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Used Fleet Vehicle Values Rise 1.9% in January

Used Fleet Vehicle Values Rise 1.9% in January

The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.

February 14, 2019

KAR Expands Global Reach with Online Wholesaler Acquisition
GM Sells 15 Millionth Vehicle on Upstream Platform
KAR Hires VP for Recovery Database Network

KAR Hires VP for Recovery Database Network

KAR Auction Services has hired John Sibbitt as vice president of business development for its Recovery Database Network, which provides banks and credit unions with software and data solutions to manage repossession and the disposition value chain, KAR has announced.

January 11, 2019

AutoIMS Names CEO to Replace Broe

Auto Auction Services Corp., which is also known as AutoIMS, has named Venkat Krishnamoorthy as its new chief executive, following the retirement of Mike Broe.

January 2, 2019

Top News of 2018 on VehicleRemarket.com

Top News of 2018 on VehicleRemarket.com

The top news of 2018 included coverage on the hurricane's impact on the remarketing industry, the effects of the off-lease tidal wave, mobile technology and Manheim.

December 20, 2018

Wholesale Vehicle Prices Soften in November

Wholesale Vehicle Prices Soften in November

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.

December 14, 2018

KAR Consolidates Repo Industry Business Units

KAR Consolidates Repo Industry Business Units

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.

December 11, 2018

KAR Acquires Europe-Based Online Auction Company

KAR Acquires Europe-Based Online Auction Company

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.

December 5, 2018

KAR Auction Services Adds Asset Recovery Platform

KAR Auction Services Adds Asset Recovery Platform

KAR Auction Services has acquired Reno, Nev.-based Clearplan, a digital platform for recover agents, drivers, forwarders, and lenders that provides a centralized hub for repo workflow and logistics management.

November 13, 2018

Used Fleet Vehicle Values Fall 1.6% in September

Used Fleet Vehicle Values Fall 1.6% in September

Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.

October 18, 2018

TradeRev Expands to Kentucky, Tennessee
Used Fleet Vehicle Values Increase 1.5% in August

Used Fleet Vehicle Values Increase 1.5% in August

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.

September 21, 2018

TradeRev App Streamlines Used-Vehicle Inspections