ADESA hosted a single digital auction event with vehicles in 22 different locations using the company’s Simulcast+ technology. The sale was hosted in late July on behalf of The Hertz Corporation and sold vehicles to buyers in 19 states across the country. Simulcast+ is ADESA’s new digital auction platform that simulates the competitive live auction environment in a fully digitized, highly automated, live streaming format.

“We launched Simulcast+ months ahead of schedule to support our customers during the COVID-19 lockdowns, and it has grown exponentially since then,” said Jim Hallett, chairman and CEO of KAR Global, ADESA’s parent company. “It’s faster than a physical auction, it’s safer than a physical auction, and it allows sellers and buyers to participate in live auctions anytime, anywhere. Last week’s successful Hertz sale reinforces Simulcast+ as the premier solution to effectively remarket inventory from multiple locations and reach a broad, highly engaged national buyer base.”

The Simulcast+ technology was first utilized by ADESA in April 2020 and has since been used for more than 400 auction events. Over 11,000 buying dealers have participated in those events, casting over 400,000 bids and resulting in tens of thousands of digital vehicle sales.

“We were pleased with the results of this sale in terms of dealer attendance, bidding activity, conversion and proceeds,” said Jeffrey Adams, senior vice president of remarketing at The Hertz Corporation.

For sellers, the Simulcast+ platform offers full control to set and adjust floors, pass on bids, post new asking prices and communicate directly with buyers during the sale. The integrated seller dashboard also captures comprehensive pricing, bidding and behavioral data that can be utilized to inform and market future sales. For buyers, Simulcast+ provides the ease, convenience and safety of bidding from any location and allows access to sales well outside their usual geographic auction market. It also delivers a more transparent bidding experience by clearly displaying every bid and every bidder on every sale. 

Cox Enterprises has named Steve Rowley as the new president of Cox Automotive, effective Aug. 3. Cox Automotive includes powerhouse brands Autotrader, Kelley Blue Book, Dealertrack, vAuto and Manheim. He takes over for President and CEO Sandy Schwartz, who moves to a role as CEO of the Cox Family Office. Keith Holmes, senior vice president of residential sales for Cox Communications, will become executive vice president, Cox Business.

Rowley joins Cox Automotive from his role as executive vice president of Cox Business, the commercial division of Cox Communications.

Schwartz will use his 35 years of experience at Cox to work with the company’s shareholders and bring his business acumen to family investments. He will continue to oversee Cox newspapers in Atlanta and Dayton, Ohio, and until the end of the year, will retain the title of CEO at Cox Automotive.

As president of Cox Automotive, Rowley will immediately begin working with Schwartz to transition duties and oversight of the company with a focus on engaging with dealer customers.

Replacing Rowley as the head of Cox Business is Keith Holmes, senior vice president of Residential Sales for Cox Communications. Holmes brings 30 years of experience to this new role and held several leadership positions at AT&T prior to joining Cox Communications.

KAR Auction Services Inc.’s recent enhancements to ADESA.com/ADESA.ca, allow customers access to fresh inventory and dealer-trades instantly via TradeRev. This new single sign-on technology offers customers seamless continuity between the two digital channels, the company reported.

“The power of both ADESA and TradeRev digital marketplaces are seamlessly combined through this integration, enabling buyers to find, manage and source from even more inventory—faster, easier and more confidently than ever,” said Rick Griskie, KAR’s president of digital marketplaces. “With a single login, buyers now have instant access to approximately 80 percent of North America’s off-lease inventory and high quality, retail-ready trade-ins—including roughly 60,000 vehicles per day via ADESA’s digital platforms—and real-time, live bidding from TradeRev.”

Features on the modernized ADESA.com/ADESA.ca sites include a dedicated tile enabling all users to connect to TradeRev instantaneously. Through KAR’s single sign-on technology, existing TradeRev buyers can bid and buy instantly without an additional log-in step, while dealers without a TradeRev log-in can view inventory with one-click of a button and complete registration online to transact on the platform.

KAR is in the process of rolling out the modernized ADESA.com/ADESA.ca interface to all users.

Cox Automotive reported sales of certified pre-owned (CPO) vehicles increased 9 percent year over year in June and were up 10 percent month over month compared to May. For June, 261,586 CPO units were sold.

CPO sales were on a record-setting pace the first two months of the year before COVID-19, Cox reported. Reflecting huge decreases in March and April, CPO sales are down 11.7 percent for the first half of this year versus the same time in 2019, with 1,238,919 CPO units sold through June. In the first six months of 2020, the CPO market is more than 160,000 units below last year.

For June, Toyota, Honda and Chevy continue to be the biggest players in the CPO market, collectively representing a third of all CPO sales. Those three plus Ford and Nissan account for 44 percent of CPO sales so far in 2020. Last year, Toyota, Honda and Chevy accounted for 32 percent of the total industry CPO sales reflecting that brands are maintaining consistent CPO sales share this year compared to 2019.

Stronger CPO sales in June were part of a larger recovery of the overall used-vehicle market. According to Cox Automotive estimates, total used-vehicle sales volume was down 12-percent year-over-year in June. In comparison, the new-vehicle market was down by 27 percent. 

For the first half of 2020, the non-luxury segment had 941,352 total CPO sales, a 12.1-percent year-over-year decrease. Ram, with 35,579 CPO sales, performed best with a 1.1 percentage point gain in share compared to last year. Nissan rounded out the segment for 2020 with a decrease of 1.1 percentage points in share year over year.

For the luxury segment, 291,868 CPO sales were made in the first six months of 2020 for a 10.4-percent drop compared to a year ago. Mercedes-Benz outperformed the competition with a 1.2 percentage point gain year over year and 61,272 CPO sales for 2020. Porsche reported record-setting CPO sales in June, selling nearly 3,000 CPO vehicles last month, versus 5,000 new vehicles. Lexus lost 1.6 share within the segment and fell 20.3 percent in CPO sales compared to first half 2019.

Ebay Motors, one of the world’s largest auto marketplaces, is adding escrow and chat features. To give buyers and sellers added security when buying a vehicle and parts and accessories online, eBay has partnered with Escrow.com, a provider of secure online payments, to make the services available on eBay Motors and in the eBay Motors App. Additionally, eBay is launching two new chat features within the app allowing auto aficionados to interact with one another to discuss vehicles and live listings.

New chat functionality facilitates conversations between buyers, sellers and the eBay Motors app community at large in an entirely new way. Potential buyers can chat with sellers quickly and easily to discuss a specific vehicle and price, while the broader user base of enthusiasts and casual users can comment on current listings, their favorite cars and their overall passion for everything automotive.

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