In another development related to the upcoming spinoff of Insurance Auto Auctions from KAR Auction Services, IAA Spinco Inc. — which will be renamed IAA — announced a proposed senior notes offering Monday morning. Specifically, IAA said in Monday's news release it intends on offering (subject to market conditions) an aggregate principal amount of $400 million […] [Read More]

This week, Veros Credit, a finance company that specializes in the subprime space, announced the winner of its Auction of the Year. Earning the accolade was North Bay Auto Auction of Fairfield, Calif. Veros Credit officials said North Bay AA was chosen this year for its excellence in overall inventory management, retention and customer service. […] [Read More]

The newly completed 20,000-square-foot reconditioning facility at Texas Lone Star Auto Auction includes features such as 14 mechanical bays with 10 lifts and three state-of-the-art detail lanes. XLerate Group Auctions’ Texas Lone Star Auto Auction also added two lanes to the six auction sales lanes it currently uses. “And we have increased our dealer sale […] [Read More]

ADESA has named new general managers for its auctions in Salt Lake City and Des Moines, Iowa. The company said in a news release that both new GMs bring “decades of auction industry experience and will help advance ADESA’s customer-focused strategies.” The company appointed Kevin Stumm as general manager of ADESA Des Moines. Jeff Brinkley […] [Read More]

Manheim says its new integration with what it describes as “the largest transportation platform in the industry” can help dealers handle vehicle transportation more simply and easily. The company says its integration with Central Dispatch is part of its broader strategy to help dealers make good use of “new digital technologies to more efficiently run […] [Read More]

After 12 years in the position, Pierre Pons will step down from his role as chief executive officer of ServNet Auctions at the end of 2019. ServNet will move to a single executive director system, which it had before Pons became CEO in 2008, versus its current corporate staff operation. “Ten years is a solid […] [Read More]

Could a digitally based ratings system, like we see in retail, help with conversion rates in wholesale? Kelly Bianchi, president of AuctionVCommerce, discusses that and more with Cherokee Media Group president Bill Zadeits in this podcast recorded at the CAR Conference in Las Vegas earlier this year. The full discussion can be found below. Download […] [Read More]

The Black Book Market Insights report released Tuesday had this anecdote from auction lane commentary in Georgia: “SUVs flooded the lanes today. In general, prices remained high as the stability of the market continues." Strong and stable. Such was the wholesale market last week. Wholesale prices were fairly steady, according to that Black Book report, […] [Read More]

KAR Auction Services chairman and chief executive officer Jim Hallett calls its 2011 acquisition of upstream remarketing platform OPENLANE a significant milestone for KAR “that ignited the digital transformation for our company and really, for the entire industry.” “Throughout the years, OPENLANE has continuously reset the bar for upstream remarketing through invention, innovation and signature […] [Read More]

Alliance Auto Auction was founded in Texas in 2011 and has operated four locations in the state. But Alliance’s chief executive officer Tim Adams has had a long-term goal to open an auction in Austin. He has now met that goal. Alliance Auto Auction is opening a new 35-acre greenfield facility in Austin. The auction […] [Read More]