Copart reported its financial results for its fiscal third quarter ending April 30 on Wednesday, highlighting the impact of how the strengthening U.S. dollar and lower scrap values affected its year-over-year results. The company experienced a year-over-year decrease in revenue and gross margin along with a substantial increase in net income for the quarter. Third quarter […] [Read More]

Whether we like it or not, those in the automotive industry now live in the age of recalls. It’s a lingering thought in the minds of individuals on every end of the sales spectrum. And while recalls of any nature are anything but simple to manage on the front end, the waters tend to get […] [Read More]

XLerate Group has acquired Greater Kalamazoo Auto Auction.  With its purchase of GKAA, the auction family formerly known as American Auto Auction Group now has seven members. “With the addition of GKAA, XLerate continues the objective of growing our business by acquiring quality independent sales to enhance our auction family offering,” said XLerate chief executive […] [Read More]

KAR Auction Services announced Wednesday that it has promoted Carolyn Bogan to the position of vice president of KAR’s IT Shared Services. Bogan, who joined KAR in September 2013 as the director of support services, is now responsible for the oversight and strategic vision of all workplace services and will serve as the main contact for […] [Read More]

As summer nears, prices in the lanes tend to take a turn downward — a trend most dealers and wholesales are used to, and one that is rearing its head again this year as we approach June. And this rings especially true for the car segments at auction. According to the latest Black Book Market […] [Read More]

GM Financial has named its 2014 Auction of the Year as part of its nationwide Auction of Excellence program, announcing Rawls Auto Auction as the annual winner. This marks the third straight time and sixth overall that Rawls has earned this distinction from GM Financial, having also received the award for 2006, 2009, 2010, 2012 and […] [Read More]

ADESA announced that its subsidiary, AutoVIN, has closed its acquisition of DataScan Field Services, a vehicle inspection business. “The closing of this acquisition allows us to move forward with new and improved services for our customers,” said Stephane St-Hilaire, ADESA’s president and chief executive officer. “Combining the best of what both companies have to offer […] [Read More]

Manheim Louisville announced recently that it will host its “Cruisin’ for Wishes” car show and fundraiser on the rescheduled date of June 13 due to it being rained out on Saturday. The event, which will benefit Make-A-Wish Ohio, Kentucky and Indiana, will feature cars, trucks and bikes in the show to help raise funds for […] [Read More]

For dealers working with budget-conscious shoppers, car technology company Carlypso — which runs the used sales website carlypso.com — has a few suggestions for the best pre-owned deals this spring. But the company didn’t look to the used dealership lots to find the best offers; analysts turned to the lanes instead. Citing the wholesale markets […] [Read More]

Once again, auction prices for cars were on the way down last week. But pickup truck prices began picking up even more. The latest Black Book Market Insights report said that all car segments Black Book tracks saw prices drop in the lanes last week, while each of the three pickup segments in the data set saw a […] [Read More]