KAR Auction Services (NYSE:KAR) Downgraded to “Hold” at Zacks Investment Research

KAR Auction Services (NYSE:KAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana.

Read More

Read More

Ghana: Customs Warn Public Against Online Auctions

The Principal Revenue Officer in Charge of Customs Auctions, Mr. Prince Akwaboah has hinted that the Customs Division of the Ghana Revenue Authority is considering online means of auctioning general goods and vehicles in order to broaden its reach.

The head of auctions of Customs revealed that, the procurement plans are advanced to select the technology partner for that service.

Mr. Akwaboah, however warned that until a formal announcement is issued by the Ghana Revenue Authority, the Authority does not conduct online auctions and the public should treat any current advertisement of that nature in the name of the GRA as fraudulent.

“I would like to caution the public that we have not started online auctions yet,” he stressed.

Speaking on Eye on Port, the Principal Revenue Officer in Charge of Customs Auctions disclosed that reports coming to the attention of the Division is that some unknown individuals or syndicates

Read More

Read More

the Austin Metro at 40

History hasn’t been particularly kind to the Austin Metro, although this was the most critical British Leyland products of its era. Not least, it provided the transport for Margaret Thatcher to the 1980 International Motor Show in Brimingham, where it proved both a stellar attraction and the harbinger of a happier future for Leyland.

The name Metro was chosen from a ballot of the factory workers, and the early versions bore the ‘Mini’ prefix; partially through an agreement with Metro-Cammell but also to evoke an association with the classic Alec Issigonis design. 

Management informed the Launch Planning and Special Events team of the Austin-Morris division that the Metro was to be its direct replacement. In reality, the 1959 vehicle that virtually redefined mass-motoring would be sold until 2000 – alongside the car it was supposed to replace.

 BL let it be known that the development costs of its new hatchback

Read More

Read More

Customs warn public against online auctions

Thu, 1 Oct 2020
Source: Eye on Port

The Principal Revenue Officer in Charge of Customs Auctions, Mr. Prince Akwaboah has hinted that the Customs Division of the Ghana Revenue Authority is considering online means of auctioning general goods and vehicles in order to broaden its reach.

The head of auctions of Customs revealed that, the procurement plans are advanced to select the technology partner for that service.

Mr. Akwaboah, however warned that until a formal announcement is issued by the Ghana Revenue Authority, the Authority does not conduct online auctions and the public should treat any current advertisement of that nature in the name of the GRA as fraudulent.

“I would like to caution the public that we have not started online auctions yet,” he stressed.

Speaking on Eye on Port, the Principal Revenue Officer in Charge of Customs Auctions disclosed that reports coming to the attention of the

Read More

Read More

Manheim announces Marshall ‘Mega Week’ used car auctions event

Manheim will auction 1,000 used cars across five locations as part of a Marshall Motor Group mega-event running from October 12 to 16.

The five-day event will feature exclusive content from the top AM100 car retail group, with virtual sales taking place across Manheim sites in Bristol, Northampton, Wimbledon, Colchester and Mansfield, using the Simulcast online platform.

Manheim said it would normally host a series of physical sales for an event like this across the week, but current Government restrictions due to the ongoing coronavirus outbreak have resulted in the event taking place virtually this year.

Jon Head, commercial director at Marshall Motor Group, said: “We usually hold mega-week events twice a year at Manheim. We planned to hold our first event in April but had to quickly change our plans due to the impact of the pandemic.

“We’re delighted to now put on this event and confident it will

Read More

Read More

These 7 oddball classics sure to brighten up your garage



a van parked on the side of a road


© Provided by Hagerty



RM Sotheby’s

October 2020 is going to be a surprisingly busy month for collector car auctions, and that’s true on both sides of the Atlantic. There are no fewer than 11 live auctions on our calendar that we’ll be watching and, as usual, there are plenty of rare and unusual rides up for grabs this month. RM’s Elkhart sale in particular has some weird ones in the mix, but we narrowed it down to seven of the most unusual cars crossing the block over the next four weeks.



a truck that is driving down the road: Bonhams


© Provided by Hagerty
Bonhams

Bonhams, Lot 19

Estimate:  €170,000–€250,000 ($200,000–$290,000)

Here in the States we dial 911 to summon the emergency services, but in some countries the police have an entirely different association with those three digits. From the days of the 356 all the way up to today, various European police departments have used Porsches

Read More

Read More

These 4 car companies kept going bankrupt over and over

Running a car company is no easy feat. At the beginning of the century, automakers were hardly more than small shops who had modified conventional buggies with powerplants and now called them “motorcars.”

However, as the years progressed and customers wanted more from their vehicles, problems started to arise.

The problems went double for automakers building race cars — there is, after all, no money in racing unless you’re selling street cars, too, and street cars mean bigger teams of people and huge facilities designed for mass-production.

And what happens when your company’s co-founders no longer want to build cars together? Then you’re left all on your own, trying to make things work, as the entire world seems to be falling in on you.

OK, so that might sound a bit melodramatic, but it was definitely a reality for these automakers, which have survived the test of time despite the

Read More

Read More

Cruise The Water In A 1965 AquaCraft 17-Foot Boat



a boat sitting on top of a bed


© Provided by Motorious


What a beauty!

While we’re normally admiring classic cars and motorcycles, we do love a nice vintage ski and drag boat like this 1965 AquaCraft. At 17 feet long, this isn’t too much for your pickup truck to handle, so you can easily take it out for weekend fun and maybe impress everyone with the vintage design. This boat is available thanks to Lucky Collector Car Auctions.

Instead of some rusty, barnacle-laden craft, this AquaCraft looks really good. In fact, the thing is in museum-quality condition, so you can show it off with genuine pride. You’ll notice the chrome is sparkling while the cream and teal paint has a deep shine. While the exposed engine isn’t completely dressed up, the air cleaner covers are a nice chrome and everything is nice and clean.

Speaking of the engine, it’s a thumping Chevy 283ci V8 from 1959 that’s

Read More

Read More

Miata-Based Custom Roadster Lives Up To Its Swift Name



a car parked in a parking lot


© Provided by Motorious


How a scale model turned into a life-sized sports car.

We’ve probably all had visions in our head for what we think might be the perfect car, but sadly most of these cars remained locked away in our imagination. For Jim Simpson, that wasn’t enough, so he began making kit cars that show his own interpretation of some of the most iconic classic European sports ever made, and one of those is this Simpson Design Swift, which will be up for grabs this weekend through Lucky Collector Car Auctions.

The idea for the Swift was inspired by the design of the Lotus XI, but as you can tell, this isn’t just another recreation. The styling is completely unique, and the process for making the Swift a reality is as interesting as the car itself. Simpson started with an idea that he turned into a toy-sized 1/24th

Read More

Read More

1 2 3 7