auction

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....
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Online startups offer dealers faster, cheaper ways to wholesale vehicles

12:01 am U.S. ET | April 13, 2015

Years ago, dealers who wanted to get rid of aged used cars and unwanted trade-ins had to take them to a local auction. But now auctions are being challenged by start-ups that offer alternative ways to wholesale used vehicles....
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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....
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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....
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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....
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Lack of 2014 retired rental units buoy Nov. auction prices

3:34 pm U.S. ET | Dec. 5, 2014

Strong used-vehicle demand and a sharp decline in retired rental vehicles offered at auction buoyed prices of used cars and trucks in November....
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Dealer's vintage car auction packs 'em in

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

We reported last month on Dallas-area Ford dealer Sam Pack's plans to auction off 131of his 473 vintage automobiles in Dallas on Nov. 15. So how did things turn out? The event certainly attracted a crowd....
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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....
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Ray Lambrecht, dealer who auctioned 500 vintage Chevys, dies at 96

4:50 pm U.S. ET | Oct. 2, 2014

Ray Lambrecht, the Nebraska Chevrolet dealer who auctioned off more than 500 cars last year, died Sept. 22 at age 96, his family confirmed to The New York Times on Tuesday....
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Manheim rolls out program that lets dealers return vehicles

12:15 pm U.S. ET | Sept. 11, 2014

Dealers who buy almost any vehicle at a Manheim auction location also can purchase the right to return those vehicles for any reason for up 21 days or 500 miles, whichever comes first. The nation's largest auto auction company is now offering optional protection from DealShield, its sister company, that guarantees the purchaser a 100 percent refund of the purchase price plus buyer's fees if they choose to return the vehicle....
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Severe weather spurs auction expansion

12:01 am U.S. ET | Aug. 25, 2014

Insurance Auto Auctions Inc., which specializes in salvage vehicles and those donated to charity, has expanded its auction site outside Omaha, Neb., in response to growing volume....
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Manheim enters Brazil with acquisition of auction company CarBizz

2:51 pm U.S. ET | Aug. 13, 2014

Manheim, the largest auto auction company in the United States, has expanded its global operations into South America with the acquisition of Brazilian auction company CarBizz....
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