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Kar Auction Services

TradeRev to Open New Indianapolis HQ

KAR Auction Services will spend $3.75 million to build a new headquarters for its TradeRev division in downtown Indianapolis’ Century building, the former home of Indiana’s first automaker.

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ADESA Appoints Drehs VP of Major Dealer Accounts

Scott Drehs has been named ADESA’s first-ever leader of major dealer accounts after serving as regional vice president of operations for AFC, another KAR Auction Services brand.

Cornered Fed Announces First Rate Cut Since 2008

Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.

KAR Rebrands CarsOnTheWeb as ADESA Europe

KAR Auction Services has fully integrated and officially rebranded the recently acquired CarsOnTheWeb as ADESA Europe, serving dealers, wholesalers, manufacturers, and fleets in more than 50 countries.

Preferred Warranties Names Marley VP of Sales

Allison Marley has joined Preferred Warranties Inc. as the KAR Auction Services division’s new vice president of sales.

Upstream Remarketing Keeping Used-Vehicle Values Strong

Depreciation through the first half of 2018 stood at 13.7%, much lower than the 16.3% rate recorded in the year-ago period. Analysts say upstream remarketing has kept values strong despite the tidal wave of off-lease vehicles that returned to market during the period.

KAR Names New Leader for Preferred Warranties

Edmund Field, who joined KAR earlier this year as director of new product development, now serves as president of the company's Preferred Warranties business unit.

ADESA Canada Names New Vice President of Dealer Sales

The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.

KAR Names New Leader for Autoniq

Joe Oliveri, a 20-year industry veteran, was named vice president of KAR's Autoniq business unit, which provides mobile and digital vehicle pricing and evaluation reports.

Manheim to Close Florida Auctions Ahead of Irma

Manheim said it's closing four of its Florida auctions on Friday ahead of Hurrican Irma's expected landfall there. The storm battered Puerto Rico on Wednesday after striking the northern Lesser Antilles and the Virgin Islands with 185-mile-per-hour winds.