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March 6, 2017

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Lexus, Porsche Top Dependability Rankings

LEXUS REX: The Lexus GS ranks as the most dependable midsize premium car after three years, according to J.D. Power. Lexus also earned honors for its ES in the compact premium car category and its RX in midsize premium SUV category.

Rush - Dated Material

Lexus and Porsche reign again as the most dependable brands in the market. The luxury marques were tied atop the J.D. Power 2017 Vehicle Dependability Study. The study, now in its 28th year, examines problems experienced during the past 12 months by original owners of 2014 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score relecting higher quality. The study covers 177 speciic problems grouped into eight major vehicle categories. The study inds that the 10 top-

selling 2014 model-year vehicles average 134 PP100, which is signiicantly better than the industry average of 156 PP100. Two perennial best sellers — the Ford F-150 and the Toyota Camry — also lead their segments in the VDS this year. “We ind buyers are increasingly avoiding models with poor reputations for dependability, so manufacturers can’t aford to let quality slip, particularly on their best sellers,” said Dave Sargent, vice president of global automotive at J.D. Power. “While many expensive and niche vehicles do have excellent quality, the fact is that most consumers are shopping in the high-volume main-

stream segments. The good news is that consumers don’t have to spend a lot of money to get a very dependable vehicle.” In addition to impacting purchase decisions and brand loyalty, better long-term quality is a key factor in contributing to higher residual values for vehicles. For example, J.D. Power estimates that Toyota – the highest-ranked non-premium brand in the study – has a residual values beneit of more than $750 per vehicle, compared with the average brand. This translates into a beneit of more than $1.3 billion for the 2014 model year alone.

“In the current industry environment of record levels of leasing and long-term loans, higher residual values allow automakers to provide more competitive deals to buyers,” said Jonathan Banks, vice president of vehicle analysis and analytics at J.D. Power. “This creates the opportunity to achieve higher market share and/or elevated proit margins.” Lexus and Porsche tied to rank highest in vehicle dependability among all nameplates, with a score of 110 PP100. This is the sixth consecutive year Lexus topped the nameplate rankings. Continued on page 3


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USED CAR NEWS

March 6, 2017 • 3

Vehicle Dependability Study – from page 1 Toyota (123 PP100) follows in the rankings, moving up one position from 2016. Following Toyota in the rankings are Buick (126 PP100) and Mercedes-Benz (131 PP100). Hyundai (133 PP100) is the most improved nameplate in the study, improving by 25 PP100 from 2016. At sixth position (up from 19th in 2016), this is Hyundai’s best ever ranking in the VDS. “Hyundai’s dedication to product quality is a foundational part of our overall strategy,” said Barry Ratzlaf, vice president of customer satisfaction for Hyundai Motor America. “The Vehicle Dependability Study ranking demonstrates our continuous efort to be better.” Other notable improvements include Dodge and Ford, which both improved by 21 PP100 from 2016, and Land Rover, which improved by 20 PP100. Toyota Motor Corp. models received 10 of the 18

segment awards, representing the highest number of awards ever received by an individual corporation in the study. The Toyota Camry has the lowest PP100 score industry-wide. General Motors models received four segment awards. Other models receiving segment awards in the study were the Ford F-150, Honda Ridgeline, Mercedes-Benz GLK-Class and Volkswagen Tiguan. There was some bad news for the industry. Continuing increases in technology-related problems contributed to overall dependability worsening for a second consecutive year. The industry average of 156 PP100 increased from 152 PP100 in 2016. The audio/communication/entertainment/navigation category continues to be the most problematic area, accounting for 22 percent of all problems reported, up from 20 percent last year. For a third consecutive

ADD IT UP: The Porsche Cayenne earns third place among midsize premium SUVs in the J.D. Power Vehicle Dependability Study. None of the luxury brand’s models finished first in their categories, but Porsche had enough top three placements to tie with Lexus as the most dependable brand.

year, Bluetooth pairing/connectivity issues and built-in voice recognition misinterpreting commands were the most reported problems. New to the top 10 list of problems reported in 2017 is battery failure. In fact, 44 percent more

owners reported a battery failure this year than in 2016. Batteries are the most frequently replaced component not related to normal wear and tear in 3-year-old vehicles at 6.1 percent - up from 4.8 percent in 2016.

The 2017 U.S. Vehicle Dependability Study is based on responses from 35,186 original owners of 2014 model-year vehicles after three years of ownership. The study was ielded from October through December 2016.


4 • March 6, 2017

USED CAR NEWS

NEWS BRIEFS KAR Reports Higher Revenue

Texas, Florida, Pennsylvania and KAR Auction Services Inc. report- New York have the most vehicles ed higher revenue, but lower net in- with open recalls. Minivans and SUVs are the ones come in the fourth quarter. For the fourth quarter, KAR re- most likely to have unixed recalls. ported revenue of $813.7 million as compared with revenue of $695.7 million for the fourth quarter of Enterprise Sets Credit Union 2015. Net income for the fourth Finance Record Enterprise Car Sales generated a quarter decreased to $45.5 million, as compared with net income of record $575 million in loan volume $48.3 million in the fourth quarter to more than 31,000 credit union members during 2016. of 2015. The 2016 loan amount represents For the year, the company reported revenue of $3.15 billion as compared a 15 percent increase from the previwith revenue of $2.7 billion for 2015. ous year. Enterprise Car Sales’ record auto Net income for the year increased to loan volume is following the over$2.2 billion, as compared with net all trend of ongoing auto lending income of $214.6 million for 2015. growth in the credit union sector. New reports show credit unions have increased total automotive loan Carfax Warns of Rampant Recalls More than 63 million recalled market share to 19.6 percent, up two vehicles are now in use across the percentage points from a year ago. In addition, used vehicle lending country, a 34 percent increase from ofers increased proit potential for 2016, according to Carfax. The annual research also suggests credit unions, with average used this issue afects nearly one in three vehicle loan amounts reaching a vehicles in Texas, the highest rate in record high of $19,227 in the third quarter of 2016. the nation. Behind Hawaii, the other Gulf Coast states of Mississippi, Louisi- Edmunds Says Lack of Trades Will ana and Alabama round out the top Offset Off-Lease Edmunds predicts that while a ive. In addition, people in California, record number of of-lease vehicles

will ill dealer lots, a declining num- $95.3 million for the fourth quarter ber of older trade-ins will put sig- of 2015. niicant upward pressure on the late Total operating expenses for the model used-car market this year. fourth quarter of 2016 were $95.5 million, an increase from $79.5 milThe average used vehicle trade- lion for the 2015 period. During the in is six-years-old, and Edmunds fourth quarter of 2016, predicts the number of trade-ins CPS purchased $215.3 million in will dip below six million this new contracts compared to $242.1 year for the irst time since 2012. million during the third quarter and In 2016, 38.5 million vehicles were $269.2 million during the fourth sold in the used market, an increase quarter of 2015. of 0.6 percent from 2015. The company’s managed reThanks to the rise in leasing, ceivables totaled $2.3 billion as the average used vehicle sold by of Dec. 31, 2016, an increase from a franchise dealer in 2016 was $2.292 billion as of Sept. 30 and 4.1 years old, setting a new re- $2.031 billion as of Dec. 31, 2015. cord low age and helping push Annualized net charge-ofs for the the average used vehicle transac- fourth quarter of 2016 were 6.97 pertion price up to a record $19,189. cent of the average owned portfolio Sales of certiied pre-owned vehi- as compared to 6.23 percent for the cles hit a new record as well in 2016 fourth quarter of 2015. Delinquen– reaching 2.6 million units and en- cies greater than 30 days (including compassing 22.8 percent of all used repossession inventory) were 10.96 vehicles sold by franchise dealers. percent of the total owned portfolio as of Dec. 31, 2016.

CPS Reports Lower Income, Originations

Consumer Portfolio Services Inc. announced earnings of $7.5 million for the fourth quarter. This compares to net income of $9 million in the fourth quarter of 2015. Revenues for the fourth quarter were $108.2 million, compared to

PAGE 17

Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at 24114 Harper, St. Clair Shores, MI 48080 Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 www.usedcarnews.com Charles M. Thomas - Founder (1947-2002) Lynda R. Thomas, Publisher Colleen Fitzgerald, General Manager Editorial: Ted Craig, Managing Editor Jeffrey Bellant, Staff Writer Contributing Writers: Ed Fitzgerald, Jenny King, Sheila McGrath Advertising: Shannon Colby, Account Manager Marie Hingst, Account Manager

Columnist: Tony Moorby Circulation: Helen Thomas Production: Tom Savage, Production Manager Cee Lippens, Web Master & Graphic Designer

Vol. 22 • No. 22 Used Car News is published the irst and third Monday of each month. Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction ads. Most lists are partial and all lists are subject to last minute changes by auto auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of any advertisements. All Rights Reserved.

Reproduction in any form is prohibited without the written consent of the publisher. OUR ADVERTISING APPROVAL POLICY Payments from irst time advertisers must accompany the insertion order. Distribution is guaranteed by the USPS. he advertising reservation deadline is 12:00 noon hursday, 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 speciications please email colleen@usedcarnews.com.

Join the Conversation! Visit Used Car News online at www.usedcarnews.com or scan this QR code with your smartphone to be taken directly to the website.


USED CAR NEWS

March 6, 2017 • 5

CarMax Adds Operations

L.A. STORY: CarMax workers prep a car for retail. The company recently unveiled its largest multi-purpose facility on the West Coast. The facility, located in Murrieta, Calif., will serve several CarMax stores in the region.

CarMax, Inc., celebrated the grand opening of its Murrieta, Calif., store, the company’s largest multi-purpose location on the West Coast. CarMax Murrieta will serve as a reconditioning hub that will feed inventory to several of the company’s stores in southern California. The location will also house CarMax’s first, and largest, four-lane auction facility on the West Coast. In addition to production and auction services, the 35-acre property has a separate building for selling used cars to the general public. The facility is located at 25560 Madison Avenue and has the capacity to stock up to 400 vehicles at a given time. The opening of this new location has brought more than 250 jobs to Murrieta. “The CarMax Auctions business is continuing to grow and we have been holding two auctions per week at some of our CarMax locations in the Los Angeles region in order to keep up with demand,” said Carlos Raygoza, auction services location general manager of CarMax Murrieta. In celebration of the Murrieta store opening, CarMax donated $5,000 to Michelle’s Place, a local nonprofit organization that supports women and their families with cancer care. CarMax associates recently volunteered with Michelle’s Place and nominated the organization to receive the donation. CarMax also announced that The CarMax Foundation would be providing a $10,000 grant to the Boys & Girls Club in Murrieta to support 100 local underserved youth. CarMax is also awarding a $10,000 grant to the Special Olympics Southern California to help fund sports equipment, coaching materials and transportation of youth athletes. CarMax associates nominated the Boys & Girls Club in Murrieta and Special Olympics Southern Califor-

nia to receive these grants. The CarMax Foundation will also be donating an Imagination Playground valued at more than $15,000 to the Boys & Girls Club of Perris through its partnership with Kaboom to make play more accessible to children and families. Imagination Playgrounds are innovative, loose-parts playgrounds that engage kids in creative play that is physically challenging and collaborative. The Boys & Girls Club of Perris partners with 13 local elementary schools and plans to incorporate the Imagination Playground in educational programming at each of these schools on a rotating basis. CarMax also recently celebrated the grand opening of new store in Mobile, Ala., and Albany. N.Y. The Mobile store is located at 965 East I-65 Service Road South. The Mobile CarMax has the capacity to stock approximately 200 used cars. In celebration of the Mobile store opening, CarMax donated $2,500 to Feeding the Gulf Coast that will provide more than 12,000 meals to those in need along the Central Gulf Coast. CarMax associates recently volunteered with the nonprofit and nominated it to receive the donation after seeing its great work within the community. The CarMax Foundation is also providing a $5,000 grant to the Boys & Girls Clubs of South Alabama. The Albany CarMax has the capacity to stock approximately 200 used vehicles. In celebration of the Albany store opening, CarMax donated $2,500 to the Regional Food Bank of Northeastern New York. CarMax associates recently volunteered with the nonprofit and nominated it to receive the donation after seeing its work within the community. The CarMax Foundation is also providing a $5,000 grant to the Boys & Girls Club of Albany.


6 • March 6, 2017

USED CAR NEWS

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The Michigan Secretary of State has suspended the license of Miller Used Cars in Flint after an investigation with area law enforcement found multiple violations including the alleged illegal sale of temporary vehicle registrations. The investigation began after the Michigan State Police informed the Secretary of State’s Oice of numerous traic stops involving vehicles displaying temporary registrations, often called paper plates, allegedly issued by the Flint dealership. The drivers of the vehicles each provided statements indicat-

ing the temporary registrations had been purchased illegally and were also unable to provide suicient vehicle purchase documentation. Secretary of State investigators conducted an inspection of Miller Used Cars, with assistance from the Genesee Area Investigations Network. Upon inspection, investigators found that dealership staf could not provide requested records, could only account for seven of 385 temporary registrations purchased, and could not account for more than 60 vehicles, even though they had the vehicle titles in possession.

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8 • March 6, 2017

USED CAR NEWS

DEALERSHIP OF THE PAST LESS TECH, LESS REGULATION MADE PAST A MIXED BAG By Jeffrey Bellant

For used-car dealers who have been in business for a while, the past was both good and bad. South Carolina dealer Billy Threadgill, president of the National Independent Automobile Dealers Association, said starting out was much easier when he became a dealer 40 years ago. Back in the 1970s, a dealer didn’t even need a bond. They could start with a dealer license, a lot and some insurance. “That’s probably the extent of it,” he said. “Today you will work harder for less money and most dealerships today start out under-capitalized.” He said a low-end car lot — without loor-planner backing — would probably require a minimum $100,000 in capital. Back in the 1970s, Threadgill’s father started the business with a $15,000 mortgage.

could easily get dealer trades by visiting franchise stores late in the evening or irst thing in the morning. Smith would ask about any trades and the used-car manager would have several cars in the back and throw him the keys. “Now, they either take them to the auction or they’d have a wholesale entity han-

Acquiring inventory in the past had both advantages and disadvantages. Jerry Smith, co-owner with his dad of H.L. Smith Automobiles in Hurst, Texas, started in 1971. When Smith started, he

dle it,” Smith said. “Back in the 1970s or ‘80s, I could actually test-drive the car and do an appraisal and condition report myself. “Now when you buy and can’t test-drive them, you’re going to get some surprises.”

LOOKING BACK: National Independent Automobile Dealers Association President Billy Threadgill (above standing), and Texas dealer Jerry Smith (below), said there were both good and bad aspects of doing business 40 years ago. Smith holds up one of his early print ads.

But for Threadgill, acquiring inventory meant living on the road. “I stayed on the road continually to buy cars,” he said. “I’d leave my house on Sunday and head to South Florida. I wouldn’t come home until Thursday night. “I was also the truck driver. I brought them home. I’d go from Florence to Miami twice a week and be back on Friday to work.” But life was cheaper then, too. Threadgill said he could take $100 to pay for all his fuel and most of his motel expense. Once it came to writing up a car deal, there was paperwork – lots of paperwork. “I used to have to type or handwrite (the deal),” Threadgill said. “Minimum, it was an hour to do it, if you had all the docs available to type up. Today, it may take you ive minutes to enter the information and ive minutes to run your docs.” Most dealers would use handwritten cards to track payments and delinquencies. Threadgill used account cards set up by due date in a ile system. When a customer came in and paid, he’d write it down. If they didn’t, you put them in an unpaid account ile. Handwriting was important to make sure the information was clear and correct. Smith said he used pay-

ment cards as long as he could until Texas passed an e-tag law so the dealership had to have a computer to generate it. “But I still use payment cards,” Smith said. “I write conversations in red and payments in black or blue.” Before the internet, print was king and was the main source of advertising for 78-year-old Ed Bass. Bass retired ive years ago from the buy-here, pay-here business, Car Credit Center based in the Chicago area. “I was in the Chicago Tribune, I was in the Chicago Sun-Times, I was in the Herald-American,” Bass said. He later moved into radio, television and, eventually, the internet. Smith said advertising was much cheaper in the past. “Back then, you could do shopper’s guides or the local newspaper ads and they were cheap,” Smith said. “We did things like the Fort Worth Star-Telegram and you’re talking $2 to $3 for a small ad. “In the 1980s, we even did a full-page ad in a little shopper newspaper and it was $500 a week.” Smith prefers the old way of advertising to the internet. For example, he had a vehicle advertised online that generated numerous hits, but sat on his lot for over a year. “If there’s that many peo-

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ple looking at it, why in the hell ain’t somebody buying it?” he said. Recovering cars without starter interrupt or GPS devices made parts of the job more tedious. Without GPS, Threadgill and Smith worked the customer application and contact sheet to ind the car through references, etc. “Or you call them and tell them they won a free pizza, and get the address,” Smith said. However, when Smith was forced to get a computer for e-tags, he also made the move to GPS units and realized how much easier it is. “I’m telling you, I would never go back,” he said. Regulations were not a problem decades ago “I wasn’t worried when I came in to work that the CFPB (Consumer Financial Protection Bureau), the FTC (Federal Trade Commission) – and on and on – would come up to my door over stuf I never thought would be relative to our industry,” Threadgill said. “In 1975, when you did a deal, you had four documents if it was inanced. Today, if you don’t have a ile that’s two inches thick, you’re probably haven’t done something right. “I think it’s much harder today than it was back then.”


10 • March 6, 2017

USED CAR NEWS

Car Buy Raises Eyebrows

Susana Mendoza

CHICAGO (AP) – Illinois Republicans criticized Democratic Comptroller Susana Mendoza recently for spending $32,000 on a used SUV when the state is months behind in paying its bills, an attack her ofice dismissed as an attempt to distract from GOP Gov. Bruce Rauner’s “failure.” The comptroller’s oice, which controls the state checkbook, bought the 2016 Ford Explorer from a central Illinois dealership and paid for it in full in January, shortly after Mendoza took oice, the Chicago Sun-Times irst reported. Illinois GOP Chairman Tim Schneider called the purchase “outrageous,” noting Illinois has $11 billion in overdue bills because of the

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state budget stalemate. That has led to social service agencies and other vendors going unpaid or waiting months to get money that’s owed them. “I don’t think buying a 2016 SUV for the comptroller’s oice is a priority,” Schneider said. “I think that can wait.” Mendoza’s oice said the money came from an administrative fund that’s not used to pay state bills and isn’t related to the bill backlog. Director of Communications Abdon Pallasch said Mendoza has reduced the oice leet from nine to eight vehicles and the SUV replaced a car that was inoperable. He said Rauner has a larger state vehicle leet, and noted state agencies controlled by Rauner have spent $11 million on vehicles over the past two years, not including leases. “The governor’s party’s phony outrage at one purchase of a used car instead of the state’s $11 billion dollar backlog of bills he refuses to address is a transparent attempt to silence the state oice-holder who has been most vocal in holding the governor accountable for his failure to do his job,” Pallasch said. Mendoza has repeatedly blasted Rauner.


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12 • March 6, 2017

USED CAR NEWS

Groups Sue FTC over Recalls

2017

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A coalition of consumer groups iled suit against the Federal Trade Commission over its recent certiied car decision. Consumers for Auto Reliability and Safety (CARS), the Center for Auto Safety, U.S. Public Interest Research Group (PIRG), MASSPIRG, CONNPIRG, and CALPIRG iled a legal case seeking to have an appellate court review and overturn the FTC’s consent orders with General Motors, Lithia Motors and Jim Koons Management Co. The orders settled separate administrative complaint allegations that each touted how rigorously they inspect their cars, yet failed to disclose that some of the used cars they were selling were subject to unrepaired safety recalls. Under the consent orders, which would remain in efect for 20 years, the companies are prohibited from claiming that their used vehicles are safe or have been subject to a rigorous inspection unless they are free of unrepaired safety recalls. The companies also have the option of early disclosure of the existence of the recalls in close proximity to the inspection claims. The proposed orders also would prohibit the companies from misrepresenting material facts about

the safety of used cars they advertise. These proposed orders will also require the companies to inform recent customers, by mail, that their vehicles may have an open recall. The groups say the FTC’s consent order set a de-facto standard for the auto industry that “allows dealers to deceptively advertise cars with dangerous and potentially lethal safety defects that have killed and maimed people.” The groups claim the companies don’t have to perform safety recall repairs for certiication but “merely provide a contradictory, confusing, misleading, disclaimer that the cars ‘may’ be subject to a safety recall.” “We’re optimistic that the court will rein in the FTC’s dangerous and irresponsible abuse of its authority,” said Rosemary Shahan, president of Consumers for Auto Reliability and Safety. “Instead of protecting consumers, the FTC is protecting unscrupulous auto dealers who engage in false and deceptive advertising about the safety of the cars they ofer for sale to the public.” The groups had commented on the orders during the FTC’s public comment period. They also iled follow-up letters.

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USED CAR NEWS

March 6, 2017 • 13

PEOPLE IN THE NEWS Consultancy Announces Promotions TPC Management Co. recently announced a pair of promotions. Penny Wanna has been promoted to

Penny Wanna president of Auction Academy. Wanna has been involved with the academy program since its inception in early 2012 and most recently served as vice president of administration. Wanna will continue as vice president of administration for both TPC Management Co.

and ServNet Auctions. Jiles Wanna has been promoted to the position of vice president of client services. Wanna joined TPC in 2004 and has worked on projects under all three umbrellas of the irm including TPC Consulting & Recruiting, Auction Academy and ServNet Auctions. In 2012 he completed the course requirements to become a Certiied Automotive Remarketer in the program initiated by the International Automotive Remarketers Alliance. Previous to his CAR certiication, he completed the Vehicle Remarketing Industry Certiication through the IARA/ Northwood University program as well as Manheim’s Condition Report Writer Certiication

IAA Names Chief Operating Oficer Insurance Auto Auctions Inc. announced that Tim O’Day has been named the company’s chief operating oicer, reporting to

Manheim Appoints General Managers

Tim O’Day IAA CEO John Kett. O’Day will be responsible for managing the full scope of IAA’s operations across the company’s 173 North American auction locations. In addition, O’Day will head the transportation and logistics teams, client

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delivery team, and the company’s catastrophe team. O’Day joined IAA in September 2015 as senior vice president of inance. Prior to IAA, he worked as chief operating oicer and chief inancial oficer for MedSpeed, a national healthcare transportation and logistics provider. O’Day earned his Bachelor of Science degree in business from Indiana University.

3

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Subaru, the Subaru logo, and Subaru Motors Finance are trademarks of Subaru of America, Inc. (“Subaru”) and any use by Chase Bank USA, N.A. (“Chase USA”) and JPMorgan Chase Bank, N.A. (“Chase”) is under license. Retail / Loan accounts are owned by either Chase or Chase USA and lease accounts are owned by Chase. 2 Jaguar and Land Rover, their respective logos, and the financial group names (Jaguar Financial Group and Land Rover Financial Group) are trademarks of Jaguar and/or Land Rover and any use by Chase is under license. Retail/Loan and lease accounts are owned by Chase. 3 The tradename “Mazda Capital Services” as well as the Mazda and Mazda Capital Services logos are owned by Mazda Motor Corporation or its affiliates and are licensed to Chase. Retail/Loan and lease accounts are owned by Chase. © 2014 JPMorgan Chase Bank, N.A. Member FDIC. All rights reserved. (14-221) 06/14

Manheim announced general manager changes at ive locations. Jason Blake takes over at Manheim St. Louis. Blake has served in a variety of roles at Manheim for 21 years and has worked at six locations. Most recently, he was an assistant general manager at Manheim St. Louis.

Victor Ferlaino takes over at Manheim Kansas City. Ferlaino has 18 years of Manheim experience in a variety of roles including ive years as general manager at Manheim Cincinnati and leadership positions at Manheim Detroit. For the past ive years, he has worked at Manheim St. Louis. Scott Maybee takes over at Manheim Northstar. Maybee joins the Manheim Northstar team from his most recent position as vice president of operations for Nissan Canada Finance. He was also director of inancial products and marketing for Nissan Motor Acceptance Corp. Ray Priest takes over at Manheim Denver. Priest has held a variety of leadership positions at Manheim during his 16-year tenure. Most

recently, he was general manager of Manheim Seattle. Tom Saldutte takes over at Manheim Milwaukee. Saldutte has 29 years at Manheim, most recently as the assistant general manager at Manheim Milwaukee.

Exeter Taps Financial Chief Exeter Finance Corp. announced the appointment of company veteran Brad Nall to chief inancial oicer. Nall joined Exeter in July 2012 and has over 25 years of experience in the consumer inance industry. Prior to Exeter, he spent 12 years at Citi’s auto inance and personal loan businesses in various inance roles. Nall received his bachelor’s degree in inance from Southern Illinois University.


14 • March 6, 2017

USED CAR NEWS

RETAIL MARKETS LOUISIANA Kevin Reeves, owner, Dixieland Autoplex, Baton Rouge, La.: “Dixieland opened in 1995. I became the majority partner in 2003. We have two locations across the street from each other. There was someone who was at the bigger location and he was retiring. He wanted to sell the property and made an ofer I couldn’t refuse. My intention was to move everything from one side to the other. I just haven’t shut the other one down yet. “I average about 35 to 40 vehicles per lot. (As of midFebruary), we have probably 120 total. We’re in peak season, so you have to be ready. “I get most of my vehicles from auctions, I do have a few franchise dealers that I buy directly from. For auctions, I go to Louisiana’s 1st Choice in Hammond, ABC-Baton Rouge and I go to Oak View Auto Auction. I like to stay close to the lot, because getting on the road

will wear you out. “We average about 30 (sold) per month and the old side will sell about 20 per month. “When I started in the business in the mid- to late ‘90s, I did a lot of buyhere, pay-here. Then I got away from it. Right now, 25 to 30 percent is buy-here, pay-here but we’re moving toward it more and more. Probably about 50 percent of deals that are sent out are subprime. “We try to get a minimum $1,500 to $2,000 down payment. When you start taking $800 down, they’re not committed to the car. They have to be partnered up with me. “Average term length is 24 to 36 months. “We use GPS. But we don’t want to pick up the car. We make every efort to resolve (the issue). “The average unit is probably a 2008. Average miles is somewhere around 80,000 to 90,000. “We carry 75 percent

cars and 25 percent trucks/ SUVs. Of that 10 percent are pick-ups. “Average recon costs are $300 to $500. “Advertising is all internet - Cars.com and a lot of Craigslist. “We recently sold a 2008 Chevrolet Tahoe. I think it had around 130,000 miles and we got around $15,000 to $16,000.”

NORTH CAROLINA Steve Wetmore, president, McAdenville Motors, Gastonia, N.C.: “We’ve been in business 15 years at this location. We have another store, BLVD Select Pre-owned, about a mile and a half down the road. “We opened this location in February last year and it’s across the street from a Chevrolet, Honda and Kia dealer. So we’re kind of trying to chase the better turndowns. “About 80 percent of our business in McAdenville is subprime and deep sub-

Compiled by Jeffrey Bellant prime. At the new location we were dealing in subprime and prime, but we’re actually changing that model to be more like what we do down the street because it works so well. “We’ve kind of scaled it back from the $20,000 vehicles to the $9,000 to $15,000 vehicles. So our average retail price is in the $10,000 to $12,000 range. “Typically we keep 50 to 60 vehicles in inventory. Between both lots we’ve got about 130 to 140 for tax season. “We usually start ramping up our buying for tax season in November and December. We have to put everything through recon. “Our average recon cost is $400 per unit. Another reason we have the new location is it holds our recon facility. “Pretty much all of our inventory now comes from auctions like Manheim Statesville and ADESA Charlotte. We also buy a lot online from Manheim and

ADESA. “Five years ago, everything was trade-ins from franchise stores. “We use Credit Acceptance and a lot of local subprime lenders. “Average model years are 2008 through 2013. Mileage is anywhere from 60,000 to 120,000. We try to keep it in those ranges because of the cost of maintenance on the vehicle. “I would say we carry 60 percent cars, 30 percent SUVs and vans and 10 percent trucks – when we can ind them. Trucks are just the hardest ones to ind. “Our inventory is 60 percent imports and 40 percent domestics. “Our main advertising would be the website. We’ve used AutoTrader, TrueCar and Cars.com in the past. Now we use CarGurus. We also do some Craigslist and eBay. “We recently sold a 2008 Cadillac Escalade. That had 136,000 miles. We sold it for $16,884.”

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USED CAR NEWS

March 6, 2017 • 15

WHOLESALE MARKETS GEORGIA Brad Neal, vice president – business development, Vemo Auto Auctions, Warner Robins, Ga.: “We’ve been in business for about eight months. Our irst sale was at the beginning of June. We’re just south of Macon (in central Georgia). “We’re running two lanes every sale. We’re on a 10acre facility and we have the capacity for four lanes. “Tax time is a little light (in mid-February). We’re running about 150 cars or so. We saw a little bit of an uptick in November and December as dealers geared up for their tax inventory. “This week (Feb. 21), we were just starting to see the tax money in the lanes. “With it being a new operation, our sales percentages luctuated a bit in the beginning. Now, we’re selling in the high 50s to low 60s in percent sold. We’re starting to get a steady following. “On average. We’re getting about 75 to 80 dealers a sale

(in the lanes). But we’ve had as many as 100 to 110. “All of our sales force is reaching out (to dealers). We’re getting buyers from south Georgia, some from the Atlanta area and as far west as Opelika, Ala.. We’re trying to extend our reach out toward Savannah. “I would say we’re 90 to 95 percent dealer consignment, with 80 percent of that coming from new-car franchise stores. “The remaining (volume) is from inance companies and bank repossessions. “When we irst started, we didn’t have any contacts with banks or inance companies. “Now that we’ve got a little bit of a foothold, we’re getting a little following. “We don’t have any GSA or leet-lease units (non-repossessions). “We’re signed up with Auction Pipeline. So we use them for all of our run lists and online presence. “We also have a very strong simulcast system –

Velocicast – that is part of Auction Edge. It’s really proven to be an asset. “Our average price is $5,500. “Trucks always do well. I’d say full-size like F-150s and Silverado 1500s do the best, but even the smaller trucks do well. Four-wheel drives are really sought after. “We’re really geared up for our irst tax time here in middle Georgia. “We’re very enthusiastic and looking forward to seeing what 2017 holds for us.”

INDIANA Karen Smith-Mancewicz, owner, Greater Mishawaka Auto Auction, Mishawaka, Ind.: “We’ve been here 32 years. “We are running six lanes. We’re up a little bit in volume, but not huge. It’s just a little bump. We’re running about 525 a week. “Sales percentages run about 53 to 54 percent. That’s steady. It’s about the same as this time last year. “Volumes are 80 percent

dealer consignment. That hasn’t changed. The rest are leet-lease repos. Most of them are coming from secondary inance (companies). “Volumes of repos are on the up. But I think that’s up nationwide. Cars are just being repossessed. Some dealers are folding. “On average, we have about 300 people here every week. Everybody is waiting on tax time. It was late, having something to do with the Homestead credit. But the tax money has inally hit. Their sales have been fairly strong up until this point. Prices are high. Overall, they are fairly happy. “We (draw dealers) from Indiana, Ohio, Kentucky, Illinois and Wisconsin. “All of our lanes are simulcast. We also use OVE and Smart Auction. “Online sales are about 1 percent of (total). That’s (the inal bidder). For us, that’s a good number. “We also have a salvage

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Compiled by Jeffrey Bellant sale. It’s a video sale. We’ll have anywhere from 12 to 40, it just depends. Most of them are just in-ops, or just not safe to drive through the lanes. “We have detail and (reconditioning services). We don’t do body work here. We farm that out. “The average price (across the block) is about $5,000. Everybody wants the $5,000 to $7,000 car. “It’s the small SUVs that are (strong). Impalas are struggling right now. I don’t know if it’s because the market is struggling with them right now. They’re such nice cars, but the bottom seems to have fallen out on the market. My sales staf drives Impalas and that’s because they are bulletproof. “Last year was a good year. I’m hoping for improvement in 2017. I’m looking for a small increase. Realistically, if we can get a 2- to 3or 4-percent increase, we’ll be doing well.”


ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES MARCH 2017

SOURCE: BLACK BOOK

2012 MODELS

2014 MODELS Recorded Figures

DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 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 SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape XLT 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

MAR ‘16 13,200 16,300 7,400 7,500 7,600 12,200 6,950 10,600 11,350 15,100 MAR ‘16 15,400 17,300 33,100 10,150 8,400 17,850 21,000 6,500 8,200 9,300 7,100 10,250 8,450 10,400 MAR ‘16 21,450 30,300 20,150 9,800 19,800 24,200 9,000 14,700 12,550 20,600 17,500 16,000 13,900 13,700 24,250 19,250 24,950 10,950 18,850 19,500 24,450 21,025

SEP ‘16 11,850 15,200 6,250 7,250 7,150 11,400 5,850 10,750 10,500 13,650 SEP ‘16 15,050 15,750 27,750 9,450 7,650 16,400 18,300 5,600 7,300 7,700 5,550 9,600 7,400 8,975 SEP ‘16 16,700 29,350 18,350 9,600 18,200 21,400 9,000 13,100 10,850 17,400 16,300 14,700 11,950 12,150 21,100 17,200 25,050 9,700 16,850 17,500 22,700 20,925

MAR ‘17 9,500 12,600 5,250 5,975 5,650 9,450 4,900 8,600 8,750 11,050 MAR ‘17 12,050 11,500 21,750 7,850 6,800 13,550 15,150 4,300 6,250 6,650 4,750 8,000 6,300 7,375 MAR ‘17 14,150 26,000 14,600 7,900 16,400 17,200 7,200 10,900 9,150 14,600 13,700 11,500 11,400 9,950 17,400 14,900 23,550 7,900 13,850 15,100 21,700 18,775

MAR ‘18 8,300 10,225 4,325 5,125 4,550 8,100 4,025 7,675 7,300 9,525 MAR ‘18 9,675 10,650 16,325 6,850 5,775 10,875 11,925 3,400 5,400 5,750 3,975 6,875 5,425 6,225 MAR ‘18 11,975 21,875 12,675 6,550 14,675 15,250 5,925 9,225 7,475 12,625 12,875 9,850 10,000 8,300 15,350 12,775 22,075 6,825 11,475 13,700 19,325 18,200

MAR ‘19 7,025 8,375 3,550 4,375 3,725 7,025 3,300 6,525 6,175 8,175 MAR ‘19 7,875 8,825 12,500 5,775 4,900 8,950 9,500 2,775 4,575 4,850 3,325 5,950 4,675 5,100 MAR ‘19 10,025 18,150 10,775 5,400 13,125 12,775 4,875 7,650 6,225 10,825 11,350 8,350 8,750 6,900 13,025 11,000 20,425 5,825 9,400 12,450 16,925 16,525

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Cadillac CTS 3.6 Premium 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 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 SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Crew Cab 4WD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SE 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

#s

2013 MODELS

MAR ‘16 17,500 33,200 9,450 14,550 9,900 15,450 9,800 13,800 14,350 20,150 MAR ‘16 20,200 21,600 52,600 14,600 11,550 25,800 28,900 8,750 10,950 13,550 9,800 12,450 11,250 13,250 MAR ‘16 27,150 43,150 28,200 13,100 27,700 29,400 13,000 18,700 15,650 25,500 22,500 20,700 16,950 18,500 29,550 22,750 28,500 13,650 21,875 23,500 28,400 23,850

SEP ‘16 17,300 30,600 9,000 14,450 9,300 14,750 9,150 14,000 14,250 18,800 SEP ‘16 20,100 19,750 45,000 13,750 10,650 22,800 26,400 7,850 9,950 11,350 8,750 11,750 10,850 13,500 SEP ‘16 23,250 39,450 25,000 12,900 28,200 28,800 13,500 19,250 15,050 24,500 21,400 20,300 15,950 18,500 27,950 20,750 28,700 13,000 21,725 22,600 26,550 23,900

MAR ‘17 14,400 26,050 7,700 12,400 8,250 13,500 7,500 12,000 12,650 16,600 MAR ‘17 17,050 16,500 39,500 12,200 9,750 20,500 23,350 6,300 9,500 10,850 8,050 11,150 10,100 12,050 MAR ‘17 24,700 34,800 21,900 10,600 25,800 27,300 11,300 17,100 12,900 21,800 19,900 18,000 14,350 16,050 25,550 19,050 27,500 11,950 19,425 21,100 25,600 22,700

Projected Figures MAR ‘18 12,700 21,300 6,450 10,575 6,750 11,525 6,200 10,425 10,775 14,050 MAR ‘18 13,975 14,450 30,075 10,500 8,300 16,525 18,700 5,050 8,050 9,050 6,750 9,600 8,775 10,400 MAR ‘18 20,125 29,650 19,150 8,925 23,425 23,400 9,400 14,725 10,475 18,625 18,050 15,725 12,775 13,500 22,325 16,400 25,275 10,350 16,275 18,925 22,775 21,025

MAR ‘19 10,825 17,525 5,325 9,000 5,625 9,875 5,100 8,950 9,125 12,125 MAR ‘19 11,500 11,875 22,975 8,950 7,025 13,625 15,075 4,125 6,825 7,675 5,625 8,300 7,575 8,675 MAR ‘19 16,900 24,875 16,400 7,500 21,100 19,900 7,725 12,475 8,750 15,825 15,975 13,675 11,300 11,350 19,200 14,125 23,200 9,000 13,475 17,150 20,125 19,150

2015 MODELS Recorded Figures

DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 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 SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SEL 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

Recorded Figures

Projected Figures

MAR ‘16 14,700 18,800 8,250 8,650 8,700 14,300 8,500 12,200 12,850 17,750 MAR ‘16 17,500 19,900 42,000 12,900 9,950 22,950 23,600 7,650 9,700 12,500 8,700 11,300 9,700 11,900 MAR ‘16 24,700 36,950 23,500 11,550 21,300 27,400 10,800 17,700 15,550 23,400 20,500 19,500 15,150 15,700 27,100 21,250 26,150 12,400 19,650 21,500 26,100 22,050

SEP ‘16 15,250 17,800 8,000 8,750 8,150 14,200 7,850 12,250 12,600 16,150 SEP ‘16 17,150 17,750 35,250 12,150 9,150 20,450 20,700 6,850 8,900 10,350 7,650 10,500 9,000 11,750 SEP ‘16 21,650 35,350 22,850 11,650 21,800 26,500 11,600 17,650 15,200 22,400 20,000 19,300 13,900 14,650 24,250 19,500 27,000 11,650 19,300 20,500 25,200 22,750

MAR ‘17 13,000 15,800 6,600 7,325 7,200 12,500 6,250 10,500 11,000 14,150 MAR ‘17 13,950 14,000 30,250 10,700 8,500 18,100 18,550 5,500 8,350 9,500 7,000 9,400 7,750 9,900 MAR ‘17 18,100 31,000 19,500 9,550 19,200 24,700 9,700 14,950 12,950 18,700 18,000 16,500 13,050 12,250 22,100 18,050 25,950 10,550 17,350 18,100 24,900 21,850

Recorded Figures

Projected Figures MAR ‘18 11,275 12,850 5,475 6,275 5,850 10,625 5,150 9,125 9,250 12,100 MAR ‘18 11,300 12,500 22,775 9,200 7,225 14,550 14,700 4,375 7,100 8,075 5,850 8,075 6,675 8,525 MAR ‘18 15,425 26,375 17,000 8,000 17,250 21,125 8,025 12,775 10,625 16,150 16,500 14,275 11,525 10,250 19,225 15,450 24,000 9,100 14,475 16,350 21,775 20,150

MAR ‘19 9,575 10,550 4,500 5,350 4,825 9,175 4,225 7,800 7,800 10,400 MAR ‘19 9,225 10,300 17,350 7,800 6,125 11,950 11,775 3,575 6,025 6,825 4,875 6,975 5,750 7,075 MAR ‘19 12,900 22,025 14,500 6,650 15,475 17,850 6,575 10,750 8,850 13,750 14,500 12,300 10,150 8,575 16,450 13,300 22,125 7,850 11,900 14,875 19,175 18,375

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Cadillac CTS 3.6 Luxury 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 S 4D Sedan AWD Chrysler 300 S 4D Sedan V6 Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan IMPORT CARS Acura TLX Base 2.4L 4D Sdn BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata SE 4D Sedan 2.4 Lexus ES 350 base 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 SAV Cadillac Escalade base 4D SUV 4WD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Crew Cab 4WD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SE 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner Double Cab V6

MAR ‘16 20,650 33,600 11,450 16,900 16,500 23,800 11,400 19,000 17,000 24,100 MAR ‘16 23,650 26,200 66,700 16,450 13,350 28,800 36,300 9,900 12,400 15,400 11,250 15,100 12,150 15,200 MAR ‘16 31,300 62,600 33,000 15,800 29,200 35,900 15,800 23,800 17,800 27,200 25,200 24,500 19,050 20,550 31,350 25,650 31,100 15,550 26,850 25,500 30,850 22,800

SEP ‘16 18,800 30,700 10,500 16,200 15,300 22,450 11,050 18,000 16,250 21,800 SEP ‘16 23,300 22,500 59,000 15,900 12,150 26,400 32,100 9,550 11,500 13,300 10,150 13,850 11,950 15,050 SEP ‘16 27,950 56,150 32,000 15,300 30,000 35,900 16,100 22,950 17,050 26,500 24,900 22,700 18,400 22,000 30,250 23,150 30,400 14,550 29,050 24,900 29,750 24,650

MAR ‘17 16,500 24,300 9,100 13,250 14,450 19,750 9,200 15,150 14,650 19,400 MAR ‘17 20,300 19,250 49,750 13,950 11,000 24,800 29,050 8,200 11,100 13,200 9,250 12,350 10,800 13,600 MAR ‘17 25,250 50,800 25,150 11,850 27,500 33,000 13,200 19,650 15,000 25,000 21,600 19,000 16,050 18,650 28,050 22,050 29,200 13,100 25,200 22,500 27,900 23,700

Projected Figures MAR ‘18 13,950 20,025 7,700 11,425 11,925 16,775 7,675 12,225 12,650 16,650 MAR ‘18 16,900 16,625 38,450 12,175 9,375 20,125 23,550 6,650 9,325 10,750 7,800 10,675 9,400 11,650 MAR ‘18 21,375 43,225 22,050 10,050 24,825 28,600 11,075 17,025 12,200 21,375 20,025 16,700 14,350 15,750 24,475 19,075 26,675 11,450 21,400 20,250 25,350 21,550

MAR ‘19 11,925 16,550 6,375 9,750 9,950 14,325 6,325 10,575 10,825 14,400 MAR ‘19 14,200 13,725 29,675 10,400 7,950 16,650 19,175 5,450 7,925 9,150 6,525 9,250 8,125 9,750 MAR ‘19 18,025 36,425 18,950 8,475 22,425 24,450 9,150 14,525 10,250 18,175 17,775 14,675 12,775 13,300 21,150 16,500 24,375 10,000 17,775 18,225 22,450 19,650


USED CAR NEWS

March 6, 2017 • 17

DISCONNECTED JOTTINGS FROM Perhaps it’s in the DNA – my grandson Aiden loves cars. I suppose I shouldn’t be really surprised. Cars or trucks of any description

TONY MOORBY

was as identiiable as a ingerprint. A Rover 75 Saloon from the ‘50s emitted an urgent whine from the gearbox that sounded like

Tony Moorby • 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 • Awarded the Ring of Honor by NIADA • NAAA Hall of Famer

have illed family interests around here for as long as I can remember. My son Robby is in the business learning all he can from the inside out. Even back in post-war England my dad was fascinated by cars and could tell you the make of any approaching vehicle (there weren’t many around back then) just by the sound it made. A combination of the chorus of noises from the engine, exhaust and transmission

an asthmatic trying to gasp for breath. The starter motor on a 1965 Triumph Herald had a zinging clang that would never be connected to another car. The sounds were all as much a part of the character of a car as the styling. I had a 1974 MGB GT whose deepthroated exhaust resonator box announced my departure for work to my neighbors as clearly as setting a clock. Aiden’s fascination started

early. At age two, he would line his toy cars – he has hundreds of them – in rows as straight as soldiers along the edge of the carpet and would spend hours arranging and rearranging them till the layout met his pleasure. He’s always had an eye for style and color, appreciating the lines and swoops of design elements that diferentiate one from another. Now aged nine, he possesses what’s as close to a photographic memory as you can get. He loves facts and research and so can regurgitate any information, once iled away, upon demand. Ask him nicely and he’ll probably come up with the engine size and horsepower of a 1960 Ferrari GT California or the diference between the engines of a 1963 E-type Jaguar Series 1 and its later twin, the Series 2. We recently visited The Lane Motor Museum here in Nashville that boasts a great collection of early European

C R O S S WO R D 28. Con man’s trick 30. Blood relative, for short 32. he 405 runs through it, for short 33. Big name in dozers, abr. 34. Durango maker 36. ___ Cruiser 39. Technology used in self-driving cars 41. Gearshit topper 42. Rudely assertive 43. Bill featuring Jeferson Down 1. Ford model since 1964 2. Outback maker 3. Cooler 4. Motor

away to accompany his efforts. He’s already good at math and has a vocabulary to meet or beat most adults. He’ll make a great engineer one day – that is if he’s not a brain surgeon! The school run is now a car-spotting opportunity twice a day, with a running commentary packed with his abundant observations and knowledge. And questions galore – he’s like a mynah bird jabbering away in the back seat asking for the car to be put in ‘sport mode’ so he can feel the acceleration and hear the exhaust note. I know kids have passing fancies, but if he’s like the rest of us he’ll enjoy a lifelong passion. Even if he doesn’t end up in the business he’ll almost certainly own an exotic car or ive.

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

By Myles Mellor

Across 1. Tesla CEO 3. J50 and SP12 9. Block 10. Chrysler convertible 11. Any auto 12. Like the ins on a T-Bird 14. First letter in Lamborghini 15. Away 16. Depart 17. Rate setters, for short 18. Completed negotiation 19. Polish the car 23. Big name in upscale wheels 24. Traic light color 26. Kia crossover 27. Skylark, for one

cars, especially small and micro cars. He knew more about them than I did! A lifelong afection for Lego sets now extends to (expensively) collecting their car kits, which adorn various rooms in his and our houses. He recently commissioned me to paint a Bugatti Veyron for his bedroom. His dexterity with any form of electronic device allows indulgences in data gathering to car racing. He can now build a virtual car from scratch using parts that he matches together for peak performance. And then he races them – on the internet, of course. After the race, he’ll tweak this or that to see if he can improve things further and of he goes again. He’s as likely to have some (often classical) music blaring

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Solution to this puzzle in the 3/20/17 issue. Call 1.800.794.0760 for a FREE subscription.

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18 • March 6, 2017

AROUND THE BLOCK DEALERS HAUL TRUCKS FROM BLOCK

USED CAR NEWS

Compiled by Jeffrey Bellant

Auction Combines Cars, Cash, Charity

rental unit sale the following Southeastern Auto Auction of Saday. vannah held its third annual “Cars, During that second day’s Cash & Caring Sale,” on Feb. 15, with sale, Enterprise and Avis prizes and a charity efort. each ran over 100 units with The “Cars” portion of the sale feaspecial transportation and tured a large run of vehicles includfloat rates available to all ing a record consignment of leetdealers attending the sale. lease, bank and rental units. The independent auto aucThe “Cash” portion of the sale feation also ran over 700 fleet/ tured $25,000 in Cash & Prizes that lease units on the second day, were given away after the sale. The “Caring” portion of the sale bringing the total of the twofeatured a donation of over $4,000 day event to nearly 1,600 to Shriners Hospital for Children. units. This donation came from money Both days’ events were part raised through 50/50 drawings and of a larger “Race Into Tax an auction contribution for every Time” sales event. transaction made over the previous After each sale, CAA put ive weeks. dealers in cardboard race “It was a great day for both buycars and gave them a chance ers and sellers,” said Bill McCready, to win a trip to the Richard auction vice president. “Our instiFACE TO FACE: Auction owners Patty and Henry Stanley enjoy the recent Truck Sale at Carolina Petty Driving Experience in tutional business has grown rapidly Auto Auction, its 2nd annual event featuring about 1,600 units. over the last two years and it was on Charlotte on March 17. display for this sale.” Carolina Auto Auction hosted day, Feb. 7. its 2nd annual Truck Sale, fea- The event surpassed last We invite news items and top-quality photos from our readers to be considered for “Around the Block.” turing 400 pickup trucks and year’s Truck Sale. Carolina Please include the name of a contact person and a telephone number. Send items and photos to: Jeffrey Bellant. Mail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. free BBQ in the lanes on Tues- paired the event with a special Fax: (586) 772-9400 e-mail: jeff@usedcarnews.com

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EXTENDED ARBITRATION Get greater coverage online with CarsArrive transport Get an extended arbitration period of 48 hours from the time the vehicle is received, regardless of the number of days since purchase*, when you transport eligible DealerBlock purchases with CarsArrive Network. è Eligible purchases include includes off-lease, rental, dealer, leet and repo vehicles posted in the open sale from an offsite location on ADESA DealerBlock. è Without CarsArrive transport, most online buyers have only up to 14 days from the date of purchase to ile an arbitration claim.

Visit ADESA.com to learn more and get extended arbitration coverage. Call (888) 526-7326 for questions.

© 2017 ADESA, INC.

*Extended arbitration applies to eligible vehicles purchased on DealerBlock and transported by CarsArrive Network: Buyer has 48 hours from the delivery date on bill of lading to arbitrate. Type 1 transport only; buyer must select CarsArrive at time of sale. Transaction must be paid within three (3) days of sale; sale date equals day one (1). If day three (3) falls on a weekend or holiday, payment must be received by the next business day. Extended arbitration applies to offsite vehicles only; ADESA “at auction” units are not included. ADESA reserves the right to modify or cancel this beneit at any time.

Used Car News 3/6/17  
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