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March 16, 2015

ON THE WEB: DriveTime Offers Lease Cancellations

DriveTime has introduced its Cancel Anytime Lease program across 126 dealerships nationwide. The used-car lease option allows consumers to lease a vehicle with a down payment under $1,000 and provides the ability to return the car at any time and cancel the 30-month lease agreement without negatively affecting the consumer’s credit score or incurring financial penalties.

Independent Auctions Set to Sponsor IARA

The Independent Auction Group announced that a fouryear sponsorship agreement was initiated between IAG and the International Automotive Remarketers Alliance.

Salespeople Matter More Than Media

Social media channels do not provide significant information to new car buyers, according to MaritzCX. Consumers ranked the dealer salesperson as the most important source.

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Subprime Finance Continues to Grow By Jeffrey Bellant & Ted Craig

More consumers are financing cars than ever before. Consumers financed 55.2 percent of all used-car purchases in the fourth quarter, according to Experian. The average credit score for a used vehicle financed increased 2 points in the quarter to reach 648. That seems to offset some of the concerns about a growing subprime bubble. Melinda Zabritski, Experian’s senior director of automotive finance, said more subprime consumers are financing cars, but that’s because of the overall growth in financing. “We still see subprime as being very stable,” Zabritski said. Some subprime firms are going deeper into the credit pool and taking sales from buy-here, pay-here dealers, she said. The competition comes mainly at top end of the deep subprime range; mostly consumers with credit scores between 480 and 520. Much of this competition is coming from new finance

Photo by Ted Craig BIGGER, NOT BUBBLY: Melinda Zabritski, Experian’s senior director of automotive finance,

shares her views on the state of automotive finance. companies entering the market. Dealer Henry Mullinax, president of Mullinax Auto Sales in Anniston, Ala., wor-

ries that this competition can cause bad behavior. Some independents have difficulty competing with deep subprime lenders,

Mullinax said, so they get in over their heads and cut corners to survive. It even affects reconditioning.

ADESA, ServNet Exit Multi-Platform Selling Initiative By Jeffrey Bellant & Ted Craig

Multi-platform selling, heralded as the next major step forward for the auction industry, has suddenly fallen apart as major players withdraw from the proposed system. MPS involves taking vehicles and putting them online simultaneously, across multiple platforms. ADESA was the first to pull out of the industry-wide plan to create such a system. “After lengthy and protracted efforts to create an MPS, our industry partners have been unable to agree on the best

way to execute this solution,” said Peter Kelly, president of the company’s Digital Services Group. Kelly said the proposed MPS as currently structured would subject market participants to heightened technology requirements and expenditures. ADESA also believes the proposed MPS structure and its associated economic and governance model poses antitrust risks by raising new barriers to entry for smaller industry players, reducing competition among the auctions and increasing costs for sellers, buyers and ultimately retail consumers. ServNet followed ADESA in abandoning the project. Continued on page 12

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USED CAR NEWS

March 16, 2015 • 3

Lexus, Buick Score Highest for Long Term Quality Bluetooth connectivity and voice recognition issues are the most frequently reported problems after three years of ownership, according to the J.D. Power 2015 U.S. Vehicle Dependability Study. Study findings show that technology is playing an increasingly critical role in owners’ perceptions of overall vehicle reliability, which, in turn, is impacting their likelihood to repurchase the same brand next time around. The study, now in its 26th year, examines problems experienced during the past 12 months by original owners of 2012 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality. The study has been enhanced in 2015 to better measure the quality of today’s vehicles, particularly related to new technologies and features now being offered. The study covers 177 specific problem symptoms

grouped into eight major vehicle categories. The top two problems reported by owners are Bluetooth pairing/connectivity and built-in voice recognition systems misinterpreting commands. These are also the most frequent problems reported by owners at 90 days, according to the J.D. Power 2014 U.S. Initial Quality Study. “As we’ve seen in our Initial Quality Study, owners view in-vehicle technology issues as significant problems, and they typically don’t go away after the ownership honeymoon period is over,” said Renee Stephens, vice president of U.S. automotive at J.D. Power. “Furthermore, early indications from our upcoming 2015 U.S. Tech Choice Study show that vehicle owner expectations of advanced technology capabilities are growing. Owners clearly want the latest technology in their vehicles, and they don’t hesitate to express their disapproval when it doesn’t work. Their definition of dependability is increasingly influenced

by usability.” Because issues with technology impact overall dependability, they also impact repurchase intent. The study finds that 56 percent of owners who report no problems with their vehicle say they “definitely will” purchase the same brand next time, compared with 43 percent of those who report three or more problems. Together with the fact that 15 percent of new-

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vehicle buyers indicate they avoided a model because it lacked the latest technological features - up from just 4 percent in 2014 – technology clearly plays a key role in affecting future purchase decisions. Among owners who experienced a Bluetooth pairing/ connectivity problem, 55 percent say that their vehicle would not recognize their phone, and 31 percent say the phone would not au-

tomatically connect when entering their vehicle. The number of engine/ transmission problems remains high. Nearly 30 percent of the reported powertrain problems are a result of automatic transmission hesitation and rough shifting. Six of the top 10 problems are design-related as opposed to defects or malfunctions. Continued on page 18

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4 • March 16, 2015

USED CAR NEWS

NEWS BRIEFS Sonic Sets Pre-Owned Record

Sonic Automotive reported record pre-owned results in 2014 as its first dedicated used-car store opened. The dealer group sold 110,113 preowned units in 2014, for a gross profit of $157.2 million. Sonic opened its first Echo Park facility in Denver during the first quarter. The new initiative cost Sonic $15.7 million for the year.

Copart Reports Higher Income

Copart Inc. reported financial results for the quarter ended Jan. 31. For the three months, revenue, gross margin and net income were $276.3 million, $114.9 million and

approximately $85,000 into building a community playground in partnership with KaBoom. Details of the location and community partner for the playground will be announced in coming months. The CarMax Foundation also announced a $10,000 grant to the Boys CarMax Debuts In Cleveland & Girls Clubs of Cleveland. This CarMax Inc. celebrated the open- grant came at the recommendation ing of its first location in the Cleve- of local CarMax associates. land area, which is the company’s New Auction Bows in Ohio fifth store in Ohio. CarMax’s Cleveland store will The doors opened to Ohio’s newstock more than 300 used vehicles. est auto auction March 6 in ColumDuring the grand opening celebra- bus as it began its Friday sale. tion, the firm announced that The Capital City Auto Auction is inCarMax Foundation would invest dependently owned and operated $52.2 million, respectively. These represent a decrease in revenue of $10.2 million; and increases in gross margin of $3.3 million; and in net income of $6.8 million, respectively, from the same quarter last year.

MILESTONES Art Spinella, 68, died Feb. 20 in Coquille, Ore. He was born July 8, 1946, in Brooklyn, N.Y. Spinella graduated from the University of Detroit Jesuit High School in 1964 and later received a degree in journalism from the University of Detroit. Spinella held many positions from newspaper and magazine reporter to editor, radio DJ and eventually building his own business, CNW Research, in 1992. CNW provides data to the autoCarolina_25th Mar16_UCN .pdf 1 motive industry. He was an active member of Coos

Bay Harley Owners Group. Spinella also wrote a series of detective novels. Art is survived by his wife, Stephanie; five children, Tracy Spinella, Danielle Anderson and McKae Spinella, Rick Spinella and Jesse Spinella; and six grandchildren. C R O S S WO R D by Myles Mellor

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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: Ed Fitzgerald, Jenny King, Sheila McGrath

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by Raymond and Joey Wilkes, a father-son automotive team with over 50 years experience in the automotive profession. The four-lane auction features lane side pub-style seating, so dealers can see each vehicle, while wait staff delivers refreshments. Dozens of monitors flank the arena, along with specially designed in-lane speakers and sound walls. A 60,000-square-foot auto body shop is slated for the spring. The body shop has all new equipment including five car tunnel paint booths and four prep booths. Also on site is a mechanic shop, detail facility and transportation solutions.

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Columnist: Tony Moorby Advertising: Shannon Colby, Account Manager Megan Frump, Account Manager Marie Hingst, Account Manager Circulation: Helen Thomas Production: Josie Godlewski, Media Manager Tim Montie, Graphic Designer ———

Vol. 20 • No. 24

Used Car News is published the first and third Monday of each month. 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 ads. Most lists are partial and all lists are subject to last minute changes by auto 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. 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.

CarolinaAutoAuction.com 140 WEBB ROAD, WILLIAMSTON, SOUTH CAROLINA (864) 231-7000

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3/9/15 4:40 PM


USED CAR NEWS

March 16, 2015 • 5

Santander Consumer USA Settles Federal Lawsuit Santander Consumer USA Inc. has agreed to pay at least $9.35 million to resolve a lawsuit by the Department of Justice alleging that the motor vehicle creditor violated the Service Members Civil Relief Act. The complaint and the settlement are subject to approval by the U.S. District Court for the Northern District of Texas. The settlement covers the improper repossessions of 1,112 motor vehicles between January 2008 and February 2013. The proposed consent order represents the largest settlement for illegal automobile repossessions ever obtained by the U.S. under the SCRA. The SCRA protects service members against certain civil proceedings that could affect their legal rights while they are in military service. It requires a court to review and approve any repossession if the service member took out the loan, and made a payment, before entering military service. The court may delay the repossession or require the lender to re-

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fund prior payments before repossessing the vehicle. The court may also appoint an attorney to represent the service member, require the lender to post a bond with the court and issue any other orders it deems necessary to protect the service member. By failing to obtain court orders before repossessing motor vehicles owned by protected service members, Santander prevented service members from obtaining a court’s review of whether their repossessions should be delayed or adjusted in light of their military service. The lawsuit alleges that Santander initiated and completed 760 repossessions, without court orders, of motor vehicles owned by SCRA-protected service members. The agreement requires Santander to pay $10,000 plus compensation for any lost equity (with interest) to each of these service members. The lawsuit also alleges that Santander sought to collect fees arising from an additional 352 reposses-

sions that unrelated motor vehicle lenders had conducted in violation of the SCRA before Santander acquired the loans. The agreement requires Santander to pay $5,000 to each of these service members. Santander also must repair the credit of all affected service members. For future repossessions, the settlement requires Santander to check the Defense Department’s auto-

mated database to see if a car’s owner is in military service prior to conducting a repossession. The Department of Justice first learned of Santander’s repossession practices through a referral from the U.S. Army’s Legal Assistance Program. The referral involved a claim that Santander illegally repossessed the car of a service member, U.S. Army Specialist Joshua Davis, in the middle of the

night, after having been informed that he was at basic training. The department also opened its investigation after learning that Santander used an arbitration clause included in its loan documents to prevent a second service member from pursuing systematic relief through a class action lawsuit he filed alleging that Santander had repossessed service members’ vehicles.

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6 • March 16, 2015

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Dealer Operates Unlicensed Stores A Massachusetts used-car dealer has been sued by the state’s attorney general for allegedly selling unsafe and unreliable cars, failing to make repairs that were promised or required under warranties, and operating in unlicensed locations. The complaint against Auto Number One Inc. and its owner Mark Hanna alleges that they routinely made false representations to consumers that cars were in good working order or would be repaired, about prices charged, and about warranty periods. The business allegedly failed to issue refunds to consumers who attempted to return vehicles after discovering, within days, substantial defects which made the cars unfit for the road. The AG’s office obtained a preliminary injunction against the de-

fendants, prohibiting them from advertising or selling vehicles from any location not properly licensed, or from engaging in the kinds of unfair and deceptive practices the AG alleges they have committed to date. The court also ordered the defendants’ bank accounts frozen. Auto Number One, which previously operated out of locations in Weymouth and Quincy, presently advertises vehicles for sale from a lot located in Abington. The AG’s complaint alleges that Auto Number One advertised and sold vehicles from a location on Washington Street in Weymouth, even though it did not hold a dealership license for this location and could only perform auto repairs, and advertised and sold vehicles from an unlicensed lot located on Adams Street in Quincy.

Family Settles Acceleration Lawsuit SAN DIEGO (AP) – Parents of a family that died when their Lexus sped up and crashed on a San Diego County freeway have settled a lawsuit against the former car dealer. California Highway Patrol Officer Mark Saylor, his wife, brother-inlaw and 13-year-old daughter died in 2009 when their loaner car sped

up to 120 mph, hit an SUV, flew off an embankment and burst into flames. Investigators say a wrong-sized floor mat trapped the accelerator. Relatives sued the former Bob Baker Lexus dealership in El Cajon, arguing that it ignored warnings about such problems.

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PAGE 8 - REMARKETING

EXIT INTERVIEW: BLACK BOOK’S RICKY BEGGS RETIRES (Two events occurred in 1955: wholesale value guide Black Book started publishing and Ricky Beggs was born. Beggs would spend most of his adult life looking at wholesale data and talking to people at auctions, trying to get a read on the market. Beggs is now retiring as Black Book’s editorial director effective April 1 and he shares some of his thoughts on his career and changes in the industry.) UCN: What’s your background? Beggs: I knew somebody here at Black Book and I expressed an interest. They said, “You’ve got an interview. Now it’s up to you.” I started in the editorial department and that’s where I’ve been the whole time. I’ve been very blessed

to be part of a team that is the heart of what Black Book is. If we didn’t have those good, solid market values, it would be hard to have anything else. Right off the bat, I started going to the auctions, collecting data, getting that information from the auctions and our survey people across the country and compiling that information. Almost immediately I had to make an interpretation of where the market was moving and how much of an adjustment needed to be made. At that time, it was weekly. We started our daily reports

in 2008. The amount of data we look at, the price levels of the cars and where the data is coming from has all changed. There is so much more visibility within the market, so much more transparency of values. There are also differences between electronic sales and live auctions. And, of course, the price of the cars is so much higher. The average price of a two- to six-yearold car is now more than $19,000. When I started, it was around $4,000, maybe even lower. The biggest change has been the delivery of the data, from paper to digital. There are still some print books out there, but not nearly as many.

at the compiled data and determine if the market is strong or weaker and make adjustments. It’s a combination of the atmosphere at the auctions, the attitude that the dealers have and the insight of the auction staff. We blend that with all the data.

UCN: How much did you know about the used-car business when you started? Beggs: I wasn’t connected to the car business at all. When I came in, my boss at the time said that one of the best ways to learn this business, the details of this business, is to buy and sell a few cars. If you do that using the information that you’re working on, you’ll realize what is really important. I did that and it did teach me about the industry. I worked with a few dealers to sell cars through the auctions. I learned what it took to buy one right and what made a difference in value. UCN: What has stayed It’s easy to look at a vehicle the same? and say, ‘That’s a 2010 soBeggs: The people. There and-so car.’ Well, it’s really are still great entrepre- a 2010 so-and-so car with a neurs out there in the business. The general process has stayed the same. We still look at the wholesale data. It just comes from different places and there’s more of it. We still want it to be timely; we still want it to be definitely reflective of what is happening in the marketplace. We still send people to the auctions. We still edit the data. The editors are really data analysts. They are hands on, they look

certain trim level and certain miles and certain equipment. Or a certain piece of equipment that is normally there is not. And when you’re putting your own money on the line, you pay attention. UCN: Where do you see the industry headed? Beggs: There was a time in this industry when the prices went in cycles that were pretty consistent. You would go from a tough market with low values to a strong market with high values and back to the tougher market in a seven-year cycle. Every seven years you’d go from the valley to the peak, back to the valley. Sept. 11, 2001 changed all that. Now, we don’t have those cycles any more. You have catastrophic events that affect the market and then it finds a new level. Cash for clunkers is one example. Hurricanes have driven the market one way or another. Now, you’ve got to pay attention to the market throughout the year, every year. Just because something happened at this time

last year doesn’t necessarily mean it’s going to happen again this year. We’re not going back to the same cycles and trends. Looking forward, the market will continue to respond to events more than in the past. In the short term, we’re back to a pre-recession market. New-car sales are back to where they were. Depreciation levels aren’t far off from where they were before the recession. Financing is available now. UCN: What effect has there been from remarketers smoothing out their inventory flow through the year? Beggs: Part of that is due to the increased availability of information. Remarketers are using data analytics more and more. We have a renewed focus on analytics. One of the gentlemen who is going to be leading the overall evaluation team, Anil Goyal, has a background in analytics from the finance side of the industry. It’s exciting times in the market, but you’ve got to pay attention.

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• ALABAMA • AA OF MONTGOMERY • CENTER POINT AA • DEALERS AA OF HUNTSVILLE • DEALERS AA OF MOBILE • DEANCO AA • SHOALS NORTH ALABAMA AA • ALASKA • DEALERS AA OF ALASKA • ARIZONA • DEALERS AA OF THE SOUTHWEST • METRO AA OF PHOENIX • CALIFORNIA • ALL VALLEY DEALER AA • AUCTIONS IN MOTION - SANTA ANA • AUCTIONS IN MOTION - THOUSAND OAKS • BRASHER'S SACRAMENTO AA • NORTH BAY AA • NORWALK AA • PRIME AA • SOUTH BAY AA OF GARDENA • SOUTH BAY AA OF STOCKTON • WSM AUCTIONS • COLORADO • DEALERS AA OF THE ROCKIES • LOVELAND AA • CONNECTICUT • CENTRAL AA • HARTFORD SPRINGFIELD AUCTION • SOUTHERN AA • FLORIDA • AMERICA'S AA - JACKSONVILLE • AMERICA'S AA - PENSACOLA • COCOA AUTO DEALERS EXCHANGE • SANFORD AUTO DEALERS EXCHANGE • TALLAHASSEE AA • OCALA AUTO DEALERS EXCHANGE • YOUR AUCTION OF TAMPA BAY • GEORGIA • ALBANY AA • AMERICA’S AA - ATLANTA • SOUTHEASTERN AA OF SAVANNAH • IDAHO • BRASHER'S IDAHO AA • DEALERS AA OF IDAHO • ILLINOIS • AMERICA'S AA CHICAGO • DECATUR AA • GREATER QUAD CITY AA • GREATER ROCKFORD AA • MORTON AA • INDIANA • AUTO DEALERS EXCHANGE • DYER AA • FORT WAYNE AUTO & TRUCK AUCTION • INDIANA AA • KESLER-SCHAEFER AA • SOUTH BEND MISHAWAKA AA • WOLFE'S EVANSVILLE AA • WOLFE'S SOUTH BEND AA • WOLFE'S TERRE HAUTE AA • IOWA • DES MOINES AA • PLAZA AA • KENTUCKY • CAIN'S MURRAY AA • KASP • LOUISIANA • LOUISIANA'S 1ST CHOICE AA • OAK VIEW AA • MAINE • ACADIA AA • CENTRAL MAINE AA • PORT CITY AA • SOUTHERN MAINE AA • MARYLAND • BEL AIR AA • MASSACHUSETTS • CENTRAL MASS AA • LYNNWAY AA • QUINCY AA • MICHIGAN • ALPINE AA OF GAYLORD • FLINT AA • GRAND RAPIDS AA • GREATER KALAMAZOO AA • INTERSTATE 94 VEHICLE AUCTION • WEST MICHIGAN AA • MINNESOTA • MID-STATE AA • MISSISSIPPI • DIXIE AA • LONG BEACH AA • MID SOUTH AA • MISSOURI • 166 AA • KCI KANSAS CITY • MISSOURI AA • MISSOURI AUTO DEALERS EXCHANGE • POPLAR BLUFF AA • MONTANA • AA OF MONTANA • NEBRASKA • LINCOLN AA • NEVADA • BRASHER'S RENO AA • NEW HAMPSHIRE • AA OF NEW ENGLAND NEW MEXICO • FARMINGTON AA • NEW YORK • BUFFALO AA • ROCHESTER'S CENTRAL AA • ROCHESTER-SYRACUSE AA • STATE LINE AA NORTH CAROLINA • GREENSBORO AA • OHIO • ABC CINCINNATI • AKRON AA • COLUMBUS FAIR AA • GREATER CLEVELAND AA • VALUE AA • OKLAHOMA • AMERICA'S AA - TULSA • DAA OF OKLAHOMA CITY • OREGON • BRASHER'S NORTHWEST AA • BRASHER'S PORTLAND AA • PENNSYLVANIA • AMERICA'S AA PITTSBURGH • CENTRAL PENNSYLVANIA AA • CORRY AUTO DEALERS EXCHANGE • GARDEN SPOT AA • GREATER ERIE AA • HARRISBURG AA • N.E. PENNSYLVANIA AA • PITTSBURGH AA • QUEBEC (CANADA) • ST-PIERRE AA • RHODE ISLAND • OCEAN STATE AA • SOUTH CAROLINA • AMERICA’S AA - GREENVILLE • AUGUSTA AA • CAROLINA AA • CHARLESTON AA • MAYO AA • RAWLS AA • TENNESSEE • AIRPORT AA • DEALER’S AUTO CHATTANOOGA • CLARKSVILLE AA • DEALERS AUTO MURFREESBORO • MEMPHIS AA • DEALER’S AUTO MEMPHIS • TEXAS • ALLIANCE ABILENE / LONGVIEW / WACO • AMERICA'S AA - AUSTIN / SAN ANTONIO • AMERICA'S AA - DALLAS • AMERICA'S AA NORTH HOUSTON • BIG VALLEY AA • BRASHER’S SAN JOSE AA • EL PASO INDEPENDENT AA • GO AUTO EXCHANGE HOUSTON • GREATER TYLER AA • HOUSTON AA • HOUSTON'S 1ST CHOICE AA • LONE STAR AA • METRO AA DALLAS • MIDLAND ODESSA AA • SPARKLING CITY AA -CORPUS CHRISTI • SPARKLING CITY AA -SAN ANTONIO • TEXAS LONE STAR AA • UTAH • BRASHER'S SALT LAKE AA • VIRGINIA • TIDEWATER AA • WASHINGTON • DAA NORTHWEST • DAA SEATTLE • WEST VIRGINIA • CAPITAL CITY AA • MOUNTAIN STATE AA • WISCONSIN • BADGER STATE AA • GREATER MILWAUKEE AA

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10 • March 16, 2015

Rocket Scientist Examines Airbags DETROIT (AP) – The auto industry, fed up with slow progress toward finding out why some air bags explode with too much force, has hired a Virginia rocket science company to investigate the matter. Ten automakers whose vehicles have been recalled because of problems with Takata Corp. air bags have jointly hired Orbital ATK to figure out the problem. The suburban Washington, D.C., company makes rocket propulsion systems, small arms ammunition, warhead fuses and missile controls. The companies also named David Kelly, a former acting administrator of the National Highway Traffic Safety Administration, as project manager for the investigation. Air bag inflators made by Takata of Japan can explode with too much force, sending shrapnel into car and truck cabins. At least six people have been killed and 64 injured due to the problems, which surfaced a decade ago. So far, about 17 million cars and trucks have been recalled in the U.S., and 22 million worldwide, to replace the inflators, but Takata has been unable to pinpoint the cause. The company has known about the problem since at least 2004. Takata uses ammonium nitrate to create a small explosion that quick-

ly inflates its air bags. But government investigators say the chemical can burn faster than designed if exposed to prolonged airborne moisture. That can cause it to blow apart the metal canister meant to contain the explosion. Automakers, Takata and the government all want to find out just how much humidity and time it takes to cause the problem, both of which are unknown. Orbital ATK has the ability to quickly simulate the impact of humidity on the propellant over long periods of time, which is key to finding out the cause, Kelly said in an interview. The company will test air bag inflators that were taken from cars that have been repaired under recalls. “The Orbital team has a tremendous amount of experience in being able to test that and being able to look at burn rates on a large scale,” he said. Long-term stability of air bag propellant is important because cars are staying on the road for 10 or 15 years, much longer than in the past, Kelly said. He wouldn’t estimate how long it might take to find a cause. “We don’t want to prejudge that process. It is much more important for us to get the answer right than to get the answer back.”

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12 • March 16, 2015

USED CAR NEWS

MPS – Continued from page 1 If you keep buying it, they’ll keep selling it.

and their wholesale customers and, by so doing, provide benefits to auctions, consignors, dealers and, ultimately, retail customers,” said Janet Barnard, president of Manheim’s North American operations. “It will be up to each auction to determine whether to join MPS when it is up and running, and participants will make their own choices for their own individual business reasons. MPS has been carefully shaped with relevant legal considerations in mind – with an eye toward ensuring full access to all auctions, small or large.” Barnard said the cost of participation for each auction will be modest to ensure ease of access. Discussions about this type of project date back to 2007, said Frank Hackett, CEO of the National Auto Auction Association. “The parties should be commended for the work that they’ve done,” Hackett said, “because they’ve spent a lot of time, money and energy on this. “Although the conclusion isn’t what everybody would have wanted it to be, it’s the conclusion that was right with the parties that have opted out.” Hackett held out hope that the parties would return to the MPS initiative at some point.

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14 • March 16, 2015

USED CAR NEWS

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State Seizes Dealer’s Property The Alabama attorney general seized the property of a usedcar dealer after charging that dealer with continued fraudulent behavior. The attorney general was granted a temporary restraining order and seized the property of Quality Used Cars and its associate Preowned Automotive, operated Luther by Claton (also Strange known as Clayton) and Connie Reeves since 2009. Also named in the attorney general’s lawsuit are Monecia Brown, daughter of Claton and Connie Reeves, and Brown’s husband Christopher Robinson, for their actions as employees or agents of the dealer, which is located at 6155 Elmore Road in Elmore, Ala. “The state’s highest priority is ensuring no more parties are harmed by Quality’s business practices,” said Luther Strange, attorney general. “If possible, the state also wishes to secure relief for those already victimized.” He said the car dealers have been

actively defrauding consumers, banks, credit unions and other car dealerships. The attorney general alleged that Quality has a consistent practice of entering into deals and failing to fulfill its end of the bargain. The suit claims Quality has accepted vehicle trade-ins under the condition of paying off existing liens but then failed to do so. The dealership then sold the vehicles to other customers without disclosing the liens attached to them, while charging but not remitting state sales taxes. Quality has acquired other vehicles via false pretenses and bad checks, which has led to credit unions, banks, and other car dealers losing tens of thousands of dollars. Finally, Quality has failed to obtain, let lapse, or had revoked such quality standards as a surety bond, a business license, its dealer license and designated agent status. In a separate civil complaint, the attorney general accuses the car dealer of 18 counts of violating the Alabama Deceptive Trade Practices Act as well as a 19th count of a Department of Revenue violation. The complaint offers several examples. In one example, a woman traded Continued on page 16

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16 • March 16, 2015

USED CAR NEWS

Property – Continued from page 14

68 Years Can’t Be Wrong.

in her Ford Ranger vehicle to purchase a car from Quality with the agreement that Quality would pay off her $3,900 lien on the truck. The woman began to get notices that her loan had not been paid. Over the next 22 months the car dealer only sporadically made payments in which the checks bounced, were late, or did not cover the payment amount. Not only did this damage the woman’s credit history, but also the credit union filed a lawsuit against her. It was only after she reported the matter to the Elmore County Sheriff ’s Office, and the Reeves were threatened with arrest, that Quality finally paid off the loan nearly two years later. In addition to the harm caused to

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the consumer, Quality caused the credit union substantial administrative and legal costs to collect what was owed. Another woman paid $4,700 for the same Ford Ranger. Knowing there was the unpaid lien on the vehicle, Quality falsely represented that it had the title and that there was no lien. During her purchase of a vehicle from an Alabaster car dealer, Connie Reeves was asked for her regulatory license and her Alabama sales tax license. She claimed that she had left them in Elmore County, wrote a check for $16,200, and left with the car and its title. This check, and a subsequent second check, bounced. At this time, they have not yet paid for the vehicle.

2009 Pontiac G8. He spotted the keys to the car and stole the vehicle. Police Maj. Paul West says the stolen car has been involved in at least six pursuits in St. Louis city and county since it was stolen. Wentzville police are urging anyone who knows anything about the thief to come forward and contact the police.

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18 • March 16, 2015 DAA_UCN-March16.pdf

USED CAR NEWS 1

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VDS - Continued from page 3

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By vehicle category, the most frequently reported problems are related to exterior, followed by engine/transmission and audio/communication/entertainment/navigation. Overall vehicle dependability industry-wide averages 147 PP100, or approximately 1.5 problems per vehicle. “At the three-year point, many owners are thinking about replacing their vehicles, and we find that how they feel about their current vehicle’s quality and dependability impacts their intent to consider purchasing the same brand again,” Stephens said. “Oftentimes, the issues owners experience can be resolved with a software update or, in the case of Bluetooth pairing problems, dealers can step in to help. In cases such as these, proactively reaching out to owners presents an opportunity for automakers and their dealers to engage with customers in a positive way.” Lexus ranks highest in vehicle dependability among all nameplates for a fourth consecutive year, with a score of 89 PP100. Buick (110 PP100) follows Lexus

in the rankings, moving up three rank positions from 2014. Following Buick in the rankings are Toyota (111 PP100), Cadillac (114 PP100), and Honda and Porsche in a tie (116 PP100 each). Notable rank improvements from 2014 include Scion (121 PP100), improving by 13 rank positions from 2014; Ram (134 PP100), improving 11 rank positions; and Mitsubishi (140 PP100), improving 10 rank positions. General Motors Co. and Toyota Motor Corp. each received seven segment awards. GM models receiving an award include the Buick LaCrosse; Chevrolet Camaro; Chevrolet Malibu; Chevrolet Silverado HD; GMC Sierra LD; GMC Terrain; and GMC Yukon. Toyota awardees include the Lexus ES; Lexus GX; Scion tC; Scion xB; Scion xD; Toyota Corolla; and Toyota Sienna. The 2015 U.S. Vehicle Dependability Study is based on responses from more than 34,000 original owners of 2012 model-year vehicles after three years of ownership. The study was fielded in November and December 2014.

FTC Settles Online Review Suit AmeriFreight, an automobile shipment broker based in Peachtree City, Ga., has agreed to a settlement with the Federal Trade Commission that will halt the company’s allegedly deceptive practice of touting online customer reviews, while failing to disclose that the reviewers were compensated with discounts and incentives. The FTC’s complaint marks the first time the agency has charged a company with misrepresenting online reviews by failing to disclose that it gave cash discounts to customers to post the reviews. AmeriFreight arranges the ship-

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ment of consumers’ cars through third-party freight carriers. Its website touted that the company had “more highly ranked ratings and reviews than any other company in the automotive transportation business.” The proposed order settling the FTC’s charges prohibits the respondents from misrepresenting that their products or services are highly rated or top-ranked based on unbiased consumer reviews, or that customer reviews are unbiased. It also requires the respondents to disclose any connection between them and their endorsers.

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20 • March 16, 2015

USED CAR NEWS

Recent Recalls Cover Fire Hazards, Hoods Popping Open A pair of high-end manufacturers recently issued recalls. Mercedes-Benz USA is recalling 147,224 vehicles for a faulty rubber seal. Included in the recall are: • Model year 2013-15 E350 sedan, E350 4matic sedan, E350 4matic station wagon, E400 hybrid sedan, CLS 550 CGI and CLS550 4matic; • 2013-14 E550 4matic sedan; • 2013 E63 sedan, E63 station wagon and CLS63; • 2014 CLS 63 “S”; • 2014-15 CLS63 4matic, E63 4matic sedan, E63 4matic sedan “S” and E63 4matic station wa on; and • 2015 CLS400, E400 sedan, E400 4matic sedan and CLS400 4matic. The affected vehicles have a rubber seal at the back of the engine bay that may temporarily stick to the hood when it is opened and then may fall into the engine bay when the hood is closed. If the rubber seal falls into the engine compartment, it may contact parts of the exhaust system, increasing the risk of a fire. MBUSA will notify owners, and dealers will attach four additional retaining clips to the rubber seal, free of charge. The recall is

expected to begin by mid-March. MBUSA’s number for this recall is 2015020001. Jaguar Land Rover North America LLC is recalling 61,793 model year 2013-15 Land Rover Range Rover vehicles manufactured Aug. 23, 2012 to Feb. 5, and 2014-15 Range Rover Sport vehicles manufactured June 16, 2013 to Feb. 5. In the affected vehicles, a lightweight adult front-seat passenger may be improperly classified by the occupant classification system and, as a result, the front seat passenger air bag may be disabled. If the front passenger air bag is disabled during a vehicle crash, there is an increased risk of injury. Land Rover will notify owners, and dealers will update the OCS software, free of charge. The recall is expected to begin April 17. Land Rover’s number for this recall is P059. In other recall news, Nissan North America Inc. is recalling 625,000 model year 2013-15 Nissan Altima vehicles manufactured March 1, 2013 to Dec. 31, 2014. In the affected vehicles, the secondary hood latch may bind and remain in the unlatched position when the hood is closed. If the primary latch is inadvertently released and the secondary

latch is not engaged, the hood could unexpectedly open while driving, increasing the risk of a vehicle crash. The manufacturer has not yet provided a remedy plan or notification schedule. This recall is an expansion of recall 14V-565. Also, Chrysler is recalling 338,216 model year 2012-2013 Jeep Grand Cherokee vehicles manufactured September 17, 2010, to August 19,

2013, and equipped with a 3.6, 5.7 or 6.4 liter engine, and 2012-2013 Dodge Durango vehicles manufactured January 18, 2011, to August 19, 2013, and equipped with a 3.6 or 5.7 liter engine. In the affected vehicles, the fuel pump relay inside the Totally Integrated Power Module (TIPM-7) may fail, causing the vehicle to stall without warning. Chrysler will notify owners, and dealers will replace the fuel pump relay with one external to the TIPM.

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Your source for quality, value, selection: Chase. A broad selection of pre-owned vehicles from an industry leader. April 2015 Chase High Lines, featuring Jaguar Land Rover Financial Group

Chase ADESA Boston April 10, 17, 24 508-626-7000

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Manheim Baltimore Washington April 7 410-796-8899

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Manheim Pennsylvania April 2, 3, 16, 17, 30 800-777-2053 Manheim Phoenix April 2, 9, 16, 23, 30 623-907-7000 Manheim Pittsburgh April 8 724-452-5555 Manheim Riverside April 7, 9 909-689-6000 Manheim Seattle April 1, 29 206-762-1600

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Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information.

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*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. JPMorgan Chase Bank, N.A. Member FDIC ©2014 JPMorgan Chase & Co. (14-723) 10/14

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22 • March 16, 2015

USED CAR NEWS

RETAIL MARKETS INDIANA

Troy White, assistant general manager, Ed White’s Auto Sales, Rensselaer, Ind.: “We’ll be in business for 43 years this May. We have one location. “We keep 80 cars on the lot. We’re selling about 25 per month. “About 40 percent of our business is subprime and the rest is (straight retail). “Our inventory comes (through) new-car trades. “Average model year is ’08. Average mileage is in the 70,000s. “I think it’s always a challenge to get (inventory) you want at the price that you want to buy it at. “We’re a little more heavy on the car side. We probably carry 65 percent cars and 35 percent trucks and sport utility vehicles. That’s similar to last year. “We’re probably 80 percent domestic and 20 percent imports. “We have a certification program for our (vehicles). “The average cost for recon is $700. That seems to

continually go up. All our work is done here. “We do outside service contract repairs for our clients. We have a base warranty on all vehicles, which is six months/6,000 miles for limited drive train coverage. We also offer extended service contracts through a couple of different companies. “For advertising, we use a local radio station and a local free newspaper. Within those ads, we’re (pushing) our website. We’ve continued to increase our Internet marketing. “We did a lot of comparisons before we went with carsforsale.com (to do our website). It’s pretty basic, but we’ve gotten compliments from our customers who really like the site and feel it’s easy to use and navigate. “The Internet is not easy. It’s very labor intensive to keep current and have your inventory looking good. “We delivered a 2007 Ford F-150 four-wheeldrive pickup recently to a repeat customer. It had

Compiled by Jeffrey Bellant 74,000 miles on it. It sold for $17,900. “The weather, I think, has been a major factor for a lack of traffic. It’s very similar to last year. But we have been open every day. At this point last year, we had been snowed out for three or four days. “The supply is coming back strong. It’s just going to be an interesting year to see how the inventory is going to affect the dealers.”

PENNSYLVANIA

Noah Melamed, general manager, Ticket to Ride Auto, Lancaster, Pa.: “We’ve been at this location for 15 years. We’ve been in the auto industry for more than 50 years. I’m a third-generation dealer. “We have several different businesses. We have this used-car lot, several body shops, a related finance company and several newcar dealerships. “But this is our primary business which is 100 percent buy-here, pay-here. “Generally, we keep 80 to 100 vehicles in inventory.

“We’re always shooting to sell 50 vehicles a month. “Tax money is slowly starting to trickle in (as of March 4). I think it’s been a little delayed this year. “Volumes are slightly higher but not significantly. “We get all of our cars at auction. “While supply (in the market) has been tough, we’re very lucky in that we’re right down the street from Manheim. We have auctions everywhere around us, so that’s a nice thing. “We’re seeing a lot more people traveling from out of state to purchase here. “Supply and demand kind of evened out. “Down payment amounts have slid a bit. In today’s competitive subprime market, we’ve had to take a little less. “We always shoot for $800 and that’s been about our average, between $700 and $800. But with tax season, we’re looking for more than $1,000. “Term length is about three years. “We use starter-interrupt

devices on all vehicles. “Average model year is six- to 10-years-old. “Average mileage is anywhere from 60,000 to 100,000. “Pickup trucks have been incredibly difficult to find. We’re mostly carrying sedans and SUVs. “We mostly carry domestics. But recently we are finding some better prices on the imports that we used to have difficulty finding, like Toyotas. “We’ve been at $900 to $1,000 on reconditioning. We put quite a bit of recon because we provide a warranty with every vehicle. The warranty is 12 months/12,000-miles powertrain. “We have a service department to do that work. “We’ve tried to do every kind of marketing. But it seems the old staple auto exchanges (trading publications) are the most valuable to us. “Right now, we can’t keep an SUV on the lot. Buyers want those four-wheel drives.”

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3/6/15 2:08 PM


USED CAR NEWS

March 16, 2015 • 24

WHOLESALE MARKETS LOUISIANA

Steve Chiasson, managing partner, Greater Shreveport-Bossier Auto Auction, Shreveport, La.: “We had our 8th anniversary on Jan. 30. We gave away plaques to our top buyers and top sellers, independents as well as new-car stores. We also gave plaques to our top fleet (sellers), Avis and Budget. “The dealers really appreciated this. It’s good for their customers to see. It’s solid recognition for them and a nice decoration for their office. “This year, we’re up both in volume and sales percentage. We’re up in every category. “Up to (March 5) last year we had run 2,500 cars and it’s a little bit up this year. “We’re up on sales, cruising along at a 57 percent (rate). “We got nailed with an ice storm (on Feb. 25) and had to change our sale date from Wednesday to Friday, so that didn’t help. It was actually a pretty good sale at 65

24_UCN.indd 1

percent. But we still came back five days later with a 67 percent sale. “About 10 to 15 percent of our volume is commercial (consignment), which are daily rentals and fleet accounts. The volume is a little bit up, I’m happy to say. “We’re averaging about 160 to 170 bidders, which is similar, but still a little up from last year. The Dallas market is kind to us. We get some highline buyers that come out of Dallas. “We sell highline, we sell note cars and we sell fleet cars. We’ve got something for everyone, even if we don’t have the volumes that the Manheim and ADESA auctions do. “We’re able to market the products we do get. We sold a 2014 Mercedes 550 recently for $74,000. So if we get a $74,000 car, we’re able to bring in $74,000 buyers. We had four active bidders on that car. “It proves that we can market any type of vehicle that a dealer wants to send. We have targeted lists so we know who’s in the hunt for

Compiled by Jeffrey Bellant a certain type of inventory. “Our average price is up. It’s around $5,700. “It always perks up around here during tax season. The unknown factor has played a large part this year, with the IRS saying, ‘we don’t know if we’ll have the staff to handle everything if our budget is cut.’ “So I think that air of uncertainty will extend the tax season. “In our area, trucks are always hot, so they’re doing well. “But the new-car stores are keeping a lot more (vehicles). “Weather has been a major factor here affecting retail dealers. The town was virtually shut down for four days recently and the schools were closed. Dealerships were open but not doing any sales. “During a recent sale, it was 70 degrees and people had shorts on. “A storm hit us at 5 p.m., the temperature dropped to 24 degrees the next morning, with a half-inch of ice all over.”

MINNESOTA

Shaun Schaefer, general manager, Mid-State Auto Auction, New York Mills, Minn.: “We’ll be in business 34 years in August. We’ve been running 400 to 430 per week. It’s probably improved this year a little bit. I think we were around 380 to 400 last year. “The sales percentage (at a recent sale) was 64 percent. “I would say (the retail) business has improved from last year. The volumes of most of our dealers are up. “So far, the winter has been good. Last year, some of our sales were down because of snow that hit a few times on our sale days. We have had some cold weather, but it hasn’t been in long stretches. “Overall, business has been better than last year. “We’re probably sitting at 180 to 190 bidders per week. “We get a lot of bidders from Minnesota, North Dakota and South Dakota. “I would say we’re 80 to

90 percent dealer consignment. We also have repos and some lease returns. “The average price of what we sell is in the $8,000 to $9,000 range. Prices have jumped during tax season. “During the summer months, we also run a GSA sale. They will probably start in April. The GSA usually runs between 100 and 140 units. Those are 100-percent sellers. Those are newer models, from 2008 to 2013s. We’ll get trucks. We’ll get cars like Dodge Avengers, Chevy Impalas – a lot of Impalas – and passenger vans, cargo vans. It’s a bunch of different stuff. “We usually run that either the last Friday or second-to-last-Friday of the month. “In our regular sale, SUVs are really hot. The allwheel-drives do the best. Right now, the cheaper cars – in the $2,000 to $4,000 – are doing well. “We’ve been improving every year, so I think the numbers will be up this year.”

3/9/15 10:47 AM


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3/5/15 11:23 AM


26 • March 16, 2015

USED CAR NEWS

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DOMESTIC

Feb ‘15

Feb ‘14

‘15 YTD

‘14 YTD

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

21,153 19,236 1,917 39,086 3,315 29,732 6,024 11 4 0 1,885 14,357 2,656 6,976 4,725 59 14,416 76,481

20,199 18,344 1,855 32,069 2,546 24,086 5,165 201 71 1,549 11,506 2,200 5,383 3,923 26 11,532 65,323

43,867 39,859 4,008 74,448 6,659 55,701 12,055 25 8 3,758 27,249 5,090 13,023 9,136 109 27,358 149,322

39,075 35,529 3,546 60,577 4,818 45,300 9,975 352 132 1 3,086 22,232 4,182 10,358 7,692 60 22,292 124,971

16,261 3,325 12,278 1,761 27,516 6,049 7,128 4,887 3,208 76 4,000 86,489

18,332 3,032 10,359 1,259 28,015 5,729 6,804 3,464 2,964 41 3,308 83,307

32,851 6,866 24,359 3,486 55,137 12,705 14,496 9,494 6,645 156 7,920 174,115

35,808 6,037 19,998 2,274 54,182 11,159 13,864 6,425 5,880 102 6,620 162,349

Audi Bentley - EST. BMW Fiat Jaguar Land Rover Mercedes-Benz Smart MINI Porsche Volkswagen Maserati Volvo Car Total European

3,698 30 9,203 59 439 993 9,811 9 785 953 7,176 30 1,343 34,529

3,267 30 6,856 26 399 852 9,977 11 625 840 6,628 26 849 30,386

7,428 60 17,949 109 904 1,984 19,262 14 1,636 1,980 14,851 60 2,690 68,927

6,428 60 12,875 60 726 1,616 18,278 15 1,320 1,649 13,190 73 1,699 57,989

Total - EST.

197,499

179,016 392,364

345,309

ASIAN

Honda Acura Nissan Infiniti Toyota Lexus Hyundai Kia Mazda Mitsubishi Suzuki Subaru Total Asian EUROPEAN

Source: Autodata Corp.

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3/9/15 4:33 PM


ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES MARCH 2015

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

Mar ‘14 $21,900 $26,500 $11,850 $11,950 $20,250 $12,600 $12,550 $16,200 $17,450 $23,800 Mar ‘14 $24,400 $30,650 $70,800 $16,950 $13,900 $31,300 $37,800 $11,200 $13,600 $17,000 $12,300 $16,100 $12,750 $15,000 Mar ‘14 $33,350 $46,500 $29,700 $16,900 $20,800 $30,075 $15,300 $19,800 $20,150 $27,525 $21,325 $20,100 $18,650 $20,050 $28,550 $25,400

Sept ‘14 $19,800 $25,000 $11,250 $11,750 $18,850 $12,650 $12,350 $16,000 $17,000 $25,050 Sept ‘14 $23,100 $26,050 $64,000 $16,400 $13,400 $31,300 $33,600 $11,450 $12,700 $16,000 $12,450 $14,600 $12,550 $16,150 Sept ‘14 $30,550 $45,350 $30,250 $16,000 $21,400 $28,500 $14,600 $22,300 $18,050 $27,200 $21,600 $21,700 $18,600 $21,250 $28,950 $24,100

2012 MODELS Mar ’15 $16,800 $22,300 $10,300 $10,700 $17,450 $11,150 $11,050 $15,200 $15,250 $20,950 Mar ’15 $20,900 $25,500 $52,700 $15,000 $12,400 $27,600 $31,600 $9,900 $12,050 $15,350 $11,300 $14,300 $12,150 $15,150 Mar ’15 $28,350 $41,150 $25,850 $14,550 $22,300 $27,200 $13,200 $19,700 $18,200 $27,500 $21,300 $22,000 $18,150 $19,200 $27,450 $22,700

Projected Figures Mar’16 Mar ‘17 $14,625 $12,950 $18,825 $16,050 $8,925 $7,775 $8,975 $7,875 $14,400 $12,375 $9,350 $8,000 $8,750 $7,625 $12,900 $11,450 $12,350 $10,650 $18,300 $16,350 Mar’16 Mar ‘17 $17,800 $15,550 $21,150 $17,500 $45,425 $38,575 $12,675 $11,175 $10,375 $8,950 $22,475 $19,175 $25,225 $21,275 $8,175 $7,050 $10,150 $8,950 $12,750 $11,175 $8,975 $7,675 $11,825 $10,525 $9,675 $8,600 $12,600 $11,400 Mar’16 Mar ‘17 $23,650 $20,250 $35,475 $31,125 $23,075 $20,450 $11,775 $10,025 $17,925 $16,225 $23,650 $20,875 $10,325 $8,350 $15,875 $13,750 $14,350 $12,100 $21,200 $18,350 $16,850 $14,775 $16,375 $13,825 $15,075 $13,175 $16,275 $14,275 $24,100 $21,700 $18,500 $15,900

2011 MODELS DOMESTIC CARS 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

27_UCN.indd 1

Mar ‘14 $13,600 $19,100 $9,600 $8,900 $15,500 $9,800 $9,100 $12,900 $13,700 $22,100 Mar ‘14 $19,700 $19,700 $44,500 $12,650 $11,200 $22,500 $27,800 $9,850 $9,600 $10,900 $9,000 $11,900 $10,250 $12,700 Mar ‘14 $27,250 $38,150 $22,800 $18,000 $11,300 $17,425 $23,175 $11,250 $16,950 $12,950 $24,500 $17,900 $16,850 $15,050 $15,950 $23,650

Sept ‘14 $12,700 $17,950 $9,450 $9,150 $14,450 $10,350 $9,150 $12,700 $13,500 $20,400 Sept ‘14 $18,950 $18,300 $38,500 $11,800 $10,750 $20,950 $25,200 $9,200 $9,900 $11,200 $9,250 $11,350 $10,000 $12,150 Sept ‘14 $24,900 $35,400 $23,100 $18,850 $11,450 $18,500 $24,200 $11,000 $17,000 $12,400 $22,000 $18,000 $17,400 $14,550 $15,950 $23,500

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

Mar ‘14 $19,150 $21,800 $10,600 $10,700 $17,450 $11,000 $10,950 $14,500 $15,550 $19,700 Mar ‘14 $22,000 $25,650 $55,500 $14,200 $12,450 $26,300 $31,800 $10,500 $10,800 $12,100 $10,350 $14,000 $11,450 $13,750 Mar ‘14 $30,250 $42,100 $26,050 $19,500 $13,000 $18,950 $26,975 $13,350 $18,900 $15,700 $26,275 $20,050 $18,750 $17,350 $17,850 $26,800

Sept ‘14 $17,900 $21,100 $10,250 $10,300 $16,100 $11,450 $10,950 $14,300 $15,500 $21,300 Sept ‘14 $20,900 $24,400 $47,600 $13,400 $12,050 $24,500 $28,800 $10,800 $11,200 $12,500 $10,450 $13,200 $11,100 $13,900 Sept ‘14 $27,050 $40,350 $26,000 $20,850 $13,300 $21,000 $27,300 $13,100 $20,000 $14,250 $25,200 $21,200 $20,700 $16,950 $18,850 $26,650

Mar ’15 $15,150 $18,800 $8,900 $9,050 $15,100 $9,900 $9,300 $13,300 $13,700 $18,300 Mar ’15 $18,700 $22,600 $40,400 $12,050 $10,950 $22,000 $27,200 $8,850 $9,350 $10,650 $9,050 $13,000 $10,300 $12,350 Mar ’15 $25,950 $35,700 $23,000 $19,700 $11,300 $20,500 $25,000 $10,300 $18,100 $13,800 $24,200 $19,500 $19,500 $16,700 $16,650 $25,350

Projected Figures Mar’16 Mar ‘17 $13,125 $11,425 $15,825 $13,375 $7,550 $6,525 $7,875 $6,875 $12,175 $10,275 $8,100 $6,825 $7,650 $6,525 $11,250 $10,050 $10,900 $9,225 $15,450 $13,450 Mar’16 Mar ‘17 $15,925 $13,600 $18,050 $14,825 $35,875 $30,325 $10,575 $9,350 $9,000 $7,550 $18,300 $16,000 $21,400 $17,825 $7,325 $6,175 $8,300 $7,200 $9,350 $8,075 $7,625 $6,525 $10,600 $9,400 $8,800 $7,550 $11,075 $9,400 Mar’16 Mar ‘17 $21,100 $17,725 $30,925 $26,325 $20,050 $17,400 $16,675 $14,475 $9,125 $7,600 $16,200 $14,450 $21,700 $18,800 $8,275 $6,600 $14,650 $12,575 $10,900 $9,150 $18,950 $16,200 $15,900 $13,850 $14,750 $12,325 $13,750 $11,950 $14,500 $12,425 $22,100 $19,000

Mar ’15 $10,050 $12,850 $4,750 $7,050 $9,750 $6,400 $6,500 $10,200 $10,800 $14,600 Mar ’15 $14,750 $13,000 $27,750 $9,500 $6,850 $15,600 $20,800 $6,800 $7,050 $8,350 $6,350 $9,250 $7,800 $8,900 Mar ’15 $19,200 $30,150 $16,750 $15,700 $8,225 $16,900 $20,800 $7,200 $12,200 $9,800 $12,400 $13,600 $13,000 $11,700 $10,100 $18,100

Projected Figures Mar’16 Mar ‘17 $8,650 $7,300 $10,025 $8,225 $4,200 $3,625 $5,875 $4,975 $8,050 $6,800 $5,000 $3,925 $5,425 $4,525 $8,600 $7,425 $8,450 $6,975 $11,375 $9,225 Mar’16 Mar ‘17 $12,150 $9,950 $10,925 $9,125 $23,975 $20,100 $8,150 $7,025 $5,725 $4,725 $13,325 $11,300 $15,625 $12,475 $5,475 $4,500 $6,150 $5,225 $7,125 $6,025 $5,475 $4,600 $7,950 $6,900 $6,475 $5,550 $7,500 $6,300 Mar’16 Mar ‘17 $15,800 $13,050 $24,225 $19,650 $14,100 $11,575 $13,050 $11,250 $6,475 $5,325 $13,700 $11,975 $17,500 $14,375 $5,850 $4,550 $10,550 $9,050 $7,625 $6,275 $10,000 $8,075 $11,500 $9,825 $10,300 $8,725 $10,300 $8,900 $9,050 $7,650 $15,450 $12,900

2010 MODELS Mar ’15 $11,000 $16,100 $8,150 $7,950 $13,650 $9,000 $7,250 $11,800 $12,100 $18,900 Mar ’15 $16,700 $17,300 $32,300 $10,700 $9,600 $18,600 $23,600 $7,800 $8,150 $9,450 $7,700 $10,400 $9,450 $10,800 Mar ’15 $23,050 $32,200 $19,850 $17,500 $9,750 $19,000 $23,000 $9,300 $16,000 $11,600 $22,200 $18,000 $16,000 $14,100 $13,300 $21,400

Projected Figures Mar’16 Mar ‘17 $9,400 $8,125 $12,125 $10,025 $6,800 $5,800 $6,775 $5,825 $10,775 $8,975 $7,225 $6,000 $6,175 $5,250 $10,025 $8,825 $9,475 $7,950 $14,675 $12,000 Mar’16 Mar ‘17 $13,875 $11,775 $13,450 $11,250 $28,850 $24,375 $9,300 $8,150 $7,725 $6,375 $15,850 $13,875 $18,050 $14,750 $6,225 $5,175 $7,150 $6,125 $8,175 $6,975 $6,525 $5,525 $9,100 $8,000 $7,875 $6,700 $9,000 $7,550 Mar’16 Mar ‘17 $18,675 $15,425 $26,500 $22,250 $16,900 $14,350 $14,625 $12,650 $7,700 $6,300 $14,950 $13,225 $19,325 $16,450 $7,125 $5,650 $12,800 $10,950 $9,175 $7,650 $16,900 $14,200 $13,925 $12,025 $12,825 $10,725 $11,575 $10,100 $11,650 $10,000 $18,600 $15,675

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

Mar ‘14 $11,700 $16,000 $6,150 $7,450 $11,650 $7,850 $7,900 $11,500 $12,850 $17,950 Mar ‘14 $17,700 $16,500 $37,250 $11,200 $7,850 $19,300 $24,800 $8,650 $8,450 $9,750 $8,450 $10,250 $9,050 $10,800 Mar ‘14 $22,600 $34,150 $20,350 $16,250 $10,325 $16,275 $21,425 $9,400 $14,725 $11,200 $15,200 $15,175 $14,275 $13,450 $12,850 $20,700

Sept ‘14 $11,200 $14,300 $5,850 $8,250 $11,250 $7,300 $7,950 $11,300 $12,950 $16,100 Sept ‘14 $17,000 $14,700 $31,950 $10,350 $7,650 $18,000 $22,600 $7,800 $8,650 $9,950 $7,750 $10,050 $8,500 $10,000 Sept ‘14 $21,500 $32,950 $19,400 $16,900 $9,825 $16,900 $20,800 $9,400 $13,500 $10,400 $14,300 $15,800 $13,400 $12,700 $12,200 $19,650

3/9/15 4:33 PM


28 • March 16, 2015

USED CAR NEWS

Disconnected Jottings From Tony Moorby... “I only believe in statistics that I doctored myself.” Winston Churchill could be quite cynical. It makes me wonder if the doctoring of statistics is a government privilege and not one just

costs and tax consequences were never properly divulged to an essentially ignorant public. Car dealers are pilloried, prosecuted and persecuted for matters of non-disclosure – not by

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

given to the marketing hyperbole of over-enthusiastic advertising agencies. For instance we just learned that nearly a quarter of a million new jobs were created in the last month – no reference was made to how many jobs were lost or not replaced during the same time frame. People who gave up looking for work were also not counted! Statistics used to “sell” the Obama Affordable Care Act were (and still are) indecently misleading. The real

the public, mind you, but by government or pseudogovernment administrators. They think they can do the public’s thinking for them and inevitably make matters worse, clouding the issues or burying suppliers in mountains of paperwork and disclosures to comply with regulations that have not been fully thought out or to avoid liability. If something appears as a statistic, the broad assumption is that it must be correct and therefore helpful. If an

industry publishes them for its own illumination or benefit, then they usually are. I fully remember when I first came to the U.S., Mike Richardson, my boss, and I were staggered at the lack of numbers available to describe an industry that typically sold upwards of 40 million cars and light trucks. Some states didn’t even keep central registration records and one had to hit the individual counties to build the database. Even then, some wouldn’t share the numbers for privacy reasons. Trying to decide whether to buy an auction in one market versus another was as scientific as licking your forefinger and sticking it in the air. We were so frustrated that we decided to invest in our own gathering and interpretation capabilities and hired a guy from the rock and mining business who happened to love cars. Tom Kontos headed up a small but very efficient and effective department that eventually led to ADT Automotive publishing an annual Market Report. It studied the used car

C R O S S WO R D Down

Across 1. They’ve made a 90, 100 and 200 3. They made a 300 10. “We __ family” Sister Sledge 11. E-mail address ending 13. They made a car called Marathon 15. ES 330 and GS 430 16. Dodge truck 18. Makes comfortable 19. Where concept cars are displayed 22. Gold in Spanish 23. Tire 25. Early French automaker 29. Price ___ 30. Stylish and elegant 31. Tributes, for instance

$199 a month so long as I get married to it and don’t get a divorce from it for at least six years! Granted, new cars are built better and last longer, the average life now being in excess of 11 years, but it invites the reappearance of higher repo rates. Maybe finance companies will have to hold the paper for the duration of the loan rather than blending it with loans that are a little less toxic and off-loading it. Statistics don’t foretell a good outcome for either. Statistics also tell us that executives who make these decisions aren’t around to meet the consequences of their marketing genius. These are the guys that Vin Scully referred to as using statistics like a drunk uses a lamppost – for support, not illumination.

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

Sponsored by INSURANCE AUTO AUCTIONS

By Miles Mellor

33. Michigan time, for short 35. It’s not a popular car color 37. Top Gear cars often go by in a ____ (indistinct image) 38. Chrysler savior, first name 39. ___ Doc Smith, Sci-Fi writer 40. West coast city 41. Prettify (2 words) 44. Antique 45. They made a T100 47. Scope 49. Abbreviation for all wheel drive 50. Company that made the 827 and the Bullet 51. It’s a shade of grey in car colors

market in great depth and from several different angles from wholesale to retail and sources of units from daily rental companies and leasing companies. That was some 20 years ago and Manheim carried on the responsibility after the acquisition of ADT. The provision of numbers in the industry is now voluminous and come from all kinds of sources. NADA, Used Car News, NIADA, ADESA, CNW all contribute to the new mass of information. Statistics can be a little like road signs; useful if you heed them (with the caveat of the comments above as to whence they come). They can point to mistakes made in the past but as they say, ‘history repeats itself’. I can buy a brand new car for

1. _____ Crosstour 2. Conk out 4. Type of pitch on a lot (2 words) 5. Rolls symbol 6. Demonstrates road rage, e.g. 7. Makers of the IS 250 8. Fix up 9. Corrodes (of metal) 12. Cadillac __ Ville 14. CCx makers 17. Mazda ___ 20. Harley-Davidson owners group 21. Try to win an important client 24. VW’s “___ Auto” 25. Shade of white 26. It’s beneath the chassis 27. Sense of style 28. Honda model 32. Have none left on the lot (2 words) 34. There’s one for the baby 36. A Bentley model

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Answers to the 3/2/15 puzzle

37. Flat ____ 39. Lotus 42. Porridge ingredient 43. Mpg part 45. Deuce in poker 46. Tire’s need 48. Symbol for a light metal much used in car manufacture

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Answers to this puzzle in the 4/6/15 issue. Call 1.800.794.0760 for a FREE subscription.

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3/9/15 2:07 PM


USED CAR NEWS

March 16, 2015 • 29

Advertisers are solely responsible for content of classified advertisements. To place an ad, or for more information, call the Classified Department: 800-794-0760 ext.107

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FLEET OPERATIONS Avis Budget Group is seeking auction professionals to oversee our fleet deletions operations in South Florida and across the country. If you’re looking for a fast-paced job with room for growth, apply online today at avisbudgetgroup.jobs

PLACE YOUR AD IN Call Marie Hingst today THIS SECTION FOR 800-794-0760 ext.107 AS LITTLE AS $56! marie@usedcarnews.com

April 20 - Dealer Life [Product Showcase Advertorial]

June 15 - NIADA Convention Edition

September 7 - Dealer Education

May 1 - Data Source Book

July 6 - NIADA Quality Dealer

September 21 - NAAA Convention Edition

May 4 - Profit Centers

July 20 - Best of Auctions

Sept. 21 Insert - Dealers’ Guide to Top Auctions

May 18 - NABD Convention Issue

August 3 - Dealer Life [Finance & Recovery Spotlight Advertorial] October 5 - Factory Focus Deadline Thursday, July 23

Deadline Thursday, September 24

June 1 - Lease-Here, Pay-Here

August 17 - Auction Technology Focus

October

Deadline Thursday, April 9

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TO ADVERTISE PLEASE CALL 1.800.794.0760 EXT. 107 3/9/15 12:46 PM


30 • March 16, 2015

USED CAR NEWS

Compiled By Jeffrey Bellant

Auction Wins ARI Award

STANDING ROOM ONLY: Louisiana’s 1st Choice Auto Auction and its staff recently celebrated an award from fleet services provider ARI. The auction celebrates its 13th anniversary in May.

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As Louisiana’s 1st Choice Auto Auction prepares to celebrate its 13th anniversary, it has also been named the leading provider in its region for ARI. ARI’s Vehicle Remarketing program annually awards auctions for outstanding performance, measuring each auction on overall market performance, administration and communication. Benchmarking includes days to pick up, complete condition reports, days to sell and receive funds, as well as retention against Black Book Commercial Index and compliance with company guidelines. ARI chose Louisiana’s 1st Choice Auto Auction on “both quantified statistical performance and superior customer service skills in the handling of their account.� The auction has handled vehicles for ARI since 2008, and consistently ranks among the top three auctions in its region. “We appreciate ARI’s recognition of our commitment to their business and our efforts on their behalf,� said John Poteet, the auction’s managing partner.

Manheim Helps Former Factory Rep

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Manheim Pennsylvania will donate up to $10,000 to Matt Newton, who suffers from a medical condition that could lead to life-threatening health issues. Newton, who once served as General Motors’ factory representative at the auction during his career with General Motors, suffers from Dyskeratosis congenita. A touching video produced by 13-year-old Sami Maddox of Lancaster County was sent to NBC’s Ellen DeGeneres Show, asking the talk show host to help her neighbor Matt Newton, and drew the interest of Manheim Pennsylvania. The donation will help Newton

cover some of his mounting medical bills and to help get three of his kids tested for this condition. According to the Genetics Home Reference website, the disorder can affect many parts of the body. “We want to help Matt and his family,� said John Crispeno, the auction’s marketing manager. 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

3/9/15 2:05 PM


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As a member of Cox Automotive, NextGear Capital is part of the strongest portfolio in the Automotive Industry – providing customers with the flexible terms and competitive pricing they need. We’re a proud financial partner to dealerships both big and small, because we know that regardless of the size or location of your lot, at the end of the day nothing drives business like the passion behind it.

What matters most to you? Join the conversation at nextgearcapital.com/what-matters-most

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