IAA said it would break ground for three new branch locations in Colorado Springs, Colo., West Palm Beach, Fla., and Port Murray, N.J. Highlights of the new facilities include vehicle inspection center space, a dedicated VIC drop zone area, and covered motorcycle storage. The company also indicated the new West Palm Beach and Port Murray locations will […] [Read More]

Wholesale prices are softening, but KAR Global’s September data show they still have a way to go before returning the level auctions and dealers saw a year ago — or even before the pandemic arrived. According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale prices in September […] [Read More]

Another ramification of Hertz’s bankruptcy filing surfaced on Friday. Hertz Global Holdings announced that its common stock will start trading exclusively on the over-the-counter market. Stock quotations will be available on the OTC Bulletin Board — known as Pink Sheets — under the ticker symbol HTZGQ. The company explained that the New York Stock Exchange […] [Read More]

In a special preview for our CMG Premium subscribers, Auto Remarketing is offering an early look at the data and insights from our Best Auto Auctions to Work For program for 2020. The full study and feature story will be available in the November issue of the magazine.  But for a sneak peek at the Best […] [Read More]

In a special preview for our CMG Premium subscribers, Auto Remarketing is offering an early look at the data and insights from our Best Auto Auctions to Work For program for 2020. The full study and feature story will be available in the November issue of the magazine.  Part II of our Best Auto Auctions to […] [Read More]

Black Book reported wholesale values declined for the seventh week in a row. Meanwhile, analysts said in their latest COVID-19 Market Update that after falling two weeks ago, retail prices for used vehicles have stabilized. According to Black Book’s volume-weighted data, overall car segment values decreased 0.74% over the past week. The drop was larger […] [Read More]

KAR Global says it has enhanced its ADESA.com recommendations carousel to include dealer trade-ins from TradeRev. The updated recommendations carousel is the latest of modernizations to ADESA’s digital marketplace. The company said the modernizations can help dealers find profitable and high-demand used vehicles tailored to their unique business needs. KAR said that with the new […] [Read More]

Auto Remarketing’s Best Auctions to Work For, presented by CARS Recon, is a free workplace study for the auto-auction industry that recognizes the best auto auctions to work for on an unranked basis. The program, now in its fifth year, is designed and intended for individual physical auction locations and digital auctions, as well. Auto Remarketing, […] [Read More]

Editor's Note: Updated to clarify that Mecum resumed live auctions in June. A traveling show that would rival a Rolling Stones stadium tour or the digital production power of a Super Bowl network TV crew is back out on the road and performing to adoring crowds once again. Mecum Auctions and its supporting cast of […] [Read More]

The U.S. Patent and Trademark Office has awarded a patent to IAA for information technology systems that IAA says facilitate “participation in multiple auctions offered in different locations at the same time.” U.S. Patent Number 10,810,659 is for “System and Method of Auction Management.” The patent contains 20 claims protecting and recognizing what IAA says are […] [Read More]