THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
Manheim and Adesa auctions in the path of hurricane Dorian mostly shifted to digital sales on Thursday as the storm drenched the Carolinas and Virginia.
The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.
Several thousand vehicles that were flooded and damaged during tropical storm Barry may reappear for sale across the country in the coming months, warns the National Insurance Crime Bureau.
Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
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.