Late-model auction volume approaches 2 million

Joe Overby, Senior Editor

Year-to-date auction volume on late-model vehicles wrapped up August just a shade under 2 million units, with nearly a 22-percent sequential hike for last month alone. According to the latest Guidelines report from J.D. Power Valuation Services, the late-model auction volume tally of 1.94 million units through... Read More

Nick Zulovich, Staff Writer

Like KAR Auction Services noticed as well, both Cox Automotive and J.D. Power Valuation Services are watching closely how Hurricanes Harvey and Irma are impacting used-vehicle prices in September. And evidence is prompting analysts to modify their expectations for where the price readings might be by the end of the... Read More

Harvey needed only days to influence August prices

Auto Remarketing Staff

Hurricane Harvey landed in Texas with a week left in August, and its flooding left an immediate impact on wholesale price movements for the month, according to KAR Auction Services chief economist Tom Kontos. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model... Read More

Auto Remarketing Staff

CarLotz announced Tuesday it closed on a $30 million round of equity capital funding from TRP Capital Partners. The chain of used-car consignment stores will use the capital to continue its national expansion, as CarLotz seeks to set up retail locations in Florida, Texas, California, the Midwest, New England, and... Read More

Compact SUV demand keeps overall truck values steady

Auto Remarketing Staff

With some interesting anecdotes about how dealers are handling hurricane fallout, Black Book also highlighted how one specific segment impacted the entire truck segment. This week’s Black Book Market Insights report mentioned compact SUVs increasing their value noticeably, giving the truck segment an overall boost... Read More

KAR building new 250K-square-foot headquarters

Auto Remarketing Staff

KAR Auction Services will be building a new 250,000-square-foot corporate headquarters on a 13-acre campus in Carmel, Ind. KAR, which announced the roughly $80 million project Tuesday afternoon, said the new facilities will have space for an additional 400 jobs. Of its 17,400 employees, KAR said close to 1,600 are... Read More

Auto Remarketing Staff

Auction Academy’s largest class, class group 5, traveled to Spokane, Wash., this summer for training held in conjunction with McConkey Auction Group’s Rock & Roll sale at its DAA Northwest location in July. In addition to enjoying the concert event headlined by the Lynyrd Skynyrd Band, during their two... Read More

Auto Remarketing Staff

Copart announced Thursday the expansion of its New Orleans location, which marks the company’s 12th expansion this calendar year. "So far in 2017, we've expanded locations as far west as California, as far east as New Hampshire, and several in between," Copart chief executive officer... Read More