KAR Auction Services once again cheered the financial performance of two subsidiaries — Insurance Auto Auctions and Automotive Finance Corp. Chief executive officer Jim Hallett declared both operations had “outstanding” years as they both posted rises in profit and revenue of at least 15 percent. Looking first at Insurance Auto Auctions, its 2011 revenue increased […] [Read More]

Aimed at boosting stores’ marketing efficiency, ADP Dealer Services and its digital marketing group that runs Cobalt announced earlier this week they acquired Autotegrity from Link Ventures and Cogo Labs. Officials explained the deal is meant to be the nucleus of an expanding facility focused on the application of science to optimize the online shopping […] [Read More]

ADESA Canada spotted a somewhat slower, “steady at best” wholesale market in the first couple weeks of February – which isn’t out of the ordinary – and then saw upward movement in last two weeks, continuing a relatively strong start to the year. [Read More]

The bread and butter of Copart’s business remains in the salvage part of the wholesale market, but the company continues to make strides in non-insurance and whole-car sectors as evident by what leadership shared Wednesday. While sharing financial data from the second quarter of its fiscal year, Copart indicated its non-insurance volume in North America […] [Read More]

KAR Auction Services chief executive officer Jim Hallett insisted he "can’t think of anything that’s more critical on my radar” than ADESA’s ongoing integration with OPENLANE. As the company rolled out its latest financial report this week, Hallett shared an update on how OPENLANE is melding into the KAR stable after being acquired last year. [Read More]

During a long discussion about the company’s 2011 financial performance and more, KAR Auction Services chief executive officer Jim Hallett projected specific future wholesale volume numbers after saying 2012 is a “trough year.” Hallett told a conference call filled with investment analysts Tuesday that “the steepest volume declines are behind us.   [Read More]

As the market evolves, Manheim is also making some changes to better meet its customers’ needs. The company confirmed to Auto Remarketing Tuesday that several of its auctions have new general managers. Discussing the changes, Mike McKinney, Manheim regional vice president, West, told Auto Remarketing, “We are extremely fortunate to have such great talent and […] [Read More]

Black Book’s Ricky Beggs admitted the mixed news headlines are giving dealers an unclear outlook as they head to the wholesale lanes to find inventory. Beggs pointed out there were some upbeat expectations on new-vehicle sales levels for February, as even a couple of forecasters bumped up their annual projections slightly after only two months. […] [Read More]

Dealers and buyers searching through the lanes of Bel Air Auto Auction’s Speciality Sale division will soon be looking forward to a new level of “comfort and convenience,” according to officials. BSCAmerica is set to open its new Clayton Station building later this Spring. Just what does this new building entail? [Read More]

The reasons for the various brand discontinuations at Big 3 automakers in recent years differ from nameplate to nameplate, and the used value results from these wind-downs have been a mixed bag as well. In light of this, ALG set out to project the fallout for recently discontinued Saab, which the firm contends may have […] [Read More]