Preferred Warranties announced a series of enhancements to its vehicle protection plans lineup, including expanded terms and coverage for rideshare customers.
Executives said a wave of acquisitions and new offerings prompted the name change, saying dealers and other automotive industry users are increasingly demanding ‘global’ solutions.
KAR Auction Services will spend $3.75 million to build a new headquarters for its TradeRev division in downtown Indianapolis’ Century building, the former home of Indiana’s first automaker.
Scott Drehs has been named ADESA’s first-ever leader of major dealer accounts after serving as regional vice president of operations for AFC, another KAR Auction Services brand.
Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
KAR Auction Services has fully integrated and officially rebranded the recently acquired CarsOnTheWeb as ADESA Europe, serving dealers, wholesalers, manufacturers, and fleets in more than 50 countries.
Allison Marley has joined Preferred Warranties Inc. as the KAR Auction Services division’s new vice president of sales.
Depreciation through the first half of 2018 stood at 13.7%, much lower than the 16.3% rate recorded in the year-ago period. Analysts say upstream remarketing has kept values strong despite the tidal wave of off-lease vehicles that returned to market during the period.
Edmund Field, who joined KAR earlier this year as director of new product development, now serves as president of the company's Preferred Warranties business unit.
The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.
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