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KAR Consolidates Repo Industry Business Units

Recovery Database Network and Clearplan are two of KAR Auction Services' business units that...

KAR Auction Services, Inc. has consolidated its management team for two of its businesses — Recovery Database Network (RDN) and Clearplan — in order to improve synergies for the complementary business units.

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KAR Acquires Europe-Based Online Auction Company

The acquisition is valued at approximately $177 million (156 million euro). Roughly $103 million...

KAR Auction Services, Inc. has reached a definitive agreement to acquire CarsOnTheWeb (COTW), an online auction company serving the wholesale vehicle sector in Continental Europe, according to a company announcement.

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Used Fleet Vehicle Prices Fell 2% in October

The average price of fleet vehicles sold at auction in October fell 2%.

The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.

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Used Values Stabilize After Big Drop

Overall, car segment values decreased by 0.41% last week, compared to 0.69% the week before....

Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.