CarMax president and chief executive officer Tom Folliard likes how the company is positioned to take advantage of the swelling projection of off-lease vehicles expected to fill the auction lanes next year and beyond. During the company’s most recent conference call, Folliard was asked to compare how CarMax will leverage this chance as compared to […] [Read More]

In addition to the negative impact on new VW sales, which will run into the billions, one can only imagine the damage that this cover-up will have on residual values. The world can scrap last month’s ALG lease residual guidebook. At lease termination, the current lease portfolio will experience significant losses. While, predicated on supply […] [Read More]

A few handfuls of auctions were honored Wednesday at the NAAA Convention, as NextGear Capital, Enterprise Holdings and Chase Auto Finance revealed annual award winners. Plus, several more awards were announced at the NAAA's Opening Luncheon. Winning NextGear’s third annual Auction Partner Awards, which recognize independent auctions, were: Operational Excellence Award: Acadia Auto Auction in Richmond, Maine […] [Read More]

Despite a $5.2 million dip in revenue during the fourth quarter of its 2015 fiscal year, Copart still managed to post increases in both gross margin and net income to close out a year with its fully diluted earnings per share nearly 23 percent higher. For the quarter that ended July 31, Copart reported this […] [Read More]

The National Auto Auction Association inducts its new president at the NAAA Annual Convention this week. Mike Browning, the general manager of Manheim San Antonio, has spent a year in the president-elect role for NAAA and is well prepared for his tenure as president. Auto Remarketing reached out to Browning in August to gain insight […] [Read More]

It’s only Day 1 of the NAAA Convention and there have already been big stories coming out of the auction world as the convention hotel stirs with more activity. The latest are two industry awards that the association shared Tuesday. NAAA announced its Marie Hingst Exhibitor of the Year for 2015, awarding the honors to Ron […] [Read More]

ADESA subsidiary AutoVIN chose what it dubbed to be a seasoned and experienced leadership team on Tuesday for the company’s expanded operations in Canada and the U.S. Officials highlighted the AutoVIN leadership team now is led by Richard Carpentier, chief operating officer and senior vice president of operations across North America. A familiar name in […] [Read More]

Bel Air Auto Auction has broken grown on its new facility in nearby Riverside, Md. The auction held a groundbreaking ceremony on Sept. 16, parent company BSC America announced. The new Bel Air Auto Auction facilities will tout a 75,000 square foot, 10-lane auction facility, as well as a 35,000-square-foot mechanical and body shop. BSC […] [Read More]

After holding strong values through most of the year, trucks posted the largest price decline at auction since 2014 this past week, showing signs of approaching fall. The latest Black Book Market Insights report shared truck prices dropped 0.46 percent or $73 last week, “indicating that the fall price declines might finally be in full […] [Read More]

XLerate Group, formerly known as American Auto Auction Group, announced the addition of two experienced and respected individuals in the remarketing industry to its corporate sales team.  On Tuesday, the company promoted Kelly McAllister as director of business development, joining XLerate’s newest hire Julie Heichel, who will be director of sales operations Both McAllister and […] [Read More]