United Road purchased by Carlyle Group

AuSM Staff

Vehicle transport and logistics provider United Road has been acquired by The Carlyle Group. Terms of Carlyle’s purchase of United Road from Charlesbank Capital Partners were not disclosed. The Carlyle Equity Opportunity Fund II provided the equity for the deal, which was announced Tuesday. Kathleen McCann will... Read More

AuSM Staff

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... Read More

Nick Zulovich, Staff Writer

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... Read More

Nick Zulovich, Staff Writer

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... Read More

Nick Zulovich, Staff Writer

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... Read More

AuSM Staff

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... Read More

Hertz names new CMO, chief HR officer

AuSM Staff

Hertz Global Holdings is bringing aboard a new chief marketing officer and a new chief human resources officer. Hertz said Wednesday that Jodi Allen will join the company as executive vice president and CMO on Oct. 2; Murali Kuppuswamy becomes executive vice president and chief human resources officer on Sept.... Read More

AuSM Staff

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... Read More

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