December 15, 2014
ON THE WEB: Home Owners Borrow To Buy Vehicles
2014 MOVERS AND SHAKERS
Twenty-seven percent of consumers who have a home equity line of credit used it to purchase a vehicle.
Auction App Available For Apple, Android
AuctionEar, a mobile app developed by XCIRA that adds instantaneous audio and video to the company’s mobile bidding platform, is now available for both Apple and Android devices.
Auto Dealer Goes To Prison for Flood Cars
The operator of a New Jersey used-car dealership was sentenced to three years in prison for using fraudulent vehicle titles to sell cars damaged in Hurricane Sandy. A suspended Motor Vehicle Commission technician who helped him obtain the fraudulent vehicle titles previously was sentenced in the criminal scheme. Charges are pending against a former salesman at the dealership.
Rush - Dated Material
Julie Picard Picard became the fist woman named as general manager of Manheim Pennsylvania, the auction chain’s flagship sale and the largest auto auction in the United States. Picard was the recipient of the 2013 Laurie Dobberphul Top Achiever Award, from GE Remarketing, presented to women who continuously make a difference and are passionate about the automobile industry. Manheim has made numerous changes to its auction management in the past year, including seven new general managers put in place this fall.
Paul John The executive director of the Georgia Independent Automobile Dealers Association leads a group with approximately 2,400 members, far outpacing any other state. Georgia had 1,200 members in 2002 when John first took over dealer education. John won the Association Executive of the Year award during this year’s National Independent Automobile Dealers Association annual convention. During his acceptance speech at that convention, he challenged his fellow state executives to grow their groups and membership in the NIADA.
The former Ohio attorney general and Jeopardy champion became one of the auto industry’s least favorite people when he was named director of the Consumer Financial Protection Bureau. Cordray and his agency spent most of their first few years dealing with other forms of credit, such as mortgages and credit cards. This year the CFPB finally set its sites on auto finance. The main focus has been on claims of unequal treatment of minority groups and the way creditors handle their collections.
CFPB Claims Toyota Financial Discriminated in Auto Credit Toyota Financial Services became the latest target of federal regulators. The Consumer Financial Protection Bureau and the Department of Justice are alleging that TFS’ practices resulted in discriminatory pricing of loans to certain borrowers. The regulators have informed the captive that they are prepared to initiate an enforcement proceeding unless Toyota Financial agrees to a voluntary resolution satisfactory to them. TFS received a letter from the agencies indicating they are seeking monetary relief and implementation of changes to its discretionary pricing practices and policies.
TFS said these changes could adversely affect its business but intends to continue to cooperate with the regulators In related news, the American Financial Services Association has released a comprehensive study of more than 8.2 million auto financing contracts showing that the disparity alleged by the CFPB between the amount of dealer reserve charged to minorities and non-minorities is not supported by data. The study, “Fair Lending: Implications for the Indirect Auto Finance Market,” examined the proxy methodology used by the CFPB and found significant bias and high error rates.
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VW Credit, Lincoln Financial Rank Highest in Survey Automotive finance providers need to offer comprehensive first-rate service throughout the life of the loan to satisfy their customers,, rather than excelling only in some areas of the auto loan process. That is the key finding of the recently published J.D. Power 2014 U.S. Consumer Financing Satisfaction Study. The study was redesigned for 2014 to include used-vehicle transactions as well as new, and to expand the time from the financing origination to four years, compared with one year in previous studies. The study examines the overall customer experience with the financing of either an automotive loan or lease and measures satisfaction among customers who financed or leased their vehicle indirectly through a dealer, or directly through an auto finance provider. Four key factors are analyzed: on-boarding process; billing and payment process; website; and phone contact. The study is conducted in two vehicle segments: luxury and mass market. The 2014 Consumer Financing Satisfaction Study finds that overall satisfaction in both the luxury and mass market segments is significantly higher for loans on new vehicles (844 on a 1,000-point scale) than on used vehicles (817). Higher satisfaction in the billing and payment process and website factors are the main drivers of that difference among customers with a new-vehicle loan origination (846 and 840, respectively) than among those with a used-vehicle financing origination (819 and 817, respectively). Similarly, overall satisfaction with the loan and lease experience differs by segment. Customer satisfaction in the luxury segment is higher for leases (847) than for loans (840), but the opposite is true in the mass market segment. There, satisfaction is higher for loans
(815) than for leases (807). Ensuring customer satisfaction is critical for finance providers, as more than 90 percent of customers who rate themselves “highly satisfied” (overall satisfaction scores of more than 800 points) indicate they “definitely will” use their current lender in the future. Moreover, more than 50 percent of customers indicate that they selected their provider based on inputs other than dealer recommendations. According to the study, avoidance of billing and payment errors (incorrect payment amounts listed on statements, misapplied payments, or incorrect personal account information) is the most influential key performance indicator impacting satisfaction. “Satisfying auto financing customers is not contingent on excelling in one area,” said Mike Buckingham, senior director of the automotive finance practice at J.D. Power. “It’s a continuum across the entire process, with the stage set during the on-boarding process--or the initial discussion with customers--and continuing through the billing and payment process. “The execution of finance process best practices is more important than the innovation of new tools to complete transactions. All lenders use mostly the same technology, but the ones that execute better across all areas are the ones with the most satisfied customers.” Buckingham said technology does play a key role during the billing and payment process, which is the factor with the most impact on overall satisfaction. Many customers seek not only self-service tools to set up an automatic payment system, but they also want tools to confirm that their payments were received and processed and to check the balance of their account, with many preferring to conduct these activities using their computer, tablet or smartphone.
2014 U.S. Consumer Financing Satisfaction Study - Mass Market Award Recipient
Volkswagen Credit Overall Satisfaction
Billing and Payment Process
Volkswagen Credit Ally Financial Bank of America Capital One Auto Finance Chase Automotive Finance Chrysler Capital Fifth Third Bank Ford Credit Honda Financial Services Hyundai Motor Finance Kia Motors Finance Mazda Capital Services NMAC PNC Bank Santander Auto Finance Subaru Motors Finance SunTrust Bank TD Auto Finance Toyota Financial Services US Bank Wells Fargo Dealer Services World Omni Financial Corp. Scoring Legend
Among the best
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*Please note that jdpower.com Ratings may not include all information used to determine J.D. Power awards. Learn more about how J.D. Power Circle Ratings are calculated.
“Lenders need to make it easy for customers to access their account anytime anywhere,” Buckingham said. “That means providing a website and apps that are reliable and that make the most critical elements of the billing process easily identifiable.” Lincoln Automotive Financial Services (867) ranks highest in the luxury segment for a second consecutive year, performing highest in the billing and payment process and website factors. Lexus Financial Services (859) ranks second and Audi Financial Services (854) ranks third. Volkswagen Credit ranks
highest in the mass market segment, with a score of 836, and scores highest in billing and payment process (tied with Ford Credit) and website. Ford Credit ranks second with a score of 835 and Honda Financial Services ranks third with 829. “We have worked to improve our processes based on consumer feedback and we will continue to listen to our customers and work diligently to provide the best experience possible” said Christian Dahlheim, CEO of VW Credit Inc. “Both (Audi and VW) saw an increase in their ranking and we’d like to thank our
team and our dealers for providing a great financing experience to our customers. We are proud of those results; it tells us we are already doing something right in the eyes of our customers.” Audi Financial Services is ranked No. 3 of 13 compared to 4 of 12 in 2013 in the luxury segment. The study is based on responses from 20,670 newand used-vehicle purchasers or lessees who obtained a vehicle loan or lease. The study includes vehicles financed for model years 2010 through 2014. The study was fielded between July and September.
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USED CAR NEWS
NEWS BRIEFS TD Auto Honors PAR
ADESA announced that its subsidiary, PAR North America, has been selected as TD Auto Financeâ€™s Repossession Vendor of the Year. PARâ€™s selection was based on outstanding ratings on performance, compliance and communication. The company was the segment leader in key performance areas including repossession rate, time to repossession from placement, accuracy and resolution rate. The award was presented at TD Auto Financeâ€™s annual vendor conference on Oct. 27 at the Cosmopolitan Hotel in Las Vegas, an event held to reward and recognize its outstanding vendors.
Copart Reports Strong Results
Copart Inc. reported financial results for the quarter ended Oct. 31. For the three months, revenue, gross margin and net income were $290.4 million, $122.3 million and $52.6 million, respectively. These represent increases in revenue of $10.5 million; in gross margin of $14.5 million; and in net income of $11.2 million, respectively, from the same quarter last year.
for auto dealers. Risk Point Alert sends push notifications to a mobile device when severe weather is within 30 miles, 20 miles and 5 miles of a target auto dealership. This tool provides auto dealers with advanced warning to help them decide how to protect their auto inventory. Protecting autos improves dealer profitability by minimizing damage and controlling insurance costs. Risk Point Alert is provided free of charge to all Risk Point customers, is customized to the dealersâ€™ locations, and is available on both iPhone and Android Smart platforms.
mission sought public comments on proposed changes to the Buyers Guide as part of its systematic review of all of the agencyâ€™s rules and guides. In response to the comments the commission received, the agency now seeks comments on additional proposed changes as well as the previously proposed amendments to the Used Car Rule, including: É&#x;Ć€É&#x; +/#,#(!É&#x; &,-É&#x; 1")É&#x; "0É&#x; obtained a vehicle history report to indicate that fact in a box on the Buyers Guide, and to provide a copy to consumers upon request; Ć€É&#x; )# 3#(!É&#x;."É&#x;/3,-É&#x;/#É&#x;É&#x;
description of an â€œAs Isâ€? sale to clarify that it means the sale of a used car without a warranty; Ć€É&#x; Placing boxes on the front of the Buyers Guide for dealers to disclose â€œnon-dealerâ€? warranties; Ć€É&#x; #(!É&#x;É&#x;-..'(.É&#x;.)É&#x;."É&#x;/3,Guide encouraging consumers to obtain vehicle history reports, to check for safety recalls, and to visit a proposed FTC website for more information; and Ć€É&#x; Adding a statement, in Spanish, on the front of the Englishlanguage Buyers Guide, advising Spanish-speaking consumers to ask for the guide in Spanish if they cannot read it in English.
FTC Seeks Input on Used Car Rule
The Federal Trade Commission is seeking supplemental public comments on proposed changes to the agencyâ€™s Used Car Rule and the Used Car Buyers Guide that the rule requires dealers to display. The commission is not adopting any final amendments to the rule at this time. In December 2012, the ComC R O S S WO R D by Myles Mellor
Tool Warns of Bad Weather
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USED CAR NEWS (ISSN 1555-7413) is published at Ĺ˛Ĺ´ĹąĹąĹ´É&#x;,*,ĹťÉ&#x;.ĹşÉ&#x;&#,É&#x;"),-ĹťÉ&#x; É&#x;Ĺ´Ĺ¸Ĺ°Ĺ¸Ĺ° ")(ĹźÉ&#x;ĹľĹ¸ĹśĆ?ĹˇĹˇĹ˛Ć?ĹľĹ˛Ĺ°Ĺ°É&#x;),É&#x;Ĺ¸Ĺ°Ĺ°Ć?ĹˇĹšĹ´Ć?Ĺ°ĹˇĹśĹ°É&#x;É&#x;É&#x;2ĹźÉ&#x;ĹľĹ¸ĹśĆ?ĹˇĹˇĹ˛Ć?ĹšĹ´Ĺ°Ĺ° www.usedcarnews.com Charles M. Thomas Founder (1947-2002) Lynda R. Thomas, Publisher Colleen Fitzgerald, (,&É&#x; (!, Editorial: Ted Craig, (!#(!É&#x;#.), Jeffrey Bellant, Staff Writer Contributing Writers: Ed Fitzgerald, Jenny King, Sheila McGrath Columnist: Tony Moorby Advertising: Shannon Colby,É&#x;)/(.É&#x; (!, Megan Frump, )/(.É&#x; (!, Marie Hingst, )/(.É&#x; (!, Circulation: Helen Thomas
Production: Josie Godlewski, #É&#x; (!, Tim Montie, Graphic Designer â€”â€”â€”
-É&#x;,É&#x;1-É&#x;#-É&#x;*/&#-"É&#x;."É&#x;ĹŚÉ&#x;,-.É&#x;(É&#x;."#,É&#x; )(3É&#x;) É&#x;"É&#x;')(."Ĺş Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction -ĹşÉ&#x; )-.É&#x;&#-.-É&#x;,É&#x;*,.#&É&#x;(É&#x;&&É&#x;&#-.-É&#x;,É&#x;-/$.É&#x;.)É&#x;&-.É&#x;'#(/.É&#x;"(!-É&#x;3É&#x;/.)É&#x; auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of any advertisements. All Rights Reserved. Reproduction in any form is prohibited without the written consent of the publisher. É&#x; É&#x; É&#x; Please submit clear, legible copy. Payments from first time advertisers must accompany the insertion order. Distribution is guaranteed by U.S. Postal Carriers. The advertising reservation deadline is 5:00 p.m. Friday, 10 days prior to the issue .ĹşÉ&#x;',É&#x;,3É&#x;-É&#x;'/-.É&#x;É&#x;,#0É&#x;3É&#x;())(É&#x;)(É&#x; )(3É&#x;*,#),É&#x;.)É&#x;."É&#x;#--/É&#x;.Ĺş
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Lexus Sees New Model, Used Cars as Youth Magnets By Jenny King
DETROIT â€“ When Lexus plunged into the U.S. market 25 years ago it targeted baby boomers with its sedans. Today the luxury carmaker is taking aim at younger buyers â€“ members of generations X and Y â€“ with the introduction this month of its NX compact utility vehicle. Citing responses to Lexus products in such areas as â€œsexyâ€? and â€œcool,â€? Lexusâ€™s Jeff Bracker told members of the Automotive Press Association here in November that it is necessary to tweak the Lexus image to attract young buyers who now are entering the luxury market. â€œIf we donâ€™t take risks we may lose generations X and Y,â€? said the divisionâ€™s general manager. That may result in a â€œsacrificeâ€? of some older owners who arenâ€™t thinking in terms of sexy, edgy and cool. The all-new NX will be offered with Lexusâ€™s first turbo-charged engine (2015 NX 200t) or a gaselectric hybrid powerplant
(2015 NX 300h). Both will be available with all-wheel drive. The NX starting price is just under $35,000. More than 1,000 consumers have entered into advance deals for the new NX at their local dealerships. This total covers nearly all of Lexusâ€™ 234 US dealerships The carmaker anticipates U.S. sales of 300,000 for 2014. Lexus dealers also will sell some 76,000 certified pre-owned vehicles this year. â€œWe were the first luxury car maker to offer a certified pre-owned program,â€? said Todd Ferguson, Lexus national CPO marketing manager. The CPO program has grown significantly. All 234 Lexus dealers participate in the program, he said. CPO sales skew to younger buyers, but in general CPO customers fall into two categories: aspirational buyers and practical buyers. CPO lower price points play a big role. As with new vehicle sales, the South and West enjoy
Photo by Jenny King YOUTHFUL OUTLOOK: Lexusâ€™ Jeff Bracker fields questions from members of the press at a recent event in Detroit. Lexus is looking to attract more young buyers.
higher sales of CPO vehicles than other parts of the country, Ferguson said. Lexus views certified preowned vehicle sales as a gateway to future new-vehicle purchases. CPO customers receive the same level of treatment at Lexus deal-
erships as new-car buyers, Ferguson said. That includes special services by individual dealers and the loaner program available to service customers. â€œOur CPO parameters have recently changed to include
newer vehicles,â€? he said. Earlier a Lexus product less than 20 months old was not eligible for the program. Vehicles younger than six years and/or with 70,000 or fewer miles are eligible for a 161-point inspection at a dealership.
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EV Drivers Like Leafs Best ATLANTA (AP) â€“ Itâ€™s fall, and the Leafs are turning left and right. The handful of plug-in electric car models available here, led by the Nissan Leaf, has come as a bit of a shock to the Atlanta market. They arenâ€™t underpowered golf cart-like vehicles, for one thing. The coolest and most expensive plug-in, the Tesla Model S, goes from zero to 60 in, well, it was there before you finished reading this. (For the record: 3.2 seconds.) By the end of 2014, 18,000 to 20,000 all-electric cars will be on the road in Georgia. Although thatâ€™s still a relatively minuscule number, it suggests that the vehicles have passed a big milestone: the market has outgrown the hard-core enthusiasts who would have bought the cars no matter what and now takes in people looking for a good deal. And such a deal it is: some people who lease the Nissan Leaf find that, between the stateâ€™s $5,000 tax credit for electric cars and the savings on gasoline, the monthly cost of the lease comes out roughly to zero. (Fair warning: the tax credit cost the state $13.6 million in 2013 and may be much more expensive in 2014 because of greater sales of electric vehicles; the credit was nearly repealed earlier this year, and a state legislator has it in his sights again for 2015.) Leaf buyers tend to be enthusiastic about the cost, the quiet and the total absence of emissions. Leaf driver Karen Hines, who commutes about 18 miles one-way from her home in Tucker to her job downtown, was driving an old minivan when she got a new lease on Leaf a year ago. ``I think my monthly lease payment is probably just a little bit more than the gas I was buying for my van,â€™â€™ Hines said. ``We got a really great deal. The van was big,
didnâ€™t have great gas mileage. And I get to travel in the HOV lane all by myself.â€™â€™ People like Hines have made Atlanta the No. 1 market in the nation for the Nissan Leaf, which is also the nationâ€™s No. 1 plug-in electric car. A third of the Leafs sold in the United States are sold here, a Nissan spokesman said, and while the Leaf accounts for about 2 percent of Nissan sales nationwide, it adds up to 25 percent of the automakerâ€™s sales in Atlanta. The biggest concerns about plugins â€“ the range is too limited, the price is too high, charging stations are too few and far between â€“ are still concerns, but thereâ€™s progress on every front: range for the typical plug-in is now about 80 miles on a charge (265 miles for that supercharged, $70,000 Tesla); the price is steadily coming down for most models; and charging stations are increasing in number. Don Francis, the executive director of Clean Cities Georgia, which promotes alternative-fuel vehicles _ compressed natural gas, propane, electricity _ is both a promoter and a believer. ``Itâ€™s very inexpensive to operate,â€™â€™ said Francis, who is driving his second Leaf. â€œIn addition to that, theyâ€™re finding out that itâ€™s a very fun car to drive.â€™â€™ William Cook, who runs the stateâ€™s tax credit program for the state Environmental Protection Division, said he has been surprised by the growth in the program this year. The state approved 132 tax-credit certificates in 2012, he said. The number jumped to 1,372 in 2013. Through September this year, the total was 4,591. He estimated that 90 percent of the plug-in electrics certified are Nissan Leafs. No. 2, though quite a bit lower, is the Tesla.
Dealer Pleads to Hiding Income A Minnesota dealer pleaded guilty to hiding income from the Internal Revenue Service. James Francis Volin, pleaded guilty on Nov. 18. He will be sentenced at a future date. According to his guilty plea and documents filed in court, in 2008 Volin agreed to pay nearly $100,000 in outstanding taxes to the IRS. He still owed the taxes in 2012 and 2013 when he was operating an unlicensed and illegal used-car dealership, which generated substantial income in cash. Instead of paying the back taxes as agreed, Volin hid the income. He admitted that he did not report the cash income or file tax returns and that he put money into cashierâ€™s checks and used bank accounts opened under another name
and Social Security number to avoid detection. Volin was originally indicted earlier this year for structuring bank deposits. â€œStructuringâ€? is a way of depositing money into bank accounts in amounts less than those required by law to be reported by the financial institution to the Financial Crimes Enforcement Network. According to that indictment, between April 2012 and April 2013, Volin made structured deposits totaling more than $200,000, in amounts insufficient to trigger mandatory reporting to the government. This case is the result of an investigation by the Internal Revenue Service â€“ Criminal Investigations and the Minnesota State Patrol Vehicle Crimes Unit.
12/8/14 4:14 PM
Seller Wins $10,000 Raffle
67 Years Can’t Be Wrong. Photo by Jeffrey Bellant PAID IN FULL: Michigan dealer Ray Machasic (left), owner of Suburban Auto Sales, won $10,000 in a raffle sponsored by the Eastern Michigan Chapter of Michigan Independent Automobile Dealers Association. Fellow dealer Maurice Van Collie presents the check. By Jeffrey Bellant
ROSEVILLE, Mich. – Ray Machasic, owner of Suburban Auto Sales, has a little extra shopping money for the holidays after he won $10,000 from the Eastern Michigan Chapter of the Michigan Independent Automobile Dealers Association. Machasic, who has been in business since 1987, received his winnings from longtime Michigan IADA member Maurice Van Collie, who runs the raffle. The annual raffle raises money for the association. Machasic has two stores in Roseville, Mich., and carries a mix of trucks, sport utility vehicles and imports, though more trucks this time of the year. “Business could be better,” he said. Machasic carries about 100 vehicles between his two stores.
He’s been a part of the association since he’s been in business and he’s always purchased tickets for the raffle. “First time I ever won,” Machasic said. “When I got the call, I saw Van’s number on the caller ID and I looked at my wife, Kimberly, and said, ‘I bet I won the raffle.’” The day Van Collie brought over the check, Machasic had just returned from the auction, where he had purchased a Land Rover and a couple of pick-up trucks. “I buy probably 90 percent of my cars through the auctions,” he said. Machasic works with his son, Derek, and his daughter-in-law, Stacey, at the dealership. Van Collie said in the past the group has raffled off automobiles, but it’s more work than just handing over a check. Machasic isn’t complaining.
Wholesale Prices Move Up After ticking up in October, wholesale used vehicle prices showed a more sizable gain in November. This pushed the November Manheim Used Vehicle Value Index to a reading of 123.3, which represented an increase of 0.7 percent from a year ago. The Index adjusts prices at auction for mix, mileage, and seasonality. Average auction prices for rental risk units (both adjusted and unadjusted for mileage and mix shifts) moved up in November relative to October, but were still down yearover-year. November’s auction volume of rental risk units was up significantly from a year ago, but due to the normal large seasonal reduction
tNovember was still the lowest-volume month of the year. Average mileage crossed the 45,000-mile threshold for the first time ever. Luxury vehicles continued to outperform the overall market in November, but due to weakness earlier in the year they still have a lot ground to make up. Manheim’s analysis of changes in mileage by price tier suggests that vehicles in the $8,000 to $10,000 price range are showing the weakest demand, whereas vehicles in the $13,000 to $15,000 range are enjoying the strongest relative pricing. Dealer-consigned units at auction had a 1 percent increase in average selling price despite a 2 percent rise in average mileage.
12/8/14 4:12 PM
PAGE 8 - YEAR IN REVIEW
Reflecting on a Year of Recalls and Regulation This year was very good for the used-car industry, but numerous clouds hung overhead, ranging from increased regulatory scrutiny to constant talk of bubbles. Used-car sales in general
were strong through the year, with certified sales performing especially well. CPO sales are on track to break last year’s record of 2.1 million vehicles. This good news has been overshadowed by regulatory actions that threaten the way most dealers do business. The Consumer Financial Protection Bureau says it doesn’t want to end dealer compensation for putting together consumer financing, but it does want an end to dealer participation. Ally Financial Inc. agreed to watch its dealers more
closely as part of its settlement with the CFPB, but stopped short of eliminating dealer participation. BMO Harris, however, changed to a flat fee system on its own to avoid any con-
flict with the regulator. The CFPB also took its first action against a buyhere, pay-here dealer this year, fining DriveTime Inc. $8 million for its collection practices. Other regulators also put pressure on dealers. The Federal Trade Commission went after several dealers for misleading ads and fined Consumer Portfolio Services $2 million for its collection practices. And since this was an election year, many state attorneys general stepped up enforcement actions against dealers.
One area drawing new regulatory attention is the way used-car dealers handle recalls. New York City is moving forward with an ordinance that bans dealers from selling cars with open recalls. Many see this as a model that others will follow. Even the good news came with negative spin. Numerous sources, including one high profile Wall Street analyst, made headlines this year with warnings of a coming collapse in used-car prices as off-lease vehicles and trade-ins flood the market. Most industry experts said these fears were overblown, saying prices will soften, but not collapse. THAT WAS 2014: Clockwise, Marc Powell, owner of Albuquerque-based Recarnation, accepts the National Quality Dealer award; dealer Jay Mullen stands by the portable toilets he was forced to use due to a dispute with the city of Lisbon, Ohio; and auctioneer Michael Chambers and auction owner Bob McConkey sell a pedal car to raise money for the Warren Young Sr. Scholastic Foundation.
FLOP OF THE YEAR: TAKATA AIRBAGS Recalls dominated the news about the auto industry in 2014. The year started with General Motors and its massive ignition switch recall. But this was dwarfed at yearend by Japanese supplier Takata and its airbag recall that affected million of units from a wide array of manufacturers going back more than a decade.
The airbag recall is limited, so far, to the Southeast. But the large manufacturers have been pressuring Takata to expand this recall nationwide. The size and frequency of recalls this year reflects increased pressure from the National Highway Transportation Safety Administration, especially in safety areas, such as airbags.
COUP OF THE YEAR: SUPERSTORES Used-car superstores were supposed to go the way of grunge music, Beanie Babies and other ‘90s fads. Instead, the concept has made a comeback this year, more than a decade after AutoNation Inc. shuttered its stores. Following the huge success of CarMax Inc., Sonic Automotive Inc. and Asbury Automotive Group Inc.
both announced plans for their own chains of usedcar superstores. Asbury has already opened one Q store and a second is scheduled to launch this month. Sonic is set to open its first store in Denver. All the action in auto sales drew the attention of wellknown investor, Warren Buffett, who entered the business earlier this year.
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12/4/14 11:51 AM
Kia, Hyundai Pay for Delivering Lower MPG
WASHINGTON (AP) – Korean automakers Hyundai and Kia will pay the U.S. government a $100 million civil penalty to end a two-year investigation into overstated gas mileage figures on window stickers on 1.2 million vehicles. The penalty, announced by the Justice Department and the Environmental Protection Agency, is the first under new rules aimed at limiting the amount of heat-trapping gases cars are allowed to emit. Those regulations are a cornerstone of President Barack Obama’s plans to combat global warming and are achieved largely through improving vehicle fuel economy. The payment could also serve as a precedent for other automakers who overstate mileage in violation of the Clean Air Act. Attorney General Eric Holder said the settlement shows the need for car companies to be forthcoming about their compliance with emissions standards. Under the settlement, HyundaiKia will forfeit greenhouse gas credits worth more than $200 million because the 13 affected vehicles will emit about 4.75 million more metric tons of greenhouse gases than the automakers originally claimed. The credits could have been sold to other automakers who aren’t meeting emissions standards.
Hyundai-Kia must also audit test results on current models, and set up an independent group to certify future test results, at a cost of around $50 million. Officials said the misrepresentations put other car companies at a competitive disadvantage, especially since fuel economy is the “number one factor that consumers think about when they’re going to buy a car,” said EPA Administrator Gina McCarthy. “That tilts the market in favor of those who don’t play by the rules and it disadvantages those that actually do play by the rules,” McCarthy said at a news conference. “And that’s simply not fair, and it’s also not legal.” The companies, which are both owned by Hyundai and generally sell different versions of the same models, denied allegations that they violated the law. Hyundai blamed the inflated mileage on honest misinterpretation of the EPA’s complex rules governing testing. Both companies said they are paying the penalties – $56.8 million for Hyundai and $43.2 million for Kia – to end the probe and potential litigation. All automakers do their own mileage tests based on EPA guidelines, and the agency does audits to make
sure they are accurate. In the past two years, the EPA has stepped up audits of automaker tests. Just two weeks ago, the agency told BMW to cut mileage estimates on four of its Mini Cooper models. Ford and Mercedes-Benz also had to cut numbers on their window stickers. EPA officials wouldn’t comment on whether the agency is investigating other automakers. In November 2012, the EPA ordered Hyundai and Kia to redo the
window stickers on cars that made up about one-third of their model lineup. Generally, gas mileage was overstated by one or two miles per gallon. But the EPA’s tests found the highway mileage of one vehicle, the boxy Kia Soul, was 6 mpg too high. Both automakers started a program to reimburse automakers for the difference between their mileage tests and the EPA’s lower numbers. The EPA and Justice said the automakers violated the law.
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12/8/14 5:03 PM
Your source for quality, value, selection: Chase. A broad selection of pre-owned vehicles from an industry leader. January 2015 Chase High Lines, featuring Jaguar Land Rover Financial Group
Chase ADESA Boston January 16, 23, 30 508-626-7000
Columbus Fair AA January 21, 28 614-497-2000
Manheim New Orleans January 14, 28 985-643-2061
ADESA Charlotte January 8, 22 704-587-7653
Manheim Atlanta January 7, 8, 22 404-762-9211
Manheim Orlando January 6, 13, 20, 27 800-337-8491
ADESA Cincinnati/Dayton January 20 937-746-4000
Manheim Baltimore Washington January 13 410-796-8899
Manheim Pennsylvania January 8, 9, 22, 23 800-777-2053
ADESA Golden Gate January 6, 20 209-839-8000 ADESA Houston January 7, 21 281-580-1800 ADESA Indianapolis January 6, 20 800-925-1210 ADESA Kansas City January 6, 20 816-525-1100 ADESA Lexington January 8 859-263-5163 ADESA San Diego January 8 619-661-5565 ADESA Tulsa January 9 918-437-9044 America’s AA-Chicago January 21 708-389-4488 Brasher’s Salt Lake AA January 27 801-322-1234
Manheim Dallas January 14, 28 877-860-1651 Manheim Denver January 14 800-822-1177 Manheim Detroit January 8, 15, 22 734-654-7100 Manheim Fredericksburg January 15, 29 540-368-3400
Manheim Phoenix January 8, 15, 22, 29 623-907-7000 Manheim Pittsburgh January 14 724-452-5555 Manheim Riverside January 13, 15 909-689-6000 Manheim Seattle January 7 206-762-1600
Manheim Milwaukee January 14, 28 262-835-4436
Manheim Southern California January 22 909-822-2261
Manheim Minneapolis January 7 763-425-7653
Southern AA January 14 860-292-7500
Manheim Nashville January 21, 28 877-386-5004 Manheim Nevada January 23 702-361-1000 Manheim New Jersey January 7, 14, 28 609-298-3400
Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information.
ADESA Boston January 23 508-626-7000
Manheim Dallas January 14 877-860-1651
Manheim Orlando January 13 800-337-8491
ADESA Golden Gate January 6 209-839-8000
Manheim Milwaukee January 14 262-835-4436
Manheim Pennsylvania *January 8, 22 800-777-2053
Manheim Atlanta January 7 404-762-9211
Manheim Nashville January 21 877-386-5004
Manheim Riverside January 15 909-689-6000
*Only Jaguar and Land Rover vehicles will be sold on January 22. All other high lines, excluding Jaguar Land Rover, will be offered on January 8..
Mazda Capital Services ADESA Boston January 16, 30 508-626-7000
Manheim Detroit January 8, 22 734-654-7100
ADESA Golden Gate January 20 209-839-8000
Manheim Fredericksburg Manheim Pennsylvania January 29 January 9, 23 540-368-3400 800-777-2053
ADESA Kansas City January 6 816-525-1100
Manheim Milwaukee January 14, 28 262-835-4436
Manheim Pittsburgh January 14 724-452-5555
Columbus Fair AA January 28 614-497-2000
Manheim Nashville January 21 877-386-5004
Manheim Riverside January 13 909-689-6000
Manheim Atlanta January 8 404-762-9211
Manheim New Jersey January 14, 28 609-298-3400
Manheim Seattle January 7 206-762-1600
Manheim Orlando January 6, 20 800-337-8491
Subaru Motors Finance ADESA Boston January 16, 30 508-626-7000
Manheim Detroit January 8, 22 734-654-7100
Brasher’s Salt Lake January 27 801-322-1234
Manheim Fredericksburg Manheim Pittsburgh January 15 January 14 540-368-3400 724-452-5555
Columbus Fair AA January 21 614-497-2000
Manheim Milwaukee January 14 262-835-4436
Manheim Seattle January 7 206-762-1600
Manheim Dallas January 14, 28 877-860-1651
Manheim New Jersey January 7, 28 609-298-3400
Manheim Southern CA January 22 909-822-2261
Manheim Denver January 14 800-822-1177
Manheim Orlando January 13 800-337-8491
Southern AA January 14 860-292-7500
Manheim Pennsylvania January 23 800-777-2053
*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”). Retail / Loan and lease accounts are owned by Chase. *The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by 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 Chase is under license. Retail / Loan and lease accounts are owned by Chase. *The tradename “Mazda Capital Services” as well as the Mazda and Mazda Capital Services logos are owned by Mazda Motor Corporation or its affiliates and are licensed to Chase. Retail / Loan and lease accounts are owned by Chase. © 2014 JPMorgan Chase Bank, N.A. Member FDIC. All rights reserved. (12-381) 06/12
12/5/14 1:03 PM
GM Says Parts Ready for Repairs
General Motors reports enough parts are available to fix all the faulty ignition switches that are covered by its recent recall of more than two million vehicles. The National Highway Transportation Safety Administration urges owners of unrepaired GM vehicles to immediately contact their local dealer to arrange a service appointment. GM reports that many dealers will help owners get their vehicles remedied after work and on the weekends. There are nearly 1 million vehicles with these faulty ignition switches still in the vehicle, creating a danger of the airbags not deploying in the event of a crash. The involved vehicles are all 2003-2007 Saturn Ion, 2005-2010 Chevrolet Cobalt, 2006-2011 Chevrolet HHR, 20072010 Pontiac G5, 2006-2010 Pontiac Solstice and 2007-2010 Saturn Sky. Owners can also confirm whether their individual vehicle needs to be repaired under this recall or any other GM recall by using NHTSA’s free VIN look-up tool on safercar. gov. Vehicle owners should contact their local dealers immediately to schedule an appointment to get the final remedy. Until the affected vehicle is fixed, owners should follow all of the interim safety steps advised by GM and keep in mind that the use of a single key is not a long-term solution to this serious safety problem. At NHTSA’s direction, GM ramped up its production of replacement ignition switches in order to complete production of replacement parts ahead of its original goal of early November. NHTSA also pushed the automaker to take steps to maximize the number of vehicle owners who bring in their vehicles for repair, including targeted outreach to nonEnglish speakers, maintaining upto-date information on its website
as required by the consent order, and a combination of traditional and social media outreach, financial or other incentives, phone calls, and other approaches. GM has repaired nearly 60 percent of the affected vehicle population covered under the recall, but many others remain. Moving forward, NHTSA will continue to push the automaker to keep up the momentum and get the remaining vehicles fixed promptly. in other recall news, Ferrari will pay a $3.5 million civil penalty and has been ordered to comply with NHTSA oversight requirements as set forth in a consent order for failing to submit early warning reports identifying potential or actual safety issues. Federal law requires large manufacturers and affiliates of large manufacturers to submit comprehensive EWR reports on a quarterly basis, in order to provide notice to the department of potential safety concerns. Ferrari, an affiliate of Chrysler, admitted that it violated the law when it failed to submit required reports to NHTSA over a three-year period, and failed to report three fatal incidents. Until Fiat (which includes Ferrari since 2011) acquired Chrysler, Ferrari qualified as a small volume manufacturer and was not required to file quarterly EWR reports. However, while Ferrari was not required to file quarterly reports, it must report fatal incidents nonetheless. In addition to the civil penalty, the consent order requires the automaker to improve its processes for EWR reporting, to train personnel on the EWR requirements, to communicate these improvements to NHTSA, and to retroactively submit all EWR reports. The consent order is immediately enforceable in federal court if any terms are violated.
12/8/14 5:02 PM
12/4/14 4:42 PM
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Monthly Payments Hit High Auto finance and auto delinquencies rose again in the third quarter as monthly payments reached an all-time high. Auto loan delinquency rates jumped nearly 13 percent in the last year to close the third quarter at 1.16 percent. At the same time, auto loan debt rose for the 14th straight quarter to $17,352. The latest TransUnion auto loan report also found that delinquency rates increased most for the youngest population subset with those under the age of 30 seeing a nearly 18 percent rise. The data provided are gathered from TransUnionâ€™s proprietary Industry Insights Report (IIR), a quarterly overview summarizing data, trends and perspectives on the U.S. consumer lending industry. The report is based on anonymized credit data from virtually every credit-active consumer in the United States. The auto loan delinquency rate (the ratio of borrowers 60 days or more delinquent on their auto loans) increased to 1.16 percent in the third quarter, up from 1.02 percent in the third quarter of 2013. Auto loan delinquencies also experienced a quarterly increase due to seasonality from 0.98 percent in the second quarter. All but two states - Hawaii and Oklahoma - experienced an increase in their auto loan delinquency rates between the third quarter and the third quarter of 2013. The largest delinquency increases occurred in Nebraska, South Carolina and New Mexico. TransUnionâ€™s analysis also found
that auto loan delinquency rates increased across all age groups. According to its latest State of the Automotive Finance Market report, the average loan amount for a new vehicle was $27,799 in the third quarter, up $1,080 from the previous year. Used vehicle loans increased $676, reaching $18,576 over the same time period. With the continued growth in loan amounts, the quarterly findings also showed consumers leasing at a higher rate, as well as taking out longer loans. The report found that leasing accounted for 29.1 percent of all new-vehicle financing in the third quarter, up 7.1 percent from a year ago. New vehicle loans in the 73- to 84-month range grew by 23.7 percent compared with the previous year, while used loans in the same range grew by 18 percent from a year ago. Furthermore, the report found that the average monthly payment for new and used vehicle loans increased from the previous year. The monthly payment for a new loan reached $470, up $12 from a year ago, while the monthly payment for a used loan reached an all-time high of $358, an increase of $8 over the same time period. Additional findings from the report showed that interest rates for new vehicle loans increased slightly in the third quarter, climbing 4.7 percent from a year ago. However, despite the growth, these rates have decreased each quarter in 2014. Interest rates for used vehicle loans decreased to 8.5 percent in the quarter.
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NADA Used Car Guide analysts have determined what key factors will push down the value of some used vehicles steeply in 2015. The number of years since the last redesign, amount of competition within the vehicleâ€™s segment, and the quality of the design are all factors in determining used values. New vehicle redesigns have a substantial impact on used vehicle prices; 1-year-old vehicles are typically 15-20 percent more expensive than a 2-year-old vehicle, but redesigned 1-year-old vehicles add an additional 15-20 percent premium on top of those figures. Secondary criteria that also influence the value of redesigned used vehicles include horsepower, torque and fuel economy. Surprisingly, reliability, warranty and safety characteristics are dwarfed by the power and fuel economy traits previously mentioned. The year 2015 is already set to go down as one of the most important
in automotive history when viewed through the eyes of the consumer. Manufacturers will churn out 34 redesigns of existing models by yearend, beating the 22 vehicle average since 1989. To compound spending matters for consumers trying to decide between buying new versus used, buyers will have 283 new models to choose from in 2015, up 99 percent since the 1990s. With new model debuts outpacing model exits consistently over the last 25 years, 2015 marks the second highest number of redesigns in a year since 1989; only 2007 had more, with 41 revisions. In related news, the NADA Used Car Guide provided a group of figures on the one-year value retention of all new or heavily revised luxury model vehicles within the U.S. market. Of the 10 luxury vehicles making the report, the 2014 Mercedes-Benz CLA 250 had the lowest typicallyequipped MSRP ($35,305).
12/8/14 3:09 PM
PEOPLE IN THE NEWS Auction Group Names Sales VP
Recon Firm Hires Hall of Famers
XLerate Group (formerly American Capital Automotive ReconditionAuto Auction Group) announced that ing Services announced the appointPat Dudash has joined XLerate as its ment of two National Auto Auction senior vice presi- Association Hall of Fame memdent of sales. bers to its board XLerate operof directors – ates physical and Tom Cunningsatellite sales in ham and Tony California, Texas, Moorby. Florida, South Cunningham Carolina, Missisretired from his sippi and Wisposition as direcconsin. tor of remarketDudash received ing strategy for Pat both his bachFord Motor Co. Dudash Tom elor’s degree and in 2002. his MBA from Florida State University. Prior to that, Cunningham Cunningham was a U.S. Air Force officer who flew Industry Vet Joins Sale combat missions during the VietWayne DeLoach, CEO of South- nam War and served as an instructor eastern Auto Auction, announced pilot. Additionally, he served on staff that Bill McCready was brought on at the U.S. Air Force Academy and in November to fill the newly cre- the Pentagon. In addition to his new duties at ated position of vice president of opCARS Recon, he serves on the boards erations. McCready, an IARA certified auto- of several small non-profit organizamotive remarketer, has more than 10 tions and foundations, including the years of experience in the automo- Youth Crisis Center of Jacksonville. Moorby arrived in the U.S. from tive industry, most recently holding a leadership role with Charleston his native England in 1982. Upon his arrival, and at the direction of Mike Auto Auction in South Carolina. At Southeastern Auto Auction, Richardson, he along with Nick McCready will be responsible for Snow and Richardson, formed Andriving business efficiencies and glo American Auto Auctions, a sister DAA Alaska_UCN-1-2-Dec15-PRINT.pdf 1 12/5/14 2:23 PM overseeing all auction operations. company to British Car Auctions.
The business later became known as ADT Automotive. Moorby served in various leadership capacities, including CEO from January 1997 to October 2000. Upon the sale of ADT Automotive, Moorby served as executive vice president of ADESA Corp., where he was responsiTony ble for corporate Moorby development. He has been a member of the board of trustees of the National Independent Automotive Dealers Association since June 2006.
Manheim Creates New Position
Manheim has selected Shane O’Dell as senior vice president of wholesale services, a new role within the company. Manheim’s wholesale services include vehicle transportation, reconditioning, condition reporting, export and more. He will report to Janet Barnard, chief operating officer of Manheim North America. O’Dell will be responsible for key business strategies around Manheim’s third-party logistics.
This includes focusing on Ready Auto Transport, the company’s transportation business. In addition, O’Dell will lead and develop a multi-year plan to strengthen and grow wholesale services revenue. Jerry Tassone, president of Ready Auto Transport, will report to O’Dell. In 2013, O’Dell became chief operating officer of NextGear Capital, the world’s leading independent inventory finance company. He was a key member of the team that led the integration of Dealer Services Corporation (DSC) and Manheim Auto Finance Solutions (MAFS) that formed NextGear Capital. A veteran with 20 years in the industry, O’Dell oversaw execution of day-to-day operating activities and provided strategic direction on revenue growth and risk mitigation at NextGear Capital. He also directed short-term and long-range planning and budget development to support strategic initiatives through established performance goals and metrics. O’Dell began his career with Automotive Finance Corporation (AFC) in 1995. At AFC, he served as branch manager and regional manager. He was a founding member of DSC and served as both regional vice president of operations and chief operating officer.
12/8/14 5:04 PM
Merrill Hitchcock, owner, Merrill’s Motors, Winterset, Iowa: “I deal mostly with (vehicles) $10,000 and under and I don’t do buy-here, pay-here. I just do regular financing. “I have a lot on the highway and a service department a few blocks away. The shop business is what (gives us) our cash flow. “I’ve been in business – in one form or another – about 36 years. “Normally, I try to keep 20 to 25 cars in stock. I like to sell two a week, or eight a month. Ten would be a great month. “I get my vehicles mostly from the two auctions in the Des Moines area, the Des Moines Auto Auction and ADESA Des Moines. The idea is that you know all the players. You know whom you’re buying from. I try to strictly buy from dealers that I know. “Starting in September and through October and November, things have been really slow.
“The big thing (in this area) is four-wheel drives this time of the year. So I stocked up a bunch back in September, but I’m sitting here thinking I did the wrong thing. “I’ve been on the board of the Iowa Independent Automobile Dealers Association for 10 years and I talk to a lot of people. I keep up on this stuff. The biggest problem regular dealers have is that about one out of every three people can’t get financing. “Our other issue is that people have sticker shock. They haven’t purchased any car for three or four years and the $3,000 cars we had three years ago are now $6,000. That’s just the honest truth. “Our average model year is about a 2004. I try to keep them under 130,000 miles. “Pickups sell year-round. I’m going to guess I run 60 percent pickups and sport utility vehicles and 40 percent cars. “The last vehicle I sold was a 2001 Chevrolet Silverado extended cab four-
:gehad]\ÛZqÛA]^^j]qÛ9]ddYfl wheel drive. It had one owner and 124,000 miles. I sold it for $8,995. “Every car I buy goes through an inspection and repair before it goes out on the lot. I probably average $700 a car. “For advertising, I use Cars4Sale.com and I use a local shopper that goes to most of southern Iowa. “People say the economy’s bad and maybe it is, but people still have to get back and forth to work. So I still think 2015 will be better than this year. You always have to do things to make your business better.”
Terry Wolfgang, sales manager, S&S Auto Sales, Hudsonville, Mich.: “We’ve been in business 22 years. The owner still does a lot of wholesale business, too. “We have a small operation, carrying about 35 to 40 cars. We average about 15 sales per month. “But people are more conservative with their dollars here in West Michigan.
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They usually don’t replace a car unless they need one. I think people have withdrawn a bit since the last recession and are reevaluating how they spend their money. “We buy our cars primarily from auctions, though we will buy some off the street. We’ll buy some off-lease vehicles and some rental cars. “We have our own shop for our own use, but we don’t really do any outside work. “(Reconditioning costs) per unit is probably a little less. The reason is that we went to a little better vehicle over the last year-anda-half. “I think the biggest thing dealers have to do is adjust for the market. It’s constantly changing – always has, always will. So right now, with gas prices down, the prices of bigger vehicles and trucks are up. Our small-car sales have slowed. You just have to analyze the market. What are people asking for and what do you stock? “Three years ago, we were
selling a ton of minivans. Right now, minivan sales have gone back down. “Our average price range on the lot is $6,000 to $12,000. “It’s about a 50-50 split between trucks and cars. “We primarily sell domestics. We would probably handle more imports, but they are hard to come by and they are pricier. “For marketing, we have our own website like most dealers. We also advertise on AutoTrader.com, Craigslist and some local smalltown newspapers. “(One big challenge) is finding used pickups that are two to six years old. The prices of new trucks are so high that many people, especially people who use them for work, aren’t willing to pay those prices. “One recent truck we sold was a 2011 Ford F-250 Super Duty diesel, with 97,000 miles. We sold that for $27,000. “I think we’ll see some improvement in 2015. A lot will depend on the optimism of the people.”
WHOLESALE MARKETS ALABAMA
Kelly Terrell, general manager, Deanco Auto Auction, Dothan, Ala.: “We’ve been in business 12 years, going on 13. “We’re running three to four lanes, but we have six. “We’re running probably around 350 cars. We’re up a little bit from this time last year. “Sales percentages are somewhere between 55 and 60. “The number of buyers fluctuates, but we’re up slightly from last year. “We draw buyers from Alabama, Georgia, Florida – the surrounding areas. “The year seemed to be going really well for dealers, then October hit and it kind of stalled. “Usually, during an election season, this happens. But it seems to be picking up. “We are mostly a dealer (consignment) sale, so tax season is a good time. “Everybody’s asking if this is going to be a good tax season.
“Our non-dealer consignment is from local credit unions, title pawn (companies) and finance companies. “We have in-op sales every other week. On average, we’re running 40 to 50. “It’s a little weaker than I’d like, but I think the price of metal is down a little. “Online activity is steady. “We do really well in trucks. “The age of the trucks does not necessarily matter and the mileage doesn’t necessarily matter. “Trucks are just really strong at our sale. “The lower-dollar stuff has just been steady. It hasn’t been going crazy. “With the mid-range, if the dealers need it, they will pay all the money for it. “Our average price overall – with in-op – is about $5,000. “But without in-op, it’s probably $6,000 to $6,500.”
Compiled by Jeffrey Bellant TEXAS
Lori Pidgeon, general manager, El Paso Independent (EPI) Auto Auction, El Paso, Texas: “We’ll be in business four years as of Feb. 1, 2015. “We have four lanes and we’ll run three or four lanes (depending on volumes). “Our volumes have been consistent. There haven’t been any huge spikes (or dips). “So we’ve been running 350 to 420, depending on the week. “For the whole year, our sales percentages have been averaging 55 percent. They are a little higher toward the end of this year. “We started out slower this year than we did last year. There were some government contracts that were delayed. So that slowed us down at the start of the year. “But it’s been a lot better and we’re picking up steam. “We average between 190 and 230 dealers in the lanes. That’s about the
same as this time last year. “We get buyers from all over Texas. We get some from Denver, New Mexico and some regular buyers from Phoenix. We also get a lot of buyers from Juarez (Mexico). But Mexico has (limited) the number of cars that can be imported into Mexico. They even shrank the port of entries down, so here in El Paso, there’s only one port of entry, Santa Teresa. But it seems to be loosening up a little bit. “There has been a changing of the guard in some of the new-car stores. General managers or the ownerships have changed because some of the oldschool dealerships were bought out by other people. There’s been a transition that way. “So it’s been steady, but I’d like it to grow a little faster. “We’re a 70-30 split between dealer consignment and commercial consignment. “We don’t have any rentals to speak of. (Our commercial units) are mostly
repossessions. But we have U.S. Bank, Santander and PAR. GM Financial just came on board. Not only do we have repos, we’re also starting to see some off-lease units come in. “Since we’re a border town I have a government contract, too. We run a sale once a month for GSA. We run about 100 each sale. We get a little bit of everything. We get passenger vehicles, a lot of buses, ambulances, etc. Those are highdollar sales. “We also run about 20 salvage units every week. “Our average price per car is $6,100, when everything’s said and done. “I think it’s going to be a good year (coming up). People are anticipating the upcoming lease returns and being able to handle those volumes without flooding the market. A lot of the consignors are saying they want to spread the cars out and not stick them in one area or flood a market.”
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22,552 20,208 2,344 33,268 3,163 24,604 5,425 61 15 0 1,876 12,219 2,129 5,550 4,540 50 12,269 69,915
19,424 17,689 1,735 27,985 2,305 20,837 4,511 209 123 1 1,558 10,835 2,185 4,964 3,686 40 10,875 59,803
249,095 224,989 24,106 356,075 34,584 260,969 58,637 1,428 457 1 19,134
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Ford/Lincoln/Mercury Ford / Mercury Lincoln GM Buick Chevrolet GMC Oldsmobile Pontiac Saturn Hummer Cadillac Saturn through 2009 Chrysler/Dodge/Jeep Chrysler Dodge Jeep Memo: Fiat Memo: Chrysler w. Fiat Total Domestics
134,181 25,222 61,737 47,222 581 134,762 758,486
209,436 189,505 19,931 316,754 25,221 236,720 48,374 4,255 2,184 12 16,833 112,737 23,220 51,991 37,526 291 113,028 655,772
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16,495 3,773 10,493 1,588 29,100 6,307 8,138 4,261 3,593 73 4,285 88,106
19,229 207,996 3,493 38,193 9,930 127,043 1,103 19,016 30,855 327,324 5,812 69,356 6,118 87,812 3,094 44,508 3,529 39,361 48 736 3,396 42,410 86,607 1,003,755
228,405 38,374 105,786 10,613 342,209 66,534 69,912 31,479 34,719 679 33,823 962,533
Audi Bentley - EST. BMW Fiat Jaguar Land Rover Mercedes-Benz Smart MINI Porsche Volkswagen Maserati Volvo Car Total European
4,168 30 8,821 50 422 958 9,685 7 782 1,034 7,827 44 1,103 34,931
3,612 30 7,008 40 262 605 8,835 12 763 929 7,139 38 805 30,078
36,168 330 75,869 291 3,145 5,827 89,260 89 6,357 9,161 86,824 382 9,382 323,085
Total - EST.
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- Providing Reliable Transportation for over 19 years - A Premium Auto Transport Service Working With You for Transportation Solutions
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Honda Acura Nissan Infiniti Toyota Lexus Hyundai Kia Mazda Mitsubishi Suzuki Subaru Total Asian EUROPEAN
42,674 330 93,038 581 5,242 10,729 107,800 78 8,568 10,732 84,658 393 12,865 377,688
176,488 2,139,929 1,941,390 Source: Autodata Corp.
12/8/14 11:52 AM
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES DECEMBER 2014
SOURCE: BLACK BOOK
2013 MODELS Domestic Cars Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan Import Cars Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan 3.5 Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape SEL 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES Jeep Grand Cherokee Laredo 4D Utility 4WD
Dec-13 $22750 $27600 $12450 $13100 $19400 $13000 $12850 $16500 $17700 $25300 Dec-13 $26200 $31150 $72000 $17000 $14000 $33000 $39400 $12100 $13800 $17850 $12400 $16500 $12950 $15650 Dec-13 $35450 $48650 $30750 $17550 $21225 $32400 $16850 $20750 $20250 $27750 $21775 $21475 $19000 $20200 $29025 $26050
Jun-14 $21200 $26800 $12650 $13550 $20800 $13950 $13350 $17600 $18000 $25600 Jun-14 $23450 $29450 $66800 $17450 $14500 $32600 $36900 $12300 $14200 $17500 $13750 $16650 $14100 $16650 Jun-14 $32300 $46650 $30200 $18400 $22200 $30700 $15600 $23000 $19650 $28100 $22750 $22000 $19400 $20900 $29500 $25250
2012 MODELS Dec-14 $17250 $23700 $9900 $10700 $17700 $11150 $10400 $14900 $15050 $21500 Dec-14 $21800 $25700 $57050 $14900 $12050 $30100 $30400 $10400 $11300 $14600 $11050 $13250 $11750 $14750 Dec-14 $28450 $42950 $28000 $14050 $22300 $27800 $12500 $19500 $17500 $25500 $21000 $20000 $18100 $20250 $28150 $23000
Projected Figures Dec-15 Dec-16 $16175 $14275 $19600 $16850 $8675 $7650 $9125 $8125 $14600 $12700 $9775 $8450 $9200 $7925 $12850 $11375 $13650 $11775 $20225 $17975 Dec-15 Dec-16 $18425 $16250 $20750 $17400 $47275 $40300 $12575 $11200 $10425 $8950 $23950 $20575 $26825 $22725 $8925 $7725 $10375 $9125 $12575 $11000 $9275 $7975 $12025 $10625 $9500 $8425 $12500 $11275 Dec-15 Dec-16 $24550 $21150 $36525 $32325 $23975 $21475 $12075 $10125 $17650 $15925 $23700 $21300 $10600 $8650 $17025 $14625 $13800 $11800 $21775 $18650 $17275 $15100 $16400 $14025 $14875 $13200 $16975 $15125 $23275 $21000 $18625 $15900
Dec-13 $14350 $21100 $9900 $9550 $15350 $9950 $9700 $13200 $14000 $21600 Dec-13 $20700 $20450 $44600 $13200 $11150 $24400 $29800 $10250 $9900 $11200 $9500 $12750 $10550 $13250 Dec-13 $29100 $40700 $23700 $18650 $12600 $18575 $24725 $11950 $18875 $13400 $25350 $18900 $18250 $15600 $16850 $24500
Jun-14 $13250 $18650 $10450 $10000 $15600 $11550 $9650 $14000 $14500 $22100 Jun-14 $19300 $19500 $40700 $13150 $11750 $22500 $27400 $9750 $10700 $12000 $10350 $12600 $11550 $13200 Jun-14 $25600 $36900 $23350 $18500 $12500 $18600 $24000 $12400 $18800 $13750 $23800 $19000 $18400 $15200 $16950 $24050
Dec-13 $20250 $22900 $11150 $11250 $17250 $11450 $11300 $14800 $15800 $21500 Dec-13 $23300 $26100 $57600 $14700 $12500 $28200 $33800 $11300 $11150 $12450 $10650 $14450 $11700 $14200 Dec-13 $32300 $45050 $26200 $20150 $14400 $19725 $29300 $14450 $20100 $15450 $26575 $20575 $18600 $17400 $19000 $27750
Jun-14 $18250 $23050 $11400 $12300 $17650 $12700 $12000 $15700 $16050 $22000 Jun-14 $21350 $25350 $50400 $14750 $13100 $26100 $31200 $11500 $12100 $13400 $11400 $15000 $13050 $14500 Jun-14 $28050 $42200 $26550 $20150 $14750 $20500 $28500 $14400 $21600 $16050 $26900 $21375 $21700 $17500 $18900 $27400
Dec-14 $15600 $20200 $8900 $9250 $15600 $10200 $9150 $13200 $13700 $18500 Dec-14 $19400 $22700 $44600 $11550 $10850 $23200 $26200 $9500 $9850 $11150 $9350 $11850 $10500 $12650 Dec-14 $26050 $37500 $24200 $20200 $11650 $20300 $26000 $10500 $19000 $13350 $23500 $19500 $19000 $16650 $18000 $26200
Projected Figures Dec-15 Dec-16 $14000 $12200 $16550 $14100 $7575 $6600 $8000 $7075 $12575 $10700 $8325 $7075 $7775 $6675 $11250 $10050 $11850 $10075 $16200 $14200 Dec-15 Dec-16 $16475 $14200 $18175 $15050 $36775 $31275 $10800 $9600 $9050 $7650 $19100 $16900 $22725 $19025 $8075 $6825 $8850 $7700 $9800 $8525 $7700 $6675 $10750 $9450 $8675 $7575 $11175 $9575 Dec-15 Dec-16 $21200 $18025 $32325 $27650 $20700 $18150 $16400 $14425 $9500 $7950 $16125 $14275 $21700 $19125 $8550 $6875 $15200 $12950 $10800 $9175 $19475 $16450 $15900 $13675 $15425 $12975 $13375 $11850 $14575 $12750 $21300 $18600
Dec-14 $10850 $12950 $5100 $7300 $11000 $6750 $6900 $10200 $11000 $15100 Dec-14 $15450 $13900 $29600 $9000 $7000 $16700 $20200 $7100 $7550 $8850 $6850 $9300 $7950 $9400 Dec-14 $20250 $31100 $17750 $16300 $8675 $16000 $22000 $9000 $13000 $9700 $13000 $14000 $12500 $11750 $10800 $18500
Projected Figures Dec-15 Dec-16 $8975 $7650 $10275 $8525 $4575 $3950 $5975 $5100 $8825 $7475 $4900 $3875 $5650 $4725 $8625 $7525 $8875 $7375 $11900 $9700 Dec-15 Dec-16 $12425 $10275 $11650 $9725 $25700 $21500 $8275 $7175 $6075 $5025 $14250 $12125 $15700 $12650 $5600 $4650 $6600 $5625 $7425 $6300 $5750 $4875 $7975 $6975 $6450 $5600 $7725 $6550 Dec-15 Dec-16 $16300 $13525 $24375 $19925 $15000 $12375 $12825 $11200 $6525 $5400 $12850 $11200 $16575 $13900 $6250 $4875 $10100 $8625 $7600 $6300 $10675 $8650 $12375 $10450 $10400 $8925 $10200 $8950 $9850 $8375 $15200 $12800
2011 MODELS Domestic Car Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Import Cars Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan Express Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility 4WD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Domestic Cars Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan Import Cars Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Dec-14 $11400 $16400 $8000 $8350 $13900 $9300 $7800 $11700 $12350 $19350 Dec-14 $17400 $18200 $35400 $10200 $9550 $19650 $22600 $8300 $8650 $9950 $8400 $10550 $9450 $11300 Dec-14 $23800 $33050 $21050 $18200 $10200 $18700 $23500 $10000 $16500 $11600 $21500 $17200 $16700 $13850 $14650 $22650
Projected Figures Dec-15 Dec-16 $10175 $8800 $12350 $10375 $6775 $5825 $6850 $5975 $10450 $8850 $7300 $6125 $6475 $5525 $10125 $9025 $10175 $8575 $14800 $12225 Dec-15 Dec-16 $14350 $12300 $13725 $11575 $30600 $25875 $9500 $8350 $7750 $6450 $16775 $14825 $18850 $15525 $6500 $5475 $7625 $6550 $8500 $7300 $6675 $5750 $9125 $8100 $7600 $6600 $8925 $7600 Dec-15 Dec-16 $18450 $15425 $27675 $23350 $17625 $15075 $14425 $12625 $7825 $6450 $14825 $13025 $19175 $16575 $7700 $6125 $12150 $10400 $9275 $7800 $16100 $13500 $14075 $12000 $12500 $10650 $11625 $10275 $12375 $10725 $18275 $15550
Domestic Cars Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cobalt LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Touring 4D Sedan Chrysler Sebring Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Import Cars Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks BMW X3 XDrive30i 4D SAV Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility 4WD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Dec-13 $12600 $17500 $6950 $8000 $12700 $8200 $8350 $11800 $13100 $17450 Dec-13 $18700 $17350 $37650 $11750 $8300 $21200 $26200 $8900 $8700 $10000 $8950 $11250 $9450 $11300 Dec-13 $24550 $36350 $21600 $16950 $11275 $17000 $21875 $10150 $16450 $12200 $16500 $15875 $16300 $14100 $13650 $21550
Jun-14 $11700 $15000 $6300 $8950 $12250 $8100 $8250 $12600 $13600 $17750 Jun-14 $17500 $15700 $34650 $11600 $8150 $19300 $24200 $8700 $9400 $10700 $9400 $11000 $10150 $10700 Jun-14 $22200 $32950 $20500 $16750 $10875 $16800 $22200 $10200 $14300 $11300 $14900 $15450 $15200 $13600 $12800 $20500
12/5/14 3:47 PM
Compiled By Jeffrey Bellant
CEO WINS ENTREPRENEUR AWARD
HONORED: KAR Auction Services CEO Jim Hallett, left, pictured at a past industry event, was recently named the EY Entrepreneur of the Year 2014 National Services Award.
Jim Hallett, CEO of KAR Auction Services, has been named the EY Entrepreneur of the Year 2014 National Services Award winner. The EY Entrepreneur Of The Year Award, a business award for entrepreneurs, encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build worldclass businesses. Hallett was recognized for transforming a traditional auction company that uses technology into a technology company that runs auctions, while nearly tripling its market cap. Today, the company provides everything wholesale-used car sellers and buyers might need, from salvage and used-car auctions to support services. He was honored at the Entrepreneur Of The Year Awards gala, the culminating event of the EY Strategic Growth Forum in Palm Springs, Calif. The winners were selected by an independent panel of judges from more than 250 regional award recipients.
Auction Donates $14,500 to Feed Hungry Owners of Corry Auto Dealers Exchange, Corry, Pa., stepped in with a donation of $14,500 to make possible a Thanksgiving effort by a local church to provide more than 50,000 meals through the international charity, Stop Hunger Now. According to the Food and Agriculture Organization of the United Nations, one in nine people in the world go to bed hungry. Corry ADE and members of Park United Methodist Church made possible this real-time expression of giving thanks through giving back to those in need. “We set a goal we knew exceeded our budget,” said Rick King, mission chair for Park United Meth-
odist Church. “Corry Auto Dealers Exchange wrote a check to sponsor this event for us. It was a fantastic blessing for the congregation of Park Church and the community of North East.” Stop Hunger Now’s goal is to end hunger by providing food and lifesaving aid to the most vulnerable. We invite news items and top-quality photos from our readers to be considered for “Around the Block.” Please include the name of a contact person and a telephone number. Send items and photos to: Jeffrey Bellant Mail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. Fax: (586) 772-9400 e-mail: firstname.lastname@example.org
12/8/14 4:31 PM
Disconnected Jottings From Tony Moorby... Eating â€œfast foodâ€? is not a common indulgence of mine. Maybe traveling on the interstates and stopping off at a known entity of one of the major chains takes the mystery and potential risk
with all the usual accouterments. Our family comes and goes at all hours, starting with breakfast, an elongated lunch service and ending in dinner, sporadically served
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out of a visit to an E.coli cafĂŠ. Recent surgery has caused a two-month hiatus from my usual culinary indulgencies and Terry has taken up the slack with an artful aplomb befitting something between a sous chef and a short-order cook. Not bad for someone having difficulty boiling water just a few short years ago. Sheâ€™s made spaghetti sauces from scratch â€“ and I mean picking the tomatoes and herbs from our own garden to the full Monty of our Thanksgiving turkey dinner
to whomever is present at the time and sheâ€™ll start over for anyone arriving late. In my day, the meal was put on the table to great familial fanfare and if you missed it you had it cold or went hungry until the next mealtime with no accommodations in between. To ease the burden, however, weâ€™ve taken the easy route of drive-thru, take out, home delivery or sending the kids out on a mission of mercy to the sushi joint if something a little more
C R O S S WO R D
esoteric than a hamburger or grilled chicken sandwich tickles the communal fancy. Weâ€™ve even stretched convenience to match trips elsewhere â€“ taking or picking our grandson up from school or a return trip from the hospital -- with grabbing a quick bite on the fly. Mind you, Iâ€™m not happy eating in the car. It requires as many arms as one of those Hindu deities like Durga. Two hands prove to be grossly inefficient unless you have the skills of a three-ring circus juggler. Bite hamburger â€“ lettuce and tomato do backflips into your lap while the mustard or mayo adjusts the pattern of your shirt. The subsequent jerking action sends French fries in all directions like Pick-a-Sticks. Five-second rule or not, they are gone and lost forever in the cleats and folds of your Corinthian leather and Berber carpet. Our small dog (yes, we still have it) finds all kinds of orts and aged nourishment for months after. Shoddily attached drinks lids spell all kinds of disas-
ter when the cascade of cola and ice nestles neatly in your crotch. The only thing worse is the coffee. And people do this while driving! Imagine a girl with a chicken biscuit, Gatorade Slushy and Tater Tots, applying make-up and sending Facebook photos of her breakfast to her myriad friends while occupying the HOV lane. I prefer to stop and go inside or take it home. Talking of coffee, whoâ€™d have thought you would be prepared to wait in a drivethru line of some 20 vehicles while people order concoctions I canâ€™t even imagine, some for the rest of the office, at prices that deserve a mortgage application. Then there are the voices, the voices! Iâ€™ve yet to make
up my mind as to whether itâ€™s the quality of the speakers or the lack of command of clearly spoken (American) English by the people at the other end of the order station speaking through a wet sponge. A lot of establishments have acknowledged this deficiency by the installation of screens that confirm your order so that mutual understanding is accomplished. Heaven forbid thereâ€™s a mistake â€“ it could cause an international incident. For an all-round experience, with polite people, great food and spick-andspan restaurants, Chick-filA takes a lot of beating. Itâ€™s very laudable that they close on Sundays. Guess when my chicken yearnings kick in?
To see past columns from Tony Moorby, visit www.usedcarnews.com/ columnists/tony-moorby
Sponsored by INSURANCE AUTO AUCTIONS
By Miles Mellor
Across 1. XC90 maker 5. Oldsmobile 2-door from the 60s 9. Wood for classy interiors 11. Jaguar founder, Sir William 12. Mercedes ___ Shooting Brake 13. Dodge Ram ___ 3500 14. Go ninety miles per hour, e.g. 16. Ghibli, for one 20. Change, to improve 21. Motorhome 22. V-___ engine 24. Brooklands or Azure
27. Steering ____ 28. Rolls Royce Silver _____ 30. Indicates the manufacturer 31. Measure of electric resistance 34. Football position, for short 36. FR-S or iQ 37. Comanche or Liberty 39. Jiffy fluid 41. Defrost 42. Mercury from the 60s 43. Starting mechanism 46. â€œ____ a beauty!â€? 47. Studebaker ____ 48. Check out Down 1. Hyundai compact 2. Needing tightening 3. Delivery vehicle 4. Approves 5. Toyota ____ Base
6. Open-bodied antique auto 7. Not as old as 8. Like a lot, in the 60â€™s 10. Modern â€œfingerprintâ€? 15. 280ZX makers 17. Police announcement, for short 18. Wheel groove 19. Creeping plant 23. Metro or Prizm 25. Noticed 26. Bad sound from an engine 27. Baseball Trophy first name 29. â€œPick a number from ___ tenâ€? 30. Cars featuring a trishield logo 32. Welcome 33. ____ Aero 8 34. GPS lays it out 35. Oversized
31 34 39
37. Saab made these type of engines 38. Lotus sports-car model 40. Test site 41. Cooper Paceman, for one 44. SSWâ€™s opposite 45. 4 to a Roman
Answers to the 12/1/14 puzzle H
G O G
Answers to this puzzle in the 1/5/15 issue. Call 1.800.794.0760 for a FREE subscription.
12/8/14 1:34 PM
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Health Forces Sale. Autobodyand small retail/showroom i n Marion NC for sale. Currently rented, very busy location on 4 lane highway next to the Blue Ridge Mountains. Shop holds about 6 cars. Sacriﬁce for 149,000. Also for sale right across the street is a working used car lot with ofﬁce a detail garage on about a third of an acre ﬂat; sacriﬁce this for 159,000, sales license not included but will negotiate it. Living quarters available also. Call 201-757-8388 or in NC call 828-442-0099
4/9/10 AUCTIONS 3:25 SALVAGE
Fastest Growing Salvage Sale in FLORIDA
TRA SALE EVERY THURSDAY Simulcast NOW Available!
Located on CONE Rd. Sale Every MONDAY 9:30 am Over 180+ units weekly Indoor VIDEO SALE located at Cone Rd. Proudly featuring: Ford Credit, Progressive, All State, Geico, State Farm, and various Fleet Lease
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WHOLESALE BUYER -REP 30 yrs exp. Fl based. Will travel, references avail. Call Michael P. 954-445-6589
EXCELLO MACHINE & WELDING WKS., est: 1921. Restorationers in cast iron. 42” Bullard, shop capacity. 973-341-1673 NJ
LOMEN AUTO TRANSPORT Serving the upper Midwest 37 yrs, 10 car haulers 800-697-0757
2015 IS HERE
RESERVE YOUR SPACE TODAY! January 19 - NADA Convention Issue Deadline Thursday., January 8
February 2 - Payment Assurance Technology Deadline Thursday., January 22
February 16 - Dealer Life Deadline Thursday., February 5
March 2 - Motorcycles
Deadline Thursday., February 19
March 16 - CAR/NAAA Conference Edition Deadline Thursday., March 5
Dealers Guide to Top Auctions (Inserted in March 16th Issue) Deadline Thursday., February 26
April 6 - 20th Anniversary Issue Deadline Thursday., March 26
TO ADVERTISE PLEASE CALL 1.800.794.0760 EXT. 107 The digital version of the Used Car News 2015 Media Kit is now available. Ask your sales rep. for your copy today!
12/5/14 10:28 AM
As we turn the corner on 2014, NextGear Capital would like to thank our customers for a wonderful year. We wish you and your loved ones a safe and happy holiday season.
H a ppy
s y a Holid
12/4/14 4:43 PM
GWC WARRANTY HELPS TURN CAR SHOPPERS INTO CAR BUYERS.
GWC Warranty helps dealers sell more cars by giving car shoppers the confidence to become car buyers. We offer our dealers and their customers a “No Worries, Just Drive” experience through outstanding service and expansive coverage options. Find out how GWC can help turn your car shoppers into car buyers!
800·482·7357 x767 | GWCwarranty.com/SellMoreCars
12/4/14 11:54 AM