Auction News

KAR Auction Services Inc. has announced the placement of $550 million in newly issued perpetual convertible preferred stock of KAR Global. The preferred stock has a 7.0 percent dividend, which…
Xcite Advertising, an automotive marketing company, announced a complete rebranding and name change to Xcite Automotive. The Chicago-based company is expanding its product offerings to the automotive industry through the…
Wholesale used vehicle prices rebounded in the second half of May, raising the mid-month Manheim Used Vehicle Value Index to 133.0, a 5.74 percent increase from April, according to Manheim.…
The International Automotive Remarketers Alliance will hold a free May 22 webinar called “Opportunities Discovered” about dealer buying patterns and the latest retail activity. The webinar, scheduled for noon to…
Mike Browning, general manager of Manheim San Antonio and past NAAA president, has been named a Warren Young Fellow in recognition of his many contributions to the industry and association.…
The National Automobile Dealers Association announced that president and CEO Peter Welch will be retiring at the end of 2020. Welch, 67, was appointed by the NADA Board of Directors…
The NIADA announced this week that Opie Hendricks, a past president of the National Independent Automobile Dealers Association and a local icon in McKinleyville, Calif., died April 12, at the…
The National Independent Automobile Dealers Association announced the death of Scott Lilja, NIADA’s vice president of member services. Lilja, 58, died May 3 after a long battle with multiple myeloma.…
Manheim reported wholesale used vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 11.41 percent month-over-month in April. This brought the Manheim Used Vehicle Value Index to 125.8,…
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