KAR Auction Services chief executive officer Jim Hallett has another award to add to his mantle. Hallett was recognized as one of six Northwood University Outstanding Business Leaders at the 35th annual Outstanding Business Leader (OBL) Awards Gala on Saturday. Officials highlighted Hallett was recognized for his longstanding track record of professional success and leadership […] [Read More]

The first week of February came with more positive price adjustments at auction after prices fell a bit more than usual during the last week of January. Overall, car prices at auction dropped a mere $32 (or .22 percent) this past week, which represents the strongest price retention seen in over a month. That’s according to […] [Read More]

Kentucky’s men’s basketball team just won the most recent of its eight NCAA national championships the last time used-vehicle values rose to the level Manheim determined as the January reading. Manheim reported that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased in January for the fourth consecutive month. This movement pushed […] [Read More]

Ever wonder how an auction views the CFPB guidelines for its consigning partners? It’s simple: government regulations need to be followed, and auctions need to comply to insure both its partners and the consumers it represents have adequate protections. However, let’s also not assume that the auctions should be dictated to on how to run their […] [Read More]

The Dealer’s Auto Auction group announced recently that eight of its employees have now completed the International Automotive Remarketers Alliance (IARA) Certified Automotive Remarketer (CAR) Program. According to the company, they now have eight of the 101 total graduates of the program. Mark Hopkins, the national fleet lease manager at DAA, supervised the certification process of the […] [Read More]

The first month of 2015 is in the books, and Black Book editorial director Ricky Beggs shared his reactions to last week’s vehicle price movements in the latest “Beggs on the Used Car Market” video report.  Though pointing out that fuel prices continued to fall — by 2 cents and 7 cents for gas and diesel, respectively […] [Read More]

Insurance Auto Auctions made its third growth move in the past two months; this time expanding its services at a pair of Ohio facilities. To respond to the demands of the winter season, IAA expanded its Buckeye State branches in Columbus and Cleveland. The Cleveland branch, located on 7437 Deer Trail Lane in Lorain, Ohio, has […] [Read More]

Perhaps spending more than 30 minutes talking about how potential losses in new-vehicle lease business were going to hurt the company’s performance provided the kindling that was lit when an investment analyst asked Ally Financial chief executive officer Michael Carpenter if he would sell off SmartAuction to General Motors or another potential buyer of the […] [Read More]

KAR Auction Services announced Wednesday that Rich Levene has been promoted to vice president of enterprise optimization for the company. Formerly the director of the same KAR segment, Levene is responsible for “identifying and implementing opportunities to maximize resources and widen synergies across all of KAR’s business units, as well as leading the enterprise optimization […] [Read More]

There are likely to be hefty volumes of off-lease cars pouring into wholesale markets this year, and a new program announced Tuesday by ADESA is designed to foster greater confidence among dealers when they buy these cars online. ADESA Assurance is a buyer protection program that gives buying dealers a no-questions-asked return guarantee on selected […] [Read More]