| Colorado dealership investigated for floorplan fraud Jan 07, 2020 01:25 pm | Joey Pizzolato Used-car dealer Tripoli Auto Sales has come under investigation by the Auto Industry Division of the Colorado Department of Revenue for failing to pay its two floorplan lenders and withholding vehicle titles from consumers, according to an affidavit. It is estimated that nearly 80 vehicles — valued at $180,000 — were sold out of trust. […]
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John Hammer (second from left) during during an auction executive panel at the 2022 NAAA Convention. Photo courtesy of NAAA.Auto Remarketing has learned and parent company Carvana has confirmed that ADESA president John Hammer is leaving the company Friday. Hammer has been named the CEO of Spectrum Automotive Holdings Corp., according to a news release from Spectrum, and will start Feb. 6. “John’s dedication to his team and customers has been instrumental in building ADESA into an industry leader,” Carvana founder and CEO Ernie Garcia said in a statement. “He has made a significant contribution to Carvana and I thank… [...]
Experian's booth at NADA Show 2022 in Las Vegas. Photo by Nick Zulovich.Experian is expanding on its commitment to equip dealers with the data needed to buy and sell used electric vehicles with confidence, especially since battery health is pivotal in valuating used EVs. On Thursday, Experian announced a new alliance with Recurrent, as the Recurrent Battery Report for used EVs will be offered alongside Experian’s AutoCheck reports. The Recurrent Battery Report offers additional data and attributes on an EV’s battery health, including battery insights, weather impact and more. While dealers and consumers alike have historically looked to a vehicle’s… [...]
File photo of Auto Remarketing senior editor Joe Overby (left) and E Inc. CEO Jason McClenahan during their podcast interview at NADA Show 2020 in February 2020. Photo courtesy of EBlock.Continuing its “land meets tech” strategy, EBlock is buying another auto auction, this time in Texas. The dealer-to-dealer online wholesale platform and its parent company E Inc. announced Thursday they have signed a deal to purchase Houston Auto Auction for $5.5 million in cash. The first $2.5 million would be payable at closing and then the remaining payments, split evenly, would come on the first and second anniversaries of the… [...]
In this epsiode of the Auto Remarketing Podcast, Bek Abdullayev, who is the founder and CEO at Super Dispatch, joins the show to talk about the company's latest product launch, auto transport trends he is watching and how the transport segment has changed, the impact of supply and price fluctuations and more. Plus, he shares what makes Kansas City — where Super Dispatch is headquartered — a strong market for entrepreneurs in automotive. To listen to the conversation, click on the link available below. Download and subscribe to the Auto Remarketing Podcast on iTunes. Auto Remarketing Podcast · Super Dispatch CEO Bek Abdullayev Tags: Podcasts [...]
Image courtesy of UVeye.CarMax will utilize the services of UVeye to automate vehicle inspections within its auction operations and provide AI-enhanced condition reports for wholesale buyers. In a news release Tuesday, UVeye said CarMax — which has been an investor in the company since 2021 — will use its inspection technology through a licensing agreement between the companies. CarMax, whose wholesale operations sold over 700,000 units during its last fiscal year, transitioned its auction operations to fully digital in 2020. UVeye’s systems have been installed at select wholesale locations, and the retailer plans to add UVeye technology throughout various pieces… [...]