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Net income at KAR Auction Services, parent of ADESA auctions, jumped 30 percent in the first quarter largely on a sharp drop in income taxes.
In this Q&A, new ADESA President John Hammer discusses future changes in the industry and how his company will thrive amid those changes.
John Hammer will spend his first weeks as new ADESA president on the road, before laying out new goals for the U.S. auto auction network.
John Hammer has been named president of the ADESA unit of KAR Auction Services, effective Feb. 26. He replaces Stephane St-Hilaire, who resigned.
In contrast to new-vehicle sales, U.S. used-vehicle sales will rise in 2018, even as prices soften, on rising volumes of off-lease vehicles, economists forecast.
KAR Auction Services' stock price rose Wednesday after the company reported solid third-quarter results.
KAR Auction Services has acquired all of the TradeRev technology that allows dealers to electronically buy used vehicles before they reach physical auctions.
KAR Auction Services plans a new $80 million headquarters two miles south of its current headquarters in Carmel, Ind.
How do you remove hundreds of thousands of damaged cars from a massive city still mired in water and muck? Tow-truck driver Alex Toll will tell you: one vehicle at a time.
KAR Auction Services' second-quarter net profile fell 7.4 percent on a debt-restructuring charge, even as revenue grew.
ADESA parent KAR's first-quarter net income and revenue both rose 14 percent, driven in large part by a surge in income at its auctions. Acquisitions also pushed the results up.
Cox Automotive and KAR Auction Services own the two largest U.S. auction groups. But they've taken quite different approaches to growing and diversifying.
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