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]

North Bay Auto Auction in Fairfield, Calif., is the newest member of ServNet Auction Group, and ServNet president Bruce Beam is happy that the group will be represented by the auction in “the all-important Northern California/San Francisco Bay Area market.” Don Morrow founded North Bay Auto Auction in 1993 as a public auction facility. It […] [Read More]

George Chamoun sits in a covered office in ACV Auctions’ booth at NADA Show 2020 in Las Vegas, with three vehicles and a buzz of dealer activity in the company’s booth space outside the door. The ACV chief executive officer recalls his first NADA convention, which happened three years ago and some 1,800 miles away […] [Read More]

KAR Global chief client officer and longtime auction industry executive Tom Caruso plans to retire this month, the company announced Wednesday. Caruso’s four decades in the auction business has included time as ADESA’s president and chief executive officer, its chief operating officer and president of the National Auto Auction Association, among other posts. “Tom is […] [Read More]