Off-lease cars, repos buoy ADESA Q1 revenue, profits
The parent company of ADESA reported double-digit increases in net income and revenue in its fiscal first quarter, which ended March 31, largely due to a strong performance by the auction giant. Auction revenue benefited from an increase in the number of off-lease and repossessed vehicles.
Auctions sold more cars for more money in 2015, survey shows
Last year was a robust one for the auto-auction business, both in vehicles sold and prices paid. National Auto Auction Association member auctions sold 9.3 million vehicles in 2015, up 6.5 percent from 2014, the association's latest annual survey found.