Retail demand weakened in October while wholesale prices continued to soften. In his latest Kontos Kommentary report, KAR Auction Services chief economist Tom Kontos asserted that weak retail demand may have been a reflection of uncertainty before the election. For the first time this year, new vehicle sales on a year-to-date basis fell below last year’s […] [Read More]

The National Auto Auction Association has announced the winners of its Pioneer Award and Bernie Hart Memorial Auctioneer of the Year Award. The awards were revealed at the Auction Insurance Agency Luncheon on Wednesday at the NAAA Convention/National Remarketing Conference during Used Car Week. The 2016 recipient of the Bernie Hart Memorial Auctioneer of the […] [Read More]

Integrated Auction Solutions has announced a pilot of what it’s touting as the newest, most advanced marketplace in the wholesale industry. Beyond the functionality of a standard marketplace (bid, proxy, wish list, watch list, sort and find inventory), IAS has added features it says will command the attention of online buyers. The IAS Marketplace will […] [Read More]

This year marked the 50th anniversary of the merger announcement between the American Football League and the National Football League, creating the foundation for today’s NFL.  And, of course, the Super Bowl. At Used Car Week, we have a little merger of our own.  The National Remarketing Conference and the NAAA Convention are joining forces […] [Read More]

The latest Market Insights report from Black Book shows that while value declines slowed a bit last week, auction no-sales remained high. “Depreciation rate slows from steeper declines seen at the start of the quarter,” said Black Book’s Anil Goyal. “Smaller cars continue to show larger depreciation as opposed to larger crossover/SUVs.” Volume weighted, overall […] [Read More]

KAR Auction Services has acquired Flint Auto Auction, which will now operate as ADESA Flint. “Fortifying KAR’s presence in the epicenter of the U.S. automotive industry has been a long-term strategic priority,” KAR chief executive officer Jim Hallett said in a news release. “ADESA Flint enhances KAR’s end-to-end remarketing platform in Detroit and positions us […] [Read More]

You will see a “more holistic, enterprise approach” in a few areas at KAR Auction Services. The company announced Monday morning that it has created new enterprise functions and leadership roles in product development, data analytics and strategy to help drive innovation in the auction business. “Our industry is rapidly evolving, with emerging new markets […] [Read More]

ServNet added another facility to its roster of independent auction locations. The group’s president Kevin Brown on Friday introduced the group’s newest member:  Houston Auto Auction. Founded in 1964 by James Bowers, the auction continues under the second-generation ownership and operation led by brothers Tim Bowers, James “Chip” Bowers II and Mark Bowers. During the five […] [Read More]

On Thursday, ADESA announced the promotion of Kevin Rhoads to general manager of ADESA Kansas City. “Kevin has been a vital part of the growth at ADESA Kansas City in recent years, bringing a positive focus to building lasting customer relationships,” said Paul Lips, chief operating officer at ADESA. “Our consignors, dealers and staff will benefit […] [Read More]

On Friday, Cox Automotive announced that new tools offered by the OVE platform contributed to independent auction partners' double-digit growth in digital remarketing transactions over last year’s performance. “The tangible items are not the most important part of these improvements, but rather the OVE team’s efforts to seek out and address our biggest needs,” said Brandon Bailey, director […] [Read More]