Finance company Exeter says its auction partners “are a vital part of Exeter’s servicing arm.” “They are asked to perform transportation of thousands of units, reconditioning, redemptions and most important, market to our dealer base,” the company said in an emailed statement Exeter continued, “The stronger the marketing of our brand, the more dealers that […] [Read More]

Auction Academy’s current two-year class group, Class 6, met Feb. 27-29 for the fourth of eight training and education sessions. Auction Academy is a career-continuing education program from TPC Management Co. for auto auction industry professionals. The sixth class group launched last May in Birmingham, Ala. Tom and Cathy Adams hosted the group for dinner […] [Read More]

Black Book generated a wide-ranging update as both the wholesale and retail segments grind to nearly a halt in many places because of the coronavirus pandemic. Analysts also offered both short-term and long-term projects about when activities and values might rebound, depending on severity of a recession. Black Book began by noting that Manheim was […] [Read More]

In a letter to President Donald Trump last week, National Auto Auction Association chief executive officer Frank Hackett voiced his support of efforts made by franchised and independent car dealers, who are asking the president for clarification that sales and leasing at their stores is an essential service. Hackett also emphasized the importance that auto […] [Read More]

In an update from president Grace Huang, Manheim said Friday it will “extend our current auction operations, as local, state and national directives allow,” continuing to hold Simulcast-only sales at locations as allowed by such directives. All Manheim auctions remain closed to buyers and sellers on sale and non-sale days; the only visits allowed are […] [Read More]

It is possible that KAR Global could reopen some ADESA auctions in early April, chief executive officer Jim Hallett said in a call with the investment community on Friday that detailed a wide range of company updates, including cost-cutting measures, operational statuses and more. On March 20, KAR said it was stopping all ADESA physical […] [Read More]

Hertz is looking to make sure medical personnel in one of the U.S. locations hardest hit by the coronavirus pandemic have reliable transportation. This week, Hertz started to provide free vehicle rentals to New York City healthcare workers via a program set to run through April 30. The company said healthcare workers can reserve a […] [Read More]

Along with scheduling a conference call to offer more details of the current state of business, KAR Global on Thursday morning outlined five adjustments the company has already made stemming from the coronavirus pandemic. “The coronavirus pandemic continues to impact our company, industry and markets around the globe,” KAR Global chairman and chief executive officer Jim […] [Read More]

Before delving into its newest wholesale price data, the latest Black Book Market Insights report offered a reassuring assessment of how auctions, consignors and dealers adjusted to how the coronavirus pandemic has forced the industry to operate. Black Book vice president of vehicle valuations Laura Wehunt began by saying, “This past week we saw big changes […] [Read More]

Leaders representing the major constituencies of the auto auction industry continued their weekly teleconference calls on Monday, updating one another on their respective responses to the COVID-19 pandemic. Auto Remarketing caught up with National Auto Auction Association chief executive officer Frank Hackett by phone for a rundown on the latest. Among the updates: NAAA president […] [Read More]