Auto Auction

Instant online auctions save time, costs

12:01 am U.S. ET | Aug. 31, 2015

Need to price and sell a trade-in fast? Recently developed apps enables franchise dealers to get appraisals and purchase offers on their mobile devices or desktop computers for their used vehicles in an hour or less. ....
Read More »

Ferraris lead the pack at $390 million Pebble Beach car auctions

2:04 pm U.S. ET | Aug. 17, 2015

Ferrari led the pack again. The Italian sports cars accounted for seven of the top 10 sales at auctions in California that fetched $390.6 million....
Read More »

ADESA’s Q2 income, revenue rise

2:28 pm U.S. ET | Aug. 4, 2015

KAR Auction Services, parent company of ADESA, today said its second-quarter net income rose 17 percent to $59.5 million on revenue that increased 12 percent to $658.3 million....
Read More »

Texas floods may yield 10,000 damaged vehicles

9:54 am U.S. ET | June 5, 2015

As many as 10,000 vehicles may have been damaged in last month’s catastrophic Texas floods, and some could be resold out of state to unsuspecting buyers, according to a group that works to prevent insurance fraud....
Read More »

KAR Auction will add auctions, inspection unit

12:01 am U.S. ET | June 1, 2015

KAR Auction Services plans to build or buy physical auctions and a vehicle inspection business as part of its growth strategy....
Read More »

Buyers emerge for auction companies

12:01 am U.S. ET | May 25, 2015

Mergers and acquisitions are happening among auto auctions, and attracting private-equity players, for the same reasons they are on the rise among car dealerships: Robust and growing sales volumes and aging owners....
Read More »

Auctions focus on high-quality vehicle images

12:01 am U.S. ET | May 25, 2015

Auctions are taking steps to raise the quality and resolution of their vehicle photos, yielding more bids and higher conversion rates....
Read More »

KAR Auction Q1 net income doubles

3:11 pm U.S. ET | May 6, 2015

KAR Auction Services, parent company of ADESA, said its net income more than doubled to $54.5 million on revenues that increased 8.3 percent to $632.4 million in the first quarter....
Read More »

VIDEO: Opting for the online auction lane

12:01 am U.S. ET | April 7, 2015

Online used-vehicle shopping is changing how dealers and auction companies operate....
Read More »

VIDEO: Manheim Pennsylvania's legacy in the lanes

12:01 am U.S. ET | April 6, 2015

Manheim Pennsylvania, the birthplace of the nation's largest auction company, celebrates 70 years in business....
Read More »

Manheim offers a la carte services

12:01 am U.S. ET | March 9, 2015

Manheim, the nation's largest auto auction company, is unbundling services that it had offered only on vehicles that dealers bought or sold through its auctions. The company will offer vehicle acquisition, inspection, reconditioning, transportation and other services a la carte....
Read More »

ADESA bows out of multiple platform auction sales

7:52 pm U.S. ET | Feb. 23, 2015

After investing nearly two years and “several million dollars” to help create online auction selling across multiple platforms, ADESA is bowing out, said Peter Kelly, president of ADESA's corporate sibling in charge of digital services....
Read More »

KAR Auction names Peter Kelly president of new digital group

1:53 pm U.S. ET | Jan. 8, 2015

KAR Auction Services, parent of ADESA, has named Peter Kelly president of its new Digital Services Group, effective immediately. Kelly, 46, co-founded Openlane in 1999 and has been KAR’s chief technology officer since 2013....
Read More »

NextGear opens to franchise dealers

12:01 am U.S. ET | Dec. 22, 2014

NextGear Capital, a sibling to auction giant Manheim, now is offering loans to finance franchise dealerships' new- and used-vehicle inventory....
Read More »

DriveTime names Manheim, low-end vehicle auction as exclusive remarketers

4:07 pm U.S. ET | Dec. 11, 2014

DriveTime has named Manheim and Go Auto Exchange, an auction that specializes in dealer-to-dealer sales of low-end used vehicles, as its exclusive sales outlet for remarketing vehicles....
Read More »

Next phase of multiplatform sales? Hold your horses

12:01 am U.S. ET | Nov. 24, 2014

Remarketers, auto dealers and others had hoped to hear at a remarketing conference this month about when the next stage in online multiplatform auction selling would arrive. But when Jay Cadigan, who represents Manheim in conversations with other key players hammering out details of the initiative, was asked about its timeline, he demurred....
Read More »

Rising off-lease volume hits ADESA lanes

12:01 am U.S. ET | Nov. 10, 2014

The number of vehicles sold at ADESA's physical auctions rose 4 percent in the third quarter as a much-anticipated rising volume of off-lease vehicles began to be felt in the remarketing world, said the CEO of the auction company's parent....
Read More »

ADESA doubles Q3 profits on growing auction volume

2:29 pm U.S. ET | Nov. 5, 2014

KAR Auction Services, parent of ADESA, said its third-quarter net income more than doubled to $47 million from $22 million a year earlier, on revenues that increased 10 percent to $589 million....
Read More »

Texas dealer Sam Pack thins his vintage car collection

12:01 am U.S. ET | Oct. 12, 2014

Sam Pack, a Dallas-area Ford dealer and antique car collector, will sell 132 of his 473 cherished vintage automobiles at an auction in Dallas on November 15....
Read More »

AutoGrade schools the auction industry

12:01 am U.S. ET | Sept. 29, 2014

Adopted by the nation's largest auction companies and endorsed by NAAA, AutoGrade is an electronic vehicle-condition reporting system that is being touted as a way to reduce human error and subjectivity when describing vehicle condition and damage....
Read More »

New NAAA chief steps in as volume steps up

12:01 am U.S. ET | Sept. 22, 2014

The past few years have been rough for the auto auction industry. But things are looking up, said Ellie Johnson, president-elect of the National Auto Auction Association....
Read More »

Automotive News Cover
News by Brand