The existing KCI Kansas City auction team will remain at the company after the acquisition.
The seasonally adjusted annualized rate of U.S. new vehicle sales could exceed 17 million units for the fifth straight year, a surprise for many, as forecasters predicted a slight drop off in 2019.
Overall used vehicle values, and truck values in particular, were down month-over-month in October, according to Black Book’s latest Used Vehicle Retention Index.
Cox Automotive has appointed Scott Maybee as president of NextGear Capital.
Trucks have shown the most strength of any segment with full-size trucks up 3%, while Kelley Blue Book shows midsize pickups rose 6%, aided by new and redesigned models.
The Federal Reserve announced a quarter-point interest rate reduction yesterday, its third such move this year. The target federal funds rate now stand at 1.5% after starting the year at 2.25%.
Jeep's four-door Wrangler has placed at the top of a list of 10 vehicles that retain the highest percentage of their value over a five-year period, according to the latest report from iSeeCars.
KAR Global's Openlane digital marketplace has given $10,000 in donations to two organizations and will launch an employee engagement initiative in 2020 to support coding education in Canada, the business unit has announced.
Holly Capps has been promoted to senior vice president of Manheim sales, reporting to Cox Automotive CSO Tim McKinley, the company announced. Capps had served as the Manheim sales leader on an interim basis since July.
After several weeks of accelerated depreciation, this week's Black Book Market Insights report shows more stable wholesale values.
Subcompact crossovers were the only segment that saw a positive change last month, compact vans and luxury cars saw the biggest declines.
In the 2019 fiscal year, the organization recorded more revenue, transactions, vehicles, locations, and customer miles logged than ever before.