Auto AuctionADESA forecasts rising off-lease volume in second half of year 12:01 am U.S. ET | May 13, 2013  ADESA, the nation's second-largest used-vehicle auction company, expects an uptick in sales of off-lease vehicles, especially in the second half of the year, said the top executive at its parent company.... Read More »
ADESA parent KAR's Q1 profit rose 12% to $29 million 10:09 am U.S. ET | May 2, 2013 KAR Auction Services, parent company of vehicle-auction company ADESA, said its first-quarter net income rose 12 percent to $29 million on a 10 percent increase in revenue, to $558 million.... Read More »
Arnie Addison, founder of Bay Cities Auto Auction in Calif., dies 5:21 pm U.S. ET | March 20, 2013 Arnie Addison, a founder of Bay Cities Auto Auction in Hayward, Calif., died March 1. He was 83.... Read More »
Repo-related American Recovery Assn., National Finance Adjusters merge 8:00 am U.S. ET | Feb. 26, 2013 The American Recovery Association, an association of remarketing and recovery professionals that specializes in locating and repossessing vehicles on behalf of lenders, has merged with National Finance Adjusters, an organization that specializes in education for collateral recovery and liquidation professionals.... Read More »
Sandy walloped ADESA's vehicle-salvage unit, CEO says 4:15 pm U.S. ET | Feb. 21, 2013 Hurricane Sandy hit KAR Auction Services and its used-vehicle salvage arm, Insurance Auto Auctions, far harder last fall than Hurricane Katrina did in 2005, KAR CEO Jim Hallett said today.... Read More »
ARLENA SAWYERS Heavy snow won’t stop auction action, NAAA president says 6:22 pm U.S. ET | Feb. 9, 2013  The roads are blocked, businesses are closed and people have hunkered down in their homes as the Northeast rides out the great blizzard of 2013. But come Monday morning auto auctions located in the snow-covered Northeast will be ready for business, predicts Paul Lips, president of the National Auto Auction Association.... Read More »
Used-car auction volumes seen rising 5% in 2013 10:51 am U.S. ET | Feb. 9, 2013  New-vehicle sales to rental car companies in 2012 rose 11 percent to 1.55 million units in the United States, which will help increase the number of vehicles returning to the used-car market in 2013, predicts an annual report on the state of the used-car industry.... Read More »
The remaking of remarketing 12:01 am U.S. ET | Oct. 22, 2012  Buying and selling used vehicles at wholesale used to be pretty straightforward: You would just go to the local auto auction. If you couldn't find what you wanted, you would go to the next week's auction in another town. But now buyers and sellers have a range of nontraditional choices.... Read More »
REMARKETING Experiments in auctions: Trying new formats 12:01 am U.S. ET | Oct. 22, 2012  American Auto Auction Group exemplifies how the remarketing industry is experimenting with new formats to help dealers sell their unwanted used cars and trucks. The 3-year-old Charleston, S.C., company operates 13 private-label and mobile auctions designed to match local franchised dealers who have vehicles to sell with local independent used-car dealers who want to buy vehicles.... Read More »
REMARKETING Do I hear more? 12:01 am U.S. ET | Sept. 24, 2012  The U.S. auto auction industry is poised next year for its first sales uptick since 2007, says the incoming president of the National Auto Auction Association. Paul Lips bases his optimism on simple math: The higher new-car sales of the past couple of years will generate more trade-ins and more off-lease and repossessed vehicles.... Read More »
Second quarter was 'challenging' for ADESA, parent company CEO says 3:06 pm U.S. ET | Aug. 8, 2012 The industrywide drop in the number of commercially owned vehicles returning to the wholesale market created a “challenging” second quarter for ADESA Auctions Inc., the CEO of its parent company said.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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