KAR Auction Services boosted its revenue by 12 percent year-over-year in the third quarter, as its ADESA, Insurance Auto Auctions and AFC business units all showed gains. Meanwhile, the increase in net income for KAR was even higher, climbing 19 percent to $22.8 million for Q3. Drilling down into specifics, KAR’s quarterly revenue was $533.7 […] [Read More]

High levels of supply. That’s a term not heard in the used-car market in quite a while, but if Chrysler and Dodge minivans are hot items on your lot, you might want to take note.  According to Kelley Blue Book, dealers have been enjoying “high supply” of Chrysler and Dodge minivans at auction. As noted […] [Read More]

Auction values are on the way down — dropping an average of 1.7 percent, or nearly $285, since late September, according to Kelley Blue Book. And it seems some of the truck segments have now boarded the seasonality train as the midsize and large utility segments saw larger-than-normal declines in prices last week. These segments […] [Read More]

As part of a deal announced last week between DAA Northwest and Toyota Financial Services, the auction will host its inaugural TFS sale during its Anniversary Event on Thursday. The sale will feature 100 Open Sale vehicles, with the 2010 and 2011 model-year mix including Toyota Camry, RAV4, Sienna, Prius, Venza and Highlander units. “Toyota […] [Read More]

One auto auction family has personal reasons to support efforts to fight breast cancer: Its patriarch and founder of the family business, which has been in operation for more than 30 years.    Pittsburgh Auto Auction founder Clo Angelicchio is a breast cancer survivor, having been diagnosed with breast cancer in 2008.  Management and staff […] [Read More]

Insurance Auto Auctions revealed Tuesday it is expanding its presence in Virginia and Louisiana — areas the company says are "key U.S. markets." IAA is opening two new facilities in New Orleans and Culpeper, Va., respectively. The new stores mark the company's 32nd location in the South Central region, and the 49th location in the […] [Read More]

As feedback from auctions was relayed to Black Book's Ricky Beggs last week, one of the most frequently cited trends was how trucks — especially four-wheel drive models — are performing better than the overall market. In what Beggs, editorial director and senior vice president of Black Book, called a “further softening market,” the trend […] [Read More]

Off-rental volume will likely climb moderately next year, says Manheim’s Tom Webb, and there will likely be a greater percentage of these units that will be sold in a different fashion than perhaps what has been the traditional route for these vehicles. “There should be a modest increase overall (less than 5 percent), and an […] [Read More]

Dealers Auto Auction of the Southwest said last week that the auction is expanding. In announcing the news, general manager Stephanie Gringas said, “Our owners have just obtained the property adjacent to us, and we are in the process of creating a new recon area where our mechanics, CR writers and repo inventory will be processed, […] [Read More]

ADESA revealed today it has made a few changes within the reporting structure for a few “key” personnel in an effort to better serve its dealer customers. Now, the company’s e-business department, customer relationship management team and inside sales division will report directly to Tim Zierden, senior vice president of dealer sales and services.   […] [Read More]