Used Car News 07/11/22

UCN 7/11/2022

Used Car News National Quality Dealer Award Sealed with a Kiss

By Jeffrey Bellant

IN THIS ISSUE:

Rush - Dated Material

• Women in Auto • Electric Vehicles • Transparent Marketing

LAS VEGAS – Texas dealer Tommy Gregory, owner of Abilene Car Sales, won the 2022 National Quality Dealer of the Year Award.

He was honored during the closing of the National Independent Automobile Dealers Association Convention & Expo here in June.

Gregory, one of 12 state nominees, accepted the award with his wife, Wanda, by his side. The couple has been married for 43 years and Gregory talked about his wife in his acceptance speech.

“Somehow, I have the right one,” he said. “I would not be here today without her standing with me every inch of the way through this whole endeavor – the hills and valleys, peaks and lows, broke and rich.”

Gregory thanked his wife for giving him three “awesome children” who are all in the business with him.

“This business would not be what it is without eveybody’s effort,” Gregory said. “I want to thank our state association, they’re awesome.”

He thanked state association executive Jeff Martin, along with fellow Texas dealer Scott Allen, who is a past National Quality Dealer and current NIADA president.

“I just want to say thank you,” he said.

Gregory got his first job pumping gas at his uncle’s Exxon gas station, until he was old enough to work in his father’s auto repair business.

In high school, a work study program allowed him to get his Automotive Service Association certification to become a master technician.

After he got married in 1979, he got into the oil business until the bust in 1986.

Looking for other ways to support his family, Gregory began selling cars and trucks.

In 1991, he and his wife emptied their savings account of $2,200. He opened Abilene Used Car Sales with his father, R.D. He built that business into a thriving used-car dealership with a recon facility and a related finance company (RFC).

Like other National Quality Dealers, Gregory participates in a lot of community service, helping children and giving away vehicles to those in need.

He supports back-to-school programs and provides backpacks for children. Once winter arrives, he

provides coats for kids.

Gregory also contributes time and money to the local Boy’s Ranch and other charitable causes.

In his interview for the competition, he told the interviewer that his involvement in the Texas IADA has been one of the keys to his success.

“They’re there to help,” he said.

Gregory is the fifth dealer from Texas to win the coveted national award. Robert Milligan (2004), Baldomero Trevino (2008) and Scott Allen (2011) were at the convention, while 2017 winner Robert Blankenship was not on hand.

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NIADA Convention 7/11/2022

Top Industry Women Discuss Challenges, Successes

Photo by Jeffrey Bellant

WONDER WOMEN: NIADA hosted a panel, “Women Driving Change in the Auto Industry” at its annual convention in Las Vegas last month Speakers included (from left) Kendra Brown, Candice Price, Brenna Stansberry, Ejola Cook, Tina Sink and moderator Melanie Wilson (standing).

By Jeffrey Bellant

LAS VEGAS –Thick skin, networking and helping out other women were some of the key ideas discussed during the panel “Women Driving Change in the Auto Industry,” here at the NIADA Convention & Expo.

Melanie Wilson, NIADA’s CFO, moderated the panel, which included auto leaders from across the country.

Brenna Stansberry, president of Park Marina Motors in Redding, Calif., didn’t plan on being a dealer.

“I started with a PhD,” she said. “If you guys don’t know what that is, it’s ‘papa has a dealership.’”

Stansberry said the “last thing she wanted to do” was to work in the dealership.

“I actually joined the Navy to get away from that dealership,” she said.

Eventually, she couldn’t resist and took over the business when her father retired.

“Now that I run the dealership day to day, it is my passion,” she said, “I love our industry and I love the direction our industry is going.”

Candice Price, owner of Home Team Auto Sales, is the only licensed black woman dealer in Nebraska.

She said she’s always been a sales person. Price wanted to get into real estate but didn’t have the capital. So,

she got into the car business, which is “definitely where my passion is and where my future is.”

Price said women in business typically have more obstacles than men.

Being a black woman added another level of challenges.

Kendra Brown and her husband own Brown Family Auto Sales in Houston, Texas.

Her father started a buy-here, payhere dealership the year she was born. When he retired he helped her start a car business. She loves it, despite the ups and downs. During the pandemic Brown focused on networking, joining dealer associations and improving the business.

Ejola Cook, executive director, Florida Independent Automobile Dealers Association, started out as an attorney. She met the owner of Off Lease Cars, a large dealership in Florida. He asked her for help for her legal expertise and eventually she became chief administrative officer and senior vice president of the dealership. This year, the Florida IADA needed a new executive director, so she moved into that role.

Tina Sink is finance manager for Cars to Go in Lafayette, Ind., a leasehere, pay-here dealership started with her husband.

Panelists shared the obstacles they’ve encountered in business.

Cook said when she was the only female executive in leadership, she once made a suggestion that everyone ignored. Then a man would make the same suggestion and it would get implemented.

It irritated her at first.

“But afterward, I thought, ‘I don’t care…because it was a problem we’re having and that’s the solution I needed and they’re going to do it,’” Cook said. “So, I didn’t take those things personally.”

Price has a business partner, Ron Devers, so she sees the difference between men and women in the industry.

“Women in business always seem to have problems with access to capital, access to resources, mentorship, coaching and sponsors,” she said.

As someone who didn’t come from a family business, she wants to help others with the same challenges.

“So, I’m doing my best to lead the way to make things easier as others come along,” Price said. “They can ask questions and I share information to help them avoid some of the hurdles I ran into.”

The panelists offered tips on what is needed to thrive in the business.

Stansberry said making connections and relationships is critical to success.

“Perseverance and drive,” Sink

said. “If you’re not willing to ask for it, you’re not going to get it.”

Stansberry added a similar quality.

“You need thick skin in this business,” she said.

Brown said being a woman, parent and working full-time in the auto industry forced her to be creative. “(It’s) taught me – out of necessity – how to be innovative with my time, how I delegate and allocate my time and my energy.”

Cook said when she was a dealer, she recruited women from outside the industry to find the best people in general.

Also, offering benefits for mothers, such as flexible scheduling, can really help.

“Utilize who you are and build a team around you,” Cook said. “Seek out mentors. All my mentors were men, but I learned so much from them.”

Price credits her mentors for helping her, especially during the tough times.

“Everyone should have a mentor, and everyone should be a mentor,” Price said.

Stansberry, who serves as an NIADA board member, said women can’t sit back and just watch.

“If you want to make change, no matter where it is in your life, you have to get involved,” she said.

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Electric Vehicles 7/11/2022

By Jeffrey Bellant

LAS VEGAS – While the electric vehicle market grows year-overyear, the challenges ahead remain – especially on the used side.

Cox Automotive’s Stephanie Valdez Streaty, director of mobility R&D, discussed these issues during the National Independent Automobile Dealer Association’s Convention & Expo.

Although all the focus is on new EV sales, there are opportunities for used EVs in the future.

Mass adoption of EVs in the first place can help used sales down the line.

Streaty, who worked with Nissan over a decade ago when it launched the Leaf EV, talked about why there wasn’t mass adoption then and why now.

“What’s different now?” she asked.

“I think about the perfect storm, we now have environmental commitments and regulations. The U.S. rejoined the Paris agreement and that was a catalyst for having a lot of

companies establish carbon-neutral goals.”

She added that if you tally it up, there is over “a half a trillion dollars” in commitments to electrification over the next four to five years.

“I think this shift is going forward,” Streaty said.

She believes incentives are needed to decrease the EV price, in the wake of the Build Back Better bill failing.

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1 The tradename Subaru Motors Finance (SMF) and the Subaru logo are owned by Subaru of America, Inc. (Subaru) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase.

2 The tradename Maserati Capital USA and the Maserati logo are owned by Maserati North America, Inc. (Maserati) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase.

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Neither JPMorgan Chase Bank, N.A. nor any of its affiliates are affiliated with ADESA, Inc. or Manheim, Inc. Each auction is solely responsible for their website content, sales events, promotions, fulfillment and operation of the auction.

Dealer communication only; not intended for retail purchaser. ©2021 JPMorgan Chase Bank, N.A. Member FDIC

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“There has to be better options,” Streaty said. “To have mass adoption, there has to be an EV at every price point.

“So, I think used EVs are going to be a great alternative.”

Based on Kelley Blue Book data, buying a used EV can help consumers save about $20,000.

Evaluating a used EV will be different than a used ICE because of the battery.

“Mileage isn’t really the key criterion for the health of an EV vehicle,” Streaty said. “It’s all about the battery health.”

Manheim is working to understand battery health and improve trust in that area, she said.

A dealer in Streaty’s session said the big challenge for independents is the lack of incentives on the used side.

Streaty said the Build Back Better bill, though it failed to pass, did have incentives of up to $4,000 for used EV sales.

She agreed that some sort of incentive on used EVs can help with adoption overall.

Trends show consumers are now starting to consider EVs. “The firm EY, a few weeks ago, released research that said 52% of people they surveyed said their next vehicle would be an EV,” Streaty said. “And we’re starting to see that.”

She added that projections showed that by 2030, the EV market share will grow sevenfold. Last year’s 1.5 million sales were a record, Streaty said, with about 1/3 of those being “pure battery electric vehicles (BEVs).”

In Q1 2022, there have been 175,000 BEVs sold, she said, double the previous quarter.

Challenges to EV growth continued to be infrastructure and raw materials, like lithium.

“That’s going to be critical to watch,” Streaty said. “Right now, about 80% of the EV batteries are made in China.”

Another problem is that not every EV can use every charging station.

Legislation is being discussed to make these stations able to serve all variations of EVs. “There’s a lot of money and grants being (dedicated) to building out range,” Streaty said. “So, I think we’re going to continue to see battery range increase. Lucid already has one that has a 500-mile range.”

The current average EV range has gone up to 257 miles.

She added that an average consumer drives less than 50 miles per day, which is a good fact for dealers to know when marketing EVs.

Volume 28 | No.5 Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at : Used Car News P.O. Box 80800 St. Clair Shores, MI 48080 Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 www.usedcarnews.com Charles M. Thomas Founder (1947-2002) Lynda R. Thomas, Publisher Emeritus Colleen Fitzgerald, Publisher Editorial: Jeffrey Bellant, Managing Editor Ed Fitzgerald, Staff Writer Advertising: Shannon Colby, Account Manager Tony Moorby Columnist: Circulation: subs@usedcarnews.com Production: Tom Savage, Production Manager Cee Lippens, Web Master Used Car News is published every third week.

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NIADA Convention 7/11/2022

Transparency in F&I Builds Trust with Customers

By Jeffrey Bellant

LAS VEGAS – Independent dealerships must make transparency a priority in today’s business climate, but defining it and achieving transparency remains a challenge.

“Exactly what does transparency mean?” asked Jeremy Beck, GWC Warranty’s vice president of sales and operations, who discussed the topic at the National Independent Automobile Dealers Association’s Convention & Expo here in June.

“What does it mean to what we do every single day, how we sell cars, how we represent ourselves and how we market ourselves to our consumers,” Beck said.

Dealers need to define transparency and make it a part of the culture.

“I think every single one of you would agree that transparency from the simplest foundation means giv-

JEREMY BECK

ing car buyers the information that they want and need, when and how they want it,” Beck said.

Dealers must realize that consumers will find the information out, whether the dealer gives it to them or not.

“Who would you rather control

the narrative, you or someone you don’t know?” Beck said.

The pandemic did a lot of damage to the economy and businesses, but it has also had a positive impact on the auto industry, he said.

“I’m saying that because our customers have been asking for transparency for years,” he said. “We’ve just avoided the conversation.”

He cited the 2022 Capital One Car Buying Outlook, which showed that 76% of dealers surveyed said they were more transparent than prepandemic.

When they asked consumers the exact same question, there was a 36% decline, Beck said.

“Meaning, there is a massive disconnect,” he said. “Consumers think we’re going in the opposite direction.”

Since customers can now find all the information online, dealers should make every effort to provide

that information themselves.

“I also think you should be transparent with positive and, what I call ‘counter-positive’ information,” Beck said. “When what you provide them is similar to what they learn on their own, it automatically begins to build trust with your consumers.

“The more trust you build, the more they say ‘yes,’” Beck said. “The more they say ‘yes,’ interestingly enough, the more profits you make.”

It’s about increasing confidence and comfort. He calls it transferring equity to the consumer.

“Every time you transfer that to the consumers, they’ll be able to enjoy that experience more, trust you more, like you more and have a positive buying experience,” Beck said.

Dealers might not like Carvana and Vroom, but if customers are researching those sites, then independents should figure out what those Continued on page 6

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News 7/11/2022

Transparency chain sites are doing that independents also need to be doing, Beck said.

If independents secret-shop a Carvana or Vroom, they might understand the experience regular consumers are having.

Beck said a dealership doesn’t have to go fully digital to provide a transparent process.

The Capital One survey shows that while consumers shopped an average of seven dealerships’ websites online, they still shopped physical dealerships.

“Anyone want to take a guess? They visited an average of 3.4 dealerships, a 2 percentage point increase from a year ago,” he said. “What does that tell me? It tells me consumers still want to go to visit stores in person.

They still want that human interaction and shake their hand.”

In other words, consumers are visiting more physical stores, not fewer.

While dealerships – through photos and condition descriptions – are normally transparent on the front end, they might not be doing it on the F& I side.

“Do you have an F&I page on your website?” he said. “Be more robust.”

When dealers during the pandemic had to tell customers the price of a vehicle service contract over the phone, there is a 30% rise in attachment rates and penetration levels.

“You’re selling 30% more service contracts and F&I products than what you did pre-pandemic when you didn’t sell any of that until they came into the dealership,” Beck said.

So, if a consumer asks for information, give it to them when and where they ask for it, he said.

Provide that information online now, rather than waiting until they come in.

So, what to do?

“Number one, provide all thirdparty reference material, both online and off-site, with links, for the vehicle’s reliability and durability,” Beck said.

Since customers are already doing that themselves, if dealers do it, too, it builds trust and makes them more comfortable.

Beck promises that putting those third-party links and giving info to consumers will provide the dealership with its highest click rates.

“Because consumers want that third-party information,” he said.

“Provide brochures, sales sheets and other aids to explain optional F&I products.

“Post the prices for optional F&I

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– Continued from page 5 products and services, if possible.”

Beck said people say it’s impossible because there are so many options, but there is still something dealers can do.

“Every single one of your F&I providers has brochures, visual aids and videos on the value of a vehicle service contract,” Beck said. “If those aren’t on your website, you’re not being transparent.”

If dealers force the consumer to ask or search for that info, they are doing their consumers and themselves a disservice, Beck said.

In terms of F&I prices, dealers can post suggested prices of normal levels of coverage – 3 year/36 months, 4 years/48 months, for example – and post those prices, he said.

Dealers can post a disclaimer that states the actual price will vary based on term, mileage and coverage selected during the finalization of the sale.

He also advises dealers to use accurate terminology.

For example, people use the term “bumper to bumper” coverage, but there is no vehicle service contract that will cover a vehicle from the front bumper to the back 100%.

There are always exclusions.

Also, remember the difference between a warranty and a service contract. A warranty comes free with the car. A service contract comes optional with an additional cost.

Transparency also means fully disclosing the payments.

“Packing payments is illegal,” Beck said. “Don’t pack the payments.”

All these tips don’t require creating a digital platform for thousands of dollars, he added.

Another tip is to also post any limited warranties, all the stuff you give away.

If a dealer can post 36 photos of a car in a photo carousel, they can devote one of those window carousels to the F&I products and services the dealer offers.

Also, don’t wait until the end of the sale to pitch F&I. “I call it ‘advocating F&I,’” Beck said. “Don’t wait until the end and clobber them over the head with it.”

Hold F&I managers accountable to train the sales people about F&I products. Lastly, make sure all this information is relayed to sales people who receive calls, staffers who work leads or those who walk the sales floor, Beck said.

This consistency builds trust and delivers a seamless transparent experience for the customer, he said.

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Manheim Pennsylvania August 11, 25 800-833-2886 Manheim Riverside August 4, 18 951-689-6000

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Contact auctions directly for current sale information.

The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. The Land Rover word mark, the Land Rover and Oval logo, and Land Rover Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license.

The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to JPMorgan Chase Bank, N.A. (“Chase”).

Maserati Capital USA, the Maserati logo and model designations are registered trademarks used by JPMorgan Chase Bank, N.A. (“Chase”) under license from Maserati S.p.A. The tradename “Aston Martin Financial Services” and the Aston Martin logo are owned by Aston Martin Lagonda Limited and are licensed to JPMorgan Chase Bank, N.A. (“Chase”).

Neither JPMorgan Chase Bank, N.A. (“Chase”) nor any of its affiliates are affiliated with ADESA, Inc. or Manheim, Inc. Each auction is solely responsible for their website content, sales events, promotions, fulfillment and operation of the auction. ©2022 JPMorgan Chase Bank, N.A. Member FDIC (22-008) 08/22

Retail Markets 7/11/2022 Compiled by Ed Fitzgerald

COLORADO

Abod Aduan, owner, Denver Car Choice, Denver, Colo.

“We have been in business for about four years. I started helping my friend open his own dealership. It was just a weekend deal, for me.

I always loved cars, even before. Then I was, like, ‘I can have my own dealership.’

“Our dealership is a usedcar (store). We do straight retail. No buy-here, payhere.

“We carry about 40 vehicles in inventory and sell about 28 a month. We try to turn every single unit every 45 days.

“Our average price is $15,000 to $20,000. I just sell cars, no trucks.

“We’re starting to get in to the high-end, luxury vehicles. So, we’re getting into Bentleys, Ferraris, Lamborghinis, stuff like that.

“We’re doing that slowly, At the beginning of the year, our average price was $7,000.

As of a couple of weeks ago, it was closer to $20,000.

“We just signed up with some credit unions a few weeks ago.

“We use Dealers Auto Auction of Colorado – we buy a lot from them. We also use Manheim Denver, ADESA. We buy online through OVE and Edge Pipeline.

“We market our vehicles online. We use almost every single car marketing website. We use CarGurus, TrueCar, carsforsale.com, cars. com, etc.

“We also use social media, like Facebook Marketplace and Instagram.

“We’ve been doing very good. You have to keep working. We’ve been having record month, after record month, after record month.

We’ve been very blessed.

“An example of a vehicle we sold recently, is a 2015 Chevy Corvette ZO6. A beautiful, beautiful car. It had 15,000 miles. We sold it for $80,000.”

GEORGIA

Edward Rodgers, owner, Emoji Auto Sales & Detail, Winder, Ga. “I’ve been in business for four years. I started out in detailing. I had a cardboard sign that said I’d wash your car for $10. It was the cheapest business I could start.

“Later, I got myself a truck and a water tank and started knocking on every door.

“When I was detailing some vehicles for Breda Pest Control, they wanted to sell some of their trucks. They gave me a price and I bought all four trucks. I brought them home, detailed them, put them on Craigslist and sold them. I made a profit

and a lightbulb went off.

“After that, I went and found a small office that had two parking places. So, I got my license, went to auction, bought a couple of cars and started marketing them.

“My first sale was a guy who came from South Carolina. I had a Ford Explorer Sport Trac. I was doing paperwork for three hours because I was learning.

“That first dealership was E-Class Auto sales, because my first name is Edward and my mom told me you always have to have class.

“When the pandemic hit, I started looking at Facebook for cars, calling my friends who might be selling cars, going anywhere I could to find a car at a good price.

The pandemic changed me for the better because it made me smarter.

“I carry about 30 to 35 vehicles. We’re turning inven-

tory every 30 to 60 days.

“Our average retail price is $12,000 to $22,000. We love to buy Hondas and Toyotas.

I’m in a really good truck market. I’m next door to one of the biggest truck dealerships in Georgia.

“I’d say about 35% of our inventory is pickups. We’ll sell 20 to 30 vehicles per month. About 80% of our business is buy-here, payhere.

“Our term length is 36 months, with $1,500 to $3,500 for a down payment.

“For Hondas, we buy up to 150,000 miles. For trucks we like to do 125,000 miles.

“I have a good team that stays on our accounts and collections. We GPS every unit with CallPass.

“We just sold a 2013 Kia Optima. It had 137,000 miles.

We got $14,500.

“I feel very upbeat and positive about the future.”

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Wholesale Markets 7/11/2022 Compiled by Ed Fitzgerald

CONNECTICUT

Jim Witkowski, sales manager, Central Auto Auction, Hamden, Conn.

“This is our 15th year in business.

“We’ve got three lanes.

Volumes have been a bit off.

It’s affected everyone.

“We’re running about 200 cars. (Pre-pandemic) it could have been anywhere from 300 to 500.

“Conversion rates are pretty good because there’s just not a lot of cars out there.

“If we’re running 230 cars, maybe 10% are fleet/lease/ repo. Everybody felt the effect of the chip situation.

“We’ll draw anywhere from 175 total to low 120.

That’s all changed too because of COVID. About 35% of bidders are online.

“What I personally hear from dealers is their business is good. They’re selling fewer cars and making more

10

money.

“Our average price in the lanes is a little less. Anything with a lot of meat on the bone is being kept by the dealers. You’re seeing a lot more of the 150,000 mile cars.

“Our new-car dealer (trades) are selling for about $15,000 and our independents are selling for about $7,500.

“We also have a GSA sale.

Then again, that’s been hit pretty hard because of the chips. Those are nice, solid, low-mileage vehicles. It’s not unusual to see a 2013 Dodge Ram with 35,000 miles on it.

“The prices for those cars are +30%, +40% than what they were.

“The market depends on what the new-car dealers do.

I’ve heard all these new cars are sitting in lots waiting on chips. When do those start

to decrease in value?

“I’ve been in the industry almost 45 years. I remember when the bank buy rate was 18% and you were selling at 21%. It’s always something.

“You see trends come and go. The car business always comes around. It never stalls out. It’s an industry that’s always innovating, You can’t forget that the sun’s going to come up tomorrow.”

VIRGINIA

Wyatt Carter, general manager, Motley’s Richmond Auto Auction, Richmond, Va. “We’ve been in business since 1990. We’re a sevenlane facility, but we normally run four lanes.

“We’re running in the 450+ area, closer to 500 at our July 1 sale. Volumes are probably 20% less than (prepandemic).

“For the past two years,

we saw some tremendously great conversion rates, with some in that 80% range. PreCOVID, we’d run in the low 60s. So, we’re back in that range.

“Our average selling price is probably $12,000. PreCOVID, that would be about 50% less.

“Our dealer consignment to our fleet/lease/repo consignment is normally about 50/50, though it might be a little higher on the (repossession) side, because cars are so hard for dealers to get.

“Repos have been steadily increasing.

“We’re drawing about 150 bidders online.

“What we’re seeing from dealers in the lanes is a decent demand for quality cars.

If it’s a rough car or needs to be reconditioned, then the sellers are really having difficulty getting it moved.

“We’re finding that the

consignors who do better are those who do a good job reconditioning.

“Dealers are definitely becoming more selective about what they’re buying.

“I think over the last two years consignors got used to not having to do much with their cars because you could sell them off the roof of the building. Now it’s kind of back to remarketing 101.

“We also have a monthly GSA sale. The volume has been low.

“We also do a classic car auction twice a car and then we do a scheduled boat and RV sale.

“The market is turning into a headwind, so you try to find ways to differentiate yourselves from competitors. I encourage our staff to focus on the basics – doing a good job for our customers and clients.

“Service is huge here.”

SVR502

619–639–0245

Wholesale Numbers 7/11/2022 seg/type -------Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck

make/model/name --------------Honda Civic Toyota Camry Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Fusion Ford Mustang Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Jeep Grand Cherokee Ram 1500 Toyota RAV4 Honda CR-V Ford Explorer Ford Escape Toyota Tacoma Chevrolet Equinox Honda Civic Toyota Camry Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Fusion Ford Mustang Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Jeep Grand Cherokee Ram 1500 Toyota RAV4 Honda CR-V Ford Explorer Ford Escape Toyota Tacoma Chevrolet Equinox Honda Civic Toyota Camry Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Fusion Ford Mustang Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Jeep Grand Cherokee Toyota RAV4 Honda CR-V Ford Explorer Ford Escape Toyota Tacoma Chevrolet Equinox Honda Civic Toyota Camry Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Fusion Ford Mustang Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Jeep Grand Cherokee Toyota RAV4 Honda CR-V Ford Explorer Ford Escape Toyota Tacoma Chevrolet Equinox

2021-07-01 ---------14700 15225 13850 13425 15400 11900 12350 15400 20300 13550 32700 33700 22625 30600 18400 21725 23250 15025 30525 15525 17000 19525 15950 15375 17525 14800 14050 17400 21700 16050 36900 37200 24525 33000 20925 23350 25400 17575 32850 20250 18400 20625 17700 19675 19550 17400 16100 18850 23275 18075 39600 42000 26825 23400 26025 27475 19450 34875 21475 20050 22225 19500 21325 20800 19500 18050 20650 24175 21725 42900 44000 30875 25200 26625 33800 23375 37075 23300

2022-01-01 ---------15675 16300 14575 13600 15975 12200 12650 15950 19825 13775 29900 31600 22650 29200 20300 23400 24125 15375 30550 16450 17900 21150 17050 16450 18375 14950 15000 19000 21475 18025 33400 36400 25575 32300 23475 26050 26750 19175 33600 22250 19550 22800 19125 21650 20700 17875 17025 20400 24100 20650 38200 40500 28250 27825 28600 29375 21700 35475 23950 21200 25300 21175 23175 22450 20825 19050 23125 25875 24125 41800 42200 32425 30025 30850 34550 26375 37350 26075

2022-07-01 ---------15450 15900 15175 12500 13975 11800 12550 15225 17925 12675 29000 29700 21875 26000 18600 22025 21575 14500 28500 15750 18700 20250 17025 15325 17150 14775 15250 17650 20000 16275 32000 34200 25425 29500 21625 24825 25950 17775 31200 19700 20150 22525 19550 20275 20025 17600 17700 20000 22800 19875 36500 37300 28050 26100 26750 28325 20900 33600 22350 21950 24400 22150 22625 22275 20025 19325 22925 24725 21600 40000 40800 31950 28425 30225 32800 24175 36875 25025

2023-07-01 ---------11875 12450 11825 9425 10250 8650 9200 11075 14150 9900 23575 24625 15900 21700 14400 16875 15800 10400 24850 11075 14300 15675 13450 11375 12275 10750 11175 13175 15925 12325 26350 27925 18525 24650 16725 19300 19225 12575 27175 14000 15700 17525 15275 14900 14525 12775 13075 14550 18125 15075 30200 31025 20900 20575 21400 21650 15125 29425 16125 17325 18875 17725 16775 16575 15350 14700 16850 20275 16850 34025 34275 24350 22700 23675 25800 18250 32150 18600

2024-07-01 ---------9500 10275 9500 7525 7750 6550 6925 8600 11550 8125 20375 21525 12300 19225 11925 13900 12650 8125 22700 8575 11350 12825 10800 9000 9250 8025 8350 10150 13125 9925 23325 24400 14300 21875 13975 16125 15450 9750 24900 10975 12675 14375 12225 11675 11125 9475 9850 11350 14825 11975 26825 27350 16425 17300 18225 17825 11800 26950 12850 14175 15500 14425 13225 12825 12050 11400 13225 17125 13750 30725 30475 19550 19300 20025 21825 14650 29350 15100

Actual Wholesale and Projected Residual Values

MY --------2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

Source: Black Book

Disconnected Jottings From

Tony Moorby 7/11/2022

Tony Moorby As insistence on recognizing individual fixations of groups of this persuasion or that grows, our sense of humor is being tested. A nation which has historically, easily laughed at itself, is losing its ability to use what has always been a social pressure relief valve.

Even the boldest comedians are avoiding subjects to do with anything that might offend, criticize or mock. Satire is off limits, no matter how clever or intelligent. It’s a shame because an ability to see the humor in things or situations tends to keep a balance in what’s important and what’s not, in any society.

Laughter tests extremism and brings a perspective that’s open and questioning.

We should allow humor to bring an easier look around us. Today we’re scared to opine on anything that may

offend even the fringe.

Did Hitler have a sense of humor? Putin? Just a look at their deadpan faces tells the answer to that. Comedians are the first to fall in totalitarian regimes; their leaders hate being laughed at as laughter questions their fallibility and points to inconsistencies.

Extremism, by its definition, has no balance and humor loves to trade on the edges of disparate views even when they’re only marginally apart. The certainty that extreme groups hold their views, precludes any consideration to see others’ points of view that may soften their resolve, let alone make light of matters.

Social media reflects this malicious malaise where even the most innocent comment will incur the wrath of someone with nothing better to do rather

than see the lighter side of life.

Maybe we should bring back the court jester. Henry VIII enjoyed his even in his later miserable days of ill health. Mind you, a court jester was not typically a buffoon making a fool of himself merely to entertain.

King Henry’s was a close friend and adviser, keeping up on current affairs and observing the opinions of the populace. The King would amend his demeanor depending on the feedback.

So, freedom of speech is under attack. There are limitations to the protection of free speech; incitement, defamation, fraud, obscenity, child pornography, fighting words and threats but making fun isn’t one of them.

We are in the middle of a European war, dealing with climate change, suffering

33. Pontiac ____ Trans Am

8. Reduced

5. Classic car designer and maker

36. Short sip

10. Toyota sedan

11. Function

39. Former Pontiac SUV

1. Sporty Chevy

12. Famous Ford

37. Classic ____ GTX

9. Joshua tree 15. For example, briefly

1

20. _____ Clubman

44. Sign of corrosion

21. Winter month, abbr.

16. Spacious

45. V-___ engine

22. Memorial Day event

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23. Luxury Kia

37

23. Type of design, abbr.

glory

25. Experimental area

24. Honda SUV 26. Pathfinder maker

4. Not loose

31. The whole enchilada

28. __ No, 007 foe

6. Wheel cover

32. Shade of white

30. VW family car

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27. Ride in new wheels, 35. GM’s On-___ system say 37. Green color 29. Dodge sports cars

3. Environmental watchdogs, for short

4

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24. Golfer’s goal

3

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2

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18. Alabama Speedway

tension. They make life more tolerable and people more tolerant.

That would be a good thing right now.

There was an Englishman, an Irishman and a Jewish, black, one-legged lesbian and they walked into a bar one day….

10

40. This __ that

13. General feelings

To see past columns from Tony Moorby, visit www.usedcarnews.com/ columnists/tony-moorby

Play Online at Us e d C a r N e ws. co m

By Myles Mellor

Across

• 50-year veteran of the industry • President from 1997– 2000 of ADT Automotive • Served as ADESA’s executive vice president of sales and marketing • Moorby & Associates 2006–present • NAAA Hall of Famer • IARA Circle of Excellence

the effects of a pandemic and a cost-of-living crisis and someone wants to complain about a man wearing a dress! I daren’t mention anything to do with the LGTBQ and trans community or institutional racism (I’m still not sure I know the full meaning of this as, ironically, it’s rarely discussed openly).

As a reasonable man who’s seen much, from playing in the post-war rubble of London to flying around in corporate jets, I like to think I’m sensitive to others’ sensibilities and over the years I’ve found laughter can make a subject more easily discussed and even more memorable. Anybody who listens to a speech laced with humor will remember the contents more readily than one delivered as dry facts.

Humor and laughter ease

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41. Letter addition 42. Former lover

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Solution to the 6/20/2022 puzzle

Solution to this puzzle in the 8/1/2022 issue. Call 1.800.794.0760 for a FREE subscription.

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