For Immediate Release
Vice President, Marketing
Insurance Auto Auctions Opens Facility in Davenport, Iowa
Marks the 23rd Location in IAA’s Midwest Region
Westchester, Ill. — Insurance Auto Auctions, Inc., the leading hybrid model salvage auto auction company and a wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced the opening of its Davenport, Iowa, facility. This is a strategic location in IAA’s Midwest region with the ability to enhance IAA’s services in the Quad Cities area as well as northwestern Illinois and eastern Iowa. This marks the 23rd location in IAA’s Midwest region. The first auction is set to take place on Monday, June 28, 2010.
“We continue to open branch locations that make good business sense for our customers to sell, bid on and buy salvage vehicles either in-person or live online,” said Tom O’Brien, CEO. “We continue to expand our facility coverage lead in the industry, providing more cost-effective options for our buyers. As part of our ongoing service-driven strategy, our new Davenport facility will enable us to further reduce transportation costs and cycle times for our vehicle provider customers as well,” O’Brien stated.
IAA’s mature global buyer base, which consists of automotive body shops, rebuilders, used car dealers, automotive wholesalers, exporters, dismantlers, recyclers, brokers and, where allowed, non-licensed (public) buyers, now have even more choices when it comes to the number of salvage vehicles to bid on and buy. IAA auction preview dates and times vary from facility to facility. For more information, go to IAA’s Branch Information page at www.iaai.com.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions, Inc. (IAAI), a wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), provides the advantage in salvage auto auctions with its Hybrid Auction Model combining live and live-online auctions, North America’s broadest salvage auction facility footprint, a strong global buyer base and high vehicle returns. IAA’s more than 150 facilities across the United States and Canada provide vehicle suppliers and buyers with powerful solutions to process and acquire total-loss, recovered-theft, fleet lease, donation and rental vehicles. The IAA Hybrid Auction Model, including live, live-online, and proxy bidding, united with its mature global buyer base and diverse inventory, produces some of the industry’s highest returns for vehicle providers. With 28 years in the industry, IAA holds a comprehensive warehouse of salvage auction data. For more information regarding IAA, visit our website at www.iaai.com.