ServNet revealed this week it has made a change to its organizational structure. The auction group announced it is dividing its membership into tactical committees, reported Patty Stanley, ServNet's vice president and owner of two ServNet locations: Carolina Auto Auction and Indiana Auto Auction. And the committees are broken up as follows — each owner […] [Read More]

Late Wednesday, KAR Auction Services reported its fourth-quarter and full-year financial results, performances that included a 27-percent increase in net income. The company arrived at that 2012 net income level thanks to a revenue increase of 4 percent year-over-year. KAR indicated its full-year revenue came in at $1.96 billion, up from the 2011 total of […] [Read More]

Facing increased demand and with a goal of boosting its conservation efforts, one Manheim site has announced the completion of a year-long project to significantly expand its body shop. Revealed this week by Manheim Palm Beach is the culmination of a 12-month project designed to raise its body work capacity to meet increasing demand, and […] [Read More]

Insurance Auto Auctions announced its director of corporate development has been appointed to serve a two-year term as a member representing the interest of salvage yards and auto recyclers on the Bureau of Justice Assistance’s  NMVTIS Advisory Board. IAA highlighted Brian Hildreth is one of 25 representatives from key stakeholder groups, including law enforcement, state […] [Read More]

Safelite Solutions has named its new national account manager of auctions from within the company, tapping a longtime leader in auction operations. Announced this week for the position is the promotion of Eric Ramsdell, who has worked for Safelite for more than a decade. Ramsdell began his career here in the company’s contact centers, then […] [Read More]

Used sales growth, slightly higher auction volume and modestly lower auction prices were among the stories of 2012. Will these trends continue into this year? The National Auto Auction Association looked at these metrics in its fourth-quarter Auction Industry Report. According to report, the end of 2012 saw a pick up in new- and used-vehicle […] [Read More]

According to Black Book’s Ricky Beggs, typical spring wholesale market conditions might have “finally” arrived. Beggs made the statement after assessing the overall price movements for his weekly online video analysis, “Beggs on the Used Car Market. He indicated that car segments continue to show more stability, noting that for the past four weeks the […] [Read More]

The American Auto Auction Group has made two key changes to its executive management team, promoting chief financial officer  Darris McClure to the role of president and appointing Bruce Reese as its new CFO. With McClure’s promotion, which was officially effective Feb. 1, he will “continue to be responsible for guiding the continued execution of […] [Read More]

The McConkey Auction Group named a national accounts director last week, and appointed to the position for the group that includes DAA Northwest, KCI Kansas City and EPI El Paso was Mike Mikkelsen. Having started his career with South Seattle Auto Auction in 1980, Mikkelsen has been with DAA Northwest since its 1992 inception. The […] [Read More]

When Kelley Blue Book assessed January wholesale prices, analysts found an unusual situation. KBB noticed 2011 models being more valuable a year after their introduction than where 2012 units stand 12 months following their roll out. To be exact, analysts determined that 2012 model-year vehicles are actually worth 4 percent less than a used 2011 […] [Read More]