More than six months after Superstorm Sandy hit, KAR Auction Services chief executive officer Jim Hallett said the company is closer to purging its system and balance sheet of thousands of damaged vehicles. During Thursday’s conference call with investment analysts, Hallett reiterated what the company reported in its first-quarter financial statement — the backlog of […] [Read More]

KAR Auction Services reported its first-quarter financial results late on Wednesday, highlighting rises in revenue, adjusted EBITDA and net income as well as the impact of Superstorm Sandy on the performance. The company’s revenue during the span ending March 31 came in at $557.6 million, marking a 10-percent increase compared to the first quarter of […] [Read More]

Some dealers might think Bill Simmons, general manager of Haley Toyota Certified in Richmond, Va., is getting ahead of himself with his used vehicles. The reason: Simmons doesn’t wait until cars arrive at his dealership from the auction to get them online. Most Friday nights, he’s working past 11 p.m. to cull photos and create […] [Read More]

Interestingly, though many dealers have voiced concern over the lack of off-rental supply flowing through the lanes during the past few years, Black Book’s Ricky Beggs explained that buyers are showing “hesitant interest” when it comes to rental cars at auction. Though overall, comments from Black Book survey personnel indicated a “more stable market in […] [Read More]

Just after Auto Remarketing recognized the contributions of women within the auto industry in its April 15–30 issue, a female auctioneer is being hailed as unique in the wholesale side of the business. Becky Tarlton, whose story was recently published in the Salisbury Post, is licensed as an auctioneer in North and South Carolina and […] [Read More]

Flint Auto Auction recently launched a newly designed website, a platform geared to bring information about the auction and its various departments, sale dates and vehicle inventory together in an easy-to-use, intuitive interface. Management from the ServNet operation highlighted the front page of Flint’s new website provides a snapshot of the auction’s Wednesday sale, with […] [Read More]

ServNet executive staff and owners of its 31 independent auctions turned their attention to industry analytics, at the semi-annual business meeting and Meet the Owners luncheon, held April 16-17 in Dallas. The group also announced a new auction addition, coming later this spring. ServNet chief executive officer Pierre Pons reported that Day 1 meeting attendees […] [Read More]

Vehicle transportation company MetroGistics recently named a new director of account management, hiring an executive with experience in getting a domestic automaker’s new models distributed regionally. Taking on the role is Martha Garcia-Perry, who will be responsible for ensuring that MetroGistics’ customers consistently experience a high level of service, and for delivering on the company’s […] [Read More]

Dealers have a whole new option for purchasing cars at auction — bid by night. Insurance Auto Auctions Inc. this week announced the launch of its first-ever nighttime auto auction series, called Stars of Atlanta. The weekly auctions will be held at IAA’s Atlanta East branch in Winder, Ga. IAA described the Stars of Atlanta […] [Read More]

Manheim announced today it is expanding its footprint in Canada. In an effort to reinforce its commitment to the Canadian marketplace, Manheim Canada has signed a partnership agreement with Source Auto Auction — a new auction facility in Edmonton, Alberta, owned by Danny Fayad. [Read More]