Recent growth has led to a move for Auctions in Motion, which has announced the relocation of its Thursday auction to a larger facility at 889 Mitchell Road in Thousand Oaks, Calif. The move addresses the company’s need for additional space to accommodate growth in demand in the Southern California Region, an AIM spokesperson said, […] [Read More]

After taking dozens of questions about the first-quarter performance of each of the company’s major subsidiaries — ADESA, Insurance Auto Auctions and Automotive Finance Corp. — KAR Auction Services chief executive officer Jim Hallett exhaled and left investors with one more upbeat comment. “From our standpoint, we’re very pleased with the first quarter; very pleased, […] [Read More]

Along with his monthly look at the specialty markets, Black Book’s Ricky Beggs shared how recent changes in gas prices didn’t create wholesale price movements dealers might have anticipated. The Black Book managing editor began his weekly online commentary, “Beggs on the Used Car Market,” by asking dealers a question. Beggs wondered, “With gas prices […] [Read More]

On Tuesday, ADESA revealed who will be the general manager at ADESA Tampa and ADESA Birmingham. Moving over from his role as fleet lease manager at ADESA Sarasota, Curtis Farris will now oversee operations at ADESA Tampa as the auction’s general manager. Additionally, the company announced John Rea has returned and will now serve as […] [Read More]

KAR Auction Services kicked off the year by notching nearly a 5-percent uptick in revenue during the first quarter and increasing its adjusted EBITDA by approximately 6 percent, the company said late Monday afternoon. KAR pulled in adjusted EBITDA of $134.9 million in the first quarter that ended March 31, compared to $127.3 million in […] [Read More]

As the Manheim Used Vehicle Value Index edged slightly lower in April, economist Tom Webb cautioned wholesale observers and dealers to watch that some individual segment movements are “misleading.” Supporting Webb’s point was the 0.8-percent softening of compact car prices last month. Meanwhile, Manheim discovered pickup prices rose 3.2 percent. “Unusual year-ago environment makes some […] [Read More]

Manheim’s flagship facility recently held a community program designed to foster road safety among teenagers by offering defensive driving courses targeted toward 15- to 19-year-olds. Manheim Pennsylvania Auto Auction hosted the Lion’s Club Be Responsible And Keep Everyone Safe defensive driving courses, where teens were taught techniques to maintain control of their vehicles in hazardous […] [Read More]

Auto Remarketing Conferences recently announced that the Used Car Week Conferences — the National Remarketing Conference, the CPO Forum and the newly expanded Re3 Conference — will be held Nov. 12-16 at The Phoenician resort. Used Car Week is a weeklong series of three dynamic conferences for the used-vehicle industry, all in one location during […] [Read More]

Auto Remarketing has learned that American Auto Auction Group has made two management changes in light of recent brick-and-mortar facility additions and expanded mobile auction locations. AAAG said that Ryan Rickey has new responsibilities with the company serving as vice president of business development, sales and marketing for AAAG’s National Auction Partners division. It was […] [Read More]

Ally Financial SmartAuction handed out its SmartLane Auction of the Year Award earlier this week. Receiving the honor was Greensboro Auto Auction, based in Greensboro, N.C. SmartAuction highlighted that Greensboro AA was the No. 1 seller of vehicles in the company’s premier open auction lanes last year. The achievement marks the second consecutive year Greensboro […] [Read More]