KAR Auction Services, Inc. has hired Tom Fisher as its executive vice president and CIO, according to a company announcement. In this position, he will be responsible for overseeing KAR’s information technology strategy, operations and activities.
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The $17 million investment will bring a bevy of enhancements to the Manheim California, Manheim Riverside, Manheim San Diego, and Manheim Southern California locations.
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Overall used car values were up 0.09% compared to the week before, while overall truck values were essentially flat on a volume-weighted basis, according to Black Book’s April 3 Market Insights report.
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Rising interest rates will have a minimal effect on the used car market today. However, the used-car market is poised to suffer, in the longer term, as federal interest rates continue to rise, one expert said.
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The 2017 Conference of Automotive Remarketing (CAR) was held March 1 to 2 at the Paris Las Vegas hotel, and was host to nearly 700 remarketers and consignors.
Read More →GM Financial presented its 2016 auction of the year awards to ADESA Kansas City for Open Sale Auction of the Year and Manheim Statesville in North Carolina for Closed Sale Auction of the Year award, the company announced earlier this week.
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NextGear capital has named Lisa Mackie as its vice president of sales, a newly created a new position to support future growth in the inventory-financing sector, according to a company announcement.
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Both cars and trucks realized a healthy seasonal boost to wholesale performance last week, according to Black Book’s March 27 Market Insights report. Depreciation among light trucks was at one of the lowest levels seen all year, and the overall car segment actually saw wholesale values appreciate.
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Auto auction industry veteran Eric Wagner will take over as the general manager of Tallahassee Auto Auction, after being appointed by Charles Nichols, the president of BSC America.
Read More →New-vehicle sales are expected to total 1.63 million units in March, a 3% year-over-year increase, resulting in an estimated 17.4 million seasonally adjusted annual rate, according to Kelley Blue Book.
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