KAR Auction Services reported a 14-percent year-over-year increase in first-quarter net income, pulling in $69.2 million, with operating revenues climbing from $758.2 million to $866.6 million. “Our first quarter 2017 results reflect a solid start to the year with contributions from across our diversified platform of businesses,” KAR chairman and chief executive officer Jim Hallett […] [Read More]

As vehicle values remained relatively steady, multiple Black Book representatives walking the lanes with dealers last week noticed consignment volume softened. Before going into those observations, here are the numbers from the latest Black Book Market Insights report. Editors indicated car segments decreased value slightly last week, but overall both cars and trucks held fairly […] [Read More]

Last week, Southeastern Auto Auction of Savannah hosted its annual Masters Sale and golf tournament, which is named after The Masters golf tournament that is held in Augusta, Ga., just a few hours away from the auction.  This year’s Masters Sale featured over 800 vehicles, and by the end of the sales event, the auction gave […] [Read More]

DAA Northwest recently announced that Rock & Roll Hall of Famers Lynyrd Skynyrd will take the DAA stage on July 19 for the auction's 22nd annual Rock & Roll Sale. “Each year, we put a lot of thought into bringing in a headliner that will be a great fit with our customers. Judging from the […] [Read More]

The National Auto Auction Association has teamed up with the Massachusetts Independent Automobile Dealers Association to raise money for the victims of last week’s crash at Lynnway Auto Auction and for their families, as well. NAAA said in a statement it is donating $25,000 and helping to promote MIADA’s Go Fund Me campaign: www.gofundme.com/lynnway-tragedy. The […] [Read More]

Manheim recently announced it has promoted Dave Rathjens of Manheim Lakeland, Greg Milam of Manheim Seattle and Martin Sandoval of Manheim Central California to general manager roles. “Manheim has a strong track record of developing our team members into leaders, and we’re fortunate to have these pros as new general managers,” Julie Picard, regional vice […] [Read More]

With the intention of broadening its client roster beyond the 16 already in its portfolio, Auction Management Solutions (AMS) announced on Monday that Jamye Carpenter has joined its team as vice president of business development.  AMS highlighted that Carpenter has more than 18 years of experience in the auto auction industry, with positions ranging from […] [Read More]

Manheim recently announced that it has named Peter Grupposo vice president of dealer sales and selected Holly Capps to fill Grupposo’s former role as vice president of inventory solutions commercial and wholesale sales. Both Grupposo and Capps will report to Manheim senior vice president of sales Tim McKinley and assume their new roles on June 1. Grupposo most […] [Read More]

Manheim Pennsylvania will host over 100 auctioneers who are set to face-off in the 2017 World Automobile Auctioneers Championship (WAAC), which will showcase auctioneers competing for $12,500 in prize money as well as the title of the best auctioneer, best ringperson and best two-person team. “It’s our privilege to sponsor this year’s event and celebrate […] [Read More]

Hourglass Management Corporation (HMC) recently announced that its chief executive officer, Ron Shoemaker, will transition to board chairman. His son, Chad Shoemaker, who joined the company in 2009 and has served as president since 2011, will assume the role of chief executive officer. “It is a great pleasure that we announce the promotion of Chad […] [Read More]