USED CAR NEWS
May 21, 2018 • 3
Missing Manuals Create Concern for Dealers couldn’t care less,” he said. “It goes unnoticed, but it reDealer Jef Woloszyn re- ally is a problem. About 95 cently noticed that more and percent of new-car trades more vehicles he purchased sold at auction are missing for his Wally’s Used Cars in their owner’s manuals.” A missing owner’s manual Phoenix were missing a key feature: the owner’s manual. might seem like an inconSome manufacturers have venience, but it can become fairly costly. been phasDealer Jim ing out Winterick, printed o w n e r ’ s “It goes unnoticed, but it president of manuals for really is a problem. About Gulfstream Motor Credit online ver95 percent of new-car in Miami, sions. But that wasn’t trades sold at auction has come the isthe case are missing their owner’s across sue, too. here. “I’m a buymanuals.” Instead, here, payo w n e r – Jeff Woloszyn here dealer, manuals so I’m selling that were l owe r- e n d supposed cars, so normally the ownto come with the vehicles er’s manual is not a probweren’t there. Woloszyn soon found lem,” he said. “If it was a problem – if I them, though. They were for need it to make a deal besale on sites like eBay. He sees so many of the cause it’s important to a cusmanuals online that he sus- tomer – then I’ll buy one and pects that they are getting give it to the customer.” However, he’ll tell the cusswiped from vehicle trades tomer that a speciic owner’s before they go to auction. “Most of the used-car manual may cost $50, so if managers that I talked to they want it, Winterick will By Jeffrey Bellant
get it for them. In those cases, a customer will say never mind, he said. Winterick said it doesn’t mean that owner’s manuals are unimportant. “Now, when you deal in later-model cars, it becomes imperative,” Winterick said, “especially if there are German cars. You have to have all the books and records because it’s important to some customers. “It makes a big difference in the value of the vehicle.” Woloszyn said he irst noticed the problem years ago when he bought a Mercedes-Benz 500SL convertible. “There was no manual in it,” he said. “So I igured I’d just buy one online. “Well, it was $280.” Woloszyn has an average retail price of $8,000 on his lot, which carries 50 to 60 units. He has been in busi-
ness for about 40 years in Phoenix. Paying for replacement manuals eats into his bottom line. Woloszyn said the dealers don’t sell manuals and they’re hard to ind outside of eBay, where there are thousands of them.
If all else fails, Winterick said his son pointed him to online videos as a suggestion for customers. “I didn’t know you could learn how to do so much stuf on YouTube,” he said. Woloszyn said sometimes you need the physical owner’s manual.
4 • May 21, 2018
USED CAR NEWS
NEWS BRIEFS KAR Reports Increased Revenue
Average vehicle listings of 4.9 million were down from 5 million. Used vehicle listings grew 6 percent, while new vehicle listings declined 6 percent.
KAR Auction Services Inc. reported revenue of $950.5 million in the irst quarter, as compared with revenue of $866.6 million for the irst quarter of 2017. Net income for the irst quarter in- Carvana Sees Higher Loss, Smaller creased to $90 million, as compared Loss Margin Carvana Co. saw its net loss marwith net income of $69.2 million in gin improve to 14.6 percent in the the irst quarter of 2017. The company announced a cash irst quarter from 24.2 in the same dividend of 35 cents per share on the period a year ago. Net loss was $52.7 million, an incompany’s common stock. crease of 37 percent year-over-year. Retail units sold totaled 18,464 for Cars.com Lists More Used Cars Cars.com Inc. reported total reve- the quarter. Revenue totaled $360.4 nue of $160 million in the irst quar- million. Total gross proit was $34.2 milter, up $6.8 million year-over-year. lion. Net income was $900,000. Total gross proit per unit was The company reported net cash provided by operating activities of $1,854. Carvana lowered its average days $26.7 million and free cash low of to sale to 70, from 72 last quarter and $24.1 million. Cars.com saw 19.4 million average 93 in the irst quarter of 2017. monthly unique visitors, up 9 percent year-over-year. Traic was 113.4 million, up 7 per- NAAA Auctions Sell More Than $100 Billion of Vehicles cent year-over-year. Sales of used vehicles totaled 10 Mobile traic grew 22 percent million units worth $105.6 billion at year-over-year and accounted for 65 percent of total traic compared National Auto Auction Association to 57 percent in the irst quarter of (NAAA) member auctions last year, according to the trade organization’s 2017. Dealer customer count of 20,474 21st annual survey. The survey found that the number was down from 21,296 as of Dec. 31.
of vehicles entering the auctions decreased by 2.4 percent to 17.3 million and the number of units sold was up 2.5 percent. Dealer consignment vehicles represented the largest number of units sold at 50.3 percent, leet-lease and repo were at 43.4 percent, followed by factory vehicles at 5.5 percent. Vehicles from other sources made up 0.8 percent. The average NAAA auction member operates an eight-lane facility on 78 acres, employs 137 people with a payroll of $4.5 million, and contributes $14,500 annually to charity.
Ally Strikes Deals Ally has signed an agreement with Sonic Automotive Inc. to provide vehicle service contracts (VSCs) and guaranteed asset protection (GAP) coverage for the group’s EchoPark used-car dealerships in Colorado and Texas. Through the agreement, EchoPark customers will have the option of adding Ally GAP and Ally Premier Protection service contracts to their purchases. Ally Premier Protection covers the repair cost for over 7,400 mechanical, electrical and safety components on a vehicle, as well as some related expenses such as trip inter-
ruption, rental car coverage, towing and 24/7 roadside assistance. Ally also announced an agreement with Westlake Financial Services. Westlake will list vehicles from a variety of brands on SmartAuction. The cars and trucks became available to dealers registered on SmartAuction beginning May 1.
XLerate Rolls Out Floor Planner XLerate Group’s dealer loor plan company XLFunding is now available at all of its auction locations. XLerate Group started the loor plan source for local markets in 2017. XLFunding currently ofers dealer funding at over 100 auctions nationwide. XLFunding is now accepting applications from dealers across the country, including Arizona, California, Florida, Indiana, Illinois, Michigan, New Mexico, New York, South Carolina, North Carolina, Ohio, Pennsylvania, Texas and Wisconsin.
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. 23 • No. 28 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 firstname.lastname@example.org.
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USED CAR NEWS
May 21, 2018 • 5
Independent Dealers Worry About Credit Access Fewer independent dealers expect economic conditions to improve, according to a survey by the National Independent Automobile Dealers Association. The overall picture shows NIADA members expected business to stay steady with no major uptick in customer traic or corresponding sales heading into the midyear of 2018. The NIADA’s business conidence survey, taken during the irst quarter, found 42 percent of the respondents expect conditions to improve in the irst quarter. This is down from 63 percent in the 2017 Q1 survey. Retail sales growth expectations fell to 50 percent from 70 percent a year ago and 67 percent in the previous quarter. The percentage of dealers who expected an increase in their cost of doing business rose to 66 percent from 57 percent in the fourth quarter of 2017. Optimism for increased cash low and availability of auto inance resources also
fell, with cash low down 21 percent and inance availability down 34 percent from the previous year. That was due in part to a sharp pullback in auto inance company investment in the subprime market. A handful of independent auto inance companies have left the market completely. Dealers cited less access to the number of lenders as well as tighter restrictions to qualify buyers for loans (29 percent each) as the top reasons why it’s been diicult to
secure loans for customers. Expectations of more consumer traic dropped to 41 percent from 71 percent in the irst quarter of 2017. Consumer retail sales were lat in this year’s irst quarter. The expectation of rising expenses also showed up in dealers’ perception of the single most important problem facing their business. Twenty-two percent said it was the increased cost of doing business. Concern over the lack of
auto inance resources rose from single digits throughout the past year to 12 percent. In related news, expansion is on the agenda for small business owners in 2018, with more than half anticipating revenue growth and 22 percent planning to hire staf, according to the 2018 Small Business Survey conducted by TD Bank. Last year, 46 percent of business owners expected to increase revenue and just 9 percent had plans to hire.
To help fuel this growth, credit needs also signiicantly increased nationwide. Forty-six percent of the 578 business owners surveyed said that they either have or will apply for credit in the next 12 months, compared with 21 percent in 2017. Federal Reserve interest rate hikes may be afecting business owner’s credit plans, however, with 27 percent stating rate changes are spurring them to seek credit sooner or to reinance current debt.
6 • May 21, 2018
USED CAR NEWS
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Congress Repeals Guidance The Consumer Financial Protective Bureau’s indirect automotive inance guidance, which had been highly unpopular with dealers, appears dead. The U.S. House of Representatives voted May 9 to repeal the guidance. The Senate already passed a resolution to strike down the guidance. The resolution moves to the president, who is expected to sign it. “The CFPB’s 2013 indirect auto lending guidance was a harmful, ill-advised solution that purported to solve the problem of a disparate impact theory that only existed in some mythical CFPB fairyland,” said Steve Jordan, CEO of the National Independent Automobile Dealers Association. “The reality is automobile dealers had a rich history of using indirect lenders to provide inancial transactions in the best interests of the driving public long before the CFPB decided to interfere. NIADA is thrilled Congress has removed the CFPB from that equation.” The CFPB issued the guidance in 2013 warning about the use of markups and how it would handle claims of racial discrimination.
Auto credit applications don’t contain information about race. Consumer advocates have long claimed dealers target minorities to drive up the cost of inance and receive more money from inance companies through markups. The 2010 legislation that created the CFPB speciically exempted dealers from its oversight. Industry spokespeople have claimed the guidance was a way to get around that exemption. “This vote indicates that American consumers have spoken to their elected representatives to say they want competitive pricing on vehicle loans,” said Chris Stinebert, CEO of the American Financial Services Association. “We are an industry that competes for consumers’ trust as well as their business while helping them acquire vehicles that support their transportation needs.” Attorney Steve Levine said on Twitter that the repeal was “signiicant, though the Bureau already backed of considerably on its own. Still, nice to get the lawed theory of disparate impact in indirect auto lending of the record.”
State Accuses Dealer of Fraud A former Chicago dealer was charged with running a large-scale theft scam through his store and defrauding area residents and lenders of more than $1.5 million. Donald T. Barclay, who now resides in Scottsdale, Ariz., was charged in Cook County Circuit Court with one count of identity theft over $100,000; one count of theft by deception over $1 million; one count of theft by unauthorized control over $1 million; three counts of theft over $500,000; one count of theft by deception over $100,000; as well as two counts of wire fraud. He will appear in court June 13. “The defendant deceived, cheated and stole over $1 million from people and businesses who trusted him,” said Illinois Attorney-General Lisa Madigan. The Illinois attorney general launched an investigation into Barclay, the former sole manager of Integrity of Chicago LLC, in February 2017, after the state’s Consumer Fraud Bureau received complaints against Barclay and his business alleging a variety of fraudulent practices. The attorney general’s oice was able to help a number of consumers pay of a portion of their original loans through the Illinois Dealer Recovery Trust Fund. The attorney general alleges that at least 16 consumers were defrauded when Barclay failed to pay
of their traded-in vehicle balances. According to the charges, Barclay’s scam also targeted three lenders, including BMW Financial Services, Gateway One Lending & Finance and Wells Fargo Dealer Services, which funded loans to the 16 consumers based on Integrity’s promise to pay of trade-in vehicle balances. This portion of Barclay’s scheme resulted in a loss exposure of over $500,000. The attorney general alleges that Barclay also targeted lender NextGear Capital Inc., which funded Barclay’s purchase of the vehicles listed on Integrity’s retail inventory loor plan. Beginning in late 2015 and continuing through May 2016, Barclay sold vehicles and received payment for a consumer’s purchase before requesting NextGear inance his purchase of the same vehicle, which was no longer in his inventory. This allowed Barclay to pocket the proceeds of the sale twice – from the consumer’s lender and then from NextGear’s inancing. Additionally, in response to NextGear’s inventory audits, Barclay falsely represented that certain vehicles were still in inventory and provided forged bills of sales that falsely relected incorrect sales dates of the vehicles. This portion of Barclay’s scheme resulted in a loss of more than $1 million to NextGear.
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*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”). Retail/ Loan and lease accounts are owned by Chase. *The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by 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 Chase is under license. Retail / Loan and lease accounts are owned by Chase. The tradename "Mazda Capital Services" as well as the Mazda and Mazda Capital Services logos are owned by Mazda Motor Corporation or its affiliates and are licensed to Chase. Retail / Loan and lease accounts are owned by Chase. ©2017 JPMorgan Chase Bank, N.A. Member FDIC (18-006) 6/18
8 • May 21, 2018
USED CAR NEWS
Recent Crashes Raise Question About Self-Driving Cars CHANDLER, Ariz. (AP) – A driver whose sedan collided with a self-driving vehicle owned by Waymo has been cited for running a red light, police in a Phoenix suburb said. Chandler Police Department spokesman Seth Tyler said that the Waymo-owned Chrysler minivan was in manual mode and slowing for the red light when the collision occurred May 4. Police had said initially that the Waymo minivan was in autonomous mode with a person in the driver’s seat. Tyler said that investigators determined the accident occurred after a Honda sedan ran the red light and swerved to avoid a vehicle that had the green light. The Honda then went across a raised median and into opposite-direction trafic lanes where the collision occurred, Tyler said. The Honda and the Waymo vehicle had signiicant damage, and Tyler said the Waymo driver had injuries that required hospitalization.
Tyler did not elaborate on the Waymo driver’s injuries but Waymo said in a statement that it was “concerned about the well-being and safety of our test driver and wish her a full recovery.’’ The company also said its mission is to make roads safer. It released a video of the moments before the collision. Neither driver’s identity was released. Waymo is Google’s selfdriving car spinof. The safety of self-driving technology has come under recent scrutiny. A pedestrian in the Phoenix suburb of Tempe died in March after she was struck by a self-driving Uber vehicle. It was the irst death involving a fully autonomous vehicle. A recent Harvard University forum found that the Tempe death is causing concern about safety. The panel discussion explored whether the ield is advancing too quickly. Current federal regulations have few requirements
speciically for self-driving vehicles, leaving it for states to handle. Participants in the forum included John Leonard, vice president of research at the Toyota Research Institute. Toyota has been working with Uber on driverless systems. The Toyota Research Institute announced it iled construction permits to build a
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The facility will include a simulated congested urban environment, slick surfaces and a four-lane divided highway with entrance and exit ramps. Toyota aims to create “a human-driven vehicle ... incapable of causing a crash.’’ The facility will expand Toyota’s automated vehicle testing at sites in Michigan and California.
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10 • May 21, 2018
USED CAR NEWS
Dealer Sues Cops over Sales KANSAS CITY, Mo. (AP) – A federal lawsuit alleges that Kansas City oicials never notiied a used-car dealer before selling several of his vehicles. John Hinz iled the lawsuit against the city, the Police Department and the Board of Police Commissioners, the Kansas City Star reported. The suit also alleges there have been about 50 instances in the last four years where the city sold cars without the rightful owners’ knowledge and consent. Hinz reported ive stolen vehicles to Kansas City police in 2013. Police recovered the cars and placed them in the city’s tow lot during an investigation. But the city sold the vehicles two months after the theft case’s dismissal in 2014. Hinz alleges the city didn’t notify him about the dismissal or the sale. The lawsuit says police knew Hinz owned the vehicles and that a police tow report showed the cars weren’t abandoned. The Attorney General’s Oice said
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Hinz didn’t properly title the vehicles. Kansas City auctioned of more than 5,300 vehicles for a total of $2.3 million last year, according to city data. The city’s policy is to give the vehicle’s last registered owner 30 days after a written notice to retrieve it. The city will sell the vehicle and keep the proceeds if the owner doesn’t recover it, according to the lawsuit. Hinz’s suit alleges the city’s database doesn’t identify individuals with true ownership of the vehicle and valid titles, even if the owner hasn’t yet registered the vehicle. The Board of Police Commissioners can only be sued for particular instances dictated by state statute, but the lawsuit doesn’t cover one of them, said Attorney General Josh Hawley on behalf of the board. He also said the lawsuit doesn’t show a pattern of unconstitutional misconduct.
Fire Slows F-150 Production
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DETROIT (AP) – A ire that damaged a Michigan auto parts supply factory is causing production problems at Ford, Fiat Chrysler and General Motors, but it’s too soon to tell yet whether dealers will run short of vehicles. So far Ford has been hit hardest by parts shortages. The company has had to temporarily lay of 7,600 workers as it cuts production of the F-Series pickup truck, the top-selling vehicle in America. But General Motors has been forced to stop producing full-size vans at a factory in Missouri, and production of Fiat Chrysler’s Paciica minivan has been curtailed in Windsor, Ontario. It’s all because of a May 2 ire that severely damaged the main plant at the Meridian Magnesium Products
of America factory in Eaton Rapids, Mich., near Lansing, that makes structural parts, about one-third of which goes to Ford. Multiple automakers have turned to Meridian to produce parts made of the lightweight metal as they try to shed pounds to meet government fuel eficiency standards. On May 11, Ford announced that it was suspending F-150 and Super Duty pickup production in Kansas City, Missouri; Dearborn, Michigan; and Louisville, Ky. The temporary layofs took place in Kansas City and Dearborn, while workers in Louisville, Kentucky, who made the Super Duty will switch to large Lincoln and Ford SUVs that also are made at the plant. Ford says it’s working with suppliers to limit the impact.
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12 • May 21, 2018
USED CAR NEWS
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Indiana’s attorney general is warning the state’s residents “to exercise extreme caution when purchasing used vehicles” following two recent incidents. In the irst case, Capitol Motors LLC failed to procure warranties for 185 consumers. The business – owned and operated by Naim Mahmoud – advertised that each vehicle it sold came with a 3-month/3,000mile warranty. However, the business regularly failed to forward payments to a third-party warranty provider, leaving buyers without warranty coverage. In addition, Capitol Motors failed to deliver valid vehicle titles within 31 days from the date of sale to 22 consumers, leaving those consumers unable to register or legally drive their newly purchased cars and trucks. Following a complaint iled against Capitol Motors and Naim Mahmoud by the Oice of the Attorney General, a Delaware County Circuit Court judge on March 27 ordered restitution totaling $62,480 for 185 consumers who purchased extended vehicle warranties that they never received. The judgment also provides court-ordered titles for two consumers. The judgment requires the defendants to pay civil penalties of $180,500.
The defendants are also ordered to pay the state $450 in costs, producing a total judgment amount of $243,430. Finally, the judgment prohibits defendant Naim Mahmoud from owning, operating or managing another auto dealership in Indiana in the future. A similar case occurred with Shaver Motors of Allen County Inc., and its owner, John B. Shaver III. The business accepted payment from 35 consumers for vehicle service contracts and failed to forward the customers’ money to the warranty provider. This left consumers without the warranty coverage for which they paid. Shaver Motors also failed to provide titles to multiple customers. A judge ordered Shaver Motors to pay $65,506.85 in restitution to 37 consumers who purchased extended vehicle warranties that they never received. The defendants also were ordered to pay $3,000 to the state for costs associated with the case. The judgment also provided court-ordered titles for three consumers. In addition, the judgment prohibits defendant John Shaver from owning, operating or managing another auto dealership in Indiana in the future.
Dealer Faces Clocking Claims Odometer tampering at a Sioux City used-car store has been discovered in a recent investigation by the Iowa Department of Transportation’s Bureau of Investigation and Identity Protection. The bureau is encouraging notiication from anyone who purchased a vehicle from Francisco Hurtado or Siouxland Auto Sales at 500 S. Lewis Blvd. from 2016 to 2018. The December investigation was initiated after the Iowa DOT received a tip regarding vehicles that displayed odometers that had been
tampered with to increase the vehicles’ value. On Jan. 17, a search warrant was served after undercover operations revealed three known victims and after identifying vehicles with tampered odometers on the dealer’s lot. This resulted in the seizure of 14 vehicles displaying odometers that had been tampered with. Hurtado was charged with six counts of fraudulent practice in the second degree. According to press reports, he has pleaded not guilty.
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14 • May 21, 2018
USED CAR NEWS
PEOPLE IN THE NEWS Compiled by Jeffrey Bellant Congresswoman Set to Speak at NIADA Rep. Stephanie Murphy (D-Fla.) will be the featured speaker for the welcome luncheon at the 2018 National In-
STEPHANIE MURPHY dependent Automobile Dealers Association Convention and Expo, coming up June 18-21 in Orlando, Fla. Murphy, who in 2016 became the irst Vietnamese-American woman elected to Congress, represents Florida’s 7th District, which includes downtown
Orlando. The former businesswoman serves on the House Small Business Committee – she is the ranking Democrat on the Subcommittee on Contracting and Workforce – and has been the lead Democratic co-sponsor on several bipartisan bills aimed at promoting the interests of small businesses. Murphy was one of 11 Democrats who in May voted in favor of repealing the CFPB’s controversial 2013 indirect auto lending guidance. She is also a member of the Blue Dog Coalition, a group of House Democrats who according to their mission statement are “dedicated to pursuing iscally responsible policies, ensuring a strong national defense for our country and transcending party lines to get things done for the
American people.” She is co-chair of that caucus’ Fiscal Responsibility Task Force.
FordDirect Names CEO FordDirect announced the appointment of Dianne Craig as chief executive oficer. Craig joins FordDirect with more than 30 years of experience in automotive sales and marketing, most recently serving as Ford Motor Co.’s director of U.S. sales. In this role, she was responsible for all sales, ield and distribution-related matters for Ford for the U.S. She also has served as president and CEO of Ford of Canada. Since joining Ford in 1986, Craig has held a variety of sales and marketing positions including advertising, product marketing,
contests and incentives and ield operations. She has extensive ield experience, including serving as general manager for Ford’s Southeast Market and as regional sales manager in Pittsburgh. Craig graduated from the State University of New York at Fredonia and holds an MBA from The Ohio State University.
wrote about the company’s move from dozens of U.S. on-premise data centers to the AWS cloud and shares some of the lessons learned along the way.
ard’s MidSouth region. These promotions come after Mike Black was promoted to chief executive oicer.
Cox CTO Contributes to Book A Cox Automotive executive contributed a chapter to a new book about cloud computing. Stephen Orban, general manager at Amazon Web Services, published the book, called “Ahead in the Cloud: Best Practices for Navigating the Future of Enterprise.” Cox Automotive Chief Technology Oicer Bryan Landerman
ADDISON THOMAS BRYAN LANDERMAN Dent Wizard Announces Promotions Dent Wizard International recently announced that Addison Thomas was promoted to chief operating oicer, and Doug Grill to Thomas’ previous position as regional vice president of Dent Wiz-
Thomas will assume Black’s chief operating oicer responsibilities and lead the core service operations team. He has served in various roles at Dent Wizard over the past 16 years. Grill is being promoted from his role as regional director of operations in the Southeast region.
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16 • May 21, 2018
RETAIL MARKETS PENNSYLVANIA Kristi Kohl, general manager, Garden Spot Auto Auction, Ephrata, Pa.: “We’ve been in business 53 years. “We have ive lanes and we’re currently running about 500 a week. We are down about 100 cars from this time last year. “We were at 85 percent at our (Nov. 28) sale. We average 81 percent for the year. “We also run 10 to 18 inops a week. That’s just a convenience for our customers. “We’re drawing about 300 bidders per week. That’s a little bit down from this time last year. “From dealers and from what we’re seeing, it’s the leases that are afecting our inventory. (Consumers) can go out and get a lease for $199 per month on a brand new vehicle and they’re not trading in when they lease a vehicle. They are just turning in their old lease. Franchise dealers are also hold-
ing on to their trades. “Our volumes are 100-percent dealer consignment. We’re proud of that percentage. “We use Edge Pipeline. I’m very pleased with how that is progressing for us. We are selling quite a bit online, more than we anticipated. We started online only about a year ago. For the past year, I’d say we’re at 3 percent that we sell online. We’re pleased with how it’s going. “Our average price is $3,100. Actually, that’s up a little bit from last year. “Trucks do very well here. “Moving into 2018 I’m hoping business picks up deinitely. I’d like to see more volume in our inventory. “We don’t see anything in the local economy (that’s doing badly). “(In terms of dealers stocking for tax season) we hear from everyone that it’s just hard to get cars out there. They’re just not out there. I heard some guys
also saying that they are not holding cars back (for tax season) like they’ve done in previous years. “We just want to continue being here for our customers and doing everything we can for them. They are family to us.”
VERMONT Shawn Camara, owner, Yorkmont Auto Auction, Fair Haven, Vt.: “This April will be four years (that we’ve been in business). “We have two lanes and we’re running both. “On average we run 150 a sale. “Right now, sales percentage is close to 50 percent. “I think that, like everybody else, I wanted to see more cars come in this year. I was told by a couple of different people that if we had 150 cars per sale this year, last year we should have had 300 cars. It should have been that big of a diference. We’re all getting less and less consignment.
$ “About 99 percent of our volume is dealer consignment. Those are mostly from new-car dealers. “To me, I think the big difference between three and four years ago and today is there used to be more (independent-dealer) trades and now they are more new-car trades. “So it may be like baby steps, but we seem to get a little better every week. I’ve had a couple of people say to me that ‘we’d thought you’d be a lot bigger than this.’ But I’ve talked to people who started our 20 or 30 years ago and when I tell them where we are at, they’re like, ‘You’re hitting a home run.’ “I think now it’s slow for dealers. In the past during this time of the year, we’d get one decent week and the next would be soft, one decent week and the next would be soft. But our sales over the past three or four weeks (have been above average). We recently had 25 percent more bidders at
USED CAR NEWS
Compiled by Jeffrey Bellant a sale. I don’t know what’s happening, but I’m not (complaining). “We use Pipeline online. We have a ‘Prime Tuesday’ sale every month, which are cars at $10,000 or higher. We’re seeing a (boost) from that. “We also have something we call the Yorkmont Exchange Sales System. It’s unique and we’re working on it with an auction out West, the only two auctions that use it. It allows customers to turn older inventory into sales online. We can push those sales to OVE, SmartAuction and ADESA with the push of a button. “Our average sale price is $4,200. We’re about $1,000 higher than last year. “A full-size pickup with four wheels and four full doors are really strong. If it had a cab-and-a-half or a regular cab a year or two years ago, they were hot. “I’m feeling good and conident going into next year – and that scares me.”
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18 • May 21, 2018
USED CAR NEWS
WHOLESALE MARKETS Compiled by Jeffrey Bellant LOUISIANA Steve Chiasson, owner/ managing partner, Greater Shreveport-Bossier Auto Auction, Shreveport, La.: “We’ve been in business for 11 years. We bought a new facility and moved in October of last year. It was a trucking irm that we were able to purchase and convert into an auction. “The dealers love it. It’s a much nicer facility. Our ofices are brand new and we added restrooms. It’s doing well. “We needed more room and this has 21 acres. We’re within three miles of two exits. We’re right down the road from ADESA, about 100 yards. We’re now drawing buyers from them that we wouldn’t get in the past and I think they are drawing buyers because of us that they wouldn’t get in the past. “We’re on the Internet now and running three lanes every week. Volumes are up and conversions are up. We actually have four lanes but we haven’t opened up the
fourth one yet. “We’re running about 350 per week. We’re up roughly about 10 percent on conversions. “Our average bid badge count is 225 to 250. The retail market is starting to drop a bit. Tax season was sporadic. Some people said they did well and others said they didn’t see as much. We saw an uptick but not a big uptick. It did last longer than it did last year. “We have about 60 percent (new-car) dealer trades, 35 percent consignment and the rest is captive inance, credit unions, banks leets and daily rentals. We’ve got Budget, Avis and Enterprise. “Locally, we just recovered from a tremendous hailstorm in this area. That stunted our market a bit. Dealers had to wait for the adjusters and the PDR guys to come in. Then they had to make decisions on what to do with the cars, should they ix the cars, etc.? “But it’s recovered and back to the norm.
“Our average sale price in the lanes recently was $6,500. “We’re on Edge Pipeline, OVE and SmartAuction. Participation is good. At a recent sale we had 68 bid badges online. “We’re up a little overall this year, so I’m pretty doggone optimistic. We’re in a growth period and now we have the capacity to handle 700 to 750 with no problem.”
PENNSYLVANIA Clint Weaver, general manager, America’s Auto Auction-Harrisburg, Mechanicsburg, Pa.: “We run six lanes, but we use them multiple times throughout the day, so it’s more like having 11. We’ll start the day out with an in-op and as-is lane. Then, when those are done, we’ll run six dealer consignment lanes. Then after that we’ll run three to four lease lanes, depending on the volume. “Volume has been down a little bit. We like to run
around 1,500, but we’ve been down to about 1,200 to 1,300. “Going into the summer, you always hit a little bit of a lull with the leet-lease business. “It’s the dealer business that’s afecting us right now.”As part of the America’s Auto Auctions, we can talk openly with 27 other auctions. We hear that it seems to be a nationwide issue. “The new-car stores are trying diferent avenues and broadening their interests in what they keep on their lots. The mileage parameters have gone up and the mileage has gone down. It used to be after 30 days they would bring cars to the sale. Now it’s 120 days or, sometimes, not at all. They’re keeping it on their own retail lot. “The trend I’m seeing is that everything has a lot more mileage on it. “Sales percentages have stayed strong across the board. They are sticking between 65 and 70 percent. I think that’s because of a lack of volume across the coun-
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try and dealers still needing cars. “It’s tough out there for dealers. The cost of new cars makes it hard for people to buy cars. So there’s a lot of leasing. “But you’re not seeing trades come back to the dealerships because everything’s coming of-lease. “We average about 700 dealers in the lanes and another 100 to 150 online at Edge Pipeline. We’ve been part of that for ive years. Some days we sell about 10 percent online. “We carry, maybe, 70 percent dealer (consignment) and 30 percent leet-lease. “We run about 50 to 75 salvage before (each) sale.” “We also have a specialty sale on the last Thursday of the month. We’ll have about 125 per month. We have campers, RVs, motorcycles, exotic cars and heavy-duty trucks. “Average price in the lanes is about $5,800. We usually hover between $5,500 and $6,000.”
20 â€˘ May 21, 2018
USED CAR NEWS
DISCONNECTED JOTTINGS FROM Nashville recently held a referendum on whether to spend $5.4 billion on improving traic and transit systems into and out of downtown. The inal cost was going to amount to closer to $9 billion when management, maintenance, operations and so on were considered in the total equation. Funding for the proposal was going to come from various tax bases â€“ the cityâ€™s sales tax, hotel-motel tax, business and excise tax, as well as an increase in the car rental tax. This would have pushed Nashvilleâ€™s sales tax to the highest in the country. Some put the burden on afected households by as much as $47,000 each over the life of the project. The system would consist of four light rail and ive rapid transit bus routes and take till 2032 to complete. I doubt, very sincerely based on that time scale, that the
excruciating costs would have been contained at the proposed level. You can hear it nowâ€Ś â€œOh, those costs were based on 15 year-old budgetsâ€Śâ€? The plan failed. Youâ€™ve seen me write on plenty of occasions that Nashville, like many cities, needs some close attention to its traic problems â€“ the cityâ€™s growing by 100 people a week â€“ what are we expected to do between now and 2032? I drove through Green Hills, a close suburb, on my way into Nashville for an appointment. The main road through this busy shopping center extends to about a mile and a half, but one has to deal with several sets of traics lights. Not one lightâ€™s sequence has anything to do with the next, resulting in infuriating gridlock and it took me forty minutes to extricate myself at the other end. Neil Armstrong walked on
the moon nearly ifty years ago and we canâ€™t synch a few traic signals? That is all presupposing that your vehicle isnâ€™t lost down one of the potholes â€“ or are they sink holes? Itâ€™s hard to tell the diference! Iâ€™m sure that todayâ€™s technology and computer wizardry could be usefully employed to speed us up, safely and more eiciently and shouldnâ€™t cost anywhere near $9 billion or take ifteen years. That time scale starts to bring in other considerations; there is a mentality in places like New York or Chicago that youâ€™d be a fool to drive into the city when you could sit on the bus or train and do the crossword. Not so down south. Here we still consider the private conines of our own space in the car to be sacrosanct and take it to the corner store or to work with no expectation of anything else.
But thatâ€™s changing â€“ my kids would just as easily take a shared ride with Uber or Lyft, rejoicing in the convenience of not having to ind a parking space and walk the rest of the way to a destination. If a trip to a restaurant is going to involve a glass of wine then ride sharing is the preferred way to get there â€“ or at least home. In 15 years, theyâ€™ll be working from home or telecommuting or if they take a vehicle it will likely be au-
Tony Moorby â€˘ 50-year veteran of the industry â€˘ President from 1997â€“2000 of ADT Automotive â€˘ Served as ADESAâ€™s executive vice president of sales and marketing â€˘ Moorby & Associates 2006â€“present â€˘ Awarded the Ring of Honor by NIADA â€˘ NAAA Hall of Famer â€˘ IARA Circle of Excellence
To see past columns from Tony Moorby, visit www.usedcarnews.com/columnists/tony-moorby Digital version available at usedcarnews.com
C R O S S WO R D By Myles Mellor
Across 1. Lincoln luxury SUV 5. Subaruâ€™s 3 row SUV 8. Chevy van 9. Land Rover model 11. Boat propeller 12. Range Rover luxury crossover 15. Polite word to use when talking to a customer 16. Californiaâ€™s Big ___ 18. Plug-in hybrid made by GM 19. Pre-owned car sales sites 21. Favoring 22. Medical experts, abbr. 23. Compact crossover from Honda 25. Popular car color
27. Above 29. Position 31. Love message, when repeated 32. Temperature control, for short 33. Slow down 34. â€œ2001â€? computer 35. Italian river 36. Car seller 39. Ford â€œponyâ€? cars 40. Parking attandantâ€™s tool 42. Lose traction 43. Car named ater the daughter of the inventor
Down 1. Toyota sedan 2. Seats, dashboard, etc. 3. Car type thatâ€™s not for soccer moms, 2 words
tonomous and possibly be synched to easily negotiate upcoming traic patterns. I donâ€™t know if thatâ€™s my idea of paradise but I believe that Nashvilleâ€™s plans today will be expensively outmoded in ifteen years and thus not worthy of the plansâ€™ proposals. Meanwhile, lovingly clutching on to our own space, Tennesseans continue to completely disregard the rules of the HOV lanes. Theyâ€™d probably treat bus lanes in much the same way!
4. Sirius and XM 5. Braking system 6. Gum up 7. ___ and wants 10. Toyota subcompact 13. Oil measurement 14. New Lamborghini 17. WRX ____ 18. C70 maker 20. Recommended ater 3000 miles, 2 words 23. Went very slowly in traic 24. Excellent, 2 words 26. Range of executive cars from Mercedes, 2 words 27. Rust and tarnish, e.g. 28. Sale abbreviation
39 41 43
29. XKE maker 30. Retro car 35. ____-owned 37. â€œWhat Kind of Fool ___?â€? 38. Summer in French
Solution to this puzzle in the 5/4/18 issue. Call 1.800.794.0760 for a FREE subscription.
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Solution to the 5/7/2018 puzzle
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• • • • • •
22 • May 21, 2018
USED CAR NEWS
AROUND THE BLOCK
Compiled by Jeffrey Bellant
ALLY HONORS AUCTION, VENDOR
FOUR TOPS: Ally’s Tom Moore, center, presents the award for Auction of the Year Leadership to Columbus Fair’s Greg Levi, left, Alexis Jacobs, and Tim French.
Columbus Fair Auto Auction (CFAA) was awarded Ally Financial’s Auction of the Year Leadership Award for 2017. The award recognizes the auctions overall sales, performance, and growth for the year. This marks the third year in a row that Columbus Fair has
earned the award. “Ally Financial appreciates the hard work and effort the Columbus Fair team does on our behalf,” said Tom Moore, Ally’s director of remarketing for the Eastern region. “This continues to be a great partnership for Ally and its dealer
customers and the results speak for themselves with Columbus Fair having won this award three years running.” CFAA owner Alexis Jacobs said the auction values its relationship with Ally both for commercial lease and repo. “We are proud of the recognition and we look forward to continued success in 2018 and beyond,” Jacobs said. Ally also honored Primeritus Financial Services Inc. as its 2017 Supplier of the Year. “It’s extremely rewarding to be recognized as an industry leader by Ally,” said Joe Mappes, executive vice president of client services and sales for Primeritus. “Our teams have worked very hard in developing a trusted relationship with Ally since we started working together in 2016, and has resulted in a strong and growing association between our companies.”
Salvage Auction Chains Expand The two biggest salvage auctions have been expanding in several markets. Insurance Auto Auctions Inc. now has auctions in all 50 states. The salvage chain opened its newest branch in Casper, Wyo. IAA Casper branch is located at 2305 Salt Creek Highway. It has eight acres with room for future growth. IAA recently announced that it will spin of from parent company KAR Auction Services Inc. Copart Inc. recently announced a pair of expansions. The salvage chain expanded its location near Minneapolis, located at 3737 East River Road in Fridley, Minn. This expansion adds 20 acres of land to the facility. Copart also expanded its location at 5600 South Arcadia Avenue in Tucson, Ariz.
We invite news items and top-quality photos from our readers to be considered for “Around the Block.” 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. Fax: (586) 772-9400 e-mail: email@example.com
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