DAA Las Vegas has been awarded the 2022 Auction of the Year award by United Auto Credit.
This honor recognizes the exceptional performance and dedication of the team at DAA Las Vegas in providing outstanding service and results to United Auto Credit.
“DAA Las Vegas has consistently exceeded our expectations and has been a valuable partner in our remarketing efforts,” said Scott Mousaw, director of asset remarketing at United Auto Credit. “Their commitment to excellence and customer service is evident in the results they have achieved, and we are thrilled to recognize them with this award.
Joe LeMonds, general manager at DAA Las Vegas, said the auction’s team was honored to receive the award.
“Our team is dedicated to providing the highest level of service and support to our customers, and it is gratifying to see that hard work and dedication recognized in this way,” Lemond said. “We look forward to continuing our partnership with United Auto Credit, building on our success in the years to come.”
KAR Auction Services, d/b/a KAR Global, an operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2022 financial results after the market closes on Feb. 21.
KAR will also be hosting an earnings conference call and webcast on Feb. 22, at 8:30 a.m. ET. The call will be hosted by KAR Chief Executive Officer Peter Kelly and Interim Chief Financial Officer Scott Anderson.
IAA, a digital marketplace connecting vehicle buyers and sellers, said that IAA Loan Payoff exceeded $3 billion in total loss transactions in 2022. This exponential growth follows the tool’s 2021 record of $1.2 billion in loans and leases processed, bringing the grand total in transactions since its launch to $5 billion.
“This milestone of over $3 billion in total loss loans transacted in 2022 is an incredible accomplishment, and a testament to how much IAA Loan Payoff improves the overall claims experience for our customers,” said John Kett, CEO and President of IAA. “An expedited claims process leads to more satisfied policyholders, and we are thrilled to be leaders in advancing toward an all-digital environment, reducing stress, time and costs.”
IAA Loan Payoff offers direct digital integration and settlement with all major financial institutions for both positive and negative equity loans.
IAA Loan Payoff provides a single point of entry for all total loss transactions with a lien or lease, using its secure digital portal to automate inefficient manual communications between carriers and lenders.
Tom Tomlinson will retire as president and chief executive officer and resign from the board at Holley Inc., a platform serving performance automotive enthusiasts. The board has appointed current director Michelle Gloeckler as interim president and CEO while it conducts a comprehensive search process to identify a permanent CEO. The search will be conducted with the assistance of Heidrick & Struggles, who was retained by the board in September 2022 for a comprehensive review of succession planning. Ms. Gloeckler has been a member of the Board since July 2021 and has over 30 years of experience in consumer-packaged goods, merchandising, sourcing, manufacturing and strategy.
In addition, Matthew Rubel, the company’s current chairman of the board, was designated and appointed executive chairman of the board, and expects to serve in such role until a permanent CEO has been selected. Further, Graham Clempson, an observer on the Board since the Company’s business combination with Empower Ltd. in July 2021, was appointed to serve as a member of the Board, effective immediately.
Manheim estimates that used retail sales increased 16% in January from December and that used retail sales were up 5% year over year, based on leveraging a same-store set of dealerships selected to represent the country from Dealertrack.
Using estimates of used retail days’ supply based on vAuto data, January ended at 44 days’ supply, down from 56 days at the end of December and six days lower than how January 2022 ended at 50 days.
Leveraging Manheim sales and inventory data, wholesale supply is estimated to have ended January at 26 days, down six days from the end of December and down five days from how January 2022 ended at 31 days.