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July 4, 2016
Domestic Vehicles Top Quality Rankings
TOP TRUCK: The Chevrolet Silverado HD led its category in the J.D. Power Intial Quality Survey. The survey is one of two quality rankings that saw vehicles from the domestic manufacturers outperform those from the foreign nameplates.
By Jenny King
Rush - Dated Material
DETROIT â€“ Domestic automakers have topped the competition in two recent quality studies. For the second time in the 30year history of the J.D. Power Initial Quality Study, U.S. domestic brands together have lower problem levels than all their import counterparts combined. All three U.S. domestic automakers posted year-over-year quality improvements. According to the Power study, the industry average as a whole improved significantly from year to year, with 105 defects per 100 cars in 2016 compared with 112 per 100
in 2015. â€œIt has become clear that automakers are listening to the customer, identifying pain points and are focused on continuous improvement,â€? said Renee Stephens, J.D. Power vice president of U.S. automotive quality. â€œEven as they add more content, including advanced technologies that have had a reputation for causing problems, overall quality continues to improve.â€? Domestic automotive manufacturers won more Total Quality Awards than their foreign competitors, according to the latest results of Strategic Visionâ€™s Total Quality
Impact (TQI) measure. Vehicles from Ford Motor Co., General Motors Co., Fiat Chrysler Automobiles and Tesla combined for 16 winning vehicles, compared to 15 winning models from abroad. After almost a decade of lopsided defeats, American manufacturers have prevailed over imports for the second time in four years. The other big news fr0m the J.D. Power study is that Kia unseated Porsche to top the rankings. The study, released June 22, showed Kia leading the industry with an average 83 defects per 100 vehicles. Porscheâ€™s score was 84 per 100.
This was the first time in 27 years that a non-luxury make surpassed a luxury brand, Stephens told members of the Automotive Press Association here in June. Even as the non-premium brands add to their audio-communicationentertainment-navigation (ACEN) content, their owners reported lower problem rates than those in premium brands. ACEN systems have been a source of dissatisfaction and confusion as they have increased in complexity and function. Owners have responded well to simpler design and presentation of systems like ACEN. Continued on page 15
6/27/16 4:12 PM
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USED CAR NEWS
July 4, 2016 • 3
Automotive Finance Executives Remain Confident By Ted Craig
Fresh concerns have been raised about subprime auto finance, yet those in the business see a competitive but healthy market. Ratings agency Fitch recently released a report that shows subprime auto finance has remained strong so far this year, but the summer months do not figure to be as kind for the sector. Fitch believes auto ABS performance will slowly deteriorate again during the summer. Pressure on used vehicle values will increase and drive loss severity, while weaker credit quality in recent 2013-2015 vintages will move loss frequency higher. This is contrary to the view of the market presented during the recent National Automotive Finance Association conference. During the conference, attendees heard the results on the NAF Association’s annual survey. The survey finds subprime creditors optimistic about the market’s prospects.
About two-thirds of respondents said they plan to be as aggressive – or more – than they were last year. That might create worry about an overheating market, but that number is actually down from 90 percent in 2013. No category of creditor shows signs of overreaching, either. While captives and banks did finance more sales than finance companies and credit unions in 2015, the business overall was spread out fairly evenly. The respondents did report a rise in delinquencies, but a decline in repossessions and charge-offs. Amy Martin, at Standard & Poor’s, told attendees at the NAF Association that the auto ABS market became less attractive in the first quarter for several reasons, including concerns about rising interest rates and increased regulation. However, recent offerings from large subprime securitizers have been getting better pricing.
S ubprim e a s S ha re of A uto L oa n O rigina tions 35% 30% 25% 20% 15% 10% 5% 0%
Source: Manheim and Federal Reserve Bank of New York
Martins said some creditors are working to control risks. Manheim chief economist Tom Webb told NAF Association attendees that a major challenge is today’s subprime customer. Webb said that following the downturn many con-
sumers carried subprime scores, but were really better-quality risks who had been tarnished by the mortgage crisis. The score today is a more accurate reflection of risk. “The subprime customer is becoming a little more dicey,” Webb said.
The biggest challenge for the market might not be the quality of customers, but rather the length of the terms. More than 80 percent of subprime finance terms exceed 60 months, Martin said, and some are starting to reach 75 months.
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4 • July 4, 2016
USED CAR NEWS
CarMax Reports Lower Profit
CarMax Inc. reported higher sales, but lower profits, for the quarter ended May 31. Net earnings declined to $175.4 million. Net sales and operating revenues increased to $4.13 billion. Used unit sales in comparable stores increased 0.2 percent. CarMax Auto Finance income de-
clined to $100.8 million.
Cox Automotive Salutes Dealer
Fairly Reliable Bob’s, a Boise, Idaho, independent dealership, received the 2016 National Independent Automobile Dealers Association and Cox Automotive Community Service Award. The award includes a $10,000 donation from Cox Automotive to the
MILESTONES Auction veteran Gregg Kobel died June 24. He was 67. Kobel spent more than four decades in the auto auction industry. He served as National Auto Auction Association president in 20072008. Kobel was also president and director of the Midwest Auto Auction Association. In 1969, Kobel entered the auto auction business with the opening of Auction Way Auto Auction in nearby Crestwood, Ill. Nine years later, when Joe Lyng bought Greater Chicago, he hired Kobel to be the general manager and vice president for both operations. When General Electric bought the two independent auctions in
1987, the company kept him as general manager for both auctions. Kobel remained in that position after Manheim acquired the auctions in 1991. Kobel’s opportunity to become an auction owner came in 1996 as he teamed up with Tom Crane to purchase a small auction in Crestwood that they renamed Tri-State Auto Auction. In a decade, they grew the business from 200 cars a week to 1,600 cars a week. He later joined South Bend Mishawaka Auto Auction where he served as general manager and vice president, before being named executive vice president in 2011.
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Utah/Idaho chapter of the Juvenile web-based vehicle portfolio manDiabetes Research Foundation, the agement solution, BMWGroupDidealership’s charity of choice. rect.com, was previously open only to BMW franchise dealers. It is now open to any buyer with a AutoIMS Makes Frame Data More valid AuctionAccess account. Available The site features factory VIN IsItFrame, the service offered by decoding, meaning dealers can the National Auto Auction Asso- search packages and options based ciation through AutoIMS, is now on original build information from available as an on-demand, sys- the plant. Dealers can also set up saved tem-integrated web service. AutoIMS created this new web searches and alerts to advise them service offering to allow auction when specific inventory becomes management systems and Inter- available. More than 450 BMW and Mini net-connected CR-writing applications to automatically retrieve franchise dealers as well as 50 an answer from the IsItFrame da- independent dealers and wholesale buyers have sourced, bid on tabase. These enhancements to the ser- and purchased vehicles through vice now make it possible for auc- the site since it launched in June tions to automatically retrieve 2015. The program will continue to frame-type and quarter panel information for large batches of ve- offer franchise dealers exclusive hicles all at once, rather than the access to BMW Group company vehicles via closed sales. existing, manual, one-off process.
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by Myles Mellor
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Editorial: Ted Craig, Managing Editor Jeffrey Bellant, Staff Writer
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Vol. 22 • No. 7 Used Car News is published the first and third Monday of each month. Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction ads. Most lists are partial and all lists are subject to last minute changes by auto auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of any advertisements. All Rights Reserved.
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USED CAR NEWS
July 4, 2016 • 5
Actor’s Death Places Spotlight on Jeep Recalls
LOS ANGELES (AP) – The high- ter. The company is working on a profile death of a young actor has fix and expects to have a software brought a fresh call for manufac- update ready in July or August. turers to take more action with auInvestigators were looking into tomotive recalls. the position of Yelchin’s gear shift The SUV that rolled down a at the time of the accident, Officer driveway and killed ``Star Trek’’ Jane Kim said. The actor had gotactor Anton Yelchin was being ten out of the vehicle momentarily, recalled because the gear shifters but police didn’t say why he was have confused drivers, causing the behind it when it started rolling. vehicles to roll away unexpectedly, Fiat Chrysler said in a statement government records show. that it was investigating and it Yelchin died after his 2015 Jeep was premature to speculate on the Grand Cherokee pinned him cause of the crash. against a mailbox pillar and secuYelchin’s death was the first that rity fence at his home, Los Angeles might be related to the recall, the police said. traffic safety administration said, The 2015 model-year Grand although several serious injuries Cherokees were part of a global have been reported. The agency recall of 1.1 million vehicles an- said it’s in contact with police nounced by automaker Fiat Chrys- about the cause of the crash, and ler in April, National Highway it urged owners of the recalled Traffic Safety Administration vehicles to make sure they’re in records show. park before exiting and to use the The agency urged the recall be- parking brake. cause of complaints from drivers As of April, the company had who had trouble telling if they had reports of 212 crashes, 41 injuries put the automatic transmissions in and 308 property damage claims park. If they were not in park and a potentially caused by the shifters, driver left the vehicle, it could roll it said in documents filed with the away. government. Fiat Chrysler expected to send The recalled vehicles, including recall notification letters to owners nearly 812,000 in the U.S., have on May 16, according to a memo to an electronic shift lever that togdealers, but it’s not known whether gles forward or backward to let Yelchin received or saw his letthe2:39:47 driver select the gear instead 2015_SDA_Used_Car_News.pdf 10/9/15 PM
of moving along a track like a conventional shifter. A light shows which gear is selected, but to get from drive to park, drivers must push the lever forward three times. The recalled vehicles sound a chime and issue a dashboard warning if the driver’s door is opened while they are not in park. But the push-button ignition won’t shut off
the engine if not in park, increasing the risk of the vehicles rolling away after drivers have gotten out. The Grand Cherokee gear shifters were changed in the 2016 model year so that it works like those in older cars. The Center for Auto Safety has used the tragedy to criticize auto manufacturers and their response to recalls.
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6 • July 4, 2016
USED CAR NEWS
Firms Clash over Name Coast Financial. They also learned Coast Financial had recently obtained a domain name for www.coastfinancialauto.com, which could cause confusion because both companies market extensively on the Internet. According to the complaint, Coast Acceptance sent a letter to Coast Financial on Feb. 15 demanding that they stop using the Coast name and cancel the domain name. Coast Financial’s attorney responded on Feb. 25, denying that they were infringing on Coast Acceptance’s name, and saying any similarities in the logo “were entirely inadvertent.” They intended to continue using the domain name, the attorney said, but were in the process of changing their logo to de-emphasize the word “coast.” They did change their marketing materials, but didn’t drop “Coast” from the name, according to the complaint. The suit alleges the changes were not enough to avoid confusion. The recent case wasn’t the first time Coast Acceptance has had to confront another business about trademark infringement. In 2015, an Anaheim company by the name of Coast Auto Finance agreed to phase out that name after receiving a letter from Coast Acceptance. The business later changed its name to Tarco Finance. “This is a critical issue for our business and especially for our clients,” said Coast Acceptance founder Matthew Morsey in a statement. “We are committed to pursuing any means necessary to eliminate confusion in the marketplace about the source of Coast’s services. “We want to ensure our customers make payments to the correct company, get our help and service when they need it, and don’t damage their credit due to this confusingly similar company.”
By Sheila McGrath
A California auto finance company is being accused of trademark infringement by a competitor with a similar name. On May 29, Coast Acceptance Corp., based in Newport Beach, filed a $3 million trademark infringement suit against Coast Financial Auto, of Irvine. The suit alleges Coast Financial is causing confusion in the marketplace and riding on the coattails of Coast Acceptance’s success. “This appears to be a very clearcut and blatant case of infringement by a direct competitor. The parties are in the same industry in the same geographical area, using an essentially identical name, which the other Coast must realize will mislead customers in the automotive finance arena,” said attorney William E. Levin, in a statement announcing the filing of the lawsuit. According to the complaint filed in U.S. District Court for the Central District of California, Coast Acceptance documented at least two occasions when customers had contacted their office when it was actually Coast Financial they were trying to reach. The confusion is made worse, according to the complaint, by the fact that Coast Financial doesn’t actually have a physical location – the address on their website is a post-office box. Coast Acceptance Corp. has been using that name since it was incorporated in 2002. The business specializes in working with independent auto dealers on non-prime auto loans. Coast Financial Auto was incorporated in 2010. According to the complaint, Coast Acceptance became aware of Coast Financial and its increasing activities in the marketplace in January 2016. That was when they were contacted by customers who had actually been looking for For Cars, Trucks and Vans
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8 • July 4, 2016
NIADA QUALITY DEALER
USED CAR NEWS
FLORIDA DEALER TAKES HOME TOP PRIZE By Jeffrey Bellant
LAS VEGAS – Florida buyhere, pay-here dealer Scott Lanier was named the 2016 National Quality Dealer during the recent 70th annual National Independent Automobile Dealers Association Convention and Expo here. “I don’t stand here alone,” said Lanier, owner of Credit Cars in Orlando. “I couldn’t do this myself. I had the backing of so many people.” As he accepted his award, Lanier thanked his wife Melissa and their son, Graham, who joined him on stage for the presentation. “I’m so blessed to have the co-workers that I have,” said Lanier, of staff who were in attendance. “I couldn’t do it without them. They’re the best.” Lanier’s father, Johnnie, started the business in 1963 and was also state quality dealer of the year in 1970. His death in 1981 left the store in his son’s hands, when Scott was just 24 years old. The dealership has grown to 30 employees, all with full benefits and 401 (K) plans. According to the NIADA, Lanier was one of the first dealers in the nation to create a related finance company to support his business. Lanier thanked consultants Chris Leedom and Ken Shilson for their support of twenty groups, which provide “priceless” education and competition, which keeps him driven in business. He singled out Chuck Bonanno, his group moderator, for his help, as well. “I’ve made lifelong friendships and the numbers have made me a student of my business,” Lanier said. Credit Cars carries about 90 cars on the lot, but has 150 to 160 total in inventory. The dealership sells about 75 units per month, with an average retail price of $13,500. About 95 percent of the inventory comes from auctions. Lanier praised the Florida IADA for the work it does, stating its leadership is “on the front lines for dealers” every day. He has been a member of the group for
Photos by Jeffrey Bellant AWARDS NIGHT: Florida dealer Scott Lanier, (above center), receives the NIADA 2016 National Quality Dealer award at NIADA’s recent convention in Las Vegas. His wife, Melissa, and son, Graham, joined him on stage. Fellow Floridian Lisette Mariner, executive director of the Florida IADA (below), received Executive of the Year honors. Last year’s winner, Todd O’Connell of Colorado IADA, presented her with the award.
47 years. “Lastly, I want to thank my dad,” Lanier said. The son of sharecroppers, Lanier’s dad was one of 11 children living in a two-bedroom home with no running water. He left school after 9th grade to work and eventually received two Purple Hearts and “a sackful of medals” from service in the Korean War. “I’m so grateful for the risks that he took to provide for his family,” Lanier said. “Thank you all for this award. This is for my dad. Without him, this would not be possible.” Lanier wasn’t the only big winner from the Florida IADA. Lisette Mariner, executive director of the association, won the Association Executive Council’s (AEC) Executive of the Year award. Mariner has two decades of experience in associations and non-profits, including American Association of Medical Society Executives; Companion Animal Rescue Endeavor; Public Relations Association and several other groups. Mariner, born in Brooklyn and raised in Miami, has grown the association,
boosted involvement in the association’s political action committee and improved the state convention, said Todd O’Connell, last year’s winner. Mariner was described as having “one of the sharpest 501 (C) minds” and has helped facilitate education
for state executives for the AEC during her five years as head of the state group. In accepting her award, Mariner first acknowledged the victims of the Orlando nightclub attack that had just happed prior to the convention. She thanked her fam-
ily, along with NIADA and several of her colleagues in AEC, including Paul John of Georgia, Debbie Andersen of Indiana and Jeff Martin of Texas. “All of the state execs represent their respective states with much pride and passion,” she said.
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10 • July 4, 2016
USED CAR NEWS
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Photo by Jeffrey Bellant CERTIFIED STAR: Todd Hoagey, CEO of Auction Direct USA (left), accepts CPO Dealer of the Year from Chris Murphy during NIADA’s convention. Manheim’s Jay Cadigan received NIADA’s Ring of Honor, while Dennis Pope of People’s Financial won the President’s MVP Eagle Award. By Jeffrey Bellant
LAS VEGAS –The National Independent Automobile Dealers Association honored Manheim’s Jay Cadigan and others during its National Leadership Awards reception at the group’s 70th annual convention. NIADA CEO Steve Jordan pre-
sented Cadigan with NIADA’s Ring of Honor. “These are men and women who have dedicated their careers to the industry, always giving of their time and resources to improve the image of the automotive industry and assisting its dealers,” Jordan said. Continued on next page
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USED CAR NEWS
July 4, 2016 • 11
CPO – Continued from prior page Cadigan, vice president of industry relations for Manheim, thanked his wife, along with the leadership of Manheim, NIADA and its leadership, including Jordan, Mike Linn, Chairman Frank Fuzy and the Florida IADA, a state he worked in for several years. He said independent dealers play a huge role in the auction industry, a fact he’s known since his early days in the business. “In 1976, when I started selling off-lease cars for Avis, I used to go to auctions all over the country,” Cadigan said. “Didn’t take me long to realize that, even though I had a lot of cars to sell, if there weren’t any dealers in the lanes, it didn’t really matter.” He called dealers the backbone of the industry. Cadigan is a past president of the National Auto Auction Association and was inducted into that organization’s Hall of Fame in 2015. Jordan called him “a true automotive industry icon.” The NIADA also created two new awards for 2016. One – the NIADA CPO Dealer of the Year Award – involves its NIADA Certified Pre- Owned program developed in 2008. The second new honor – the
President’s MVP Eagle Award – is given to the NIADA member who has recruited the most new members during the 2015-2016 NIADA Membership Challenge. The award was suggested by then-NIADA President Frank Fuzy last year. The CPO Dealer of the Year honor went to Todd Hoagey, CEO of Auction Direct USA, with stores in Rochester N.Y., Raleigh, N.C., and Jacksonville, Fla. Chris Murphy, executive vice president of Warrantech, presented the honor. Warrantech administers the CPO program. “(Todd) is committed to excellence, quality and customer service,” Murphy said. “He has a well-rounded approach to implementing the CPO program into all facets of his dealership operations.” As he accepted his award, Hoagey said that he didn’t sell a single car. “The store’s staff did all the work,” he said. The President’s MVP Eagle Award went to Dennis Pope of Georgia-based People’s Financial, who recruited 227 members in the past year. Jordan also took time out to recognize NIADA’s longest-serving employee, Angela Ledbetter.
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12 • July 4, 2016
USED CAR NEWS
Industry Rewards Scholars The used-car industry is helping several young people pursue higher education. Five young men and women were named as the recipients of the National Independent Automobile Dealers Association’s 2016 Scholarship. Tori J. Mason, a sophomore at Northwood University in Midland, Mich., was awarded the NIADA Foundation/NextGear Capital Scholarship to Northwood. Brendan Scott Bozyk of Brighton, Mich., earned NIADA’s scholarship from Region I, joining Tyler Owen Riley of Indialantic, Fla. (Region II), Marci Marie Ricklick of Lakeville, Minn. (Region III) and Mark Charles Beshoar, Montrose, Colo. (Region IV) as winners of NIADA’s regional scholarships. Each year, the NIADA Foundation sponsors a student who has displayed outstanding abilities in education from each of the association’s four regions across the nation with a $3,500 scholarship to the college or university of his or her choice, thanks to the assistance of NextGear Capital. The foundation and NextGear Capital also award a $10,000 national scholarship each year for an outstanding student to attend or continue his or her education
at Northwood University in an automotive-related field. All students’ entries are judged by Northwood University. In other news, ServNet has announced the first recipients of the group’s scholarship program, which was established this year as an ongoing initiative to help ServNet auction employees and their families obtain higher education. Three scholarships of $1,500 went to students attending two-year colleges. Derrick Gough (an employee at Greater Rockford Auto Auction, and son of GRAA’s business manager Katrina Gough) begins his sophomore year at Rock Valley College in the fall, where he is working toward his associate’s degree in philosophy. Jake Pierog (son of Michele Pierog of Auto Auction of New England) is a sophomore at SUNY University, where he majors in liberal arts, individual studies. Lauren Simoneau (daughter of Kevin Simoneau of KCI Kansas City) attends Metropolitan Community College at Maple Woods, majoring in child & family development. Three $2,500 scholarships went to students at a 4-year college or university. Continued on next page
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USED CAR NEWS
July 4, 2016 • 13
State Settles with Ex-Nissan Store The New York Attorney General reached a settlement with a Nissan dealer over numerous charges of illegal and deceptive practices. Saratoga Springs Nissan, LLC, operated a dealership in Malta from May 2010 to September 2013, when it was sold and the name changed. According to the Attorney General’s office, an investigation revealed that consumers during that time were charged as much as $5,000 for warranties and service contracts without their authorization and induced to purchase and finance vehicles on terms they could not afford with false promises that the dealership would refinance their loans on
more favorable terms after several months. The settlement requires the former dealer to pay $101,986 in restitution to 119 consumers who were charged illegal fees and/or subjected to a variety of deceptive sales and advertising practices. Restitution amounts range from $198 for illegal fees charged, to over $4,000 for unauthorized warranties and services contracts. The settlement also requires the business to pay restitution to other consumers who come forward within the next three months and who were subjected to the deceptive and illegal practices.
Scholarships - from prior Nina Emmick (daughter of Angela Emmick of KCI Kansas City), who attends the University of South Dakota, where she is pursuing a major in nursing and a minor in child & adolescent development. Jasmine Jaghab (daughter of Delmy Jaghab of BSC America’s Bel Air Auto Auction) begins her senior year this fall at Virginia Commonwealth University, where she is majoring in political science
and psychology. Michael Parisi (son of Erin McNeill of Auto Auction of New England) is a sophomore at Massachusetts College of Pharmacy and Health Sciences where he is studying to be a physician assistant. ServNet’s Scholarship program was first proposed by Doug Doll, ServNet member and Managing Partner of KCI Auto Auction in Kansas City, Mo.
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14 • July 4, 2016
USED CAR NEWS
NAF Celebrates Milestone By Ted Craig
The National Automotive Finance Association celebrated its 20th anniversary during the group’s recent Non-Prime Automotive Financing conference. The event found the NAF Association much changed from its beginning two decades ago. Subprime auto finance seems like it has always been around, but it only really started in its current form in the early ’90s. By 1996, subprime auto finance was experiencing an IPO market almost as big as the dot-com companies of the day. “The concept was gaining traction in a big way,” said Jim Bass, CEO of Starboard Advisors. At the time, Bass was CEO of Auto One Acceptance. One day, he received a call from attorney Tom Hudson to discuss the idea of starting a trade association specifically for this growing market segment. “Existing trade associations weren’t focusing on subprime,” Hudson said. Hudson hosted a preliminary meeting in Washington, D.C., and then the formation meeting took place in Phoenix. Jack Tracey was working at PNC
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Bank and decided to attend the formation meeting. He found himself appointed the NAF Association’s part-time director, working on getting the group off the ground during his lunch hours. The main issues at the time were creating a standard for account reporting so public auto finance firms could meet federal requirements and creating a code of ethics. Tracey also focused on starting the annual conference and survey of members. Soon the job grew to a full-time position, but with a staff consisting of Tracey and his wife, Mary Ellen. Their three daughters often helped with the conference. The first NAF Association meeting in Phoenix had fewer than two dozen attendees. Today, the association has nearly 230 members. The staff has grown beyond just the Traceys and so has the NAF Association’s mission. A main feature today is the three compliance certification programs it offers for those in the subprime auto finance business, including dealers. Hudson said that is what he is the most proud of 20 years later. “The industry is completely different today,” Tracey said, “so our purpose has changed.”
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USED CAR NEWS
July 4, 2016 • 15
Domestics – from page 1 They are irritated when functions are not intuitive. Better access to functions is something the nonpremium brands appear to do better than their luxury counterparts. Stephens stressed the important role dealers play in educating the customer in all aspects of a vehicle but especially in advanced safety features and ACEN systems. Easily reached staff experts make a big difference in customer satisfaction, she said. And consumers who report fewer problems with a brand are likely to become repeat customers. J.D. Power uses state vehicle registration information to contact newcar buyers for feedback on their purchases at the end of 90 days. The 2016 study is based on 80,000 responses covering 33 brands and 245 models, Stephens said. The top 10 brands with the
fewest reported defects for 2016 included Kia, Porsche, Hyundai, Toyota, BMW, Chevrolet, Buick, Lexus, Lincoln and Nissan. Twentythree brands had reduced defects responses; Chrysler and Jeep are the most improved brands, each reducing the number of problems by 28 PP100 from 2015, according to the report. General Motors received seven model-level awards, followed by Toyota Motor with six and Hyundai and Volkswagen, each with four. Korean cars had the lowest rate of initial problems, with U.S. products second lowest, Japanese third and European brands fourth. There were improvements among earlier “top problems” like voice recognition, Bluetooth and connectivity, wind noise and scuffing or soiling of materials.
Dealers Prefer Import Brands Lexus ranked No. 1 overall among automotive brands in a recent survey that measured dealer sentiment of franchise value, automaker policies and automaker field staff. Toyota was second, followed by Subaru, Honda, Porsche, Ford, MercedesBenz, Kia, Jeep, and Audi, accoridng
to the National Automobile Dealers Association Dealer Attitude Survey. Lexus has retained the top overall spot for the past three years (six survey cycles), and has scored in the top five throughout the last six years. Lexus also achieved the No. 1 ranking for survey participation
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16 • July 4, 2016
USED CAR NEWS
PEOPLE IN THE NEWS KAR Announces Promotions KAR Auction Services Inc. announced several promotions at various subsidiaries. Jim Money was pro-
Amy Weisenburger moted to president of Automotive Finance Corp. Money’s promotion comes as part of a long-standing succession plan. John Hammer, who most recently served as AFC CEO and president, left the company on June 24. He and
his family will be relocating to the South, where he has an opportunity to lead a retail dealership group. Money brings more than 25 years of experience to his new role. While at AFC, he has overseen finance, underwriting, collections and risk management operations. Most recently, Money directed the business operations of Preferred Warranties Inc., a vehicle service contract company owned by AFC. Money holds a bachelor’s degree from Indiana University and is a licensed certified public accountant. Also part of the company’s comprehensive succession plan is the promotion of Amy Wirges to vice president of finance. Wirges, who most re-
cently served as operational controller for AFC, will report directly to Money. Wirges joined AFC in 2001. She brings more than 15 years of experience to her current role. Wirges holds a bachelor’s degree from Indiana University and is a licensed certified public accountant. ADESA announced that its subsidiary, AutoVIN, has created a new national accounts team. Amy Weisenburger will lead this team as executive director. Previously, Weisenburger was manager of business development at DataScan Field Services, which AutoVIN acquired in 2015. She has held management positions at companies including CenterOne Financial Services and MarketWise Solutions.
ADESA announced two promotions within the dealer services team. C.J. Lopez, previously major dealer accounts manager, has been promoted to director of major deal-
Kjersta Lloyd er accounts. Kjersta Loyd, previously general sales manager of ADESA Golden Gate, has been promoted to regional dealer sales manager for the Mideast/Midwest regions. In his new role, Lopez will act as a
strategic partner and oversee relationships with major dealer groups. Lopez started his career with ADESA in 2006 as the dealer sales and services manager of ADESA San Diego. In 2012 he was promoted to general sales manager, and in 2014 he was promoted to major dealer accounts manager. Lopez holds a bachelor’s degree from Montclair State University. In her new role, Loyd will collaborate with local auction sales managers and provide guidance on managing dealer sales activities. Loyd brings nearly 20 years of automotive industry experience to her new position. She began her career with ADESA Seattle in 1998 and served in numerous roles
of increasing responsibility for more than a decade. She worked
C.J. Lopez at Washington Liftruck for two years and then returned to ADESA Seattle in 2010 in outside sales for the dealer consignment team. She was promoted to dealer sales and services manager at ADESA Houston in 2011, where she won 2012 Central Region Dealer Sales MVP and 2013 West Region Online Champion honors.
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USED CAR NEWS
July 4, 2016 • 17
RETAIL MARKETS IOWA
Rick Theilen, owner, Theilen Auto Sales, Clear Lake, Iowa: “I’ve been in business since 1978. We have just one larger location. “I carry pretty close to 100 vehicles that are ready to sell. Then we’ll have 20 to 30 that we’re prepping. Actually, that’s typical of this time last year. We’ve been fortunate. While a lot of guys were downsizing people and cars, we actually bought more cars and did better because we had variety when everybody else didn’t. That’s worked exceptionally well for us. We were able to get some deals. “We’re pretty much selling 1.5 per day. But we’re strictly retail. So for us, in our area, that’s extremely well. So we’re selling 30 to 35 per month. “We actually compare ourselves to several franchise dealers that have been in business for 50 or 60 years. They don’t have the
margins that we do and they are actually smaller than our dealership buildingwise and land-wise. I never compare myself to other independents, so this actually helps keep myself in place. It’s very fun to compete. “Mostly we get our cars from the auctions in Minneapolis. We actually get quite a few trades, too. People know that we will pay more than the franchise dealers. So they come to us and all the banks send them to us. We’ve got a nice following of people. “We’ll carry anything, literally, from $7,000 to $30,000. But $15,000 to $18,000 is our bread and butter. “They are between threeand seven-years-old. We try to keep 60,000 to 90,000 mile cars to fit (our market). Finding those cars has been a little better – slightly. It was pretty soft there for a while. We looked hard. I hit as many auctions as I can. “We carry almost all do-
mestic. The (imports) are very soft and very slow sellers. So we have to stick to domestic. That’s our market. “We keep about a third trucks, a third SUVs and crossovers and 25 to 30 percent cars. We like to have a variety, something for everybody. “Average reconditioning is running about $900 per car and $1,400 per truck. But you have to do it. You don’t want to miss anything on it. You just can’t do it any other way. “We have full-time mechanics and full-time detailers. Pretty much everything is in house. We don’t do any outside work. “For advertising, we’re on Cars.com. We also use Findcars.com, which is in our area, going out within 100 miles. That works very well for us. We also use local paper and the radio. “We just sold a 2013 Dodge Challenger. It had 30,000 miles and we got $27,900. It was a nice car.”
Compiled by Jeffrey Bellant NORTH CAROLINA
Charles Hudson, owner, Unique Auto Sales of Hamlet, Hamlet, N.C.: “We bought an established business in July 2015. So we’ve been in business less than a year. It’s one location. “(Inventory) varies by time of year, but 25 to 30 is kind of our goal during the slower months. We’re selling about 12 to 15. “We mostly get the cars from CarMax auctions. “The dealership is pretty much straight retail. We use local finance companies. “Average retail price is probably $3,200 to $3,500. We don’t sell a car on our lot for more than $5,000. “We’d love to have trucks, but we just can’t (afford) them. With the price range that we’re at, we can’t buy trucks unless they are 300,000 miles. “But when we can find (affordable) trucks, we’ll get them as often as we can. “Minivans have been great. So 10 of the 30 will be minivans and SUVs.
“Our average (vehicle) is a little less than 10 years old. Average mileage is probably 150,000. “It doesn’t matter whether they are imports or domestics. “We’ve done very well with Chevy Impalas, Nissan Altimas and Maximas. Hyundai Tiburons sell well, too. “Average reconditioning is probably $300, but that’s just a guess. “We have two different mechanics, separate from us, that do a lot of our work. We also rent space to a mechanic in our shop. “We do a little advertising in our local paper. We also have a Facebook page we try to keep up with. But the dealership has been here for 10 years. So it’s had a history. We didn’t change the sign and didn’t advertise the change. “We sold a 2006 Kia Sedona van – we sold it for $3,500. I believe it had 120,000 miles.”
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18 • July 4, 2016
WHOLESALE MARKETS LOUISIANA
Steve Chiasson, managing partner, Greater Shreveport-Bossier Auto Auction, Shreveport, La.: “We’re on our 10th year in business. We have three lanes. “Volumes have been up in numbers and down in conversions. “We’re running more cars – just a tiny bit up from last year. But our conversion rate has dropped. The quality of vehicles that we’re getting has not been as strong as in the past. “We’re in a depressive bubble here because Haynesville Shale and the big oil plays of our area had insulated our economy from the rest of the country. “When everybody else was going through that recession/depression, we were riding high because we had oil and gas booming in our area. “But (politics) has virtually shut down the oil industry, creating a crunch in our area.
“We’re averaging about 300 cars a week. For the year we’re cruising along at a 54-percent conversion rate. “During a recent sale, we had 179 dealer badges. They’re primarily coming from a 250-mile radius. “We draw primarily from Dallas, Houston, Little Rock, Ark., and Jackson, Miss. We get some big shooters out of Dallas. “We sell exclusively for both of the highline stores in Shreveport-Bossier. So they send Mercedes, BMWs, Jaguars, Land Rovers – stuff like that. “Our (retail) truck market is down and that’s a direct result of the oil crunch. “We’re mostly dealer consignment. I would say it’s 90-percent dealer consignment and 10 percent captive finance. Repos from credit unions, banks and captive finance are up a little. "We’re getting boats, campers, fifth wheels, jet skis and four-wheelers. I
tell dealers: If it will help you get rid of inventory, I’ll sell a three-legged goat. “Our new-car dealer trades are down a little. They’re not doing as well as they were. Open consignment (from independent dealers) is up. “We start the sale with our non-drivables and then our fleet-repos – and the toys. Then we run our highline stuff later on in the sale and that holds our buyers, keeps them there. “The average price per sold unit is $6,530, as of June 24. It’s probably about the same as last year. “Low mile trucks are always a hot (unit) and a decent-mile car – under 100,000 – does well. Dealerships are keeping more and more. “(Going forward) I think the impact of the election will be felt stronger than in any of the previous years. “I think the big money is just sitting back waiting to see what happens.”
Jon Reininger, general manager, Dealers Auto Auction of Oklahoma City, Oklahoma City: “We opened in 1988. We’re running seven lanes right now, but we have 11. “We’re running about 1,000 cars a week. It’s probably about the same as last year. It’s been kind of flat this year. But sales percentages have been a bit higher. “We get about 450 bidders in the lanes. I’m hearing that the used-car business is really good. “Every lane is simulcast. We run through Auction Pipeline. “Most of our stuff is fleetlease. We run about 70 to 75 percent fleet-lease and the rest is consignment. We have Santander, Chrysler Capital GM Financial. We have Hertz. “We have a GM factory sale every Thursday. During one recent sale we ran 250 cars. “We get a lot of oil field trucks that run for ARI, an-
USED CAR NEWS
Compiled by Jeffrey Bellant other big account. We get those all the time. “The average price right now is a little over $11,000. It’s a little up from this time last year. “We do run a wrecked and in-op sale. One sale we ran 65 units. Those run in a picture (video) sale. “We had a GSA sale on June 23 and that detracts a little bit from our regular open sale. But we were still around 50 percent. When we don’t have GSA it’s about 55 percent. “We’re running GSA once a month. We trying to make up for a late start this year. April was a decent sale. We ran about 250 in that June 23 sale. Those could be anything from a Chevy Cruze to a Chevy 3500 work truck or a dump truck or even an electric club car. You never know what you’re going to get. “Most of our mid-size sedans and smaller cars are doing well right now, which is kind of surprising with the gas still down here. “
6/27/16 4:09 PM
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES JULY 2016
SOURCE: BLACK BOOK
2014 MODELS Recorded Figures
$37,000 $11,600 $17,100 $19,350 $12,350 $11,450 $17,700 $17,500 $24,800
$33,200 $9,700 $15,100 $16,250 $9,850 $9,850 $13,700 $14,650 $20,850
$33,300 $9,600 $15,250 $15,300 $10,100 $9,400 $14,600 $14,900 $20,050
$27,750 $7,925 $12,875 $13,200 $8,575 $7,925 $12,350 $12,925 $17,350
$22,950 $6,575 $10,950 $11,275 $7,225 $6,550 $10,575 $11,025 $14,825
DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan
IMPORT CARS BMW 3-Series 328i 4D Sedan n BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan 3.5 Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan
$27,700 $62,000 $17,000 $13,400 $30,300 $37,600 $10,800 $12,900 $16,500 $12,000 $14,650 $13,050 $15,600
$22,200 $54,200 $14,900 $11,750 $27,150 $30,400 $8,700 $11,100 $13,700 $9,850 $12,950 $11,500 $13,700
$20,750 $47,400 $14,450 $11,150 $24,100 $27,700 $8,700 $11,050 $12,750 $9,450 $11,950 $10,600 $13,100
$17,575 $40,025 $12,875 $9,650 $20,000 $24,500 $7,300 $9,850 $11,475 $8,100 $10,825 $9,500 $10,950
$14,600 $32,775 $10,900 $8,250 $16,500 $20,550 $6,100 $8,325 $9,750 $6,700 $9,375 $8,075 $9,100
Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Crew Cab 4WD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SE 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6
$47,600 $32,750 $15,850 $29,300 $30,900 $15,000 $21,150 $19,000 $29,000 $23,500 $25,100 $19,300 $20,700 $29,950 $25,200 $30,850 $15,250 $24,350 $25,700 $30,700 $24,750
$44,550 $29,800 $13,200 $27,500 $29,500 $13,000 $17,800 $15,950 $25,200 $23,300 $22,100 $17,600 $18,900 $29,700 $23,250 $29,300 $13,850 $22,100 $25,100 $28,600 $24,150
$41,300 $26,800 $13,450 $27,700 $29,000 $13,400 $19,500 $15,350 $25,500 $21,800 $20,700 $16,900 $19,200 $29,150 $21,900 $29,000 $13,500 $23,025 $23,000 $26,750 $23,600
$35,100 $23,225 $10,600 $23,025 $24,325 $10,950 $15,575 $12,775 $21,675 $18,650 $18,200 $14,575 $16,225 $25,100 $18,450 $24,175 $11,700 $18,725 $20,125 $23,500 $20,750
DOMESTIC CARS Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape XLT 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6
Jul-18 $10,975 $13,075 $5,750 $6,450 $10,800 $6,175 $5,525 $9,275 $9,750 $13,300
Jul-15 $17,250 $21,300 $10,500 $10,350 $17,650 $11,200 $10,500 $15,800 $15,500 $21,800 Jul-15
Jan-16 $14,550 $19,200 $8,700 $8,400 $14,900 $8,650 $8,650 $12,300 $13,100 $18,150 Jan-16
Jun-16 $15,750 $19,000 $8,550 $9,000 $14,650 $8,850 $8,200 $12,400
Jul-17 $12,950 $15,750 $6,950 $7,600 $12,575 $7,425 $6,775 $10,850 $11,525 $15,625
Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan 3.5 Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan
$20,100 $24,300 $51,100 $15,500 $11,800 $27,300 $28,500 $9,600 $11,500 $14,600 $10,350 $13,300 $11,450 $14,800
$18,400 $20,300 $43,900 $13,350 $10,150 $24,200 $24,800 $7,650 $9,850 $12,650 $8,900 $11,800 $9,900 $12,350
$17,800 $18,900 $37,500 $12,750 $9,650 $21,450 $21,700 $7,500 $9,900 $11,650 $8,450 $10,700 $9,150 $11,350
$14,800 $15,400 $32,050 $11,400 $8,350 $17,750 $19,075 $6,200 $8,825 $10,450 $7,125 $9,725 $8,050 $9,300
$12,150 $12,550 $26,550 $9,650 $7,150 $14,600 $16,000 $5,150 $7,425 $8,850 $5,875 $8,400 $6,825 $7,875
$29,775 $20,100 $8,625 $19,725 $20,300 $9,025 $13,050 $10,700 $18,050 $15,800 $15,800 $12,450 $13,625 $21,250 $15,275 $20,350 $10,025 $15,600 $17,700 $19,925 $17,900
V BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SEL 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6
$28,200 $41,300 $26,150 $14,000 $23,000 $28,400 $13,000 $20,000 $18,800 $27,500 $21,500 $23,100 $18,100 $18,750 $27,900 $22,900 $27,850 $14,000 $22,000 $23,900 $27,500 $23,450
$26,100 $37,500 $24,200 $11,650 $21,800 $27,500 $11,250 $16,650 $15,850 $23,200 $21,300 $20,800 $15,800 $16,550 $27,400 $21,550 $26,250 $12,700 $19,400 $23,100
$22,450 $36,950 $23,850 $12,100 $21,500 $26,800 $11,900 $18,250 $15,300 $23,100 $20,400 $19,500 $15,000 $15,500 $25,450 $21,200 $26,850 $12,050 $20,450 $21,000 $25,000 $22,600
$19,625 $30,950 $20,400 $9,375 $17,775 $22,250 $9,500 $14,700 $12,650 $19,775 $16,925 $16,825 $12,825 $13,375 $22,275 $17,575 $21,825 $10,500 $16,750 $18,200 $21,550 $19,325
$16,550 $26,050 $17,450 $7,525 $15,125 $18,475 $7,800 $12,200 $10,550 $16,450 $13,900 $14,500 $10,900 $11,525 $19,050 $14,525 $18,275 $8,900 $13,875 $16,075 $18,075 $16,650
DOMESTIC CARS Cadillac CTS 3.6 Premiumn 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan
2011 MODELS Recorded Figures
Jul-15 $15,300 $18,400 $9,350 $9,250 $15,200 $9,650 $9,100 $14,050 $13,700 $19,000
Jan-16 $13,500 $16,700 $8,100 $7,450 $12,800 $7,550 $7,600 $11,050 $11,600 $15,700
Jul-16 $12,400 $16,400 $7,000 $7,800 $12,250 $7,750 $6,600 $11,000 $11,200 $14,800
Jul-17 $10,700 $13,500 $6,025 $6,600 $10,575 $6,475 $5,675 $9,450 $9,525 $12,825
Jul-18 $9,050 $11,100 $4,975 $5,600 $9,150 $5,300 $4,700 $7,975 $8,025 $10,900
Jan-16 $16,200 $18,100 $34,900 $10,500 $8,600 $19,000 $22,200 $6,650 $8,350 $9,450 $7,350 $10,750 $8,750 $10,550
$15,700 $16,900 $29,400 $10,150 $8,150 $17,400 $19,300 $6,300 $8,100 $8,600 $6,200 $9,800 $7,700 $9,225
Jul-17 $12,950 $13,325 $25,075 $8,625 $7,050 $14,500 $16,525 $5,300 $7,150 $7,650 $5,525 $8,825 $6,725 $7,975
Jul-18 $10,550 $10,825 $20,525 $7,275 $6,025 $12,000 $13,500 $4,375 $6,025 $6,475 $4,550 $7,625 $5,675 $6,600
Jan-16 $22,550 $30,850 $20,700 $18,100 $9,750 $20,000 $25,000 $9,100 $15,600 $12,850 $21,100 $18,800 $17,100 $14,050 $14,550 $24,550 $20,100 $24,950 $11,250 $19,600 $21,000 $24,700 $21,675
Jul-16 $18,400 $30,700 $20,250 $16,150 $10,000 $18,800 $22,700 $9,500 $13,750 $11,650 $18,500 $16,500 $15,000 $13,050 $13,000 $22,200 $18,350 $24,700 $10,250 $18,250 $18,300 $23,500 $20,925
Jul-17 $16,600 $25,400 $17,400 $14,325 $7,850 $16,125 $19,125 $7,800 $11,750 $9,550 $16,350 $14,400 $13,200 $11,200 $11,600 $19,575 $15,475 $20,300 $9,075 $15,425 $16,475 $20,000 $18,000
Jul-18 $13,975 $21,275 $14,750 $12,125 $6,300 $13,450 $15,800 $6,400 $9,750 $7,950 $13,700 $12,125 $11,300 $9,475 $9,900 $16,550 $12,875 $16,750 $7,675 $12,725 $14,425 $16,600 $15,325
$17,900 $20,400 $39,300 $11,700 $10,250 $21,100 $24,700 $8,500 $10,100 $11,400 $8,600 $12,150 $10,100 $12,250 Jul-15
$25,950 $34,650 $23,450 $19,050 $11,150 $21,000 $25,800 $11,000 $18,450 $14,500 $24,300 $20,500 $19,900 $16,150 $16,400 $24,950 $21,600 $26,850 $12,750 $21,150 $21,900 $26,300 $22,550
Recorded Figures DOMESTIC CARS
Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan
$10,950 $14,550 $7,950 $8,150 $13,600 $8,550 $7,000 $12,450 $12,100 $17,750
$8,700 $11,850 $6,950 $6,400 $11,500 $6,600 $5,700 $10,050 $10,050 $14,975
IMPORT CARS Acura TL base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan TRUCKS BMW X3 XDrive28i 4D SAV V Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan Express Wagon Ford Edge SEL 4D SUV FWD Ford Escape XLT 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV 4WD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6
$16,150 $16,400 $32,100 $10,350 $8,850 $17,900 $21,500 $7,400 $8,550 $9,850 $7,250 $9,800 $8,900 $10,750 Jul-15 $23,100 $30,200 $19,800 $16,800 $9,600 $19,000 $23,800 $9,500 $15,750 $11,300 $21,300 $18,500 $16,900 $13,450 $13,600 $20,900 $19,800 $25,050 $11,250 $18,700 $18,500 $24,850 $21,450
$14,250 $13,300 $26,700 $9,250 $7,200 $15,850 $19,500 $5,500 $6,700 $7,800 $5,650 $8,600 $7,350 $8,750 Jan-16 $19,700 $27,150 $17,400 $16,050 $8,200 $18,000 $22,500 $8,100 $13,050 $10,000 $18,100 $15,500 $13,500 $12,100 $12,400 $20,300 $17,350 $23,000 $9,350 $16,650 $18,200 $23,050 $20,350
$8,500 $11,350 $6,150 $6,450 $10,250 $6,600 $4,950 $9,700 $9,400 $10,075 Jul-16
$13,850 $11,250 $22,200 $9,000 $6,700 $14,500 $16,700 $5,400 $6,800 $7,100 $4,550 $7,800 $6,800 $7,275 Jul-16 $16,400 $27,250 $15,200 $14,550 $8,400 $16,500 $18,800 $8,400 $11,400 $9,125 $16,200 $13,900 $12,000 $11,350 $11,100 $17,550 $15,550 $21,800 $8,850 $13,750 $15,300 $21,650 $19,000
Projected Figures Jul-17
$7,275 $9,175 $5,225 $5,450 $9,125 $5,525 $4,375 $8,475 $7,900 $8,850 Jul-17
$6,150 $7,525 $4,275 $4,625 $7,950 $4,475 $3,650 $7,150 $6,675 $7,600 Jul-18
$11,350 $9,725 $19,725 $7,625 $5,950 $12,150 $14,325 $4,325 $5,925 $6,250 $4,050 $7,200 $5,725 $6,325
$9,225 $8,250 $16,650 $6,425 $5,075 $10,125 $11,700 $3,650 $5,000 $5,300 $3,375 $6,225 $4,825 $5,175
Jul-17 $14,375 $22,400 $13,550 $12,750 $6,550 $14,150 $16,675 $6,675 $9,750 $7,475 $14,050 $11,850 $10,525 $9,650 $9,600 $15,600 $13,200 $18,350 $7,575 $12,125 $14,175 $18,425 $16,500
Jul-18 $12,150 $18,650 $11,600 $10,675 $5,200 $11,950 $13,675 $5,500 $8,075 $6,225 $11,875 $9,975 $8,875 $8,100 $8,150 $13,375 $11,000 $15,300 $6,400 $10,000 $12,175 $15,325 $13,800
6/27/16 12:56 PM
20 • July 4, 2016
DISCONNECTED JOTTINGS FROM I write this on the morning of the announcement of Brexit. “What’s that?” you say. It sounds like a breakfast cereal that has the same effect as All Bran.
global influence. There’s another example of an American Embassy abroad that’s out of touch with local sentiment and not keeping the boss informed. It’s a load of codswallop any-
• 40-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
In fact, it’s the seismic maneuver of Great Britain leaving the European Union after 43 years. It’s much too early to posture all the ramifications and there has already been a great deal of hot air let off, some of it the doomsday variety and some of it heralding a new future. Even President Obama, on his recent trip to the UK, ‘warned’ that relationships would suffer if Britain were to leave, as America now prefers to deal with larger entities with more
USED CAR NEWS
way. Anglo-American relations may have got off to a rocky start, but our two nations have enjoyed the best of understandings culturally, economically, strategically, financially and we even share the same language – almost! There’s no reason that I can see why any of that should change. I do understand that many American businesses used the UK as a ‘gateway’ to Europe, housing offices and manpower there for the purpose of
easing the burden of getting visas for every country, but I’m sure the attraction of doing business in Europe in this online world won’t suffer one jot. The markets dipped the morning after and the pound lost a few pence against the dollar, but markets don’t like uncertainty of any kind. The financial markets, of all people or functions, usually adjust to new circumstances quicker than anyone – like water finding its own level. For many Brits it means going back to a freer society, unbound by a decaying, overregulated entity, bloated with an expensive bureaucracy of layer after layer of management and oversight. The European Parliament is a monument to overblown big government, out of touch with its 28 member states, blindly legislating its way to, often unnecessary, rules and regulations that sometimes defy logic. Another concern is over the control of its own borders, which the European Union has totally lost. Britain is a small country that now houses
C R O S S WO R D
over 72 million people and a free-for-all immigration policy has meant that social services, healthcare and education can now no longer bear the financial burden and are under enormous stress. By immigration, I don’t mean refugees from places like Syria. I’m referring to folks moving from Italy, Greece, Slovenia, Poland and the like who move to the UK and still can’t get work, but because of European rules the Brits have to pay for their upkeep on the dole and provide housing, which is already in short supply. British Law, based on precedent from the Middle Ages, can now be overruled by The European Court of Justice in Luxembourg and The European Commission can push and shove its way into all walks of life in any of the member states. Originally the six nations that formed the Common Market or the European Economic Com-
To see past columns from Tony Moorby, visit www.usedcarnews.com/columnists/tony-moorby Digital version available at usedcarnews.com
By Miles Mellor
1. Mini Cooper 2 ____ 5. Audi sedan, 2 words
41. 570 GT makers
10. Idea that’s spread virally
8. Car ad abbreviation
43. Apple, popularly
14. Truck weights
11. Toyota pickup truck
44. Go off the race track, 2
16. Carroll Shelby was one,
15. Australian car maker
words 45. Plans out, an engine for example
21. Button on the radio
25. Highly excited
3. Rocker, Petty
26. Kind of user
37. Wheel supports
38. Things you don’t do, 2
29. Mazda engine version
6. “To each __ own”
37. Compact Dodge
7. Hyundai sedan
Solution to the 6/20/16 1
33. Sport compact from
42. It’s underfoot
M I T
32. Go fast
2. Brought back to the factory
35. Two-door Plymouth
5. Older of two sons
18. Hennessey ____ GT
23. List abbreviation
30. Made to order
1. Car style
27. What programmers write
34. Chevy’s muscle car
24. Hyundai SUV
22. Not used
20. Dodge sedan
19. ___ No
17. Sporty Chevy 19. Dad’s room
9. Important factor in a sale
39. Buick convertible
13. Compact Honda
12. Ford crossover
munity got together to protect its industries back in the ‘50s, which were primarily farming, coal and steel and to level tax rates on goods at their borders – all very well in theory. Over the years, protectionist tax rates for individual countries have crept back in. In the automobile industry, take BMW for instance who sells 20 percent of its production to Britain, there is likely going to be no change in demand or a lack of desirability to sell into the UK market. The only people to really suffer will be the European Members of Parliament who’ll have their noses jerked from a very lucrative trough. Good riddance. It’ll take a little while for things to settle down but they will – unless others realize that the European super nation is a failed state and decide to leave, too. That would really be like that cathartic breakfast cereal.
O W E
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22 • July 4, 2016
USED CAR NEWS
AROUND THE BLOCK
Compiled by Jeffrey Bellant
DEALERS DUEL FOR CHARITY
LAST MAN STANDING: Joe Keadle of AFC, right, congratulates Andrew Gurowitz on winning the bidding for this 2015 Chrysler 300 Limited.
When the bidding ended in the NIADA Convention’s Expo Hall, Andrew Gurowitz was the last man standing. The owner of Fairfax Motors in Fairfax, Va. – and Virginia’s 2015 State Quality Dealer – placed the winning bid of $27,500 on a 2015 Chrysler 300 Limited,
The vehicle was donated by ADESA, Automotive Finance Corp., Insurance Auto Auctions and TradeRev. All are members of the KAR Auction Services group of companies. All proceeds from the auction, which was held during the NIADA Convention and Expo at The
Mirage in Las Vegas, benefit the NIADA Foundation. The foundation spearheads the association’s commitment to charitable giving as well as awarding scholarships to deserving collegebound students across the United States and providing training and educational opportunities to automobile dealers and the general public. The vehicle, an ivory white 2015 Chrysler 300 Limited with a black leather interior, a sky-slider roof, a wood-grain dash and 9,320 miles on the odometer, will be delivered to Gurowitz free. Gurowitz prevailed in a spirited bidding battle with California’s State Quality Dealer, Mehdi Chitgari of Classic Chariots in Vista, Calif. Over the past four years, KAR company-sponsored auctions at the NIADA convention have raised a total of $97,200.
Vegas Auction Goes Solar Cox Enterprises announced the completion of solar projects at its Manheim Nevada facility in North Las Vegas. Manheim Nevada’s ground mount array is 1,096 kilowatts, produces 62 percent of the facility’s energy and prevents 1,270 tons of carbon from entering the environment. “At Manheim, we know that efficiency is key to success in business,” said Manheim Nevada’s General Manager Eddie Lafferty. “In this case, we’re excited that the efficiency is also good for the environment. We strive to leave a legacy of environmental responsibility so our community and its children can continue to thrive in the Las Vegas valley.” Manheim Nevada also completed a variable speed drive air compressor project that prevents nearly 19 tons of carbon from entering the environment.
We invite news items and top-quality photos from our readers to be considered for “Around the Block.” Please include the name of a contact person and a telephone number. Send items and photos to: Jeffrey Bellant. Mail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. Fax: (586) 772-9400 e-mail: email@example.com
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