UsedCarNews.com
December 17, 2018
2018 MOVERS AND SHAKERS
Mike Jackson
Lynn Weaver
When Jackson took over as CEO of AutoNa-
Weaver became the irst executive director
This was Mulvaney’s irst full year running
tion Inc. in 1999, his irst move was to shut-
for the Independent Auction Group. Weaver
the Consumer Financial Protection Bureau
ter all of the company’s standalone used-car
has been involved with the group for years
and much has changed under his leadership,
stores. He leaves his post as the company is
during his time as general manager of Amer-
including its name. Mulvaney has insisted on
making investments in the future of used-car
ica’s Auto Auction – Harrisburg. In his new
calling it the Bureau of Consumer Financial
sales, including paying $50 million for 7 per-
role, Weaver will focus on policy initiatives
Protection. Whatever it’s called, the bureau
cent ownership of online retailer Vroom.
and other issues.
has been much less aggressive this year.
FLOP OF THE YEAR: CARS Consumers want trucks and SUVs. Or, at the very least, cars that look like SUVs. But they don’t want actual cars. General Motors and Ford have received that message and took a hatchet to their line-ups as a result. In April, Ford announced it would discontinue all cars except the Mustang and the Focus in the United States. In November, GM followed that lead by announcing plans to end production of most cars, including the Cruze, Impala and Volt. Consumers’ demand for trucks, SUVs and crossovers isn’t news for dealers who have been paying top dollar for these vehicles at auction. The good news is that prices should moderate next year as of-lease inventory continues to move more in line with the current market. Meanwhile, prices on used cars will face further pressure as manufacturers try to entice consumers with incentives.
Rush - Dated Material
Mick Mulvaney
COUP OF THE YEAR: NIADA BUYS NABD The National Independent Automobile Dealers Association increased its oferings to its members with the acquisition of the National Alliance of Buy-Here, Pay-Here Dealers. “NABD has provided a strong voice and specialized educational resources to more than 14,000 members over the past 19 years,” said NIADA CEO Steve Jordan. “I am pleased that the NABD legacy will live on within NIADA as we continue to develop new ways to serve the entire used motor vehicle industry.” NIADA merged NABD’s conference into its own this past summer and combined the two groups’ fall conferences into one, as well.