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KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
Consignment and sales from the acquired facility will be merged into existing operations at Indiana Auto Auction, according to Eric Autenrieth, who leads the auction group.
Manheim New England recently hosted its third annual “Touch-A-Truck Event,” a philanthropic event that benefited two young children born with congenital heart defects.
An increasing number of flood-damaged vehicles are returning to the used market across the country, and increasingly in states where flooding might not be top of mind, according to new data from Carfax.
Manheim announced the addition of two new, dealer-facing features to the Manheim Express mobile app, both available now.
The new location, located in Ontario, Calif., stands eight stories tall and holds 27 vehicles.
The general managers will oversee locations in California, Oregon, and Canada.
Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
To increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace, Manheim is introducing flat-rate pricing for automatic post-sale inspections, providing dealers a hassle-free way to reduce their risks and help ensure vehicles bought at auction are in the expected condition.
Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
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.
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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