Auctions

Considering used affordability & availability after Harvey

ATLANTA and SANTA MONICA, Calif. - 

The used-vehicle industry appears to be in better position to welcome extra demand stemming from destroyed units strewn within the path of Hurricane Harvey.

But can individuals who lost so much in Houston and elsewhere in the Gulf region handle the potential extra cost of securing new transportation? That’s what experts are now considering.

During a conference call with the media on Friday, Autotrader executive analyst Michelle Krebs said, “Affordability is going to be an issue. These poor people are going to be challenged financially if they’ve lost homes and don’t have insurance and they’ve also lost their car. That’s something we’ll have to watch carefully.”

Krebs mentioned that while there are plenty of off-lease units in the wholesale space — nearly new units less than 4 years old — she pointed out that vehicles that are 4 to 8 years old and are “much affordable are in much tighter supply.”

Cox Automotive chief economist Jonathan Smoke quantified Krebs’ point with some specific figures, stating during the same call that there are roughly 20 million less units that are between 4 and 8 years old than those nearly new, off-lease vehicles.

Still Smoke noted that at least there are used vehicles available in the auction lanes. After Superstorm Sandy in October 2012, that was not necessarily the case.

“When you think about when Sandy impacted New York, more of that (demand) ended up into new-vehicle sales because at that time there weren’t very many used or relatively new vehicles because we were coming out of the Great Recession and the lowest vehicle production period, from 2009 through 2011. That pushed people a bit more toward new,” Smoke said.

Whether they’re buying used or new vehicles, Kelley Blue Book senior analyst Alec Gutierrez acknowledged vehicle shoppers and owners in the Houston market gravitate toward SUVs and trucks. Affordability and the dire situation might lead to some changes as Gutierrez mentioned that midsize and compact car inventories on the new-car side are each at or near 100 days’ supply.

“These are folks who are looking to get back on the road as quickly as possible so they can put their lives back together and get to their work if it wasn’t impacted,” Gutierrez said. “(Midsize and compact sedans) are affordable basic transportation. You might see some folks switch their preferences to find an affordable unit.”


CarMax kickstarts customer appreciation months for dealers

RICHMOND, Va. - 

As part of CarMax Auctions Customer Appreciation Months for registered dealers, customers can look forward to upcoming events filled with catered meals and giveaways.

Customer appreciation events are set to take place at each of the company’s 73 auction locations throughout September and October.

CarMax Murrieta, the company’s largest auction facility on the West Coast, in Murrieta, Calif., will host its inaugural customer appreciation event on Oct. 30. CarMax opened the new facility earlier this year.

The auction is anticipating an estimated 400 visitors to attend the inaugural event, according to CarMax.

“We look forward to celebrating our customers who have supported us since we opened our auctions facility in February,” CarMax Murrieta auction services location general manager Carlos Raygoza said in an email. “We value these relationships and are excited to hold this event in their honor.”

Additionally, CarMax Auctions are open to dealers only, and sales are held in a live, open bidding format.

Click for a full schedule of events sorted by auction location.


KAR looking to care for employees & customers in wake of Harvey

CARMEL, Ind. - 

As passionate as Jim Hallett spoke about the ways KAR Auction Services is geared up to handle the wholesale market workload coming because of Hurricane Harvey, the company’s chairman and chief executive officer emphasized more than anything during an exclusive conversation with AuSM on Friday how the well-being of nearly 1,000 employees in the impacted region trumped it all.

While KAR wasn’t aware of any employees being injured, Hallett shared that some individuals initially ended up in shelters after being rescued by emergency personnel. That stark reality is giving KAR’s team some profound perspective as Insurance Auto Auctions braces to process thousands of damaged units and ADESA prepares for the likelihood more units will be coming down the lanes at physical facilities or online.

“I think you start with a good word, horrific. First and foremost, we’re talking about lives here. We’re talking about people losing their lives in this event. Losing their homes and their entire belongings. When you think about it, it’s just really devastating,” Hallett said.

“We’re truly committed to our employees and truly committed to the community,” he said later during the phone conversation. “We want to help these employees and want to help these communities rebuild. We’re going to work with local officials to help people get re-established. This is a big comeback here.

“I want to tell you how proud I am of this organization and how proud I am of all of our employees throughout KAR, all of KAR, all of our business entities. It’s unbelievable the number of employees we’ve had say, ‘How can I help?’ These are employees not anywhere near Houston; employees that are scattered around the country and North America who are stepping up,” Hallett went on to say.

“That’s such a refreshing feeling and speaks to the culture at KAR,” he added.

KAR also is organizing programs so its employees can volunteer as well as donate financially.

“We want to take care of our own but also want to be able to help the community, as well,” Hallett said. “It makes me very proud as CEO of this company to know we have a culture that cares, not only cares about ourselves but cares about each other and our community. At the end of the day as tough as this is and difficult as it is, it’s going to make our company even stronger.”

Stronger plan at IAA

Also participating on the exclusive call was John Kett, who is chief executive officer and president of Insurance Auto Auctions. While IAA and its insurance company clients are still gathering information, Kett acknowledged the damage from Harvey is likely to surpass what the company handled during Hurricane Katrina and Superstorm Sandy.

“We’re really going to focus on the recovery,” Kett said. “At IAA, that’s really where we begin to help. We’re helping to get those vehicles off the streets and out of people’s yards and helping the insurance companies settle claims so they can help their policyholders begin to rebuild their lives. First and foremost, that’s what we provide in an event like this.”

Kett highlighted how IAA has modified its disaster response, using the experiences gained through Katrina, Sandy and Hurricane Matthew last fall. One component of the enhanced planning Kett explained is how IAA already identified key personnel who will be a part of handling tasks associated with natural disasters like hurricanes. He indicated members of that team headed for Texas even before Harvey finished dumping more than 50 inches of rain in some locations near Houston.

Kett noted that IAA also has improved its database of pre-screened tow truck operators as more than 1,000 units are set to pick up damaged vehicles in the region. He also touched on how IAA is making sure additional employees have temporary housing accommodations and plenty of fuel is available for equipment. It’s all part of mobilizing as much as possible for when the real heavy-lifting beings.

“Our approach is getting people there, getting equipment and getting capacity. We have a plan throughout the flood-prone areas to have additional real estate available. The size and scale of this were far beyond our normal planning horizon so we’re adding hundreds of acres as we speak,” Kett said.

“We’ve done a much better job of being ready. We worked through our plans during the non-catastrophe part of the year so when the storm does hit we can just put those plans into motion,” he continued.

And once IAA coordinates with insurance companies and salvage units are to be sold, the company already has plans in motion for those tasks, too.

“Once it’s time to begin to liquidate, another thing we bring to the table is we’ve got an extensive buyer base both domestically and internationally. We’ve got buyers in 110 countries. They like this type of inventory,” Kett said. “We’re already beginning to build marketing campaigns to make them aware so they’re ready when we’re able to begin selling these vehicles.”

Meeting needs of dealers & consignors

Not far off from his emphasis on the well-being of employees, Hallett also described how the entire KAR family of companies is looking to cater to the needs of dealers as well as consignors since Harvey is leaving the wholesale market in a unique position. For example, additional off-lease volume no longer is likely to be troublesome.

“This is a big opportunity for the remarketing customers. I think this is really going to help many these captive finance companies and leasing companies to be able to move some of these what I call young vehicles, 3-year-old, off-lease cars with 40,000 miles on them, and move them into the Houston market and have a great outlet for these vehicles,” Hallett said.

“I do believe we were concerned about some price erosion with oversupply of off-lease cars,” he continued. “I think there may even be an opportunity for the price to stabilize if not improve a little bit. That’s not just in the Texas market. That could affect prices across the country.”

While hundreds of KAR employees have been impacted by Harvey, Hallett wanted the entire industry to know KAR is “open for business.” The company indicated usual activities at ADESA, IAA and AFC operations in Texas and beyond are on schedule.

“We want our customers to know, both sellers and buyers, that we are absolutely going to do everything we can to support their selling and buying activities in every possible venue we have, including our physical auction footprint, our online nationwide private label business through OPENLANE and TradeRev that allows dealers to buy vehicles as well as AFC that provides the liquidity to buy these cars,” Hallett said.

“We’re not going to take advantage of the situation,” he added. “We’re not going to increase prices because of demand. We’re going to be very fair and understanding. We’re going to do business as usual without putting any extra burden on the buyers and sellers. We’re going to assist them in any way we can.”


Cox Automotive: Value of Harvey-damaged vehicles could reach nearly $5 billion

ATLANTA - 

Cox Automotive chief economist Jonathan Smoke on Friday estimated vehicle losses caused by Hurricane Harvey to come in between $2.7 billion and $4.9 billion in the Houston market alone.

While that projected figure includes dealerships’ used-vehicle inventory since those units are classified as vehicles in operation, Smoke indicated that loss figure could swell even more once the damage toll of new vehicles flooded at franchised dealerships is tabulated, too.

“Our hearts go out to the people of Houston and everyone impacted by the weather,” Smoke said to open a conference call Cox Automotive hosted for the media before delving into the loss estimates.

Smoke reiterated his previous assessment that 300,000 to 500,000 vehicles are likely damaged just in Houston; the seventh market largest by population and eighth largest for vehicles in operation consisting of 5.6 million units.

“We reviewed damages numbers in both (Hurricane) Katrina and (Superstorm) Sandy, which were the most comparable storms. We looked at the reporting of wide-spread flooding, which more resembled Katrina than Sandy. We took into account the high vehicle density and the dependency on vehicles in Houston,” Smoke said.

“Therefore we concluded that 500,000 (units) was entirely possible,” he continued. “If we’re correct, it would be the worst in terms of vehicle damage in history. Sandy impacted a bigger market, but the damage was not as severe, and the vehicle density was lower. Katrina had even more severe damage but in less populated, less vehicle dense and smaller area.”

With so much damage likely to be recorded, Smoke delved into the wholesale volume and price ramifications likely ahead.

The record-setting streak for the Manheim Used Vehicle Value Index already reached three months in a row when Cox Automotive shared the latest reading on Aug. 7.

The report indicated wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 0.75 percent month-over-month in July. This rise brought the index reading to 130.3, which was a record high for the third consecutive month and a 2.6-percent increase from a year ago.

The new high mark is more than 30 points above the index’s low point of 98.0 registered in December 2008.

To project what might happen, Smoke explained that he and the Cox Automotive team went back to Manheim data recorded at the time of both Katrina and Sandy.

“Basically it behaved as you would expect,” Smoke said. “If you take a step back and think, ‘OK the disaster does two things simultaneously.’ It decreases supply both in terms of what might have been on dealer lots in those locations, but also in terms of what would have been potential supply; cars that people might have been trading in or otherwise selling. And at the same time, it increases demand because people are needing to replace their vehicles in a very short period of time that otherwise would not have been remotely considering a vehicle purchase.

“What we’ve observed is you see a break in the pattern in terms if there had been continued growth in supply in the wholesale channel, sudden in the non-salvage you see flat or declining volumes for a couple of months. And related to that you typically see price strength, which makes complete sense. If there is tighter supply and stronger demand, that would amplify prices for a two to three months following the storm,” he continued.

“Wholesale prices have been really strong for the last three months,” Smoke went on to say. “The indicator in August was that trend was continuing so that means wholesale prices are very likely to be strong through the end of the year. Before I was sort of on the fence about whether or not that trend could continue indefinitely or whether it would reach a place and plateau. Now this effect on supply, it’s likely to remain at least as strong as we’ve been seeing through the end of the year.”

And as dealers look for inventory to meet rising consumer demand, the salvage space is likely to become even busier as Harvey-damaged units make their way into that wholesale segment.

“No question this is the biggest event in history in terms of the total volume of vehicles damaged,” Smoke said. “This is going to have lingering effects on the wholesale market for some period of time in terms of increased volumes that should be going to salvage and working their way through the system. But also in terms of the industry and consumers having to deal with their own due diligence in tracking vehicles that could have been damaged but didn’t get properly identified as damaged, and therefore, salvage.”

Editor’s note: Watch for a future report from AuSM that will highlight analysis from experts at Autotrader and Kelley Blue Book about how the damage from Hurricane Harvey will impact retail sales.


UPDATED: Harvey damage estimate approaches 1M vehicles

CARY, N.C. - 

As auctions in the region continue to modify their businesses in the wake of Hurricane Harvey, Black Book shared an estimation on Thursday morning that 500,000 to 1 million damaged vehicles will have to be replaced in the city of Houston and surrounding regions.

The National Weather Service said on Wednesday that the storm dumped 51.88 inches of rain in Cedar Bayou, Texas, establishing a new record within the continental U.S.

“Black Book expects the impact of the hurricane to have far-reaching effects, not only on Houston-area automotive businesses such as dealerships and wholesale auctions, but also throughout the South and Midwest,” the company said in a message to AuSM.

“In fact, the storm continues to actively affect parts of Louisiana, moving northeast toward Tennessee,” Black Book continued.

According to an announcement posted on LinkedIn by Casey Allison, who is operations manager at America’s Auto Auction Houston, both of the company’s facilities in the Bayou City cancelled their weekly sales.

“Taking into consideration the safety of our America’s Auto Auction employees and dealers, we have decided to cancel this week’s sales,” the announcement said. “Both North Houston and South Houston America’s Auto Auction locations will resume next week.

“Our main priority is to focus on the well-being of those effected by the hurricane,” the announcement added.

Earlier this week, Cox Automotive officials explained how its Manheim facilities in the region initially would be handling challenges presented by Harvey.

According to an updated message sent to AuSM late on Thursday afternoon, the company said no sales will be held at Manheim Houston, Manheim Texas Hobby and Manheim South Houston during the week of Sept. 4.

In Louisiana, the team at Lake Charles Auto Auction sustained the impact when Harvey circled back into the Gulf of Mexico and struck near the three-lane facility this week.

“We have experienced tremendous volumes of rain and experienced some flooding,” Lake Charles Auto Auction owner Matt Pedersen said in a release sent to AuSM, “but nothing like our neighbors in Texas.”

Lake Charles AA delayed its usual Wednesday sale with plans to host it on Friday. The auction serves dealers from Lake Charles, Baton Rouge, Lafayette and New Orleans and throughout Louisiana, and because of its proximity to southeast Texas, regularly welcomes dealers from Port Arthur, Beaumont and Houston, as well.

“This delay has given us time to begin the logistic preparations that will occur in coming weeks,” Pedersen said. “Vehicles will be moved across the country to begin replacing the thousands of vehicles flooded and destroyed throughout southeastern Texas and in pockets of Louisiana.”

As auctions and dealers look to reorganize, Black Book projected that the rental industry will be impacted first with the supply challenge as thousands of residents will need to find immediate replacement of personal transportation.

“This entails not only a large quantity, but also the right mix of vehicles. Work trucks and service vehicles will be in extremely high demand immediately,” Black Book said.

Black Book recapped that early estimates say more than 500 dealerships have been impacted in the greater Houston area alone.

“We believe there is enough new inventory in the U.S. to supply the consumers’ needs, and the timing may actually be good with new-car stores looking to deplete the 2017 models at model-year changeover,” Black Book said.

“New-vehicle SAAR that has been on a decline this year will see a lift in the coming months as residents start replacing their damaged vehicles,” editors continued.

Pedersen noted how commercial consignors likely will be steering volume toward the region to meet upcoming demand. He added that his operation in Lake Charles could be a prime place for dealers to find the inventory they need. recently broke ground on a new 6,500 square-foot office facility, which will open in next fall.

“We have heard from consignors around the tri-state area who want to be able to market their vehicles to dealers who must fill this important need quickly and efficiently,” Pedersen said. “The transportation companies like the logistics of our location to facilitate the movement of vehicles from around the state.

“Given the extent of this disaster,” Pedersen said, “we expect the need for slightly older and late-model used cars, trucks and SUVs to last for months. We will be doing all we can to help facilitate this recovery. The first thing people will need to begin the process of their homes and businesses back in order is a vehicle.”


RVI spots sequential price gain but softening year-over-year

STAMFORD, Conn. - 

Both portions of the RVI Group’s latest analysis of wholesale prices showed an upturn from June to July but softening versus year-ago figures.

The RVI Used Vehicle Price Index (Real) increased from June to July by 0.9 percent. However, when compared to July of 2016, prices were down by 3.8 percent.

The firm’s Used Vehicle Price Index (Nominal) also climbed by 0.9 percent in July when compared to June. When compared to July of last year, the index fell by 1.4 percent.

Analysts indicated used-vehicle prices for most segments are down on a year-over-year basis.

“Prices of full-size pickups increased slightly while prices of compact cars and full-size sedans show greater declines on a year-over-year basis than the rest of the market,” they said in the analysis.

RVI Group pegged the decline for compact cars and full-size sedans at 6.6 percent and 8.3 percent, respectively.

Also of note, the report noted a 5.4-percent year-over-year price decline for both midsize SUVs and small sedans.

Elsewhere in RVI Group’s latest analysis, the firm noted that on a year-over-year basis, new-vehicle prices ticked 0.12 percent higher in June.

Analysts added that new-vehicle transaction prices, on a seasonally adjusted basis decreased by 0.3 percent from May to June.

Finally, RVI Group pointed out that gas prices fell in July to $2.41 percent gallon from $2.46 per gallon in June. In July, gas prices fell by 1.9 percent from the previous month. On a year-over-year basis, prices were up by 2.9 percent.


Latest car depreciation figure doubles truck reading

LAWRENCEVILLE, Ga. - 

Along with the perspective of an auction owner from the West Coast, the latest Black Book Market Insights report took a look at comparing the weekly retention strength of cars and trucks dating back to the beginning of the year.

Editors found that cars have started to see larger depreciation since late spring after a stronger-than-expected tax season earlier in the year.

“Clean quality used vehicles with low mileage remain in demand, however as expected, the overall wholesale market continues to soften as we enter the last month of summer,” Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics, said in a news release.

According to volume-weighted data, Black Book indicated overall car segment values decreased by 0.57 percent last week, with six of nine segments depreciating more than half a percentage point.

Editors noted the midsize car and luxury car segments declined the most: 0.87 percent and 0.82 percent, respectively.

Turning back to volume-weighted information, Black Book determined the overall truck segment values — including pickups, SUVs and vans — softened by 0.28 percent last week. The report also mentioned only three truck segment received steeper weekly depreciation rates than that of the prior week.

Editors pointed out small pickups declined the most among truck segments, dropping by 0.71 percent. That segment also has the highest four-week depreciation rate with an average of 0.66 percent.

Moving along to what Black Book’s personnel in the lanes reported back to headquarters, an auction owner in Washington shared this assessment.

“The market has been really solid as of late. The slight shortage in certain sectors, combined with good retail activity has caused a bit of an uptick in auction activity. Across all segments, it seems that demand is really strong right now,” the owner said.

Two other auction reports originated out of the Midwest, with the first one coming out of Indiana.

“As has been the case all summer the consignment was down. The demand seems high so the prices are holding steady even with the huge truck rebates,” the lane watcher in the Hoosier State said.

Meanwhile, out of Ohio, Black Book’s representative stated, “Miscellaneous credit unions and dealer consignment made up a good portion of the auction with pretty good results. Dealers have a positive attitude about the late summer market conditions we are experiencing.”

Sliding to the South, the story coming out of Tennessee was, “Pickup trucks were strong today and it appeared that all of the vehicles floored under $10,000 did exceptionally well.”

Wrapping up in Florida, Black Book’s observer noted, “The finance lanes did well today but the dealer consigned vehicles had a tough time of it.”


Auctions & dealers scramble as Harvey soaks Texas

ATLANTA and SUGAR LAND, Texas - 

As torrential rain from Hurricane Harvey keeps falling, the National Automobile Dealers Association and Cox Automotive are taking actions in an effort to support member dealerships as well as Manheim facilities and personnel in the region.

While dealers like Wyatt Wainwright had to flee rising waters, officials from Manheim are modifying activities near Houston, emphasizing that safety of employees is paramount.

“In the wake of Hurricane Harvey, the entire Manheim Texas team is focused on ensuring the safety and well-being of our team members,” said Nick Boris, regional vice president for Manheim Central, in details obtained by AuSM on Monday afternoon.

“We have thankfully confirmed that the more than half of our Texas employees are accounted for, and we are continuing to diligently reach out to additional staff,” Boris continued. “Manheim’s corporate human resources team based in Atlanta is leading the effort to share relief resources and information with those affected by the storm, record-breaking flooding and loss of utilities.

“In addition, they are coordinating access for Manheim team members to the Cox Employee Relief Fund (available through Manheim’s parent company Cox Enterprises) which provides immediate financial assistance for unexpected needs resulting from a disaster,” Boris went on to say.

Below is an update from Manheim’s business operations at some of its sites in Texas:

• Converted Tuesday morning physical sale at Manheim Houston to a digital sale

• Converted Thursday physical sale at Manheim Texas Hobby to a digital sale

• Proceeding with Wednesday sale at Manheim San Antonio

• Still assessing operations at Manheim South Houston

• Manheim Dallas, Manheim Dallas-Fort Worth, Manheim El Paso and Manheim West Texas are not impacted at this time.

“We are proactively communicating with clients about the status of our operations and inventory, as well as their assets,” Boris said. “Currently, affected sites are offering digital sales to support our clients’ used-vehicle buying and selling needs, and we will keep them informed about future in-lane sales.” 

Undoubtedly dealers like Wainwright would like to get back to inventory acquisition. He is experiencing just how devastating the impacts this hurricane is leaving.

Wainwright is a resident of Sugar Land, Texas, about 20 miles southwest of Houston, as well as president of the Houston Automobile Dealers Association, which represents 175 dealerships. He learned in the middle of the night about orders to evacuate his home.

“We are struggling with the evacuation right now,” Wainwright said in a press release shared by NADA on Monday.

“There are large scale mandatory and voluntary evacuations going on right now. We don’t know where we can go to escape. I don’t know how I could drive three miles right now without getting blocked,” he added.

The NADA Foundation has mobilized its Emergency Relief Fund to assist dealership employees who have been impacted by personal property damage caused by the hurricane and flooding.

“There’s still 20 to 30 inches of rain that still has to pass through. We are not even near to the peak flooding yet,” Wainwright added. “A big issue we haven’t faced yet are rivers and streams that have yet to overflow. There is so much more of this to go which is the problem.” 

Dealership employees affected by the flooding . (Lost wages or commissions are not eligible for reimbursement from the fund.)

The NADA Foundation is also calling on dealers and dealer association groups to its Emergency Relief Fund. Checks can be made payable to Emergency Relief Fund and sent to:

NADA Foundation
8400 Westpark Drive
MS 7
Tysons, Va. 22102.

For more information, call (703) 821-7102.

Cox Automotive is also committed to helping the American Red Cross with disaster relief efforts. 

In addition to the company’s corporate partnership, charitable banner ad campaigns are running on Autotrader, Kelley Blue Book and Manheim.com.  Red Cross ads click directly to the Cox Automotive partnership donation site at .

State and federal officials continue to deploy all resources available to help Texas residents impacted by this storm.

On Monday, Gov. Greg Abbott announced he has activated the entire Texas National Guard in response to Hurricane Harvey, bringing the total number of deployed guardsman to roughly 12,000. These National Guardsman will assist in the ongoing search and rescue effort for any Texans in immediate danger, and will be heavily involved in the extensive recovery effort in the aftermath of the storm.

“It is imperative that we do everything possible to protect the lives and safety of people across the state of Texas as we continue to face the aftermath of this storm,” Abbott said. “The Texas National Guard is working closely with FEMA and federal troops to respond urgently to the growing needs of Texans who have fallen victim to Hurricane Harvey, and the activation of the entire guard will assist in the efforts already underway. I would like to thank FEMA Administrator Brock Long, as well as all our brave first responders for their hard work in helping those impacted by this terrible storm.”

FEMA Administrator Brock Long added, “While this is still a dangerous situation with a long response effort ahead, the state and people of Texas are resilient. FEMA was here before the storm hit, and we will be here as long as needed, actively coordinating the full resources of the federal government, to support Gov. Abbott and the state.”


2 ServNet auctions implement DealShield; 2 more on the way

FRANKLIN, Tenn.  - 

Two ServNet member auctions have implemented the Deal Shield buyback guarantee assurance product from Cox Automotive, and two more are set to utilize the program, as well.

That’s according to a news release from ServNet, which said BSC America’s Bel Air Auto Auction and Tallahassee Auto Auction have already begun using the DealShield program.

Up next are Missouri Auto Auction and Houston Auto Auction. DealShield’s parent company, Cox Automotive, is also the parent company of the Manheim auction chain.

“DealShield essentially protects a dealer's auction vehicle purchase, adding an extra level of protection against risk and market fluctuation,” BSC America president R. Charles Nichols said in the release. “We’ve implemented DealShield with excellent results at both Bel Air and Tallahassee Auto Auctions, and dealers have embraced it as yet another tool that gives them even more confidence in the vehicles they buy at our auctions,” he said.

The protection on the DealShield DS360 guarantee is good for 21 days and 360 miles.

ServNet president Kevin Brown, an owner/general manager at Missouri Auto Auction, said the group’s members are among the early crowd of independents to utilize DealShield.

“This move is a further indication that ServNet Auctions are constantly seeking and embracing ways to help its customers to purchase vehicles in our auction lanes with less risk and more flexibility,” Brown said. “DealShield essentially allows the dealer more control in the marketplace, giving the customer, rather than the market, the edge in the auction transaction.”


ADESA Kansas City raises over $50K for children’s hospital

CARMEL, Ind. - 

ADESA announced Thursday that its Kansas City auction recently raised a total of $50,457 for a local children’s hospital.

The auction held a special sale and live charity auction event named  “Cars-n-Kids” for Children’s Mercy Kansas City.

In addition to donating $150 for every car sold during the sale, ADESA Kansas City sold event T-shirts, hosted a shrimp boil dinner, and auctioned items such as end zone pylons autographed by Kansas City Chiefs players.

“As a not-for-profit children’s hospital, Children’s Mercy is so appreciative of community partners like ADESA Kansas City, who do more to make a difference for our patients and families,” Megan Stock, assistant director of philanthropic community engagement and events, said in a news release. “We are grateful to everyone involved with the Cars-n-Kids charity car auction for making it such a successful fundraiser.”

ADESA said auction general manager Kevin Rhoads and his team chose to help Children’s Mercy this year because the hospital has helped several auction employees and their families.

“When we were choosing a charity to sponsor, Children’s Mercy immediately came to mind,” Rhoads said. “The event was a huge success, with dealers raving about the shrimp boil and the charity auction. But the best part is we raised over $50,000 for Children’s Mercy.”


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