KAR Auction Services chief legal officer and corporate secretary Becca Polak, who is also the president of the company’s TradeRev business unit, has submitted a notice of resignation from KAR, the company said in a statement Monday. KAR general counsel Chuck Coleman will take on responsibilities of corporate secretary while remaining in the general counsel […] [Read More]

Peter Kelly says OPENLANE, a business unit of KAR Auction Services, is celebrating its 20th anniversary and sharing its success by helping the cause of the United Food Bank of Mesa, Ariz. “We’re honored to commemorate our landmark anniversary and share our success by contributing to their efforts to alleviate hunger and poverty,” said Kelly, […] [Read More]

There appeared to be a bit of a dichotomy in the wholesale vehicle market last month. The Manheim Used Vehicle Value Index reached a record high (141.3) and was up 1.2% year-over-year. Mix-, mileage- and seasonally adjusted, there was a 0.62% bump up in wholesale prices from July. But the comparison to last August is […] [Read More]

If your store can turn luxury cars quickly, your opportunity for decent gross might be at hand stemming from how wholesale prices for those high-line units are moving. The newest Black Book Market Insights report showed wholesale prices for luxury cars again softened at a much higher rate than the overall car reading. “Luxury-segment declines […] [Read More]

Dealer credentialing services provider AuctionACCESS describes itself as “a dealer’s key to the wholesale marketplace.” Now, AuctionACCESS says it is strengthening its commitment to independent dealers through a new alliance with the National Independent Automobile Dealers Association. AuctionACCESS is now a Bronze-level national corporate partner of NIADA. “We will continue to work with NIADA members […] [Read More]

Manheim has launched two new features to its Manheim Express app, one of which will allow dealers to manage offers directly within the Manheim Express app. Manheim wants the Manheim Express buyer experience to help dealers make fast but confident purchasing decisions, said vice president of offsite solutions Derek Hansen. “And we continue to up […] [Read More]

Experian’s latest quarterly data report again mentioned how consumer affordability is impacting auto-finance metrics. And consumer affordability also impacted Black Book’s Used Vehicle Retention Index for August. This week, analysts released their latest index reading, which showed that August posted a 1.4% lift on a sequential basis. The index came in at 116.6, up from […] [Read More]

Black Book’s team of analysts are looking to see how much used metal dealerships turned during Labor Day weekend to get a better handle on how wholesale prices might move during the remainder of the year. Heading into the holiday sales stretch, the Black Book Market Insights report showed wholesale values didn’t change much as […] [Read More]

The Oct. 1 edition of Auto Remarketing will celebrate the National Auto Auction Association's annual convention. One of the features in that special NAAA Convention Issue is the semiannual “Spotlight on Commercial Consignors,”  where we invite commercial consignors to have their listings included in a directory for the wholesale auto industry.  If you would like to be added […] [Read More]

ADESA has named new general managers at three of its auctions, for two in the United States and one in Canada. Jeff Hyde is the new general manager at ADESA San Diego. At ADESA Northwest in Eugene, Ore., Kjersta Loyd is the new general manager. And Matthew Creese is the new general manager at ADESA […] [Read More]