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CarMax Reports Improved Results

CarMax Inc. reported record results for the quarter ended Nov. 30.

Net sales and operating revenues increased 15.8 percent to $3.41 billion.

Used unit sales in comparable stores increased 7.4 percent.

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Ally Gets Another Letter from Feds

Ally Financial Inc. recently received a subpoena from the DOJ requesting information in connection with its investigation related to subprime automotive finance and related securitization activities.

Other financial institutions have disclosed receiving similar requests earlier this year.

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Bill Broadens Potential Salvage Buyers

Insurance Auto Auctions Inc. announced that Ohio House Bill 468 has become law, and will become effective on the 91st day after the act is filed with the Secretary of State. 

IAA and other industry leaders worked toward this result, one aspect of which is the repeal of the requirement for a buyer identification card, a state-issued bidding license for the purchase of salvage vehicles at salvage auctions in the state of Ohio.

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ADESA Promotes Fleet-Lease Manager

ADESA announced that Ronna Webb was named fleet/lease manager at ADESA Dallas. In this new role, Webb will be responsible for start-to-finish processing of a high-volume commercial portfolio.

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