In a recent update from ServNet president Charles Nichols, the executive said that even though the U.S. economy remains unstable, the auction group continues to see “progress” in the market and is looking toward the future with high hopes. Nichols commented on the market environment at ServNet auctions around the country, noting it “continues to […] [Read More]

When life gives you lemons, make lemonade, as the old adage goes. For some 1,800 employees of Insurance Auto Auctions Inc., lemonade is part of their fight against childhood cancer. IAA announced this week that it has raised $142,084 for Alex’s Lemonade Stand Foundation, to help raise awareness and funds in the battle against childhood […] [Read More]

Two people familiar with the matter told Reuters Wednesday that KAR Auction Services has held exploratory talks with private equity firms about a potential leveraged buyout. The sources indicated the deal could exceed $4 billion. [Read More]

When crunching its August numbers, CNW Research calculated that the days’ supply of used vehicles is up more than 15 percent versus a year ago, a level approaching 55 days and the highest so far this year. What does the figure mean for used-car managers trying to plan for the remainder of 2012? CNW president […] [Read More]

Liquid Motors has named a new chief operating officer, appointing a former leader with OPENLANE and Manheim to the role. Chosen for the COO post and joining the management team is Greg Lubrani, who will work with the company’s executive team to expand Liquid Motors’ customer base in the wholesale arena, the company said. “Greg’s […] [Read More]

RouteOne announced today the availability of nearly a half dozen additional enhancements to its free mobile apps. Officials highlighted the iPhone app now includes the ability to forward “sent” applications to new finance sources, securely text message with supporting finance sources, get payoff quotes and capture leads into the Lead Manager within RouteOne.  The company […] [Read More]

Black Book collected dealer reaction from throughout the country as gas prices continued to climb, and it appears these rising costs are weighing on the minds of many in the business. Managing editor Ricky Beggs indicated that the average price at the pump now stands at $3.72 after a seven-cent rise last week. Beggs pointed […] [Read More]

In a recent promotion that lent a hand to a cause helping seriously ill children and their families, Charleston Auto Auction and its dealers  generated more than $5,000 for the Ronald McDonald House of Charleston, S.C. As part of the promotion — which was titled “Wear A Shirt, Provide a Place to Stay” — representatives […] [Read More]

ADESA has announced a new vice president of sales, bringing in one of its auctions’ general managers for the role. Tapped for the position was John Combs, who previously was the GM at ADESA San Diego. The move was effective immediately. In similar news announced today, Donlen named its new senior vice president of sales […] [Read More]

Along with a list of suggested models that cost-conscious used-car managers could leverage to boost fuel-efficient inventory and still stretch floor plan dollars, Kelley Blue Book said that dealers planning to buy vehicles at auction should pay particular attention to midsize cars and compact crossovers. Why? Analysts reported in the August Blue Book Market Report […] [Read More]