A former leader of Volvo’s certified pre-owned program now has a remarketing post with Hyundai Capital America. Auto Remarketing learned this week that Johnny Lee is now the manager of remarketing planning with the Irvine, Calif.-based company. Lee was with Volvo Finance from 1997 to 2002, then Volvo Cars from 2002 to 2009. His time […] [Read More]

North Toronto Auction and Ontario-based Apex Inspection Solutions have announced a strategic partnership where Apex will be the auction’s third-party inspection provider. As such, the company will provide NTA clients with enhanced vehicle inspection services. The partnership can lead to growth opportunities for NTA and Apex, officials said, "while informing and empowering the customer experience […] [Read More]

Manheim revealed earlier this week it has named a new general sales manager for operations in Canada. Tapped for the role is Ryan Stubbs, who in his new position will lead Manheim Canada’s field sales teams and strategies, partner with location staff to enhance customer service and develop stronger relationships with local dealers, officials noted. […] [Read More]

The Dealer’s Auto Auction family of auctions recently hosted its first-ever Government Services Administration sales earlier this month, and has two on tap for September. The company’s Murfreesboro, Tenn., facility held a GSA sale on Aug. 15, and the Mobile, Ala., facility then held the second GSA sale on Thursday. Both sales were open to […] [Read More]

Less than a day after the definitive merger agreement was announced between Hertz Global Holdings and Dollar Thrifty Automotive Group, it had not been decided how vehicle remarketing would be handled with the two companies under one corporate umbrella. [Read More]

As pump prices moved higher again last week, Black Book’s Ricky Beggs remains confident the wholesale market isn’t about to hit a vehicle-price patch similar to what happened in 2008 when gas soared above $4 per gallon on average. Still, Beggs acknowledged gas prices continue to climb, as this past week they crept up another […] [Read More]

In today’s auction world, where bidders can be physically present in the lanes or bid live via Internet, ServNet Auctions is pausing to remember the origins of simulcast technology, and its impact on the industry. ServNet chairman Jeff Brasher says not all dealers welcomed online sales at first. “Pioneering simulcast technology involved tremendous vision, and […] [Read More]

In a recent update from ServNet president Charles Nichols, the executive said that even though the U.S. economy remains unstable, the auction group continues to see “progress” in the market and is looking toward the future with high hopes. Nichols commented on the market environment at ServNet auctions around the country, noting it “continues to […] [Read More]

When life gives you lemons, make lemonade, as the old adage goes. For some 1,800 employees of Insurance Auto Auctions Inc., lemonade is part of their fight against childhood cancer. IAA announced this week that it has raised $142,084 for Alex’s Lemonade Stand Foundation, to help raise awareness and funds in the battle against childhood […] [Read More]

Two people familiar with the matter told Reuters Wednesday that KAR Auction Services has held exploratory talks with private equity firms about a potential leveraged buyout. The sources indicated the deal could exceed $4 billion. [Read More]