As part of CarMax Auctions Customer Appreciation Months for registered dealers, customers can look forward to upcoming events filled with catered meals and giveaways. Customer appreciation events are set to take place at each of the company’s 73 auction locations throughout September and October. CarMax Murrieta, the company’s largest auction facility on the West Coast, […] [Read More]

As passionate as Jim Hallett spoke about the ways KAR Auction Services is geared up to handle the wholesale market workload coming because of Hurricane Harvey, the company’s chairman and chief executive officer emphasized more than anything during an exclusive conversation with Auto Remarketing on Friday how the well-being of nearly 1,000 employees in the […] [Read More]

Cox Automotive chief economist Jonathan Smoke on Friday estimated vehicle losses caused by Hurricane Harvey to come in between $2.7 billion and $4.9 billion in the Houston market alone. While that projected figure includes dealerships’ used-vehicle inventory since those units are classified as vehicles in operation, Smoke indicated that loss figure could swell even more […] [Read More]

As auctions in the region continue to modify their businesses in the wake of Hurricane Harvey, Black Book shared an estimation on Thursday morning that 500,000 to 1 million damaged vehicles will have to be replaced in the city of Houston and surrounding regions. The National Weather Service said on Wednesday that the storm dumped […] [Read More]

Both portions of the RVI Group’s latest analysis of wholesale prices showed an upturn from June to July but softening versus year-ago figures. The RVI Used Vehicle Price Index (Real) increased from June to July by 0.9 percent. However, when compared to July of 2016, prices were down by 3.8 percent. The firm’s Used Vehicle […] [Read More]

Hertz Global Holdings is bringing aboard a new chief marketing officer and a new chief human resources officer. Hertz said Wednesday that Jodi Allen will join the company as executive vice president and CMO on Oct. 2; Murali Kuppuswamy becomes executive vice president and chief human resources officer on Sept. 12 Allen was most recently the […] [Read More]

Along with the perspective of an auction owner from the West Coast, the latest Black Book Market Insights report took a look at comparing the weekly retention strength of cars and trucks dating back to the beginning of the year. Editors found that cars have started to see larger depreciation since late spring after a […] [Read More]

Two ServNet member auctions have implemented the Deal Shield buyback guarantee assurance product from Cox Automotive, and two more are set to utilize the program, as well. That’s according to a news release from ServNet, which said BSC America’s Bel Air Auto Auction and Tallahassee Auto Auction have already begun using the DealShield program. Up […] [Read More]

ADESA announced Thursday that its Kansas City auction recently raised a total of $50,457 for a local children’s hospital. The auction held a special sale and live charity auction event named  “Cars-n-Kids” for Children’s Mercy Kansas City. In addition to donating $150 for every car sold during the sale, ADESA Kansas City sold event T-shirts, hosted a […] [Read More]

BSC America Auction Group said Thursday that its new facilities for the Bel Air Auto Auction in Belcamp, Md., will welcome customers in September following several years of planning and 24 months of construction. Bel Air’s new 185-acre location will also house BSC America’s corporate headquarters and regional staff, according to the company. The auction will host its […] [Read More]