Insurance Auto Auctions rolled out its newest tool on Tuesday — IAA Loss Advisor — which the business unit of KAR Auction Services highlighted as a solution that can help insurance claims staff. The company explained IAA Loss Advisor can quickly generate an early total loss recommendation based on information insurance personnel provide regarding the […] [Read More]

Price declines were seen across a variety of segments last week, but what’s notable is that car prices as a whole fell slightly less than truck prices — a deviation from recent trends. Volume weighted, overall car segment prices from model years 2008-2014 decreased by 0.46 percent last week, which was better than the depreciation […] [Read More]

Along with appointing a new chief executive officer, ACV Auctions this week announced that it has raised $5 million in venture funding, led by Tribeca Venture Partners, with participation from SoftBank Capital NY, Armory Square Ventures and Rand Capital. In addition, the company appointed Synacor founder George Chamoun as CEO. In conjunction with the financing, […] [Read More]

National independent third-party inspection company Alliance Inspection Management (AiM) has hired Mike Francis as the national sales director of used cars and rental cars. The company highlighted on Monday that Francis will lead and oversee AiM’s sales growth and retention in its major used and rental car vehicle inspection markets, focusing on developing and fostering […] [Read More]

Through eight months of the year, there have been 3.12 million auction sales of cars up to 8 years in age, according to NADA Used Car Guide, which said this represents a 7-percent increase over the same period of 2015. The increase in late-model auction sales (cars up to 3 years old) has been sharper: There […] [Read More]

Wholesale prices of used vehicles up to eight years old fell by 2.6 percent in August, and for the first time in several months, depreciation in luxury segments outpaced that of mainstream ones, according to NADA Used Car Guide’s latest Guidelines report. August’s results, while in line with expectations for the month, represented the largest […] [Read More]

Auction Broadcasting Co. has been actively involved in flood relief for its employees at ABC Baton Rouge. ABC Baton Rouge’s facility was not damaged by the flooding, but the company said 13 of the employees who reside in the Louisiana capital lost everything. “You just cannot imagine how devastating the damage is until you see it with your […] [Read More]

Auction Management Solutions (AMS) finalized partnerships with two more independent operations for business development consulting on Wednesday. AMS, which was started in early July by industry veterans Tom Stewart and Richard Curtis, now has relationships with Rochester Syracuse Auto Auction in Waterloo, N.Y., and Greater Quad City Auto Auction in Milan, Ill. Adding these two […] [Read More]

Sporty cars saw the highest depreciation among cars last week at 1.45 percent, according to Black Book’s latest Market Insights report. All other car segments tracked by Black Book stayed under the 1 percent mark last week. “The sporty car segment declined the most, following typical seasonal patterns as summer draws to a close,” said […] [Read More]

Copart has launched its first location and online auction in Germany, the company announced Monday. The car storage and auction location is in Bad Fallingbostel, near Hanover. “This is an incredible milestone for Copart. We are now offering the full Copart model to the German market, the 10th country in which our model has been […] [Read More]