas, with intentions to relocate into a new facility in Grapevine, Texas. Karma… Read More »Karma Automotive expands retail presence in Texas

PODCAST: Kontos on off-rental units & other wholesale trends

CARY, N.C. –  KAR Global chief economist Tom Kontos returned to the Auto Remarketing Podcast to discuss how much off-rental units might impact wholesale volume and pricing as turbulent 2020 continues. Kontos also touched on other factors that he and his team are watching that could influence both the wholesale and retail markets going forward. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  Source Article

KAR hires NIADA CEO Jordan to lead dealer sales

CARY, N.C. –  Steve Jordan, the longtime chief executive of the National Independent Automobile Dealers Association, is joining KAR Global next month as its executive vice president of dealer sales. KAR made the announcement Monday morning. Jordan has been with NIADA for 11 years and its CEO for the past seven. NIADA announced Friday that Jordan had resigned his position to pursue another auto industry opportunity and that he would remain with the association in an advisory role for a 30-day transition period. “Steve is a true industry leader who understands… Read More »KAR hires NIADA CEO Jordan to lead dealer sales

2 straight months of record wholesale prices; What’s next?

CARY, N.C.  –  It was another record for the Manheim Used Vehicle Value Index. This metric measuring wholesale used-car prices has now hit all-time highs for two straight months, as a near 6% sequential lift in wholesale values pushed the index to 158.0, according to parent company Cox Automotive. That reading beats year-ago figures by 12.5% and is nearly nine points higher than the previous record of 149.3 set in June. In an analysis accompanying the index, Cox Automotive indicated that there was a 5.84% gain in wholesale prices in… Read More »2 straight months of record wholesale prices; What’s next?

PODCAST: Trio of experts from Black Book talk used-car trends

CARY, N.C. –  Our friends from Black Book join us for this episode of the Auto Remarketing Podcast. We talk with Susan Moritz, Alex Yurchenko and Laura Wehunt about the ebb-and-flow of the retail and wholesale used-car markets, the COVID-19 impacts on the ancillary services piece of the industry and current projects at Black Book. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  Source Article

What July jobs report could mean for vehicle-sales prospects

CARY, N.C. –  While some “details were generally encouraging,” experts are continuing to project that it will take some time before dealerships and finance companies see the amount of gainfully employed workers making vehicle purchases as they did back in February. Those experts dissected the July jobs data from the U.S. Department of Labor, which reported on Friday that the unemployment rate declined by 0.9 percentage points to 10.2% and the number of unemployed workers declined by 1.4 million to 16.3 million. Despite decreases during the past three months, the Labor… Read More »What July jobs report could mean for vehicle-sales prospects