DEDICATED A ATED TO THE
DETAILS TAILS TAILS July 15, 2013
ON THE WEB: Certified Sales Near Record for Quarter
Longtime NIADA Leader Passes Torch
The second quarter was the best ever for certified preowned sales. AutoData Corp. reports sales of 548,676, up 18.7 percent from the 2nd quarter a year ago and up 10.3 percent from the first quarter..
Franchise Dealers Add Staff as Sales Improve
Employment at new-car dealerships continued to rise, up 3.2 percent last year, says the National Automobile Dealers Association. In 2012, total employment at new-car dealerships increased to 963,400 employees, up from 933,500 the previous year.
Ford F-150 Sits Atop American-Made Index
Cars.com announced that the Ford F-150 has topped the site’s American-Made Index. This is the first time in four years that a domestic automaker product is once again the “Most American.”
Photo by Jeffrey Bellant LIFETIME ACHIEVEMENT: Mike Linn (center), longtime CEO of the National Independent Automobile Dealers Association, accepts a lifetime achievement award as he steps down from his post after 14 years. NIADA Chairman Chris Martin (left) and Linn’s wife, Nancy, celebrate the event. By Jeffrey Bellant
LAS VEGAS – Steve Jordan has taken over the reins of the National Independent Automobile Dealers Association, effective July 1, with the retirement of Chief Executive Officer Michael Linn. The official announce-
ment was made during the NIADA’s annual convention at Caesars Palace. Jordan has been serving as chief operating officer since 2011. His prior experience includes being the managing partner for a J.D. Byrider store in Florida and serving a short stint as Florida IADA’s executive
director. In addition to his association and car dealership experience, Jordan has also worked as an account executive at Enterprise Rent-aCar’s fleet services division. He was a political campaign manager and consultant, founder of an Internet company and deputy
national field director of a nationwide political advocacy organization. The changeover ends Linn’s 14 years of leadership at the NIADA, which followed 12 years as executive director of the Carolinas IADA. Continued on page 19
Rush - Dated Material
Enterprise App Makes It Easier to Buy Inventory Enterprise Holdings is streamlining its fleet sales process with the launch of its Vehicle Sales Mobile (VSM) technology. The new app gives Enterprise’s more than 400 local account reps a virtual showroom where dealers can shop for and purchase vehicles. The real-time vehicle search and description tool provides access to up-to-date inventory, pricing and mileage. VSM links directly to Enterprise’s vehicle system to condense data on vehicle appearance, performance, history and value into a single digital interface. The app also enables customers to buy on the spot.
“Vehicle Sales Mobile technology allows our local sales team to bring an efficient sales experience direct to our dealership partners,” said Mike Bystrom, Enterprise’s vice president of remarketing. During the app development process, Enterprise gathered data from both its sales team and its dealer customers to determine what information and features would add up to the most effective mobile solution. After a pilot program conducted earlier this year, the solution was rolled out to Enterprise’s local sales and account representatives across North America. They are now using the app in meetings with dealers.
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USED CAR NEWS
Financing Servicemembers Cost Dealer, Creditors A program to provide servicemembers with auto loans is refunding $6.5 million for violating disclosure rules. An enforcement action by the Consumer Finance Protection Bureau will cause U.S. Bank and its nonbank partner, Dealersâ€™ Financial Services (DFS) to return about $6.5 million to servicemembers for failing to properly disclose an allotment fee charged to participants, as well as the timing of the allotment payments. The companies also misrepresented the true cost and coverage of add-on products financed along with the auto loans. This all occurred within the Military Installment Loans and Educational Services (MILES) auto loan program operated by the two firms. Servicemembers are not required to take any action to receive their reimbursement. U.S. Bank and DFS will provide the reimbursements to the victims as an account credit or as a bank check in the mail.
Under the CFPB order, the companies have agreed to: Ć€É&#x;.)*É&#x;*.#0É&#x;*,.#-ĹźÉ&#x; U.S. Bank and DFS are required to end deceptive marketing and lending practices and will be prohibited from making misleading claims or omissions when marketing add-on products through MILES or similar programs in the future. Ć€É&#x; 3É&#x; ,-.#./.#)(É&#x; .)É&#x; -,Ć? vicemembers: U.S. Bank has agreed to pay at least $3.2 million and DFS has agreed to pay $3.3 million to over 50,000 servicemember victims for violating the Truth in Lending Act and federal laws that prohibit deceptive marketing and lending practices. Servicemembers who had outstanding MILES loans between Jan. 1, 2010 and July 1 may receive restitution under todayâ€™s orders. Ć€É&#x;,)0#É&#x;, /(-É&#x;),É&#x;,Ć? its without any further action by consumers: Servicemembers are not required to take any action to receive their reimbursement. U.S. Bank and DFS will provide the reimbursements to the victims as an account credit
Illustration by Joe Schlaud
or as a check in the mail. Ć€É&#x;.)*É&#x;,+/#,#(!É&#x;."É&#x;/-É&#x;) É&#x; allotments for future loans: U.S. Bank and DFS have also agreed to modify the MILES program so that service-
members are not required to use allotments in order to participate. In related news, a Cullman, Ala., used-car dealer pleaded guilty for violat-
ing federal protections for active-duty military service members by refusing to reduce the interest rate and repossessing the vehicle he Continued on page 10
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USED CAR NEWS
NEWS BRIEFS Credit Union Network Marks Milestone
CUDL has announced that its lending network has expanded to include 10,000 dealers. The company reported that the CUDL lending network reached the record milestone with the growth of over 1,000 dealers in the last year, including dealer expansion as a result of their new operation in Quebec, Canada. The CUDL network includes more than 1,050 credit unions, representing 35 million members nationwide. CUDL credit unions have experienced 16 percent growth in funded loans thus far in 2013.
Website Offers Certification
Carvana announced the launch of Carvana Certified, its certified preowned extended warranty program. The all-inclusive certification program extends to every vehicle in stock. The Carvana Certified 100-day or 4,189 mile bumper-to-bumper warranty boosts the companyâ€™s existing slate of customer benefits and premarket services, which include a seven-day money back guarantee, a vehicle screening process and a 150-point Carvana mechanic-led inspection. Carvana also includes an Experian AutoCheck Vehicle History Report.
Salvage Chain Adds Sales
Copart Inc. has acquired Salvage Parent Inc., which conducts business as Quad City Salvage Auction, Crashed Toys and Desert View Auto Auction. Combined, these businesses operate at 39 locations in 14 states. Quad City Salvage Auction operates 23 facilities in 10 states, primarily in the north-central and northeast U.S., and stores, processes and auctions salvaged cars on behalf of the insurance industry. Crashed Toys operates 10 facilities in six states and stores, processes and auctions salvaged motorcycles, boats, jet skis and other power sport crafts. Desert View operates in six facilities, all of which are in California, and stores, processes and auctions charity cars.
the auction lanes, both physical and online. This automated system will allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers.
AutoIMS Updates Interface
Auto Auction Services Corp. (AASC) announced the release of a new tool called the Dashboard. Now available to all users of the companyâ€™s inventory management platform - AutoIMS - the Dashboard was designed in response to user feedback to make the initial AutoIMS home screen more useful. The Dashboard offers a new set of â€œwidgets,â€? or summary reports that
NextGear Joins AuctionACCESS
NextGear Capital announced a new partnership with AuctionACCESS. Through the use of the AuctionACCESS system, auctions have the capability to show dealers updated credit availability before they enter C R O S S WO R D by Myles Mellor
highlight portions of vehicle inventory that might require action. For instance, auction users will now immediately see how many new assignments they have received in the last 24 hours, along with the number of vehicles that are sitting at the auction without a condition report. Consignor users also have new widgets, including the number of vehicles with a condition report completed in the last 24 hours, vehicles newly secured at auction, and vehicles scheduled for sale that day. The Status Summary, Recent Reports, and Recently Viewed Vehicles are all existing tools that are now available on the Dashboard.
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: Sheila McGrath, Jenny King Columnist: Tony Moorby
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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.
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USED CAR NEWS
Out-of-State Sales Lose Tax Break JEFFERSON CITY, Mo. (AP) – Some Missouri residents no longer can gain a tax break by buying a vehicle from an out-of-state dealer or an individual with a for-sale sign in the window. Gov. Jay Nixon enacted a law that immediately reinstates local vehicle taxes for numerous cities and counties that have been unable to tax some cars, trucks and boats since a state Supreme Court ruling more than a year ago. Nixon twice vetoed previous bills that sought to re-impose the local vehicle taxes. His office said in a brief written statement that the previous bills “did not sufficiently protect Missourians’ right to vote on tax policy’’ but that the most recent version “addresses these concerns by requiring a public vote in local jurisdictions without a local use tax.’’ Some Illinois vehicle dealers in the St. Louis area had targeted Missouri consumers with the prospect of a tax break. Retailers in some other Missouri border cities also had seen more customers go elsewhere. “We were the only state where there was an advantage for the citizens of the state to not make purchases in the state,’’ said Sam Barbee, president and CEO of the Missouri Automobile Dealers Association. Cities and counties also had backed the legislation, because they had been losing tax revenues. But Friday marked only a partial victory for the Missouri Municipal League. That’s because the governor also signed a bill limiting the ability of governmental entities to restrict cellphone towers, which it had
urged him to veto. The vehicle tax legislation is a response to a January 2012 state Supreme Court ruling. The court said Greene County could not charge a local sales tax on a man who bought a boat from a dealer in Maryland. The ruling drew a distinction between sales taxes, which are collected from in-state retailers, and use taxes, which are levied on products used in Missouri but bought either from an out-of-state retailer or from someone who does not run a business. The Supreme Court said Greene County could not tax the boat because it wasn’t covered by the local sales tax and county voters had not approved a local use tax. The ruling had broad implications because a little less than half of Missouri’s 114 counties and most of its municipalities had no voterapproved use tax. The new law seeks to sidestep questions about the location and manner in which a vehicle is bought by redefining vehicle sales taxes to apply to the act of titling vehicles. The newly defined tax kicks in immediately. Within the next two years, local governments that did not previously have a voter-approved use tax must give voters a chance to repeal the titling sales tax for vehicles bought out of state or from individuals. Though legislative supporters are confident about the new approach, some attorneys have raised concerns that the measure still could violate state constitutional provisions by imposing a local tax prior to voter approval.
Truck Prices Pick Up Steam The used pick-up truck market is rebounding along with the housing market. Manheim reports that pickups have been the best-performing segment among all market classes, both in recent months and over the past year. Midsize pickups stand out even among this strong category, according to value guide Black Book. Black Book reports that used vehicles depreciated a very moderate 1.3 percent across all segments during June. However, the midsize pickups category saw very limited depreciation, with just a 0.7 percent monthly change for model years 2007-2011. The difference in depreciation
is even more noticeable when the twelve-month depreciation rate is compared. Used vehicles overall have depreciated 13.7 percent during the last twelve months. However, midsize pickups have seen just a 5.1 percent change during the same time period. Average prices on midsize pickups currently stand at $15,630 compared with year-ago prices of $16,470. The 2010 model year midsize pickups saw particularly low depreciation over the last twelve months, with just a slight change of 3.7 percent from original prices. Analysts say lower gas prices also boasted this segment.
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ÛÝÛÛJuly 15, 2013
USED CAR NEWS
Aftermarket Adds to Bottom Line ACCESSORY & APPEARANCE BEST SELLERS
Amplifiers and Speakers
Appearance/Accessory Car - Exterior
Appearance/Accessory - Interior
Audio and Sound Accessories - Other
Graphics and Window Treatments
Players, Changers, Receivers, Tuners
Racks and Cargo Carriers/Boxes
Truck Bedliners ,Other Bed Access
Truck Caps and Bed Covers
Source: SEMA Market Study
By Ed Fitzgerald
Lou Tedeschi has been accessorizing vehicles for years. He said he realized early on that when a customer said to him: “Hey, I can get that same vehicle down the street,” Tedeschi wanted to be able to answer, “No, you can’t.” Tedeschi, owner of ASPI Motors in Massachusetts, co-hosted an aftermarket workshop at the recent NIADA convention in Las Vegas. He and other panelists stressed that dealers should use the aftermarket to offer cars that customers can’t
find anywhere else. “I don’t see why any dealer in this room can’t add $5,000 to $6,000 a month in profit,” Tedeschi said. “The aftermarket makes it so you don’t blend in with everyone else.” Other panelists included Zane Clark of SEMA, Dave Edmondson of Roadwire Automotive Innovations and Fred Petrivelli of Keystone Automotive. Panel moderator Ellen McKoy, of EMK Marketing, showed off some statistics to back up the importance of the aftermarket. Continued on next page
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USED CAR NEWS
â€“ Continued from prior page
For instance, leading the way in 2012 sales for â€œappearance and accessoriesâ€? were, as would be expected, video/entertainment/ navigation systems at over $1.1 billion; cellular/iPod/Bluetooth products at $703 million and security systems at $448 million. But there were also surprises like $269 million in sales for bedliners and other bed accessories.
â€œYou have to choose products appropriate to the vehicle. Turn the vehicle into a desirable product â€“ people want creature comforts.â€? - Dave Edmondson Petrivelli said a bedliner is a relatively cheap investment with a very good return. â€œOnce you drop it in, the bed looks brand new. It costs $130 for me to deliver a bedliner. Iâ€™ll bring it right in â€“ even though itâ€™s like wrestling a bear,â€? he said. Clark said that customers are attracted to accessories. â€œIf you donâ€™t have it, theyâ€™ll probably find it somewhere else,â€? he said. Clark also said he feels that customers buy for â€œwants and needs.â€?
â€œAccessories help you satisfy both of those markets,â€? he said. â€œYou have to ask yourself why you are not accessorizing.â€? Edmondson said his people like to teach dealers how to install aftermarket equipment. He encourages the use of leather interior products. â€œSome OEMs have de-contented vehicles, especially pickup trucks, to move them more quickly,â€? Edmondson said. â€œHow can used car dealers benefit? You have to choose products appropriate to the vehicle. Turn the vehicle into a desirable product â€“ people want creature comforts.â€? Tedeschi said dealers must think outside of the box. â€œI donâ€™t go and radicalize my cars. I want to fix the problem,â€? he said. â€œI put pinstripes and new rims on a PT Cruiser and it was out the door after three days. It had been sitting for 120 days.â€? When asked why some dealers might not jump at the idea of aftermarket products, Tedeschi said there was a problem with a â€œmisconception.â€? â€œSome people think â€“ oh, that aftermarket sunroof will leak. Well, it wonâ€™t,â€? Tedeschi said. â€˜These are the same sunroofs made for the OEMs. In fact we have sunroofs that will close when you turn off the key.â€?
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PAGE 8 - QUALITY DEALER
Colorado Seller Wins National Quality Dealer Award By Jeffrey Bellant
LAS VEGAS – Two-time Colorado Quality Dealer Joe McCloskey added the title 2013 National Quality Dealer to his trophy case during the recent National Independent Automobile Dealers Association Convention & Expo here. McCloskey Motors in Colorado Springs sells more than 1,400 vehicles annually. The dealership consists of McCloskey Truck Town and McCloskey Imports and 4x4s, along with two service locations, McCloskey All Makes Auto & Truck Service and Joe’s Car and Truck Repair. The National Quality Dealer said the award is something he shares with his staff and community. “It’s a display of recognition for our co-workers that they’re being recognized for everything that they’ve (done),” he said. The dealership was cited for more than the cars it sold. McCloskey used his dealership as a hub to receive aid and served as a remote broadcasting site for nine radio during the Waldo Canyon wildfire last summer. The fire caused more than $450 million in damage, destroying more than 300 homes and causing the evacuation of more than 20,000 people. “We closed the dealership for a day and we held a McCloskey ‘donation station,’” he said. “We sponsored four non-profit groups and had fundraising for each one. All day long we were soliciting donations and had volunteers come in.” The effort raised more than $40,000. McCloskey then partnered with ADESA for a special sale that also raised money for the cause. The award will be a boost to the community that not only suffered through the Waldo Canyon fire, but also experienced the Black Forest fire that destroyed more than 500 homes earlier this year.
ÛÛÝ July 15, 2013
McClosky and his wife Ann started the business in 1989. He has been involved in the Colorado IADA since he opened and currently serves on the Board of Directors. He is the only two-time Colorado Quality Dealer and is the first Colorado dealer to win the national award since Richard Funk won in 1992. The NIADA also gave out two more awards during the event; the Ring of Honor and the Association Executive Award. Black Book President Tom Cross became the 23rd member of the NIADA Ring of Honor, the group’s most prestigious honor for a nondealer. Cross is credited with the launch of the company’s Commercial Vehicle Guide and the Daily Used Value Updates. “I’m very lucky to be part of this industry,” Cross said. “I work with such great people like Tim West and Ricky Beggs. “It’s such an honor to be up here. I don’t really feel worthy of it, but I appreciate it.” He has been in the industry for 25 years and has led Black Book since 2007. Cross is the third member of Black Book to receive the honor, joining Tim West, who won in 2004 and Gene MacDonald, who was one of the first winners in 1994. Texas IADA Executive Director Jeff Martin won the Association executive of the year honors in his sixth year heading the group. Membership has increased 38 percent since he took the reins and the annual budget has jumped from $630,000 to more than $1 million. Martin thanked the NIADA, the past winners of the award and his fellow current executives. “As most of them know, I’ve stolen all of their good ideas and taken them back to Texas,” he said. Martin celebrated his staff and credited them with the successes that led to the award.
Photos by Jeffrey Bellant AWARD WINNERS: The National Independent Automobile Dealers Association honored Joe McCloskey, shown with his wife, Ann (above), as the 2013 National Quality Dealer during the group’s annual convention in Las Vegas. The group also named Tom Cross, president of Black Book (below left) as the newest member of the NIADA’s Ring of Honor. Mike Linn, CEO emeritus of NIADA, presents Cross with his award.
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~ÛÝÛÛJuly 15, 2013
USED CAR NEWS
Quality Dealer Calls It Quits By Jenny King
Douglas Livy Jr,, dealer at Quality Motors of Ames, is leaving the business after 34 years. Livy, 67, is currently serving as Chairman of the Board of the Iowa Independent Automobile Dealers Association. Livy says he plans to stay active at IIADA but is getting out of retail. Travel, he says, is on his “bucket
list.” “We closed on the sale June 21,” Livy says. “The buyer bought a second property and will likely put up a mini-mall here.” That is after the new owner removes the concrete Livy put down and raises the property some six feet. “We were in a flood plain,” Livy says, who opened Quality Motors in 1979
Service Members sold to a man who was later deployed overseas with the Alabama National Guard. Carl Ralph Nuss, 75, entered his guilty plea to the two counts of the March indictment charging him with violating the Servicemembers Civil Relief Act. The act provides certain protections for service members called to active duty, including interest rate limitations and protection from civil suit, repossession and eviction. Nuss is owner of North Alabama Wholesale Autos in Cullman. In February 2011, he sold a 2002 Ford Sport-Trac to a 22-year-old man. The dealership sold the vehicle for $9,746 and, after a $2,200 down payment, financed the balance at 25
– Continued from page 3
percent interest per year, according to the indictment. In May 2012, the Guardsman, a private first class, was called to active duty in Afghanistan. In July 2012, according to the indictment, Nuss received a letter from the guardsman requesting that the dealership reduce the interest rate on his car loan from 25 percent to 6 percent, as required by the relief act. Nuss never reduced the interest rate and, two days after receiving the letter, hired two men to repossess the guardsman’s truck. The two men repossessed the vehicle without a court order, in violation of the Servicemembers Civil Relief Act, the indictment says.
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USED CAR NEWS
California Tops for Auto Theft Join Us!
California once again dominates the annual Hot Spots vehicle theft report released by the National Insurance Crime Bureau (NICB). Hot Spots is a per capita review of vehicle thefts from the nation’s metropolitan statistical areas. NICB data is in line with preliminary Federal Bureau of Investigation vehicle theft data for 2012, which appears to end an eight-year downward trend in vehicle theft. Final numbers will be published by the FBI in the fall, but preliminary 2012 FBI figures estimate a 1.3 percent increase in 2012 thefts from
the previous year. Not surprisingly, eight of the top 10 areas are in California with the remaining two from the state of Washington. The West region, defined by the FBI as the states of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming saw a 10.6 percent increase in vehicle thefts from 2011. The other regions of the countryMidwest, Northeast and South-reported reductions of 3.1, 7.9 and 2.9 percent, respectively.
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7/3/13 2:51 PM
~Â Ă›Ă?Ă›Ă›July 15, 2013
USED CAR NEWS
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Uncertainty Hangs over CFPB By Ted Craig
It is what is unknown about the Consumer Finance Protection Bureau that concerns those in the auto finance industry. Bill Himpler, executive vice president of the American Financial Services Association, told attendees at this yearâ€™s National Automotive Finance Association conference that his association and other trade groups are becoming increasingly concerned about the CFPBâ€™s lack of clarity. â€œItâ€™s like the sheriff has just pulled you over for speeding, but wonâ€™t tell you what the speed limit is,â€? Himpler said. These days, there is even uncertainty about who is running the Bureau. The CFPBâ€™s Richard Hackett spoke at the conference and offered some insights into the regulatorâ€™s plans. But then he left his post a few weeks later. CFPB Director Richard Cordrayâ€™s term was the result of a recess appointment by President Obama. Cordray may still have to step down if a court case voids several of these appointments, There have been some attempts to make Cordrayâ€™s appointment per-
menant, Himpler said. Republicans have said they have few problems with Cordray himself, but rejected his nomination in protest of the CFPBâ€™s overall structure. Joel Winston, an attorney with Hudson Cook, said at the NAF Association conference that he expects the CFPB to follow the Federal Trade Commissionâ€™s lead in regulation. Winston worked for the FTC until going into private practice A major focus of the FTC is misleading ads. A recent major example is the FTC crackdown of negative equity ads last spring. In these cases, dealers said the ads met the FTC requirements when aired on television. However, the necessary disclosures were cut off when transferred to the Internet. Winston said the main area where the FTC and CFPB differ might prove crucial. The FTC limits itself to practices that are unfair and deceptive. The CFPB expands that to unfair, deceptive and abusive. Winston wonders how a practice can be unfair or deceptive and not be abusive. That vagueness can be the cause of â€œmischief,â€? Winston said.
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7/9/13 9:52 AM
Your source for quality, value, selection: Chase. A broad selection of pre-owned vehicles from an industry leader. August 2013 Chase High Lines, featuring Jaguar Land Rover Financial Group
Chase ADESA Boston August 9, 23 508-626-7000
Brasher’s Salt Lake AA August 13 801-322-1234
Manheim New Jersey August 14, 28 609-298-3400
ADESA Charlotte August 8, 22 704-587-7653
Columbus Fair AA August 7, 14 614-497-2000
Manheim New Orleans August 14 985-643-2061
ADESA Cincinnati/Dayton August 6 937-746-4000
Manheim Atlanta August 1, 14, 15, 29 404-762-9211
Manheim Orlando August 6, 13, 20, 27 800-337-8491
ADESA Golden Gate August 13, 27 209-839-8000
Manheim Baltimore Washington August 27 410-796-8899
Manheim Pennsylvania August 1, 2, 15, 16, 29, 30 800-777-2053
Manheim Dallas August 14, 28 877-860-1651
Manheim Phoenix August 1, 8, 15, 22, 29 623-907-7000
Manheim Denver August 28 800-822-1177
Manheim Pittsburgh August 28 724-452-5555
Manheim Detroit August 8, 22 734-654-7100
Manheim Riverside August 6, 8, 20, 22, 27 909-689-6000
Manheim Fredericksburg August 1, 29 540-368-3400
Manheim Seattle August 21 206-762-1600
Manheim Milwaukee August 14, 28 262-835-4436
Southern AA August 21 860-292-7500
ADESA Houston August 7, 21 281-580-1800 ADESA Indianapolis August 6, 20 800-925-1210 ADESA Kansas City August 6, 20 816-525-1100 ADESA Lexington August 22 859-263-5163 ADESA New Jersey August 1, 15, 29 908-725-2200 ADESA San Diego August 15 619-661-5565 ADESA Tulsa August 9 918-437-9044 America’s AA-Chicago August 7 708-389-4488
Manheim Minneapolis August 21 763-425-7653 Manheim Nashville August 7, 21 877-386-5004 Manheim Nevada August 2, 30 702-361-1000
Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information.
ADESA Boston August 9 508-626-7000
Manheim Dallas August 14 877-860-1651
Manheim Pennsylvania August 1, 15, 29 800-777-2053
ADESA Golden Gate August 13 209-839-8000
Manheim Milwaukee August 28 262-835-4436
Manheim Phoenix August 15 623-907-7000
Manheim Atlanta August 14 404-762-9211
Manheim Orlando August 6 800-337-8491
Manheim Riverside August 8, 22 909-689-6000
Mazda Capital Services ADESA Boston August 9, 23 508-626-7000
Manheim Atlanta August 15 404-762-9211
Manheim New Jersey August 14, 28 609-298-3400
ADESA Charlotte August 22 704-587-7653
Manheim BaltimoreWashington August 27 410-796-8899
Manheim Orlando August 20 800-337-8491
ADESA Golden Gate August 27 209-839-8000 ADESA Kansas City August 20 816-525-1100 Columbus Fair AA August 14 614-497-2000
Manheim Detroit August 8, 22 734-654-7100 Manheim Milwaukee August 14 262-835-4436 Manheim Nashville August 7 877-386-5004
Manheim Pennsylvania August 2, 16, 30 800-777-2053 Manheim Pittsburgh August 28 724-452-5555 Manheim Riverside August 27 909-689-6000
Subaru Motors Finance ADESA Boston August 23 508-626-7000
Manheim Fredericksburg Manheim Pennsylvania August 2, 30 August 1, 29 800-777-2053 540-368-3400
Brasher’s Salt Lake August 13 801-322-1234
Manheim Milwaukee August 28 262-835-4436
Manheim Pittsburgh August 28 724-452-5555
Columbus Fair AA August 7 614-497-2000
Manheim Minneapolis August 21 763-425-7653
Manheim Riverside August 6 909-689-6000
Manheim Denver August 28 800-822-1177 Manheim Detroit August 8, 22 734-654-7100
Manheim New Jersey August 14 609-298-3400 Manheim Orlando August 27 800-337-8491
Manheim Seattle August 21 206-762-1600 Southern AA August 21 860-292-7500
*The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to Chase Bank USA, N.A. (“Chase USA”) and JPMorgan Chase Bank, N.A. (“Chase”). Retail / Loan accounts are owned by either Chase or Chase USA and lease accounts are owned by Chase. *Jaguar, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. Land Rover, the Land Rover logo, and Land Rover Financial Group are trademarks of Land Rover 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 JPMorgan Chase Bank, N.A. (“Chase”). Retail / Loan and lease accounts are owned by Chase. © 2013 JPMorgan Chase Bank, N.A. Member FDIC. All rights reserved. (12-381) 06/12
7/3/13 10:31 AM
~ÂƒĂ›Ă?Ă›Ă›July 15, 2013
USED CAR NEWS
Diesels Hold Value Better
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A new study found that diesel vehicles saved owners between $2,000 to $6,000 in total ownership costs during a three -to-five year period when compared to similar gasoline vehicles, according to data compiled by the University of Michigan Transportation Research Institute. The University of Michigan study â€“ Total Cost of Ownership: A Gas Versus Diesel Comparison â€“ was conducted for Robert Bosch LLC and the results were released at the 2013 Alternative Clean Transportation Expo in Washington D.C. â€œThe estimates of savings for three and five years of ownership vary from a low of $67 in three years to a high of $15,619 in five years, but most of the savings are in the $2,000 to $6,000 range, which also include the extra cost that is usually added to the diesel version of a vehicle,â€? the study states. In the mass market passenger car segment, the Volkswagen Jetta owner saves $3,128, the Volkswagen Jetta Sportwagen owner saves $3,389, and the Volkswagen Golf owner saves an estimated $5,013. In the luxury segment, all the diesel versions of the Mercedes-Benz E Class ($4,175), Mercedes-Benz GL Class ($13,514), Mercedes-Benz M Class ($3,063), Mercedes-Benz R Class ($5,951) and Volkswagen
Touareg ($7,819) save owners money in the three-year timeframe. All of the diesel vehicles had better miles per gallon than the gasoline versions with the diesels having between 8 to 44 percent higher miles per gallon. All of the diesel vehicles had lower fuel costs than all the gas versions of comparable vehicles, with 11 of the 12 vehicles showing double digit reductions in fuel costs, ranging from 10 to 29 percent. Similar to the three-year comparisons, five-year estimated fuel costs for diesel vehicles are less than those of comparable gas versions. The percentage difference in terms of the reduction from gas to diesel costs decreased for some diesel-gas comparisons as diesel prices began to increase. Eleven of the 12 diesel vehicles held their value better than comparable gas vehicles over the threeyear timeframe with eight vehicles showing double digit percentage savings ranging from 17 percent up to 46 percent. Nine of the 10 diesel vehicles hold their value better than comparable gas vehicles over the five-year timeframe, with five vehicles showing double digit percentage savings ranging from 10 percent up to 39 percent.
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7/9/13 1:43 PM
July 15, 2013 ÝÛÛ~
USED CAR NEWS
Online Auto Shopping Grows More Efficient The Internet is making car shopping more efficient. The 2013 Polk Automotive Buyer Influence Study, commissioned by AutoTrader.com, revealed that the amount of time consumers spend shopping for a car has decreased dramatically in the last two years; however, the percentage of their shopping time that is spent online has increased substantially. First conducted in 2011 and then fielded again in 2013, the study showed that new car buyers who used the Internet in the shopping process reported spending 13.75 hours shopping for a vehicle, a decrease of 5.25 hours since 2011. Similarly, used car buyers who used the Internet during the shopping process spent 15.25 hours shopping, a decrease of 2.75 hours since 2011. Previously, buyers spent an average of 60 percent of their shopping time online, but that percentage increased to 75 percent in 2013 (77 percent for new car buyers and 73 percent for used car buyers). These changes were likely driven by several factors, including the improved quality and quantity of listings, as well as better merchandising online, greater use of mobile devices and also macro factors such as the continually improving economy. The study also revealed that the
role of traditional media in the shopping process has decreased notably. Though all forms of traditional media showed decreases in usage, the biggest declines in usage of traditional media during the shopping process for both new- and used-car buyers were seen in print newspapers, television and direct mail. For used- car buyers, use of television exhibited the biggest decline. Use of television by used car buyers went to 12 percent in 2013 from 18 percent in 2011. Use of print newspaper went to 17 percent in 2013 from 26 percent in 2011, and use of direct mail went to 4 percent in 2013 from 9 percent in 2011. In addition to the key stats mentioned above, the study also found that: Three-quarters of car buyers indicate that they used the Internet during the shopping process, making it the most used source. Among Internet users, 62 percent of used-car buyers and 47 percent of new car buyers indicated that the Internet was the primary source that led them to the dealership where they bought a car, which was more than fifteen times that of any other media source cited in the study. The rise in Internet usage was driven primarily by domestic and
luxury buyers, who turned to the Internet in greater numbers in 2013 versus 2011. New car buyers use the Internet more to find special offers while used buyers look for actual vehicles for sale to a greater extent. Approximately two out of three of all car buyers do not contact the dealership prior to their first visit, with 62 percent of used car buyers and 67 percent of new car buyers citing “walked in” as the most com-
mon method of establishing initial contact with the dealer. The study was conducted among more than 2,700 car buyers and ran from December 2012 through April 2013. Ninety percent of buyers who were surveyed purchased a vehicle in the six months preceding their participation. The study used a combination of online and offline survey methods, resulting in a large, random representative sample of online and offline car buyers.
7/9/13 1:57 PM
~ ÛÝÛÛJuly 15, 2013
USED CAR NEWS
Chrysler Recalls Vehicles over Collision Concerns Chrysler is issuing another large recall. Chrysler is recalling 442,481 model year 2011-13 Sebring and 200 vehicles manufactured June 28, 2011, through Dec. 13, 2012; model year 2011-13 Dodge Avenger vehicles manufactured June 25, 2011, through Jan. 14, 2013; model year 2011-12 Dodge Nitro vehicles manufactured June 17, 2011, through Dec. 15, 2011; and model year 2011-12 Jeep Liberty vehicles manufactured June 17, 2011, through August 15, 2012. Electrical over-stress of a resistor in the occupant restraint control module may lead to the non-deployment of the active head restraints during a rear impact collision. In the event of a crash necessitating the deployment of the active head restraints, their non-deployment could increase the risk of injury. Chrysler will notify owners, and dealers will flash the Totally Integrated Power Module (TIPM) or replace the occupant restraint control module, as needed, free of charge. The recall is expected to begin in August. Chrysler’s recall campaign number is N38. In other recall news, Hyundai Motor Co. is recalling 5,200 model year 2012-13 Azera vehicles manu-
factured May 22, 2012, through Nov. 23, 2012. The occupant detection system may fail to properly differentiate whether the front passenger seat occupant is an adult, a child or a child restraint seat. If the occupant is incorrectly classified, in the event of a crash necessitating airbag deployment, the airbag may deploy with greater or lesser force than appropriate, resulting in an increased risk of injury. Hyundai will notify owners, and dealers will recalibrate the airbag system. The manufacturer has not yet provided a notification schedule. Hyundai’s recall number is Campaign 111. Mitsubishi Motors North America Inc. is recalling 3,181 model year 2011 Outlander Sport vehicles manufactured Aug. 26, 2010, through March 29, 2011. The panoramic glass roof may have been installed without primer being applied before the adhesive. Without primer being used, the panoramic glass roof may have reduced adhesion, possibly allowing the glass roof to detach from the vehicle, resulting in a road hazard to other vehicles – not to mention an unwanted surprise for the driver. MMNA will notify owners and dealers will inspect the panoramic
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glass to see if primer was installed. If primer is not present, the glass will be reinstalled. MMNA has not yet provided a notification schedule. MMNA’s recall number is SR13-007. Tesla Motors Inc. is recalling 1,228 model year 2013 Model S electric vehicles manufactured May 10, 2013, through June 8, 2013. An improper method for aligning the left hand seat back striker to the bracket may have weakened the weld between the bracket and the frame of
the vehicle. In the event of a crash, the left hand seat back may not stay mounted, increasing the risk of injury to passengers. Tesla will notify owners, and Tesla Service Centers will inspect the left hand second row strikers. Tesla will add additional mounting hardware to ensure a proper joint between the bracket and the frame, free of charge. The manufacturer has not yet provided a notification schedule.
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7/9/13 1:42 PM
July 15, 2013ÛÛÝÛÛ~
USED CAR NEWS
– Continued from page 1
The succession plan has been in the works during the past two years, Linn said. Linn will move back to North Carolina to be near his children and grandchildren. Linn said his goal was to have a “seamless transition” for the industry and for the members. Jordan will serve under the title of executive vice president. “I am humbled by the faith and trust Mike Linn and the NIADA executive committee have placed in me to carry the torch into the future,” Jordan said. Linn received a standing ovation as he announced details of the succession plan during the Board of Trustees meeting, but he received an even bigger honor at the end of the convention. The NIADA honored Linn by giving him the group’s first ever lifetime achievement award, naming it the NIADA Michael R. Linn Lifetime Achievement award. The award cites his “unparalleled and selfless dedication” to the national association, as well as the Carolinas IADA. A surprise ceremony during the NIADA’s grand banquet featured video tributes from various leaders in the used-car and auto auction industries. NIADA past-president Don
Fincher, in his video message, praised Linn for leadership. “Even this award is small in comparison to what you have given us and the association,” he said. Jordan said he was glad to have had the experience of working sideby-side with Linn over the past couple of years. “The NIADA is a much better place because of (Linn’s) contributions,” Jordan said. Linn accepted the award with his wife, Nancy, at his side. “This is amazing,” he said. “I had no idea. I don’t know how in the world they kept this secret.” Linn thanked all of the people he has worked with over the years and also drew attention to Nancy. “Without her and her support, many of the things that I have accomplished for the industry,” he said, “would not have been possible.” Linn made a point of asking Jordan to stand and be recognized during the award ceremony. Although Linn will be moving back to North Carolina, he will continue to head the association’s Internet and television broadcasting and other new media. “I want to further build upon that,” he said. “I will not be going away.”
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7/9/13 3:27 PM
ÛÝÛÛJuly 15, 2013
USED CAR NEWS
PEOPLE IN THE NEWS KAR Promotes Two Execs
KAR Auction Services Inc. announced the promotions of Peter Kelly to the position of chief technology officer and Lisa Price as executive vice president of human resources. Both Kelly and Price will report directly to KAR CEO Jim Hallett. Kelly most recently served as president and CEO of Openlane, which KAR acquired in late 2011. Price served as vice president of litigation and employment counsel for KAR and all of the company’s business units. Kelly, who co-founded Openlane in 1999, grew the company from concept stage to an online automotive auction operation. During this time, he held several executive positions in finance, operations, management and customer relations. Kelly next oversaw a technology integration that involved migrating all of ADESA’s online business to the Openlane technology platform. In his new role, Kelly will define and implement best technology practices across all business units, identify and offer insight on appropriate technology-related investments, and track technology standards, industry trends and emerging technologies. A major part of his focus will be the online strategy and execution for ADESA, including
Openlane and its customers. In her new role, Price will oversee all of human resources’ functions for KAR and all its subsidiaries, including ADESA, Insurance Auto Auctions and Automotive Finance Corp. Before joining ADESA as corporate counsel in 2005, Price worked in private practice for six years in the areas of employment law, litigation and compliance issues. She is skilled in the areas of workers compensation, employee relations and employee benefits as well as risk management.
Remarketer Names Development Director Loan Portfolio Servicing (LPS) and Caprock Auto Remarketing announced Greg Harris has joined the two sister companies as director of business development. Harris brings nearly 30 years experience in subprime auto finance, auction sales and vehicle remarketing to this position. Harris joins France’s team from his previous position at Manheim, where he was part of the market sales group. While at Manheim, Harris increased year-over-year dealer consignment activity and Manheim product utilization. Prior to his role at Manheim, Harris was director of vehicle remarket-
ing at Triad Financial. He also spent 12 years at Honda Financial Services helping lead their remarketing initiatives. Harris’ previous experience includes collections and recovery work with Nissan Motor Acceptance and Ford Motor Credit.
Floor Planner Appoints Western VP NextGear Capital has announced the appointment of Randy Dohse to the role of vice president of operations and business development for the Western region of the United States. Dohse, who previously held the position of vice president of customer service, will have oversight of the rapidly developing growth throughout the Western region of the US. Dohse is a graduate of the University of Wisconsin and holds a BS in economics. He began working with NextGear Capital’s predecessor, Dealer Services Corporation, in 2005 and held numerous leadership positions throughout the company.
NAC Adds IT Director NAC recently announced that Tony Zimmerman, former senior development manager of corporate systems and business intelligence at Safe Auto, has joined the company as director of information technology. Leading a team of sea-
soned IT professionals, Zimmerman will oversee and be responsible for driving the analysis and re-engineering of existing business processes, identifying and developing the new tools and capabilities, reshaping the physical infrastructure and network accessibility of NAC’s enterprise system, and expanding their knowledge resources. Zimmerman comes to NAC with over 20 years of IT and insurance industry experience, over which he has led application development teams, managed strategic, boardlevel projects, and built IT processes and governance methodologies from the ground up.
Exec Oversees Relationships
Datalogix has hired Stephen Dooley, a longtime automotive industry sales leader, as vice president of client partnerships for DLX Auto. Dooley brings deep sales relationships with major automakers and dealers through past positions with OutdoorHub, Jumpstart Automotive Group, Newsweek Detroit, Geocities, and US News and World Report. At Datalogix, Dooley will oversee all relationships with the automotive OEMs, dealer groups, dealer associations, their advertising agencies, and other strategic partners in the auto industry.
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7/8/13 3:50 PM
RETAIL MARKETS OREGON
Vince Powell, president, Powell Motors Inc., Portland, Ore.: “This is a family business, opened in 1933. My dad started the company, first selling cars for $4 to $8. “I grew up around the business. After college, in 1971, my dad asked if I would come to work for him. Forty-two years later, here I am. “We have one location. We’re just a small, familyrun operation. “We carry 35 to 40 units. I used to carry 50 to 55. But I just can’t get the inventory. Recently, I fell below 30 and it gets really hard to sell when you don’t have the selection. “To me, the shortage of inventory is the result of 2008 to 2011, when the new-car manufacturers sold four million to five million fewer cars for four consecutive years. There’s always been a shortage of nice cars. Now the shortage has been magnified. Plus, new-car dealers have gotten into the used-car business more.
“We sell 20 to 25 units per month. “The average retail price is between $8,000 and $12,000. It’s probably less than last year, since I have tried to concentrate on less expensive cars. “I do an extreme amount of reconditioning on my cars. I probably average $1,500 per car in reconditioning, including tires, brakes, etc. I do a lot of preventative maintenance. “We don’t have our own service shop. We have two or three shops we use for service. “Our inventory is probably 80 percent import and 20 percent domestic. “I handle more Japanese and Korean vehicles on the car side. “In small pickups, it’s probably the reverse, which is more domestic. I try always to have a selection of small pickups, like Chevy S-10s or Ford Rangers. I don’t handle any fullsize pickups. “I carry cars from $5,000 to $15,000. For the stuff that’s $12,000 to $15,000, I prefer low mileage –
Compiled by Jeffrey Bellant in the 20,000- to 40,000mile range. “But I’m not afraid of buying 100,000- to 120,000mile cars, as long as they’ve been maintained. “For advertising, we use the Internet. AutoTrader. com, Cars.com and Craigslist are the top three. “I just sold a 2003 Lexus ES 300. It was a nice car with all of the service history. It had 74,000 miles. We acquired that vehicle from the original owner. “We got $13,500 for that. “I work really hard to find a Carfax One-Owner car with all the service history. I think that’s a real plus for consumers.”
Byron Riley, general manager, Uncle Buddy’s Pre-owned Autos, Houston: “We’re in our 45th or 46th year. It was started by my dad, who was ‘Uncle Buddy.’ “I’ve been with the dealership since 1994. “We have on location. We keep somewhere between 30 and 40 cars on the lot. We’re probably about the
same as last year. We may go as low as 25 , but we’re always in the buying mode during that time. “We’re doing between 15 and 20 deals per month. “Mostly we get our vehicles from auctions. I also buy from some wholesalers. “We used to do mostly buy-here, pay-here. But now I do mostly deep subprime, which is the same customer I was doing buyhere, pay-here with. “I have a small finance company that buys a lot of my deals. “It’s still similar to buyhere, pay-here in that we get to approve the deal. We have complete authority to approve the deals and deal structure. “Our inventory is probably 80 percent domestic to 20 percent import. That’s similar to last year. “Sometimes we’ll carry 50 percent trucks and 50 percent cars. Sometimes it’s 60 to 40 (either way) depending on the market. “On my trucks and sport utility vehicles, I’ll carry them up to 150,000 miles “For cars, I like to re-
ally stay below 130,000 to 135,000. That’s the same as last year. “For model years, I’ll carry cars from 2004 to 2008. “On the trucks, those will go older, of course. I’ll go down to 2002s and 2003s. “Our average reconditioning cost is probably about $500. It’s the same as last year, but it’s still too much. “I still advertise heavily on Craigslist. I just got back on television. It’s our second month back on TV. “Years ago I did television and just wanted to try it again. I’m getting some really good buys. I’m buying by specific zones as opposed to citywide. “I’ve also done direct mail though door hangars. That works really well. “We also do some promotions through our Facebook fan page. “I used to have my own service shop, but I don’t anymore. I sub that all out. It just became a cost factor. “Recently, we sold a 2005 Chevy Impala. It had 160,000 miles.”
7/8/13 3:31 PM
Ă›Ă?Ă›Ă›July 15, 2013
USED CAR NEWS
WHOLESALE MARKETS WASHINGTON
Bob McConkey, president, DAA Northwest, Spokane, Wash.: â€œWe have eight lanes. We run eight once a month and we run six to seven lanes the other weeks of the month. â€œOur average weekly volumes run about 1,200 units. During our monthly promotional sales, weâ€™ll run from 2,000 to 2,200. â€œThose numbers are coming back. Just in the last 90 days, Iâ€™d say weâ€™re starting to see volumes starting to creep back up. â€œConversion rates had been good up until the last five weeks. We saw the typical post-tax time slowdown and our percentages dropped into the mid-upper 50s. â€œI was anticipating and predicting a typical rebound in June, which weâ€™ve seen (each year) for as long as I can remember. â€œBut this year has been the exception to that (rule). Weâ€™ve seen it kind of continue to slide. Weâ€™re seeing sales percentages hover in the low 50s, which is not typical for this time of year.
â€œOn a normal day, weâ€™ll draw 500 dealers. On a big day weâ€™ll draw 700 dealers. The mood among dealers is good. They are upbeat, profitable and selling cars. The wholesalers, however, are in an adjustment mode. â€œBut the moods overall are very good. â€œI think itâ€™s going to be a steady and gradual process. I donâ€™t see a big run-up in prices. I think prices are going to continue to moderate. I think you need to just keep trading for vehicles. â€œWe have a closed Ford sale once a month and an open Ford sale twice a month. We also have a bunch of fleet-lease. Avis Budget is our biggest account. We probably run more than 100 cars for Avis Budget. â€œOur factory and fleet business is about 30 percent, with dealer consignment making up 70 percent. â€œWeâ€™re one of two independent sales that has the Harley Davidson Financial account. We have a motorsports pavilion and dedicated motorsports staff and department. Weâ€™ll run well
Compiled by Jeffrey Bellant over 100 motorcycles per month. â€œWe also have an RV sale which is similar in volume. â€œOur average price is around $9,400 to $9,500. I would say thatâ€™s probably flat from this time last year. â€œThe truck market is very dominant out here and so it has held up well. But highmileage trucks have been (hurt) by the market. There are a lot of those out there.
Kristie L. Griffin, president, Greater Milwaukee Auto Auction, Milwaukee, Wis.: â€œWeâ€™ll be having our ninth anniversary sale on July 25. â€œWe have five lanes and weâ€™re running five. Weâ€™re stuffed full. We run 800 to 1,000 units per week. â€œWe also have a General Motors factory sale every other week. Through that weâ€™ll run anywhere from 200 to 300 during the summer time. â€œOur volumes are up from this time last year. Weâ€™re very blessed. â€œSales percentages were running in the low 60s. But
now weâ€™re running in the low 50s. But thatâ€™s consistent with where we were last year and with the national average. â€œWhen our sales percentage dropped, our sales force got more ambitious and they increased our consignment so that our (sold units) would maintain. â€œThe number of dealers weâ€™re getting in the lanes is around 400. â€œWhen you can offer your dealers 800 to 1,000 cars every week, youâ€™ll get all the buyers. â€œPlus, all of our lanes are Simulcast, so dealers from all over the country can bid online as well. We have pictures of all of our cars online. â€œOur strong buyer base keeps retention high. That keeps sellers bringing their cars to the auction. â€œIn our open sale, weâ€™re only selling 5 percent online. Dealers are looking at cars online the night before a sale, getting an idea of what they want and then coming to the (physical sale). â€œBut in our factory sale,
weâ€™re selling 50 percent of our units online. We feel that percentage is so high because those cars are absolutely perfect, averaging about 10,000 miles on them. In our open sale, they have an average of 50,000 miles. â€œDealers are coming from here in Milwaukee, northern Wisconsin and Chicago. Right now, theyâ€™re saying that business is consistent and strong. â€œWe specialize in fresh new-car trades. They are 80 percent of our volumes. Thatâ€™s what weâ€™re known for. â€œWe also have units from GM, GM Financial, Ally Financial, ARI and various local banks. â€œIn our open sale, the average price is $4,000. Last year, we were at $3,600. â€œIn our factory sale, the average priced car is $20,000. Last year, we were at $18,000. â€œThe cars with eyeball, something like a Grand Prix that has a nice body style, seem to be doing well. â€œBut dealers are not paying crazy money for junk anymore. Junk is junk.â€?
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7/9/13 1:56 PM
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES JULY 2013
SOURCE: BLACK BOOK
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 Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Ford Focus SE 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 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 Ram Dakota Bighorn Ext Cab Dodge Grand Caravan Express 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 BMW X3 XDrive28i 4D SAC
Jul-12 20100 26500 13900 13700 20200 14600 17550 19700 25100 13200 Jul-12 25800 27500 63300 15400 15050 29600 41000 12700 13500 14800 12750 15600 13800 17000 Jul-12 49350 32400 21500 19600 18250 20575 29975 15875 15875 17775 28775 21125 22025 24450 22800 34100
Jan-13 18100 25800 11600 11800 17250 12050 14600 16900 22100 10700 Jan-13 23200 24200 55600 13750 13950 27100 35300 10600 11850 13150 10650 14050 11900 14400 Jan-13 45350 29800 20875 19125 16650 19975 26600 14925 13975 16775 26575 19625 20775 24225 21825 31550
Jul-13 16100 23800 11350 11100 16900 11000 14000 15850 22100 10800 Jul-13 22900 24000 48200 14050 12500 25300 31600 10350 11350 12650 10100 13650 11500 14600 Jul-13 43700 26950 20450 19650 15300 19325 25950 15275 13500 14650 25925 19100 18825 24025 22175 30750
Projected Figures Jul-14 Jul-15 13575 11675 17325 14475 9400 8050 9400 8175 13600 11700 9175 7800 12975 11600 12800 10850 17175 14225 8875 7475 Jul-14 Jul-15 18650 15950 19100 16050 41925 36125 11975 10475 10350 8525 21675 19025 26550 21650 8575 7200 9850 8600 10850 9475 8425 7300 11525 10225 9750 8475 11850 10025 Jul-14 Jul-15 35650 30250 22725 19400 16500 14000 16800 14675 12350 9925 16250 14375 22325 19225 13175 11700 11100 8425 13375 11225 20625 17075 15500 13400 15850 13475 18900 15425 18775 16450 24725 20375
2009 MODELS 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 Ford Focus SE 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 BMW X3 XDrive30i 4D SAV
Jul-12 10950 16600 7850 10250 13800 9650 13300 11550 17950 9850 Jul-12 20400 19600 49200 12550 9850 22600 27000 9500 11050 11850 10450 12600 10500 12900 Jul-12 35700 20100 16575 17250 12425 17000 24000 12325 11250 14200 14825 16300 13075 15825 19450 25000
Jan-13 10200 15900 6800 9200 12500 7500 10800 10000 15800 8050 Jan-13 18400 17900 41900 11250 8300 20200 22800 8200 9800 10600 8500 11250 9100 10900 Jan-13 34850 18550 15975 16325 11575 15475 22275 11425 9800 13275 14425 15775 11975 15300 18550 22650
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 Ford Focus SE 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 BMW X3 XDrive30i 4D SAV
Jul-12 16750 19100 9650 12200 14800 12300 15150 17000 21000 11750 Jul-12 23000 23200 57900 13900 11850 26000 36400 11100 12100 13400 11450 14000 12100 14500 Jul-12 42150 29100 18700 18100 15450 19125 26525 14025 13525 15600 19425 18675 19275 18625 21525 29250
Jan-13 14950 18500 8400 10400 13600 10400 13000 14900 18850 9400 Jan-13 20600 20800 48700 12450 9800 23600 31300 9500 10550 11850 9800 12550 10350 12500 Jan-13 39750 27100 18150 17575 14175 18200 23600 13150 11600 15100 17450 17350 18350 16725 20300 27050
Jul-13 14200 18100 7850 9800 13550 9650 12600 14400 17800 9400 Jul-13 20500 20200 40800 12600 9450 21900 28000 8700 10100 11400 9300 12150 10300 12300 Jul-13 38050 25100 17400 18000 13450 17550 23250 12725 11600 13500 17250 17000 17750 16475 20650 26300
Projected Figures Jul-14 Jul-15 11775 9900 13925 11575 6650 5750 8075 6900 10875 9225 6775 5350 11150 9750 11100 9250 13900 11325 7450 6150 Jul-14 Jul-15 16150 13300 16400 13600 35700 30675 10525 9050 8150 6700 18450 15625 21625 17350 7175 5975 8650 7350 9575 8100 7600 6425 10075 8800 8400 7300 10175 8600 Jul-14 Jul-15 30825 25500 19850 16300 13900 11625 14825 12900 10000 7875 14550 12700 19100 16100 10600 9275 8175 6475 11375 9400 13850 11225 13475 11600 14200 11900 14500 11950 16825 14575 20850 16875
Jul-13 8100 12500 5200 8300 10900 5450 9400 7150 12200 6400 Jul-13 14700 14400 23700 9900 6950 16200 17600 6250 8350 9050 6800 9650 7600 9450 Jul-13 27800 15400 12675 14850 8000 13000 18450 9425 7750 10250 11550 13100 8400 11325 16850 17200
Projected Figures Jul-14 Jul-15 6300 5350 8975 7425 4525 3900 5925 4700 8650 6975 3775 2850 8100 6900 5450 4350 9175 7600 4750 3600 Jul-14 Jul-15 10700 8775 11100 9300 16875 13375 7725 6475 5225 4200 13325 11300 13525 10575 4825 3900 5950 4925 6575 5450 5150 4225 7525 6400 6075 5175 7150 5775 Jul-14 Jul-15 19825 15825 11100 8900 9325 7600 11150 9275 5875 4700 10525 9000 13525 10800 7800 6675 5175 4275 7675 5925 8900 6700 9775 8200 6750 5375 9425 7500 13025 11000 13525 11025
2008 MODELS Jul-13 9650 15000 6200 8700 12250 6950 10600 9000 14700 7500 Jul-13 18700 17200 35900 11250 8100 18900 21000 7200 9400 10200 7850 10850 8800 10750 Jul-13 33750 16750 14700 16400 10075 15550 22000 11075 9375 11650 14100 15550 10450 14875 19000 21300
Projected Figures Jul-14 Jul-15 7750 6575 11750 9625 5500 4750 6925 5900 10275 8600 5050 3900 9300 8050 7050 5850 11275 9300 5900 4775 Jul-14 Jul-15 13750 11225 13600 11125 30150 24850 9100 7775 6725 5475 15550 13325 17450 13775 5950 4800 7350 6200 8275 7000 6325 5300 8775 7575 7150 6125 8575 7050 Jul-14 Jul-15 26025 20975 13850 11125 11450 9500 13100 11075 7875 6075 12975 11200 16975 13850 9175 7975 6975 5225 9625 7750 11100 8975 11925 10125 8550 6975 12250 9900 14975 12975 16425 13500
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 Ford Focus SE 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 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 BMW X3 4D SAV 3.0si
Jul-12 9200 15000 6850 8800 12400 8050 11600 9550 16300 8050 Jul-12 16050 17300 29800 11300 8300 19000 21600 8150 9950 10650 9350 11400 8950 11950 Jul-12 30250 18100 14850 15600 10650 14275 20825 10775 9075 11950 13225 13325 10950 13400 17600 20750
Jan-13 8100 13400 5650 8100 11200 5950 9400 7550 13500 6650 Jan-13 14700 15400 27100 10150 7000 17000 17800 7200 8600 9300 7550 10100 7750 9850 Jan-13 28650 16200 13500 14525 9000 13225 18800 9700 8000 10900 11725 12600 9200 11975 16450 18900
7/3/13 4:05 PM
ÛÛÝÛÛÛJuly 15, 2013
USED CAR NEWS
Compiled By Jeffrey Bellant
Dealer Wins Manheim Award
SERVING OTHERS: Eric Freeman, owner of Freeman Motor Co., in Portland Ore. (third from left), receives a check from Manheim’s Jay Cadigan (far right). Eric’s wife, Jenny Freeman, and Marshall Zoerner from the dealership are also pictured.
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Manheim and the National Independent Automobile Dealers Association (NIADA) presented the third annual Dealer’s Edge National Community Service Award to Freeman Motor Company of Portland, Ore., during the NIADA Convention and Expo at Caesars Palace in Las Vegas. “Independent auto dealers who share their time, talent and resources to improve lives locally and globally deserve to be honored,” said Jay Cadigan, vice president of industry relations for Manheim. “Eric and Jenny Freeman of Freeman Motor Company, this year’s recipient of the Dealer’s Edge National Community Service Award, have embraced charitable giving and volunteerism to empower the lives of children and families through their tireless efforts.” Cadigan presented Freeman Motor Co. with a check for $5,000 to be donated to Bridge Meadows, the dealership’s charity of choice. Three other finalists for their charitable efforts included: The Car Store, Oklahoma City, Okla.; City Auto Sales, Memphis Tenn.; and Alamo Valley Auto Sales, Kalamazoo, Mich.
ADESA Donates Car Sale to Charity
ADESA and sister company Automotive Finance Corporation have raised $19,000 to benefit the National Independent Automobile Dealers Association Foundation. The two companies donated a 2010 Chevrolet Malibu LTZ and co-sponsored an auction of the vehicle at the recent NIADA Convention and Expo in Las Vegas. “It is always a pleasure to participate in events that give back to members of our industry,” said Tom Caruso, president and CEO of ADESA. Frank Fuzy with Century Motors of South Florida placed the winning bid of $19,000 on the pearl white
Chevrolet Malibu LTZ. The car features a two-tone interior, factory entertainment system (including TVs in the head rests) and brand-new, 20-inch custom wheels and tires. Proceeds from the auction will benefit the NIADA Foundation, which awards scholarships to deserving college-bound U.S. students. We invite news items and top-quality photos from our readers to be considered for “Around the Block.” Please include the name of a contact person and a telephone number. Send items and photos to: Jeffrey Bellant Mail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. Fax: (586) 772-9400 e-mail: firstname.lastname@example.org
7/9/13 2:51 PM
July 15, 2013Ă›Ă›Ă?Ă›Ă›Â‚
USED CAR NEWS
Disconnected Jottings From Tony Moorby... The Frist Center for the Visual Arts in downtown Nashville occupies an imposing spot near the top of the rise on Broadway. A three-block area encompasses architectural styles from Victorian Gothic Revival (Union
favorite of mine; from cocktail shakers to the Chrysler Building, accepting sleek simplicity to complex layering of surfaces and designs. The Frist Center is next to Union Station for good reason â€“ it was the central
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Station) to Mid-Century Modern (the Federal Estes Kefauver Building, where I became an American citizen) and nearly all styles in between. The one that, for me, stands alone is the Frist Center â€“ an Art Deco masterpiece echoing chiseled, sleek confidence. Itâ€™s firmly planted on a broad stone and marble pilastered base, allowing a solid lofty rise and oozing the elegance of the nineteenthirties. The Art Deco period is a
Post Office for Nashville when mail was distributed by train. Close inspection of other surroundings offers insight into how art was incorporated into buildings; the supports of bridges and overpasses in the rail yards, now used as parking areas, still have streamlined trains carved into the stone of the abutments. The Frist was built between 1933 â€“ 34 and proudly exudes the growing wealth of the city at the time and is stunningly beautiful. The interior of The Frist is even
more breathtaking with stone and metal designs outlining themes of agriculture, commerce, travel and government. The ground floor display areas have floors tiled in crosscut wood so you can see the rings exquisitely accented in six-inch squares. The effect is warm, sturdy and welcoming. From now until the middle of September the Frist is hosting an exhibition called â€œSensuous Steel â€“ Art Deco Automobiles.â€? Twenty vehicles from a 1929 Cord L-29 Cabriolet to 1941 Chrysler Thunderbolt could not be more at home. Perfectly cosseted in sympathetic surroundings the cars look fabulous. It would be hopelessly redundant for me to try to describe the sexy flowing lines of each of the cars and motorcycles on display and I can only implore you to visit in person or on-line. I have to say that, as a member of The Frist, I was treated to the premiere evening event with Doug Walton, a best buddy and equal car nut, and there is nothing to equal seeing these cars â€˜in the fleshâ€™. Thatâ€™s a good allusion; the
C R O S S WO R D
1938 Talbot-Lago T-150C-SS Teardrop is as akin to a reclining nude as I could think of. This is car-porn for car people. Each salon exhibit brings a greater thudding pulse than the last. The lascivious shapes attract your eye and you follow a mesmeric dance around each car for a glance that no one else has noticed or a juxtaposition of fender and hood that no alteration could possibly improve. You can see a list of cars through Google Images. Various views of hood ornaments, as beautiful as they are well engineered, underscore the reverence with which these cars were built. Thereâ€™s a companion coffee table book titled the same as the exhibition with photography that shows the cars at their best by Ken
Gross and Peter Harholdt or through the Frist Center. The cars have been gathered from all kinds of collections and to see a Delahaye, Voisin, Bugatti or Cord all in one exquisite place is a feast for the eyes. My personal favorite is possibly the simplest; Edsel Fordâ€™s 1934 Model 40 Special Speedster provides the quintessential Art Deco streamliner style. No ornamentation is necessary as the whole is a perfect ornament. These cars were built for millionaires and movie stars â€“ no expense spared and no quarter given to frugality. No context for todayâ€™s motoring pleasure of squeezing room as tight as an airplane seat â€“ all ludicrous luxury and I love it. And itâ€™s on my doorstep. Yâ€™all come!
To see past columns from Tony Moorby, visit www.usedcarnews.com/ columnists/tony-moorby
Sponsored by INSURANCE AUTO AUCTIONS
By Miles Mellor
1. Affordable small Ford 4. Freeway division (2 words) 9. Subaru sports car 10. Four-door Ford 11. Station wagon from Subaru 14. Spanish, for short 16. Braking system 17. Minivan aka Carnival (2 words) 21. School transport 23. Factory activity 26. Suspension parts 27. Time to remember 28. Things on a daily list (2 words) 29. Famous French auto brand
32. Purpose 34. Infrared, for short 35. Competitor of the Accent and Sonic 36. Lancer and Jetta competitor 39. Concerning 41. Glove box item, in the old days 42. While 43. Chicagoâ€™s state 44. Honda SUV 47. Rainbow 48. Craze 50. Christmas ___ 51. Compact that was sold under the Saturn marquee 53. Electric Nissan model 54. After-tax amount 55. Trust (2 words)
1. Compact honda 2. Luxury Hyundai 3. Place for the luggage 4. To and ___ 5. Bentley model 6. Bar bill 7. Former Rogue and Rebel maker 8. Lexus ___ 350 12. Topeka state 13. Lamborghini model 15. VW 16. Large car from Kia 18. Settle upon 19. ____ Dhabi 20. From ___ to sixty 22. Provo state 24. Alternative to a convertible 25. Gran Turismo maker 26. Trunk item 30. Fairlady and Figaro maker 31. Rental car company 33. Little sip 37. Special place in the market
35 39 44 50 53
Answers to the 7/1/13 puzzle 1
38. Mobile state 39. Vectra maker 40. ___ star rating 41. Show-Me-State, for short 45. Green field 46. Undivided 49. Press to collect a debt 52. Happening!
W H H
A E 16
A S I
V A A
A U K
J E P
A K 40
Y S 43
Answers to this puzzle in the 8/5/13 issue. Call 1.800.794.0760 for a FREE subscription.
7/8/13 3:55 PM
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YOU CAN PLACE YOUR AD IN THIS SECTION FOR AS LITTLE AS $56!
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Sent to dealers and remarketing professionals, Auction Extra is a new addition to our newsletter offerings. Auction Extra is sent every Friday at 1 p.m. EST, and keeps you informed about the latest happenings in the auto industry.
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7/8/13 2:07 PM
2013 Best of the Auctions
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7/3/13 10:25 AM
TD Auto Finance
See what our service can do for your sales.
Get service you can count on. At TD Auto Finance, we’re committed to helping you grow your business. And we go to great lengths to meet your needs. We’re open longer so you can submit deals seven days a week, and with TD Auto Finance you can speak to a live analyst when you need to. You also get the expertise of our dedicated Dealer Relationship Managers, who work with you to customize business plans and maximize profitability. It’s just what you get from a financing partner with over 45 years of experience.
To learn more, call 1-800-200-1513 or visit www.tdafdealer.com 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.
6/13/13 2:36 PM
7/3/13 3:56 PM