Carvana Opens Fourth 'Car Vending Machine' in Texas

CARVANA has opened up its fourth car vending machine in Texas — and the fifth nationwide — in Frisco, Texas, according to a company announcement. The vending machine will stand eight stories tall, contain four delivery bays, and hold up to 30 cars.

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ServNet to Form Client Advisory Board

ServNet will be forming a Client Advisory Board that will consist of 10 to 12 executives from key commercial accounts and institutional consignors. These executives, according to the company, will assist in identifying, implementing and refining best practices at auctions.

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KAR Acquires DRIVIN for $43M

KAR Auction Services will acquire the Chicago-based company that operates as DRIVIN, a B2B data provider that helps used car dealers set prices based on their local marketplace, for $43 million, according to KAR.

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March Prices Down for Used 1- and 3-Year-Old Vehicles

In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.

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Wholesale Market Strengthens on the Week

High vehicle demand delivered strong showings across nearly all vehicle segments in the past week, according to Black Book’s April 17 Market Insights report.

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Cox Automotive Names New Chief Economist

Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.

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Copart Updates Mobile App

The updated version allows users to upload their licenses onto the application. Additionally, a new Lot Scan feature will allow users to scan bar codes at Copart locations in order to attain details about vehicles they’re interested in.

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Ky. Court May Cease Employee Surplus Sales

The Kentucky Administrative Office of the Courts is under investigation for its employee-only surplus sales, in which the office's 225 employees were invited to purchase old furniture, computer equipment, and vehicles.

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VW Has Fixed, Repurchased Half of 2.0L Diesels

Volkswagen has bought back or repaired more than half of the 475,000 vehicles with 2.0-liter diesel engines that failed to meet emissions standards as part of a federal settlement about six months after it began the program.

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Avis Budget to Announce Q1 Results

Avis Budget Group Inc. plans to report its first quarter 2017 results after market close on Wednesday May 3.

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