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KAR Auction Services

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.

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.

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.

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.

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.

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.