Insurance Auto Auctions, a subsidiary of KAR Auction Services, announced this week that Arkansas House Bill 1496 has passed, meaning lawmakers have repealed requirements for a buyer identification card for the purchase of salvage vehicles. According to officials, “Under the bill anyone who wants to purchase salvage vehicles may do so. There are no restrictions […] [Read More]

OPENLANE’s U.S. Market Index continued a slight downward slide in February as the reading dipped to 115 — 1 percentage point lower than the previous month and 5 percentage points lower than the all-time high that was reached again in December. February’s mark still represented a jump from the year-ago figure. OPENLANE said its index […] [Read More]

AuctionACCESS announced six new participating locations, including four in Texas. The new additions include Texas Lone Star Auto Auction in Carrollton, Texas; Big Valley Auto Auction in Donna, Texas; America’s Auto Auction of North Houston in Conroe, Texas; El Paso Independent Auto Auction in El Paso, Texas; America’s Auto Auction of Tulsa in Tulsa, Okla.; […] [Read More]

KAR Auction Services announced this week it will participate in two upcoming investor conferences, including the Credit Suisse 13th Annual Global Services Conference and the Barclays 2011 High Yield Bond and Syndicated Loan Conference. At the Credit Suisse event, Eric Loughmiller, chief financial officer and executive vice president, as well as Michael Eliason, vice president […] [Read More]

Before delving into various segments of the specialty units, Black Book managing editor Ricky Beggs described what he called a “slightly delayed spring market.” Black Book found that 55 percent of its adjustments this past week were increases as its analysts made a little more than 2,040 adjustments each day. “Activity was great, and as […] [Read More]

The Manheim Used Vehicle Value Index made its first downward movement in five months while posting the greatest month-over-month decline since last July. Manheim determined that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) dropped 1 percent in February after rising in each of the previous five months. The company said that […] [Read More]

After taking the helm at Manheim in 2000, just after the company’s merger with ADT, Dean Eisner has spent a decade heading up the auction giant. He told Auto Remarketing on Tuesday that though his retirement announcement may have come as a surprise to many in the industry, it is something he’s been looking forward […] [Read More]

In breaking news this morning, Cox Enterprises revealed that Manheim’s Dean Eisner is retiring this summer and that a new president of Manheim has been appointed. Picked to fill that position is Sandy Schwartz, who has been with Cox for more than 25 years, including his most recent post as president of Cox Media Group. [Read More]

Insurance Auto Auctions broadens its coverage in South Carolina Monday by opening its third location in the state. Seen as a complement to facilities in Charleston and Greenville, IAA started business in Columbia, South Carolina’s capital city. Insurance Auto Auctions’ Columbia branch is located at 1416 Atlas Road. In keeping with the company’s green philosophy […] [Read More]

RVI Group vice president Rene Abdalah doesn’t foresee the same kind of downward impact from skyrocketing gas prices that occurred in 2008, but he does expect that the Canadian wholesale market will see some softness due to the fuel-cost surge that has bubbled up recently. Granted, wholesale prices during January climbed 1.4 percent month-over-month, but […] [Read More]