Auto Remarketing has learned that the owners of ADE Auctions Inc. recently bought an auction property in Ocala, Fla., marking the company’s third facility in the Sunshine State. Today, Michael Tumminello and Jeff Brody announced the acquisition of the facility formerly known as Big Sun Auction; the property has been renamed Ocala Auto Dealers Exchange, […] [Read More]

It was announced Thursday afternoon that KAR Auction Services subsidiary AuctionTrac has rolled out a free mobile application for dealers. Officials noted that AuctionTrac Dealer “was designed specifically with the in-lane auction buyer in mind.” The app is available now for the iPhone and iPad, and the company expects it to be accessible on the […] [Read More]

Ever wondered how some of these long-time family run auction companies got their start? Holding a slew of facilities serving the western states, Brasher’s Auto Auctions took the time recently to tell its customers the “family” story. In a video posted to the company website, vice president Ben Brasher outlines the company’s history, throwing in […] [Read More]

ADESA announced that the company’s 68 North American auction locations will observe National Auto Auction Week, which is scheduled for Aug. 20 through Aug. 24. The company recapped that National Auto Auction Week was established by the National Auto Auction Association to recognize its members and the contributions they make both to the national economy […] [Read More]

KAR Auction Services chief executive officer Jim Hallett spent much of Tuesday’s conference call with investment analysts talking about volume and dealer consignment rather than the company’s latest financial performance. The dialogue stemmed in part from ADESA sustaining a year-over-year drop in vehicle conversion percentage to 55.6 percent, excluding OPENLANE activity. In the second quarter […] [Read More]

Prices continued to fall in the lanes this past month, according to the Manheim Used Vehicle Value Index.  In fact, marking the fourth consecutive monthly decline, wholesale prices slid 1.8 percent in July. This shift brought the Index to a level of 121.2, down 3.7 percent from a year ago, according to the analysis from […] [Read More]

Black Book watched wholesale vehicle price adjustments that merited an increase constitute 19 percent of all changes editors made last week; a level Ricky Beggs indicated was the highest in the past four weeks and the second highest in the past nine weeks. “This past week has presented some amazing insights and situations within the […] [Read More]

As the company kept its performance expectations for the remainder of the year unchanged, KAR Auction Services announced Monday that its second-quarter adjusted EBITDA decreased 3 percent. A 3-percent jump in revenue wasn’t enough to produce a gain as KAR indicated its second-quarter adjusted EBITDA settled at $128.1 million, down from the year-ago level of […] [Read More]

Starting two weeks from today, the National Auto Auction Association will begin celebrations for its annual National Auto Auction Week. It will be held Aug. 20 through Aug. 24 and is designed to spotlight seven decades of entrepreneurship within auto auction business, as well as the industry’s economic impact and community service Offering a bit […] [Read More]

The centralized inventory system currently being implemented at Sonic Automotive is what executive vice president of operations Jeff Dyke says is going to “change our whole company.” Thus far, about 40 of its 119 dealerships are now using the Sonic Inventory Management System (SIMS), a new tool the company has spent more than three years […] [Read More]