It was quite the quarter and it has been quite the year for KAR Auction Services. The multi-pronged impact from two hurricanes that bear some influence on KAR’s whole-car and salvage auction businesses. Purchasing DRIVIN and Dependable Auto Shippers, and buying the remaining interest in TradeRev. All while keeping pace with a dynamic wholesale marketplace […] [Read More]

Dealers have submitted over 100,000 live trades on the Appraisal Lane app since its launch in just over two years, the company announced Tuesday. This follows The Appraisal Lane’s September announcement that it recently expanded into the Upper Midwest. The company now has markets across the entire Eastern Seaboard, Pennsylvania, Ohio, Illinois, Michigan, Indiana, Wisconsin […] [Read More]

Leaders from Black Book and General Motors Financial recently used the adjectives “steady” and “stable” when describing how the wholesale market is behaving. The latest Black Book Market Insights report indicated used vehicles across most segments are depreciating at a “steady” rate. Editors determined only two vehicle segments — compact vans and sub-compact luxury crossovers […] [Read More]

Barrett-Jackson recently raised $1 million for Las Vegas first responders during its 10th annual Las Vegas Auction at the Mandalay Bay Resort and Casino. The five charity vehicles featured in the sale included a rare 2007 Ford Shelby GT500 Super Snake owned by Barrett-Jackson president Steve Davis, which sold for $1 million, according to Barrett-Jackson. “As […] [Read More]

Copart recently expanded two locations in Memphis, Tenn., and Reno, Nev. The two expansions follow Copart's growth of its New Orleans location last month. "This year, we've announced an unprecedented number of land expansions. With existing locations and operations around the nation, these expansions allow us to continue to efficiently meet the total loss demands of our […] [Read More]

The best part of the used-car industry for Scott Mousaw isn’t just applicable to the world of automotive. “What I enjoy most about it is not unique to the business. I enjoy the process,” he said in a phone interview. “I enjoy looking at how or what we’re doing, what I’m doing as a consignor, […] [Read More]

The ServNet Auction Group has added another member: Metro Auto Auction Phoenix. The auction, which opened in 2007, is led by managing partner Tom McDermott and is part of the Berkshire-Hathaway Automotive Group. ServNet last added an auction in November 2016, when Houston Auto Auction joined the group. In October of last year, ServNet added […] [Read More]

There are a lot of things typical for autumn: leaves changing colors, the World Series and the air getting cooler (sort of).  This autumn, the pattern in used-car values is anything but typical.  Used vehicles continue to hold their values better than what’s expected for this time of year, according to Black Book, which said […] [Read More]

Auction Edge announced Friday it has attained over 115 customers running its EDGE Simulcast platform powered by Velocicast and brought aboard new senior vice president Julie Warpool to oversee the augmentation of all the company's auction systems. “In partnership with the developers behind Velocicast we committed to crafting an unparalleled user experience for auction user, buyer and seller. […] [Read More]

An accomplished musician beyond his analytical chops, KAR Auction Services chief economist Tom Kontos has previously seen a storm-themed song play its familiar tune in the wholesale market. The company’s latest data showed the melody showed up again in September. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model […] [Read More]