1-800-554-1026 September 7, 2015
ON THE WEB: Used Car Prices Rise Due to CPO Demand
The average used car sold in the U.S. is getting younger and pricier, according to the latest Used Vehicle Market Report from Edmunds.com. According to the report, the trends suggest a shifting tide in used car inventories, which are skewing more toward newer off-lease vehicles and certified pre-owned programs.
Credit Unions See More Growth in Auto
Auto loans rank at the top of the list for credit union executives in terms of loan growth, focus and opportunity over the next 12 months, according to TransUnion.
Increasing Supply Drives Depreciation
Overall vehicle depreciation is expected to reach between 14-14.5 percent by the end of 2015, and the main factor driving depreciation rates will be rising used vehicle supply, varying by vehicle segments, according to Black Book and Fitch Ratings.
Rush - Dated Material
IARA Salutes One of Its Founders By Jeffrey Bellant
FORT WORTH, Texas – The International Automotive Remarketers Alliance honored veteran remarketer and group founder Dave Langley with a special achievement award during an annual roundtable meeting here last month. “Dave Langley has had a truly distinguished remarketing career and has contributed greatly to this industry,” said Kia Motors’ Dave Alfonso, who presented the award to Langley during the event’s luncheon. Langley started his career as an office manager at a Volkswagen dealership, leading to a successful 18year career at Volkswagen of America corporate, eventually becoming national fleet accounts manager in 1988. “From that position, Dave established Volkswagen’s first repurchase program,” Alfonso said. Langley was later recruited by American Honda Finance Corp. for their national finance manager post to take control of their offlease vehicles. Continued on page 6
Photo by Jeffrey Bellant HONOR: Dave Langley, left, accepts the IARA’s special achievement award from Dave Alfonso.
America’s Car-Mart Moves Ahead Despite Recent Struggles America’s Car-Mart reported disappointing results in its latest quarter. The Arkansas-based buy-here, pay-here chain reported net income of $4.6 million for the quarter ended July 31. This is down from $7.2 million in the prior quarter and $7.3 million in the same period a year ago. Car-Mart executives cited a “competitive environment” as the main challenge to the company. The lower earnings come despite higher revenues and sales. Revenues for the quarter were $143 million compared to $127 million for the prior year quarter with same-store rev-
enue increasing by 8.9 percent. Retail unit sales increased 12,244 from 11,482 for the prior year quarter. Average retail sales price increased $501 to $9,965 from the prior year quarter. Car-Mart continues to move forward with its expansion plans. The chain recently opened new stores in Albany, Ga. and Rolla, Mo. These are the company’s 142nd and 143rd stores, respectively. The Rolla store is Car-Mart’s 19th location in Missouri. The Albany store is the 7th Georgia location.
8/31/15 5:13 PM
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8/27/15 10:57 AM
USED CAR NEWS
Auto Finance Expands as Delinquencies Improve Automotive finance remains strong and stable. Experian Automotive reports that the total dollar volume for outstanding automotive loan balances grew by $92 million in the second quarter compared to the same period a year ago. It was the largest dollar volume growth since 2006. Total loan balances also reached a record-high $932 billion in the second quarter, up from $840 billion in the second quarter of 2014. In addition to rapid growth and record-setting dollar volumes, the automotive loan market showed increased stability, as consumers continued to make timely payments. In the second quarter of 2015, the 30-day delinquency rate dropped to the lowest level for a secondquarter period in the past five years at 2.32 percent, down from 2.37 percent in the second quarter of 2014. The 60-day delinquency rate was 0.607 percent, up slightly, from 0.603 percent in the second quarter of 2014.
â€œThe automotive loan market is working the way itâ€™s supposed to, with loans being made, vehicles purchased and payments made on time,â€? said Melinda Zabritski, Experianâ€™s senior director of automotive finance. â€œThe
remains below the 23.7 percent level observed in the third quarter of 2009, TransUnion reports. â€œLenders are being prudent about re-entering the subprime lending market, and consumers are effec-
â€œThe automotive loan market is working the way itâ€™s supposed to...â€? Melinda Zabritski automotive loan market is gaining momentum while maintaining remarkable stability. Itâ€™s a good sign for the economy overall.â€? The drop in delinquencies comes even as creditors expand the pool of consumers they finance. Subprime delinquency rates fell to 4.98 percent in the second quarter, down from 5.09 percent in the second quarter of 2014, according to TransUnion. This indicates plenty of room to grow in the subprime segment. Subprime participation
tively managing their loans as delinquency rates remain stable,â€? said Jason Laky, senior vice president and automotive business leader for TransUnion. â€œIn todayâ€™s lending environment, weâ€™re seeing consumers across all risk tiers take advantage of low rates.â€? Creditors are not only increasing the number of subprime customers, but also the amounts they are financed. The average amount for a subprime loan increased 3.74 percent to $18,200 in the second quarter, according to Equifax.
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8/31/15 4:35 PM
USED CAR NEWS
NEWS BRIEFS Finance Firm Changes Name
patch are not part of the transaction 20,000 customers. This announcement marks the with DealerSocket. companyâ€™s second expansion in reIAA Expands in Texas cent years. Insurance Auto Auctions Inc. anDealerSocket Acquires nounced the recent expansion of its Dealertrackâ€™s Inventory Tools3 Austin, Texas, facility. DealerSocket Inc. and Dealertrack The site, now comprising 57 acres, Technologies Inc. announced they was relocated in July 2012 to the have entered into a definitive agree- current location, which initially ment under which DealerSocket spanned 37 acres and featured two will acquire Dealertrackâ€™s Invento- covered run-and-drive lanes and ry+ business in an all-cash transac- 250 feet of covered motorcycle and tion for approximately $55 million. high-value vehicle storage area. Under the terms of the agreeThe recent expansion of 20 acres, ment, Dealertrackâ€™s Inventory+ completed this month, gives IAA suite of inventory management so- more versatility in providing quality lutions, including its AAX product service and increased production to in the U.S. and Canada, as well as its a higher volume of customers. eCarlist websites, will be acquired The Austin expansion incorpoNextGear Capital Announces by DealerSocket. rates enhanced sustainability feaExpansion Plan Inventory+ helps dealers cen- tures, including water reclamation NextGear Capital has announced tralize and standardize the in- technology for irrigation, recycled management process, concrete and reclaimed asphalt. plans to add up to 200 new jobs ventory gain data-driven insights, and by 2018. J.D. Byrider Adds Store The company plans to make sub- maximize profitability. DealerSocketâ€™s acquisition of J.D. Byrider has opened a second stantial investments exceeding $50.88 million to lease and renovate Dealertrackâ€™s Inventory+ business dealership in Richmond, Va. The new location is the sixth J.D. its corporate offices in Carmel, Ind., and Dealertrackâ€™s acquisition by to support its growing customer ser- Cox Automotive Inc. are both ex- Byrider dealership in Virginia. pected to be completed by the end of It is the second Virginia dealervice and technology divisions. Additionally, NextGear Capi- the third quarter of 2015, subject to ship for franchisee Craig Baker. Baker opened Richmondâ€™s first J.D. tal plans to upgrade its technol- regulatory approval. Dealertrackâ€™s Canadian TradeByrider in 2012. ogy infrastructure and software Carolina_UCN Sep7.pdf 1 8/27/15 9:01 AM to better serve its more than tracker product and Central DisJ.D. Byrider has opened six dealerSouthern Auto Finance Co. LLC will use the name SAFCO exclusively, effective immediately. This formalizes the shorter phrasing that most customers and employees already use, and it serves a larger purpose. In recent years, SAFCO has grown from a regional provider to a finance company that serves markets in 20 states. To accompany this, the company has also introduced a new, streamlined logo, which is being updated across all of SAFCOâ€™s materials. Everything from the website to brochures are being revised to present a clean, modern appearance.
ships in 2015. The company now has 169 locations in 34 states.
Enterprise Taps Chase for Finance Enterprise Car Sales and Chase Auto Finance announced a new multi-year agreement that aims to provide car buyers a seamless customer experience â€“ from the selection of their vehicle to the financing of their purchase. Under the agreement, Chase will be the private-label auto finance provider at more than 130 U.S.-based Enterprise locations. Marketed and serviced under the name Enterprise Auto Finance, the offering will provide customers a financing experience that complements Enterpriseâ€™s customer service. Enterprise Auto Finance will roll out later this year.
C R O S S WO R D by Myles Mellor
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8/31/15 4:26 PM
USED CAR NEWS
Recalls Create Dimmer View of Auto Brands
Sen. Richard Blumenthal has grabbed hold of the issue of dealers selling cars with unrepaired recalls and he wonâ€™t let go. Several industry trade groups joined forces earlier this summer to defeat Blumenthalâ€™s amendment to the Transportation Bill that would have required dealers to repair recalls before selling vehicles. Now the Connecticut Democrat is joining several consumer groups to call for a Federal Trade Commission investigation of CarMax Inc. â€œCarMaxâ€™s practices endanger the lives of their customers, their customersâ€™ families, and everyone who shares the roads,â€? Blumenthal said. â€œCarMax advertises that all its vehicles must pass a rigorous â€˜125 point inspection,â€™ but no inspection that routinely ignores outstanding safety recalls can be called â€˜rigorous.â€™ Regardless of whether they are buying a new or used car, all consumers deserve to know they are buying a safe car.â€? Blumenthal is basing his claims on a study by Consumers for Auto Reliability and Safety Foundation and M & R Strategic Services that found 74 used cars with supposed defects offered for sale at CarMax dealerships in Hartford and East Haven, Conn., during two 24-hour periods in July and August.
CarMax responded by once again stating that its employees go over all recalls with buyers and that only franchise dealers can fix manufacturer recalls. In related news, a study by the American Customer Satisfaction Index finds car buyer satisfaction is down for a third straight year, due in part to the growing number of high-profile recalls. Customer satisfaction with automobiles fell to 79 on ACSIâ€™s 100-point scale. â€œWhile it is true that all cars are now much better than they were 10 to 20 years ago, it is alarming that so many of them have quality problems,â€? says Claes Fornell, ACSI Chairman and founder. â€œThe number of recalls is at an all-time high. This should not happen with modern manufacturing technology and has negative consequences for driver safety, costs and customer satisfaction.â€? Car owners report a 40 percent increase in recalls compared to the second quarter of 2014, which â€“ along with rising prices â€“ is damaging driver satisfaction. Among 27 nameplates tracked by the ACSI, 15 lost ground in customer satisfaction and only two improved from a year ago â€“ Acura and BMW. Another study by a group of mar-
ADD IT TO THE LIST: The 2010 Chevrolet Cobalt is one of the latest cars to be recalled. GM is recalling 59,474 vehicles for an improperly routed Side-Impact Sensor (SIS) wiring harness in the driver side front door.
keting professors found the negative effect of recalls goes beyond one brand. The study, published in the Journal of Marketing Research, analyzed product recalls in the automobile industry and considered four car manufacturers: the Japanese firms Toyota, Honda and Nissan, and the American firm Chrysler.
The authors tracked the sentiment of online chatter for multiple models within each automotive brand for approximately 18 months. The authors found that recalls of one brand inflame negative chatter about that brand, but then spill over into negative chatter about rival brands, a phenomenon the authors call â€œperverse halo.â€?
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IARA â€“ from page 1 â€œHe held that position for 13 years,â€? Alfonso said. â€œWhen Dave began at Honda, the company had no end-of-term lease return program and no remarketing program. â€œDave established and grew both.â€? Langleyâ€™s first year at Honda resulted in 3,500 remarketed vehicles. By his 13th year, the program had grown to more than 200,000 vehicles, Alfonso said. At that time, Langley began to talk with industry leaders about forming the International Automotive Remarketers Alliance. About eight to 10 people attended the first meeting of the original IARA members, before the group had an official name. â€œDave Langley served as our very first president and the Alliance was off to a quality start,â€? Alfonso said. Langley left Honda in 2007 to start his own nationwide auto remarketing company, but eventually moved on to Auto Financial Group as vice president of operations.
â€œIâ€™m humbled,â€? Langley said. â€œIâ€™m humbled that the organization looks back at my tenure with appreciation.â€? Langley said he remembered when the group had its first meeting that surpassed 100 attendees. â€œI was on cloud nine,â€? he said. â€œI thought we had reached our peak.â€? But Langley said those who followed him added to the groupâ€™s legacy and grew it further. He thanked Alfonso and Scott Kolb particularly for being part of the organization from the beginning and sticking with it all of these years. In addition to others he thanked, Langley also mentioned the late Matt Marks, a longtime IARA director who died in 2012. â€œHe was a gentleman and the type of person that, when you meet him and get to know him, he made you a better man,â€? Langley said. â€œMatt did a lot for this organization and just did a terrific job.â€?
Cox Salutes Minority Dealer Cox Automotive and the National Association of Minority Automobile Dealers (NAMAD) presented the second annual Innovation Award to Carlos Liriano, dealer principal at Lost Pines Toyota in Bastrop, Texas. The 2015 NAMAD & Cox Automotive Innovation Award honors a leader in the industry who has positively impacted their organization and the industry, and Liriano was selected for his leadership in enviromental and energy efficient design and operations. Cox Automotiveâ€™s Kevin Filan presented the award to Liriano during an awards dinner on July 9 as part of the 2015 NAMAD Conference, held at the Fontainebleau from July 7-10. â€œI am deeply inspired by Bastropâ€™s commitment to the environment and preservation, and I believe that a facility that embodies a commu-
nityâ€™s core values has the potential to touch thousands of lives,â€? Liriano commented. â€œIt was this idea that led us to design and build Lost Pines Toyota with a focus on environmental and energy efficiency standards, ensuring that the impression we leave is a positive, lasting one. This is a huge undertaking that wouldnâ€™t be possible without my tremendous team that is equally as committed to seeking new ways to decrease its environmental footprint and reflect positively on our community in Bastrop County.â€? Since opening the dealership in 2012, Liriano kept a strong focus on being on the forefront of the green initiative and revolutionizing the way car dealerships do business. Today, his dealership is the only Gold LEED Certified dealer serving the Austin market.
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8/31/15 5:16 PM
USED CAR NEWS
September 7, 2015 • 7
Manager Admits to Embezzlement By Sheila McGrath
A former used-car dealership manager could be facing a year in jail after a scheme to cover up losses at his store spiraled out of control. Mark Daniel Reese, 37, of Sparta, Mich., was charged with embezzling more than $20,000 from his employer, RightWay Auto Sales, and pleaded guilty to the crime in June. He was sentenced in August to 10 months in jail. RightWay is a Michigan-based chain with 25 stores in Michigan, Illinois and Ohio. Reese was sales manager in one of the company’s Grand Rapids-area stores and worked for the company for three years. According to the police report, Reese told investigators the troubles began because he was overpaying for trade-ins in order to make sales, and was being underpaid for the cars he wholesaled, thereby losing money for his employer. He found himself running short in the fall of 2013, the report said. “Mr. Reese states he felt he could make this up at the start but then saw he couldn’t,” the police report states. “He then cooked the books in an attempt to make it look right instead of going to them and admitting he had a problem with his accounting.” The police report details multiple layers of the scam he operated from late 2013 until March 2014, when RightWay contacted the police. They included creating fake car deals with forged documents and
signatures, altering or creating vehicle titles to cover losses and creating false banking deposits to hide the shortages. Reese also admitted to police that he took money from the safe to pay an employee who had received a smaller paycheck than expected due to one of Reese’s fictitious sales. Reese told police he paid off the employee “so that he would keep the employee happy and they would not call corporate,” according to the police report. In all, the employee received $2,500 in three payments from Reese. Company officials said there was a total of $24,536 missing from the safe after Reese’s termination in March 2014, money they said he used to pay employees, assist with down payments for customers and for personal use. In addition, he received $12,404 in compensation he was not entitled to, based on fake car sales and an inflated profit margin, according to the report. RightWay Auto officials told police their total loss was just over $37,000. Reese had a prior record of arrests for writing bad checks and attempting to commit ID theft. He pleaded guilty to the embezzlement charge in exchange for the prosecutor dropping a habitual offender charge that would have brought a 15-year sentence. The prosecutor indicated he would seek a jail term of up to one year and restitution to Rightway Auto and its insurance company.
Most Consumers Prefer Owning Cars According to the PEMCO Insurance Northwest Poll, about one in three drivers think it would be at least somewhat easy to reduce the number of cars that people in their household drive, but merely one in 10 drivers said they’d rather give up owning their vehicle. In fact, across Washington and Oregon, just 3 percent of licensed drivers live a car-free life. The PEMCO poll finds that 95 percent of drivers here own or lease, or regularly drive a car owned by someone else – and most prefer it that way. A majority – 87 percent in both states – say they like having their own vehicle and couldn’t imagine life without it. In the Northwest, 88 percent of single-person households own at least one car, and two-thirds of all households – especially those with kids – own or lease two or more cars. Conversely, just one-quarter of households with two or more people share one vehicle. The poll shows that drivers don’t think going car-less will get any easier with time, either. About half
think making do with fewer vehicles would be difficult today, and a similar number predict that it will be difficult five years from now, as well. For now, the poll finds that style and economy sway drivers the most when it comes to selecting a car, with safety a distant fourth priority among poll respondents. Most drivers (82 percent) consider price, along with fuel efficiency (61 percent) and body style (42 percent) as their top three factors for selecting a new or used car, while just one-third (29 percent) would consider a vehicle’s safety features among their top three. Northwesterners don’t buy new cars often. According to the poll, most drivers here believe 10 years is about the right amount of time to keep a car before replacing it. Drivers without kids – and those drivers tend to be older – are more likely to prefer keeping their vehicle longer. Younger drivers under 35, are twice as likely to keep their car fewer than five years.
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8/31/15 5:27 PM
USED CAR NEWS
DEALER EDUCATION EDUCATION KEY TO FINDING WAY IN REGULATORY LANDSCAPE The biggest change in dealer education over the past five years is compliance. That is according to Ken Shilson, founder of the National Alliance of BuyHere, Pay-Here Dealers. And that topic is a large focus of the NABD’s upcoming East Coast Conference in November. “Compliance is obviously center stage right now,” Shilson said. “You really have to be on top of your game today and be aware of any compliance moves you have to be making.” Shilson is once again providing a track specifically focused on compliance issues called “Compliance University.” Dealers who participate in each of the sections of the track will receive a special compliance certificate. Industry attorney Tom Hudson provided Shilson with the names of the best attorneys to teach each section of each course. The attorneys are specialists in each of the areas covered in the conference, from fair lending and dealer advertising to collection law and financing addedowns, among other topics. A former senior strategist of the CFPB’s enforcement division will also discuss how regulatory issues may change the buy-here, payhere industry. The conference will also address another aspect of dealer education in the compliance arena - where can dealers find affordable compliance resources. “We’ll also talk about payment device compliance and repossessions,” Shilson said. Shilson said that handin-hand with compliance, buy-here, pay-here dealer education has placed more emphasis on finance as part of the changing regulatory landscape. “It’s put a whole additional burden on us,” Shilson said. “I think the second thing is that technology has never been better. But you have to understand what it does and
how to implement into your operation effectively. I think the challenge is that when dealers are losing market share, they don’t want to spend money. But you have to stay competitive.” Shilson said the third thing is that dealers must be educated on finding and acquiring capital. “Dealers have to know what to do. That is, what are the capital providers requiring for dealers to get the money?” Shilson said. “You have to have financial analysis, static pools, metric analysis, systems, processes and documentation, etc.” Shilson said the level of sophistication needed to fund a buy-here, pay-here operation has greatly increased. “The margin of error is smaller than ever before, therefore the amount of expertise you need is greater than ever before,” Shilson said. “The market is more demanding. So are the capital providers because they don’t want to lose $4 or $5 million trying to figure out if you know what the hell you’re doing. “ Because of the money a dealer has to put on the street, “if you make a mistake, you spiral out of control and never recover,” Shilson said. Shilson has seen dealers’ views change on the whole
issue of dealer education. During several recent state dealer conventions, Shilson said attendees have been more engaged than ever before. “They’re listening more closely, asking more questions, networking more and
spending more time in the exhibit hall,” Shilson said. “Those who are coming out realize the importance of getting education to stay on top of your game.” He said there is as much to learn in the exhibit hall as in any conference.
“That time allows a dealer to talk to experts and network at the same time,” Shilson said. He urges dealers to read trade publications, train their people and understand that the game has gotten tougher.
CREDITORS SIGN ON FOR COMPLIANCE TRAINING The National Automotive Finance Association announced that several major lenders are participating in its Compliance Certificate Program. The program, hosted by NAF Association, with online curriculum segregated from the Association’s Consumer Credit Compliance Program, assists consumer finance companies in complying with federal and state regulatory requirements. The Compliance Certificate Programs will cover the following: Collector, Underwriter, Sales/Dealer Relations, Contract Auditing/Funding, and Customer Service. Each module includes two case studies specific to the subject material of the course and tests the
knowledge of the laws and regulations as they apply to real world situations. Of the major lenders participating, Westlake Financial Services will have 600 associates enroll in the certificate programs. “Compliance is a chance for us to differentiate ourselves and gain a competitive advantage,” said Ian Anderson, Group President of Westlake Financial Services. The very best thing we can do in this evolving compliance landscape is to invest in training, and ensure our team has the tools and knowledge to always do the right thing for the customer.” Jack Tracey, executive director of the National Automotive Finance Association, points to the participa-
tion of major lenders as an indicator of compliance’s growing importance in the auto financing space. “Westlake’s participation in the program demonstrates the company’s determination to ensure better business practices, which will drive better customer service,” Tracey said. “We are excited to see Westlake participate and hope this sparks other finance companies to follow in Westlake’s footsteps by registering their employees to get certified.” NAF Association also announced the three remaining certificate programs: Customer Service Representative, Sales/Dealer Relations Representative and Contract Auditing/Funding Representative.
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8/31/15 4:16 PM
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Classic Car Store Hosts Events By Jenny King
A wedding reception where guests can mingle with vintage street rods, â€˜50s convertibles and soughtafter imports? Why not, when a dealership building has more than enough space for its inventory? Weddings, award ceremonies, meetings, perhaps even family reunions â€“ all are welcome to rent space at Gateway Classic Cars in Oâ€™Fallon, Ill. The St. Louis-area dealership is stocked with some 125 consigned specialty cars plus over 80,000 square feet of planned event space. â€œWe started with a holiday party in December of last year,â€? said John Busch, the full-time event coordinator. â€œThe party was free and we asked for $5 for every car, which was donated to charity.â€? The business does not directly track the effect of events on vehicle sales. They say this is a way to raise the profile of Gateway in the community since its move to this building in April of 2014. â€œOur sales here average 25 a month, give or take,â€? Busch said. In addition to private events, Gateway has been the site of a sports memorabilia show that brought in vendors, giving added exposure to the dealership. As a rule, there is a $3 per person admission charge just to enter the building, Busch said. This is true
for potential customers unless they have appointments with a member of the sales team. The well-developed setting resembles a museum, which makes it easy to explain the modest admission fee. â€œWeâ€™ve used mailers and social media to advertise the event space plus weâ€™ve held some open houses,â€? said Busch, whose job comprises not only booking events but also helping set up for them and being on site throughout the day or evening. The event contract stipulates that the outside group is liable for any damage to the cars in the building. Flat screens abound and there is appropriate furniture in the various event rooms but no kitchen. Busch, whose education and work experience are in the hospitality industry, said caterers (who must be licensed) these days are self-sufficient and can work without an onsite kitchen. They bring everything they need with them, he said. The parking lot at Gateway Classic Cars accommodates up to 431 vehicles â€“ plenty of space for the car show on the calendar for September. Three of the four weekends in September have events on the Gateway calendar, Busch said. There are 10 dealerships in the Gateway Classic Cars family. Those are located in prime areas in Tennessee, Texas, Florida, Kentucky, Michigan, Illinois and Indiana. Oâ€™Fallon is the only one to date with space and staff for special events.
Service Invests in Driverless Cars TUCSON, Ariz. (AP) â€“ Uber is partnering with the University of Arizona to develop mapping technology as the ride-hailing company expands its research of driverless car technology. The partnership announced recently between the San Franciscobased company and the university includes a $25,000 grant to UofAâ€™s College of Optical Sciences. â€œWeâ€™ll work with some of the leading experts in lens design here at the university to improve the imagery of what we capture and use to build out mapping and our safety features,â€™â€™ said Brian McClendon, vice president of advanced technology for Uber. Uber will test mapping vehicles on Tucson roads. McClendon wouldnâ€™t elaborate on how many Uber employees would be working with university researchers but said he considers this a long-term collaboration. â€œI think the College of Optical Sciences is one of the leading in the world, and we are looking for improving the technologies that mapping and driverless vehicles are dependent on, and this is a great place to start,â€™â€™
McClendon said. Gov. Doug Ducey hailed the new partnership. â€œItâ€™s in Arizonaâ€™s best interest to embrace new technology,â€™â€™ Ducey said. â€œThis is about economic growth. It means new jobs, new research opportunities here at the UofA.â€™â€™ Ducey has been a big proponent of Uber since taking office in January. The Republican governor stopped state regulators from enforcing regulations that required Uber drivers to have commercial insurance and licenses. Then he backed a bill overhauling rules for ride-hailing companies like Uber and Lyft. The new law removed regulatory roadblocks to the growing services. Uber has made other efforts to boost its research into driverless cars. The company partnered with Carnegie-Mellon University in Pittsburgh in February on a driverless car research lab. In March, Uber also bought digital mapping specialist deCarta, which provides maps for many consumer products, including General Motorsâ€™ OnStar system.
8/31/15 4:55 PM
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GWC Upgrades Online
SAL EVEREY TUESD AY
GWC Warranty released its first video in a new dealer story campaign. The new series of short video stories, titled â€œBehind The Wheel,â€? pulls back the curtain to unveil the people and communities that make independent dealers successful. Each dealershipâ€™s story also delves into how the products, service, technology and training GWC provides align with their mission to operate a reputable, successful business. â€œâ€˜Behind The Wheelâ€™ gives a rare glimpse into the lives, the people and the communities that make up the more than 37,000 independent automotive dealers nationwide,â€? said GWC CEO Rob Glander. â€œThese dealerships have a unique relationship with their customers and their communities, and â€˜Behind The Wheelâ€™ goes behind the scenes to showcase how GWCâ€™s core values as a company align with the goals of independent dealers everywhere.â€? The first short film features Zimmermanâ€™s Automotive, an independent dealership in rural Mechanicsburg, Pa., that has been a GWC customer for nearly 20 years. It tells its story of community involvement, customer service and a reputation 50 years in the making that is further strengthened by offering GWC vehicle service contracts.
The service contract firm also celebrated the one-year anniversary of its online Dealer Portal with a new release of its product that went live Aug. 19. In one year, the GWC Warranty Dealer Portal received more than 45,000 vehicle service |contract submissions. GWC Warranty has introduced two new benefits exclusively for its Elite and WealthBuilder Dealers â€“ GWC Virtual Training and Covideo. GWCâ€™s new Virtual Training platform is an interactive online video training tool with content for every employee in a dealership. Available content topics include compliance, F&I processes, sales strategies and GWC product information. Available for new employee rampup and legacy employee refresher courses, GWC Virtual Training also boasts testing and reporting functions to maximize retention and track progress. Covideo is a customized, branded video email marketing service for lead follow up, vehicle walkarounds, thank you videos for buyers and more. â€œAt GWC, we help dealers sell more cars by providing products, service, technology and training to help build upon their success,â€? Glander said.
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Urns Found in Car Bought at Auction
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under photo albums, social security documents and other paperwork. Three appear to be human, with a fourth likely holding a pet named â€œCha-Cha.â€? Davidson is trying to find the owner of the documents and urns. She tried to contact the former owner Sasha Eddins through social media but got no response. â€œTo find clothes or junk and trash is one thing, but to find somebodyâ€™s urn and family members â€“ it was a little bit different,â€? she said, according to KOMO-TV.
New Car Stores Poised to Set Record Urban Science, a consulting firm, projects the average number of sales per franchise dealership is trending to an all-time record of 945 units based on vehicle sales of 17.1 million. This all-time high would mark the fourth straight year the U.S. dealership network set a new throughput record. The information comes from statistics and insights from Urban Scienceâ€™s 2015 midyear Automotive Franchise Activity Report (FAR). The most recent FAR shows a slight increase in the number of automotive dealerships in the United States since the end of 2014.
As of July 1, 2015, there were 18,011 dealerships (rooftops), a 0.3 percent increase from the Dec. 31, 2014 total of 17,953. The number of franchises (brands a dealership sells) also increased slightly, 0.3 percent â€“ from 31,609 on Dec. 31, 2014, to 31,714 as of July 1, 2015. While the majority of local markets have not experienced a change in the number of dealerships, the following areas have experienced the most significant increases through the midyear: Texas, California, Florida, Iowa, Maryland, Michigan and Virginia. Texas led with 10 new stores.
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USED CAR NEWS
PEOPLE IN THE NEWS KAR Tech Executive Up for Award
KAR Auction Services Inc. announced that Peter Kelly, chief technology officer of the company’s Digital Ser-
Peter Kelly vices Group, has been selected as a finalist for Indianapolis Business Journal’s 2015 CTO of the Year program. The CTO of the Year program honors CTOs who play vital roles in making Indianapolis businesses, institutions and not-for-profit groups successful.
These individuals, along with their CEOs, impact all aspects of the business, including growth, profitability, functionality and competitiveness. Also, KAR announced the promotion of Michael Newman to chief innovation officer of AuctionTrac, a business unit of KAR that utilizes satellitebased GPS technology for advanced vehicle tracking. Newman’s responsibilities as chief innovation officer include leading the company’s development and implementation of new technology initiatives and enhancement of current offerings, including mobile apps, and building and driving a culture of innovation within the company. He will also continue to create tools for employees to facilitate their day-to-day
tasks. Prior to this promotion, Newman was co-founder and senior vice president of AuctionTrac. Under Newman’s guidance, the software has been integrated and expanded into the AuctionTrac Dealer App, which is now part of the ADESA Marketplace App.
As principal of Vogelheim Ventures, he is involved in a variety of initiatives including Motor Trend Audio, DrivingSales, RyanTech and Webcars. Throughout his ca-
TPC Hires Industry Vet
TPC Management Company has announced that industry veteran Charlie Vogelheim has joined the firm as a partner. An auto enthusiast who has spent three decades observing and supporting the automotive industry, Vogelheim has served as vice president of J.D. Power & Associates, and as executive editor at Kelley Blue Book, InteliChoice and Motor Trend Auto Group.
Charlie Vogelheim reer he has worked extensively with the National Auto Auction Association as an education consultant and program moderator, and has been instrumental in developing key online tools for the automotive industry, including kbb.com and
the automotive sites at leadership positions Microsoft, AOL, Yahoo within dealer subprime and eBay. at Capital One Auto Finance, as well as the Exeter Hires Marketing marketing and analysis Vice President department for Capital Exeter Finance Corp. One Credit Card. announced the appointment of Brian Auctions Hire Donohue as executive Sales Director vice president of anaBill Westlake has lytics and marketing, been named director effective Aug. 17. of national commercial Donohue most re- sales for Metro Auto cently served as vice Auctions. president of servicIn his new role he will ing, subservicing and work with both Metro integration operations Auto Auction locations for Capital One Home in Phoenix and Dallas. Loans, where he led Westlake comes to customer operations, Metro Auctions from default operations, Cox Automotive/Mansubservicing opera- heim, where he began tions, and the inte- his career in the aucgration of multiple tion industry as a seservicing platforms nior staff accountant for a $50 billion mort- and corporate financial gage and home equity manager. portfolio. He led the sales force Donohue also led for Manheim Online Capital One’s retail before serving as dibank collection and rector of national comrecoveries operations. mercial accounts from Prior to that, he held 2005 through 2015.
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Doug Walters, president, Bud & Doug Walters Auto sales, Kalamazoo, Mich.: â€œWeâ€™ve been in business sine 1976. â€œI have one location for the dealership and a second location for service. We just built the service location last year. â€œI havenâ€™t had as many cars in inventory this year due to not being able to find as much of the right stuff that I want. Typically weâ€™ll have 60 cars on the lot ready. Right now, we have 48 to 50. â€œOn average, we retail in the low-40s, maybe 45 per month. Business is good, but the numbers are down because of the difficulty in finding product. â€œWe donâ€™t sell rental cars or cars that were previously Canadian cars. Itâ€™s a lot of off-lease and individual lease cars. I also have a good rapport with newcar stores. â€œWe get a lot of repeat and
referrals over the years, so weâ€™re grateful for that. â€œWe focus on two- to three-year-old cars, so weâ€™re up against new-car stores more than used-car dealers. â€œWe call ourselves a newcar alternative. â€œWe work with banks and credit unions, mainly local. â€œAverage mileage is low, no more than 25,000 miles. â€œMost of our buyers can afford anything they want. But theyâ€™d like to save $10,000 (as compared to buying new). â€œWe used to be about 5050 cars and trucks. We donâ€™t sell as many trucks any more. One reason is they cost so much money that itâ€™s hard to compete. â€œWe do sell a lot of SUVs. â€œWe sell a lot of imports, about 50 percent. â€œWe also get into the highline stuff too. â€œEven with a newer vehicle, reconditioning still isnâ€™t cheap. This is why I had the (addition) of this new service department. Even with these newer ones, we put,
on average, about $500. â€œI donâ€™t do hardly any advertising outside of the Internet. We use cars.com and carsforsale.com. â€œI have to plug Carsforsale.com. They are awesome. They have a system thatâ€™s very inexpensive. It allows us to put cars online and even print Buyers Guides from their site. You can also print out window flyers and all that is included in the price. â€œWe recently sold a 2014 Mercedes ML350. It only had 4,000 miles. A local couple bought that for $47,800.â€?
Moss Miller, president, Miller Automotive, Jackson, Tenn.: â€œIâ€™ve been in business 19 years. â€œThis time of the year, we keep probably 75 to 80 cars in inventory. â€œIn July, we sold about 28 cars. â€œWe source our vehicles from dealers, and whole-
" #&$& !% salers, but our primary source is probably going to be auto auctions. We use Manheim Nashville and ADESA Memphis. I also use Cainâ€™s Murray Auto Auction in Kentucky. â€œOur average retail price is in the $8,000 to $12,000 range. â€œWe actually lowered our prices a couple of years ago. People started to want lower down payments, so we lowered our prices. â€œAbout half of our stuff is lease-here, pay-here and the rest is mostly buy-here pay-here. We might do 5 to 10 percent. â€œWe just recently, in the last year or so, started doing lease-here, pay-here. Weâ€™re probably going to convert entirely to that. The biggest benefit for lease-here, payhere is that customers cannot file bankruptcy on you. It was a major issue. â€œAverage model year is probably 2008. â€œMileage is going to run between 75,000 and 135,000. At one time, we ac-
tually had higher mileage. â€œCustomers are just looking for transportation. â€œWe probably run 40 percent SUVs, 30 percent cars and the rest are pick-up trucks. â€œAbout 75 percent of our inventory is domestics. â€œI actually have another retail store to do my reconditioning. Recon averages about $400. Weâ€™ll do 20 percent of our recon at the Jackson store. We wonâ€™t fix every single thing. Itâ€™s a used car. We try not to put new tires on everything either. It would run the cost up. But we also get some cars from wholesalers that are nice when we get them. Cainâ€™s Murray also reconditions their cars well. They get them ready to go. â€œOur primary advertising is print. Weâ€™ll do 60 percent print and 40 percent Internet. â€œWe use Cars.com, Autotrader.com and Carfax.com. â€œWe just sold a 2005 Ford Mustang for $11,900. It had 102,000 miles.â€?
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USED CAR NEWS
WHOLESALE MARKETS CALIFORNIA
Tony Calloway, vice president, South Bay Auto Auction, Gardena, Calif.: “Our Gardena location has been around since 1992. We have seven lanes. During this time of the year (late August) we run anywhere from three to five lanes. “Right now, we’re looking at 300 to 500 (cars) per sale. When we’re really cooking, we’ll run about 700 a week. “The lease lanes are tremendous. Those are selling at about 77 to 78 percent. The dealer cars have been a challenge at this time, around 45 percent. “Our auction was built on the credit union industry. That has been our breadand-butter. “The credit unions gave us an opportunity to service them and we serve about 80 percent of the credit unions in the state of California. Credit unions probably provide 60 percent of our volume. Dealers are about 20 percent.
“We also deal with companies like ARI, who are big on selling cars online. “We have a Stockton facility that does more dealer (volume). “Our sale is on Monday morning, which is a little different. We try to get our dealers at the sale (early in the week). We like to be the first sale dealers go to after they’ve sold some cars, got some trades and need to replenish from the previous week. “We get a lot of bidders through Auction Pipeline, too, from as far away as New Hampshire. Pipeline for us has been a great transition allowing us to sell cars all across the nation. “I would say the average range is between $8,000 and $12,000. “We offer basic reconditioning ranging from tires, batteries and windshields to dent removal and painting bumpers. “We try to get the car to stand as tall as possible. “I’m a former car dealer,
so when I sold cars at auction, I wanted it detailed and shined up. “No matter what a dealer tells you, he still likes pretty. He still will buy what has eyeball appeal. “We have a specialty sale once a month where we’ll sell RVs, jet skis, boats (etc.). We might run 100 each month. I actually sold an old wrecking ball once.”
Doug Rodriguez, general manager, BSC America Tallahassee Auto Auction, Tallahassee, Fla.: “The auction has been here 31 years. I’ve been here going on six years. “We’re running three lanes, we’re looking to increase to four lanes, probably next year. For us, that’s always been our intention. We started at two lanes and then went to three. Now we’re filling three lanes and looking to possibly add a fourth. “During the last Friday in June, we had our 31st
anniversary sale. We had more than 700 units on the ground. “We’re running between 500 and 600 every week. Our conversion rates are 50 or 55 percent, somewhere in that range. “As far as consignment (volumes) we’re way up. Selling is way up, as well. Conversion rates are about the same. “We’ve just been consistently growing. “Our commercial consignment has grown. Five years ago, we were maybe 95 percent dealer (cars). Now we’re 90 percent. So we’ve gained additional commercial business. “We’ve got Avis Budget and we pulled in Westlake Remarketing. We’ve also got DriveTime coming in through DT Credit. “By growing the (commercial) consignment, it brings in a more diverse buyer. “Average prices in the lanes range form $5,500 to $6,500. That’s gone up. Fleet-lease and com-
Compiled by Jeffrey Bellant mercial business has increased that, but we’ve also brought in more franchise business. Those new-car trades have just been better quality trades. “In the Tallahassee area and the Panhandle in Florida – from an economic standpoint – is very strong. It’s vibrant. “Most of the people that I interact with are very optimistic. That’s both franchise and independents. “We’re a full-service auction. I have a three-bay mechanic shop. I have a twobay reconditioning center. A client like DT Credit is very much into recon. “We also have a full complement of transportation carriers and driving services. “Our market for trucks is super strong. One of our big clients is U-Haul. So we’ll get 2014 to 2015 F-150s – they just came in and they are selling well. “Trucks are strong. Work vans are strong. It’s a good sign.”
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MONTHLY DEALER CONSIGNMENT AVERAGES AVG. PRICE AVG. MILEAGE
AVG. PRICE AVG. MILEAGE
COMPACT CAR PICKUP 8PSLXJUIUIFPMEFTU NPTUFYQFSJFODFEQSPWJEFSJOUIFJOEVTUSZ 1BZTVQUPPOUIFEPMMBS UIFJOEVTUSZTIJHIFTUBEWBODF %FBMFSDPOUJOVFTUPDPMMFDU /PSFTFSWFT /PBHJOHSFRVJSFE 8FFLMZ CJXFFLMZ NPOUIMZDPOUSBDUT "OZNB "OZNBLF NPEFM NJMFBHF 4UBSUFSJOUFSSVQU(14EFWJDFTXFMDPNF
Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 YTD AVG:
$5,631 $5,759 $5,838 $5,847 $5,680 $5,416 $5,374 $5,651
100,110 100,462 100,809 100,444 101,409 102,031 101,031 100,899
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Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 YTD AVG:
Jan 2015 $15,394 Feb 2015 $15,515 Mar 2015 $16,798 Apr 2015 $17,604 May 2015 $16,827 Jun 2015 $16,527 Jul 2015 $16,398 YTD AVG: $16,510
$4,266 $4,007 $4,240 $3,984 $4,101 $3,879 $3,749 $4,035
108,579 113,914 114,926 115,364 112,518 113,940 115,275 113,601
Jan 2015 $12,358 Feb 2015 $11,598 Mar 2015 $12,383 Apr 2015 $13,142 May 2015 $12,656 Jun 2015 $12,181 Jul 2015 $12,138 YTD AVG: $12,367
SUV 95,857 99,194 98,343 96,598 96,788 98,554 97,972 97,592
Jan 2015 $11,557 Feb 2015 $11,243 Mar 2015 $11,773 Apr 2015 $12,011 May 2015 $11,967 Jun 2015 $11,502 Jul 2015 $11,609 YTD AVG: $11,669
Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 YTD AVG:
Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 YTD AVG:
$6,156 $6,211 $6,387 $6,475 $6,298 $6,114 $6,096 $6,254
79,612 79,439 74,113 73,174 74,225 74,971 75,059 75,565
108,791 109,109 109,545 108,701 108,902 109,724 108,300 109,013
$6,420 $6,415 $6,729 $6,814 $6,624 $6,381 $6,407 $6,549
105,666 108,480 107,163 106,895 106,086 107,539 105,823 106,801
118,412 120,351 117,808 118,265 120,034 120,903 119,894 119,324
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111,264 110,360 108,826 106,980 106,454 107,940 106,070 108,228
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Jan 2015 $13,879 Feb 2015 $14,163 Mar 2015 $14,722 Apr 2015 $15,336 May 2015 $15,456 Jun 2015 $15,221 Jul 2015 $15,576 YTD AVG: $14,921
CURRENT YTD, THROUGH AUGUST 2015
SOURCE: MANHEIM CONSULTING
8/31/15 10:52 AM
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES SEPTEMBER 2015
SOURCE: BLACK BOOK
2013 MODELS DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan 3.5 Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape SEL 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES Jeep Grand Cherokee Laredo 4D Utility 4WD
Sep ‘14 $19,800 $25,000 $11,250 $11,750 $18,850 $12,650 $12,350 $16,000 $17,000 $25,050 Sep ‘14 $23,100 $26,050 $64,000 $16,400 $13,400 $31,300 $33,600 $11,450 $12,700 $16,000 $12,450 $14,600 $12,550 $16,150 Sep ‘14 $30,550 $45,350 $30,250 $16,000 $21,400 $28,500 $14,600 $22,300 $18,050 $27,200 $21,600 $21,700 $18,600 $21,250 $28,950 $24,100
Mar ‘15 $16,800 $22,300 $10,300 $10,700 $17,450 $11,150 $11,050 $15,200 $15,250 $20,950 Mar ‘15 $20,900 $25,500 $52,700 $15,000 $12,400 $27,600 $31,600 $9,900 $12,050 $15,350 $11,300 $14,300 $12,150 $15,150 Mar ‘15 $28,350 $41,150 $25,850 $14,550 $22,300 $27,200 $13,200 $19,700 $18,200 $27,500 $21,300 $22,000 $18,150 $19,200 $27,450 $22,700
2012 MODELS Sep ‘15 $16,650 $20,900 $10,050 $9,650 $17,350 $10,500 $10,250 $14,400 $14,000 $20,400 Sep ‘15 $19,250 $21,900 $49,800 $14,600 $11,650 $25,900 $28,400 $9,000 $11,100 $14,200 $10,000 $12,500 $11,100 $14,150 Sep ‘15 $27,450 $40,650 $25,550 $13,050 $23,400 $28,500 $13,000 $18,550 $17,600 $26,500 $22,000 $22,500 $17,750 $18,400 $28,350 $22,450
Projected Figures Sep ‘16 Sep ‘17 $14,550 $12,450 $18,425 $15,625 $8,550 $7,175 $8,525 $7,250 $14,425 $11,950 $9,100 $7,625 $8,875 $7,425 $12,800 $11,100 $12,725 $10,675 $18,400 $15,925 Sep ‘16 Sep ‘17 $16,575 $14,025 $19,325 $15,850 $41,650 $34,875 $12,725 $10,600 $9,750 $8,125 $21,900 $18,075 $24,050 $20,650 $7,825 $6,550 $9,775 $8,350 $12,250 $10,350 $8,475 $7,000 $11,250 $9,725 $9,425 $7,975 $12,675 $10,775 Sep ‘16 Sep ‘17 $22,950 $18,950 $34,425 $28,700 $21,750 $18,525 $11,100 $9,025 $18,875 $15,850 $23,800 $19,825 $10,325 $8,175 $15,825 $13,125 $14,175 $11,575 $22,100 $18,025 $17,775 $14,725 $17,000 $13,950 $14,900 $12,475 $15,650 $13,150 $23,675 $20,050 $18,400 $15,050
2011 MODELS DOMESTIC CARS Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan Express Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility 4WD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Sep ‘14 $12,700 $17,950 $9,450 $9,150 $14,450 $10,350 $9,150 $12,700 $13,500 $20,400 Sep ‘14 $18,950 $18,300 $38,500 $11,800 $10,750 $20,950 $25,200 $9,200 $9,900 $11,200 $9,250 $11,350 $10,000 $12,150 Sep ‘14 $24,900 $35,400 $23,100 $18,850 $11,450 $18,500 $24,200 $11,000 $17,000 $12,400 $22,000 $18,000 $17,400 $14,550 $15,950 $23,500
Mar ‘15 $11,000 $16,100 $8,150 $7,950 $13,650 $9,000 $7,250 $11,800 $12,100 $18,900 Mar ‘15 $16,700 $17,300 $32,300 $10,700 $9,600 $18,600 $23,600 $7,800 $8,150 $9,450 $7,700 $10,400 $9,450 $10,800 Mar ‘15 $23,050 $32,200 $19,850 $17,500 $9,750 $19,000 $23,000 $9,300 $16,000 $11,600 $22,200 $18,000 $16,000 $14,100 $13,300 $21,400
DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Sep ‘14 $17,900 $21,100 $10,250 $10,300 $16,100 $11,450 $10,950 $14,300 $15,500 $21,300 Sep ‘14 $20,900 $24,400 $47,600 $13,400 $12,050 $24,500 $28,800 $10,800 $11,200 $12,500 $10,450 $13,200 $11,100 $13,900 Sep ‘14 $27,050 $40,350 $26,000 $20,850 $13,300 $21,000 $27,300 $13,100 $20,000 $14,250 $25,200 $21,200 $20,700 $16,950 $18,850 $26,650
Mar ‘15 $15,150 $18,800 $8,900 $9,050 $15,100 $9,900 $9,300 $13,300 $13,700 $18,300 Mar ‘15 $18,700 $22,600 $40,400 $12,050 $10,950 $22,000 $27,200 $8,850 $9,350 $10,650 $9,050 $13,000 $10,300 $12,350 Mar ‘15 $25,950 $35,700 $23,000 $19,700 $11,300 $20,500 $25,000 $10,300 $18,100 $13,800 $24,200 $19,500 $19,500 $16,700 $16,650 $25,350
Sep ‘15 $14,700 $18,200 $8,850 $8,600 $14,700 $9,150 $8,600 $13,100 $13,000 $17,800 Sep ‘15 $17,150 $18,900 $38,400 $11,200 $10,100 $20,400 $24,400 $7,850 $9,650 $10,950 $8,300 $11,550 $9,650 $11,750 Sep ‘15 $24,750 $34,000 $23,050 $19,000 $10,700 $21,400 $25,500 $10,500 $17,350 $14,000 $24,000 $20,000 $19,800 $15,400 $15,650 $24,850
Projected Figures Sep ‘16 Sep ‘17 $12,650 $10,650 $15,525 $13,125 $7,500 $6,175 $7,525 $6,375 $12,175 $9,950 $7,800 $6,400 $7,700 $6,400 $11,475 $9,800 $10,925 $8,975 $15,475 $12,875 Sep ‘16 Sep ‘17 $14,675 $12,300 $16,350 $13,475 $32,625 $27,050 $10,025 $8,625 $8,250 $6,800 $17,075 $14,500 $20,100 $16,700 $6,850 $5,700 $8,125 $6,875 $9,125 $7,650 $7,100 $5,925 $10,225 $8,775 $8,200 $6,800 $10,150 $8,600 Sep ‘16 Sep ‘17 $20,425 $16,625 $28,825 $23,950 $19,100 $15,775 $16,150 $13,550 $8,875 $7,200 $17,150 $14,200 $21,100 $17,550 $8,350 $6,650 $14,375 $11,650 $11,225 $9,025 $19,800 $15,950 $16,325 $13,475 $14,975 $12,150 $13,125 $11,075 $13,325 $11,225 $20,625 $17,150
Sep ‘15 $9,100 $10,850 $4,450 $6,500 $8,400 $5,800 $5,800 $10,500 $9,600 $12,750 Sep ‘15 $13,450 $12,400 $27,300 $8,550 $5,850 $14,550 $18,900 $5,700 $6,700 $8,000 $5,550 $8,400 $7,200 $8,100 Sep ‘15 $18,500 $27,800 $16,550 $14,950 $7,675 $16,500 $20,000 $7,500 $11,100 $9,350 $11,200 $15,000 $12,200 $11,900 $9,500 $17,050
Projected Figures Sep ‘16 Sep ‘17 $7,925 $6,650 $9,200 $7,450 $3,925 $3,350 $5,700 $4,750 $7,550 $6,250 $4,825 $3,900 $5,100 $4,250 $9,025 $7,550 $8,275 $6,650 $10,725 $8,700 Sep ‘16 Sep ‘17 $11,150 $9,050 $10,800 $8,975 $22,500 $18,575 $7,650 $6,475 $4,950 $4,225 $12,500 $10,475 $14,875 $11,825 $5,025 $4,075 $5,975 $5,125 $7,000 $5,925 $4,900 $4,075 $7,175 $6,050 $6,050 $5,000 $7,050 $5,850 Sep ‘16 Sep ‘17 $15,300 $12,300 $21,925 $17,675 $13,450 $10,900 $12,325 $10,075 $6,225 $5,000 $13,825 $11,325 $16,300 $12,975 $6,050 $4,700 $9,500 $8,025 $7,475 $5,975 $9,475 $7,650 $12,050 $10,050 $10,650 $8,600 $9,625 $8,100 $8,225 $6,975 $14,100 $11,650
2010 MODELS Sep ‘15 $10,400 $13,650 $7,450 $7,550 $13,050 $7,950 $6,600 $11,800 $11,000 $16,700 Sep ‘15 $15,200 $15,900 $31,300 $9,900 $8,700 $17,200 $21,200 $6,700 $8,150 $9,450 $6,450 $9,500 $8,400 $10,050 Sep ‘15 $21,900 $29,500 $19,400 $16,750 $9,050 $19,200 $22,500 $9,000 $14,650 $10,850 $21,000 $17,000 $15,500 $13,450 $12,850 $20,350
Projected Figures Sep ‘16 Sep ‘17 $9,050 $7,600 $11,500 $9,250 $6,425 $5,300 $6,475 $5,400 $10,675 $8,575 $6,750 $5,500 $5,850 $4,925 $10,400 $8,875 $9,400 $7,625 $13,875 $11,100 Sep ‘16 Sep ‘17 $12,800 $10,550 $13,000 $10,625 $26,250 $21,950 $8,900 $7,750 $7,025 $5,800 $14,700 $12,475 $17,050 $13,875 $5,850 $4,800 $7,025 $6,075 $8,050 $6,875 $5,950 $4,950 $8,325 $7,125 $7,200 $5,975 $8,700 $7,075 Sep ‘16 Sep ‘17 $17,975 $14,500 $24,575 $20,125 $15,900 $12,975 $14,025 $11,575 $7,450 $5,975 $15,550 $12,825 $19,050 $15,550 $7,175 $5,725 $12,475 $10,250 $8,825 $7,175 $17,300 $13,875 $14,250 $11,725 $13,450 $10,775 $10,950 $9,225 $10,925 $9,150 $16,825 $13,925
DOMESTIC CARS Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cobalt LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Touring 4D Sedan Chrysler Sebring Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive30i 4D SAV Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility 4WD Honda Odyssey LX Wagon Honda Pilot EX-L 4D Utility 4WD w/RES
Sep ‘14 $11,200 $14,300 $5,850 $8,250 $11,250 $7,300 $7,950 $11,300 $12,950 $16,100 Sep ‘14 $17,000 $14,700 $31,950 $10,350 $7,650 $18,000 $22,600 $7,800 $8,650 $9,950 $7,750 $10,050 $8,500 $10,000 Sep ‘14 $21,500 $32,950 $19,400 $16,900 $9,825 $16,900 $20,800 $9,400 $13,500 $10,400 $14,300 $15,800 $13,400 $12,700 $12,200 $19,650
Mar ‘15 $10,050 $12,850 $4,750 $7,050 $9,750 $6,400 $6,500 $10,200 $10,800 $14,600 Mar ‘15 $14,750 $13,000 $27,750 $9,500 $6,850 $15,600 $20,800 $6,800 $7,050 $8,350 $6,350 $9,250 $7,800 $8,900 Mar ‘15 $19,200 $30,150 $16,750 $15,700 $8,225 $16,900 $20,800 $7,200 $12,200 $9,800 $12,400 $13,600 $13,000 $11,700 $10,100 $18,100
8/31/15 10:51 AM
DISCONNECTED JOTTINGS FROM Iâ€™ve been a cookout fiend lately, mustering every device for the purpose and taking advantage of our new patio.
quet and the whole rig is small enough to be portable, yet feed four people easily. Fresh sardines caught locally, salad, some fresh
â€˘ 40-year veteran of the industry â€˘ President from 1997â€“2000 of ADT Automotive â€˘ Served as ADESAâ€™s executive vice president of sales and marketing â€˘ Moorby & Associates 2006â€“present â€˘ Awarded the Ring of Honor by NIADA â€˘ NAAA Hall of Famer
The English, generally speaking, arenâ€™t very good at â€œcooking out.â€? It typically takes a trip abroad to discover the pleasures of the grill and for me it was in Portugal, cooking sardines on the beach on a miniscule grill called a forgareiro. The device is made of terra cotta in the shape of a deep dish with the stand acting as an airway to fuel the charcoal. The top is as big as a tennis racquet â€“ indeed, the food holder looks like a wire rac-
crusty bread and a bottle of vino verde and life was very pleasant with waves lapping gently at our feet. Itâ€™s hard to replicate that sense on an English patio with damp, mossy, garden furniture that has stood guard against the weather since last yearâ€™s scrub down for the annual Bar B Cue. An English Bar B Cue has nothing to do with a pulled pork sandwich. Here in the mid-south, it tends to be a rare gathering of friends
C R O S S WO R D
waiting patiently, late on a cool evening as the host has ill timed the production of food. Drinks then fill the void and the whole affair drifts into a haze of mixed memories, having made apologies to the neighbors for the noise and smoke. Here in the States a cookout can be as different as a crab picking in Maryland, a crawfish boil in Louisiana, a whole pig roast in Georgia or a fish fry in Michigan. But no matter where, they take some planning, whether itâ€™s rubbing a rack of ribs or marinating meat and other prep starts early in the morning of the get-together. Now, Iâ€™m not against the convenience of throwing a steak on the gas grill half an hour before dinner either. I remember coming here to the States in mid-June of 1982. My colleagues and I were invited to a cookout three weeks later for a Fourth of July party (not something weâ€™d hitherto been used to attending). The invitation was from a couple
26. Fuel-efficient Chevy 28. Land Rover Range Rover ____ SRV 30. Photo ___ (media events) 31. Nurse, abbr. 32. Wheelâ€™s center 33. Automated manual transmission, for short 34. Green shade 36. ____ Cruiser 37. Rushed 39. Letters on some ale bottles 41. Pro driver 42. Unwanted fuel additive 43. Nissan SUV 44. Uncompromising 46. Hyundaiâ€™s Santa __ 48. Toyota convertible 51. Pontiac model 53. Elevator brake inventor 54. Chicagoâ€™s state 56. Braking system 57. Camry maker 58. _____ 150 or Alpine
who worked at the auction in Nashville and they were as country as corn bread. We had no idea what to expect and drove for miles to their house in the hinterlands on the other side of the suburbs. We parked the car on the front lawn with dozens of others (youâ€™d never see that in England!) and as we approached the house the awful, acrid waft of something gamey cooking assaulted us. We donned brave smiles through the introductions and finally ventured to the back yard to be entertained by the sight of a cauldron, worthy of any witch, boiling over a monster bonfire. It had the four legs of some unfortunate animal, tied together and sticking out prominently from the top. With mouths agape we inquired as to the contents and our hostess informed us, â€œOh, that rart dars a goat.
Weâ€™re a-boilinâ€™ it to get it sweet!â€? Later on, minus its hide, the goat was draped into the most elaborate barbecue pit to slow roast over the glowing embers of oak and hickory. After games of horseshoes and lolling on the back porch, a feast to suit Bacchus was produced. Beans slowly cooked with a ham hock and brown sugar, collard greens with vinegar and bacon, taters and onions cooked in cast iron skillets next to the pit, â€˜congealedâ€™ salads (a name not befitting the delicious concoction) and slaws accompanied the sweetest, most delectable young goatâ€™s meat. It was a total transformation. The meal was finished with pies and cakes and some â€œspecial liquor that Johnny made.â€? It was baptism of the barbecue and Iâ€™ve been an aficionado ever since.
To see past columns from Tony Moorby, visit www.usedcarnews.com/columnists/tony-moorby
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Across 1. British Leyland convertible 3. Alfa Romeo Spider _____ 7. Toyota sedan launched in 1999 10. Adopt 12. Audi convertible, 2 words 13. Car fluid 14. Off roading hazard, dent in the land surface 16. Request, with for 18. Car until 1957 19. Classic car named after its model year _____ 48 21. Tire support 22. Operating system, abbr. 24. Maker of the Envoy and Yukon SUVs
Down 1. Mazda ___ 2. _____ Riviera convertible 3. Saturn model 4. Lexus ___ 5. Audi rival 6. Ozone depleter, abbr. 8. â€œTop Gearâ€? host, Jeremy 9. Not at home 11. Nissan SUVs, SL and S 14. Freeway exit 15. Marvel Comics superhero 17. Houston after whom the Texas city is named 18. ____ Altima 20. Did a tiremaintenance job 23. Classic Buick passenger car 25. Ford/Shelby AC ____ 27. Nissan auto 29. It means before 32. Dodge Challenger SRT _____ 35. Clubman, for one 36. Computer 38. Marketing medium 40. Precisionist
10 13 14 17
Answers to the 8/17/15 puzzle 1
44. Jim Clark was one 45. Indian car company 46. 500 or 500X 47. Gradually lessen 49. Explain, with â€˜â€™outâ€™â€™ 50. 3000 mile change 52. Michigan time, for short 55. Weight measurement, abbr.
A M B
H W A
O W N
G O 19
Answers to this puzzle in the 9/21/15 issue. Call 1.800.794.0760 for a FREE subscription.
8/31/15 1:26 PM
USED CAR NEWS
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PLACE YOUR AD IN THIS SECTION FOR AS LITTLE AS $56! Call Marie Hingst today 800-794-0760 ext.107 email@example.com
Auto Body w/Service & Car Sales business for sale in sunny Phoenix. Over 15 years in prime downtown location. 13k sq ft lot with $300k in nice equipment incl paint booths and frame racks. Rent only $3500! Working owner nets over 200k. $395,000. Email resume and financials to firstname.lastname@example.org
FINANCE MANAGERS â€“ FL 5th largest used car dealer is currently seeking Finance Managers for its West Palm Beach, Miami and Orlando locations. Must have minimum 5 yrs experience in finance, must be able to handle 100 minimum spins a month, be detailed with paperwork, run clean, tight CITs and work in a fast paced environment. Closers can earn 20-30k per month, 8-11 days off avg per month, benefits and 401(k). Send resume to: email@example.com
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CLASSIFIEDS 8/31/15 12:20 PM
AROUND THE BLOCK
KAR GO: Employees of KAR Auction Services get ready to hop on their bikes before the Indiana Tour de Cure at the Indianapolis Motor Speedway.
KAR Auction Services Inc. announced the companyâ€™s team raised more than $9,000 for the 2015 Indiana Tour de Cure, the annual cycling event to raise money for the American Diabetes Association. Team KAR, which was comprised of 17 volunteers from the
KAR group of companies, rode together for the fourth consecutive year at the Indianapolis Motor Speedway on June 20. With the help of riders, supporters and a series of fundraising activities at KARâ€™s corporate headquarters, Team KAR raised more than $9,000, bringing the organiza-
tionâ€™s four-year total to almost $195,000 for the cause. The Tour de Cure is the American Diabetes Associationâ€™s signature fundraising cycling event, and part of KAR Auction Servicesâ€™ ongoing charitable outreach initiatives. Each year, the nationwide Tour de Cure events raise more than $29 million to find a cure for diabetes, and to support the foundationâ€™s mission. KARâ€™s ADESA subsidiary announced that four of its auctions, in partnership with the Ford Global Action Team, raised more than $283,000 for JDRF, the leading funder of type 1 diabetes (T1D) research. ADESA and Ford have long supported JDRF. ADESA joined the Ford Global Action Team in 2012 and has been partnering with Ford, the No. 1 global partner of JDRF, in numerous fundraising efforts ever since.
Manheim Unveils Auction Upgrades Manheim unveiled two new offerings at a grand opening celebration at its Riverside, Calif. location. These include the indoor Vehicle Inspection Facility and the Kelley Blue Book Resource Center. The new offerings reinforce the value that Cox Automotive offers dealers and follow on the heels of their 89,000-square-foot Manheim California Service Center, which opened in 2013. The first-of-its-kind Kelley Blue Book Resource Center, located in the main auction lobby, provides training, information sessions and customer meeting space. Manheim Riverside also recently launched a turf elimination project to significantly reduce landscape water usage. By replacing six acres of green turf grass with plants requiring less water, the facility will save approximately 15 million gallons of water annually.
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8/31/15 4:12 PM
Joffa LaRoe – Inventory Director, Gateway Buick GMC Jennifer Friday – Senior Sales Manager, Ally SmartAuction
Some lenders might go the extra mile. We went the extra 3.1.
Joffa LaRoe was blown away by the extraordinary dedication Jennifer Friday showed helping her implement Ally SmartAuction®. So much so, she asked if Jennifer would like to continue her support by joining her in a 5K charity race. Jennifer — despite not being an avid jogger — was all in. Because at Ally, when it comes to proving our dedication to our dealers, we don’t just talk the talk, or even walk the walk — we run the run.
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8/31/15 10:54 AM
8/31/15 10:53 AM