A conference call to discuss Copart's recently released third-quarter results revealed increases in both earnings and vehicle volume. For the three months ended April 30, revenue, gross margin and net income were $347.2 million, $157.6 million, and $74.0 million, respectively. These represent an increase in revenue of $50.1 million, or 16.9 percent; an increase in […] [Read More]

ADESA, a business unit of KAR Auction Services, has named Richard Griskie as chief information officer. The company highlighted on Thursday that Griskie will oversee the operation of information technology systems for ADESA and several subsidiary businesses within the KAR Auction Services group of companies. He also will contribute to the management and direction of the […] [Read More]

The real view of the RVI Used Vehicle Price Index showed an increase in wholesale vehicle prices of 0.6 percent in April when compared to March. When compared to April of last year, the index fell by 5.5 percent. When looking at the nominal view of the Used Vehicle Price Index, the reading ticked up […] [Read More]

While the latest Black Book Market Insights report showed relatively mild depreciation last week among the majority of car and truck segments, a handful of dealers across the country feel prices will hold relatively steady until July. As a dealer in Arizona shared with Black Book the sentiment about prices staying steady until about the […] [Read More]

RoadDealer.com, an online platform that gives dealerships the ability to buy, sell and trade aged and wholesale vehicles between stores, recently named former TrueCar and AutoNation exec Ben Shamsizadeh as executive vice president of dealer services. And after focusing its efforts in the Midwest, RoadDealer.com highlighted the addition of Shamsizadeh is propelling the company to […] [Read More]

As the first step toward plans to provide its Auction Safety Certification and Lane Safety Training programs globally, the National Auto Auction Associations recently took the message of the “Safe T. Sam” program to its counterparts in the United Kingdom. NAAA president Mike Browning, executive president Jay Cadigan and AutoTec president Chuck Redden met with […] [Read More]

ADESA has announced management promotions at two auction locations. Jay Hinchman, former general manager at ADESA Las Vegas, and Geoff Parker, former general manager at ADESA Cincinnati/Dayton, were both recently promoted to regional vice presidents to oversee the company’s new Midwest and Mideast auction regions, respectively. Brenda Aden, former assistant general manager of ADESA Las Vegas, […] [Read More]

Alliance Inspection Management has hired Jeff Gaetz as vice president of auction operations. Gaetz will oversee and manage all of AiM’s vehicle inspection operations at auction sites throughout the United States. He also will manage AiM’s nationwide network of auction inspections and operations as well as supporting customer relationships throughout the U.S. and Canada. Additionally, he […] [Read More]

ServNet has added another auction to its ranks and brought on two additional board members, the auction group announced Monday. Following the spring meeting of ServNet owners, president Kevin Brown said that North Bay Auto Auction had joined the group. “I am very pleased to report that ServNet will be represented in Northern California by […] [Read More]

ADESA chief economist Tom Kontos dipped into his vast vocabulary to arrive at an adjective to describe what the company’s latest data indicated about the wholesale market. Kontos came up with a word that might be in your child’s next spelling bee — bifurcated. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle […] [Read More]