KAR Global got a big shot in the arm to help its operations, technology, digitization and development amid the recovery. The company announced a $550 million strategic investment Tuesday led by Apax Partners-advised funds that KAR’s chief executive says will “help us continue to support our global customers and further accelerate our digital transformation.” KAR plans […] [Read More]

The data series used by KAR Global Analytical Services goes back to 1994 — another time when Major League Baseball wasn’t being played, but for a far different reason than the current coronavirus pandemic. When KAR Global chief economist Tom Kontos and his team finalized their wholesale price information for March and April, they found […] [Read More]

Barrett-Jackson, which produces collector car and automotive lifestyle events, says it set two world collector car auction records during its online-only auction in May. Barrett-Jackson chairman and chief executive officer Craig Jackson said teaming up with NASCAR team owner Richard Childress for the sale of his original No. 3 Dale Earnhardt NASCAR race car was […] [Read More]

Through a new partnership between tech-enabled automotive logistics and services company ACERTUS and auto inventory management platform company AutoIMS, ACERTUS will be able to connect to AutoIMS as a logistics provider. According to the companies, that will connect automotive auction and consignment shippers to capacity of pre-approved, vetted carriers representing 20,000 trucks. ACERTUS co-founder and […] [Read More]

Black Book’s newest COVID-19 Market Update released on Tuesday described how auctions, consignors and dealers all are continuing to acquaint themselves with the “normal” within the wholesale market. Analysts are seeing more indications of a late spring market regenerating a bit as buyers adapt to relying on online technology to make inventory decisions. Black Book […] [Read More]

An upcoming CARFAX Insiders Webinar will help dealers learn how they can use history-based value to help them make more informed buying decisions and build customer confidence to boost sales. Darrell Sherwood and Robert Grill will speak at the webinar on the CARFAX History-Based Value pricing tool, and Sherwood and Grill are part of the […] [Read More]

Copart now has two locations in Utah. The global online vehicle auction company announced on Monday that it opened a new 45-acre location in Salt Lake City. According to a news release, this addition represents Copart’s second location in the state, serving the growing needs of vehicle buyers and sellers. The company also operates a […] [Read More]

Not to get too philosophical here, but as it turns out, necessity is indeed the mother of invention — and that includes the auto auction business. What started off as a “tool of necessity” for KAR Global as it rebooted auction sales in early April has emerged as another digital auction sales alternative — and […] [Read More]

The National Auto Auction Association made a pair of resources available on Friday to help members as they navigate the challenges of orchestrating sales and serving their consignor and dealership clients while the coronavirus pandemic continues. Along with an informational video, NAAA distributed an 18-page document titled, “Playbook: Auction Start-up, Response to COVID-19.” NAAA president […] [Read More]

Digital buying in the wholesale space. Manheim says a great deal of discussion is taking place about that topic. But Manheim Digital vice president Zach Hallowell says sellers need as many options as possible to liquidate inventory, as the wholesale market “continues its steady climb.” “No matter what their disposition strategy is, consignors have convenient […] [Read More]