March Prices Down for Used 1- and 3-Year-Old Vehicles Click to view online.

April 24, 2017
KAR Acquires DRIVIN for $43M

KAR Auction Services will acquire the Chicago-based company that operates as DRIVIN, a B2B data provider that helps used car dealers set prices based on their local marketplace, for $43 million, according to KAR.

<p><em>Tom Kontos</em></p> March Prices Down for Used 1- and 3-Year-Old Vehicles

In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.

<p><em>Smoke</em></p> Cox Automotive Names New Chief Economist

Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.

<p><em>Courtesy of Black Book.</em></p> Wholesale Market Strengthens on the Week

High vehicle demand delivered strong showings across nearly all vehicle segments in the past week, according to Black Book’s April 17 Market Insights report.

ServNet to Form Client Advisory Board

ServNet will be forming a Client Advisory Board that will consist of 10 to 12 executives from key commercial accounts and institutional consignors. These executives, according to the company, will assist in identifying, implementing and refining best practices at auctions.

<p><em>Courtesy of Carvana</em></p> Carvana Opens Fourth Car Vending Machine in Texas

Carvana has opened up its fourth car vending machine in Texas — and the fifth nationwide — in Frisco, Texas, according to a company announcement. The vending machine will stand eight stories tall, contain four delivery bays, and hold up to 30 cars.

Copart Updates Mobile App

The updated version allows users to upload their licenses onto the application. Additionally, a new Lot Scan feature will allow users to scan bar codes at Copart locations in order to attain details about vehicles they’re interested in.

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