A week after venturing into South America for the first time, Copart extended its global growth pattern on Monday by acquiring an operation in Germany. Officials said Copart acquired WOM Wreck Online Marketing Aktiengesellschaft located in Ettlingen, Germany, a leading European salvage vehicle auction platform primarily serving the insurance markets in Germany. Copart indicated the […] [Read More]

DAA Northwest is reaching its 20th anniversary this week, and the ServNet auction is planning a two-day celebration. The auction will host its annual anniversary sale promotion on Wednesday and Thursday. Fleet/lease and select dealer consignment will be offered in the lanes on Wednesday afternoon, followed by a gala dinner party and fundraiser for DAA’s […] [Read More]

According to ADESA Analytical Services’ monthly look at wholesale prices by vehicle model class, prices in October averaged $9,742. The figure represented a 2.0-percent uptick compared to September, but a modest 1.4-percent softening relative to last October. ADESA found prices for trucks were up more than those for crossovers and cars “as they have already […] [Read More]

Dealers in the Northeast have enough to worry about in the aftermath of Hurricane Sandy, and Manheim is looking to lighten their load during the next couple months. Manheim is responding by offering flexibility to some policies, such as storage arrangements, “to help dealers during this challenging time.” [Read More]

Insurance Auto Auctions Inc. revealed this week that its California vehicle providers now have access to a new title processing capability. Through a partnership with DealerTrack, an authorized DMV provider, IAA is now able to process out-of-state titles in-house. IAA contends this new offering will reduce insurance providers’ cycle times and overhead costs, while offering […] [Read More]

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]