Two major players in the Canadian used-car marketplace have announced a new partnership meant to increase transparency in the industry by providing real-time vehicle data for dealers and buyers. Effective Friday, ADESA Canada and CarProof will partner to offer CarProof reports on the majority of dealer, public and local fleet vehicles consigned at auction, on […] [Read More]

About a week after announcing its expanded footprint, Copart revealed its third-quarter financial statement Wednesday, highlighting gains in revenue, operating income and net income. For the quarter that ended April 30 — the third quarter of its 2012 fiscal year — Copart calculated its revenue, operating income and net income came in at $244.1 million, […] [Read More]

Black Book’s Ricky Beggs noticed some rather historic wholesale pricing downturns last week, which likely mean some relief for dealers trying to secure used vehicles in a time of hot sales. Black Book reported Tuesday that wholesale values for car segments, in particular, dropped $35 on average last week, marking the largest drop “since the […] [Read More]

ADESA announced Tuesday the hiring of a former BMW Group Financial Services leader to fill the position of executive sales director. In a move that was effective immediately, Matthew Abshire has been named as executive sales director and will report directly to Jason Ferreri, ADESA senior vice president of commercial sales. Abshire comes to ADESA […] [Read More]

Although the Calgary, Alberta-based company saw steeper net losses in the first quarter, Quorum Information Technologies expanded its dealership customer base during the period, as it installed 259 dealership rooftops in the opening quarter of the year. The company also celebrated its 11th straight quarter of cash flow positive results. [Read More]

Copart already possesses a salvage auction presence in both the U.S. and the U.K., and now the company can say it strengthened its position in Canada as well. The online wholesale operation announced Tuesday that it acquired Diamond Auto Bids and Disposals, a privately held auction company with locations in Calgary and Edmonton, Alberta. The […] [Read More]

With the intention of strengthening its position to deliver the best customer service possible, Dealers Auto Auction of the Rockies recently made several key management promotions and announced a focus on management training designed to provide positive outcomes for its auction customers. Auction owners Brad Sturgeon and Bill Baker announced that Michele Noblitt, long-time general […] [Read More]

Black Book is noticing that slackening retail demand is prompting dealers to become less aggressive in the lanes as bidding activity tapered off last week. To back up the point, managing editor Ricky Beggs pointed out that prices in all car segments and 12 of 14 truck segments softened a week ago. Only prices for […] [Read More]

The International Automotive Remarketers Alliance recently announced the preliminary agenda for the IARA 2012 Summer Roundtable, which will be held August 22-23 at the Chicago Hyatt McCormick Place. Included during the event will be a consignors’ state of the industry panel, local dealer panel, an economic/industry forecast and much more. [Read More]

Auction Academy, an education program developed by TPC Management Company, celebrated welcoming its inaugural class earlier this month. And its first quarterly session, held over the May 3–5 weekend in Nashville, Tenn., “exceeded expectations,” according to the company. Randall McCathren, chief operating officer of Auction Academy, noted, “The first session exceeded our expectations in every […] [Read More]