Along with touching on the latest certified pre-owned sales data he could share, KAR Auction Services chief economist Tom Kontos used a gardening analogy to describe how the spring wholesale market reached “full bloom in April.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, analysts reported that wholesale used […] [Read More]

In response to what it describes as growing demand from its customers for mobile sales, ADESA on Thursday named Matt Laughridge to the newly created position of general manager of ADESA Mobile Auctions. Also, the company promoted Sawyer Walker from regional to national manager of the company’s dealer-to-dealer sales program, ADESA UVA. ADESA said in […] [Read More]

It’s spring, so that means a new crop of talented graduates have turned the page (and their tassels) and are about to enter the workforce. But how do you attract the best and brightest of these to work for your auto auction? That question is especially important amid recruiting challenges in the auction industry and as new […] [Read More]

As leaders of many family-owned businesses, ServNet owners take a strong interest in their employees, says Greater Rockford Auto Auction owner Ryan Clark. “ServNet’s scholarship program is a great way for us to encourage the members of our auction families and to help lay the groundwork for the next generation that follows,” Clark said in […] [Read More]

The unofficial start of summer is just ahead with Memorial Day weekend coming, but the wholesale market is still seeing a few signs of the spring market. This week’s Market Insights report from Black Book indicated that the spring market has been persistent through the middle of May. “Prices remained stable for a second consecutive […] [Read More]

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]