Used Car News 09/12/22

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UCN

Used Car News

9/12/2022

New NAAA President Takes Reins in Dallas

IN THIS ISSUE:

•N AAA • Quality Dealer • Wholesale Markets

Garrison Hudkins is the incoming president of the National Auto Auction Association. He is also vice president of Southern Auto Auction in East Windsor, Conn. USED CAR NEWS: Tell us about your background and how you got into the auto auction business? Hudkins: I grew up in northwest Alabama and the Richmond, Va., area. There’s an answer I like to give and then there’s the actual nuts and bolts. People talk about background, it’s in the area of their professional accomplishments, for lack of a better term. I look at it differently. I say I’m a husband and father. I’m a brother and a brother-in-law and uncle. I’m a son and son-in-law. That’s my background and the background of every one of our members. Professionally, I didn’t start out in this industry, I started out in the managed care business, working for a large managed care provider in New York. I worked my way up and then worked for some entrepreneurial companies in that space. I went on to the private equity space and then came here to Southern Auto Auction. It’s been a 13-year wild ride of fun, learning, comradery and an incredible experience that I cherish each and every day. At Southern, I started from ground up. I worked in the body shop, I plowed snow. I learned to paint cars – well, I wouldn’t say I learned. My

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ily business that’s incredible. It was started by Larry Tribble, Sr., who was my wife’s grandpa, and it’s now run by Larry Tribble, Jr. UCN: What is it like working at one of the largest independent auctions? What are the specific challenges for this type of sale? Hudkins: Our challenges at Southern are no different than any other independent auction, hotel business or any other business in any other industry. Our challenge is in hiring and training employees. It’s the same for everybody, no matter what size you are. Our reputation has been built on the loyalty of outstanding team members, of who I need more of, and great, loyal customers. That’s why Southern is where it is today. UCN: What prompted you to start serving in NAAA? Hudkins: Southern has had a long history of serving in the NAAA. As an example, Larry Tribble, Sr. was a president of NAAA. Larry Tribble, Jr., himself was a NAAA president and is a NAAA Hall of Famer. There are two other gentleman who have work product was atrocious. We have a finance company, a part of the auction who have served floorplan company that I spent a as NAAA presidents. So, it’s a rich lot of time in. A lot of the auction history in serving and it’s about business is operations, so I spent a giving back. But it’s also about collot of time out in the blazing heat. laboration, learning and bringing I learned everything about the busi- us all back collectively together to ness and you never stop learning.1 8/11/22 4:01 PM Continued on page 3 UCN XLAA April Front Cover.pdf There’s something about a fam-



Auction News 9/12/2022

NAAA President – Continued from page 1 serve our customers. It’s very easy to sit back – with a professional organization, a homeowner’s association or your kids’ sporting program or school – and talk about what works and what needs to be improved. “But this is a member-driven organization where involvement has to happen by its members for the organization to move forward. Everyone should look to play a part. I just happen to serve on the Executive Committee with others. But there are a lot of others beside me that are serving. It’s not about me being president, it’s about everyone else driving NAAA. That’s what it’s about. Getting involved, being a part of it and building the strategy, moving forward to continue to serve our customers. UCN: What do you enjoy best about serving in NAAA? Hudkins: When you sit on these

committees, there’s very clearly mutual respect, mutual admiration, fun and competition. But everyone wants to improve the association for our customers. We all share that. We’ve seen this in a lot of the work started with (past president) Laura Taylor, then Julie Picard, continued by Charles Nichols and now me. There’s a continuity that’s put in place where we build a plan and move the NAAA forward. That’s what it’s about. If you’re not a people-person in this business, you’re probably in the wrong business. Everybody wants to be part of it and they want to continue to keep the NAAA at the highest standard, the gold standard of the remarketing industry.

Photo Courtesy of NAAA TEAM: NAAA incoming President Garrison Hudkins, (from left), NAAA CEO Tricia Heon, President-elect Eric Autenrieth, Chairman Charles Nichols, and incoming chapter presidents Emily Barber, Brandon Thompson, Billy Willis and (not pictured) Nicole Graham.

lenge, but training and development once you get them in the front door UCN: What are the biggest chal- is important. There’s a lot of things lenges for auto auctions and the we can do as an association to train industry today? and develop. Hudkins: Not only is hiring a chalTo get even more granular than

that, let’s talk about training techs for the potential onslaught of electric vehicles (EVs) moving forward. To stick with EVs, what kind of infrastructure needs to be developed Continued on page 6

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NAAA Preview 9/12/2022

Nichols Looks Back at Past Year in Leadership By Jeffrey Bellant

As Charles Nichols was closing out his term as National Auto Auction Association president this month, he spoke about his time at the helm and the future of NAAA. “The year has been great,” he said. “It’s been great working with President-elect Garrison Hudkins. We’ve had an incredible ride. “We’ve probably visited 36 or 37 locations this year. It’s been fantastic to see all of the members and learn about what’s going on around our great industry.” It was a big change from Nichols’ year as president-elect where everything was Microsoft Teams meetings. As the country opened up, it gave Nichols and Hudkins a chance to go at “a robust pace,” including a recent NAAA board meeting in Nashville during the International Automotive Remarketers Alliance Summer

Roundtable event. “While there certainly were a number of challenges throughout the year, we managed to do pretty well as an industry,” Nichols said. “Everybody’s working hard together.” One big change this year was NAAA holding its spring meeting in conjunction with the National Automobile Dealers Association’s convention. “I was very excited about this event,” Nichols said. “It was something we tried that was brand new.” He also was proud about how the board worked to further the goals of the association, even if the leaders were from competing auctions. Nichols, president of Bel Air Auto Auction in Bel Camp, Md., said he and Hudkins share something in addition to leading the NAAA. “Bel Air had its 75th anniversary this year and Southern Auto Auction had its 75th anniversary, too,” Nich-

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1 The tradename Subaru Motors Finance (SMF) and the Subaru logo are owned by Subaru of America, Inc. (Subaru) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase.

The tradename Maserati Capital USA and the Maserati logo are owned by Maserati North America, Inc. (Maserati) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase. 2

3 The tradename Aston Martin Financial Services and the Aston Martin logo are owned by Aston Martin Lagonda of North America Inc. (Aston Martin) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase. 4 The tradenames Jaguar Financial Group and Land Rover Group and their respective logos are owned by Jaguar Land Rover North America, LLC (JLR) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase.

Neither JPMorgan Chase Bank, N.A. nor any of its affiliates are affiliated with ADESA, Inc. or Manheim, Inc. Each auction is solely responsible for their website content, sales events, promotions, fulfillment and operation of the auction. Dealer communication only; not intended for retail purchaser. ©2021 JPMorgan Chase Bank, N.A. Member FDIC

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ols said. “So, that’s really cool.” He praised Southern as a “highperforming auction.” Nichols said during the past few years – not just during his term – NAAA has faced challenges and opportunities. But he praised the work of the entire NAAA team. “First and foremost, we want to send our congratulations to Tricia Heon, who has wrapped up her first year (as chief executive officer of NAAA) and we’re most excited about the headway we’re making,” Nichols said. “We’re here to give back to our members and that’s what we’re excited about.” Nichols said he can’t say enough about Heon’s performance, the way NAAA has worked to communicate with its members and its leaders, along with the effort of its volunteers. “It’s all about the hard effort all the way down the line,” he said. “I want to thank our executive committee and our board of directors. “We wanted to make sure we engaged early on, both Garrison and I, so that we were communicating at a very high level and working with Julie (Picard) outgoing chairman. “Personally, we had a lot of fun.” Nichols said he was fortunate with his travel schedule not to have missed too many of Bel Air’s sales. “But everybody stepped up and did their part,” Nichols said. “We have a great team at Bel Air Auto Auction.” The visits to member auctions across the country were critical, as well as working with Eric Autenrieth, general manager of Carolina Auto Auction, who will serve as president-elect when Hudkins takes the reins, Nichols said. Nichols said as the industry has moved out of the pandemic, he’s been able to reflect on how the association and its members continue to persevere. “I got to tell you, this is one resilient industry,” Nichols said. “The used cars fuel the market a ton. We’re most excited about being in this space. We have a lot of technology at these auction facilities across the country. We have brick and mortar that support independent and new-car stores. “We don’t talk about it a lot. But I think we should be very proud about where our industry is and what it’s done throughout these recent challenges.”

Volume 28 | No.8 Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at : Used Car News P.O. Box 80800 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 Emeritus Colleen Fitzgerald, Publisher Editorial: Jeffrey Bellant, Managing Editor Ed Fitzgerald, Staff Writer Advertising: Shannon Colby, Account Manager Tony Moorby Columnist: Circulation: subs@usedcarnews.com Production: Tom Savage, Production Manager Cee Lippens, Web Master Used Car News is published every third week. Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction ads. Most lists are partial and all lists are subject to last minute changes by auto auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of any advertisements. All Rights Reserved. Reproduction in any form is prohibited without the written consent of the publisher. OUR ADVERTISING APPROVAL POLICY Payments from first time advertisers must accompany the insertion order. Distribution is guaranteed by the USPS. The advertising reservation deadline is 12:00 noon Thursday, 11 days prior to the issue cover date. Ad materials are due by 5 pm Friday, 10 days prior to issue cover date. For advertising specifications please email colleen@usedcarnews.com.

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State News 9/12/2022

Michigan Honors Dealer

Photo by Jeffrey Bellant THE LAW WON: Vince Law (center), owner of Law Auto Sales in Wayne, Mich., receives the Michigan Quality Dealer of the Year award. He is pictured with Annette Chapman, executive director of the Michigan IADA and dealer Otto Hahne, the group’s president. By Jeffrey Bellant

SHELBY TOWNSHIP, Mich. – Vince Law received the 2022 Michigan Quality Dealer of the Year award during the Michigan Independent Automobile Dealers Association’s annual golf outing here in August. Otto Hahne, Michigan IADA president, announced the award at the Cherry Creek Golf Club. “Our winner this year has held every position on our board, from treasurer all the way up to president,” Hahne said. “This is pretty humbling and I appreciate it,” Law said. “I accept this award from a great association. I’m not accepting it individually but on behalf of our dealership, where we have a great team.” Law Auto Sales started as a small used car lot in 1938 as Law and Kowalk. Francis Law started the lot with Frank Kowalk. The partnership split and Law moved his lot and renamed it Law Auto Sales. His sons, including Vince, grew up and started their own car stores, Hahne said. Eventually, two of the brothers retired and Vince relocated and incorporated Law Auto Sales in Wayne, Mich., just southwest of Detroit. The dealership is now a state-ofthe art facility with annual sales approaching $12 million. Law said he started out “young and ambitious,” and wanted to grow the business. But finance companies and warranty companies didn’t want to work with independents.

So, Law got together with Maurice Vancoillie, Harold Redford and other independents at the time. They worked together on behalf of dealers and began lobbying lawmakers through the association to make a difference. He tries to do the same in his store. Law said a friend once called him who had a nephew with no father in his life. “He was low in self-esteem, no self-confidence,” Law said. “We hired him as a porter. He’s been loyal to us. We’re loyal to him. “Well, he sold 269 cars last year.” Law said another time, he hired a 16-year-old girl – a “timid young lady.” Her mom wanted a job for her and the girl’s dream was to be a school teacher. “We gave her a job, stuck with her, helped her study by giving her time off to pursue her dream,” Law said. “She worked for us for seven years and got her degree from Eastern Michigan University.” That woman later acquired her master’s degree and now teaches second grade in Livonia, Mich. “She still comes back and works with us in the summer,” Law said. He told a third story and choked up when he started it. The dealership hired a 50-year-old man as a salesman 30 years ago. When he turned 80, people told Law he had to replace him with a younger, more aggressive salesman, “But he was loyal to us,” Law said, who kept him on. “He just passed away in November. He was getting Continued on page 6

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ready for work when he passed away. “We gave him dignity; we got his loyalty and that’s how we deal with people.” Hahne, who presented Law with the award, was a past winner of the honor and went on to win the 2019 National Quality Dealer of the Year. “The award gets you a lot of benefits,” he said. Hahne and past winners market the award, gaining their businesses more credibility. But you can’t win if you don’t apply for the award, he said.

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The association looks for successful operators who have a strong team, with great customer service and those who serve the industry. Law said the award is a nice acknowledgement for him and his team. The dealership has persevered by doing the fundamentals, treating employees and customers with respect and giving everyone a fair shake, he said. “It feels great when a customer walks through the door and says, ‘I won’t buy a car anywhere else,’” Law said.

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to support the life cycles of these vehicles? How can we be prepared as an association and industry for when these vehicles start to show up. Advocacy also is a big part of it. In terms of the economy, the central theme I hear from many NAAA auctions is that they are playing the long game. They’re investing in their businesses now to be ready when volumes do come back – and they will come back. They are investing in their people and their technology. They’re investing in their process and their infrastructure to be ready. So, what do you do? You invest. You invest in your people and you invest in your customers.

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UCN: Terms go by so fast, what are your goals for your term? Hudkins: My goals are the goals that the board has set. We had a fantastic strategic planning session in January where the board collectively laid out what we want to accomplish. It was built on the work that Laura, Julie and Charles started, that I agree with 100%. This is not a game of Whack-aMole. It’s a long game. What will never change is providing trust, transparency and fidelity to the remarketing industry. Some of the specific goals address safety, communication, privacy and EVs. I’m really proud of our leadership development program. It’s called Lead University and it provides training about skills, maximized performance and productivity. You’ll see a lot of this in the content of the NAAA convention. There’s a lot of kudos that should

go to the team in Frederick, Md. (NAAA headquarters). Education is going to be a central theme. UCN: How do you encourage fellow auction GMs and NAAA members to get involved and serve? Hudkins: I think at its core, if you build it, they will come. You have to present a path to the membership showing why involvement works and why being part of the solutions for our customers is good for you, good for our customer and good for your business. It’s rewarding. Every time we meet someone as we travel around the country, we share some ideas and they all say, “How do I get involved?” So, we’ve added people to committees and to regional chapter boards. If someone has a passion for something, we have to get them involved. If they have a legislative bill in their state that is a headache, then we’ll say, “Let’s get you on the legislative committee, so you can be part of the solution.” That’s how it’s going to happen. We have a lot of people who are not afraid to tell me what’s wrong or how something needs to be improved. My response is, “Why don’t you get involved? Don’t sit on the sidelines. Get involved.” I’m not afraid to say that to someone. UCN: Anything else you would like to say that I haven’t asked? Hudkins: I think there’s a lot of great content at the convention in Dallas. It’s the most relevant contemporary content that I’ve seen at any conference in this entire space. I think there’s going to be a lot of excitement coming out of that conference.



Retail Markets 9/12/2022 Compiled by Ed Fitzgerald

INDIANA

Victor Figlin, owner, Indy Auto Man, Indianapolis, Ind. “This September we will have been in business 14 years. “During COVID the state of Indiana let us stay open. Everyone wanted to do everything online. People are definitely open to doing at least some of the transaction online. “We are now trying to keep 280 cars on the lot. It is hard to find inventory. Right now, we’re selling about 130 a month. “We sell about 60 percent sedans and 40 percent trucks/SUVs. “Right now, it’s shifted to us selling more domestics than imports. The domestics are more in the price range of what people can afford. “We’re doing the auctions online. We were doing that

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even before COVID. We use Manheim, Autotrader and others. “We don’t do any buy-here, pay-here. Zero. “I’d say our customers give us an average down payment of $1,000 over 72 months. “We spend an average of $1,100 on reconditioning a vehicle. We do the work ourselves unless it’s labor intensive and then we sublet it out. “We like to get cars that are 5 years old or newer, but we don’t mind if it’s 10 years or newer. We like to have them at around 70,000 miles. “I recommend dealers get involved in their association, especially a 20 Group. “We were a sponsor for the Indy Arts Fest last year over Labor Day. The festival included live mural painting, live car painting and artist demonstrations. “The last car I sold was

a 2018 Honda Accord with and then they own the car. 30,000 miles for $28,000.” That’s the formula for our success. “I went to a conference TEXAS Jerry Smith, owner, HJ once and there was a guy Smith Automobiles, Hurst, speaking who told us it doesn’t make any difference Texas “I’ve been in business 52 what your terms are, the years. I started with my dad customer is only satisfied when I got out of school. with the car for 22 months. “We do business with secWe’ve been at this location ondand third-generations for 40 years. “We went into COVID of families. Sixty-five perwith a good inventory. We cent of our business is reusually keep about 100 cars, peat. “I keep payment cards. I but I had stocked up because it was tax time. So, we had have the software too, but I about 125 cars on the lot. A don’t type well so I use the lot of dealers weren’t pre- cards. I can write converpared for it. We actually had sations on there. The payments are in black or blue three record-high months. “We sell about 15-20 cars (ink), but the conversations a month on average, close to are in red. We get a guy who 300 a year. I’m not looking to comes in and says, ‘I bought a car from you 15 years ago,’ expand, I’m comfortable. “We are 99 percent buy- and I can pull his card. “I’ve had people tell me here, pay-here. We’ve never they use GPS and starter insold the paper. But we offer 0% interest for 18 months terrupts because they want

to ‘train’ their customers to make their payments. But what I’ve found is that people keep the same spending habits no matter what. I’m not going to train them. I have very few repossessions. “They asked me at the conference how many of my sales are delinquent. I said ‘hell, all of them are delinquent at least a day or two.’ Sometimes the 18-month note might end up going 20 months, but at the end it’s still a success story. “I spend an average of $350 to $400 on reconditioning. I’ve got three bays and four lifts. “We had to move up the mileage of the cars to sell in our price range, which is under $10,000. “I just sold an ’08 Mustang, with 185,000 miles for $8,995. This was a repeat, I bet we’ve sold that family five cars.”


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Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information. The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. The Land Rover word mark, the Land Rover and Oval logo, and Land Rover Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Maserati Capital USA, the Maserati logo and model designations are registered trademarks used by JPMorgan Chase Bank, N.A. (“Chase”) under license from Maserati S.p.A. The tradename “Aston Martin Financial Services” and the Aston Martin logo are owned by Aston Martin Lagonda Limited and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Neither JPMorgan Chase Bank, N.A. (“Chase”) nor any of its affiliates are affiliated with ADESA, Inc. or Manheim, Inc. Each auction is solely responsible for their website content, sales events, promotions, fulfillment and operation of the auction. ©2022 JPMorgan Chase Bank, N.A. Member FDIC (22-0010) 10/22


Wholesale Markets 9/12/2022 Compiled by Jeffrey Bellant

NEW MEXICO Ray Vickers, general manager, Farmington Auto Auction, Farmington, N.M. “We’ve been in business since 1994. This November we’ll have our 28th anniversary sale. “We have two lanes. Volumes have been average, recently. We’ve been running between 60 and 100. “Sales percentages had gotten up to 75%, but things have fallen off a bit – to 50% or 55%. “Volumes are mostly newcar trades, though we do have a few repos, about 10%. “We use Fastlane for our online sales. “It’s gotten a little tougher over the last month. You used to be able to predict what would happen seasonally, but we’re in uncharted waters now.

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“For independent dealers, it’s gotten quiet. It’s the time of the year, with kids getting ready to go back to school. But I think the money is tightening up. “We have a GSA sale monthly. We had 96 in July, and Sept. 6th will be about 40. I think it will grow in the fall. I’m expecting a lot of cars. These are mostly trucks, vans and utility trucks. We do get sedans and SUVs. It’s a good mix. “I don’t see where the gas prices have hurt the trucks. “There’s still a shortage of good used cars. All the dealers still need good clean cars. “Our average price across the block is $6,000. “I think going into the fall we’re still going to have a tax season. But we’ve never been in a situation like this before where we’ve dumped so much money on the street. Now all that money is gone.

“I’ve talked to some of our repo (sources) and they say it is going to be a bloodbath in September. They said the repos are going to be heavy.”

TEXAS

Wayne Cook, president, Greater Tyler Auto Auction, Tyler, Texas “Me and my business partner Royce Williams opened the auction in April 2001. We have four lanes and we’re currently running three. “At our Aug. 23 sale we ran between 200 and 240. (Prepandemic) that number would be between 350 and 400. “(Conversion rates) are in the low to mid-50s. It ain’t been that long ago, at the beginning of the pandemic we’d have a 75% or 80% sale. “You got to remember, through 2020, 2021 and 2022, auto production has been off 4 million-6 million

cars per year. So, cars are getting ‘mileier,’ – people are driving them longer. Also, when people trade them in, they ‘need’ to trade them in. “New cars are selling above window sticker – and the window sticker prices themselves have been going up. “There’s going to be a reckoning day on that. “At some point, you know, you’re going to have people – who in the past would normally trade every so often – will now be so far upside down, the question is will they even be able to trade for a new car? “The market is adjusting somewhat and it’s starting to go down. “But some models have crashed. I don’t know that you could even get rid of a dang Ford Expedition, hardly. Three-quarter-diesels have also taken a pretty good

hit. Also, what we were getting for some of those nearly new one-ton trucks are even coming down some. “On the retail side, business has slowed up a little bit since the 4th of July. That’s probably a little bit normal. “With our consignment, we get a few repos. But most are dealer consignment. “I think the average cost across the block here is close to $7,500 or $7,800. It was probably in the mid-$5,000s before the pandemic. “We have GSA in a separate sale. “In terms of the market, from guys I talk to, I don’t see much change in (newcar inventory) until the third quarter next year. “I think we’ll be fine, though. People in this business react pretty well to the market. People will just have to watch their expenses to make it.”


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Wholesale Numbers 9/12/2022 seg/type ---------Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck Car Car Car Car Car Car Car Car Car Car Truck Truck Truck Truck Truck Truck Truck Truck Truck

make/model/name ---------- ---------Toyota Camry Honda Civic Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Mustang Ford Fusion Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Toyota RAV4 Ram 1500 Jeep Grand Cherokee Honda CR-V Chevrolet Equinox Ford Explorer Toyota Tacoma Ford Escape Toyota Camry Honda Civic Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Mustang Ford Fusion Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Toyota RAV4 Ram 1500 Jeep Grand Cherokee Honda CR-V Chevrolet Equinox Ford Explorer Toyota Tacoma Ford Escape Toyota Camry Honda Civic Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Mustang Ford Fusion Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Toyota RAV4 Jeep Grand Cherokee Honda CR-V Chevrolet Equinox Ford Explorer Toyota Tacoma Ford Escape Toyota Camry Honda Civic Toyota Corolla Nissan Altima Chevrolet Malibu Nissan Sentra Hyundai Elantra Ford Mustang Ford Fusion Hyundai Sonata Ford F150 Chevrolet Silverado 1500 Toyota RAV4 Jeep Grand Cherokee Honda CR-V Chevrolet Equinox Ford Explorer Toyota Tacoma Ford Escape

2021-09-01 ---------14200 13550 12450 12025 14225 11250 11400 20350 13750 12900 29000 31500 17575 27500 22350 20900 14600 22675 29050 13675 17850 15300 14750 14525 16175 13200 13150 21625 16300 15475 33800 34500 20225 31500 24425 22750 18950 25150 30775 16325 18825 17050 16850 18600 18150 15650 14600 23725 18250 17675 36500 38500 23875 26975 25325 20425 27950 33025 18900 20750 19000 18300 20025 19650 18250 16200 25175 20150 21225 40200 41500 25425 31575 26850 22150 33075 35200 23000

2022-03-01 ---------15825 15250 14275 13150 15100 12050 12150 19200 15275 13275 29100 31000 19375 28200 22900 22525 15400 24000 30350 14275 20150 17150 16325 15850 17725 14575 14450 21125 18350 17125 32000 35200 22300 32000 25625 25075 20300 26700 33150 17875 22075 19000 18450 20300 20000 17450 16800 23625 19950 19775 36900 39500 25900 28375 28000 22050 28775 34950 20400 24500 21000 20500 22250 22200 20225 19075 25400 22475 23900 40000 42700 28625 32425 30800 24875 33775 36825 24675

2022-09-01 ---------15850 15450 14175 12225 13775 11100 12200 17325 14175 12900 27200 29250 18325 25200 21050 21425 14050 20800 28175 13300 19075 17750 16075 14875 16050 13975 14400 19175 16900 15625 29700 32250 20175 28500 24625 22925 16700 25225 30450 16175 21700 19200 18350 19450 18675 17900 17000 22025 18850 18825 34700 34500 24750 27300 25250 18550 27700 33375 19300 23775 21950 21250 21825 21525 19825 19325 23950 21025 20900 38500 39950 27750 30925 27875 20425 31425 36650 22875

2023-09-01 ---------12225 11550 11050 9100 10025 8000 8625 13475 10600 9925 22750 24675 14750 20875 15975 17125 10475 16225 25025 10025 14650 13325 12550 11125 11825 10175 10100 15100 12600 11875 25325 27375 16525 23525 18575 18975 12700 19750 27150 12100 16675 14550 14325 14050 13850 12875 12325 17250 14200 14225 29625 29250 20050 21075 20650 14400 22350 29700 14675 18350 16725 16775 15975 15900 15000 14375 19375 16050 16175 33400 34075 22600 24425 23200 16250 26150 32525 17825

2024-09-01 ---------10125 9325 9100 7300 7775 6325 6500 11300 8525 8175 19450 21175 12575 17925 12625 14575 8200 13250 22900 8200 12150 10775 10350 8850 9175 7900 7625 12775 10075 9675 22100 23600 14175 20250 14625 16275 10075 16175 24925 9850 13825 12000 11775 11100 10925 9850 9300 14500 11475 11500 25850 25575 17375 16925 17875 11650 18725 27225 11975 15300 13850 13975 12625 12650 12175 11050 16800 13100 13350 29575 29750 19675 19950 20250 13475 22475 29725 14900

Actual Wholesale and Projected Residual Values

MY -----2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

Source: Black Book



Disconnected Jottings From

Tony Moorby 9/12/2022

Tony Moorby As a manager of a large company at one time, I’ve led many meetings and attended more conventions than most people have had hot dinners! I always remarked that the success of a meeting is often gauged by how easily things are organized and how smoothly run they appear. The fact is that the ease for attendees is in inverse proportion to the amount of work that goes into the mix, sometimes months or years in advance. For conventions, much is achieved by volunteers, committee members or specialists but someone still has to have the vision and organizational capacity to orchestrate the efforts. The National Auto Auction Association convention is an ideal example of the successful herding of hundreds of cats by an extremely proficient staff at headquarters.

Some associations employ the services of an outside consultant or company – the International Automotive Remarketers Alliance who just held their Summer Roundtable here in Nashville, is such an organization. Kim Glasscock has been responsible for their meeting planning, through her own company, for years and a great job she’s done, too. This last effort for the IARA set all kinds of new standards for attendance, content and attractions, my spies tell me. Unfortunately I was unable to attend as I was out of town. I’ve known Kim for donkeys’ years; we were colleagues at Anglo American Auto Auctions, later ADT Automotive where she grew through the administrative ranks, helping to give a backbone to a growing or-

ganization. Reliability and creativity were personal resources that came to the fore and she took on the role of Meetings Manager, not only at the disposal of the office but as a resource for any company member. Our company was renowned for the Client Advisory Board meetings, taking place twice a year; one at the Long Beach Grand Prix, and the fall meeting was always held at a resort, typically in the East or Midwest. Seamless organization ensured that events took place without attendees or presenters looking over their shoulders. You know that allusion about a duck gracefully gliding around the pond while her webbed feet were scrambling like crazy under the water? That’s the one that fits to a tee. Her experience led to the development of terrific ne-

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assuring the best services were made available and to make certain the Association’s look and feel is first class. That comes with managers who can sense what’s right and what won’t fit. Experience comes with time and is a most valuable asset.

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Solution to this puzzle in the 10/3/2022 issue. Call 1.800.794.0760 for a FREE subscription.

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

Play Online at Us e d C a r N e ws. co m

By Myles Mellor

37. Vue and Aura, for 7. Brand bought by BMW example in 1994 39. Site for valuations, 3 10. Compass point, abbr. words

• 50-year veteran of the industry • President from 1997– 2000 of ADT Automotive • Served as ADESA’s executive vice president of sales and marketing • Moorby & Associates 2006–present • NAAA Hall of Famer • IARA Circle of Excellence

gotiating skills, paired with the protection of a junkyard dog. I can tell a (long) story about being kicked out of the Southampton Princess hotel in Bermuda during an NAAA meeting – my then two-year-old daughter removed her bathing suit following a dip in the pool. It was an action considered lewd and following a verbal altercation in the lobby our family was asked to leave. (The Marriott put us up in their Presidential Suite!) Two years later, Kim refused to conduct any meetings at their hotels. Offers came, better offers were made, bend-over-backward, never-again offers were made. We finally held our annual General Managers’ Meeting in their flagship hotel in Acapulco at less than half price for everything! Tony Long’s dedication to the IARA was secured by

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Solution to the 8/22/2022 puzzle