More often than not, the used vehicles flowing into Canada are relatively new, a study from DesRosiers Automotive Consultants has found. In fact, more than two-fifths of the used cars imported to the country last year were model-year 2010, 2011 or 2012 units, DesRosiers indicated. Forty-two percent, to be more specific. This is just one […] [Read More]

KAR Auction Services’ Jim Hallett said he’s not “wishing his life away,” but the chief executive officer told Wednesday’s quarterly conference call participants that he’s looking forward to the conclusion of 2012, a span he called one of the “toughest years we’ve seen in our industry.” After finishing the third quarter that included preparations and […] [Read More]

Manheim’s Tom Webb said Wednesday that October wholesale values ticked either higher or lower depending on if the comparison was based on a seasonal adjustment. Webb indicated last month’s wholesale prices on a mix-, mileage-, and seasonally adjusted basis rose by 1 percent. Without that seasonal adjustment, the Manheim economist said prices fell by more […] [Read More]

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]