Copart has launched its first location and online auction in Germany, the company announced Monday. The car storage and auction location is in Bad Fallingbostel, near Hanover. “This is an incredible milestone for Copart. We are now offering the full Copart model to the German market, the 10th country in which our model has been […] [Read More]

New research from Carfax indicates a sizable number of previously flooded vehicles are on the road or up for sale in the U.S. More than 271,000 cars reported as flood damaged by a state’s department of motor vehicles, insurance companies or other entities are back in use. That’s a nearly 30-percent increase from 2013, Carfax said. […] [Read More]

EFG Companies and the National Association of Minority Automobile Dealers (NAMAD) announced that Northwood University students Norma Benavides and Isabelle Daoud have received the annual NAMAD Private Donor Scholarship. EFG Companies, NAMAD and Northwood created the scholarship in 2015 to better enable bright, young minds to lead the automotive industry as it continues to evolve […] [Read More]

Thanks to the approval of an additional $10,000 by the National Auto Auction Association’s executive committee, the 2016 NAAA Auto Auction of the Year winner will receive a total of $25,000. The four chapter auction winners receive $5,000 each for the regional win, and the final auto auction champion for 2016 will be announced and […] [Read More]

CarMax celebrated the grand opening of its first used-car store in Idaho.  The store, located at 4043 E. Elden Gray St. in Meridian, will stock more than 200 used vehicles of nearly every make and model. “The Meridian community has been very welcoming to CarMax,” said Louis Cominiello, location general manager. “We are very excited […] [Read More]

Edie Hirtenstein has been named director of business development for instaVIN, a business unit of KAR Auction Services. She will report to instaVIN chief executive officer and president Jim Irish. Hirtenstein will be responsible for managing customer relationships and identifying and implementing innovative products and services. Her key areas of focus will be to develop […] [Read More]

If you’re a dealer looking to move your CPO inventory, take note: Autotrader has come out with its top picks for certified pre-owned deals in September.  “Certified pre-owned vehicles used to be kind of a secret, something only your uncle Ned and car guy neighbor knew about. Today, many people are catching on that it's […] [Read More]

Autotrader senior analyst Michelle Krebs scanned several recent headlines, which included a Volkswagen engineer pleading guilty for his role in a conspiracy to cheat U.S. emissions tests as well as Wells Fargo agreeing to a record fine from the Consumer Financial Protection Bureau. Krebs then arrived at a succinct conclusion. “The feds are cracking down […] [Read More]

Along with explaining why last month’s new-vehicle sales performance might have been good for the used market, Cox Automotive chief economist Tom Webb pointed out the Manheim Used Vehicle Value Index for August rose more than 2 percent year-over-year. Manheim reported that wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined […] [Read More]

Cars.com chief executive officer and president Alex Vetter called it an “exciting week” as the company announced it would be spun off as a separate, publicly traded entity through a process expected to be finalized during the first half of next year. For dealers who list their inventory on Cars.com, perhaps they should be excited, […] [Read More]