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[10] [11] In 2022, Carvana acquired ADESA, the nation’s second-largest wholesale auto auction chain, for $2.2 billion to increase its real estate footprint. [12] In response to the COVID-19 pandemic, Carvana introduced touchless delivery and pick-up in March 2020. [13]
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Copart, Inc. is a global provider of online vehicle auction and remarketing services to automotive resellers such as insurance, rental car, fleet and finance companies in 11 countries; the US, Canada, the UK, Germany, Ireland, Brazil, Spain, UAE, Bahrain, Oman and Finland.
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Prices of vehicles sold at dealer auctions tend to be lower than those advertised on any dealer's lot. Sellers forgo a potentially higher sticker price to take their inventory to a dealer auction where it will be auctioned off for less than retail for a number of reasons. Maintaining aging inventory costs dealers both money and reputation.
Manheim, Inc. is an automobile auction company. As a subsidiary of Cox Automotive, a subsidiary of privately owned Cox Enterprises, Inc. based in Atlanta, Georgia, Manheim's primary business is wholesaling vehicles via a bidding process using traditional and online formats.
Vehicle remarketing is the controlled disposal of fleet and leasing vehicles that have reached the end of their fixed term.. In vehicle leasing, after the lease expires, the lessee either returns the vehicle to the supplier or buys it.