In his new role as vice president of data science and analytics for KAR Global, Chris Simokat will lead all DRIVIN-powered data science functions for the company. He will also oversee data analytics that are fueling KAR’s suite of data as a service (DaaS) platform capabilities delivering actionable intelligence to customers. Simokat’s experience includes more […] [Read More]

Next up on our series of podcasts from NADA Show 2020 last month in Las Vegas, ACV Auctions chief executive officer George Chamoun reflects on his first trip to the annual NADA convention three years ago and the company's growth since then. Plus, Chamoun discusses the tech ACV plans on building this year, how it […] [Read More]

The Manheim Used Vehicle Value Index literally is on a record-breaking start to the year. Cox Automotive reported wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.35% month-over-month in February. This movement pushed the index up by 6.2% from a year earlier, leaving the index at a new record high of […] [Read More]

AAA reported on Monday that the nationwide average price for a gallon of gas stood at $2.38 with some locations like Texas, Oklahoma and Mississippi approaching the $2 mark. That’s the lowest cost at the pump in more than a year, according to AAA. As a result, Black Book is seeing values for fuel-efficient vehicles […] [Read More]

After an admittedly challenging 2019 for its TradeRev business unit, KAR Global outlined several adjustments to its approach for that digital dealer-to-dealer auction property in an earnings call last month. Among those adjustments: changing the go-to-market strategy for TradeRev, blending the TradeRev and ADESA sales teams and trimming incentives. And in a follow-up interview with Auto […] [Read More]

Two more Manheim locations are now 100% digital, the auction company announced Tuesday morning. Less than a year after Manheim Tucson became the first to use this format, the company has converted Manheim Flint and Manheim Houston to all digital. Through this format, cars are parked in designated spots and sold to buyers both physically […] [Read More]

When you think of a digital versus brick-and-mortar business model, consider Amazon and Walmart. While pieces of their operations may lean more heavily either direction, neither is completely physical nor completely digital. Peter Kelly, who is president of KAR Global, uses that analogy to illustrate the operations of the auto auction business. KAR is the […] [Read More]

In the aftermath of the storms that hit Tennessee early Tuesday, Manheim provided an update Friday afternoon on its Nashville-area location. Manheim Nashville is still closed, but it has accounted for all 619 of the auction’s employees, the company said. “With several buildings on our property severely damaged, services such as reconditioning are not available. […] [Read More]

In response to the COVID-19 coronavirus, Manheim is requesting that employees avoid international business travel through the end of the month, while limiting domestic business travel and large group meetings in the same time frame. That’s according to a statement provided by the auction company on Friday, which said Manheim is activating its Business Continuity […] [Read More]

A new Concord, N.C., location for global online vehicle auction company Copart will be its sixth North Carolina site. The company said the opening of the location is a “response to the increasing demands of automotive buyers and sellers.” The new location will serve the Concord community by creating new jobs, Copart president Jeff Liaw […] [Read More]