Copart to Expand Its Altoona Location

Copart will be expanding its Altoona auction located in Ebensburg, Pa. in order to bolster its storage capacity in the state, the company announced in a statement.

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Manheim Promotes Three to General Manager Role

Manheim has pulled from Cox Automotive’s network of companies to promote three leaders to general manager roles, according to a company announcement.

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Weekly Compact Van Wholesale Prices Continue to Show Strength

Trucks outperformed cars last week, driven in large part by the strength of compact vans, according to Black Book’s May 8 Market Insights report.

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Hertz Reports Net Loss of $223M

For the first quarter 2017, Hertz Global Holdings Inc. reported declines in revenue and earnings. Hertz’s total revenues were $1.9 billion, a 3% decline year-over-year, while adjusted earnings were negative $110 million — compared to positive $27 million in Q1 2016.

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Manheim Elevates Pair to VP Roles

Manheim has named Peter Grupposo as vice president of dealer sales and Holly Capps as vice president of inventory solutions commercial and wholesale sales, according to a company announcement.

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Cars.com Spin-Off Approved by Board of Directors

First announced in September of last year, Cars.com's separation from TEGNA as its own publicly traded company will be completed on May 31; shares of the new separate company will begin regular trading on the New York Stock Exchange (NYSE) the next day.

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Flexco's Shoemaker to Lead New Foundation

Ron Shoemaker, who founded Flexco Fleet Services, is moving out of his role as CEO to lead The Hourglass Foundation, which he co-founded with son Chad, who will step into the top role with the remarketing company.

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Pickup Trucks See Wholesale Gains

Overall wholesale used-vehicle prices (on a mix-, mileage-, and seasonally-adjusted basis) improved 0.5% month-over-month in April. On a year-over-year basis in April, only pickups saw gains greater than the overall market.

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Manheim Pennsylvania Hosting Auctioneer Championship

More than 100 auctioneers will compete in Manheim Pennsylvania Auto Auction's 2017 World Automobile Auctioneers Championship (WAAC) on May 12 during a one-day event to determine the best auctioneer, ringperson, and two-person team for $12,500 in prize money.

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Avis Budget Revenue Drops 2%

Avis Budget Group has reported revenue of $1.8 billion for its first quarter 2017, a 2% decrease. This is primarily due to a 5% decline in pricing partially offset by a 3% increase in rental days.

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