ADESA is looking to make returning a vehicle back to the auction as easy as what dealers might experience when those shoes or pants just don’t fit correctly. On Wednesday, the business unit of KAR Auction Services, launched a new return guarantee product called ADESA Assurance. The company highlighted the new service can allow participating […] [Read More]

Black Book explained why used-car managers should not get frustrated when they see new utility vehicles frequently rolling over the curb on the new side of their dealerships. Turns out, those cars lined up in used inventory are a pretty valuable asset nowadays. This week’s Market Insights report from Black Book illustrated the continued support […] [Read More]

Manheim Texas Hobby recently finished adding a new paving system, water reclamation center and upgraded security thanks to a two-year investment in sustainability enhancements of $6 million-plus. Manheim recently announced that three key initiatives have been completed this month to help improve conditions and reduce risks at the auction. “Our innovative and creative solutions are as […] [Read More]

Southeastern Auto Auction of Savannah hit the double deuce and celebrated on Aug. 15. Southeastern AA held its 22nd anniversary sale and offered a variety of vehicles from franchised and independent dealers as well as institutional accounts. The auction said a huge crowd was in attendance both in the lanes and online. Dealers enjoyed free […] [Read More]

Perhaps the surprising summertime surge in wholesale prices might come to an end before Labor Day arrives. Following a rise in July on par with other industry watchers have seen, J.D. Power Valuation Services is projecting that wholesale prices of vehicles up to 8 years in age are expected to soften by about 0.5 percent […] [Read More]

Through July, auction volume of late-model vehicles is up 4.2 percent from where it was after seven months of 2017. That’s according to the latest Guidelines report from J.D. Power Valuation Services, which defines late-model, in this case, to be vehicles up to 5 years in age. And the increase in that slice of auction […] [Read More]

Copart has opened a new South Carolina location on almost 100 acres of land in the city of Spartanburg. The company announced Thursday that its new Spartanburg auction is located at 1921 Nazareth Church Road. This news comes just a few months after the company made an announcement in June that it has opened a new North […] [Read More]

ADESA has named a new auction general manager for its ADESA Phoenix location, who brings 25 years of auction experience to his new role. The company announced Thursday that it has chosen Rod Davis from ADESA Brasher’s to head up its Phoenix-area auction located in Chandler, Ariz. Davis, who most recently served as ADESA Brasher’s assistant GM, has been an […] [Read More]

ACV Auctions has brought aboard a new company chief financial officer and chief corporate development officer. The company announced Wednesday that it has named Matthew George to serve as CFO and Craig Anderson to serve as chief corporate development officer. “We have achieved a tremendous amount in a few years,”ACV Auctions chief executive officer George Chamoun […] [Read More]

Basic mathematics says that five times any number except zero can result in a significant figure. While five times one equals five, five times 500 equals 2,500. And five times … OK, let’s not have to retrieve the calculator on your smartphone. However, Black Book executive vice president of operations Anil Goyal broke out the […] [Read More]