Insurance Auto Auctions has taken steps to prepare its auctions for Hurricane Florence with lessons the company's leaders learned from last year's hurricanes, said John Kett, the company's chief executive and president.
TradeRev has expanded its dealer-to-dealer digital auction platform services into five new markets across the United States.
Several ServNet auctions consigned roughly 8,000 vehicles during special events at a number of locations this summer, and the organization has plans to host more events in the coming months.
Wholesale values for the entire sedan segment dropped after appreciating for the previous three weeks.
Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
After the heavy rains brought by Florence to the Carolinas stopped, estimates about the number of vehicles that were destroyed by the storm began to roll in that made it clear the storm would have far less of an impact that the pair of storms that reached Texas and Florida a year ago.
Military AutoSource (MAS) in partnership with Petty’s Garage will auction off a Warrior Edition Ford F-150 truck to benefit Paralyzed Veterans of America.
Overall values for car segments that Black Book tracks were up marginally on average, however, a majority of the individual segments reported lower values.
Following last year’s record-breaking attendance, the 2018 Summer Roundtable once again saw a nearly record breaking number of attendees for this year's event.
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Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
Ryan Rickey will serve as general manager for XLerate’s Your Auction in Florida, while Michael Schuler will assume that position at Pennsylvania's Corry Auto Dealer Exchange.
Event Solutions International will begin operating as Motus One and invest $2 million in technology to streamline 90% of the processes of the automotive mobility company that provides vehicle transportation services and event management.
ACV Auctions Inc. is on pace to sell over 100,000 vehicles by the end of 2018, after selling 8,600 vehicles in August, according to the company.
