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September 16, 2013

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ON THE WEB: Car Shoppers Want Dependable Vehicles

Both car and light-truck shoppers ranked quality/dependability as the No. 1 factor considered when making a new-vehicle purchasing decision, according to the latest survey from NADAguides.com. Fuel economy, cited as the most important preference of both car and light-truck buyers in last year’s survey, was selected as the second-most important factor by car shoppers in this year’s survey.

GM Financial Receives Ratings Upgrade

Ratings agency Fitch has removed GM Financial’s ratings from Rating Watch Positive and revised to Rating Outlook Positive.

Privates Buyers Buy up Franchise Stores

The number of automotive dealerships sold to private buyers climbed more than 2.5 times in the first half of 2013 compared to a year ago, according to the mid-year Automotive Retail Buy-Sell Report.

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NIADA Honors Auction for Service Dealers Auto Auction of the Rockies has been named Auto Auction of the Year by the National Independent Automobile Dealers Association. The award recognized the Denver-based auction’s owners, Brad Sturgeon and Bill Baker, general manager Michele Noblitt and the DAA of the Rockies staff. NIADA has presented the award annually to an outstanding NAAA auction since 2008. The award ceremony took place at the National Auto Auction Association convention in Indianapolis. The winning auction provides the highest level of customer service and resources for NIADA’s independent dealers, displays support for its state association and its dealer members and participates in dealer events and promotes the industry by showing exceptional service to its local community. In presenting the award, NIADA executive vice president Steve Jordan said DAA of the Rockies “has proven its business excellence over the years and is noted for outstanding customer service, consistently going above and beyond as

Photo by Jeffrey Bellant TOP AUCTION: NAAA Chairman Paul Lips, left, accepts the NIADA Auto Auction of the Year Award on behalf of DAA of the Rockies from NIADA Executive Vice President Steve Jordan.

the staff strives to put their clients first.” DAA of the Rockies made numerous contributions to its community through various fundraisers and campaigns, including an annual live charity auction that has raised more than $23,000 over the past three years. That contribution has fully funded a week-

long camp for abused and neglected children in the foster system, contributed to the local Big Brother/Big Sister organization and its mentoring program – a program in which its fleet-lease manager, Stacey Scarnati, has actively participated in for five years as a Big Sister – and raised funds for “Help Out Not Hand Outs,”

an organization that assists veterans. In addition, the auction held a pet drive to support local animal shelters and launched a “Quit Smoking” campaign to help promote a healthy lifestyle among its employees.And it helped send one of its employees to the 2013 Avon Walk for Breast Cancer.

Rush - Dated Material

Certified Sales Top 200,000, Set All-Time Highs August certified pre-owned sales rose above 200,000 for the first time, at 200,332. AutoData Corp. reports that total is up 9.6 percent from the prior month and up 25 percent from August 2012. August’s daily selling rate was 7,155, the third highest ever. There were 28 selling days in August vs. 25 in July and 27 in August 2012. The month benefited from the inclusion of the Labor Day weekend in August sales. August year-to-date sales were 1,429,713, up 16.4 percent from August 2012. Audi, Honda, Hyundai, Kia, Mazda, Mercedes-Benz,

Mini, Nissan, Porsche, Subaru and Toyota sales were alltime highs. Ford Motor Co. is on pace to set an all-time certified preowned vehicle sales record for the company. Ford revamped the CPO program in February 2012 with 12-month/12,000-mile comprehensive limited warranty and a seven-year/100,000-mile limited powertrain warranty. In 2013, the company improved both the Ford and Lincoln programs by having the CPO warranties begin at the end of new vehicle warranties. Also, the multiple-point inspection process covers new technology such as MyFord Touch and MyLincoln Touch.

Imagine controlling your used car inventory from anywhere. With the SmartAuction® mobile app, you can. ©2013 Ally Financial. All rights reserved. SmartAuction is a registered service mark of Ally Financial Inc.

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9/9/13 11:05 AM


September 16, 2013ÛÛÝÛۀ

USED CAR NEWS

Toyota Exec Defends Brand’s Higher Incentives By Jenny King

DETROIT – Increased incentives on 2013 Toyota Camrys may have surprised some market watchers. But the company’s vice president of automotive operations in North America, Bob Carter, says they are not as excessive as has been reported. “We’re right where the segment is,” Carter told members of the Automotive Press Association here in early September. Calling the $2,480-percar average from J. D. Power and Associates “higher” than is actually the case, Carter said estimated incentives on other brands were also high, bringing Toyota in line with the competition. “Yes, they (Toyota’s incentives) increased but they are still less than the competition,” Carter said. He suggested the average incentive on a 2013 Hyundai Sonata might be more like $3,000. The incentives on the Ford Fusion are very close to the amount pinned

on the Camry – which, he said, is the largest selling sedan in its market segment. Toyota expects to sell 400,000 Camrys by the end of 2013. Toyota, Carter said, predicts 15.5 million total sales of cars and light trucks in the U.S. this calendar year. Combined sales of Toyota, Scion and Lexus should reach 2.25 million by year’s end, Carter said. It stood at 1.53 million units at the end of August. Carter appeared skeptical of recent predictions of annual sales reaching 17 million by 2018. Carter said 2014 Corollas are arriving at dealerships this month (September). A new model, the Corolla Eco grade, is expected to get 42 miles per gallon average in highway driving. Designed for the North American market, the 2014 Corolla has interior volume comparable to the Camry of three generations ago. Toyota anticipates selling 200,000 RAV4 compact utility vehicles this year, including the re-designed

“We’re right where the segment is.” Bob Carter

2014 model. Smaller utility vehicles will be the big growth segment in the market, Carter said. The re-designed 2014 Highlander gas version goes on sale in December with a hybrid model available next February. The

35 Anniversary

’14 Highlander retains the exterior dimensions of the current model but features a three-person third-row seat and a center console large enough to hold a woman’s full-size purse. The Toyota executive said the gas-hybrid system will

remain company’s “core technology,” though there will be a hydrogen fuel cell Toyota in 2015 – “maybe even by late 2014” – in select markets. The automaker is looking at diesels for Europe but “probably not” for the U.S., he said.

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 ÛÛ�ÛÛÛSeptember 16, 2013

USED CAR NEWS

NEWS BRIEFS Auction Adds Fifth Lane

Sparkling City Auto Auction of San Antonio recently opened a fifth lane. Auction owner Wade Walker also reports that major construction is underway on a new mechanic garage, detail shop and body shop. This year’s construction project follows last year’s expansion of the storage and parking areas. The new shops will be completed later this fall. Walker said the auction has also adjusted its start time on sale day to make way for the increased volume, and will now begin every Tuesday at 10:30 a.m..

Manheim Expands Wholesale Insitute Curriculum

Manheim is set to begin another year of training by expanding The Wholesale Institute curriculum. In addition to its popular online wholesaling workshop, Manheim has folded the remarketing training program under the TWI umbrella, which includes training on all products and services developed by Manheim. In addition to products and services, the MRT offers custom-built training for larger dealer teams in addition to sessions in both English and Spanish. Following customer requests 11 four-hour training sessions have

been scheduled at Manheim locations in North America. Mike Roberts and Chris Hill of Manheim’s national client sales support team facilitate the training.

CarMax Expands in California

CarMax Inc. officially opened its first store in Fairfield, Calif. It is CarMax’s 17th store in California. The Fairfield store is more than 29,000 square feet, occupies more than 13 acres, employs nearly 50 associates and stocks approximately 300 used vehicles.

of-charge for two hours or can be as long as three days for a rental fee. If the customer decides to purchase the vehicle, the base rental fee will be refunded after the purchase is completed through AutoNation Direct.

ta Prius have led to a surge of interest to the hybrid vehicle. All Prius model years tracked appear in the top 10 list of model share growth. The 2011 Toyota Prius tops all models in increased interest.

Consumers Want Hybrids

Car-Mart Adds Stores

More consumers are shopping for used hybrids. Hybrid cars have increased in share of used-car retail traffic 15.9 percent month-over-month on Kelley Blue Book’s KBB.com. The key driver of this increased interest is the Toyota Prius. Declining used prices on the Toyo-

America’s Car-Mart Inc. recently added stores in Georgia and Mississippi. The Covington, Ga., location is the buy-here, pay-here chain’s 127th store and third in Georgia. The Meridian, Miss., location is the 128th store and fifth dealership in Mississippi.

AutoNation Expands Test Drive

Avis Budget Group Inc. announced that its Ultimate Test Drive car sales program is now available in Georgia and Illinois. In collaboration with AutoNation Inc., customers can shop online at www.avis.com or www.budget.com and schedule their “ultimate test drive.� The ultimate test drives are freeC R O S S WO R D by Myles Mellor

PAGE 25

THANK YOU, DEALERS !

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 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 ———

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BEST RUN CONSIGNMENT SALE STATE LINE AUTO AUCTION WAVERLY, NEW YORK Used Car News Annual “Best of the Auctions� Nationwide Survey

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. É&#x;  É&#x; É&#x;  Please submit clear, legible copy. Payments from first time advertisers must accompany the insertion order. Distribution is guaranteed by U.S. Postal Carriers. The advertising reservation deadline is 5:00 p.m. Friday, 10 days prior to the issue date. Camera ready ads must be received by noon on Monday prior to the issue date.

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September 16, 2013 ÝÛۂ

USED CAR NEWS

Pair Enter Hall of Fame Two auction executives who followed each other as National Auto Auction Association presidents entered the NAAA Hall of Fame together. Henry Stanley served as president in 1999-2000 before handing over the gavel to Kenny Osborn. Both received the NAAA’s highest honor at the group’s recent convention in Indianapolis. Stanley’s career began with a wisecrack to Henry his father. Stanley Since attending college wasn’t in the cards, he joked about going to auctioneer school. Not many weeks later, his father handed him an application along with $650 for tuition. So, in 1960, fresh out of auctioneer school, he landed a job as a ringman at Capital Auto Auction in Columbus, Ohio. He advanced to auctioneer and worked the auction circuit with stops in Columbus; Butler, Pa.; Detroit; and Toronto. In 1969, Stanley purchased Capital

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for $6,800, renaming it Ohio Auto Auction. Nine years later he moved the auction to Grove City, a suburb of Columbus. With plans to retire and spend winters in Florida, Stanley sold the auction to GE Credit in 1987. Henry’s final week, the auction sold 1,150 vehicles. That auction still operates today as Manheim Ohio. But after a few years, Henry missed the auto auction business. So he and his wife Patty purchased Fort Knox Auto Auction in Anderson, S.C. They opened in April 1990 as Carolina Auto Auction. Today they also own two other auctions: Indiana Auto Auction, in partnership with Henry Stanley III, Gordon Stanley and Eric Autenrieth; and Charleston Auto Auction, in partnership with Keith Lelux. “Henry is a self-made man who has done a variety of jobs in the industry but no matter what the job was, he just always wants to be the best at whatever he does,” said Tommy Rogers, the general manager of Carolina Auto Auction who has known Henry for 17 years. “Everything that he’s involved in – whether from the auction lanes to the golf course – he wants and expects excellence.”

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ƒÛÝÛSeptember 16, 2013

USED CAR NEWS

Hall of Fame Osborn, general manager of ADESA Dallas, has worked at a variety of roles in the used-car business. He has been a used-car manager at a dealership in his hometown of Amarillo, Texas; a partner in an independent auto auction; and a corporate executive for one of the chains. Like Stanley, he is a licensed auctioneer. “Ken is a man Kenny who has his soul Osborn devoted to the betterment of the entire industry and has become one of its cornerstones through his selfless contributions to NAAA,” said Tony Moorby, principal of the Chattanooga Auto Auction. “He epitomizes the best of our business and what everyone in it should strive to be – honest, reliable, straightforward and hard working.” Moorby said Osborn has always taken an “enthusiastic role” in the association, willing to “do the grunt work with few accolades” such as helping research, establish and monitor standards for the industry “to see that they’re not only met, but exceeded.”

– Continued from page 5

Osborn also enjoys mentoring others, identifying and developing people’s innate capabilities to perform at the fullest potential, Moorby said. Osborn earned a bachelor’s degree in business from Wayland Baptist University, but he credits Richard Dupriest with mentoring him in the business of auto auctions. The two became partners in 1980 and started Tri-State Auto Auction in Amarillo and Albuquerque Auto Auction in New Mexico. Eventually, they sold both operations to ADT Automotive. Osborn became a general manager for ADT’s auctions in Albuquerque, N.M., and Golden Gate, Calif. He then joined ADESA in 2000 as regional vice president of the western United States, managing all auction activities in Texas, California, Washington and Arizona. In 2007, he was promoted to executive vice president of ADESA’s western region and later returned to his native state taking the position of ADESA Dallas general manager. “Kenny is a hands-on auction guy who’s rarely in the office on sales days because he’s out there working the arena,” said ADESA Dallas auction manager Bill Roberts, who has known Osborn for two decades.

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PAGE 8 - THE BEST OF THE AUCTIONS

Dealers Pick Favorites in Annual Auction Poll Eleven auctions have been honored in 10 categories in the Used Car News annual Best of Auctions survey. The top honor of “Best Overall Auction” went to Harrisburg Auto Auction

based in Mechanicsburg, Pa. Harrisburg Auto Auction, which turned 31 this year, followed up its win last year in the “Best Facility” category. General Manager Lynn

TOP PICKS: From top, dealers spin to win at Charleston Auto Auction, enjoy some downhome cooking at Louisiana’s First Choice Auto Auction and compete against online bidders at Manheim St. Louis.

…ÛÛÝÛSeptember 16, 2013

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Weaver talked about the win during the recent National Auto Auction Association Convention and Expo in Indianapolis. “We want to thank the dealers for their support and our staff for all they do throughout the year,” Weaver said. “I think it’s a reflection of the staff. “It’s a huge honor and we’re proud to get it. It’s one of the premier awards in the industry.” Weaver also proved the adage that you can’t get someone’s vote unless you ask for it first. “Of course we promoted it,” Weaver said. “We made our dealers aware of it. “We put up posters around the building and we had stuff at registration and made it easy for them.” This year’s winner in the “Best Facility” category was Southern Auto Auction, a 20-lane sale founded in 1947, in East Windsor, Conn. Owner Larry Tribble said winning was an achievement that was years in the making. “I guess it’s a relentless pursuit of perfecting the facility to make dealers’ days more pleasant at the auction,” he said. “It’s not just the facility, but the whole experience.” Tribble and his staff work hard to make the dealer experience first rate through all kinds of conditions. “It’s an art and a science,” he said. “I constantly try to improve our physical plant.” The staff is an experienced and educated group, Tribble said. Their approach is to place themselves in customers’ shoes. To glean best practices that might help his sale, Tribble has traveled the globe. He has visited everything from Dutch flower bulb auctions to the fish auctions in Tokyo. The sale even spent hundreds of thousands of dollars to perfect the computer, sound and lighting systems to make the auction the best it can be. He thanked his customers for their recognition. In the category of “Best Auctioneers,” there was a tie between two sales – Moun-

tain State Auto Auction and Capital City Auction, both in West Virginia and both owned by Joe and Charlotte Pyle, pillars in the auction business. Joe Pyle was pleased the auctions tied for the category. “That’s crazy, isn’t it?” he said. “We’ve never won any of these before. I was very excited. It’s a pretty tough competition.” The award is a reflection of Joe Pyle since he’s been an auctioneer at both sales since the first one opened 26 years ago. He said it helps him to stay in the trenches and close to the customers, as well as be a better operator. Plus it helps him understand his auctioneers. The other key to the auctions’ success is that the auctioneers have been with the sale for a long time. “Our guys are very (friendly),” Pyle said. “We know people’s names and we shake their hands. It’s kind like it was 20 years ago. “We’re just hometown personable.” State Line Auto Auction in Waverly, N.Y., nabbed the prize for “Best Consignment Sale.” “What amazes me is that I did no solicitation on this,” said Jeff Barber, president of the family-owned auction. “God bless them for (voting for us), because they did that with no prompting from us.” Barber said the auction, which recently celebrated its 33rd anniversary, has a longtime stable management crew. “We (recently celebrated) 15 people of ours who are all 20-year employees,” he said. “When someone walks in the door, they know who they are dealing with. We’re familiar with the dealers. We know what we’re doing and we take care of our dealers.” Auction Broadcasting Co. took home awards in two categories. ABC Lancaster in East Petersburg, Pa., earned “Best Ringmen” honors, while ABC Orlando collected the most votes in the “Best Customer Service” category. ABC Lancaster, which opened in March 2012, is the youngest auction to take

home an award. Jason Brinkley, ABC Lancaster general manager, said the auction has eight lanes and currently operates six. He said the secret to the auction’s success is simple. “It’s consistency,” he said. “It’s doing to the right thing when nobody’s looking.” Everything from having the right photos and condition reports to providing good service online is critical to the sale’s overall success. Brinkley said the ringmen that the auction uses are similar to other auctions. “But we encourage them to put deals together,” Brinkley said. “I think that, overall, it’s just about having a warm person inside the lanes, hopefully putting deals together.” Alan Willard, general manager of ABC Orlando, said he was excited to learn about the “Best Customer Service” award. “We’re very proud of the whole staff,” he said. Willard said the team at ABC Orlando takes pride in taking care of the dealers. “If we don’t have dealers (here), we don’t have jobs,” he said. On the digital side, Manheim St. Louis tallied the most votes for “Best Online Sale.” Victor Ferlaino, general manager of Manheim St. Louis, was thrilled with the news. “My cheeks hurt from smiling,” he said. Manheim St. Louis, who celebrated its 50th anniversary in 2010, won in the online category for the second year in a row. “We put an awful lot of focus on digital processes for our online sales, including OVE and Simulcast, which is what we’re talking about,” he said. Ferlaino said they spend a lot of time helping sellers understand what buyers want – which is a good condition report and modest reconditioning. “Most people recognize that if they won’t buy a car without a condition report, neither will the guy who’s looking to buy (your car),” Ferlaino said. Continued on page 10

www.usedcarnews.com

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WINNERS: Clockwise from top left, a ringman at ABC Lancaster shows why he and his co-workers are the dealers’ favorites; Harrisburg staff works to make the auction the best overall; the friendly staff at ABC Orlando earn the sale top honors for customers service; ADESA Las Vegas shines in many areas, but especially its recon department; and the two West Virginia auctions owned by the Pyle family tie for having the best auctioneers.

www.usedcarnews.com

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NEXT ISSUE: HOW I DID IT: SUCCESS STORIES September 16, 2013 ÝÛۆ

9/9/13 6:30 PM


~‡ÛÝÛSeptember 16, 2013

USED CAR NEWS

The Best of The Auctions - continued from page 8 In the “Best Reconditioning Facility” category, another young auction – ADESA Las Vegas – takes the prize. Theo Jelks, general manager, has been with ADESA for 13 years and was a vendor for five years before that. ADESA Las Vegas recently celebrated its second anniversary. “Anytime you’re voted (as the best in something) by your customer base, it’s an honor,” Jelks said. “I attribute it to how hard the staff works here and their commitment to the finished product. These folks work very, very hard.” Jelks said since the recon facility is new, it’s state of the art. “We have very few limitations on how far we can take the reconditioning,” he said. Every service - from mechanical and interior reconditioning – to more detailed work like lens cleaning – is available to buyers and sellers. “We put anywhere from 100 to 175 cars through (recon) every day,” Jelks said. “When they spend a buck, they want $1.75 to $2 back.” Auctions often put a lot of work into their promotions, so the winner of the “Best Promotions/Events” is a highly competitive category. This year’s winner is the Charles-

ton Auto Auction, based in Moncks Corner, S.C. Bill McReady, assistant general manager, said the auction’s goal is to always have dealers wondering, “will I win something today at Charleston Auto Auction?” The auction offers everything from weekly Early Bird and $10,000 late bird drawings to monthly cash and prize promotional sales and even “mega sales.” The auction awards dealers more than $300,000 in cash and prizes annually. Other popular promotions include the Luau/Pig Pickin’ & Car Sale, Mega Mystery Sale, Crash for Cash Dealer Demolition Derby and Lucky 13 Sale. “When our dealers attend our auction we don’t want them feeling like it’s just another day at work,” McReady said. This year’s winner in the “Best Restaurant” category was Louisiana’ s 1st Choice Auto Auction. “We were pleasantly surprised at our win because we don’t have a fancy café like many auctions,” said marketing manager Georgianne Poteet. “It proves that as long as you provide a quality product in a friendly atmosphere you can make customers happy. “And free doesn’t hurt either.”

TOP PICKS: A car moves through the lanes at Southern Auto Auction, top, which dealers voted as best facility. Dealers shop at State Line Auto Auction, which they picked as their favoritie for consignment sales.

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~ÛÝÛSeptember 16, 2013

USED CAR NEWS

FTC Slaps Dealers for Ads Two car dealers from Maryland and Ohio have agreed to settle the Federal Trade Commission’s charges that they falsely advertised the cost or available discounts for their vehicles. The settlements, part of the FTC’s continuing crackdown on deceptive motor vehicle dealer practices, prohibit the dealers from advertising discounts or prices unless the ads clearly disclose any qualifications or restrictions. The FTC charged that Timonium Chrysler Inc., of Cockeysville, Md., violated the FTC act by advertising discounts and prices that were not available to a typical consumer. Ganley Ford West Inc. in Cleveland, also was charged with misrepresenting that vehicles were available at a specific dealer discount, when in fact the discounts only applied to specific, and more expensive, models of the advertised vehicles. Timonium Chrysler’s website touted specific “dealer discounts” and “internet prices,” but allegedly failed to disclose adequately that consumers would need to qualify for a series of smaller rebates not generally available to them. The complaint further alleges that, in many instances, even if a consumer qualified for all the rebates, the cost of the vehicle was still greater than

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the advertised price. Ganley Ford West advertised its discounted vehicles on its website and in local newspapers, and it allegedly failed to disclose that its advertised discounts generally only applied to more expensive versions of the vehicles advertised. The proposed orders settling the FTC’s charges against Timonium Chrysler and Ganley Ford West are designed to prevent them from engaging in similar deceptive advertising practices in the future. The two auto dealers cannot advertise prices or discounts unless accompanied by clear disclosures of any required qualifications or restrictions. The dealers must maintain and make available copies of all advertisements and promotional materials to the commission for inspection upon request for the next five years, and they are required to comply with the FTC’s order for 20 years. The commission vote to issue the administrative complaints and accept the consent agreement packages containing the proposed consent orders for public comment was 4-0. The agreement will be subject to public comment through Oct. 3, after which the Commission will decide whether to make the proposed consent order final.

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~ÛÝÛSeptember 16, 2013

USED CAR NEWS

Ford Recalls Cars Over Steering

Ford is recalling 355,000 model year 2005-2011 Ford Crown Victoria (including Crown Victoria Police Interceptors), Mercury Grand Marquis, and Lincoln Town Car vehicles. The affected vehicles are currently registered or were originally sold in Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, and Wisconsin. Severe corrosion can seize the lower intermediate shaft which may cause the upper intermediate

shaft to collapse and the steering column lower bearing to separate. If the lower bearing separates, the vehicle may experience a loss of steering, increasing the risk of a crash. Ford will notify owners and dealers will replace the lower intermediate shaft, free of charge. The upper intermediate shaft and steering column lower bearing will be inspected to identify any damage that may have occurred as a result of lower intermediate shaft corrosion, and repaired or replaced as necessary. If the steering column lower bearing has separated, a retainer clip will be installed. The recall is expected to begin Oct. 21. Ford’s recall number is 13S08.

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ADESA Golden Gate October 8, 22 209-839-8000

Manheim Baltimore Washington October 22 410-796-8899

ADESA Houston October 2, 16, 30 281-580-1800 ADESA Indianapolis October 1, 15, 29 800-925-1210 ADESA Kansas City October 1, 15, 29 816-525-1100 ADESA Lexington October 17 859-263-5163 ADESA New Jersey October 10, 24 908-725-2200 ADESA San Diego October 10 619-661-5565 ADESA Tulsa October 11 918-437-9044 America’s AA-Chicago October 2, 30 708-389-4488

Manheim Dallas October 9, 23 877-860-1651 Manheim Denver October 23 800-822-1177 Manheim Detroit October 3, 10, 17, 31 734-654-7100 Manheim Fredericksburg October 10, 24 540-368-3400 Manheim Milwaukee October 9, 23 262-835-4436 Manheim Minneapolis October 16 763-425-7653

Manheim Pennsylvania October 10, 11, 24, 25 800-777-2053 Manheim Phoenix October 3, 10, 17, 24, 31 623-907-7000

* Only Jaguar and Land Rover vehicles will be sold on these dates.

Mazda Capital Services ADESA Boston October 4, 18 508-626-7000

Manheim Detroit October 3, 17, 31 734-654-7100

ADESA Golden Gate October 22 209-839-8000

Manheim Fredericksburg Manheim Pennsylvania October 11, 25 October 10 800-777-2053 540-368-3400

ADESA Kansas City October 15 816-525-1100

Manheim Milwaukee October 9 262-835-4436

Manheim Pittsburgh October 23 724-452-5555

Manheim Seattle October 16 206-762-1600

Columbus Fair AA October 9 614-497-2000

Manheim Nashville October 2, 30 877-386-5004

Manheim Riverside October 22 909-689-6000

Southern AA October 16 860-292-7500

Manheim Atlanta October 10 404-762-9211

Manheim New Jersey October 9, 23 609-298-3400

Manheim Seattle October 16 206-762-1600

Manheim Pittsburgh October 23 724-452-5555 Manheim Riverside October 1, 3, 15, 17, 22, 29, 31 909-689-6000

Manheim Nashville October 2, 16, 30 877-386-5004 Manheim Nevada October 25 702-361-1000

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

Manheim Orlando October 15 800-337-8491

Subaru Motors Finance Manheim Pennsylvania October 25 800-777-2053

ADESA Boston October 18 508-626-7000

Manheim Detroit October 3, 17, 31 734-654-7100

Brasher’s Salt Lake October 15 801-322-1234

Manheim Fredericksburg Manheim Pittsburgh October 23 October 24 724-452-5555 540-368-3400

Columbus Fair AA October 2, 29 614-497-2000

Manheim Milwaukee October 23 262-835-4436

Manheim Dallas October 9 877-860-1651 Manheim Denver October 23 800-822-1177

Manheim New Jersey October 9 609-298-3400 Manheim Orlando October 22 800-337-8491

Manheim Riverside October 1, 29 909-689-6000 Manheim Seattle October 16 206-762-1600 Southern AA October 16 860-292-7500

*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

UCN_15.indd 1

9/9/13 4:12 PM


~ÂƒĂ›Ă?Ă›September 16, 2013

Carolina15K-UCNoct1.pdf

1

9/6/13

USED CAR NEWS

3:27 PM

Auto Finance Reaches Milestone

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Experian Automotive announced that a record 84.5 percent of consumers who acquired a new vehicle in the second quarter obtained either a loan or a lease to fund the purchase. According to Experian, new vehicle financing is at the highest level since tracking began in 2006. This metric is up from 82.5 percent. Findings from the report showed that of all new vehicles financed, leases accounted for an all-time high of 27.64 percent during the second quarter, up from 24.4 percent in the second quarter of 2012. Additionally, the

report highlighted the differences in financing attributes, such as average monthly payment, credit score and financing term. The average amount financed was $26,526 for a new vehicle and $17,913 for used. The average interest rate was 4.46 percent on a new vehicle loan and 8.56 percent for used. The average loan term was 65 months for a new vehicle and 61 months for used. The average monthly payment was $457 on a new vehicle and $351 for used.

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AUBURN, WA daaseattle.com

9/9/13 2:17 PM


September 16, 2013ÛÛ�ÛÛ~„

USED CAR NEWS

Edmunds Settles Review Suit Edmunds.com has reached a settlement agreement with Humankind Design Ltd., which stood accused of fraud and breach of the Edmunds.com membership agreement in a lawsuit filed last month in Texas. Edmunds.com filed the suit after it investigated Humankind’s registration of almost 2,200 fake member accounts on the site, which Humankind used to attempt to submit content to sway car shoppers’ opinions on Edmunds.com’s dealer ratings and reviews pages. As part of the settlement with Edmunds.com, Humankind agrees to submit to a permanent injunction agreeing not to register users on Edmunds.com, not to submit reviews, not to participate in Edmunds.com’s online commu-

nity, and not to breach the site’s membership agreement. The firm will also provide Edmunds.com with information concerning all member accounts they registered and all reviews they submitted to Edmunds.com. Humankind’s own marketing materials had previously identified 15 review sites on which it was prepared to post reviews similar to those Edmunds.com alleged were fraudulent. Humankind’s “supported site� list included Google Plus, Yelp, Foursquare, Yahoo and Citysearch. Edmunds.com is providing each of the listed sites with a copy of the permanent injunction that has been agreed to by Humankind so that they can determine for themselves whether action is needed to protect their own consumers.

Dealertrack Acquires CRM Provider Dealertrack announced an agreement to acquire substantially all the assets of Customer Focused Marketing Inc., a provider of customer relationship management and marketing services. CFM, established in 1997 and headquartered in Irving, Texas, provides consumer marketing and management services to automotive dealers across the United States.

CFM has a mobile platform in addition to a desktop version. Dealertrack executives believe that post integration (late 2014), this acquisition will position the company’s subscription software business to accelerate its revenue growth into 2015. As a standalone solution, the business is expected to grow approximately 35 percent annually for the foreseeable future.

“ We Don’t Just Build Solutions, We Build Relationships.� — Paul Rosenthal, Vice President of Sales – Automotive Solutions Group

Solutions Built on Relationships. At Spireon, our customers come first. Which might explain why Paul Rosenthal, Vice President of Sales for Spireon’s Automotive Solutions Group, took a personal interest in helping Jim and Renee at Preferred Funding. “GoldStar GPS has been helping us win for over 5 years. In my business, people make the difference and Paul and the GoldStar team are always there when I need them.� – Jim Willis, President of Preferred Funding. With over 25 years industry experience, Paul has continued to build long-standing relationships with automotive dealers and lenders nationwide by setting the Gold Standard in service and quality. More automotive lenders and dealers have chosen GoldStar GPS over any other tracking system. We keep working hard to earn your trust and your business, with innovative technology that meets your evolving needs and through giving you the support and service you deserve.

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UCN_17.indd 1

9/9/13 1:28 PM


~…Û�ÛSeptember 16, 2013

USED CAR NEWS

Auction Edge Upgrades System Auction Edge is announcing new valuable capabilities to its EDGE ASI system. EDGE Mobile Check-In and a new Green-Screen Report Generator are now both available for customers. Following a successful beta program, EDGE Mobile Check-In is available on both the iOS and Android platforms. EDGE Mobile Check-In allows existing ASI customers to utilize their mobile Apple or Android devices within the auction’s wi-fi network to remotely check in cars and capture photos using their device’s built-in camera.

Users can enter vehicle information manually or scan the VIN for entry. EDGE Mobile Check-In is fully integrated with EDGE ASI - so vehicles checked in will automatically be imported into the auction’s EDGE ASI system. Additionally, after conducting a formal review with customers on opportunities to improve the EDGE ASI system, the ASI team in Statesville has developed a GreenScreen Report Generator that enables any EDGE ASI user to retrieve information they need from the EDGE ASI system.

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INTRODUCTION The Remarketing Division of Insurance Auto Auctions Inc. (IAA) focuses on vehicles that have high mileage or light damage, have been repossessed, are in arbitration or are otherwise not sold in whole-car auctions. Providers of vehicles for the Remarketing Division mainly include fleet companies, rental-car companies, financial institutions, and retail and wholesale dealers. Vehicles sold through the Remarketing Division tend to be in drivable or near-drivable condition, and generally fall BNPOHUIF)JHI(SBEFTFHNFOU UPQPGTBMFQSJDF PG*""TBVDUJPOT The providers of vehicles in the Remarketing Division can be classified into three distinct categories:

t The dealer category is composed of retail and wholesale automobile dealers who use the Remarketing Division to dispose of inventory that is not sold through normal retail channels.

t The financial category is composed of financial companies that own fleets, or take ownership of offlease or repossessed financed vehicles. Included in the dealer and financial categories are returned leased vehicles that have damage the lessor did not want to repair for resale on the retail market.

t The rental category is composed of rental-car companies that dispose of their inventory through the Remarketing Division. Most rental-car companies typically do not retain inventory that is older than one or two years. Also, when a rental car becomes even slightly damaged, rental companies cannot simply repair the car and rent it back to customers; they must dispose of it. This report tracks performance over time for each of these categories using three monthly indicators. 5IFCBTFNPOUIGPSFBDIPGUIFTFJOEJDFTJT+BOVBSZ JOEFYWBMVFPG 

t *OEFYPGBWFSBHFsale price of vehicles sold through IAA.

REMARKETING KEY DRIVERS Year-Over-Year Performance at a Glance

t *OEFYPGBWFSBHFage of vehicles sold through IAA. t *OEFYPGBWFSBHFmileage of vehicles sold through IAA.

Charge-Off Rate

Used Car 1SJDF*OEFY

Š 2013 Insurance Auto Auctions, Inc. All rights reserved. This document is meant for informational purposes only.

1

Our analysis. Insight for your industry. Download our Remarketing Quarterly Reports at IAA-Auctions.com

IAA-Auctions.com Š 2013 Insurance Auto Auctions, Inc. All rights reserved. IAA is a registered trademark of Insurance Auto Auctions, Inc.

UCN_18.indd 1

9/9/13 4:09 PM


September 16, 2013ÛÛÝÛÛ~†

USED CAR NEWS

Owners Admit to Aiding Drug Dealers The owners of a buy-here, pay-here operation in Louisiana recently pleaded guilty to laundering money for drug dealers. William Paul Boyter, Michael Paul Boyter and Anthony Reuben Riley, all of Shreveport, pleaded guilty to charges of conspiracy, money laundering, tax evasion, failure to comply with federal banking regulations, and wire fraud. Also charged as defendants in the case are two businesses operated by the three defendants: Mike’s Auto Sales Inc. and A-1 Auto Finance Co. According to evidence presented in the 19-count superseding indictment filed in September 2012, the defendants engaged in a conspiracy to commit money laundering beginning in 1996 through November 2010. The defendants’ scheme revolved around the sale and financing of used and new vehicles to individuals who derived, or represented that they derived, significant income from the distribution of illegal drugs. The defendants knowingly accepted cash proceeds from drug dealers, allowed vehicle purchases in the names of nominees, and falsified records of payments received. The defendants provided false information to law enforcement agencies to facilitate the release of

vehicles seized from drug dealers. In 2009 and 2010, the FBI conducted multiple “sting” operations directing cooperating individuals to purchase vehicles in the names of nominees and using large cash payments toward the purchase of those vehicles. These operations proved that the defendants readily accepted large amounts of money thought to be drug proceeds and skimmed cash from down payments by manipulating records to show lower sales prices and reduced amounts of down payments. The indictment also charges several violations of The Bank Secrecy Act, which requires that businesses take a number of precautions against financial crimes. One such precaution is filing and reporting certain data indicative of money laundering, including cash transactions over $10,000. The indictment charges five counts of failure to file a Form 8300 and three counts of filing a false Form 8300. Additionally, the indictment charges that Michael Boyter evaded taxes for the years of 2007 through 2010 by filing false information on his tax documents. Michael Boyter intentionally understated his income on his personal tax returns, while paying for personal items and services.

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9/9/13 11:33 AM


‡ÛÝÛSeptember 16, 2013

USED CAR NEWS

Dealer, Accountant Face Charges CONGRATULATIONS WINNERS! Chase Cup for Auction Excellence 2012-2013 Chase proudly salutes these auctions whose exceptional results have earned them recognition as “best of the best.”

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A former Chicago area motorcycle and recreational vehicle dealer and his accountant, together with eight other defendants who allegedly acted as straw buyers in sham vehicle sales, were indicted on federal charges alleging a nearly $74 million fraudulent financing scheme that resulted in approximately 20 lenders losing more than $56 million. All 10 defendants were charged with at least one count of bank fraud, and eight of them were also charged with federal tax offenses, in a 36-count indictment that was returned by a federal grand jury. The alleged bank fraud scheme involved two prongs: in one, the dealership fraudulently obtained more than $31.3 million in direct financing through five lines of credit from Fifth Third Bank, which lost more than $27.1 million; and, in the second, individual straw borrowers obtained some 200 fraudulent loans totaling nearly $42.4 million, which resulted in some 18 financial institutions losing more than $29.5 million. At least 62 of these individual loans were made to the eight defendants who allegedly acted as straw buyers. The charges allege that all 10 defendants fraudulently obtained money for their personal use and

benefit, enabling them to maintain lavish lifestyles, operate various businesses, and/or make investments. The money they obtained created the false appearance of personal wealth and helped induce the lenders to advance funds more readily due to their misplaced confidence that the defendants had sufficient personal wealth to repay the loans. The tax offenses against eight of the defendants include one or more counts each of tax evasion, failing to file an income tax return, or filing a false federal tax return. Lead defendant Russell S. Ott was the owner of Emily, Inc., which did business as Pro Source Motorsports, which was last located in Morris, Ill. Between 1995 and October 2008, Pro Source sold new and used motorcycles, luxury motor homes, recreational vehicles, all terrain vehicles, boats and jet skis. In 2007 and 2008, Ott also had ownership interests in Liberty Cycle in Libertyville, and Huntley Chevrolet in Libertyville. Ott was charged with one count each of bank fraud and tax evasion. Defendant Brian Mcmahon, Ott’s certified public accountant, was charged with one count of bank fraud and two counts of filing false tax returns.

8/16/13 1:29 PM

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9/9/13 3:27 PM


September 16, 2013ÛÛÝÛÛ~

USED CAR NEWS

PEOPLE IN THE NEWS Byrider Promotes Franchising Exec

NADA MarketValues

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Carpenter will report to Mike Black, Dent Wizard’s chief operating officer, and will continue to work from his office in Nashville, Tenn. Carpenter started with Dent Wizard as a paintless dent removal technician in 1996, and continues to retain his Five-Star status - Dent Wizard’s highest certified level of proficiency for technicians. Starting in 2000 Carpenter served as Dent Wizard’s auction services manager at Manheim Nashville and Manheim Tennessee. In 2008 he was promoted to regional auction manager, and later to regional operations director in Dent Wizard’s Southeast region.

J.D. Byrider promoted Jack Humbert to vice president of franchise sales. In his three years at J.D. Byrider, Humbert has assisted development efforts as a senior franchise consultant and director of franchise development. Humbert’s new role will enable him to lead and cultivate new growth for the company by identifying business leaders and entrepreneurs nationwide who are interested in owning a J.D. Byrider franchise. In the last year, Humbert has helped exceed expectations for recruitment by successfully attracting new franchisees from automotive, financial and business backgrounds. He has driven expansion of J.D. Byrider’s territory with double-digit store growth and in new regional markets for the company. His focus will be to continue this trend through the end of 2013.

Black Book announced that its entire team of vehicle value editors and data analysts has become Certified Auto Remarketers under the International Automotive Remarketers Alliance. There have been only 64 professionals in the industry to pass the 20-course module, and this is the first time an entire guide book’s editorial staff has become certified. Senior vice president and editorial director Ricky Beggs was the third person ever to become certified by the IARA in 2009 and recertified in 2013 as part of the program.

Dent Wizard International recently promoted Steve Carpenter to the newly created position of director of operations. Carpenter previously served as regional operations director in Dent Wizard’s Southeast region.

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ÛÝÛSeptember 16, 2013

USED CAR NEWS

RETAIL MARKETS FLORIDA

Dino Mercurio, owner, Independent Credit Inc., West Palm Beach, Fla.: “It’s been steady, but we’re down for the year. We haven’t had the typical spikes. “We normally get a big jump in February, March, April with tax season. We didn’t see that spike. It’s been steady across the board this year. “There’s no one reason for that. There were several factors involved. “The government staggered and delayed tax refunds this year. A lot of our customers rob Peter to pay Paul. “When their tax refunds finally did come, they owed money to a lot of different places. They didn’t have that lump sum available to go out and make a large purchase. “They were catching up on past due bills and paying back money they had borrowed. “Down payments are down this year. People have less money to put down these days.

“Our collections have been decent. It’s just a little tougher on the retail end. “We’re looking at deals and customers slightly different. We’re extending the length of contracts and taking less down just to stay in the market. “There’s so much subprime lending going on right now. They’re pretty loose and they’re buying pretty deep. It makes for a difficult market. “We haven’t had an issue getting cars. Our inventory is as good or better than it’s ever been. “Part of that is because we’re a little slower in turning cars. “Wholesale prices are high. It never ceases to amaze me how many dealers who complain that business is bad and wholesale prices are still through the roof. “We have so many out-ofstate buyers and that skews the market. “We run an infomercial that we’ve been doing for 17 years now. That’s a really good medium for us. “We also run some print

Compiled by Ted Craig ads in the local free car shoppers. “Our customers’ needs haven’t changed, even if their down payments have. We still sell a lot of SUVs and luxury cars. “We have a pretty good inventory mix. “I recently sold a 2003 Volvo for $5,990.”

IDAHO

Sandy Beach, owner, Champion Motors, Nampa, Idaho: “I sell a few cars, but I basically sell cargo vans and passenger vans. “The market for those is pretty good. I sell to painters, electricians, those kind of customers. “Right now, the housing market seems to be working and I’m getting a lot of repeat customers “I keep 40 to 50 vans in stock at all times. “Sometimes they’ll ask for a V6 van, but a lot of guys can’t do that because they pull trailers. Right now, they’re feeling pretty good about things and they want the best van they can get that will last so they can do

their jobs. “Whether they spend $2,000 or $20,000, they’re overriding attitude is ‘We went to get our racks, get our name on the side and go make a living. We don’t want to worry about anything.’ “I don’t do any repairs, but I keep a lot of racks. “A lot of the vans I buy don’t have anything inside, so I can customize them. “Some of the new-car stores will call me if they take in a van. “And I’m pretty notorious with the auctions in the area. “The dealers in the area know that if there’s a cargo van coming through the lanes they’ll either need to pay up or it’s going home with me. “I usually have my customers bring cash. I don’t do a lot of checks. “Back in 2009, I wasn’t selling this nice of a van. I was selling cheaper vans. “Whatever bait you throw out is the fish you attract. If you put $3,000 vans out there, you attract $3,000 buyers.

“If you put $15,000 vans out there, pretty soon you start attracting $15,000 buyers. “Customers come to me because they know I have one- to three-year-old vans that are still under factory warranty. “A lot of times a customer will show up and say the Chevrolet store told him to go down the street because that guy has a couple of acres of vans. “About 25,000 people drive past my store every door. “I mainly use Craigslist. I should probably have my own website, but if it ain’t broke, don’t fix it. When Craigslist list stops working, I’ll do something else. “I sell to people from Washington, Oregon, Utah, Montana, and I’ve even had guys come up from Nevada and Northern California to buy vans. “I’m pretty meticulous about describing the vans on Craigslist so they aren’t surprised. “I’m a one-man band here. I have to buy the vans and recon them and wash them.”

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9/9/13 5:30 PM


September 16, 2013ÛÛÝÛÛ€

USED CAR NEWS

WHOLESALE MARKETS ARIZONA

Stephanie Gingras, general manager, Dealers Auto Auction of the Southwest, Phoenix: “We have six lanes. We’re running five now. But we’re getting ready for Sept. 25 when we’re going to open up our ‘Mexico Ready’ lane. So then we’ll be running all six lanes. “Our volumes have been very strong. We’ve been consigning anywhere from 500 to 700 cars and converting 70 percent still. “That’s actually better than this time last year. Supplies are starting to go up. There, for a while, supplies were so low. “Dealer consignment makes up about 70 percent of our volume. The rest is made up of repossessions, cash-title loan repos and some off-lease commercial fleet. “In-lane, we’re getting about 380 dealers bidding at sales. With online bidding, you can add another 50 dealers. The online bidding has gone up. “Here at my sale, the online bidding keeps people

UCN_23.indd 1

honest who are in the lanes. But when it comes to winning bids, (online bidders) make up about 6 percent of buyers. “We get a lot of local dealers in the lanes. We also get dealers from surrounding states, especially from Wyoming, Colorado and Texas. Buyers who work in the oil fields are looking for any truck that will go. People will still buy two-wheeldrive trucks because those are usually local trucks. “Plus we also have our Hispanic buyers. That’s why we’re opening our ‘Mexico Ready’ lane, so we can cater to those buyers looking to bring cars into Mexico. “We’ll make sure that the titles are ready and that the (model) years are correct (for cars to go into Mexico). I have a gentleman that is a liaison for those Hispanic purchasers to help them get insurance, their bond and provide transportation for those vehicles across the border. “I’m going to start with 50 units, but I would like to see that grow into 75 or 100 units.

Compiled by Jeffrey Bellant “It’s a moving target as to what model year Mexican buyers can bring into the frontera – that being the inner part of Mexico, past the 15-mile border zone. “We also have our towand-damaged sale. I convert a lot of my tow-and-damaged, up in the 80 percentile. “The mood of the dealers is robust. I believe that everyone is excited about the product that they have. “We’re looking to have a record year again and I think it will be even better next year.”

NORTH CAROLINA

Jerry Barker, general manager, Greensboro Auto Auction, Greensboro, N.C.: “The auction has been in business for 28 years. “I’ve been with the auction for 20 years. “We have 16 lanes and we’ve been running 16 lanes. “Our volumes have been up over the past year. We’re running all of our factory sales during our open sale day now. “So that’s added some in-

creased volume during our regular sale day. “During our factory sales, we’re running between 200 and 500 cars. Some weeks, we’ll have Ford and General Motors running on the same day. “Dealer consignment is up about 12 percent this year. We run about 800 dealer cars per week. “So, on a big week, we’ll run about 800 dealer cars and about 2,200 to 2,300 fleet cars (which includes factory cars). “On a small week, we’ll run about 700 dealer cars and about 1,600 to 1,700 fleet (vehicles). “We’ve been fortunate. We have a lot of accounts that have helped us keep cars in the lanes on a steady basis. “But we’ve got some more off-lease cars than we had this time last year. Dealer cars were a little bit of a bigger percentage last year than this year. “We’re drawing about 1,000 dealers each week to the lanes. They’re coming from everywhere. “It depends on which

manufacturer is running that week and what product we have that week. Sometimes we have models that other auctions don’t have. So they’re not just coming from the Southeast. “Overall, we’re selling about a 60 to 65 percent (conversion rate). “We recently had our first highline sale. That went really well. We’re looking at holding that sale monthly. “We’re going to hold this as a true highline sale. We’re not letting anything in with more than 100,000 miles. We’re running more of a luxury car – like BMWs, Mercedes, Lexuses, Infinitis, etc. “We had a lot of dealers asking us to put something like this together. The reason is our geographic area does not have anything like this. “We ran 100 units for the first sale. I think right around a 100-unit sale is a good number for this. “The average price in the highline sale was about $25,000. The average price for our regular sale is about $14,000.”

9/9/13 3:47 PM


ÛÛÝÛÛSeptember 16, 2013

USED CAR NEWS

HPV UCN AD 2013 new orleans 3.ai 1 8/8/2013 2:35:09 PM

ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES SEPTEMBER 2013

SOURCE: BLACK BOOK

2012 MODELS Domestic Cars Buick LaCrosse 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 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 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

Sep-12 24100 14200 14300 20900 15950 13150 19400 20500 Sep-12 27200 33900 69000 16050 16250 32800 43000 13200 14400 15600 13250 17000 13800 17750 Sep-12 38550 52350 34150 20400 19600 22100 30500 16050 22875 19475 29675 22450 23225 19700 22850 32625

Mar-13 22700 12800 12750 18750 13400 12700 17200 18600 Mar-13 25600 31100 63900 15500 15350 29900 37200 11700 12600 13900 12100 15950 13500 15900 Mar-13 34350 49900 30000 20750 18150 20975 30050 15875 22000 18100 28350 21050 22075 18600 19600 29950

Sep-13 21450 12100 12100 17650 12100 12250 15900 17400 Sep-13 24600 28200 57500 15300 13550 29000 36300 11800 12300 13600 11500 15050 12500 14850 Sep-13 33200 46700 29000 20750 16300 19800 29950 15050 21300 16300 27100 20350 19550 17900 19900 28350

Projected Figures Sep-14 Sep-15 18675 15975 10400 9025 10575 9250 14600 12550 10200 8750 10050 8650 13825 12450 14525 12450 Sep-14 Sep-15 21025 18075 23575 19600 47325 40125 12900 11425 11275 9500 24275 21300 31875 27100 9825 8400 10850 9550 12000 10575 9475 8300 12625 11200 10675 9350 13425 11550 Sep-14 Sep-15 27775 23750 39725 33825 25425 22300 17875 15725 13875 11950 16800 15025 25500 22275 11725 9600 17550 15250 14050 11975 22175 18575 16850 14750 15775 13575 15150 13475 16975 14875 24675 21525

Sep-13 15600 21850 10850 10350 16500 10550 14100 10450 15500 21450 Sep-13 22000 22450 46300 13800 12200 25400 32100 10000 11000 12300 10250 13150 11200 14000 Sep-13 30050 43300 25850 19250 14100 18625 25900 13000 20700 14150 26100 18725 18850 15650

Projected Figures Sep-14 Sep-15 13500 11600 16525 13850 9075 7775 8900 7725 12900 10900 8675 7400 12550 11250 8450 7100 12625 10675 16700 13850 Sep-14 Sep-15 18200 15575 18600 15625 38900 32875 11400 10000 9625 7925 21125 18550 26725 21750 8225 6900 9450 8250 10525 9200 8225 7100 11125 9875 9400 8200 11375 9625 Sep-14 Sep-15 24100 19875 35025 29300 21625 18500 15975 13750 11750 10000 15675 13900 21900 18875 10375 7875 16025 13600 12000 9950 19950 16525 15000 12975 14250 12200 13775 12150

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 4D Sedan Chrysler 200 Touring 4D Sedan Ford Mustang 2D Coupe Ford Focus SE 4D Sedan Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Import Cars Acura TL 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 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra 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 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

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Sep-12 19100 27800 13000 13100 19050 13850 16850 11900 18700 23400 Sep-12 24400 26600 61000 14550 14450 28800 37800 11900 12600 13900 12100 14300 12400 16250 Sep-12 32200 48000 31700 18925 17700 19575 28325 15750 22100 17075 28050 20225 21550 17200

Mar-13 17100 24500 11400 11300 16900 11450 15000 10700 16700 21700 Mar-13 23000 23500 53400 14000 13850 26100 33000 10400 11550 12850 10800 14000 11850 14800 Mar-13 31000 45000 27550 18925 16150 19450 27100 14550 21125 16450 27200 19075 20200 17550

9/9/13 4:07 PM


September 16, 2013ÛÛ�ÛÛ‚

USED CAR NEWS

Disconnected Jottings From Tony Moorby... My early visits to Indianapolis, about the year 2000, left me with no endearing impression; I-465 from the airport to ADESA’s home office on the north side of town, in the middle of winter, was akin to visiting the

in Northern Indiana, close enough to Chicago to be considered part of its suburban, bedroom community. We love Chicago and they love Nashville but on many occasions in the past few years we’ve met halfway, for

Tony Moorby

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gulag. Chill, gray, windy days were echoed in the landscape – bare trees and low office buildings hugging the ground to stay out of the elements. Any water to be found, either natural or more likely man-made, longsince frozen to accentuate the tundra-like feel of early evening darkness. Even the hotels had hard-edged designs – fortresses as bastions against the cold. Who knew? My wife, Terry and I share best friends; Buzz and Jenny Cotton – they’re who knew. They live

high days and holidays or other celebrations, in Indy. Being a car nut, I’ve seen the Indy 500 a couple of times with Bobby Unser as host, guide and ultimate insider but trips from the airport to the Brickyard are no more illuminating as to the attractiveness of the city itself. On the other hand, relaxed weekends with friends to discover the guts of Indianapolis have been rewards in themselves. This is no place for me to extol all its virtues, lest you think I’m on the take from

their Chamber of Commerce but its attractions are myriad and cultural rather than brought in from a Disneyesque corporation. Indianapolis has few highrise buildings. Those it does have can be seen for miles away in the flat, cornfield countryside – a beckoning signal to old-fashioned, Midwestern prosperity. The State and Federal buildings in the center of town sit authoritatively and comfortably with warm sandstone, classical architecture of Palladian proportions. Roofs are capped with a green copper patina overlooking plazas of fountains and sculptures that would do justice to Paris or Rome. The Eiteljorg Museum is an American gem in the real sense. It boasts the best Western and Native American art and artifacts in the world. It’s as fabulous as it is quiet; the modern low-slung building belies the stunning treasures inside. A slow ride on Meridian Street heading straight north will set your jaw on your lap as you pass the old “blue-blood� money mansions and end up in Broad

C R O S S WO R D

Ripple, a quaint village-like town, easier to walk in than ride, where a day spent happily among antique shops, art galleries and cool cafes and restaurants will send you back downtown replete and relaxed, ready for the prolific nightlife, as warm and friendly as the shrimp cocktail sauce at St. Elmo’s, itself an icon of Indy’s hospitality. While one wouldn’t describe the city as cosmopolitan, it sates any appetite for food, drink and culture and it’s a particularly arty city. A trip to Fountain Square confirms a broad-minded approach to art and theater while the Canal can provide romantic interludes on gondolas effortlessly guided by gondoliers clad in traditional garb, down to the striped shirts. Anywhere else it would be corny (pardon the pun) but here it re-

flects an outreach to global ethnicity. Indeed, Indianapolis was part of the Underground Railroad route and the Indiana Avenue District, anchored by the Madame Walker Theatre, provides a bustling Afro-American centered community of jazz clubs and restaurants, arts and theater. The National Auto Auction Association recently held its annual convention here. Visiting some of the smaller cities is a benefit to a smaller association where otherwise, like the NADA, limitations on which cities can house a sudden influx of tens of thousands of convention goers dictates the destination. Not that there’s anything wrong with New Orleans, San Francisco or Orlando but to stay inside the ring roads of the interstates will prove that travel broadens the mind.

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

Sponsored by INSURANCE AUTO AUCTIONS

By Miles Mellor

1

2

3

4

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Down

Across 1. Mazda model 5. Luxury sports car brand 9. Frank and honest 10. Hyundai sedan 11. Coffee container 12. Ford ___ Sport 13. Word of possibility 15. It makes roads difficult to drive on 17. Many miles off 19. __ odds with 20. Kia SUV 24. Auto

25. Nurse, abbr. 26. Afternoon time 27. Good deal 28. A headlight creates one 30. Celebrity 31. Full size van made by Toyota, mainly sold in Asia 32. Necessities 34. Careless 35. 1946 Bentley Mark ___ 36. “Wheel of Fortune� request 38. Jaguar model 41. Rebranded names 43. Happening! 45. What keeps a car ride smooth 46. On ___ service from GM

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Ford 4-door sedan ____ JX Familiar with (2 words) Additional _____ Sprinter cargo van 6. Emotional driver’s problem (2 words) 7. Accord competitior 8. Nation where 5 across is made 14. Sports facility 16. Ford ____ SE 18. Santa ___ SUV 21. Golfing standard 22. Arranges things better 23. Changes to a higher gear 25. Stop signal (2 words) 27. Cheap pen 29. Luxury SUV letters 30. Change 33. 9-3 makers

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Answers to the 9/2/13 puzzle

37. Bismarck state 39. Explode 40. Compass direction, abbr. 42. Polite way to greet a customer 44. St. Louis state

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Answers to this puzzle in the 10/7/13 issue. Call 1.800.794.0760 for a FREE subscription.

UCN_25.indd 1

9/9/13 1:30 PM


ƒÛÝÛÛSeptember 16, 2013

USED CAR NEWS

CLASSIFIEDS

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 SCAN CODE WITH SMARTPHONE

CLASSIFIEDS

VEHICLES FOR SALE

Why Buy Inventory from Hertz Dealer Direct?

CLASSIFIEDS

2013/14 UPCOMING ISSUES October 7 - How I Did it: Success Stories

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October 21 - Factory Focus Deadline Wed., October 9

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November 18 - Giving Back

Call 877.201.7352

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CLASSIFIEDS

FACILITIES FOR SALE/LEASE Salvage Yard - Used Car Dealer for Sale or Lease. 2 acre yard on main highway located 10 miles from Metro Baltimore. Under current ownership since 1977, in business since 1946. Owners looking for exit strategy. 275 feet of main highway frontage with local access to MD695, US95 north, US95 south, MD Rt 3 - US 301. Mid 2000’s inventory. All Auto Recycling licenses plus Maryland Used Car Dealers license. Property zoning allows for most auto business applications including Gas & Go. Financing or lease options available. 443-829-1912 Sam FORMER DRIVE THRU BANK on app.1/2 acre asphalt lot currently leased as used car dealership. Tenant will stay or move what ever works for the buyer. Get away from the cold and have your business in sunny FL. Located in Manatee county city of Palmetto near Port of Manatee. Price $325,000 U.S. negotiable. For more info, contact James Mount, 941-266-6617. Pic on request.

CLASSIFIEDS

CAR LOT FOR LEASE. $6,500. Can be divided. 820 S. Dixie Hwy., Pompano Beach, Florida 33064. Tel:954-687-4673 USED TRUCK AND AUTO BUSINESS AND REAL ESTATE. 3 acres of fenced and lighted mini-storage on sight (great cash flow). Fully equipped mechanical shop with Pa. State inspection. Full recon shop. Great sales history, F&I Dept. with 3 banks. Over 30 years in business. Western Pa. Location. Reply Box #1170, c/o Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080 USED CAR LOT - 5 acres of land. 50x80 garage. 20 miles north of Bangor, Maine. Also house bordering lot - 3 bed- rooms, 2 baths. Lot and house $275,000 - may separate. Sell- ing due to illness. Call Bob, 207-852-1500

UCN_26.indd 1

Deadline Wed., November 6

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BUYERS AUCTION BUYER. Flat fee purchasing. All cars checked for accident/damage. 17 years, Florida based but will travel. Licensed and bonded dealer. Global Auto Group Inc., 561-262-3008, STEKRA@AOL.COM WHOLESALE BUYER -REP 30 yrs exp. Fl based. Will travel, references avail. Call Michael P. 954-445-6589 WHOLESALE BUYER - REP 30 + yrs exp. Midwest based Call Glenn, 708-738-9255

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TO REPLY TO A CONFIDENTIAL BOX # THAT IS USED IN AN AD: Email: marie@usedcarnews.com (Box# in subject line)

U.S. Mail:

Attn: box (number listed in ad), c/o Used Car News, 24114 Harper, St. Clair Shores, MI 48080

Deadline Wed., December 4

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9/9/13 2:30 PM


TD Auto Finance

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0002350_M3523_4A_US_R1.indd 1

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1

M3523-4A-US R1.indd

Round

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Job Description:

Mechanical Specifications:

Contact:

9/6/13 8:47 AM


FLIP YOUR DINNER AND YOUR USED INVENTORY, ALL AT THE SAME TIME.

With the SmartAuction® mobile app, you can run your life and your used vehicle inventory together. Conduct basic or advanced searches. Access saved searches from your profile. Place bids. View and respond to pending offers. Update price and auction status. And much more. All from virtually anywhere. Download the app for your iPhone® or Android™ mobile device at allysmartauction.com/mobile. Or call 877-273-5572 to learn more.

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