August 19, 2013
www.usedcarnews.com
ON THE WEB: Consumers Take Fewer, Shorter Test Drives
SEE OUR AD INSIDE ON PAGE 5
Classic Car Sales Heat Up This Summer
According to a survey by AutoTrader.com, 44 percent of shoppers believe they only need to test drive a vehicle one time before making a decision, and nearly half (49 percent) believe they only need 30 minutes or less to thoroughly test a vehicle.
Industry Veteran Opens His Own Auto Auction
Industry veteran Tim DeBerry has chosen his home state of Colorado to build his first auto auction. Mile High Auto Auction will hold sales every Tuesday at noon at the newly renovated facilities at 9750 East Costilla Avenue in Centennial, Colo.
Used Hondas Move Fast Off Dealers’ Lots
Used-car sales by franchise dealerships are up in the first half of 2013. Hondas sold faster at franchise dealerships than any other used-car brand in the second quarter; Lincolns sold the slowest.
Photo by Jenny King MR. BELVEDERE: This 1956 Plymouth Belvedere Convertible, with push-button automatic, a Hollywood steering wheel, power top and Highway Hi-Fi, sold for $90,750. By Jenny King
PLYMOUTH, Mich. – Duesenbergs, collectible Cadillacs from several decades, an Imperial Crown Convertible and a number of Packards highlighted the RM Auctions event here on the grounds of the Inn at St. John’s.
The July 27 sale generated over $7.7 million and included 77 automobiles, two boats and one motorcycle. RM reported a 90-percent sales rate. A 1929 Duesenberg Model J Dual-Cowl Phaeton was the high seller, bringing a hammer price of $682,000. That was followed by a 1932
Packard Individual Custom Eight Convertible Victoria at $374,000 and a 1932 Packard Twin Six Sport Phaeton at $330,000. Michigan residents Linda and Richard Kughn offered for sale several vehicles from their respected collection. Sales successes included the Kughns’ 1934 Pack-
ard Super Eight Convertible Victoria ($225,500); a 1934 Lincoln Model KB Convertible Sedan ($275,000), and a 1942 Lincoln Continental Cabriolet ($126,500). Hy Gray brought his beautifully restored 1956 Plymouth Belvedere Convertible from Illinois to the RM sale. Continued on page 6
Rush - Dated Material
Buy-Here, Pay-Here Chains Add More Locations The nation’s largest buy-here, pay-here chains continue to expand. DriveTime Automotive Group Inc. is expanding into a new market. The buy-here, pay-here chain has opened a store in Louisville, Ky. The new store is the company’s eighth dealership to open in 2013, and becomes the 105th DriveTime location. America’s Car-Mart, Inc. announced the opening of its 126th dealership. The dealership is located in Rome, Ga. Rome is the 2nd dealership in Georgia and the 2nd new dealership opening
for fiscal year 2014. The Rome dealership will be managed by Chris Griffin. Meanwhile, J.D. Byrider has opened five new franchise locations in the first half of the year. The next J.D. Byrider dealership, opening in Colonie, N.Y., will be the company’s 150th location. The buy-here, pay-here franchisor also marked a milestone when ts South Attleboro, Mass., sold Byrider’s one millionth vehicle. The car was given away to the lucky customer. J.D. Byrider has signed new store rights to four new franchisees and 10 existing franchisees.
The confidence to close more deals To learn more, turn to the back cover or visit myautovisor.com/confidence
UCN_01.indd 1
8/12/13 5:19 PM