Not-So-New Kid on the Block in the Wholesale Shakeup, ASOTU CON Pre-Sign

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

We’ve got a special episode today as we talk about the rapidly shifting wholesale market. We also have the honor of being the first to announce the big move of ASOTU Investor and long time dealer, Brian Kramer as he is named EVP Cars.com to be Head of used car acquisition platform AccuTrade. Hang on everyone, we’re comin’ in hot on a Monday.

• Wholesale auctions race to reinvent amongst rapid change in dealer and consumer behaviors
  • “J.D. Power estimated that volume at traditional auctions was at 64,276 vehicles for the week of May 16, down from 111,876 vehicles for the same week in 2019.”
  • The 2 largest, Manheim and Adessa are leaning into digital but not abandoning physical
    • Manheim: "Our physical space is not just about the auctions…(it is)...for us, a key asset that we plan to have forever. We don't have any intentions of selling it."President of Manheim, Grace Huang
    • They are reconfiguring for an expected influx of EVs
    • Adessa: Now owned by Carvana, largely purchased for physical locations for reconditioning and processing
  • Dealers have adapted to new restrictions and speed requirements as they have continually refined processes to acquire used inventory directly from consumers
• Brian Kramer is named EVP of Cars.com, Head of AccuTrade
  • CARS acquired AccuTrade earlier this year

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Hosts: Paul J Daly and Kyle Mountsier
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