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.
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The Manheim Marketplace achieved record growth across its digital channels in the first half of 2018, including double-digit growth in digital transactions, volume and sales as wholesale vehicle buyers and sellers continue to adopt a faster, more cost-effective way to move inventory.
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The initiative began in 2014, when the company first announced that its $400 million multiple-year project to transform its auction operations. In that time Manheim brought enhancements to both its physical and digital properties.
Read More →Insurance Auto Auctions, a business unit of KAR Auction Services, has opened a new branch in Casper Wyoming, according to a company announcement.
Read More →Ally Financial Inc. and Fair have partnered to allow Fair to use Ally’s SmartAuction as a remarketing solution for its returned cars, according to a company announcement.
Read More →Salvage auction specialist Copart has acquired Autovahinkokeskus Oy, a salvage auto auction company based in Finland, the company announced.
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In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
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Copart expanded its Greenwell Springs, La., location to increase asset capacity in an area of the country that that is prone to hurricanes.
Read More →Nearly 75% of the BMW vehicles offered during Manheim's first open digital block sale for BMW Financial were sold during the auction, according to Manheim.
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Houston's auto auctions have begun assessing the impact of Hurricane Harvey so they can resume full business activity to supply replacement vehicles for those who lost cars, trucks, and SUVs in the flood.
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