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A Trio of Bills Target Dealers Who Finance By Jeffrey Bellant
California dealers are quickly lobbying against proposed laws that would target buy-here, pay-here dealers and the industry. The Independent Automobile Dealer Association of California is moving quickly to offer its input on two bills introduced by State Sen. Ted Lieu (D-Torrance) and State Assemblyman Mike Feuer (D-Los Angeles). “The legislative issues have our full attention,” said Larry Laskowski, executive director of the IADAC. “We have a meeting set up with Senator Lieu and are trying to do the same with Assemblyman Feuer.” Feuer’s bill, AB 1447, would: require auto dealers to have a price displayed on each vehicle; prohibit dealers requiring buyers to make payments to the seller in person; and prohibit a dealer (after a sale) from calling a buyer’s references, tracking
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the buyer’s vehicle with GPS technology or disabling the vehicle with ignition override technology. “This industry preys on people who have no other options for getting a car,” he said. Lieu’s bill, SB 956, would require buy-here, pay-here dealers to obtain a California Finance Lender’s license to protect consumers. It would also: Limit usedcar retail installment loans to a maximum 17.25 percent interest rate; and change the way buy-here, pay-here dealers are able to repossess vehicles by instituting grace periods and ways to make it easier for buyers to reinstate a repossessed car. Laskowski, who had scheduled a meeting with one of the lawmakers at press time, said provisions in these bill would hurt both dealers and their customers. “The potential impact to auto dealers is significant and it is likely that the bills, if passed, would have a negative effect on the credit challenged consumer. I have heard from many stakeholders in this matter who also have great concern that the bills may have far-reaching consequences.” Laskowski said if these bills were passed and forced some dealers out of business, there would likely be a spike in curbstoning. It would also have other unintended consequences. Bill Dohring, IADAC’s lobbyist, and Laskowski said under current law, $40 is taken out of a dealer’s license
Photo by the Associated Press DOING SOMETHING: California Assemblyman Mike Feuer discusses legislation with a reporter. Feurer is one of three California legislators who has introduced a bill restricting buy-here, pay-here in response to a series of newspaper articles.
renewal fee and placed with the Department of Motor Vehicles Investigation Division. That money is used to investigate claims against dealers by consumers. So if the legislation passes and forces some dealers out of business, it could actually hurt the state’s ability to investigate shady dealers. But Dohring and Laskowski believe that the association can make a strong case for battling these legislative efforts, though dealers can help by contacting their representatives. At press time, Assemblyman
Bob Wi e c kow s k i ( D Fremont) added another bill to the mix – AB 1534, – which would require dealers to affix a prominent label to a car disclosing, among other things, the vehicle valuation entity used to determine the vehicle’s reasonable market value and the date the value was determined These legislative efforts followed on the heels of a series in the Los Angeles Times critical of the buyhere, pay-here industry that ran late last year. Both Lieu and Feuer cite these articles in the press releases
announcing their bills. Laskowski and Dohring, along with others in the industry, have attacked the articles for giving an unfair portrait of the buy-here, payhere industry. The Times has continued to go after in-house finance with an article questioning lease-here, pay-here. The paper has also pushed the topic with Richard Cordray, the new head of the Consumer Finance Protection Bureau. (California also passed strict new emissions standards. See page 26.)
IN THIS ISSUE • The NIADA introduces its new legislative council. – Page 3
• A thief takes a test drive on a robbery spree. – Page 12
• NADA chairman shares his inventory strategy. – Page 8
• A state IADA names a new management firm. – Page 28
DO MORE WITH AUTOTRADER.COM. Check out the back page and see how our dealers put more to work for them.
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Group Lobbies for Bill, Helps Vets By Jeffrey Bellant
The Georgia Independent Automobile Dealers Association is again pushing for legislation that would level the playing field for car sales in the state. The group has tried in the past to address the lack of a tax on private car sales. Paul John, Georgia IADA’s executive director, said the state loses “hundreds of millions of dollars” by not taxing private sales when it does tax dealer sales. “The fact that Georgia doesn’t collect sales tax on vehicle transactions between individuals is a major problem,” John said, “and has been for many years.” John said the association, through its lobbyists Mo Thrash and John Halliburton, is pressing hard to get this issue addressed in the 2012 session, which ends in March. As recently as last spring, the group lobbied for a bill to impose a 4 percent tax on private auto sales. But John said the group’s current effort just calls for a sales tax on all car sales. The current sales tax on car sales
ranges from 6 percent to 7 percent, depending on the county. During its earlier effort, the association cited statistics from the state Department of Revenue that identified 1.1 million title-to-title transfers in the state as recently as 2007. The Georgia IADA’s leadership believes that about 50 percent or more are private sales. Most states tax private sales. “I told our lobbyists that this is the most important legislative issue for the Georgia IADA and our dealers,” John said. The association has had some success on capitol hill lately. One new law, the Temporary Operating Permit (TOP) program, went into effect in January. It requires dealers to issue TOPs at the time of delivery through the Motor Vehicle GRATIS (Georgia Registration Tag and Title System). This means the tag will be registered to the customer and the vehicle by the time they leave the lot. John said this will help law
Photo Courtesy of Georgia IADA WARRIOR: LarryDawson (center), a retired Armed Services veteran and volunteerforthe Wounded Warrior Project, accepts a check from Charles Teel (left) and Paul John of the Georgia Independent Automobile Dealers Association. The group donated proceeds from an earlier event.
enforcement fight curbstoning. The association also announced the results of a golf fundraiser that led to the donation of $12,000 to the Wounded Warrior Project. The Georgia IADA commemorated this at its
quarterly board meeting held in St. Simons Island, Ga., last month. Larry Dawson, a retired 18year Armed Services Veteran a n d vo l u n t e e r f o r t h e Wounded Warrior Project, along with executives and g o l f e ve n t o rg a n i z e r s
appeared for a photo shoot and formal presentation. Dawson is the owner of Patriot Motors with dealership locations in Thomaston and Zebulon, Ga. He also serves as a volunteer on the Georgia IADA board of directors.
Association Hires Legislative Counsel By Jeffrey Bellant
The National Independent Automobile Dealer Association has hired the law firm of a former Ohio attorney general as its new legislative counsel. NIADA CEO Michael Linn announced Ohio-based law firm Mac Murray, Petersen & Shuster LLP would handle legislative, regulatory and compliance issues for the association as of Feb. 1. The New Albany, Ohio, firm is led by former twoterm Ohio attorney general and state senator Betty Montgomery. It will add additional expertise to NIADA’s legislative and regulatory efforts in Washington, D.C., Linn said. Having a firm with government/regulatory experience will be a big benefit in representing dealers, he said. Linn said attorney Shaun Peterson, who is with the firm, has worked with independent dealers over the years.
“Shaun has attended the NIADA convention,” Linn said, “and has worked with the Ohio IADA over the past two or three years.” Peterson has also done work for the Michigan IADA, Linn said.
“Our team is well-versed in working with regulators...” – Betty Montgomery
Petersen served as senior deputy attorney general of the consumer protection section from December 2005 to January 2007. His extensive work representing auto dealers in Ohio through the Ohio IADA gives him a deep underst a n d i n g of dealer operations and concerns. Petersen will act as NIADA’s lead counsel from the firm.
Linn said Peterson has dealt with the auto industry from the perspective of the consumer, the government and the dealer, so he will be a great asset. In the N I A D A’ s announcement of the partnership, Montgomery said the coming year will be a challenge for the association and dealers. “Dealers and business leaders are still watching how the CFPB, attorneys general and the FTC will work together under new guidelines and how they will affect their businesses in an age of expanding –file photo government,” she said. “Our team is well- LOOKING AHEAD: Mike Linn, CEO of the National Independent Automobile Dealers Association, recently announced the hiring of a new law firm to versed in working with serve as counsel for the 18,000-member group. regulators across agency lines to protect the interests Murray, Petersen & Shuster ing consumer protection of small businesses and we will also be two other initiatives and assisting are honored to work with former Ohio assistant attor- businesses in complying with these programs. the NIADA more closely to neys general. Michele Shuster, and The firm replaces the bridge the gap between auto dealers and federal regula- Helen Mac Murray, along NIADA’s longtime former with Peterson, all served as general counsel Keith tors.” Additionally, advising chiefs of the Ohio attorney Whann, who resigned late C o n s u m e r last year. Whann also served NIADA on compliance g e n e r a l ’ s updates and changes in gov- Protection Section and as an assistant attorney ernment regulations to the together have more than 30 general in Ohio before his automotive industry at Mac years of experience manag- tenure with the NIADA.
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NEWS BRIEFS Consumers Concerned About Mileage
When asked “What is the biggest contributor to a cars depreciation?” more Americans choose mileage, according to an online survey conducted for CarMax Inc. Frame damage and not keeping up with regular maintenance were other major factors, according to the survey. Additionally, women were more likely than men (26 vs. 18 percent) to believe that failing to keep up with regular maintenance leads to vehicle depreciation. State Dealer Association Offers New Service
Automobile Dealers Association has implemented a new Dealer Directory on its website. The new tool was created to better connect with the associations dealer members and improve communication and trade between dealerships and customers. The Dealer Directory is a dealers portal to connect with other independent dealerships across the Carolinas. The new Dealer Directory can be viewed on the associations Web site, theciada.com. Manheim Upgrades Online Offerings
Manheim is introducing The Carolinas Independent myManheimEverywhere, a suite of
M I L E STO N E S Frank Sale Sr., the founder and- bigger location in Radford, Va., and former owner of the Radford Auto changed the name. Auction, died Jan. 18. He was 82. The Sale family still operates the Sale entered the real estate and auction. auctioneering business in 1952. He was a self-taught auctioneer, a foundC R O S S WO R D ing member of the Virginia by Myles Mellor Auctioneer Association and was inducted in its Hall of Fame in 1998. PAGE 38 Sale opened what was then called Triangle Auto Auction in Christianburg, Va., in 1977. Fifteen months later, he moved the sale to a
digital and mobile tools and services including myMobile, myLot, myAccount and myCentralAuction all of which allow customers to interact with Manheim anytime and anywhere. MyMobile expands customer access to Manheim’s products and services via mobile devices. MyLot helps customers sell vehicles directly from their lots or any location they choose. MyAccount helps customers easily manage their payments and financing online in one location and myCentralAuction allows customers to process all transactions in one
place at one time, simplifying the customer experience. NADA, NAAA Extend Pact
The National Automobile Dealers Association (NADA) Used Car Guide and the National Auto Auction Association (NAAA) announced a new agreement that will extend their AuctionNet partnership through 2016. Through the NAAA partnership, NADA Used Car Guide analyzes and distributes AuctionNet, which collects 140,000 to 200,000 raw auction transactions each week.
Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at
24114 Harper, 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 Colleen Fitzgerald, General Manager Editorial: Ted Craig, Managing Editor Jeffrey Bellant, Staff Writer Contributing Writers: Emily Caswell, Sheila McGrath, Dave Piestrzynski Columnist:
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are partial and all lists are subject to last minute changes by auto auctions, so before 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. OUR ADVERTISING APPROVAL POLICY 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 date. Camera ready ads must be received by noon on Monday prior to the issue date.
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Consumers See Little Difference The difference perceived by American consumer between the top car brands and the challengers is shrinking, according to the findings of the 2012 Car-Brand Perception Survey, conducted by the Consumer Reports National Research Center. Toyota, Ford, Honda, and Chevrolet, which have been perennial leaders in Consumer Reports annual CarBrand Perception Survey, maintained their top positions but have seen the point gap decrease. In fact, most of the top brands saw double-digit drops in their total scores. “Dramatic events in the automotive industry seem to be affecting how consumers view auto brands. Erratic gasoline prices and a struggling economy have pushed consumers to prize low operating costs and good reliability,” said Jeff Bartlett, Consumer Reports deputy editor for autos online. The Consumer Reports 2012 Car-Brand Perception Survey scores reflect how consumers perceive each brand in seven categories:
safety, quality, value, performance, environmentally friendly/green, design/style, and technology/innovation. Combining those factors yields results in the total brand-perception score. While the scores reflect a brand’s image in consumers’ minds, they do not reflect the actual qualities of any brand’s vehicles, or results from Consumer Reports testing. Toyota continues to dominate overall in brand perception, although it slipped a significant 17 points, compared with last year’s survey results. Other top brands, Ford, Honda, and BMW, saw their scores drop more than 20 points. The two leading General Motors brands, Cadillac and Chevrolet, did relatively better with only single-digit decreases. Respondents indicated the most important factor in car buying continues to be safety (65 percent). The leading brands in overall perception in Consumer Reports surveys typically excel in multiple categories. Volvo, however, has maintained a top 10 spot
for years by virtue of its safety reputation alone. This year, the brand took a dramatic 21 percentage point drop in this factor, from last year’s 70 to 49 percent. If it continu e s , this trend could drop Volvo out of the overall top 10 i n f u t u r e years and into the second tier. Several other brands are down a few points this year in terms of s a f e t y, w i t h Subaru notably dropping from 17 to 10 percent, and fell from the list of top five brands in terms of safety. Toyota had taken a hit amid its large-scale recalls a couple years ago. But in the latest results, it has remained consistent at 13 percent, year over year, which elevated it to third place because of
the other brands’ decreases. As in other areas, the Consumer Reports survey found scores edging downward in the quality factor, with Toyota, Honda, and Ford now sharing a three-way tie for the top spot and the top brands in general having less of an advantage in perceived leadership. Honda lost six percentage points, while
Toyota holds at 19 percentage points. “Brand perception can be influenced by many things, from professional road tests to marketing,” Bartlett said. “Word-of-mouth from friends and neighbors can be a slower moving, though influential contributor as ownership transitions from the Continued on page 7
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Manheim Buys Floor Planner Manheim has signed an agreement to purchase floorplanner Dealer Services Corp. “Manheim is always looking for ways to enhance its service offerings to customers,” said Sandy Schwartz, president of Manheim. “The purchase of DSC presents a great opportunity for us to broaden our lending scope and customer base. Patrick “In addition, we Brennan gain access to stateof-the-art technology and digital tools that will enhance our customers’ experience and improve the company’s efficiencies and opportunities for lending.” Manheim already has a floor planning arm, MAFS. Executives for the two companies say they will be complementary. “It’s easy to see how MAFS’ and DSC’s service platforms will complement each other and broaden Manheim’s service reach across the country,” said Brian Geitner, CEO of DSC. Geitner will remain with DSC. Both MAFS and DSC will report to Patrick Brennan, group vice president for MFS. “Manheim is always looking for ways to expand and enhance our service offerings,” Brennan said. “We’re very
optimistic that this particular acquisition will do just that.” Pending regulatory approval, the transaction is expected to close near the end of the month. Brennan said the two companies will operate independently even after the deal is completed. “Our customers should not see a big change,” he said. “Our employees with both companies will not see a big change.” Kathy Decker, group vice president for MAFS, said DSC caters more toward small, independent dealers, while MAFS is more geared toward larger dealers. “There’s not a lot of overlap in customers,” Decker said. DSC is located in many non-Manheim auctions, which will increase the company’s reach. The expansion means dealers will have access to floor planning staff at more sites than before. Brennan said one of the biggest gains for Manheim from the acquisition is DSC’s technology platform. He also said DSC staff bring decades of floor planning experience with them. Many had been in the business long before DSC started seven years ago. One veteran not coming to MAFS is DSC founder John Fuller, who will retire after the sale. Fuller is a floor planning pioneer, who also helped found Automotive Finance Corp.
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Consumers – Continued from page 5 initial honeymoon phase to the seven-year itch.” As in past years, car owners consider BMW to offer the ultimate performance machines. But its score dropped significantly from last year’s 27 percent to only 19 percent. This precipitous drop leaves the German automaker vulnerable to the two American brands known for a legacy of muscle, Ford and Chevrolet. Ford’s score, which has been relatively consistent, could have been buoyed by its iconic and laudable Mustang and its expanding range of well-received turbocharged engines. Another brand known for power, Chevrolet saw a minor drop in a year where much focus was shifted toward fuel-efficiency in its marketing. Even a new 911 wasn’t enough to allow Porsche to hold its secondplace position. Just off the chart is newcomer Fisker. This prestige brand is just now reaching market with its Karma plug-in hybrid, but it nearly tied with stalwart Porsche in perception, though awareness is relatively low. Toyota again leads the environmentally friendly/green category, likely driven by the Prius and other hybrids, as well as some creative marketing. The brand did drop eight percentage points, but it still stands tall among mainstream brands. Smart made a surprise showing this year, debuting in the top five, despite
having no new products or a sizable advertising budget. Honda again claimed the third position in the green rankings, with a solid reputation built on the company’s dedication to reduced emissions and thrifty vehicles such as the Accord, Civic, and Fit. Ford slipped slightly this year, despite introducing the new Fiesta and Focus small cars and backing them with highly visible marketing campaigns that included social media efforts and television show placements. Somewhat surprising, however, is that, after a year of seemingly endless headlines espousing the electrifying virtues of the Chevrolet Volt and Nissan Leaf, those brands didn’t spring ahead in this factor. Chevrolet remained consistent with 12 percentage points, an apparent accomplishment given the trends in this year’s survey. Nissan inched up about two percentage points, rounding to eight percent. Overall brand perception is an index calculated as the total number of times that a particular make was mentioned as exemplar across all seven categories, divided by the total unaided awareness of the brand. Interview subjects were asked what brands exemplified the traits, instead of being read a list of brands. That approach compensates for awareness level, ensuring that every brand has an equal chance of leading a category.
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PAGE 8 – FOCUS ON NADA CONVENTION
NADA Chairman Gets Creative To Source Vehicles for Stores Our best source is to get cars from people who bought them from us before and sell them another car. We’re very active calling consumers who are in the market. Our salespeople make 20 calls a day to potential customers. In our service department, we pick out cars that we know are coming in and put them on a list that says we’re looking for those cars. You have to be very creative in getting inventory these days.
of the increased oversight by the FTC? Underriner: As with any new grant of authority, it is important that it be exercised in a balanced and judicious manner. We have participated extensively in the FTC roundtable process and will continue to engage the FTC on the issues that it is examining. We are pleased the FTC has stated that, with regard to its new authority, it is not predisposed to take any particular action.
UCN: Do you attend auctions? Underriner: Oh yes. We go to Auto Auction of Montana. But there are no factory sales in the state. We buy all of that inventory online. It works well. I don’t think we’ve ever UCN: How was the transi- sent a car back because it’s tion into the car business? been misrepresented. Underriner: It was really good because the restaurant U C N: H a s u s e d - c a r business is a people business financing been an issue for and the car business is a you? people business. You’re there Underriner: Even during to make sure your customers the downturn, we didn’t have are satisfied. I will say I work a problem with financing. a lot fewer hours than I did I’ve been with the same bank in the restaurant business for 20 years. and I still work 12 to 14 hours We do all our business a day. there. They’ll buy a deal for us if we need it. We’re in very UCN: How’s your used- good shape with the captives car operation? and they’ve been buying very Underriner: We have two deep for us. used-car operations. Last year, we sold about 850 used UCN: What do you think cars between them. That’s of the Consumer Finance big for Montana. Protection Bureau? We’re signed up with all Underriner: Because the certified programs for dealers secured an exclusion our franchises. That’s a big from the jurisdiction of the part of our business, espe- CFPB, our primary focus is cially for our Honda and on developments arising out Hyundai business. Our of the Federal Reserve Board Honda certified sales were and the Federal Trade up about 300 percent last Commission. As we have year and our Hyundai certi- done in the past, NADA fied sales were up about 200 continues to engage both agencies to ensure they percent. We really decided at the understand the efficiencies beginning of last year that and consumer benefits of our that was something we were business model. This ongoing process going to take very seriously. We certified more cars, should assist federal regulaincreased training for our tors in identifying the full salespeople and advertised range of costs and benefits that would result from any more. subsequent regulatory proUCN: How are you doing p o s a l s t h a t t h e y m ay getting vehicles for your consider. used-car operations? Underriner: It’s tough. UCN: What do you think
UCN: What are your thoughts on the push for a Right to Repair law in Massachusetts? Underriner: It’s unnecessary. Independent repair shops have access to the same non-warranty information that dealers do. The repair information independent shops supposedly can’t access is readily available from third party vendors, such as Identifix, ALLDATA (an AutoZone company) and Mitchell. In addition, the industry has voluntarily created a process to address information gaps for independent repair shops. If information cannot be found, the National Automotive Service Task Force, created in 2000 as an independent, non-government entity, resolves any information issues that may arise. Since the Massachusetts’ legislature has rejected this legislation numerous times, aftermarket parts manufacturers such as NAPA and AutoZone are seeking a ballot initiative to force automakers to turn over pro-
(William Underriner, president and co-owner of Underriner Motors in Billings, Mont., is the incoming NADA president.) UCN: What’s your background? Underriner: I graduated from Western Kentucky University and then went into the restaurant business in St. Louis. I met my wife, who was a grain trader, in St. Louis. Her family owned a dealership in Billings, Mont. Her father made me an offer I couldn’t refuse to take over the family business. He had taken over the business from his father-in-law. We have two dealerships with four franchises (Buick, Honda, Hyundai and Volvo).
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UCN: Are you happy your prietary parts information so they can build knock-off term didn’t occur in the past few years? parts. Underriner: The last few UCN: Any message for years, the chairpeople have your fellow dealers? done a great job, but they Underriner: I’m very weren’t able to concentrate honored to become chair- on the dealers. They helped man of NADA, that my peers the dealers, but they didn’t elected me to this job. have the time to sit down and I’m really excited because talk to them. I’m hoping to I hope I can make a differ- do that. ence for dealers in this Of course, you never know country. what’s going to be thrown at I want to get out and meet you. as many dealers as I can, to shake their hands and find UCN: As a Honda dealer, out what’s on their minds. I you should know to expect want to know how NADA the unexpected now. can help them, how NADA Underriner: That’s right. I can make them better usually keep 130 Hondas on dealers. That’s what NADA is my lot and at one point last all about. year I was down to 10.
NADA Offers Safety Grants The National Automobile Dealers Charitable Foundation has expanded its list of philanthropic programs to include a new grant program to help new-car dealers start or promote road safety initiatives in their communities. The NADA Foundation’s new Road Safety Grant Program will provide dealers up to $500 toward the spon-
sorship of a safety event held at the dealership. The grants will be provided as a matching contribution for expenses incurred by dealers holding an event. “Dealers have been at the forefront of road safety for decades,” said Bob Mallon, chairman of the NADA Foundation. “Dealers can use these grants to start their own road
safety program, tailored to their local needs,” said Andy Koblenz, NADA vice president of legal and regulatory affairs. Dealers can use these grants to start programs to install child passenger safety seats, promote teen and senior driver safety, educate consumers on rural road safety and combat distracted driving.
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CFPB, FTC Will Work Together The Consumer Financial Protection Bureau and the Federal Trade Commission have signed an agreement to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts. The two groups oversee all car dealers between them. “The FTC has always been committed to protecting consumers and legitimate companies from bad actors in the financial marketplace,” said FTC chgairman Jon Leibowitz. “Now we have another cop on the beat, and this agreement ensures that businesses will not be doubleteamed by the two agencies.” The two agencies signed a Memorandum of Understanding. The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the new regulator, requires the CFPB and the FTC to work together to coordinate their enforcement activities and promote consistent regulatory treatment of consumer financial products and services. The agencies have supplemented the requirements of the Dodd-Frank Act on several points. Among the points the two agencies have agreed to: • Meet regularly to coordinate upcoming law enforcement, rule-
making and other activities. • Inform the other agency, absent exigent circumstances, prior to initiating an investigation or bringing an enforcement action. This notice will prevent duplicative or conflicting enforcement efforts and undue burdens on the industry. • Consult on rulemaking and guidance initiatives to promote consistency and reflect the experience and expertise of both agencies. • Cooperate on consumer education efforts to promote consistency of messages and maximum use of resources. • Share consumer complaints.
State Mulls Cooling Off Period Utah State Rep. Jim Bird has introduced a bill that will create the chance for consumers to rethink their used-car purchases. This bill modifies the Motor Vehicle Business Regulation Act by amending provisions relating to a contract cancellation option on the purchase of certain used motor vehicles. This bill requires a dealer that sells a used motor vehicle to someone other than another dealer to provide the purchaser with a right to cancel the contract within the sooner of
three business days of the date on which the contract was executed or the purchaser operating the motor vehicle more than 100 miles. It also requires a dealer that sells a used motor vehicle to someone other than another dealer to provide a disclosure notice of the right to cancel the contract in the sales contract. The bill establishes procedures and requirements for a purchaser to cancel a contract and provides that a purchaser of a used motor vehicle is not entitled to cancel a contract if the purchaser materially misrepresents
certain information. Also, if the purchaser does not exercise the option to cancel the contract within the specified time or mileage limit, the purchaser is responsible for adherence to the terms and conditions of the contract of sale. A dealer would be subject to certain penalties if the dealer fails to execute the disclosure. A motor vehicle returned by the purchaser to the dealer would not be considered sold for purposes of notice of sale and for purposes of sales and use tax.
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Test Driver Goes on Crime Spree By David Piestrzynski
When Christopher Tackett asked the sales staff at The Auto Site in Brimfield Township, Ohio, for a longer than usual test drive, it didn’t appear to be an odd request. “It just seemed like a routine sale,” said a spokesman for the dealership. “But it wasn’t.” Tackett told the salesman that he wanted his own mechanic to check out the 2006 Dodge Charger. Instead, Tackett went on a robbery spree. Tackett robbed two houses before being caught when a homeowner
walked in on him carrying out several stolen items. Tackett waited while the man called the police. He was arrested and charged with three counts of burglary. Additional stolen items from other robberies earlier that day were found inside the car. The Brimfield police learned Tackett is a suspect in several other robberies in the area. This recent series of robberies is not Tackett’s latest brush with the law. He was convicted on drug related charges in 2006 and 2007, then beat felony theft charges in 2009.
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USED CAR NEWS
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Name Calling Leads to Lawsuit By David Piestrzynski
Some unfriendly competition between two rival auto dealerships ended with a $7.5 million jury award for one dealer. Iranian-born Shawn Esfahani, owner of Eastern Shore Toyota in Daphne, Ala., was awarded $2.5 million in compensatory damages and $5 million in punitive damages by a jury last month. Esfahani took a local rival to court after the dealership called his store Taliban Toyota. He initially sought $28 million in compensatory and punitive damages in the suit. “It’s hurtful and it’s wrong,” Esfahani said of the racial slurs made by his competitor. He said he views the jury’s decision as a moral victory. Esfahani’s lawsuit claimed that representatives from Bob Tyler Toyota in Pensacola, Fla., had been telling potential Eastern Shore cus-
tomers that Eshafani was a terrorist. Esfahani’s complaint pointed out several occurrences where employees at Bob Tyler Toyota labeled his store Taliban Toyota and Middle Eastern Shore Toyota. He also claimed his competitors had been telling potential buyers that he was an Islamic militant who was actually from Iraq, and was funneling money to insurgents. Some of Esfahani’s complaints go back as far as 2009. Esfahani left his native Iran in 1980. He opened Eastern Shore Toyota in 2007. Since then, his business has grown into five stores, which employ more than 500 workers. Jeffrey Ingram, the Alabama-based attorney who represented Bob Tyler Toyota in the lawsuit, did not respond for comment. B o b Ty l e r a l s o d e c l i n e d t o comment through a representative of his dealership.
Auction Makes Push to Hire Vets Steve Simon, CEO of American Auto Auction Group (AAAG), has announced a company-wide initiative to make employment opportunities available to veterans returning from the war in Iraq. Simon says that AAAG will reach out to vets in each of its auction markets by setting a goal to hire a
minimum of two vets at each auction facility. In announcing the initiative, Simon challenged all members of the National Auto Auction Association to do the same. Simon has frequently traded his business wardrobe for khakis and fatigues in order to take blues artists overseas to entertain U.S. troops.
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Dealers Tighten Compliance TROY, Mich. – The Michigan Independent Automobile Dealers Association put a spotlight on compliance issues during a recent meeting and urged dealers to take a hard look at their policies. The association brought in LaRay Anderson of Loftus & Associates, based in Flushing, Mich., to discuss key areas of compliance that dealers should be aware of in 2012. The biggest news was the appointment of Richard Cordray to head the Consumer Financial Protection Bureau. With the appointment, the new agency will soon begin developing and implementing new rules and regulations involving consumer financial issues. Changes are coming down the pike
and dealers should keep in contact with their state and national dealer associations for updates. Michigan IADA executive director Nancy Chapman said association members should be aware of all these compliance issues through information packets and updates they’ve received. But just knowing compliance requirements is not enough, dealers have to put policies into place. They also need to make sure they use the correct forms. Anderson said the FTC and some dealer management software firms provide model forms. However, he and Chapman reminded dealers that their attorneys should review these forms.
Manheim Sheds Two More Auctions Manheim has quietly let go of two more auctions. The company sold its Manheim Missouri location to Rocket Motor Sports LLC in October. Manheim purchased what was 166 Auto Auction in 1988 and built a new facility the next year. It renamed the sale Manheim Missouri four years ago as part of a company-wide rebranding. The auction went up for sale last year and dealer Tom Schaefer led a group to buy it. Schaefer said there were some of the usual issues, like switching software
systems, but the transition went smoothly. The new owners kept most of the management and staff. “It’s been going very well,” Schaefer said. He believes this is the first auction Manheim ever sold while it was still in operation. Manheim also stopped selling wholesale vehicles at Manheim Lafayette in Louisiana. It now operates strictly as a Total Resource Auctions salvage sale. The auction company started cutting down its facility count last year when it shuttered a half dozen auctions.
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USED CAR NEWS
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Consumers Avoid Some Cars More than 40 percent of new-vehicle buyers who avoided a particular model due to quality or reliability concerns say they based their opinions on conventional wisdom or common knowledge rather than personal experience, reviews, ratings or recommendations, according to the J.D. Power and Associates 2012 Avoider Study The study, now in its ninth year, examines the reasons consumers fail to consider-or avoid-particular models when shopping for a new vehicle. Perceptions of vehicle reliability have consistently been a prominent reason for avoiding a particular brand or model. The study finds that, among buyers who avoid a particular model due to concerns about quality and reliability, a sizable proportion– 43 percent – say their avoidance was due to “the brand’s vehicles, in general, are known to have poor quality/reliability.” A smaller percentage – 38 percent – based their avoidance decision on ratings and reviews, while an even smaller proportion – 14 percent – based their decision on prior ownership of the model. “The fact that so many new-vehicle buyers may be basing their opinions about quality and reliability on preconceived notions, rather than concrete information or data, demonstrates how important it is for automakers to promote the quality and reliability of their models,” said
Jon Osborn, research director at J.D. Power and Associates. “For some brands, namely those that have created marked improvements in their quality and reliability in recent years, it’s even more vital to tell their improvement story, rather than just waiting for perceptions to change over time.” According to Osborn, it’s also important for consumers to challenge their perceptions about what they may think they know about the quality and reliability of a particular model. The automotive industry has undergone significant quality and dependability improvement during the past decade, and fierce competition has created an environment in which only the strongest brands and models can survive. Although a brand or model may have had a poor reputation for quality or reliability in the past, actual quality or reliability performance may have improved since then. Seeking reviews and recommendations from trusted sources is particularly helpful in making consideration or avoidance decisions. The study also finds that the percentage of buyers who avoided import models because of their origin has increased to 14 percent in 2012 – the highest level since the inception of the study in 2003. Conversely, the percentage of buyers who avoided domestic models due to their origin has declined to 6 percent, a historically low level.
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A new service allows independent He said he became pretty good at dealers to play with the big boys. spotting the winners. Each month, Dealers United will After leaving HomeNet, Biter research a specific product and nego- expected to continue in this directiate a price for all its tion, helping out members. vendors. At the end of every Buchanan, “We just month, Dealers United however, had will send out an informaanother idea. want to tional video and specifics His father was of the upcoming deal. a car dealer with level the The video will not only 22 stores who describe the deal but why sold off most his playing Dealers United chose the operation to get specific vendor for that into politics. He field,” particular offer. soon realized Each member-dealer how much nego– Jesse Biter will then decide whether tiating power he they want to participate lost when he in the deal. Like a daily deal service, shrunk. the price is applied if the minimum The Buchanans were working on number of dealers is met. creating a buying group and decided It’s free for dealers to join. They to team with Biter. pay when they subscribe to a deal Dealers United has already with a vendor. exceeded expectations for signing up Jesse Biter, the founder of dealers, Biter said. HomeNet, launched the company The group is open to private with his partner Matt Buchanan dealers of any size. earlier this year. Biter sold HomeNet Even individual stores from a to AutoTrader.com last year. public group can join. Biter said at HomeNet he took a lot “Our goal is not to play favorites,” of innovative products for dealers Biter said. “We just want to level the that weren’t getting their message playing field.” out to the dealers and helped them Biter hopes to sign up 30,000 gain exposure. dealers by this time next year.
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1/30/12
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
Recalls Hit Minivans, Minis Ford is recalling more than 200,000 model year 2004 and 2005 Ford Freestar and Mercury Monterey vehicles. The torque converter output shaft may fail. This condition results in a sudden loss of motive power with no warning, increasing the risk of a crash. Ford will notify owners, and dealers will replace the torque converter free of charge. The safety recall is expected to begin in the second quarter of 2012. In other recall news, BMW is recalling almost 89,000 model year 2007-2011 Mini Cooper S, 2008-2011 Mini Cooper S Clubman, 2009-2011 Mini Cooper S Convertible, 20092011 Mini Cooper JCW, 2009-2011 Mini Cooper JCW Clubman, 20092011 Cooper JCW Convertible, and 2011 Cooper S Countryman passenger cars manufactured from Nov. 14, 2006, through Jan. 18, 2011. The electric auxiliary water pump that cools the turbocharger has an electronic circuit board that can malfunction and overheat. The circuit board may smolder which could result in a vehicle fire. BMW will notify owners, and dealers will replace the water pump free of charge. The safety recall is expected to begin during February. Kia Motors America Inc. is recalling
almost 150,000 model year 2006-08 Kia Optima vehicles manufactured from Sept. 29, 2005 through Jan.29, 2008, and model year 2007 and 2008 Kia Rondo vehicles manufactured from Sept. 13, 2006 through March 21, 2008. The clock spring contact assembly for the driver’s side air bag supplemental restraint system (SRS) may become damaged through usage over time. If the clock spring contact assembly becomes damaged, the driver’s air bag electrical circuit will experience a high resistance condition potentially causing the driver’s air bag to not deploy. If the clock spring develops high resistance, in the event of a crash, the driver’s air bag will not deploy and will not be able to properly protect the driver, increasing the risk of injuries.
TrueCar Changes Billing Model TrueCar Inc. is changing some of its practices in response to complaints from dealers and states. The company has changed its billing model in Virginia to a subscription fee that is not tied to sales. All participating Virginia dealers have been notified of this change that will enable them to operate in the
TrueCar marketplace with complete regulatory compliance. In TrueCar's performance-based billing model, participating dealers paid TrueCar a flat fee of $299 for every new car sold to a customer using a TrueCar site. TrueCar has been engaged in discussions with Virginia and other
state regulators on its current billing model and will continue these discussions as it identifies solutions that are forward looking while still complying with existing laws. TrueCar will also implement additional changes to its business practices in other states and has formed a dealer council.
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State Mulls Used Car Tax Change
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PROVIDENCE, R.I. (AP) – Rhode Island lawmakers are set to review a proposal to change the way motor vehicle taxes are calculated in the face of widespread complaints from residents that they are paying too much. A House committee plans to review legislation that would base used car taxes on average trade-in prices instead of the typically higher “clean retail value” now used. The bill would also give car owners more time to appeal their assessment. Democratic Rep. Joseph McNamara of Warwick is the bill’s sponsor. He says he wants to bring “fairness,
accuracy and truth” to the vehicle valuation process. Many communities cut the car-tax exemption to the state-mandated minimum of $500 after lawmakers voted to lower the reimbursement to municipalities to that amount. In other state news, a federal judge has sentenced a used-car dealer to 18 months in prison for selling cars equipped with secret compartments to an informant posing as a drug dealer. Domingo A. Lopez pleaded guilty last October to one count of money laundering. He has been jailed since his arrest in November 2010.
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
Judge Reviews Hybrid Case LOS ANGELES (AP) – A unique small claims court case brought by a Honda hybrid car owner against the auto giant rolled back into court with a judge seeking more information about the claim of Heather Peters, who says her car failed to deliver promised mileage. Los Angeles County Superior Court Commissioner Douglas Carnahan is not asking questions about the substance of the unusual lawsuit by Peters, the owner of a 2006 hybrid Honda Civic. But he wants more information on technicalities of its filing, such as the possibility of a statute-of-limitations problem. He asked for additional legal arguments and scheduled another session of the trial in Torrance, the home of Honda’s U.S. headquarters. Testimony and arguments were Jan. 3. Peters, a former lawyer, has been using the Internet to rally other Honda hybrid owners to follow her example and go to small claims court rather than accepting a proposed class-action settlement by Honda. She left a class-action lawsuit in order to sue for $10,000 rather than agree to a proposed settlement byHonda with thousands of car owners that would give each owner $100 to $200 and a $1,000 credit on
the purchase of a new Honda. She has said that if all owners of the problem cars won in small claims court, it could cost Honda $2 billion. Peters has acknowledged that the statute of limitations for individual fraud suits like hers can be from one to four years in California. She said, however, that the filing of the class-action lawsuit “stops the ticking of the clock.” Experts on class-action law agreed with her interpretation. “The clock stopped ticking when the class-action was filed,” said attorney Clifford Pearson. Attorney Aaron Jacoby noted that the statute would start tolling again on the day she opted out of the classaction lawsuit, which was Dec. 8, 2011. He said the statute is four years. Peters bought her car in April 2006, and the first class-action lawsuit over the mileage issue was filed in March. Peters claimed the car never came close to the 50 miles per gallon promised and that it got no more than 30 miles per gallon when the battery began deteriorating. She still owns the car and wants to be compensated for money lost on gas, as well as punitive damages, amounting to $10,000. Peters said she was encouraged that the commissioner was giving the case close consideration.
Group Settles Warranty Suit Berlin City Auto Group of Portland, Maine, has settled claims that implied warranty and remedy disclaimers made when selling new cars to Maine consumers were unfair and deceptive. The Unfair Trade Practice Consent Decree prohibits the Berlin City Auto Group from stating to consumers that only the manufacturer and not the
dealer are responsible if the new car has a serious defect. Although Berlin City Auto Group did not admit any wrongdoing, the business agreed to inform past consumer purchasers of new cars that implied warranty and remedy disclaimers are retracted and that customers who were improperly turned down can seek reimbursement for repairs of serious defects.
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Regulation Pushes Electric Cars SAN FRANCISCO (AP) – Seeking to influence other states and Washington, California air regulators passed sweeping auto emission standards that include a mandate to have 1.4 million electric and hybrid vehicles on state roads by 2025. The California Air Resources Board unanimously approved the new rules that require that one in seven of the new cars sold in the state in 2025 be an electric or other zero-emission vehicle. The plan also mandates a 75 percent reduction in smog-forming pollutants by 2025, and a 50 percent reduction in greenhouse gas emissions
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PEOPLE IN THE NEWS IADA Gets New Management
Jack Tracey, p re s i d e n t o f Automotive Association Services, announced his firm will provide management services for the Maryland/Delaware Independent Automobile Dealer Association. The relationship began Jan. 1. Brad Hudson has been named AAS associate director and will assist in the manJack agement of the Tracey relationship. AAS currently provides services to the National Automotive Finance Association and the Payment Assurance Technology Association. Tracey has served as executive director of the National Vehicle Leasing Association and helped form the C o m m u n i t y A u t o F i n a n c e Association.
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The operators of the Chattanooga Auto Auction announced that Tonya Abernathy will assume the position of assistant general manager. She had previously worked as Chattanooga’s business manager. She will assist general manager Greg Price in all facets of the auction’s operations. “Tonya’s been in the auction business since she was eighteen years old,” Price said. He went on to add that Abernathy’s experience will now be put to all round use in helping the auction grow to its full potential. “She’s played many roles, especially in accounting and customer service, so we’re very pleased to have a solid auction veteran in this important position,” Price said. “It will allow me more flexible time for business development.” Abernathy said “I’m so proud to represent our company at this level and look forward to enabling future growth with our dedicated staff.” In other promotional moves, Renita Sanders has taken the position of office manager, having previously served in various officerelated jobs. “Renita knows the business well and her personality is admired by staff and customers alike,” Price said. Also, Trent Layne has been promoted to operations manager. He had been responsible for day-to-day oversight of detail and mechanic shops. Layne said he was “extremely pleased to accept this new role.” “Trent brings a wealth of knowledge to the position – we wish him well,” Price said. “Our auction continues to grow at a healthy pace and these moves assure that we are poised to take it to the next steps – congratulations to our new managers.”
CarMax Recognized Associates for Giving Back to Community
The CarMax Foundation has recognized ten CarMax Associates for the first CarMax Cares Community Service Award. Associates across the country were nominated for the CarMax Cares Community Service Award for their volunteer efforts and leadership in CarMax donation drives and other community support. Winners of the award were honored at company events, and each has selected a nonprofit organization to receive a $5,000 grant on their behalf from The CarMax Foundation. The CarMax Cares Community Service Award winners and the nonprofits selected are as follows: Nate Bonora, senior buyer, Las Vegas – He has selected Family Promise to receive the $5,000 grant from The CarMax Foundation. Marceia Egler, inventory team lead, Orlando, Fla., – She chose Houndhaven to receive the $5,000 grant. Tony Elam, fixed assets manager, Richmond, Va., – Elam selected RHEMA Connections in Augusta, Ga., which provides people in the community with needed resources that can help them get back on their feet, to receive the $5,000 grant. Niya Freeman, early collections manager, Kennesaw, Ga., – She chose The Stewart Foundation to receive the $5,000 grant as this organization encourages children to become educated leaders by teaching self-esteem, and independence. Andrea Hunsicker, senior service consultant, Richmond, Va., – On behalf of her community service, March of Dimes will receive a $5,000 grant. Chris Kay, customer advisor, Tolleson, Ariz. His team has volunteered with the Boys & Girls Clubs of Metropolitan Phoenix, which is the organization receiving the $5,000 grant. Trisha Ley, buyer, Indianapolis. She selected School on Wheels to receive the $5,000 grant. Amanda Otten, business office manager, San Antonio, Texas. . Otten chose Mothers Against Drunk Driving to receive the $5,000 grant. Marjorie Seon, business office associate, Lithia Springs, Ga., – Cobb County Court Appointed Special Advocates will be receiving a $5,000 grant from The CarMax Foundation. Sharolyn Ware, sales consultant, Memphis, Tenn., – The Metropolitan Inter-Faith Association received a $5,000 grant on her behalf. Auction Hires Rep
Brashers San Jose Auto Auction has hired Shelly Frank as its Northern California sales representative. Her primary responsibility will be to increase consignment from new and used car dealerships as well as working with banks, fleet and finance companies.
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RETAIL MARKETS ALABAMA
Ronnie Ellison, owner, Ronnie Ellison Auto Sales, Calera, Ala.: “I’ve been in business since 1988. I have one location. “I keep around 30 units on the lot. That is about the same as last year. I’ve sold as many (through January) as I had this time last year during income tax season. “But overall, I’m selling about 18 a month. It’s probably down 45 percent from (the previous year). It’s just the bad economy. “It used to be, high mileage on a car bothered people. But now they’ll drive a car with 300,000 miles before they will trade them. “I buy my vehicles from the auctions. You can still find cars. But it’s getting tougher to buy good, quality cars. That’s what I want to sell, but to find them – it is hard. “The average model year I carry is about 2002. I try to stay around the 120,000 to 130,000 mile range. They have crept up because customers are driving them longer. “I’m seeing more domestic models at the sales. I carry
more domestic, about 60/40. “I carry about 30 percent cars, 20 percent sport utility vehicles and the rest are trucks. It’s tough to find a decent mileage big SUV like a Tahoe or Expedition. They are just not out there. “I do both buy-here, payhere sales and retail sales. I do more on the buy-here, pay-here side. “My average down payment is about $2,000. Most of my contracts pay off in 12 to 18 months. If you try to run the contract too long, your car doesn’t run the length the contract. “My average reconditioning costs are $150. “I just went back to Cars.com, which has a new program. It’s bringing a lot of calls. I also use the local Mule Trader publications. “The biggest thing that’s helped me is that I put up a billboard on I-65 that goes between Montgomery and Birmingham. I’m less than a mile off the Interstate. People come by after seeing it. “My average retail price is about $6,500. That’s gone up about $1,000 a unit, mainly because we’re having to pay
Compiled By Jeffrey Bellant more for the cars. “I recently sold a 2003 F150 crew cab four-wheel drive truck. It had 175,000 miles on it. I sold it for $8,995.” WASHINGTON
Danny Archibald, owner, Archibald’s, Kennewick, Wash.: “I’ve been in business 10 years. “I have one lot and I keep 50 vehicles on it. “This time last year, I probably carried 38 cars on the lot. “The reason (it changed) for us is that we primarily sell luxury cars. Last year they were still somewhat available. This year they’ve been even more scarce, due primarily to the lack of lease returns in the marketplace. “So we had to broaden our scope and we’ve started selling vans and trucks and other things. Those are easier to buy and sell, but I have to sell more of them to make the same kind of money. “We still have luxury cars. Just not as many and we’re not selling as many. “There’s just so few luxury lease returns in the market-
place. Our business model was driven on three-year lease returns from Mercedes, BMW and the like. “We used to be able to go to a BMW sale, where there were 600 or 700 cars every two weeks and handpick the ones we wanted. Now, one a month, there might be 200 cars. “So when we used to sell a three-year-old BMW 3Series, for example, at $25,000, it was a really good niche. Now that same vehicle sells for $30,000. So it’s no longer in the used-car-buyer price range. A new car, opposed to two or three years ago, is so much more compelling. Our prices (for those luxury cars) are knocking at the door of a new-car price. “But the truth of the matter is that it’s a lot easier to sell what I’m selling now. “About 40 percent of my vehicles are still luxury. “Overall, I’m selling about 40 units per month, which is the same as this time last year. All in all, we sold fewer cars in 2011 than we did in 2010. But we’re pretty consistent at hitting our average per month.
“We’re sourcing our nonluxury cars from auctions. It’s not difficult to buy rental returns. It’s so easy to buy Caravans and Camrys (compared to luxury vehicles). “Out of 53 cars on my lot now, there are three trucks, two vans and the rest are cars. (One change) is that I now keep our truck tradeins, where I used to sell them to the domestic dealers. But we don’t go out to try and find trucks to sell. “Currently, we carry about 75 percent imports to 25 percent domestics. “The average model year is 2009 and average mileage is 25,000. We’re still buying current model rental cars and late model (2008) Lexus units, for example. “We do extensive reconditioning. It’s what we’re known for. On average, it’s $750 to $800. We sublet our recon. “ We u s e n e w s p a p e r advertising. We also use AutoTrader and Cars.com. “Thirty-one percent is repeat and referral business. “We recently sold a 2008 Lexus RX SUV with 34,000 miles. “It sold for $28,855.”
DISCOVER GE L
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
WHOLESALE MARKETS GEORGIA
Corey Sanford, general manager, ABC – Atlanta Red Top Auto Auction, Cartersville, Ga.: “We’ve been in business since October 2003. We have a dealer/public sale on Tuesdays and dealer-only sale on Friday. “We have four lanes. “The market is soft. We have not seen the increase in buying that we would normally see during tax season. “I also haven’t seen the dealers loading up and paying more for those cheaper cars to get prepared for tax season on their lots. The previous year, sales were strong (for tax season). “There’s two things going on. One, those cheaper cars aren’t bringing the money they brought in past years during December and January. I’ve had lots of cars and lots of dealers, but not as many transactions taking place as I have had in the past. “For the stuff with good miles and in good condition, the prices are ridiculous. They’re through the roof. “But when it comes to the
rougher car – the $3,000 or $4,000 priced car – then, no, they’re not bringing nearly what I think they should be this time of the year. “With that being said, our last two months were decent, just not what we had expected. “Our volumes have been about 1,200 per week. “Year over year average for us is 50 to 55 percent and we’ve always been very proud of that. But recently, the conversion rates are the problem. I hate to report this, but our conversion rate at a recent sale was 38 percent. The same week last year, we were at 48 percent. “I’m getting about 480 dealers in the lanes on sale day. That’s about normal compared to previous years. “One trend is a lot of cars have tons of miles. “Most of our buyers are coming from metro Atlanta. The rest are coming from northern Georgia, Alabama and a lot from the Chattanooga, Tenn., area. “Dealers are just saying that business is tough and prices on the good stuff are high. “We run as many new-car
•
Compiled By Jeff Bellant and Ted Craig
trades as the bigger auctions. About 80 percent of our volume is new-car trades, with the rest being fleet-lease and some repossessions. “Fleet-lease volumes have not gone down for us. They’ve been steady. One of our major consignors is PHH. Another is CNAC. “The average price coming through the lanes is $5,200 to $5,400. That’s holding pretty steady with this time last year. That’s because the nicer cars are still bringing good money. But the rougher stuff is not bringing what it should. “We run in-ops twice a month, with a typical sale at 150 units. It’s a great auction, with an 88 percent average conversion rate. “It’s just continued to grow year after year. Five years ago, we were selling about 40 once a month. Now we’re selling 150 twice a month. “The days I have the in-op sales are our busiest sales. “Anything that’s a Honda, Nissan or Toyota is selling well. “Because of all the news reports (on fuel economy), anything that’s gas-guzzling – the bigger SUVs, the bigger
trucks – those are definitely not bringing what they were bringing. “I think you’re going to start seeing a lot more cars out there in the next couple of years. I’ve heard some people saying we’re four years away from a turnaround. I strongly disagree. I think we’re a year-and-a-half to two years, tops, from this thing turning around big time.” NEW HAMPSHIRE
David Blake, general manager, Auto Auction of New England Inc., Londonderry, N.H.: “Sales in New England haven’t really slowed down. The weather has been mild. It hasn’t been a traditional winter. The market has stayed pretty strong. We saw a slight dip, but not like the usual slowdown. “At the same time, we haven’t seen a slowdown in the truck market despite the weather. “Dealers’ spirits seem up. Everybody seems in touch with the idea that the market is changing for the better. “Over the last six or eight months, we’ve experienced
an increase in fleet-lease volumes. “We have plenty of cars. That was more of a challenge in the fall. We’ve been able to maintain some strong relationships. Every consignor seems to have more inventory than they did last year. “The sport utility market is also strong. We sell a lot of Volvos and a lot of domestics. “We sell a lot online, so anything that seems like a challenge we’re able to offer in other areas. We’re on Auction Pipeline. “We’re increasing our online sales. Dealers are growing more comfortable as they realize the auction can provide them with a service without them being here physically. We have gained their trust in the past few years. It takes a while to build that comfort level. “For the physical sale, we get dealers from all over the place. The Northeast traditionally is a popular place for people to fly in and do business. We’re 15 minutes from Manchester airport. You can pretty much fly in there from anywhere now. And we’re 40 minutes from Boston’s Logan airport.”
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UCN_32
1/27/12
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11:20 AM
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
MONTHLY DEALER CONSIGNMENT AVERAGES CURRENT YTD, THROUGH NOVEMBER 2011
Avg Sale Price
Avg. Mileage
Very competitive pricing Unparalleled service and support Unsurpassed quality
Avg Sale Price
Avg. Mileage
Pickup
Compact Car
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SOURCE: MANHEIM CONSULTING
Jan 2011
$5,574
167,977
Jan 2011
$11,485
241,938
Feb 2011
$5,840
138,675
Feb 2011
$11,378
207,182
Mar 2011
$6,380
132,723
Mar 2011
$11,375
218,117
Apr 2011
$6,904
141,567
Apr 2011
$11,310
249,860
May 2011
$6,960
151,732
May 2011
$10,944
257,942
Jun 2011
$6,921
163,865
Jun 2011
$11,246
244,358
Jul 2011
$6,966
171,951
Jul 2011
$11,632
236,312
Aug 2011
$6,469
170,352
Aug 2011
$11,425
221,932
Sep 2011
$6,173
178,306
Sep 2011
$11,162
226,054
Oct 2011
$6,013
184,213
Oct 2011
$11,198
230,556
Nov 2011
$5,911
187,234
Nov 2011
$11,325
232,494
YTD AVG:
$6,391
161,230
YTD AVG:
$11,318
232,437
Sports Car
Fullsize Car Jan 2011
$5,706
205,920
Jan 2011
$10,888
166,991
Feb 2011
$5,725
156,052
Feb 2011
$11,141
139,993
Mar 2011
$6,213
154,299
Mar 2011
$12,811
127,326
Apr 2011
$6,370
175,633
Apr 2011
$13,748
136,541
May 2011
$6,409
191,839
May 2011
$13,663
147,790
Jun 2011
$6,606
200,729
Jun 2011
$13,675
154,174
Jul 2011
$6,394
204,776
Jul 2011
$13,208
169,083
Aug 2011
$5,871
197,940
Aug 2011
$12,361
182,694
Sep 2011
$5,927
200,019
Sep 2011
$11,738
194,997
Oct 2011
$5,923
205,637
Oct 2011
$11,654
193,669
Nov 2011
$5,911
187,234
Nov 2011
$11,270
192,558
YTD AVG:
$6,103
188,659
YTD AVG:
$12,477
161,149
Jan 2011
$12,165
208,791
Jan 2011
$11,929
202,522
Feb 2011
$12,030
169,778
Feb 2011
$11,864
167,964
Mar 2011
$13,073
162,273
Mar 2011
$12,180
172,711
Apr 2011
$13,935
174,350
Apr 2011
$12,196
203,457
May 2011
$14,154
190,121
May 2011
$11,864
222,767
Jun 2011
$14,339
198,680
Jun 2011
$11,996
218,430
Jul 2011
$14,334
207,148
Jul 2011
$12,075
217,344
Aug 2011
$13,503
209,612
Aug 2011
$11,678
209,567
Sep 2011
$13,417
218,151
Sep 2011
$11,592
212,585
Oct 2011
$12,921
224,769
Oct 2011
$11,496
215,675
Nov 2011
$12,901
222,996
Nov 2011
$11,590
219,582
YTD AVG:
$13,353
196,826
YTD AVG:
$11,873
204,786
Jan 2011
$5,683
193,927
Jan 2011
$5,785
236,998
Feb 2011
$5,962
155,439
Feb 2011
$5,988
189,157
Mar 2011
$6,615
153,078
Mar 2011
$6,371
186,508
Apr 2011
$6,966
169,797
Apr 2011
$6,687
209,042
May 2011
$7,075
181,006
May 2011
$6,425
230,040
Jun 2011
$7,034
186,828
Jun 2011
$6,514
232,574
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Jul 2011
$6,998
195,245
Jul 2011
$6,567
245,336
Aug 2011
$6,547
194,901
Aug 2011
$6,110
241,083
www.SterlingCreditCorporation.com
Sep 2011
$6,155
200,776
Sep 2011
$5,877
244,852
Oct 2011
$6,039
202,140
Oct 2011
$5,834
257,245
Nov 2011
$6,078
205,647
Nov 2011
$5,853
263,034
YTD AVG:
$6,492
183,692
YTD AVG:
$6,203
228,128
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UCN_33
1/27/12
11:22 AM
Page 1
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UCN_34
1/27/12
12:28 PM
Page 1
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES DECEMBER 2011
SOURCE: BLACK BOOK
2010 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 Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Pontiac G6 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 Galant 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 Cadillac Escalade Base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Ford Edge SEL 4D Utility 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 Dakota Bighorn Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD
Dec-10 $21200 $29550 $8650 $12300 $15200 $11250 $15500 $21450 $23500 $11550 Dec-10 $28800 $27200 $71700 $15500 $11550 $28800 $38800 $11300 $13700 $15000 $11200 $14250 $11400 $14500 Dec-10 $45500 $31900 $20300 $19900 $17700 $20550 $29375 $15775 $14800 $18325 $22075 $19150 $21725 $19875 $22350
2009 Jun-11 $20600 $28400 $11000 $14200 $16200 $13500 $17800 $21200 $22900 $13400 Jun-11 $27800 $27800 $67600 $16450 $14100 $28200 $41600 $13700 $15400 $16700 $13900 $16450 $13850 $16300 Jun-11 $47350 $32600 $22000 $20100 $18300 $19350 $26975 $14975 $16000 $18875 $20775 $19200 $22275 $20275 $21850
Dec-11 $18200 $23100 $8850 $11400 $14000 $11450 $14700 $19800 $23650 $12500 Dec-11 $25800 $25200 $65300 $14050 $11900 $27400 $37200 $11500 $12600 $13900 $11950 $13650 $11050 $14800 Dec-11 $45050 $30950 $18950 $18525 $16075 $16850 $25575 $13900 $13900 $15675 $18000 $18000 $20825 $17325 $20950
Projected Figures Dec-12 Dec-13 $16350 $14150 $20900 $17700 $8200 $7100 $10300 $8900 $12450 $11100 $9950 $8400 $13300 $11300 $15900 $14500 $19050 $16050 $10500 $8800 Dec-12 Dec-13 $22150 $18950 $21850 $18600 $50200 $43200 $12825 $10950 $10600 $8900 $22250 $19250 $30500 $25100 $9050 $8350 $11900 $10650 $12900 $11650 $7800 $7075 $12450 $11050 $10000 $8800 $13700 $11750 Dec-12 Dec-13 $40650 $35900 $26650 $23350 $18225 $15775 $17425 $16325 $14825 $11975 $16000 $14250 $22200 $19275 $11675 $10250 $12850 $11050 $15550 $13875 $16725 $14375 $16375 $14750 $18675 $16025 $16050 $14050 $19050 $16650
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 LX 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Pontiac G6 Base 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 Galant 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 Cadillac Escalade Base 4D Utility AWD Cadillac SRX 4D Utility AWD V6 Ford Edge SEL 4D Utility 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 Dakota Bighorn Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Taurus X SEL 4D Utility FWD Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD
2008 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 LX 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Pontiac G6 Base 4D Sedan 4 Cyl 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 Sedan Mercedes-Benz E Class E350 4D Sedan Mitsubishi Galant 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 Cadillac Escalade Base 4D Utility AWD Cadillac SRX 4D Utility AWD V6 Ford Edge SEL 4D Utility 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 Dakota SLT Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Taurus X SEL 4D Utility FWD Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD
Dec-10 $11300 $19750 $6400 $9050 $13350 $7800 $11650 $11950 $18900 $8450 Dec-10 $19800 $18300 $35000 $12550 $8550 $21800 $24600 $8800 $11400 $12200 $8900 $11500 $8900 $12050 Dec-10 $35250 $20600 $15925 $16475 $12300 $16600 $23500 $12075 $10225 $13825 $16500 $15600 $13200 $15450 $18875
Dec-10 $13050 $24050 $7500 $10650 $15050 $9000 $13150 $14500 $20600 $10000 Dec-10 $25200 $22500 $62700 $13900 $10000 $24800 $31400 $9500 $12300 $13100 $9800 $12800 $10050 $13300 Dec-10 $39800 $23650 $19200 $18450 $14800 $18850 $25975 $13075 $12750 $16525 $19125 $17900 $16700 $17350 $20525
Jun-11 $13400 $22000 $9100 $12250 $15900 $10650 $14600 $13550 $19700 $11500 Jun-11 $25000 $23500 $60000 $15050 $11900 $25200 $33400 $11500 $14200 $15000 $12250 $15000 $12300 $14700 Jun-11 $38200 $22900 $19200 $18750 $15050 $17650 $23775 $13175 $13550 $16825 $17625 $17650 $15950 $17450 $20125
Dec-11 $12000 $18900 $7350 $10000 $13850 $8800 $12700 $12550 $19200 $10200 Dec-11 $22800 $21100 $57000 $12650 $10000 $23800 $29400 $9700 $11400 $12200 $10950 $12300 $9700 $12900 Dec-11 $37900 $21150 $16700 $17800 $13100 $15850 $23125 $12250 $11350 $14825 $15050 $16250 $15525 $15000 $18900
Projected Figures Dec-12 Dec-13 $10950 $9500 $17200 $14200 $6600 $5800 $8700 $7400 $12550 $10850 $8000 $6700 $11100 $9600 $10550 $9150 $16050 $13450 $8850 $7400 Dec-12 Dec-13 $19750 $16550 $18850 $15800 $43200 $36600 $11650 $9975 $8800 $7450 $19650 $16850 $23900 $19600 $8300 $7700 $10550 $9400 $11550 $10400 $6975 $6175 $11200 $9750 $8600 $7700 $11800 $9750 Dec-12 Dec-13 $33750 $29250 $18450 $15350 $15675 $13200 $16125 $14525 $11900 $9475 $14250 $12700 $20100 $17175 $10250 $8775 $10700 $9250 $13275 $10975 $13800 $11700 $13875 $12425 $13000 $11300 $13750 $12050 $16550 $14250
Jun-11 $9700 $14200 $6300 $8400 $12300 $7650 $11000 $8650 $14850 $8200 Jun-11 $15800 $17000 $29400 $10750 $8300 $19200 $21400 $7300 $11200 $11800 $9550 $12350 $8600 $10850 Jun-11 $26850 $17300 $15100 $15100 $10650 $13950 $18475 $10475 $8150 $11800 $13050 $13525 $9675 $13250 $16000
Dec-11 $8500 $12900 $5200 $7450 $11300 $6100 $9400 $8000 $14250 $7150 Dec-11 $14800 $15700 $27900 $9650 $7350 $17200 $19100 $6300 $9100 $9700 $8450 $10050 $7850 $9250 Dec-11 $25000 $15850 $12800 $14350 $9275 $13100 $17675 $9525 $7175 $9975 $11125 $12575 $8775 $11000 $15675
Projected Figures Dec-12 Dec-13 $7800 $6700 $11600 $9650 $4450 $3800 $5850 $4800 $8450 $7050 $5450 $4400 $8100 $6850 $6400 $5400 $11250 $9150 $6100 $4950 Dec-12 Dec-13 $12250 $10150 $12800 $10150 $21900 $17500 $8550 $7150 $6000 $5100 $14250 $11850 $15750 $12900 $5175 $4575 $7250 $6450 $8175 $6975 $5250 $4475 $8650 $7350 $6500 $5650 $8300 $6800 Dec-12 Dec-13 $22200 $18600 $12800 $10300 $10175 $7625 $12825 $11825 $6850 $4925 $11225 $9400 $14850 $12575 $8500 $7250 $6500 $5725 $8550 $6700 $9450 $8000 $10450 $9025 $7800 $6600 $9225 $7825 $12075 $10475
2007 Jun-11 $11700 $18600 $7350 $10250 $14000 $9200 $12700 $11550 $18400 $9950 Jun-11 $19600 $19500 $34500 $13850 $9900 $22200 $27200 $9500 $12900 $13700 $10850 $13650 $9850 $13300 Jun-11 $33750 $21350 $17075 $17025 $12950 $15500 $21200 $11975 $10775 $14725 $15150 $15250 $12750 $15550 $18075
Dec-11 $10600 $16500 $6250 $8700 $12600 $7550 $10950 $10550 $17650 $8900 Dec-11 $17400 $18800 $32800 $11350 $8550 $20400 $23700 $8200 $10400 $11100 $9750 $11100 $8700 $11800 Dec-11 $32800 $18700 $15225 $16200 $11375 $14300 $21100 $10875 $9425 $12900 $13050 $14100 $12025 $13350 $17750
Projected Figures Dec-12 Dec-13 $9400 $8000 $15100 $12400 $5400 $4650 $7200 $6050 $10650 $9150 $6550 $5400 $9400 $8100 $8600 $7300 $13450 $11250 $7400 $6100 Dec-12 Dec-13 $14750 $12350 $15650 $12800 $27500 $21900 $10525 $8700 $7300 $6000 $16850 $14250 $19400 $15950 $5975 $5275 $9450 $8250 $10500 $9250 $6075 $5350 $9750 $8500 $7600 $6600 $9850 $8100 Dec-12 Dec-13 $26950 $22950 $15350 $13050 $13000 $10275 $14225 $13025 $9475 $6850 $12700 $11225 $17650 $14950 $9950 $8700 $8300 $6925 $10975 $8550 $11625 $9850 $11625 $10475 $10900 $8500 $11850 $9450 $14250 $12075
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 Base 4D Sedan Ford Mustang Base 2D Coupe Ford Five Hundred SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Pontiac G6 Base 4D Sedan 4 Cyl 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 Sedan Mercedes-Benz E Class E350 4D Sedan Mitsubishi Galant 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 Base 4D Sedan Trucks Cadillac Escalade Base 4D Utility AWD Cadillac SRX 4D Utility AWD V6 Ford Edge SEL 4D Utility 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 Dakota SLT Club Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Freestyle SEL 4D Utility FWD Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD
Dec-10 $9700 $15550 $5400 $7500 $11800 $6650 $10200 $8600 $14950 $7000 Dec-10 $16000 $15900 $29800 $9950 $7350 $19000 $20000 $6750 $10050 $10650 $7600 $10500 $7900 $9800 Dec-10 $28800 $17300 $14450 $14600 $10500 $14650 $20575 $10475 $8200 $11450 $14200 $13875 $10525 $13150 $16800
UCN_35
1/27/12
11:27 AM
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UCN_36
1/31/12
36
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
.CO RNEWS USEDCA
COMPILED BY JEFFREY BELLANT
FLOOR PLANNER OFFERS FREE FINANCING FOR YEAR
W E N R U O D T E I V S VI IMPRO AND SITE B E W
Photo Courtesy of AFC
FREE: Automotive Finance Corp. recently announced its promotion to give away free floorplanning for a year during an anniversary event at ADESA Dallas.
Automotive Finance Corp. is promoting its 25th anniversary by giving away free floor planning for one year to an AFC dealer. CEO Don Gottwald announced a new national promotion recently at the company’s official 25th anniversary celebration hosted at ADESA Dallas. As part of its ongoing anniversary activities, AFC is giving away free floorplanning for a year to one lucky AFC Dealer. “The promotion includes no interest and no floorplan fees for a year, saving one lucky AFC Dealer up to $25,000,” Gottwald said. “Once registered, entry is automatic. Every vehicle floored with us between now and March 31 is counted as an entry into the contest.” The Free Flooring for a Year campaign is the second national promotion AFC has launched since beginning its 25th anniversary celebration. Bret Gilbert of Premium Pre-Owned Autos in East Peoria, Ill., won a trip for two to Indianapolis, Ind., for Super Bowl XLVI through AFC’s Big Game Giveaway. Dealers attending the anniversary event were treated to a BBQ luncheon, cake, music via a live band and special floorplan pricing for purchases made and floored with AFC. Additionally, one lucky dealer won a 51-inch Samsung TV during a giveaway, also sponsored by AFC.
D E T A D UP !
Y L I DA
SALE WINS GSA CONTRACTS
the auction submits an annual proposal for evaluation by GSA for the coming year. “This year we sharpened our pencils and submitted a best and final offer to GSA for 2012 that hit the mark,” said Beam. “We expect to see GSA units on the ground soon, and look forward to opening our doors to both dealers and the public for some exciting sale events.” 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: jeff@usedcarnews.com
A D A N
COME
T A S U SEE
9 2 1 3 # H T O BO
M
Dealers Auto Auction of Oklahoma City has been awarded both sales and marshaling contracts from GSA for 2012. The auction plans sales for the government vehicles under the contracts for scheduled Thursdays following its regular consignment sale. “We’re off to a great start in 2012 at DAA/OKC, and the GSA contract award is one more reason to celebrate,” said Bruce Beam, general manager at DAA/OKC. “Already we’re seeing more cars in the lanes and more buyers with their hands high in the air, and we expect the momentum to keep building.” Beam explains that while DAA/OKC is under contract with GSA for the 2011 through 2015 term,
USED CAR NEWS
37
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UCN_38
1/30/12
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USED CAR NEWS
Fe b r u a r y 6 , 2 0 1 2
Disconnected Jottings From Tony Moorby... Choosing a new car these days is as difficult as choosing a politician. For different reasons though. I look at the Republican slate and think “This is the best we can do? For shame….” On the other hand, the new offerings by the car manufact u re r s a re a f e a s t f o r a
lenders will quit being so nervous about funding a better behaved buyer we could have a banner start to the year. The NADA conventioneers could have something to celebrate. The stars are lining up for something good to happen for a change in the car business.
Tony Moorby • 40-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 • Awarded the Ring of Honor by NIADA • NAAA Hall of Famer
mouthwateringly hungry public to sate a long-denied appetite. I get the feeling that there is a bulge of pent-up demand and an aging car park is asking to be replaced – soon. The trading gap, the difference between the cost of a new vehicle (whilst high) and the price one is able to raise on the trade, is pretty close these days. I said a while ago that if used car prices continue to climb, the cost to trade will be attractive enough to spark a sale. If
With the litany of caveats about international affairs, sanctions, embargoes, political scuffling and the rest, we could do very well if we were left to our own devices. And this year, we suffer the mockery of democracy at its worst. It’s not just the mudslinging that offends me. It’s the cost of the mudslinging that really gets my goat. In the face of an out-of-work electorate President Obama’s war chest for re-election is now close to a quarter of a
billion dollars. The media bosses should be licking their lips – they’ll be as rich as Wall Street bankers. The others are just as bad. While Romney is posturing that he doesn’t have a monster war chest, his SuperPAC (and it is his, no matter how he likes to distance himself from the powerful contributors who, no doubt, will want their pound of flesh if he’s successful in his attempt) is awash in funds to slash the political throats of his contenders. As are the other candidates; inextricably linked to big money who tell them where to be, what to wear, what to say and whether to let the wife get a look in. There are huge hands up the backs of these guys manipulating them like ventriloquists’ dummies. I look forward to the next 10 month’s television like I look forward to a February day – with a gray, tremulous disdain. Let’s get back to the bright side. NADA’s in Vegas this year and will be as glaring and glitzy as a showgirl looking for a sugar-daddy. Las Vegas must be feeling the wealth, too. The SEMA show was huge and I’ve promised
C R O S S WO R D
myself to go next year. The Consumer Electronics Show dwarfs just about any other when it comes to space and attendees. I’ve got about three opportunities to go there this year so I’m pacing myself. I am going to the Barrett-Jackson auctions in Phoenix though, just to visit with friends and goof off, with my hands firmly planted in my pockets! Then there’s Detroit – a little limelight to bathe the Downtown in a welldeserved glow of the Auto Show for a while. I see pictures of that once-great city that absolutely tear my heart
out. Fabulous buildings have been left to go to rack and ruin along with whole streets and neighborhoods, empty as a beggar’s belly. Let’s hope that when the money is circulating again that some effort to resurrect these proud places is made, instead of bringing in the wrecking ball and the bulldozers. That would be the final insult; like a spit in the eye of a panhandler. There’s a lot to look forward to if you give yourself the chance and we Americans can show the world how to get back on our feet, one car at a time.
To see past columns from Tony Moorby, log on to www.usedcarnews.com/ columnists/tony-moorby
Sponsored by INSURANCE AUTO AUCTIONS
By Miles Mellor
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Down 1. 2. 3. 4. 5.
Across
1. Jeep (2 words) 9. Herbie, e.g. 10. Jeep 12. White/____ color 15. Temp control button 16. Every one 17. Liquids in a jiffy 19. Station _____ 21. Slow down 23. Coffee holder 24. Nothing 25. Green shade 26. Go over the limit 29. Convene 31. Lift with a special device 33. Luxury car as shown in MI4 35. Spanish for more 37. Finish
39. “Professional driver on closed course: do not _____” 42. Toyota truck 44. Menu phrase 46. Adjusted for better performance (2 words) 47. Beat the competition, in a way 50. Oakland team 51. Compass point 52. Car color 53. Front 54. More popular 55. A Cadillac
Door design Police alert Dodge SUV “Hold it!” Expense of buying a whole new car (2 words) 6. ____ Sedona 7. Mitsubishi coupe 8. Regarded as fully reliable 11. Scion ___ 13. Lodge member 14. Read only, for short 16. Neighbor of Tenn. 18. Goes with behold 20. Small VW 21. ____ Regal 22. Failed auto from the 50s 27. __ Cruiser 28. Stately tree 30. Relaxed, in a way 32. Nissan SUV 33. Shock absorbers 34. Oregon neighbor 35. Aston followers
Answers to this puzzle in the 2/20/12 issue. Call 1.800.794.0760 for a FREE subscription.
10
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49
51
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55
Answers to the 1/16 /12 puzzle
car chases, e.g. 38. Prosecutor 40. Sumptuous 41. Make use of 43. More attractive 45. Auto pioneer 48. Employ 49. Lease
T H U N D E R B I R D
R A A A B I M I A D I N M I G O H T P H C O M S T A
V E L C A N T R I A T A M C C E U N E T Y
R S C D I O O N I L S P T E E A D B B S U M S P
E B R E A A S D I I N P S C O R O U S N E T S S P E A O N G
E M I S S I O N S C Y C L E
E T U E N D U R R A L B R I F O U S T I O N
L E L N A N E C O H R A E L L P E U N N G E O R
UCN_39
1/27/12
11:29 AM
Page 1
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TD Auto Finance LLC, is a subsidiary of TD Bank, N.A. TD Bank Group is a trade name for The Toronto-Dominion Bank. Used with permission. For detailed credit ratings for the The Toronto-Dominion Bank and TD Bank, N.A. visit http://www.td.com/investor/credit.jsp. Credit Ratings are not recommendations to purchase, sell, or hold a financial obligation inasmuch as they do not comment on the market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time by the rating organization.
UCN_40
1/30/12
2:38 PM
Page 1
“THANKS TO JASON,MY CARS ARE GETTING A WHOLE OTHER LEVEL OF ATTENTION.” Jim Allera President–River Road Auto Sales North Apollo, PA
Jason Stephenson Advertising Consultant AutoTrader.com
“In 2009, business wasn’t going so well. But after talking to
is that I’m selling 50% more cars. Spotlights, Premium listings,
Jason, I invested in the Premium package. I immediately
even Fast Ads video, they all really get my cars noticed.”
saw my search results more than double. The bottom line
To hear Jim’s incredible story, visit WeWorkForYou.com/Jim.
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