ADESA recently announced that via its new ADESA Rewards program, dealers can now earn points when they purchase qualifying vehicles and specialty units at U.S. auction locations and on ADESA.com. Earned reward points can either be converted for the purchase of merchandise, travel and gift cards or be used as ADESA Dollars that are valid […] [Read More]

More than 2.8 million late-model vehicles hit the auction market last year, according to J.D. Power Valuation Services. This marked a 3.2-percent bump in late-model auction volume, the company said in its latest Guidelines report. Some of those, of course, would be off-lease vehicles. Cox Automotive is anticipating 3.89 million off-lease units in 2018, which […] [Read More]

IARA announced Wednesday details about its upcoming town hall discussion on cybersecurity set for the last day of the Conference of Automotive Remarketing. Auto-ISAC’s Faye Francy and Jack Cooper Logistics' Andrea Amico will host the town hall next month. IARA said the two executives will discuss minimizing cybersecurity threats to the remarketing industry, along with […] [Read More]

Changing consumer behavior is forcing wholesale market experts to modify how they track pricing shifts. While recapping what happened in December, J.D. Power Valuation Services shared its latest wholesale price expectations for 2018, along with what analysts suspect will happen when the January data becomes available. According to the latest installment of Guidelines, J.D. Power […] [Read More]

Lynn Weaver has been named the first-ever executive director of the Independent Auction Group. Weaver is the former owner of Harrisburg Auto Auction, which he sold to Americas’ Auto Auction in December 2014 and then remained general manager until he retired from daily operations on Jan. 1 He was previously the volunteer co-chair of IAG, […] [Read More]

Black Book’s latest wholesale price data and anecdotes from the lanes offered vivid details about what’s happening when clean trucks and SUVs roll over the block. This week’s Black Book Market Insights report also indicated overall values are holding up well as the industry approaches the spring selling season. “Lower mileage trucks and SUVs continue […] [Read More]

This year, GM Financial is expanding its volume footprint nationwide — recently opening distribution centers in the Detroit area, Maryland and New York — to help move more vehicles across Southeast and Midwest markets that wouldn't normally get as many off-lease returns, says GM Financial vice president of remarketing, auction operations John Sullivan. “So pretty much every one of […] [Read More]

Insurance Auto Auctions announced Thursday the launch of its newest auction channel for targeted buying and selling — Ignite Auction — in conjunction with the grand opening of its IAA Ignite Auction location in Portage, Wis. Via IAA Ignite, sellers can consign vehicles utilizing the platforms suite of auction channels, IAA Live and Online, IAA Timed Auctions and […] [Read More]

A 2018 Chevrolet Corvette Carbon 65 from GM Financial, one of only 650 limited edition vehicles produced to commemorate the Corvette’s 1953 debut., was auctioned off at ADESA Los Angeles on Jan. 25. GM Financial said Wednesday that the amount the special vehicle sold for is currently undisclosed, however, Chevrolet's first retail production model of the […] [Read More]

ADESA will have a new president on Feb. 26. Parent company KAR Auction Services said late Thursday afternoon that Stéphane St-Hilaire, who has been ADESA’s president since early 2014, is resigning. Taking on the role is John Hammer, who had been chief executive of KAR’s Automotive Finance Corp. business until 2016. Hammer was most recently […] [Read More]