Carvana Takes Steps to File for IPO

Carvana, an online used-car retailer that’s best known for its “car vending machine,” has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO).

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Copart Reaches 200 Auction Locations

Dallas-based Copart Inc. opened its 200th auction location in the Wilmington area of Los Angeles in late March as the company celebrates its 35th anniversary.

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Black Book to Power Trade-In Appraisal Engine

eAutoAppraise, a provider of online trade-in valuation and credit prescreening services, said that with this move, it’s dealer partners would now have access to Black Book’s accurate vehicle valuation services.

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KAR Names CIO

KAR Auction Services, Inc. has hired Tom Fisher as its executive vice president and CIO, according to a company announcement. In this position, he will be responsible for overseeing KAR’s information technology strategy, operations and activities.

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Manheim Investing $17M in Four Southern California Auctions

The $17 million investment will bring a bevy of enhancements to the Manheim California, Manheim Riverside, Manheim San Diego, and Manheim Southern California locations.

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IronPlanet to Host Heavy Equipment Auction in Iowa

IronPlanet, an online marketplace for selling and buying used equipment and other durable assets, will host a Cat Auction Services Unreserved Public Auction that will include over 200 pieces of used equipment.

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Weekly Wholesale Car and Truck Values Strengthen

Overall used car values were up 0.09% compared to the week before, while overall truck values were essentially flat on a volume-weighted basis, according to Black Book’s April 3 Market Insights report.

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Rising Interest Rates Pose Little Short-Term Risk

Rising interest rates will have a minimal effect on the used car market today. However, the used-car market is poised to suffer, in the longer term, as federal interest rates continue to rise, one expert said.

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Auction Academy Opens Enrollment for Seminar Series

The Auction Academy is now accepting enrollment to participate in the training academy’s Digital Internet Seminar in April.

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Tom Webb to Retire as Cox Automotive's Chief Economist

Tom Webb will retire as Cox Automotive's chief economist after a more-than-four-decade career, where he became a leading voice about the economic health of the automotive industry.

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