The company has been in operation for three years, and now sells over 10,000 wholesale vehicles a month, representing 1% of all vehicles sold at auctions in the U.S.
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ServNet has added FastLane Auto Exchange, a Michigan-based auction, to its network of auctions, making it the auction group’s 23rd location nationwide.
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Overall, wholesale car segments values decreased 0.86% last week, compared to 0.72% the week before.
Read More →Toyota Motor North America (TMNA) and Toyota Financial Services (TFS) have made a number of executive changes in order to improve efficiencies at the companies.
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Asset disposition solutions provider Remarketing by Element, a business unit of Element Fleet Management, has joined the National Independent Automobile Dealers Association's network of National Member Benefit partners.
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Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
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The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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Insurance Auto Auctions Inc. has opened a new facility in Flint, Mich. for its salvage auctions, the KAR Auction Services division has announced.
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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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As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
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