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The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
The vending machine, which will stand eight stories high and hold 30 vehicles, will be located in the Westminster, Calif., a city roughly 30 miles south of Los Angeles.
The award was established in 2016 and recognizes the charitable acts that auctions perform in order to encourage greater volunteer involvement.
The International Automotive Remarketers Alliance's current president, Tim Meta of Fifth Third Bank, will pass the gavel to Paul Seger, EVP, asset remarketing at Element.
John Brasher and Robert Sullivan will head ServNet's executive team and will assume leadership of the auction group on Jan. 1, 2020 after longtime ServNet CEO Pierre Pons steps down.
The average interest rate for a new-vehicle loan dropped for the third month in a row in July, hitting its lowest level of 2019, according to Edmunds.
Digital sales have grown 12% through the first six months of 2019, according to KAR Auction Services' 2019 second quarter earnings call.
ADESA has created a new role to direct and activate the team that develops relationships with its large-scale buyers and sellers.
Copart CEO Jay Adair stated that this new location is a strategic step in expanding the company's footprint in the state.
AFC, which is a business unit of KAR Auction Services Inc., has promoted Kyle Maurer to VP of operations for the East Division.
Prompted by a severe shortage of auto technicians nationwide and fast-growing need by clients for the company’s reconditioning services, Manheim has launched its own apprentice program, the company announced.
AutoNation Inc. announced that CFO Cheryl Miller has been appointed president and CEO, replacing Carl Liebert, who joined the company in February. She becomes the first female CEO of a publicly traded automotive retailer.
Several thousand vehicles that were flooded and damaged during tropical storm Barry may reappear for sale across the country in the coming months, warns the National Insurance Crime Bureau.
Drew Shull has been appointed as VP of sales and client experience, an appointment which aims to help create new client relationships and foster PAR's existing customer base.
AutoIMS has appointed Robert Williams to the newly created position of chief technology officer.
View photos from the 2019 Conference of Automotive Remarketing, which took place from March 25 to 27 at Caesars Palace Las Vegas.
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