Earlier this week, KAR Auction Services chief executive officer Jim Hallett projected how much longer Canada’s wholesale market will remain sluggish. After sharing his upbeat assessment of the U.S. future, Hallett said during the company’s quarterly conference call with investment analysts that, “in Canada, it’s a little bit of different story. “The Canadian market is […] [Read More]

Without the support of our loyal sponsors and exhibitors, the Used Car Week conferences would not be possible, so Auto Remarketing Conferences would like to take a moment to express gratitude to all of the industry-leading companies that have supported this year’s events. Key to our success are our lead sponsors — SmartAuction, lead sponsor […] [Read More]

Fueled by revenue jumps within all three of its major divisions, KAR Auction Services said late Tuesday that its third-quarter revenue moved 6 percent higher year-over-year, creating a 1-percent rise in adjusted EBITDA. The company determined its third-quarter revenue came in at $474.9 million, up from $449.1 million in the year-ago period.  As a result, […] [Read More]

With online auctions becoming more popular and alternative channels like dealer-to-dealer sales  gaining ground,   wholesale buyers and sellers now have many choices for conducting   business. With that in mind, many in the industry may be left wondering what the future holds for the wholesale market; what will be the roles for these new wholesale options […] [Read More]

Brasher’s Sacramento Auto Auction is seeing sales “typical” to this time of year, says auction president John Brasher, with some trucks and SUVs soft in the lanes. During last week’s Post Sale Report video, the executive also explained “the rental market was good but not great. But again, that is typical for this time of […] [Read More]

Black Book’s Ricky Beggs said Superstorm Sandy will have an even bigger industry impact than Hurricane Katrina did seven years ago. Beggs on Monday indicated the number of flooded vehicles left by Sandy is expected to greatly exceed the 640,000 units destroyed during Katrina in 2005. Beggs and the team at Black Book have been […] [Read More]

Copart continued to expand its international interests on Monday, acquiring a salvage operation in Brazil. Copart announced the acquisition of Central de Leiloes LTDA, located in Sao Paulo, Brazil. Officials highlighted Central is a leading salvage vehicle auction company currently providing services to many of the leading automobile insurance companies in Brazil. Central serves the […] [Read More]

Plaza Auto Auction of Iowa recently revealed it has plans to install a new auction management system, which the company contends will pave the way for a partnership with OnLine Ringman to offer simulcast selling. Mark Greb, owner of the auction, reports the the facility will use VERO Auction Software and expects the system to […] [Read More]

Enterprise Holdings recognized its 2012 Auction Achievement Award winners on Thursday, spotlighting 11 auctions across the U.S. for their excellence in of strategic planning, communication, operational success, customer service, marketing and reconditioning. “Our auction partners play a vital role in our remarketing strategies,” said Andrew Taylor, chairman and chief executive officer at Enterprise Holdings. “We […] [Read More]

In light of Hurricane Sandy, it was announced that the memorial service for Matt Marks — the late executive director of the International Automotive Remarketers Alliance — will now take place on Wednesday. Services are scheduled for 11 a.m. Wednesday at the Goble Funeral Home in Sparta, N.J. The funeral home is at 22 Main […] [Read More]