Market Overview

Insurance Auto Auctions Opens Two Facilities in Texas

WESTCHESTER, Ill.--(BUSINESS WIRE)--

Insurance Auto Auctions, Inc. (IAA) the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced two new locations in Texas, including McAllen and Lubbock, respectively, increasing its footprint to a total of 12 IAA auction locations in the state. Both locations are critical to IAA's continued expansion in giving providers more locations to sell their vehicles and global buyers more cars to bid on and win.

“IAA has over 160 locations backed with the best service-minded team in the industry,” said Tom O'Brien, chief executive officer at Insurance Auto Auctions, Inc. “Our continued expansion is a result of increased demand for our inventory and to provide greater convenience for both our buyers and sellers. Our goal is to provide the best inventory and selection to our global buyers in over 110 countries.”

McAllen, Texas is located at the southern tip known as the Rio Grande Valley, and is minutes away from the U.S.-Mexico Border and one hour away from the Gulf Coast. Lubbock is located in the northwestern part of the state serving much of West Texas. In addition to the primary storage area at these locations, IAA has dedicated additional acres to handle catastrophe (CAT) situations for these regions.

Lubbock auction information: Bi-Weekly Auctions take place on Tuesdays at 9:30 a.m., located at 5311 N. CR 2000 in Lubbock. (806) 747-5458.

McAllen auction information: Bi-Weekly Auctions take place on Tuesdays at 10:00 a.m., located at 900 N. Hutto Road in Donna. (956) 464-8393.

IAA buyers have access via their mobile phones and can bid on up to eight auctions at a time. The IAA Auction Center offers auctions in six languages, including: English, Spanish, Mandarin Chinese, French, Polish and Russian. A portion of IAA's vehicles are sold and exported to foreign countries, which further strengthens its philosophy of choice and flexibility with “anywhere” access and mobile technology.

IAA follows strict regulatory compliance at the federal and state levels and is well versed in all state titling laws as well as buyer and seller licensing.

About Insurance Auto Auctions, Inc.

Insurance Auto Auctions is the leading live and live-online salvage vehicle auction company and a wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR). Headquartered in Westchester, Illinois, IAA has over 160 auction facilities throughout North America offering towing, financing and titling services. With the most auction facilities in North America, IAA provides registered buyers from around the globe with millions of opportunities to bid on and purchase donated and salvaged vehicles. Since 1982, IAA has sold millions of vehicles through its weekly auctions for insurance companies, fleet and rental companies, financing companies, charity organizations and the general public. IAA also leverages its business model to assist charitable organizations in the US through its One Car One Difference® campaign. To date IAA has provided millions of dollars in additional funding to charities by assisting in the processing of donated vehicles. Learn how we are making a difference by visiting www.1car1difference.com. With a talented team of over 2,000 employees, IAA is committed to providing customers with the highest level of services in the salvage auto industry. Go to www.IAA-Auctions.com to learn more, and follow IAA on Facebook and Twitter.

Insurance Auto Auctions, Inc.
Jeanene O'Brien, 708-492-7328
Vice President
www.iaai.com

 

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