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Korean logistics giant acquires US auto auction, plans used-car retail network

Hyundai Glovis, the logistics arm of Korean conglomerate Hyundai Group, has acquired a family-owned automotive auction in Pennsylvania. It is the first acquisition in a national wholesale to retail business Hyundai Glovis plans to build in the United States. “In Korea, Glovis is the largest auction house. The US is the largest used-car market in the world. Hyundai wanted to be able to tap into it,” Kurtis Johnson, national manager of the used-car business at Glovis America, Inc., tells Auto Remarketing. Hyundai Glovis includes . ....

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