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Online auctions and the digital tools that accompany them are key to vehicle wholesalers' futures.
The National Auto Auction Association is spending $125,000 on two initiatives to help members find and hire more technicians.
The auction services and technology company's core businesses helped offset continued costs associated with its rollout of TradeRev.
Blaise Alexander Family Dealerships opened its own weekly auction to wholesale its excess used cars and trade-ins, saving fees and earning extra revenue.
Manheim Express is being touted as a logical evolution in digital wholesaling. But some high-volume dealers could use a little help.
KAR is pouring money into its TradeRev business with a vision of growing the online appraisal and auction tool's annual volume from the thousands to the millions.
The volume of retired rental vehicles headed for auctions is steadily on the decline.
What's interesting about the 1987 Porsche 959 that Mecum auctions planned to sell during Monterey Car Week -- besides the fact that it is one of only 294 produced -- is that it is literally a wreck.
With the prominence of the physical auto auction shrinking, Cox Automotive and its Manheim unit are honing digital services and building up other revenue streams such as reconditioning.
Manheim has wrapped up a three-year, $100 million high-tech makeover of its physical auctions, re-engineering every process and replacing old technology.
TradeRev-H, an enhanced version of the TradeRev app for one-hour online auctions, can change how vehicle inspections are done.
Prices for small used cars are climbing to unexpected levels- a sign that demand is growing as price-sensitive consumers face dwindling options in the new-car market.
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