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Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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The initiative began in 2014, when the company first announced that its $400 million multiple-year project to transform its auction operations. In that time Manheim brought enhancements to both its physical and digital properties.
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Salvage auction specialist Copart has acquired Autovahinkokeskus Oy, a salvage auto auction company based in Finland, the company announced.
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In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
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Houston's auto auctions have begun assessing the impact of Hurricane Harvey so they can resume full business activity to supply replacement vehicles for those who lost cars, trucks, and SUVs in the flood.
Read More →Using internet equipment auctions can help you overcome the problems of tight timelines, market value and changing brands, according to the company.
Read More →IronPlanet will run its end-of-quarter events from June 27 to 30, featuring an All-Humvee Auction and three equipment sales on the IronPlanet and GovPlanet websites.
Read More →Copart, Inc. is opening its first German vehicle storage and auction location in Bad Fallingbostel, near Hanover, the online auctioneer has announced.
Read More →Manheim and several other remarketing industry partners will continue moving forward to develop a multiplatform bidding system in the wake of announcements by ADESA and ServNet Auctions dropping out of the planning process.
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ADESA will not participate in an automotive remarketing industry initiative to establish a platform that would allow simultaneous bidding on vehicles listed on multiple online auction sites.
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