Used Car News 10/18/2021

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Used Car News

10/18/2021

BHPH Faces Challenges After Pandemic By. Jeffrey Bellant

Buy with Total Confidence.

IN THIS ISSUE:

Rush - Dated Material

• DEALER HONORED • USED VALUES • RETAIL MARKETS

In some ways, the challenges of the pandemic were made for the buy-here, pay-here industry. Their customers typically live on the edge anyway, but the economic shutdown provided stimulus payments and enhanced unemployment benefits that in many cases exceeded their typical paychecks. While the enhanced unemployment benefits ended in September, many families are now receiving an increase in the typical Child Tax Credit benefit. There are headwinds, however, as the labor shortage continues, lenders recede from the market, fuel prices rise and inflation creeps up. Dealers looking for solutions have a good place to start at the 2021 NIADA/NABD Automotive Finance & BHPH Summit on Nov. 1-3 in Orlando, Fla. Larry Dixon, NIADA’s vice president of industry insights and analysis, said many of the key issues in the industry will be addressed in the upcoming conference. “They realize that we’re in this extraordinary period of time that’s not going to last forever,” Dixon said. “They know that money that’s been pumped into the economy the last year-and-a-half is gone. That’s gone.” It may not be a dramatic, immediate shift, but they must prepare for the shift, he said. “Finance is going to be a big part of this show, as well as access to capital,” Dixon said. “Those are always a challenge, but it’s especially going to be a challenge moving forward.” The current market may cause lenders to tighten up a bit, as they often do during turbulent times. Dixon said it makes it especially challenging for dealers just starting out.

“Lenders are going to be less aggressive, a little bit more choosey,” he said. For dealers who have questions, the November conference will feature a panel of lenders. During the pandemic, when some states were slow to deem car dealers as essential businesses, it was the service departments that kept some dealerships afloat. “It is going to be even more important for independent dealers going forward,” said Dixon, who also leads 20 dealer groups. “The competitive environment is red hot now, going to be white hot, close to the sun and standing on the sun in the future.” In addition, there are large public auto dealerships making acquisitions, like Asbury Automotive’s $3.2 billion deal to acquire Larry H. Miller Dealerships. “So, independent dealers are really going to need to leverage service going forward,” Dixon said. They will also have challenges in the regulatory and compliance envi-

ronment under the new administration. Dixon said the BHPH dealers he talks to know there are hurdles ahead. “But their outlook isn’t dire,” Dixon said. “They’re adopting a prudent, informed outlook.” Of course, dealers are concerned about inflation and how high that gets and how it might affect costs, prices and interest rates, he said. Changes in the tax code and how some of these additional government benefits will affect tax season is also a topic on the agenda next month. Dixon, who comes from the new-car background – previously working for the National Automobile Dealers Association – said independents need support from the NIADA and 20 groups. Dixon said when it comes to 20 groups, you bring one idea to help the group and you’ll leave with 20 good ideas. The conference will also look at business development centers, inventory acquisition, insurance and healthcare.

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Independent Dealers 10/18/2021

96-Year-Old Dealer Receives ‘Historic’ Honor By Jeffrey Bellant

St. Clair Shores, Mich. – Usedcar dealer Maurice VanCoillie made history on Sept. 25. Nearly 60 people stood outside in a steady rain as the local historical commission dedicated a marker at the site of his dealership, VanCoillie’s Used Cars, established in 1958. Family, employees, auto industry colleagues, city officials and friends listened as the city honored the man known to everyone as Mr. Van. The 96-year-old dealer, cited as the oldest active licensed dealer in the National Independent Automobile Dealers Association, was humbled by the event. “I was almost speechless. I never thought there would be something like this,” he said. “I didn’t wind up like Bill Gates, but I can still drink better beer.” Van got his start like so many other

dealers, selling cars on the side. But in 1947, at the age of 22, he had been buying and selling so many cars that the State of Michigan informed him he needed a dealer’s license. The rest is history. In 1948, the future site of his dealership was occupied by Dyer’s Riding stables. So, Mr. Van rented another property to start C&M Motor Sales. But two years later, he was drafted into the Army and served in the Army of Occupation in Europe following World War II. Returning from the Army in 1958, he purchased the former riding stables and Van’s Used Cars was born. Along with his wife, Marge, they raised their six children in St. Clair Shores, Mich., just outside of Detroit. He remains an active member of the community. Continued on page 6

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People in the News 10/18/2021

Hackett Inducted into Hall of Fame Frank Hackett, former chief executive officer of the National Auto Auction Association, has been inducted into NAAA’s Hall of Fame. The honor was presented to Hack-

Hackett holds a Master of Public Administration from the University of Maine. Before joining NAAA in 2004, he served as executive director of the American Society for Law Enforcement Training and as

Frederick, Md. Autenrieth grew up in the auto auction industry. His parents, Henry and Patty Stanley, are both NAAA Hall of Fame members, and they are owners of the Stanley Autenrieth

Volume 27 | No.10 Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at : Used Car News P.O. Box 80800 St. Clair Shores, MI 48080 Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 www.usedcarnews.com Charles M. Thomas Founder (1947-2002) Lynda R. Thomas, Publisher Emeritus Colleen Fitzgerald, Publisher

MIKE COLACCHIO ett during an NAAA Executive Committee meeting at NAAA’s headquarters. Hackett retired in July. During his 17-year tenure, Hackett worked to bring together corporate and independent auctions to make collective decisions to advance the auto auction industry. He now serves in a consultant role for the association.

FRANK HACKETT

ERIC AUTENRIETH

president and CEO of Volunteers of Auction Group, which consists of America Oklahoma. Indiana Auto Auction and Carolina Auto Auction. With a successful 24-year career Autenrieth Elected VP Eric Autenrieth has been elected in the auto auction industry, Autenvice president of the National Auto rieth is the owner of Indiana Auto Auction Association for the 2021- Auction and the general manager 2022 term. He was elected during a of Carolina Auto Auction. Stanley virtual all-member meeting broad- Autenrieth Auction Group has capcast from NAAA headquarters in tured several Auction of the Year awards from multiple commercial accounts under Autenrieth’s leadership. He is also the former president of ServNet Auction Group. Autenrieth is a graduate of Auction Academy and is CAR certified. He has been a dedicated supporter of NAAA and served as president of the NAAA Midwest Chapter and currently serves as chair of the board of the NAAA Southern Chapter.

Colacchio Joins AutoLeadStar AutoLeadStar announced that Dealer Inspire alum Mike Colacchio has joined the team as vice president of sales. With decades of sales experience in automotive tech companies including Dealer Inspire, Dealer.com, DealerTrack, and Cox Automotive, Colacchio brings a wealth of knowledge and industry expertise to the position. Colacchio will be responsible for building out the sales team, introducing new AI-powered, connected solutions to create highly accurate one to one car buyer matches, and expediting new partnerships with both dealer groups and technology providers. “Mike was a natural fit for our company as the vice president of sales due to his unwavering support for putting the dealer first,” said AutoLeadStar CEO Aharon Horwitz.

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

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.

C R O S S WO R D PAGE 14


Industry Insights 10/18/2021

Wholesale Prices Hit Highs, Commercial Supply Craters By Jeffrey Bellant

The Manheim Used Vehicle Value Index conference call earlier this month showed crazy numbers, from record values to record shortages of commercial vehicles in the wholesale funnel. The bottom line reflected continued high demand facing low supply entering the fall. “Despite COVID, the consumer has been spending all year,” said Jonathan Smoke, Cox Automotive’s chief economist. “It surged, starting in March, buoyed by stimulus and recovery in activity in the hard hit traveling and services (industry).” Outside of travel, spending is still up compared to 2019. “Vehicle related categories continue to be strong with pricing power also playing a role,” Smoke said. New-car sales hit a wall in June as supply issues hit.

“Used is clearly performing better than new,” Smoke said. “Used inventory was slightly up year-overyear, but down 21% against 2018. Used supply is not far from normal and, in fact, is inching very close to normal.” More choices on used-car lots draw some consumers away from new-car lots with a limited supply. Another topic was the Manheim Used Vehicle Value Index, which Smoke said, “provides a single measure of used vehicle price changes that is comparable over time but also evolves to continue to represent the vehicles actually being sold.” Last year, the Manheim Index was up 14% year-over-year. Appreciating values beginning in January 2021, led to records in February through May, Smoke said, followed by declining values in June and July. A smaller decline in Au-

gust was driven by the seasonal adjustment, he added. “By mid-September, we were seeing strong demand,” Smoke said. Kayla Reynolds, Cox economic and industry insights manager, said wholesale prices, on mix mileage and a seasonally adjusted basis, rose 5.3% month-over-month in Septem-ber, which caused the index to hit “a new historical high at 204.8, a 27.1% increase from a year ago.” Vans topped all vehicle segments for percentage change at nearly 50 percent year-over-year in the index. SUVs were next at 28.2%. “Pickups have swung from being the strongest gaining segment in the first part of the pandemic, to the weakest now,” Smoke said. Kevin Chartier, vice president of Manheim Consulting, said the MMR Index for 3-year-old vehicles hit an all-time record at 129%. The

trend is similar for luxury vehicles and 1-year-old models both hitting MMR records. He said commercial used vehicle supply at auctions is “well below historical norms.” Off-lease vehicles are typically the largest source of vehicles of commercial vehicle supply at auctions. Even though the total number of leases scheduled to terminate are at record highs, the number making their way into auction supply channels are at record lows, Chartier said. “This is due to the incredible surge in resale values and the corresponding increases in the equity positions of the terminating lease vehicles,” he said. “Normally, 60% or more of the terminating leases find their way into the wholesale (market).” Now, only about 15% are going to auction, Chartier said.

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News 10/18/2021

Historic–Continued from page 3 On the automotive side, Mr. Van was one of the founders of what later became the Michigan Independent Automobile Dealers Association. He’s a sponsor of the local Harper’s Charity Cruise, where he usually brings in a group of line dancers dressed in sock hop attire, dancing to the oldies at his lot. Mr. Van has also won many honors as part of the Michigan Independent Automobile Dealers Association. He was a Michigan Quality Dealer of the Year, a winner of the association’s President’s Award and served as association president during his career. Annette Chapman, executive director of the Michigan IADA, and fellow dealer Otto Hahne, a longtime friend of Van and president of the association, were also at the event. Back in 2016, Hahne presented VanCoillie with the Michigan IADA Dignity Award, one of the highest

honors from that association. This latest award, however, may be the sweetest as it marks a lifetime of work and service in his community. Josh Dudley, who’s done work for Van over the years, also stood in the rain to watch his friend receive his honor. “Van is good people,” he said. After the dedication of the historical marker, Van invited those present over to a local watering hole for pizza and beers. He said he was nervous because he didn’t expect such a big turnout. The private room he rented was packed, and everyone enjoyed Van’s moment. Ray Claes, a friend of Van’s in the local Belgian-American Century Club, may have offered the best compliment to Mr. Van. “You need him, he’s there,” he said. “He loves everybody, and everybody loves him.”

Put the power of Chase Auto to work for you Your customers want to choose from quality vehicles, so you need a national industry leader who can deliver. That’s Chase. We offer: • A broad range of vehicles — from economy to luxury — upstream and through auctions nationwide • Convenient online and in-lane vehicle availability with on-site Chase remarketers Choose Chase owned vehicles at ADESA.com and Manheim.com.

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1 The tradename Subaru Motors Finance (SMF) and the Subaru logo are owned by Subaru of America, Inc. (Subaru) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase. 2 The tradename Maserati Capital USA and the Maserati logo are owned by Maserati North America, Inc. (Maserati) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase. 3 The tradename Aston Martin Financial Services and the Aston Martin logo are owned by Aston Martin Lagonda of North America Inc. (Aston Martin) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase. 4 The tradenames Jaguar Financial Group and Land Rover Group and their respective logos are owned by Jaguar Land Rover North America, LLC (JLR) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Auto finance accounts are owned by Chase.

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

21-014 (2021)


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Retail Markets 10/18/2021 Compiled by Ed Fitzgerald

INDIANA David Lewis, owner, Lewis Motor Sales, Lafayette, Ind. “I’ve been in business 34 years. “We didn’t have to shut down for COVID. We are very lucky that we have guys out on the road buying cars for us. We were able to keep our supply of cars up, which obviously made a big difference in keeping our lot full. We also have a wholesale business. “One thing we’ve noticed is we’re getting a lot of good trade-ins. We recondition them, as long as they’re not junk, and we have been able to sell some $10,000-$12,000 cars that we normally would not have sold. We have two mechanics and both have been with us a long while. We do what we need to do to take care of them. “Our reconditioning costs

have gone up a little bit and the reason is because with trade-ins, people are trading them in because there’s something wrong with them. And then we fix it and retail it. Tire prices have also been up a little bit and if the cars need some paint work, we’ve got a couple good body shops we work with. But even if we take in a 120,000-mile car we make it look as good and as safe as we can. Because there’s a big market for those cars and we are here to take care of the customer after the sale. “We usually have 90-100 cars on the lot. We average about 70 retail sales a month. “We go to the ADESA auction and we sell cars there. We go to the Auto Dealers Exchange on Wednesdays and we sell there. We also go to the Indianapolis Dealers Exchange in Whitestown. “The biggest thing is to be

there to ward off any problems. I’m 71 years old and I work a lot, but my theory is if the guy’s got a problem, fix it. “The cost of taking care of a customer, it’ll come back to you. You make one guy happy and he’ll tell a few people, but if you piss off somebody, they’re going to tell a lot of people. Spend the money and keep them happy. “The last car we sold was a 2020 three-quarter-ton Duramax pickup. It had 20,000 miles and we sold it for $69,000.”

NEW MEXICO Luis Soto, owner, Sun City Motors, Albuquerque, N.M. “We’ve been in business for nine years, all in the same location. “COVID caused us to shut down on two occasions. The first time they shut us down for roughly two weeks. They

kept extending it, but they allowed online sales and deliveries, which allowed us to keep doing business. “Our average inventory used to be between 40 and 50 cars. Right now, we’re down to 25-35. We sell around 25 units a month. “Trucks are our No. 1 seller. Here in New Mexico, we’re known for our trucks, and they’re kind of hard to come by right now. “For auctions we go to Manheim locally, and also out of El Paso and Phoenix. We get some from Texas Lone Star and a few from EPI (El Paso Independent Auction). “We don’t do any buy-here, pay-here. We work with all types of people: credit, no credit. The (size of ) down payments jumps around. “Our reconditioning of vehicles has been taking longer and gotten more expensive.

I used to have my own guys doing detailing here, but everyone is gone. It’s hard to get people to work. We farm out work but everyone’s kind of in the same boat, too much work and not enough employees. “We try to stay under 12 years for the age of a vehicle and under 150,000 miles. Sometimes we get diesel trucks that are more than that. “We do a lot of Facebook advertising and in local magazines. But mainly, Facebook is what we do. “If you’re going to be in this business, you have to go all in and work your butt off. It’s not an easy business to be in. There are a lot of headaches. “The last car I sold was a 2015 Chevy Colorado with 80,000 miles. “We sold it for $21,000.”

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Wholesale Markets 10/18/2021 Compiled by Jeffrey Bellant

IDAHO Russ Smith, owner/general manager, Dealer’s Auto Auction of Idaho, LLC., Nampa, Idaho “We have four physical lanes but use eight blocks. So, we run eight lanes of cars down four physical lanes. “Volumes have been good. We are right at that 400 number – or a little over 400 – each week. I think we ran 450 on Oct. 6. Our average (conversion rate) for the year is 70%. “We have 225 (bidders) that show up in the lanes and another 150 or so online. “Our average price is somewhere around $11,500. “We had to shut down for three weeks (during the pandemic). Then we tried dipping our toe a little bit into online-only. But we didn’t’ have the success that we had hoped for. So, we put in all the safety (measures),

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put people back in the lanes and it’s been gangbusters ever since. “Independents – all dealers, really – are tired of paying what they have to pay to get a car. But they understand they have to buy them to sell them. They’re going a little bit further – traveling a little bit more – to get them. “Everybody expects this current market to end at some time. So, the smart dealers are not buying 50 cars a whack. They’re buying 10 a week to limit their exposure. “We have a GSA sale and we also do an RV/powersports sale, which had been insane. I personally bought a trailer back in 2018. I was only using it once or twice a year. So, I hauled it to auction six months ago and sold it for more than I paid for it in 2018. “We run the RV/powers-

ports sale every other week. Prices are still through the roof, but it’s hard to find anything. We’re running about 40 to 50 every other week. “At one point, if you could drag something across the block and it wasn’t on fire, you could sell it. “In the overall car market, I don’t think we’ll have a significant slowdown or dip, outside of seasonal slowing.”

TENNESSEE Brandon Derrick, general manager, Memphis Auto Auction, Memphis, Tenn. “The auction has been here since the early 1990s. We run four drive-thru lanes. We also have an in-op/powersports lane. “Our inventory is actually up the last couple of years. That’s been kind of a blessing. We’ve picked up some extra accounts, so that kind of helps us.

“We run about 450 a week. Our conversion rates are 60to 65 percent, week in and week out. “We’re 60% dealer 40% repo. The repo world came to a halt because of the moratorium. The repo companies did see a lull. It’s coming back. We’ve definitely seen an increase in repos. I predict it will get stronger. “I would say in-lane and online, we have over 300 bidders. (Of those) we average 225 to 230 dealers inlane. Because of COVID-19, we drew some people that we weren’t getting, and they became new, long-term customers because of the customer service. “Dealers still think prices are crazy high. They’ve slowed down on buying the rougher stuff. They’re trying to buy nicer pieces, just because it’s harder for them to get parts.

“They say if they’ve got the cars, they’re selling them. They saw a small slow down, but no more than normal. But they’re making money per unit. “We do a powersports sale the third sale of every month. On average we’ll run about 15 units and sell 50%. Those are campers, RVs, side-bysides and motorcycles. “We also do a salvage sale every week and that’s about 60 to 70 of our units. “We sell some GTB (government units) in one of our lanes, too. It rotates, depending on volume. It’s once a month or sometimes twice a month. Those will be trucks, cars, tractors – a little bit of everything. Those sales will be 25 or more. “I think overall, we’re going to have a strong finish to the year and a strong first quarter as well.”


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A broad selection of pre-owned vehicles from an industry leader ADESA Boston November 5, 12, 19 508-626-7000

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ADESA Brasher’s November 10 916-991-5555

Columbus Fair AA November 17, 24 614-497-2000

ADESA Charlotte November 4, 18 704-587-7653

ADESA Boston November 19 508-626-7000

Manheim Milwaukee November 10 262-835-4436

Manheim Palm Beach November 17 561-790-1200

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ADESA Golden Gate November 2, 30 209-839-8000

Manheim Nashville November 17 615-773-3800

Manheim Pennsylvania November 4, 18 800-822-2886

Manheim Atlanta November 3, 4, 18 404-762-9211

Manheim Pennsylvania November 4, 5, 12, 18, 19 800-822-2886

Manheim Atlanta November 3 404-762-9211

Manheim New Jersey November 10 609-298-3400

ADESA Chicago November 12 847-551-2151

Manheim Dallas November 9, 10, 24 877-860-1651

Manheim Phoenix November 4, 11, 18, 23 623-907-7000

Manheim Dallas November 9 877-860-1651

Manheim Orlando November 9 800-822-2886

ADESA Cincinnati/Dayton November 16 937-746-4000

Manheim Denver November 10 800-822-1177

Manheim Pittsburgh November 10 724-452-5555

ADESA Golden Gate November 2, 16, 30 209-839-8000

Manheim Detroit November 4, 18 734-654-7100

Manheim Riverside November 9, 11 951-689-6000

ADESA Indianapolis November 2, 16, 30 317-838-8000

Manheim Fredericksburg November 11 540-368-3400

Manheim Seattle November 3, 17 206-762-1600

ADESA Kansas City November 2, 16, 30 816-525-1100

Manheim Milwaukee November 10, 24 262-835-4436

Manheim Southern California November 4, 18 909-822-2261

ADESA Lexington November 11 859-263-5163

Manheim Minneapolis November 3 763-425-7653

Manheim Tampa March 4, 11, 18 800-622-7292

ADESA New Jersey November 4, 18 908-725-2200

Manheim Nashville November 17, 23, 24 615-773-3800

Manheim Texas Hobby November 4, 18 713 649-8233

ADESA Salt Lake November 23 801-322-1234

Manheim New Jersey November 10, 24 609-298-3400

Southern AA November 10 860-292-7500

ADESA Tulsa November 12 918-437-9044

Manheim New Orleans November 24 985-643-2061

Manheim Atlanta November 3 404-762-9211

Manheim Riverside November 11 951-689-6000

ADESA Boston November 12 508-626-7000

Manheim Fredericksburg November 11 540-368-3400

Manheim Pittsburgh November 10 724-452-5555

ADESA Salt Lake November 23 801-322-1234

Manheim New Jersey November 24 609-298-3400

Manheim Seattle November 3 206-762-1600

Columbus Fair AA November 17 614-497-2000

Manheim Orlando November 2, 30 800-337-8491

Manheim Southern California November 4, 18 909-822-2261

Manheim Denver November 10 800-822-1177

Manheim Pennsylvania November 5, 19 800-833-2886

Southern AA November 10 860-292-7500

ADESA Golden Gate November 2, 30 209-839-8000

Manheim Milwaukee November 10 262-835-4436

Manheim Atlanta November 3 404-762-9211

Manheim Nashville November 17 615-773-3800

Manheim Dallas November 9 877-860-1651

Manheim Palm Beach November 17 561-790-1200

Manheim Pennsylvania November 4, 18 800-833-2886 Manheim Riverside November 11 951-689-6000

Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information. The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. The Land Rover word mark, the Land Rover and Oval logo, and Land Rover Financial Group are trademarks of Jaguar Land Rover Limited and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Maserati Capital USA, the Maserati logo and model designations are registered trademarks used by JPMorgan Chase Bank, N.A. (“Chase”) under license from Maserati S.p.A. The tradename “Aston Martin Financial Services” and the Aston Martin logo are owned by Aston Martin Lagonda Limited and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Neither JPMorgan Chase Bank, N.A. (“Chase”) nor any of its affiliates are affiliated with ADESA, Inc. or Manheim, Inc. Each auction is solely responsible for their website content, sales events, promotions, fulfillment and operation of the auction. ©2021 JPMorgan Chase Bank, N.A. Member FDIC (21-0011) 11/21


Wholesale Numbers 10/18/2021

seg/type

make/model/name

2020-10-01

2021-04-01

2021-10-01

2022-10-01

2023-10-01

---------

--------

---------------

----------

----------

----------

----------

----------

2017

Car

Toyota Corolla

11500

9950

13000

10450

8725

2017

Car

Nissan Altima

11450

10400

12225

9300

7425

2017

Car

Chevrolet Impala

13950

12625

14900

11575

9375

2017

Car

Kia Soul

10700

9425

12200

9275

7475 14100

2017

Car

Chevrolet Camaro

19350

18300

21525

16900

2017

Car

Kia Rio

7000

6650

8800

6400

4925

2017

Car

Acura TLX

16500

14900

17125

13100

10650

2017

Truck

Ford F150

30600

27700

28000

22675

19400

2017

Truck

Chevrolet Silverado 1500

30200

29300

30800

25000

21650

2017

Truck

Ram 1500

26600

26200

27600

22425

19225

2017

Truck

GMC Sierra 1500

34000

33300

34500

28375

24525

2017

Truck

Ford F250SD

31700

32500

36500

30125

25025

2017

Truck

Chevrolet Tahoe

34975

33525

37950

28475

22825

2017

Truck

Chevrolet Silverado 2500

29800

30500

35200

28700

24950

2017

Truck

Ford F350SD

31400

34500

41000

32075

26575

2017

Truck

Dodge Grand Caravan

12050

11025

13825

10325

8375

2017

Truck

Chevrolet Suburban

34150

31875

37275

28750

23550

2018

Car

Toyota Corolla

13100

12000

15550

12300

10200

2018

Car

Nissan Altima

13125

12050

14750

11150

8875

2018

Car

Chevrolet Impala

15700

14100

17775

13775

11100

2018

Car

Kia Soul

12000

10825

14150

10800

8725

2018

Car

Chevrolet Camaro

20900

19650

23375

18375

15325

2018

Car

Kia Rio

8900

8475

11375

8300

6350

2018

Car

Acura

20650

18425

20950

15875

12775

2018

Truck

Ford F150

33600

30500

32000

26425

22950

2018

Truck

Chevrolet Silverado 1500

32000

31300

33800

27575

24000

2018

Truck

Ram 1500

28100

28200

30100

24875

21450

2018

Truck

GMC Sierra 1500

37500

37300

38500

31875

27625

2018

Truck

Ford F250SD

33200

35300

40200

33450

28075

2018

Truck

Chevrolet Tahoe

37450

37475

42625

32475

26525

2018

Truck

Chevrolet Silverado 2500

31900

33000

37800

31275

27400

2018

Truck

Ford F350SD

34100

37500

44500

35125

29300

2018

Truck

Dodge Grand Caravan

13800

13225

17600

13125

10600

2018

Truck

Chevrolet Suburban

36100

36300

41975

32575

26950

2019

Car

Toyota Corolla

14350

13800

17400

13775

11450

2019

Car

Nissan Altima

16000

15000

18750

14050

11000

2019

Car

Chevrolet Impala

18225

17125

20875

16225

13050

2019

Car

Kia Soul

13150

11800

15975

12400

10025

2019

Car

Chevrolet Camaro

22500

21450

24700

19925

16825

2019

Car

Kia Rio

10600

10125

13025

9625

7475

2019

Car

Acura TLX

23950

21150

23650

17950

14425

2019

Truck

Ford F150

34600

32500

35700

29625

25950

2019

Truck

Chevrolet Silverado 1500

36700

35800

37500

30975

27150

2019

Truck

GMC Sierra 1500

42500

42800

44600

37500

32950

2019

Truck

Ford F250SD

36500

37800

43000

36375

31050

2019

Truck

Chevrolet Tahoe

41800

41225

47750

37200

31000

2019

Truck

Chevrolet Silverado 2500

37400

36500

40000

33425

29575

2019

Truck

Ford F350SD

39000

40500

47500

38150

32475

2019

Truck

Dodge Grand Caravan

15400

16875

22050

16400

13125

2019

Truck

Chevrolet Suburban

40950

42250

48475

37950

31650

2020

Car

Toyota Corolla

15950

15600

18800

15425

13150

2020

Car

Nissan Altima

18000

16775

20175

15275

12150

2020

Car

Chevrolet Impala

21050

20125

23800

18750

15275

2020

Car

Kia Soul

15700

14050

18175

14450

11850

2020

Car

Chevrolet Camaro

25500

24575

26325

21750

18750

2020

Car

Kia Rio

12400

11875

14950

11275

8875

2020

Car

Acura TLX

27450

24450

26625

20250

16325

2020

Truck

Ford F150

38500

35300

38800

32950

29475

TLX

2020

Truck

Chevrolet Silverado 1500

40000

38700

39500

33075

29475

2020

Truck

GMC Sierra 1500

47500

45300

47300

40325

35825

2020

Truck

Ford F250SD

41500

41800

45500

39425

34525

2020

Truck

Chevrolet Tahoe

46625

46075

52750

42150

35975

2020

Truck

Chevrolet Silverado 2500

41400

43100

46700

39550

35375

2020

Truck

Ford F350SD

44000

44800

50000

41725

36725

2020

Truck

Dodge Grand Caravan

17500

19400

24625

18775

15425

2020

Truck

Chevrolet Suburban

46000

46600

53300

42525

36075

Actual Wholesale and Projected Residual Values

MY

Source: Black Book



Disconnected Jottings From

Tony Moorby 10/18/2021 Tony Moorby

Can you believe the Moorby canine compound has expanded, yet again? The profoundly ugly, now five-year-old, French bulldog, Kevin, has not one but two new buddies. Two more Frenchies - fawn ones. Only slightly less expensive than Kevin (who was vastly overpriced in the first place!). They arrived as close to grandson Aiden’s birthday as nature would allow and bank balances would bear. On a per pound basis Plutonium 239 would come cheaper! Upon their arrival, Gus and Stuart appeared to be two tiny rumpled blankets with folds that disappeared into the next county. They looked like those bookend shoes that people have bronzed for posterity. Though I don’t get it, the pure joy on Aiden’s face when he first saw his birthday surprise was as

infectious as his shrieks of delight, followed by rolling on the floor with the puppies vying for attention. Aiden is as attracted to dogs – any dogs – as I am not. A while ago we went to Cars and Coffee in Nashville and while I was mooching around all that magnificent metal, Aiden was scouting the equivalent of Canines and Coffee. He always asks permission to approach other peoples’ dogs who seem to quickly recognize his easy affection, expressed as openly on a Labrador as on a Lamborghini. As the new arrivals were busy acquainting themselves with their new surroundings, their exhilaration was expressed (literally) at the wrong end of the dogs. As far as I was concerned this was an immediate reminder why dogs belong in caves not houses. This is how your

affection is repaid – thanks a bunch. Kevin, all the while, has one of those “What the…!” expressions as those famously bulging eyes test tension and gravity. He doesn’t have a tail (naturally, not docked), not even a nub, so it’s hard to tell whether he’s ecstatic or horrified. Bella, who you may remember from previous jottings, bestows as much affection on me as I do on her, apart and aloof, with her signature bad-mooded growl at the least incursion upon her personal space. My son-in-law, Mike, is an Iron Man and a triathlete, having competed in events all over the country and who seems to spend his life, when not embracing the family, bent over training equipment, cycling, running and swimming. He’s as hard as nails; that is until dogs are involved. He

By Myles Mellor

39. Hyundai 4-door

12. Mitsubishi SUV

1. Nissan model

42. Land Rover model

4. Jeep model

45. Ariz. neighbor

14. Transmission and electrical, for example

10. “Pants on fire” guy

47.Not often found

11. Porsche coupe

48. He bent spoons telepathically, first name 49. Former Toyota model

15. Stop for an Indy driver

51. Swedish care maker

17. Hyundai 4 door sedan 18. Q50 and QX60

55. Classic AMC station wagon

23. GM’s Prizm, once

56. Wrench or hammer

24. The bottom line, to a consumer

Down

25. Reputation

1. Car repair personnel

28.T ech experts

2. Jaguar model, 2 words

30. North-eastern state, abbr. 31. Toyota SUV 33. Car’s pronoun 34. Classic GM brand

53. Kia model

3. Mazda model

16. Indicates a turn coming up 19. Word in wedding announcements

1

2

pent-up energy goes frenetically wild, affording the owners more exercise than the dogs. As curmudgeonly as I may seem, these moments of what make a family tick bring a smile in times of all the madness around.

11

12

18

25

26

27

9

14

19

20

21

29

30 32

34 36

29. Popular car color

48

40

35

37

38

41

32. Curve

22

24

28

33

45

40.“___ Wash” (Rose 6. Toyota fuel cell vehicle Royce song) 41.Go up a hill 7. Golf score

8

31

27. Car designers

5. “Bravo!”

7

23

39

39.Car model 1991 “Legend”

6

16

17

26. Urban throughway

37.Audi ___ Coupe

5

13

15

22 Belief system

35.Design elements

4

10

20. Subaru SUV .1 Bumper __ bumper

3

42

43

46 49

44

47

50

51

53 55

50.“___ for Cookie” (“Sesame Street” song)

56

1

2

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4

P

A

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A

5

T

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11

6

F

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7

N

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8

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P

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10

12

A

K

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C

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13

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14

15

N

I

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16

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22

C

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A

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43.Passing craze

36. “___ true!”

8. Middle Eastern language

44.AMC’s Rambler ____

car construction

38. Vehicle number, abbr.

9. Go downhill fast

46.“Hold it!”

44 Promotional item

H

28

D

29

E

E

30

M A

C

A

N

G

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S

I

S

31

43 Light metal used in

S

20

23

E N

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17

N

19 21

54.Depart

3

R

9

A

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52.Back then

52

54

C

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32

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33

L A 37

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43

45

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38

42

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34

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35

Solution to this puzzle in the 11/8/2021 issue. Call 1.800.794.0760 for a FREE subscription.

14

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

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

Across

13. Testarossa and the Berlinetta, e.g.

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

becomes a melting, blithering, simpering soul in their presence and employs a language completely disassociated with his frame and stature. While the puppies are being spoiled by all and sundry, present company excepted, the rest of the Moorby menagerie goes on. Robby’s Retriever, a slender, elegant rendition of the breed (see, I can throw a compliment every now and then) is as loopy and daft as a brush. She prefers to recline in a children’s pool rather than grace the yard as guardian – a throwback to the breed’s waterdog beginnings. Cujo, er sorry, Charlie the giant wuss, is now accompanied by Cash, Olivia’s boyfriend’s lummox of a black Lab whose favorite pastime is to out laze his roommate, until it’s time for a walk, when all the

E

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E 47

E

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X

Solution to the 9/27/2021 puzzle

L



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