Insurance Auto Auctions announced its  expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon in order to meet and anticipate increasing customer demand. Its facilities which now occupy 173 locations in the U.S. and Canada. The salvage vehicle auction company says its plans for growth within the seven states exhibits its commitment to […] [Read More]

Cox Automotive chief economist Tom Webb explained why February’s wholesale price data reinforced a possible market moniker — stability. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.2 percent in February. However, Webb pointed out that given a sharp decline in pricing in February of last […] [Read More]

Subprime auto finance company Consumer Portfolio Services recently announced its top performing auctions for 2016. The event, attended by the 2016 winners along with CPS remarketing manager Mike Scott and senior vice president of asset recovery Laurie Straten, was held at the CAR Convention last week in Las Vegas. Award winners for 2016 are as […] [Read More]

Manheim Orlando, one of the largest operating facilities of Manheim North America, was recently named Big Business of the Year by the Orlando Chamber of Commerce in recognition of the location’s local economic impact and the team’s dedication to community service. The Orlando Chamber of Commerce presented the Manheim Orlando team with its Big Business […] [Read More]

Automotive industry veteran Richard Howse has joined KAR Auction Services as its new chief commercial officer, the company announced on Wednesday. Most recently, Howse served as senior vice president of marketing and business development at Volkswagen Credit. Howse’s automotive industry leadership background spans over 30 years. “Rich has led growth and change in a variety […] [Read More]

To support its efforts to drive future region growth, Manheim this week announced general manager appointments in three locations: J.D. Guerrero at Manheim El Paso, Heath Sanderson at Manheim Birmingham and Steve Robinson at Manheim Omaha. “With significant leadership experience in our organization, these new general managers will help us deliver an outstanding experience at […] [Read More]

It’s been about two weeks since the Internal Revenue Service started to release refunds, and the impact appears to be making its way to the auction lanes. The latest Black Book Market Insights report indicated small cars and crossovers performing better than luxury vehicles in the car segment. But overall, editors noticed vehicles in the […] [Read More]

Copart announced it recently opened a new location in Alton, Ill., the company’s fifth in Illinois. "The opening of this location in southern Illinois addresses our increasing volume, which has been driven by both organic growth in the industry and market wins," Jay Adair, chief executive officer of Copart, said in a news release. "Furthermore, it […] [Read More]

KAR Auction Services chief economist Tom Kontos looked at January wholesale data and declared that prices “held up surprisingly well.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used vehicle prices in January averaged $10,945 — up 2.8 percent compared to December and up 6.7 percent relative […] [Read More]

Auction technology provider Xcira recently announced that the U.S. Patent and Trademark Office issued the company a new patent that addresses a bidder actively participating in or monitoring multiple simultaneous auction events. The new patent is the company's 12th that is devoted to inventions relating to online bidding, inspection systems, real-time audio and video distribution, and […] [Read More]