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]

Hurricanes Harvey and Irma took a chunk out of auction volumes for late-model vehicles. According to the latest Guidelines report from J.D. Power Valuation Services, late-model auction volume was down 18.1 percent month-over-month in September. It dropped 9.3 percent year-over-year. More specifically, auction volume for this age group (vehicles 3 years old or less) was […] [Read More]

Following the company purchasing the remaining interest in TradeRev, KAR Auction Services ironed out a few leadership updates on Wednesday. Becca Polak, who had been KAR’s executive vice president, general counsel and corporate secretary the past decade, is now the president of TradeRev. She also earned a promotion to the role of chief legal officer […] [Read More]

With a stronger than normal performance pushing September price readings, the analyst team at J.D. Power Valuation Services is projecting that October’s wholesale movements will be less than half of what was recorded during the same month a year ago. According to their latest issue of Guidelines, analysts expect that wholesale prices of vehicles up […] [Read More]

The first thing you might have noticed at Manheim Atlanta earlier this year was a countdown and buttons worn by employees that notified sale attendees that “a change is coming.” That change they were specifically referring to was Manheim’s investment in a widespread technology update and redesign of some of its auction processes, a change […] [Read More]