About three weeks after a report surfaced in late August saying that KAR Auction Services reportedly had exploratory talks about a possible leveraged buyout, Reuters had more to say on the matter Wednesday. [Read More]

There has been a new landmark reached at OVE.com. Officials with the website announced last week that OVE.com recently achieved a growth milestone of 150 independent auction partners. In celebration of the milestone, OVE.com will continue its “Strive 4 Five” promotion. This program applies to dealer-to-dealer transactions and gives partners selling via OVE.com financial incentives. […] [Read More]

As new- and used-vehicle sales strengthened, the Manheim Used Vehicle Value Index for August showed that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) declined for the fifth consecutive month. The August reading slipped to 120.7, which is down 2.4 percent from a year ago. However, when looking month-over-month, Manheim chief economist […] [Read More]

August new-vehicle sales of full-size pickup trucks climbed 16 percent, according to Black Book, which said Thursday that this increase was the strongest experienced by this segment since 2009. But it’s not just the new side of the market where pickups have shown strength. Black Book indicates that used pickups — compact, midsize and full-size […] [Read More]

Hyundai Auto Canada Corp. revealed this week it is teaming up with a Canadian hockey star in an effort to help under-resourced Quebec youth get involved in the country’s national pastime. Partnering with Montreal Canadiens defenceman P.K. Subban, the company was set to launchethe Quebec component of Hyundai Hockey Helpers earlier today. The automaker noted […] [Read More]

As dealers wrapped up what seems to be a successful Labor Day weekend for sales, Ricky Beggs, managing editor at Black Book, noted it may be time for some buyers to venture into the lanes to fill their lots back up after holding special holiday deals. [Read More]

Utilizing Manheim’s online auction technology, Jaguar Land Rover North America revealed it experienced its “most successful” Simulcast Everywhere sale yet. Jaguar Land Rover North America — the first luxury automotive manufacturer to use Manheim’s Simulcast Everywhere technology —  shared that on the July 24 sale,  the company sold 100 percent of Land Rover and 88 […] [Read More]

A transferable auto warranty designed to protect dealer inventory was recently announced by ABS Auto Auctions. The company launched its new Buyer Shield Limited Powertrain Warranty in early August, when the company began offering the warranty as standard equipment on most vehicles sold through its auctions. ABS said Buyer Shield offers 90-day, 500-mile limited powertrain […] [Read More]

This year’s National Remarketing Conference presented by SmartAuction kicks off with a quartet of concurrent workshops that delve into several vital elements of the wholesale industry. The strong opening to the 13th annual event that’s one of the highlights of Used Car Week includes these sessions: —Titled, “What’s Under the Hood?”  The session is going […] [Read More]

It’s been a busy week for Manheim operations in the path of Hurricane Isaac, as the company began preparing its auction facilities for the storm as early as Monday. In a message sent to Auto Remarketing late Thursday, Kyle Ohman, Manheim’s market vice president for the Southeast, explained how the company prepared for the storm […] [Read More]