ServNet president Kevin Brown recently announced that the group plans to form a Client Advisory Board, which will be made up of 10 to 12 executives who represent key commercial accounts and institutional consignors. "The formation of a Client Advisory Board is an exciting new element in ServNet's ongoing efforts to build relationships, enhance communications and streamline […] [Read More]

ServNet recently announced that Louisiana's 1st Choice Auto Auction (LFCAA) of Hammond, La., one of its auction members, has chosen to promote two of its employees. Bridget Higginbotham, who has been with LFCAA for 14 years, has moved into the role of new business development director. Meanwhile, Katie Alombro, who has been with the auction for eight years, was […] [Read More]

ADESA Remarketing Limited, the UK affiliate of ADESA, announced recently that by way of its successful partnership with Arval, both companies have newly collaborated with Motability Operations to lead the transition to upstream defleet remarketing in the UK. This move allows ADESA to offer an increased volume of used vehicles on its upstream mobile technology platform […] [Read More]

KAR Auction Services chief economist Tom Kontos didn’t quote A Tale of Two Cities in his latest commentary about the wholesale market. But Kontos did make a play on words similar to the novel by Charles Dickens, saying “the tale of two markets resumed in March.” According to ADESA Analytical Services’ monthly analysis of wholesale […] [Read More]

Auction Management Solutions (AMS) announced that earlier this month the firm partnered with Oklahoma Auto Exchange in Oklahoma City for business development consulting. Oklahoma Auto Exchange started back in 2005, offering a weekly sale every Wednesday morning across four auction lanes, operating in a facility consisting of 128,000 square feet situated on approximately 18 acres […] [Read More]

A little more than a month after opening ADESA Chicago, KAR Auction Services made another big  move in the Windy City on Wednesday. KAR announced it has acquired Chicago-based DRIVIN in a $43 million stock purchase transaction. The company, whose official name is CarCoTechnologies and does business as DRIVIN, was founded in 2015 by Groupon […] [Read More]

Columbus Fair Auto Auction  announced that it has been tapped for the second year in a row by Ally Financial to receive its Leadership Auction of the Year award in recognition of its overall sales performance last year. “We value the Ally Financial relationship and strive to differentiate our auction through process and execution”, Alexis […] [Read More]

While noticing that March wholesale prices rebounded by 1.6 percent, the team at NADA Used Car Guide, a division of J.D. Power, is expecting the market to give back much of that gain in April. According to the latest issue of Guidelines released on Tuesday, NADA UCG indicated that prices of vehicles up to eight […] [Read More]

Black Book’s latest recap of bidding activity and price movement showed how aggressively dealers are getting in the lanes either in person or online. As certain units kept auction ringmen busy, the Black Book Market Insights report indicated 13 out of the total 22 vehicle segments saw an increase in average value. On the other […] [Read More]

Perhaps showing the roots of a prolonged trend, Black Book reported that its latest Used Vehicle Retention Index — calculated using the company’s published wholesale average value on two- to six-year-old used vehicles as percent of original typically equipped MSRP — stood at 113.0 at the end of March. The reading represented a 0.8-percent decrease […] [Read More]