It's a new era for the Greater Erie Auto Auction as they are now owned by Hyundai Glovis. Hyundai Glovis is a logistics company that is based out of South Korea and this is the first auto auction that they have purchased in the United States.

Not only is this a big acquisition for the company, but it will be a boost for the Erie economy.

On Tuesday morning, there was a ribbon cutting for the purchase that was two and a half years in the making. Between years of conversations and the pandemic, officials at both Hyundai Glovis and the Greater Erie Auto Auction were happy to see the day finally come.

Officials with the Greater Erie Auto Auction said they are excited that this South Korean based company has taken an interest in the region and said not only will this bring new cars to the auction but more jobs too, which will invigorate the Erie economy.  Chrissy Briggs, the General Manager at the Greater Erie Auto Auction said, "Glovis is coming in here of course, we have all heard the name Hyundai, we've all heard the name KIA, they actually have some money to spend and they are going to spend it here in our community, adding more and more jobs here at Greater Erie, and Greater Erie just got greater."

Briggs said the past few years have been challenging with supply chain issues and they know 2023 and 2024 will be filled hard work but are confident things will be back to normal in 2025.

Kurtis Johnson, the National Used Car Manager for Hyundai Glovis agrees and said, "We are constantly searching for more cars we can purchase and sell here at the auction and how we are going to make that happen and it's going to take some time, but with the supply chain it is what it is and that's what they say, so we will work around that and make that happen." 

As far as if their inventory from Florida has been effected by Hurricane Ian, officials said they don't get too many vehicles from down south but they won't know the extent of the damage for the next few weeks.

"Well we aren't going to see any of those cars for three or four weeks, but it's something that's going to take. Used cars are going to be hit in the market, but just like everything else, that's the best part about being an American, anytime we are faced with these kinds of challenges, after a while we stage a strong comeback after that", said Johnson.

The Greater Erie Auto Auction are also in the process of getting grants for electric vehicles and charging stations in the next few years as well.