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Digital sales have grown 12% through the first six months of 2019, according to KAR Auction Services' 2019 second quarter earnings call.
Copart has opened a new location in Buffalo, New York, marking the sixth location for the company in the state, the company announced.
Copart has opened a new 53-acre location in North Charleston of South Carolina.
KAR Auction Services, Inc. has completed the acquisition of CarsOnTheWeb.
Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
Roughly 124 dealers participated in the sale, with the majority participating through digital channels. Manheim offered 118 vehicles during the sale, and sold more than half.
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.
The company has been in operation for three years, and now sells over 10,000 wholesale vehicles a month, representing 1% of all vehicles sold at auctions in the U.S.
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.
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.