In two separate investor notes this week analyzing the respective earnings results of ACV and OPENLANE, John Healy of Northcoast Research describes the wholesale vehicle market as “thawing.”

This melting “ice,” so to speak, should come as a warm welcome to the overall used-car ecosystem, which has dealt with an avalanche of up-and-down prices and is in dire need of liquid assets (i.e. pre-owned supply for dealer lots).

“Q4 financial results from ACV were reflective of our view that wholesale industry pressures are ...