UPDATE: This story has been corrected to reflect the correct number of auction partners (23).  The list of partners in the portfolio of Auction Management Solutions (AMS) is now up to nearly two dozen.  According to a news release distributed on Monday, AMS has added Skipco Auto Auction, located in Canal Fulton, Ohio, to its […] [Read More]

Consumers today don’t think twice about opening an app on their smart phone, clicking a few buttons and ordering everything from a ride-share to a flat-screen TV. The digital era is transforming every part of our economy, and its impact on the wholesale vehicle marketplace is taking hold like never before. Last year, digital buyers […] [Read More]

Expanding its operational footprint in western Kentucky, online vehicle auction company Copart has acquired what it describes as “a leader in the remarketing of total-loss and fleet vehicles in the western Kentucky region for over a decade.” Copart’s acquisition of Vincent Auto Solutions in Greenville, Ky., adds a “strong local management team with long-standing customer […] [Read More]

Make it three consecutive months of sequential declines for the Black Book Used Vehicle Retention Index. On Tuesday, Black Book released its February index, noting that the reading came in at 114.5. That figure represented a 0.8-percent dip from January when it was 115.4. Editors added the index also has fallen 1.0 percent over the […] [Read More]

This week’s edition of Black Book Market Insights report offered analysis in four different places. Editors shared their assessments not only of the latest wholesale price trends and observations from the lanes, but they also touched on automakers’ recent decisions and what’s happening in the specialty markets. The newest report began with a prediction from […] [Read More]

David Vignes, who is president of remarketing services at KAR Auction Services, believes that if you asked all 18,000 employees at KAR Auction Services, “Who is Jim Hallett?” most would correctly say that Hallett is chief executive officer and chairman of the company. “But I can guarantee you that absolutely everybody knows Safe T. Sam,” Vignes […] [Read More]

There is a dealer group that acquires inventory through KAR Auction Services, and there is not a manager nodding to a ringman in the lanes or hitting the buy button on a mobile device. No, there’s not a ghost or a hologram getting sedans, utilities and trucks for this dealer body. KAR executive vice president […] [Read More]

It’s been a busy opening to the calendar year for Copart as the global online vehicle auction company also finished the second quarter of its 2019 fiscal year with increases in revenue, gross profit and net income. For the fifth time since the end of January, Copart announced the opening of a new facility or […] [Read More]

In 2018, Manheim’s Digital Marketplace helped make more than 2 million vehicle sales to digital buyers. Now, as part of Manheim’s $100 million investment in expansions to its Digital Marketplace through 2019, the company is offering a new service that teams dealers up with what it calls “a dedicated expert” to help them sell vehicles […] [Read More]

While also revisiting its outlook for the rest of 2019, J.D. Power Valuation Services looked back at the pair of challenges the used-vehicle industry encountered in January and the resulting impact on wholesale prices and more. According to the latest installment of Guidelines, the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index declined […] [Read More]