As June wrapped up in the lanes, talk of gas prices pervaded the auctions last week. According to Black Book’s Ricky Beggs, gas prices continued to be the topic of conversation last week as the $3.70 per gallon average was 13 cents higher than year-ago-levels. The Black Book senior vice president and editorial director highlighted […] [Read More]

ServNet president Patty Stanley acknowledged there are alternatives for remarketing vehicles such as wholesalers, dealer-to-dealer transactions and direct selling to consumers. But Stanley recently reinforced what auto auctions offer, highlighting six specific benefits. The owner of Carolina Auto Auction and Indiana Auto Auction covered a wide array of attributes and services when compiling her list, […] [Read More]

Used car price drops are expected to drop by over 1 percent at auction during this first week of summer. NADA Used Car Guide’s AuctionNet data indicates used-car prices will drop by 1.1 percent or $175 this week. Overall losses will be “moderate” said David Paris, automotive analyst at NADA UCG, but a few segments […] [Read More]

ServNet auctions across the country are celebrating decades of business with anniversary sales and events. First up, Pittsburgh Auto Auction celebrated its 36th anniversary on May 5-6, welcoming more than 900 bidders to the lanes and posting the sale of more than 1,000 vehicles. Chris Angelicchio, PAA general manager, reported that following the Monday sale, […] [Read More]

Manheim Riverside in Riverside, Calif., hosted 62 members of the Pacific Southwest Chapter of the NAFA Fleet Management Association on June 10, the first time the location hosted this local chapter. A record number of members attended, most experiencing their first visit to a wholesale car auction. They were divided into four tour groups, led […] [Read More]

KAR Auction Services chief executive officer Jim Hallett has won the EY Entrepreneur Of The Year 2014 Award in the consumer category for the Midwest and is now eligible to compete for national honors. An independent panel of judges selected Hallett as the winner of this award, which honors entrepreneurs for demonstrating excellence and extraordinary […] [Read More]

Nissan Motor Acceptance Corp. named its 2013 Auction of the Year on Tuesday, presenting the honor to Manheim New Jersey. This award is given to the top-performing auction in terms of superior operations, sales performance, effective marketing and value retention. NMAC said Manheim New Jersey, “delivered a solid sales performance based on percent sold and […] [Read More]

Philanthropic activities continued by ServNet auctions recently with a pair of inaugural events orchestrated by two member facilities — KCI Kansas City and Dealers Auto Auction of the Rockies. Back on May 8, KCI Kansas City held the first KCI Cares charity auction of the year with the proceeds benefiting Sheffield Place. Since Sheffield Place […] [Read More]

As part of its ongoing commitment to introduce products and services that drive business growth for customers, Manheim tapped on Tuesday two former NextGear Capital executives to be new vice presidents of national accounts. Now reporting to Manheim vice president of commercial sales Rich Coutu are Peter Grupposo and Janet Hendrixson. “We’re excited to have […] [Read More]

Sister companies ADESA, AFC and Insurance Auto Auctions are partnering to benefit the NIADA Foundation for Scholarships and Education. The three companies have donated a BMW 328XI, which will be auctioned off on the last day of this week's 68th annual NIADA Convention and Expo at Caesars Palace in Las Vegas. The car will be […] [Read More]