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June 18, 2018

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Incoming NIADA President Pays it Forward Andy Gabler is the incoming president of the National Independent Automobile Dealers Association. He is president of Lakeside Auto Group in Erie, Pa., and owns two used-car dealerships and one franchise store. Used Car News: How did you get into the car business?

Rush - Dated Material

Andy Gabler: I went to high school to be an automotive diesel mechanic. I had my own garage for a couple of years. I also did other things, like build houses. I worked in a shipyard, working on big motors. I ended up hurting my shoulder and someone suggested selling cars. So I started selling cars at a new Mazda dealership. I was on the loor for almost a year and led the board every month. Then I got into inance and later special inance. I liked special inance a little bit more because it was dealing more with used cars. I always liked used cars and the money was always in used cars. I left that store and became special inance manager at a Nissan store and became the used-car manager at that store. Then I went to a big auto campus where they had the full Dodge line and GM line. I was used-car manager there. I learned a lot. Working at all those places, I learned a lot of things about what to do and a lot about what not to do. Some of those places just treated people horribly. That’s not what I wanted to do. I wanted to help people. Proit’s not a dirty word, but you can treat people well and give them good products for a fair price. In 2000, my wife got pregnant with our irst son and I decided that I was ready to go (into business) on my own. I opened a store in an old Shell gas station. The place was a mess,

Photo courtesy of Lakeside Auto Group GIVING BACK: Andy Gabler, incoming president of the National Independent Automobile Dealers Association, supports those in need with a Pay it Forward program.

hadn’t been open in 20 years. It was about the only thing I could aford. I ixed the place up, built an oice. I opened up one bay of the garage. I did all my own detailing and worked on my cars. I learned to become a notary. I didn’t have a lot of money to work with. I had a lot of friends in the business where I’d borrow a lot of the ‘hoops’ from the new-car stores and sell those. For the irst two years, I didn’t pull a dollar out of my store. Then we had another son and business started to take of a little bit. After those couple of years of history, I was able to get a loor plan

and started doing a little better. Five years into it, I found a piece of property on a four-lane highway three miles from where I was originally located and built a brand-new store. That’s my main used-car store today. A few years after that, in 2009, I bought an old Dodge store that had gone out of business 28 miles away from my main store and opened up there. In 2014, I closed on a Chevy-Buick franchise and I’ve had that ever since. Why I got into it? I wanted to do bigger and better. But the usedcar business is so much more fun.

UCN: How do you see the retail auto climate? Gabler: I think it’s getting a little better. We live in the Rust Belt and have seen a lot of industry leave. But there is other industry coming. I’m optimistic because technology has changed this business. Really, it’s changed so much. I can remember hand-writing bank contracts and state paperwork. I always prided myself on being able to pick out a nice car. I was a mechanic. I know what a nice car is. Continued on page 14

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USED CAR NEWS

June 18, 2018 • 3

Who Gets the Car? Divorce Creates Challenges By Ted Craig

Divorce is always hard on the couple involved. But it can also be hard on auto creditors and car dealers who inance vehicles. In a divorce, the couple divides their assets and liabilities. The car itself is an asset, but the inancing is a liability. If the person on the inance contract actually drives the car, this isn’t a problem. Fortunately, that’s the case more and more often, said Brent Carmichael, a consultant with NCM Associates who works with buy-here, pay-here dealers. Carmichael said it is common today for only one person to be on a inance contract, even if that person is married. There are still times when the lines are less clear and

this is when problems arise. Carmichael said the advice of attorneys he works with is to remember that the divorce is a legal matter between the couple and the inance contract is between the creditor and the consumer. Regardless of any arrangement the couple might have had in regard to who was going to drive the car and who was going to pay for it, the dealer or inance company should only work with the person on the contract. Even when it is clear who pays for the car, that person’s ability can be severally impaired by the divorce. “Keeping two households rather than one is always more expensive,” said Chris Chen, a certiied divorce inancial analyst. Chen said being divorced drives up expenses by 25

“Because the court ordered it doesn’t mean it’s going to be paid.” -Brent Carmichael

percent on average and in some cases it could be much higher. Eventually, people adjust to this new inancial reality, he said. And this can create opportunities for dealers as people might move to used cars from new. In some divorces, one spouse might pay money to the other. This usually comes in the form of child support. The good part of child support as a source of income is that it’s taxfree and mandatory, Chen said. In the big picture, it isn’t really a huge burden on the payer, either. “They were paying these expenses, anyway,” Chen said. The diference is they were spread out before. Carmichael sees a downside for both the payer and the payee of child support. On the receiving end, Carmichael said, it’s much less reliable than intended. “Because the court ordered it doesn’t mean it’s go-

ing to be paid,” he said. “It’s almost like overtime on a paycheck.” That’s why he advises against using it for underwriting unless there is an extended history of payments, at least six months and 12 is even better. For those doing the paying,

child support can become a burden, reaching up to 25 percent of net income. Carmichael said he has heard of people quitting their jobs to avoid paying child support. A court can garnish somebody’s wages to collect back child support.

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4 • June 18, 2018

USED CAR NEWS

NEWS BRIEFS Westlake Financial Services Offers Spot Delivery Insurance

agement software includes origination, servicing, accounting, imaging, custom reporting and Internet portals for dealers and customers. The combination of Black Book data and Goldpoint Systems will particularly benefit members of the American Financial Services Association. The integrated interface will provide access to not only used car/light truck vehicle values dating back to 1981 models, but also the specialty markets as well, including motorcycle/powersports, RV/camper, and medium- and heavy-duty trucks.

Westlake Financial Services announced a new spot delivery insurance program. The program is underwritten by Knight Management Insurance Services LLC and is now available to Westlake’s dealer partners in California. Westlake’s new spot insurance program is designed to provide auto dealers short-term insurance on the vehicle they have delivered to their customer during the funding process. Every spot policy comes with five out of the box coverages — bodily injury, property damage, medical pay- Copart Announces Annual Rebuild ments, comprehensive and collision. Contest Copart Inc. announced the launch Dealers also have the option to of its Fifth Annual Copart Rebuild purchase uninsured/underinsured motorist coverage. Spot insurance Challenge. The Copart Rebuild Challenge is is available in the state of California a contest designed for car enthusithrough DealerCenter. asts and automotive rebuilders who are U.S. residents to show how they Finance Management Software Adds have restored, customized or rebuilt a vehicle of their choice. ContesBlack Book Black Book announced the inte- tants can enter the Copart Rebuild gration of its vehicle valuation data Challenge from now to July 27 by with Goldpoint Systems, a loan orig- submitting before-and-after photos ination system used by auto finance of their project to Copart.com/Rebuild. providers across the United States. In addition, each entry should Goldpoint’s suite of financing man-

When you’re the rare bird in the flock.

include a caption with a brief description of the rebuild project. Free Copart Membership is required for contest entry and may be obtained through the online registration form at Copart.com/Register. At the end of the entry period, a panel of Copart’s in-house judges will choose the contest’s finalists. Public voting will begin on August 7 to determine three winners, each awarded a cash prize. Third place will receive $1,000, second place will receive $2,000, and the grand prize winner will be awarded $5,000.

Luxury Buyers Favor New Cars A recent survey by Jumpstart Automotive Media found 70 percent of luxury buyers are buying their primary vehicle new. These buyers are 41 percent less likely to purchase a used vehicle than mass-market buyers. Seventy-seven percent typically purchase or lease a new vehicle every three years or less.

over three days, mark 11 Car Vending Machine debuts in three years for Carvana. The D.C. Car Vending Machine is an eight-story, all-glass tower that holds up to 30 vehicles. Carvana entered the D.C. market in 2016. The Orlando location is Carvana’s 11th Car Vending Machine in three years, and the third Car Vending Machine in Florida. Carvana first launched in Orlando in March 2016.

CarMax Adds Dealership in the Southwest CarMax Inc. added a location in Santa Fe, N.M. This is the company’s second location in the state. CarMax also has a store in Albuquerque that opened in 2016. The store has the capacity to stock approximately 140 used vehicles.

Carvana Opens Vending Machines Carvana Co. opened its newest Car Vending Machines in Washington, D.C. and Orlando, Fla. These launches, which took place

PAGE 20

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, Radiance Cooper Advertising: Shannon Colby, Account Manager Marie Hingst, Account Manager Emily Brown Baker, Sales Support

Columnist: Tony Moorby Circulation: subs@usedcarnews.com Production: Tom Savage, Production Manager Cee Lippens, Web Master

Vol. 24 • No. 6 Used Car News is published the first and third Monday of each month.

Unique floorplan solutions to help grow your business. To capture the customer’s attention, you have to stand out from the crowd. That’s why we’re committed to providing the best in independent dealer inventory financing so that you have what you need to stay ahead. Let’s find a solution that makes you say, “Wow!”

Stand out with us. AFCDealer.com® © 2018 Automotive Finance Corporation. All rights reserved.

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

June 18, 2018 • 5

Chrysler Considers Adding Captive Finance Arm Fiat Chrysler Automobiles N.V. announced it intends to establish a captive inancial services arm to provide U.S. consumers with more options to inance vehicle purchases while supporting the company’s sales volumes and bolstering its earnings. FCA currently is the only major automaker in the U.S. without a captive financing arm. “Given our strong financial perform a n c e and improving credit proile, we believe the time is right to pursue a U.S. Finco strategy,” FCA Chief Executive Oicer Sergio Marchionne said. “FCA will have adequate capital to fund the equity needed and expects to have the credit rating to make the inance company funding competitive.”

The Chrysler Capital brand operates under a private label inancing agreement between Santander Consumer USA Inc. and FCA. The agreement is in year six of a 10-year term. Chrysler Capital currently provides consumer inancing for most FCA vehicle purchases in the U.S., with the rest coming from a variety of banks, FCA is exploring whether to acquire an existing inancial services business, which could include exercising an option to acquire Chrysler Capital, or to build its own inance company. Under the equity option agreement, FCA has the right to purchase, at fair value, an equity participation in the Chrysler Capital portion of the company’s business. In other Chrysler news,

“Given our strong inancial performance and improving credit proile, we believe the time is right.” – Sergio Marchionne

YOU CRUISE, YOU LOSE: Dodge Journeys are among the nearly 5 million units Chrysler is recalling because the cruise control might fail to disengage. In the event that cruise control cannot be disengaged while driving, owners should firmly and steadily apply the brakes and shift the transmission to neutral, placing the vehicle in park once it has stopped.

Chrysler is recalling 4,846,885 2014-18 SUVs and trucks. These vehicles are being recalled to address a defect that could prevent the cruise control system from disengaging. If, when using cruise control, there is a short circuit within the vehicle’s wiring,

the driver may not be able to shut of the cruise control either by depressing the brake pedal or manually turning the system of once it has been engaged, resulting in either the vehicle maintaining its current speed or possibly accelerating. Chrysler will notify owners, and dealers will inspect

the software, and perform a software lash on the engine or powertrain control module, free of charge. The recall is expected to begin July 6. Owners are advised to stop using cruise control until the software update has been performed.

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6 • June 18, 2018

USED CAR NEWS

Spring Market Lingers

The spring auction season started later this year and its efect lasted longer. Cox Automotive chief economist Jonathan Smoke said the spring bounce came three weeks later than in 2016 and peaked in mid-April. “Used vehicle prices are now moving down but remain higher now compared to where they were at the beginning of the year than any of the last three years,” Smoke said. The Manheim Used Vehicle Value Index rose to 134.2 in May. The Manheim Index adjusts prices for mix, mileage and seasonality. The Black Book Used Vehicle

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Retention Index for May came in at 112.9 and up slightly from 112 in April. Black Book uses average wholesale values on two- to six-year-old used vehicles, as percent of original typically-equipped MSRP. “After spring season, we typically see a decline in values in May,” said Anil Goyal, Black Book’s executive vice president of operations. “However, this year the used market is fairly stable, resulting in an uptick in our seasonally-adjusted Index.” Goyal attributed the strength to strong employment and consumer conidence.


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*Certain conditions apply. All rights reserved. Promotion terms are $0 Speciic Source Fee. Promotion applies to dealer’s Speciic Source Fee only, all other charges & terms pursuant to your Demand Promissory Note and Loan and Security Agreement (“Note”) & any other agreement with NextGear Capital apply. Promotion available only for non-auction purchases made by a contracted NextGear Capital dealer via Rapid Pay in their Account Portal and using their NextGear Capital line of credit only from May 25, 2018 to close of business on May 29, 2018 that are contemporaneously floor planned with NextGear Capital. Promotion limited to non-auction purchases. Dealer must be in good standing with NextGear Capital with credit available solely from NextGear Capital and originated on the Discover System, to be eligible for incentive. To the extent an eligible purchase is otherwise eligible for any other NextGear Capital promotion, these promotion terms will apply. This offer has no cash value and cannot be combined with any other offer. NextGear Capital reserves the right to modify or terminate this offer at any time. Except as otherwise provided herein, all Advances are subject to the Terms and Conditions of your Note with NextGear Capital. Please see your local NextGear Capital representative for complete details. All Advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.


8 • June 18, 2018

USED CAR NEWS

Cox Looks to the Future

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By Radiance Cooper

Cox Automotive is looking toward the future with a pair of recent partnerships. Cox is leading a Series B funding round of $28.61 million for Ridecell, a platform for carsharing, ridesharing, and autonomous leet. Ridecell‘s goal is to partner and integrate with a comprehensive mobility ecosystem, including their customers’ existing partners, to help their customers power growth, improve user experience, and build a more sustainable business. “Our platform and mobility ecosystem improves scalability and proitability for a large number of companies and mobility brands that are journeying towards an autonomous future,” said Ridecell CEO Aarjav Trivedi. “We believe that collaborating with all of our investors, along with a diverse set of industry partners, is key to creating a valuable and meaningful mobility ecosystem.” Additionally, Ridecell has plans of creating a developer API suite, which will allow partners to take creative control of their new mobility experience by creating their own app or web interface built using the

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Ridecell platform. “Cox Automotive’s strategic investment in Ridecell is another tangible move we are making in the mobility space, and a clear indication of our belief in Ridecell as a world-class provider of ridesharing and carsharing technology,” said David Liniado, vice president of new growth and development Cox Automotive. “Together, we will ill the missing link in the market for new mobility services that deliver cohesive management for the leets of today and tomorrow.” Meanwhile, Manheim has recently expanded its partnership with auto retailer Carvana. This will allow the company to conduct both purchasing and sales of wholesale inventory via Manheim’s online marketplaces. “Carvana’s goal is to give every customer an exceptional experience, which aligns with Manheim’s way of doing business, so we’re proud to call them a partner,” said Ernie Garcia, founder and CEO of Carvana. “Utilizing Manheim’s broad remarketing experience and diverse digital solutions has helped us accelerate as demand increases for our new way to buy a car.”

Car-Mart Ages Better By Radiance Cooper

Dealerships, like people, go through diferent life stages. America’s Car-Mart Chief Executive Oicer and President Jef Williams spoke in great detail during the company’s latest earnings call about the revenue from their dealerships in diferent age groups. These diferent age groups include dealerships under the age of 5 years, 5-10 years old, and stores older than 10 years. Revenues for stores in the less than 5-year-old category were up

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about 30 percent to $26 million. Stores in the 5- to 10-year category were up 14 percent to about $34 million in revenues. Revenues from stores over 10 years of age were up about 10 percent. “The older dealerships are the dealerships that felt the brunt of (increased) competition,” Williams said. “Today, we’re getting better.” Williams attributes this to their team doing a better job of looking at more cars. He also explained that technological progress helps the revenue of the vintage vehicles in older stores.


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USED CAR NEWS

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New Vehicle Costs Rise “Zero-percent inancing loans are growing too costly for automakers to ofer, but that doesn’t mean that incentives are not out there,” Acevedo said. “Automakers and dealers are simply turning toward other, more creative incentive structures in order to lure in consumers.” Financing continues to grow in part because new vehicles cost so much. The estimated average transaction price for light vehicles in the United States was $35,635 in May, according to Kelley Blue Book. New-vehicle prices increased by $1,187 from May 2017, while falling $145 from April. “Average transaction prices rose a healthy 3 percent this month and remain strong even as new-vehicle demand is expected to falter in 2018,” said Tim Fleming, analyst for Kelley Blue Book. “It’s no surprise prices were helped by SUV demand, but pickup trucks played a big role in May’s increases as well.” Manufacturers are doing less to keep down prices, according to J.D. Power. Incentive spending per unit was lat in May compared with the same period last year at $3,665 per unit.

High transaction prices for new cars drove inancing to a level not seen in years. Auto inance rates for new cars are expected to hit record highs last seen in 2009, according to Edmunds. The annual percentage rate (APR) on new inanced vehicles averaged 5.75 percent in May, compared to 5.04 percent in May 2017 and 4.17 percent in May 2013. “Higher interest rates appear to be incentivizing car shoppers, which is likely why we’ve seen stronger than expected sales so far this year,” said Jeremy Acevedo, Edmunds’ manager of industry analysis. “Since interest rates have been creeping up all year, shoppers are likely thinking it’s better to buy now before rates get any higher. However, this is likely a temporary pull-ahead effect, and could come back to bite automakers later in the year.” Edmunds experts point to a signiicant reduction in zero-percent loans as a contributor to the rise in average APRs. In May, zero-percent inancing deals reached their lowest levels in seven years, constituting 6.3 percent of total inance deals, compared to 9.9 percent in May 2017 and 9.8 percent in May 2013.

State Suspends Dealer Michigan’s Secretary of State has summarily suspended the license of a Flint used-vehicle dealer for allegedly failing to follow proper recordkeeping procedures required by law. Mamoon Alenooz has been suspended from operating Mike’s Cars LLC, located at 2101 S. Dort Highway, after two compliance inspections found violations. Secretary of State regulatory agents conducted an inspection of Mike’s Cars recently and discovered nine vehicles sold to customers that the dealership hadn’t applied for title and registration within the required 15 days of vehicle delivery. For Cars, Trucks and Vans

Since that date, three consumer complaint cases have been investigated and an additional no-title complaint was received. A follow-up inspection was conducted that resulted in multiple violations being issued. Investigators found that many records were not available for inspection. “Our investigators are ready to follow up on any complaints we receive and regularly perform compliance inspections,” said Secretary of State Ruth Johnson. “We are ready to take action against the relatively few auto dealers who don’t follow the law.”

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12 • June 18, 2018

USED CAR NEWS

Companies Pool Resources for Self-Driving Cars DETROIT (AP) – Two technology giants announced major new investments in self-driving vehicles recently, bringing the world a step closer to a time when autonomous cars are a part of everyday life – a reality that General Motors aims to achieve in some places as early as next year. The deals, and other ongoing negotiations, show that the technology is authentic and it’s accelerating. “It’s all starting to coalesce into something that’s more real,” said Navigant Research analyst Sam Abuelsamid, who closely follows autonomous vehicle developments. SoftBank, a giant Japanese tech investment irm, announced Thursday it would spend $2.25 billion for a 20 percent stake in GM’s autonomous vehicle business. Then Waymo, Google’s self-driving operation, said it would buy up to 62,000 more minivans from Fiat Chrysler to expand its soon-to-start ride-hailing venture. Not to be outdone, Uber’s new CEO said at a Wednesday conference that he’s in talks with Waymo about adding Waymo self-driving vehicles to the Uber network to carry passengers, although there was no indication that was imminent. “Everything in the autonomous world is moving very quickly,” said

Rebecca Lindland, executive analyst for Kelley Blue Book. Also, as part of the Waymo-Fiat Chrysler announcement, the companies said they are discussing use of Waymo technology in FiatChrysler self-driving vehicles that would be sold to the public. That raises the possibility that personal car ownership won’t die if robotaxis become ubiquitous. Waymo, the current front-runner, already is testing self-driving Chrysler vans with no human backup behind the wheel in Arizona. The company plans to start an appbased autonomous ride-hailing service there later this year. At GM, widely viewed as being in second place, the SoftBank cash infusion will help the autonomous unit named GM Cruise to roll out a robotaxi service in at least one major city starting next year, CEO Mary Barra said. The deal, the largest yet between a technology investment irm and an old-line automaker, boosted General Motors Co. shares to their biggest one-day gain since the automaker returned to the public markets in 2010 after a trip through bankruptcy protection. GM Cruise would remain a wholly owned subsidiary of GM with the automaker keeping roughly 80 per-

cent of the business. SoftBank can trade its stake for shares in GM if Cruise isn’t spun of into a new company within seven years. The stock soared because investors are starting to realize that GM is a serious player in automated mobility, Abuelsamid said. But analysts were cautious about predicting a future of self-driving cars everywhere. Lindland said the recent Arizona crash in which a self-driving Uber SUV struck and killed a pedestrian,

as well as crashes involving Tesla Inc.’s semi-autonomous “Autopilot” feature, have rattled public conidence in the technology. “Even as the industry is pushing forward and collaborating and getting billions of dollars in investment, we can’t leave the consumer behind,” Lindland said. The announcements keep the front-runners on pace to start carrying passengers within the next couple of years in small-scale operations in a few metro areas, Abuelsamid said.


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14 • June 18, 2018

USED CAR NEWS

Incoming President Pays It Forward – from page 1 I know what one would sell for and what people would like about it. Now you walk around the auction and there’s not one person who doesn’t have a phone. They have every bit of information that everyone else has. UCN: As you take the reins of the NIADA, the association is in a growth mode, acquiring the NABD in addition to Leedom & Associates a few years ago. How have these moves strengthened NIADA? Gabler: With the acquisition of Leedom & Associates, we have taken the twenty group to the next level. With NABD, (founder) Ken Shilson wanted to retire. But his heart really wanted someone with a passion for the car business to take that over. We didn’t have a large presence in the buy-here, pay-here market going back four or ive years. That’s a huge part of the used-car business across the country. With Leedom and Shilson, that kind of brought it under our wing. It makes us more full spectrum. Plus, this is a group that needs help with legislation coming down and regulation from the CFPB.

UCN: In a time when online options for wholesale buying are growing, what makes the physical lanes still appealing? Gabler: There is still an excitement about touching, feeling, smelling and looking at that car in the lane. It’s hard to look at a car online. I’m not saying I don’t buy cars online, but I can look at a car going through the lane and I can picture it being sold. It’s real. I do see that it is slowly shifting. Go to an auction today and look up at that screen and see how many people you are competing against that are online. You can’t say that it doesn’t have an impact, especially for us up in the north. If we get hit with a bunch of snow and I can’t get out of the store, I can still go online to a sale and buy cars. But I like going to a physical auction. You talk to other dealers. You can hear what’s going on in the industry. You talk to some of the bank reps that are (representing) the cars. It’s something you cannot get sitting at your desk online. UCN: What legislative issues are NIADA currently focused on? Gabler: It is amazing. The last

three to four years, we’ve made amazing strides. The two things that are my heart and passion are legislation and education – decreasing legislation/regulation and increasing education. Our ‘Day on the Hill’ event has grown every year since we went there and it’s only going to get better. I haven’t missed one of these events. We did an Auto Caucus in Washington a couple of months ago and met with stafers. Most of these kids are 24 or 25 years old. I would say 95 percent of them don’t drive. They are basically writing policy about an industry they don’t know a lot about. They don’t hear about the great things the used-car dealers do for the community and the products that help people. So we went there and went through Car Buying 101, from the time a customer walks on a lot to (inance and insurance). So I think it’s good for us and (educational) for them. Now these guys are talking to us. They’re calling us. We have a voice there, without a doubt. The other thing is getting the states to get together and realizing the strength in numbers. We’ve got some things coming along at NIADA that are going to help us do that. We’ve had a couple of big wins

with the rollback of some regulations of the CFPB. We’ve also got some other things we’ll talk about at the 2018 NIADA Convention & Expo. UCN: What do you try to do to boost the image of dealers and help your community? Gabler: I’ve been going out every week for almost four years for a program called ‘Pay it Forward.’ We teamed up with a television station here. So I got this truck that’s all lettered up with ‘Pay it Forward.’ I go out every Wednesday. The television news gives out clues every morning on where to meet us. We have people meet us and pick a card and the highest card wins. The person who wins receives $300 and has to give it away within the hour. The news station comes with us and we follow the person. It’s inspired other businesses to come out. Recently we had our record giveaway of $1,550. We had three unions that matched it and other groups. We gave it to a retirement home that was trying to build a chapel for their residents. We’ve watched this inspire other people to go above and beyond for their communities. That’s really what dealers are about. I wish I could do this every day.


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USED CAR NEWS

June 18, 2018 • 16

Car Store Scraps Statue ASHEVILLE, N.C. (AP) – A North Carolina car dealership is taking down a statue depicting a native American following a text sent by an employee to a potential customer. Local news sources report Harry’s on the Hill in Asheville announced the employee sent an “ugly, insulting and inappropriate text message” to a customer, who was identiied as a member of the Eastern Band of the Cherokee Indians, instead of a co-

worker for whom it was intended. The dealership said the worker who sent the text was immediately ired. The Asheville Citizen-Times reports the 23-foot-tall iberglass statue of Chief Pontiac was erected when the dealership moved to its current location in November 1967. On its Facebook page, the dealership said it now considers the statue “a relic from a diferent era” that should be moved.

Kia Makes Large Recalls

STAY IN THE LOOP ABOUT ALL PROMOS AND EVENTS

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Kia has recalled more than half a million vehicles. The company is recalling 106,428 2015-2018 Kia Sedona vehicles equipped with a power sliding door (PSD). The PSD may not auto-reverse when its closing is obstructed. Kia will notify owners, and dealers will reprogram the PSD module software, free of charge. The recall began June 18. Kia’s number for this recall is SC164. Kia is also recalling 507,587 2010-

2013 Kia Forte, Forte Koup, 20112013 Kia Optima and 2011-2012 Kia Optima Hybrid and Sedona vehicles. In the event of a crash, the air bag control unit (ACU) may short circuit, preventing the frontal air bags and seat belt pretensioners from deploying. The remedy for this recall is still under development. The recall is planned to begin on July 27. Kia’s number for this recall is SC165.


USED CAR NEWS

June 18, 2018 • 17

PEOPLE IN THE NEWS Compiled by Jeffrey Bellant Cox Hires Product Chief Marianne Johnson is joining Cox Automotive as chief product oicer, reporting to Executive Vice President

Data, where she was head of product innovation and technology for the network and security solutions line of business and senior vice president of enterprise commercialization. Prior to First Data, Johnson was an executive vice president at Elavon, a U.S. Bank company. Before Elavon, she served as a key driver of strategic growth at Equifax as senior vice president of U.S. growth and operations.

efective representation of NAAA, was presented during the association’s annual Day on The Hill advocacy event in May. NAAA bestowed the award with a $2,500 donation in Esposito’s name to NAAA’s nonproit Warren Young Sr. Scholastic Foundation. Esposito received a gold medal, a framed commemorative certiicate and will have his name engraved on a plaque of esteemed Fellows at NAAA headquarters.

NAAA Honors Lobbyist

GWC Warranty Names Regional Managers

BRIAN FRANCIS

The National Auto Auction Association (NAAA) has named its legislative advocate, Sante Esposito, as a Warren Young Sr. Fellow. The honor recognizing his 37 years dedicated to shaping public policy, including his

GWC Warranty has announced several additions to its sales leadership team, with ive newly created regional sales manager positions. Brian Francis was promoted to GWC’s Midwest RSM position, overseeing GWC’s

Chancler Encalade joins GWC as the RSM for the company’s South-Central region, overseeing a team in Colorado, Illinois, Indiana, Louisiana, Oklahoma, Texas and other territories in the central United States. A University of New

MARIANNE JOHNSON and Chief Operating Oicer Mark O’Neil. In her new role, Johnson will partner with the Cox Automotive executive team to focus on building products. As a 30-year veteran in the intech ield, Johnson joins Cox Automotive from First

sales team in Michigan, Ohio, Pennsylvania and the surrounding states. His career spans more than 20 years in various positions with dealerships and F&I product providers.

Orleans graduate, Encalade has spent nearly 25 years working in leadership positions at large dealerships and national lenders like Capital One and HSBC. Scott Lugger, GWC’s new RSM for the Western region, manages a team in Arizona, California, Nevada, Oregon, Washington and additional territories in the Western United States. Lugger graduated from the University of Oregon prior to spending more than two decades in the automotive industry, including stints with Chrysler Financial and Wells Fargo Dealer Services. Charlie Maybin becomes the RSM for GWC’s Northeast region, inheriting a team from Delaware, Maryland, New England, New York and Pennsylvania. Maybin most recently spent six years with

Gateway One Lending & Finance, following a successful career in pharmaceutical and automotive sales. He is

SCOTT LUGGER a graduate of Kean University. Mark Whatley has been hired as the RSM for GWC’s Southeast region, which covers much of the Southeastern United States, including Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia. Whatley graduated from the University of Arkansas at Little Rock.


18 • June 18, 2018

RETAIL MARKETS NEW YORK Joel Osserman, president, Select Eurocars Inc., Waterloo, N.Y.: “We’ve been in business 37 years. “I would call myself an independent specialist in Volkswagen and Audi automobiles. We do just the one thing. “We used to do of-lease. I was the fourth largest buyer Volkswagen/Audi of-lease in the United States in 1993. But it’s virtually impossible to buy them now since the dealers are keeping them. “The last three months, inventory availability has been the worst I’ve seen since 2008. In the 1990s, I was stocking as many as 148 to 154. “Right now I’m in the area of 43, but I’d like to stock in the area of 55 to 60. Probably 13 of them are not Volkswagen or Audi, which are my prime movers. “We average somewhere around 30 sold per month. “I had 17 buyers in 13 states to (acquire) vehicles.

Now I’ve got about 20 buyers in 13 states. I’m looking at 75 sales per week. I’m going everywhere I can go to get the right units. If it doesn’t have a clean Carfax, I don’t want it. “Eight or nine out of 10 consumers have deplorable credit. It’s a serious problem. I deal with 600s all day. It’s a necessity of our market. “I do everything I can do to get them into a service contract. “I do a lot of six, seven or eight-year old cars. The market demanding the older cars because they just cannot aford newer cars. “Our average mileage is in 70,000s. “We service our own vehicles. Unfortunately, average reconditioning costs are over $1,000 right now, which is insane. “My most recent sale was a 2010 Volkswagen Jetta SportWagen. It had 98,000 miles. “The biggest thing I’m scared about right now (at

press time) is President Trump’s proposed 25 percent tarif. That could hurt horribly.”

VIRGINIA Paul Tashner, owner, Car Castle, Richmond, Va.: “I spent 20 years as a distributer for Chrysler-Jeep International before this. “I opened up Car Castle in 2015. I have one location. “About 45 to 50 cars are frontline ready. Then we have 15 or so behind the scenes getting prepared for sale. “(To source vehicles) I use a few of the auctions. The Richmond Auto Auction is convenient. I buy the majority from auctions and I buy from new-car dealers that I know and trust. I also take some in from trade-ins. “Within limits, I don’t care what’s wrong with the car – as long as I know what’s wrong with the car. We ix a lot of things. But I don’t want any surprises. “The other thing is in

$ the car business – whether you’re a retail buyer or a wholesale buyer – you really have to know who you are buying from. “My cars range from 10 to 15 years old. People are not buying a car, they’re buying transportation. They don’t want the car to look like a dog, but they really want it to be good, reliable transportation. I have to be within a certain price (point) to provide that. I’ll take older cars if they have the right mileage. “Ideally, I’d want 90,000 to 140,000 miles. You have to think about inancing. Banks and credit unions will inance anything back to 10 years and 140,000 and under. “Our average price on the lot is probably $5,500 to $6,000. “We sell anywhere from 15 to 25 a week. “About 40 percent of my customers pay cash because they’re buying for their kids. Then 40 percent I get inanced through credit

$

USED CAR NEWS

Compiled by Jeffrey Bellant unions. About 20 percent we’ll do in-house. I don’t inance everybody and I don’t work with the deep subprime inancing groups. “I have my eyes on a target list of vehicles I want. This market loves pickups and we get work vans because I have a lot of tradesmen who come through here. Pickups I’ll buy when I can get them, but they are so darn expensive. I also have a lot of sedans. I like American cars, but I also have a good selection of imports. “For us, reconditioning is probably between $1,000 and $1,100. I probably do half of that in-house. “For advertising, we have our website. We do some Facebook and I have a Google presence. We use CarGurus, which gives us pretty good results. “I had a beautiful 2009 BMW 528i, with 172,00 miles. It was a vehicle donated to a women’s shelter here that had asked me to sell it for them. I sold it to a repeat buyer for $7,250.”


USED CAR NEWS

June 18, 2018 • 19

WHOLESALE MARKETS Compiled by Jeffrey Bellant CALIFORNIA Tony Callaway, vice president, South Bay Auto Auction of Gardena, Gardena, Calif.: “We have three auctions. We have South Bay Auto Auction of Gardena, South Bay Auto Auction of Stockton and South Bay Remarketing Services. South Bay Auto Auction of Garedena has been in business since 1993. We have seven lanes and we’ll run however many are necessary (depending on volume). “The car business is in a very luctuating situation. It’s always about getting the inventory. We’ve got renta-car companies that come and go. On the repossession side, we’ve got a lot of credit unions that have forgiveness programs to keep people in the cars. Then you also have the Consumer Financial Protection Bureau that requires (creditors) collect diferently. “I’ve been selling cars for 38 years – in one aspect or another – and these are

the best cars ever built. So people are driving cars with 150,000 miles and they don’t think anything about it. “The other problem is that inancing is 72 months or 84 months, so you don’t even break even in a car (until late in the deal). I also think the qualiications for leases are tougher.” “We’ll run 500 to 700 a week. “I would say our (volume mix) is 70/30 – 70-percent lease and 30-percent dealer consignment. “We have a specialty sale the last Monday of every month. We have RVs, jet skis, motorcycles and a lot of vans with the cherry-pickers on there. “We’ve sold two city trolleys and a wrecking ball. You name it and we sell it. We’ve had up to 100 to 200 motorcycles before. “But typically, we’ll have about 100 pieces for the specialty sale. “We’ve had some higher months and some lower months. It’s just that there is

not a lot of inventory across the country. You’ll have companies like Toyota that sell online all weekend to their dealers and it kind of cuts the auctions out. Then you have rental car companies that have their own retail lots. “But the guys that really know cars still come to come to the auctions and kick the tires. “We have a niche with credit unions. We service 80 percent of the credit unions in the state of California. Because of that niche, we’ve been pretty consistent with getting repos. “We also have our own transportation service – a leet of trucks. It’s just for our customers. So we’re able to give them good transportation fees, which helps with repos. “With credit union cars, the average (price in the lanes) is probably $8,000 to $10,000. With the lease companies, it’s probably $12,000 to $16,000. “Dealers are looking for

cars, so the battle in the would say there are anylanes is pretty tough. It’s a where between 68-percent stretched supply.” to 72-percent. That’s pretty similar to last year. “We’re probably averaging OHIO between 700 and 800 bidder Chuck Dearing, general badges per week. Including manager, Columbus Fair our online sales, we’ll draw Auto Auction, Columbus, bidders from about 35 states Ohio: a week. “We’ve been in business “We have a lot of comsince 1959. mercial consignors: GM Fi“Volumes – with our Gen- nance, Ally, Chase, Subaru of eral Motors factory sale – America, Westlake, Nicholas have been right in the neigh- – we have a lot. borhood of 1,800 to 2,000. “We don’t have any special The closed factory sale runs sales like GSA or powersevery other Tuesday with ports. volumes from 165 to 300. “Average price across the But their volume is going block is probably $12,000 to to be down until August, so $15,000. It’s probably up a they’re running between 150 tick. and 200 now. Online activity is about – “Overall volumes have in- I would guess – 35 percent. creased in the neighborhood At our June 6 sale it was 41 of 200 to 300. I attribute that percent. to GM Finance lease returns. “All of the diferent facWe’ve run some weekly pro- tions of our auction are domotions on that. I’m going to ing well. GM Finance said guess that dealer cars make their lease returns are going up about 35 percent of our to increase within the next volumes. 30 to 45 days and we’re hop“Conversion rates vary ing our GM factory cars will from week to week. But I increase by the end of July.”


20 • June 18, 2018

USED CAR NEWS

DISCONNECTED JOTTINGS FROM Artiicial Intelligence can have diferent connotations – not real or humanly contrived and driven by continuously up-dated data but when a Volvo drives into the median or a Tesla forgets to apply the brakes it becomes “not really intelligent but bloody dangerous.” I recognize that new technologies have their risks and costs – even unto taking lives, but letting extremely developmental cars out on public roads in California, Arizona or anywhere is cavalier in the extreme. It seems to me that safety is being prostituted in the rush for fame and fortune for, what will inevitably be, an everyday function of life and travel in the future. It would appear that, in spite of all the technology, we’re at the equivalent of sailing to the horizon without knowing whether we’ll drop of the edge of the world or not. Perhaps the insurance companies will argue the toss as to who will bear the ultimate liabilities to the

TONY MOORBY

families who’ve lost loved ones at the behest of an uncommonly expensive robot. The deepest pockets are the usual suspects, regardless of responsibility. For the used-vehicle distributors, sales of these machines are going to bring some interesting posers. Fear of the unknown normally drives down prices – we see that for any product in any market and whilst it’s going to take a while for these machines to percolate to the sharp end of bidding and pricing, there will surely come a time when the rubber meets the road (or whatever they’re riding on then). Descriptions and condition reports will have a whole new meaning and probably be downloadable to a dealer who has already placed the vehicle to a nailed-on buyer. Vehicle history reports will probably depend on telemetry readouts – how many cyclists have been nearly too close for comfort. The NIADA has a huge agenda to get through in Or-

lando this year, encompassing a very well organized breakout schedule to suit the newly enlarged audience. Perhaps next year they’ll take a look at the remarketing responsibilities that will fall to their members to sell robotic autonomous cars and trucks. Figuring out the value of a two-year-old Volvo that’s never had a warm posterior grace the driver’s seat is going to be a bit of a conundrum; the car probably had a tax rebate from Uncle Sam to get it on the road, the manufacturer will, morethan-likely, have given a hefty “rebate” to get a new ass in the passenger seat – the marketing intervention could get really kinky here. Imagine four thousand autonomous leet cars being plonked down into a Florida market. Believe me, we’ve been there before – I remember Budget’s loating leet of 1982 Mercury Crown Vics being dumped in their own backyard or Hewlett Packard’s vehicles being let

loose on unsuspecting markets. It took a great deal of planning to evenly distribute their cars so that Ford’s residual values didn’t collapse. Tom Cunningham from Ford had the foresight to carefully arrange their spread. Anyone taking bets on some fairly “colorful” deals to get new leet autonomous cars into usage without thinking of the backend values? That VP will have been promoted to some junior Board position before the thick, brown, sticky stuf hits the rotating oscillator! The

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 • 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. McLaren model 4. Slang name for a much coveted sports car 7. Lithium-___ battery 9. Maxima maker 10. Blackwood and Aviator 11. Change the tires 14. General tendencies 17. BMW series 18. Louder 22. For what ___ worth 23. Lotus car 24. Executive car from Kia 25. Take advantage of 28. School of Buddhism 29. A beautiful Bugatti

31. Income 35. Prior to, poetically 36. Louspeaker system, abbr. 38. See 3 down 42. Boxers and Schauzers 43. Engine protection in the winter

Down 1. Nissan sedan 2. Rejections 3. Safety feature in the latest models, goes with 38 across 4. Measure of weight 5. Service department business 6. At the right time, 2 words

new guy will have his career tarnished for not matching the residuals at sale time and will probably be relegated to leet warrantee administration! An old Chinese curse suggests, “May you live in interesting times.” It would behoove all our related businesses making up the vehicle redistribution business to have a plan to address this misty future in close and abiding consultation with those who may think that going it alone is the best and most rewarding policy.

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Solution to the 6/4/2018 puzzle


ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES JUNE 2018

SOURCE: BLACK BOOK

2013 MODELS

2015 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected 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

Jun ‘17 11,750 15,800 6,250 7,450 7,250 11,700 5,950 11,100 11,100 13,650

Dec ‘17 9,850 13,700 5,300 6,100 5,800 10,950 5,100 9,700 9,350 11,650

Jun ‘18 8,800 12,600 5,150 5,600 5,850 10,300 5,100 9,700 8,850 11,050

Jun ‘19 7,825 10,475 4,100 4,850 4,500 8,750 3,875 7,650 7,175 8,500

Jun ‘20 6,975 8,800 3,475 4,225 3,675 7,600 3,275 6,475 6,150 7,225

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 300 S 4D Sedan V6 Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan Chrysler 200 S 4D Sedan

Jun ‘17 15,700 27,200 8,950 13,300 19,200 8,900 15,400 14,350 18,800 11,600

Dec ‘17 15,250 24,150 7,550 12,500 18,350 8,200 13,250 13,550 17,650 10,450

Jun ‘18 14,250 23,200 7,650 12,100 17,700 8,850 13,700 12,750 16,550 10,150

Jun ‘19 11,625 19,450 5,975 9,825 14,150 5,900 10,975 10,075 12,350 7,375

Jun ‘20 10,025 16,600 5,050 8,375 12,050 4,825 9,575 8,375 10,200 5,750

IMPORTED 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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

Jun ‘17 12,250 13,750 26,750 10,100 8,000 17,950 17,900 5,250 8,100 6,500 9,150 7,300 9,550 8,350

Dec ‘17 11,900 12,350 23,250 9,050 6,950 16,050 16,100 4,750 6,900 5,250 8,200 6,850 7,550 7,100

Jun ‘18 11,350 11,400 20,750 9,400 6,950 14,650 13,700 4,750 6,650 4,950 8,450 6,550 7,100 6,800

Jun ‘19 8,950 9,275 15,450 7,600 5,650 11,950 10,450 3,600 5,225 4,175 6,675 5,550 5,975 5,350

Jun ‘20 7,325 7,875 12,125 6,575 5,025 10,175 8,575 3,075 4,525 3,800 5,925 5,050 5,125 4,625

IMPORTED 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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

Jun ‘17 18,950 19,000 45,250 13,450 10,850 24,600 29,000 8,100 10,900 8,900 12,250 10,850 13,350 11,300

Dec ‘17 16,850 17,500 36,000 11,850 10,150 21,900 26,400 7,100 9,550 8,050 11,550 10,450 11,700 9,850

Jun ‘18 15,500 15,500 32,250 11,800 10,150 19,400 23,600 6,700 10,000 8,000 11,600 10,050 11,000 10,250

Jun ‘19 13,125 13,000 24,925 9,700 8,350 15,750 18,250 5,125 7,525 6,350 9,300 8,025 8,725 7,725

Jun ‘20 11,550 11,000 19,650 8,500 7,225 13,300 14,825 4,350 6,375 5,475 8,175 7,150 7,400 6,550

TRUCKS BMW X3 XDrive28i 4D SAV 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 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Toyota Tacoma SR5 Double Cab 4X4 V6

Jun ‘17 15,600 18,450 10,150 19,000 23,300 9,600 14,550 17,600 17,200 15,500 11,950 12,150 17,850 24,950 10,000 16,350 17,800 25,150 29,000 9,700 19,450 23,125

Dec ‘17 14,300 16,900 9,000 17,000 19,200 8,000 11,950 15,400 15,500 13,000 11,500 10,900 15,500 24,150 8,750 14,900 17,000 23,450 26,500 9,200 17,800 22,525

Jun ‘18 12,575 14,800 8,300 15,400 17,900 7,500 10,950 14,400 13,700 11,500 11,250 9,725 14,475 22,625 8,400 13,175 15,600 21,850 24,000 8,300 15,825 21,250

Jun ‘19 10,925 12,375 6,675 14,675 15,825 5,900 9,475 12,525 11,550 10,550 9,575 8,225 12,225 21,675 6,500 11,350 14,750 18,750 21,875 6,975 13,775 19,250

Jun ‘20 9,600 10,825 5,400 13,200 13,200 4,825 8,175 10,775 10,075 9,000 8,550 7,100 10,275 20,725 5,350 9,825 13,225 15,775 18,675 5,975 11,875 17,575

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Chevrolet Silverado 1500 LT Double Cab

Jun ‘17 24,450 25,150 12,300 34,100 13,700 19,850 24,000 22,300 19,600 15,150 17,950 22,300 29,000 12,850 25,200 23,500 27,900 23,850 48,100 12,800 25,900 23,200

Dec ‘17 23,350 22,150 11,200 31,800 12,500 19,100 22,800 20,400 20,500 14,950 15,800 20,950 28,150 11,600 24,400 22,500 26,700 22,900 42,000 12,250 23,600 23,300

Jun ‘18 21,350 20,550 10,950 29,000 11,200 17,900 21,100 19,700 18,000 14,700 13,800 19,675 26,450 11,100 22,175 20,000 25,050 21,575 39,000 12,050 21,300 20,500

Jun ‘19 17,525 17,500 8,950 25,725 8,925 14,850 17,850 17,550 15,750 12,600 11,600 16,750 24,750 8,600 18,275 18,300 22,300 19,425 34,050 9,950 18,450 19,575

Jun ‘20 14,725 15,550 7,375 21,650 7,350 12,475 14,850 15,600 13,450 11,250 9,900 14,100 23,250 7,225 15,475 16,750 19,375 17,650 29,925 8,525 15,950 17,450

2014 MODELS

2016 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

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

Jun ‘17 14,450 25,350 7,600 12,400 8,300 13,250 7,550 12,850 12,650 15,700

Dec ‘17 13,800 22,600 6,350 11,350 7,050 12,900 6,700 11,150 11,350 14,650

Jun ‘18 12,150 20,450 6,000 10,800 7,050 12,150 6,850 11,150 10,550 13,400

Jun ‘19 9,800 17,100 4,750 8,725 5,450 9,875 4,925 8,875 8,400 10,200

Jun ‘20 8,475 14,500 3,975 7,350 4,475 8,450 4,025 7,550 7,125 8,525

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan 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 Chrysler 200 S 4D Sedan Cadillac CTS Luxury 4D Sedan RWD 3.6L

Jun ‘17 19,400 11,200 14,400 20,300 11,100 16,900 16,300 22,050 12,950 28,200

Dec ‘17 17,950 9,850 13,550 20,100 9,950 15,000 15,450 20,750 11,750 25,600

Jun ‘18 16,750 9,800 13,300 19,200 9,800 14,900 13,950 20,100 11,700 24,300

Jun ‘19 13,525 7,800 11,050 15,500 7,000 12,175 11,250 14,650 8,775 20,225

Jun ‘20 11,825 6,600 9,475 13,200 5,725 10,750 9,450 11,950 7,075 17,075

IMPORTED 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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

Jun ‘17 15,550 16,350 34,250 11,350 9,550 20,300 23,300 6,050 9,300 7,900 10,900 10,000 11,750 9,700

Dec ‘17 14,700 14,500 29,000 10,250 8,650 18,400 21,700 6,000 8,350 7,200 9,800 9,450 9,500 8,650

Jun ‘18 13,650 13,000 26,750 10,400 8,600 17,000 18,700 5,150 8,200 6,650 9,950 8,350 8,650 8,350

Jun ‘19 11,000 10,725 19,850 8,450 6,900 13,800 14,300 4,150 6,325 5,575 7,750 7,100 7,050 6,450

Jun ‘20 8,975 9,100 15,525 7,375 6,025 11,675 11,600 3,525 5,375 4,875 6,775 6,300 6,125 5,525

IMPORTED CARS Acura TLX Base 2.4L 4D Sdn BMW 3-Series 328i 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata SE 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5 BMW 7-Series 750i 4D Sedan Mercedes-Benz E-Class E350 4D Luxury Sedan

Jun ‘17 22,100 22,750 16,000 11,950 29,600 10,050 11,950 10,200 13,500 11,600 15,300 12,250 65,750 35,200

Dec ‘17 19,800 20,750 14,150 10,800 27,200 9,500 11,450 9,650 12,950 11,300 13,600 12,000 54,750 30,500

Jun ‘18 18,500 19,000 14,600 11,050 24,600 8,750 11,400 9,450 12,950 10,750 12,350 11,750 51,250 27,300

Jun ‘19 15,575 15,975 11,675 9,050 20,025 6,275 8,850 7,375 10,300 8,875 9,375 9,100 38,300 21,350

Jun ‘20 13,600 13,475 10,125 7,875 16,900 5,100 7,600 6,400 9,125 7,975 8,025 7,800 29,800 17,600

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Toyota Tacoma SR5 Double Cab 4X4 V6 Chevrolet Silverado 1500 LT Double Cab

Jun ‘17 21,750 21,450 10,900 26,700 11,600 17,100 21,600 20,000 18,000 13,150 15,350 18,600 27,250 11,500 18,525 20,600 26,450 33,500 11,250 23,050 24,750 22,900

Dec ‘17 19,300 19,200 10,250 24,300 10,200 14,700 19,900 18,500 18,000 13,000 13,950 17,550 26,700 10,250 17,725 20,800 24,650 29,000 11,250 21,050 23,600 20,500

Jun ‘18 16,950 17,600 9,550 21,500 9,700 13,800 18,250 16,200 15,600 12,850 12,175 16,300 24,950 9,700 15,700 18,900 23,300 26,500 10,150 19,025 22,700 19,000

Jun ‘19 14,000 14,900 7,775 18,925 7,575 11,475 15,675 14,425 13,475 10,975 10,175 13,750 23,450 7,600 13,125 17,575 20,375 23,550 8,350 16,425 20,625 17,550

Jun ‘20 11,850 13,175 6,375 15,775 6,025 9,625 13,100 12,475 11,275 9,775 8,625 11,475 22,075 6,275 11,300 15,975 17,400 20,625 7,075 14,075 18,900 15,650

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Chevrolet Silverado 1500 LT Double Cab Honda Pilot EX-L 4D SUV FWD w/RES Toyota Tacoma SR5 Double Cab 4WD V6

Jun ‘17 26,800 29,350 14,950 36,100 14,800 21,900 24,700 23,500 22,000 16,950 19,750 23,350 30,350 14,050 26,375 24,100 29,700 56,000 14,400 25,800 30,600 29,175

Dec ‘17 25,100 26,200 13,850 33,600 14,000 20,750 25,500 21,500 21,600 17,100 18,550 22,300 30,000 13,100 25,375 24,500 29,350 52,500 14,400 25,000 29,100 28,475

Jun ‘18 24,725 23,300 13,000 31,500 13,200 19,950 23,800 21,000 19,500 16,800 16,425 21,150 28,425 12,300 23,500 22,500 27,800 44,000 13,900 22,700 26,475 26,875

Jun ‘19 20,500 19,750 10,675 28,550 10,425 16,625 20,425 19,550 16,950 14,225 13,750 18,475 26,600 9,800 19,950 20,225 24,925 38,750 11,675 20,950 22,825 24,675

Jun ‘20 17,275 17,500 8,975 24,500 8,500 14,075 17,175 17,450 14,725 12,700 11,700 15,875 24,975 8,400 17,075 18,550 21,850 34,000 10,025 18,825 19,725 22,650


22 • June 18, 2018

USED CAR NEWS

AROUND THE BLOCK CAROLINA RAISES FUNDS

TEEING UP: Carolina Auto Auction owner Patty Stanley visits with Miss South Carolina Suzi Roberts and the Clemson Tiger Cub during the auction’s gold fundraiser.

Carolina Auto Auction hosted its 13th annual charity golf tournament. The auction combined the golf tournament with a special dinner and various fundraising efforts during a 3-day event and raised $100,000 toward melanoma research at The Winship Cancer In-

stitute of Emory University. The festivities kicked off May 14 with a special Legacy dinner and VIP auction, along with special guest speaker Frank Martin, head coach of the University of South Carolina basketball team, which made the Final Four in 2017. CAA sold tickets to the dinner and auc-

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tion where 13 live auction items such as a Bret Michaels signed guitar, a Charlie Daniels fiddle, a Wheel of Fortune prize package that includes tickets to the show, were auctioned off. Carolina also had 13 silent auction items available to the highest bidders. The action continued the next day with the four-man captain’s choice event held at Cobbs Glen Country Club. This year the auction had such an overwhelming response from golfers that it had to split the golfers into morning and afternoon flights in order to accommodate the 160 golfers signed up. Carolina Auto Auction brought in Miss South Carolina Suzi Roberts, along with the Rally Cats and Clemson Tigers mascot, to support the event as special guests. CAA also held a special raffle for its attending golfers.

Many late model 16’s, 17’s & 18’s

Auction Celebrates 75th Anniversary Manheim Darlington celebrated its 75th anniversary by hosting a special Diamond Jubilee sale. The auction evolved from Clanton’s Auto Auction, established in 1943 with a single lane, and now operates 12 lanes. Month-long festivities included holding four special sales ofering more than 2,000 units, hosting a dealer appreciation event and auctioning of a Polaris ATV with $9,300 going to the American Red Cross. “Our seven decades of success would not be possible without our team members, loyal clients and community support,” says Manheim Darlington General Manager Danny Brawn. In addition, NextGear Capital offered special promotional credit terms of 75 days for $75. Gary’s Auto Sales was the recipient of a restored 1975 Chevrolet C-10 pickup truck.

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: jeff@usedcarnews.com

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Used Car News 06/18/2018  
Used Car News 06/18/2018