Used Car News 12/16/13

December 16, 2013

ON THE WEB:

Study Shows Incentives Hurt Residual Values

A new vehicle cash incentive of $1,000 reduces the price of a one-year-old used vehicle by nearly $600, according to the NADA Used Car Guide in its latest report, NADA Used Vehicle Price Report: Incentive Analysis and Impact.

Comparatively, $1,000 spent on finance and lease incentives reduces the price of a one-yearold used vehicle by $165 and $89, respectively.

Drivers Clueless About Dashboard Lights

Almost half of drivers would not know what to do if their car’s tire pressure or brake system warning light flashed, and almost 20 percent of people don’t even know what the lowfuel light means, according to an Insurance.com survey.

Used Car Sales Fell By Almost Half a Million

True Car estimates that usedcar sales were 3,000,508 in November.

That is down from 3,457,244 in October.

Recon Company Rolls into New Year

By Jeffrey Bellant

Ron Hope started his reconditioning business a decade ago, servicing cars at the former Butler Auto Auction in Pittsburgh.

“We started with 12 employees and a legal pad,” he said.

“By the end of that first day

we only had six employees.”

But more than a decade later, Capital Automotive Reconditioning Services (CARS) has hundreds of employees at wholesale auto auctions around the country, with bigger plans in 2014.

Hope, president and CEO of the business, said

services include: detailing, mechanical inspection/repair, paint/body repair, sale-day arbitration, condition reports and inspections, and lot operations.

“We staff the areas we’re operating,” Hope said.

“We supply labor, management and materials.”

Hope said the goal is to have his reconditioning services work seamlessly within the auction.

“The advantage to the auction is that we take care of all the scheduling of employees, the hiring/ firing and disciplinary action,” he said.

Continued on page 14

Auto Finance Delinquency Rates Start to Rise

The auto loan delinquency rate (the ratio of borrowers 60 days or more delinquent on their auto loans) increased to 1.04 percent in the third quarter, up on both a quarterly and yearly basis (from 0.87 percent in the second quarter and 1 percent in the third quarter of 2012).

The delinquency rate, though, is well below the third quarter average of 1.22 percent observed between 2007 and 2013.

Auto loan debt per borrower increased for the 10th straight quarter, moving up 4.7 percent from $15,943 in the third quarter of 2012 to $16,685 in the third quarter. On a quarterly basis, auto loan debt also increased from $16,410

in the second quarter.

The data provided are gathered from TransUnion’s proprietary Industry Insights Report, a quarterly overview summarizing data, trends and perspectives on the U.S. consumer lending industry.

The report is based on anonymized credit data from virtually every credit-active consumer in the U.S.

The subprime delinquency rate increased to 5.6 percent in the third quarter from 5.3 percent in the third quarter of 2012.

Despite the increase, the delinquency rate remains near levels observed in recent third quarters.

Collectible Car Dealer Seeks New Downtown Home

By Jenny King

Veteran dealer Jerry Hunt is on his way to opening a one-of-a-kind store on Benton Harbor, Mich.’s Main Street.

Hunt, who owns Jerry Hunt’s Auto Center about a mile and a half away in Benton Township, plans to mix collectible older cars, motorcycles and motorbikes with some late-model, lowermileage used cars at a site in downtown Benton Harbor.

“Buildings in the immediate area are being re-habbed with retail on the first floor and condos above,” Hunt said.

But the developer of the property on Main Street, which Hunt owns, said a used-car dealership “doesn’t fit in,” Hunt says.

And new zoning laws that took efect earlier this year will require Hunt to obtain a special use permit. The dealer says he already has submitted a $1,200 check toward a permit.

Hunt has met the city’s emergency manager, Tony Saunders, who will have the

final say on a permit. The local zoning board in November voted 3 to 2 in Hunt’s favor.

“I started in the car business at a Toyota store over 40 years ago,” says Hunt, whose current dealership, Jerry Hunt’s Auto Center on M139, stocks about 40 late-model cars with an average price of $7,000.

Hunt, who plans to buy special cars and motorcycles from trader magazines and on-line, says he displayed vehicles from his own collection at the Auto Center last summer. They proved a great draw.

A huge supporter of Benton Harbor, Hunt owns the building and property on Main Street. In anticipation of an eventual “yes” from the city, the dealer has dressed up the plain facade of the pre-war building.

“This was once a gas station,” he said. “We have remodeled it to draw crowds, using things like neon roping across the front.”

Hunt plans to call the business Classy Cars On Main Street.

CarMax Hires for New Superstores

CarMax Inc. is hiring staf in preparation of opening three new stores.

The used-car superstore chain is currently hiring approximately 140 positions, including 30 automotive technicians, for the compa-

ny’s new store in Frederick, Md., scheduled to open in February 2014 In addition, CarMax is ofering a signon bonus up to $5,000 for technicians who apply before Dec. 20.

The new Frederick store is and will be CarMax’s 7th store in Maryland. CarMax is also currently hiring for the company’s new stores the Sacramento, Calif., area and in Dothan, Ala. These stores will open in Feburary and March.

NEWS BRIEFS

DealerRater Marks Growth

DealerRater has surpassed 1.2 million submitted reviews.

Reaching that milestone, DealerRater now maintains more car dealership reviews than the next five consumer sites combined. Specifically, DealerRater ofers 43 percent more reviews than Google+, Yelp, Edmunds, Cars.com and Yahoo! Local combined.

The company also announced it has surpassed 4 million monthly exposures, defined as the number of users exposed to either a DealerRater review or their branding each month.

DealerRater also announced its integration with Kelley Blue Book.

Kelley Blue Book’s Price Advisor now enables dealers to display DealerRater reviews and ratings.

Both DealerRater Certified Dealers and non-certified dealers have the ability to display their DealerRater reviews on KBB.com.

GETTING IT STRAIGHT

A story in the Nov. 6 issue titled “Dealer Admits to Laundering Cash” stated that Eddie L. Bynum Sr.’s dealerships were in Vancouver, Ore.

Bynum is an Oregon resident, but the dealerships are located in Vancouver, Wash.

Ally Lessens Government’s Stake

Ally Financial Inc. has completed a private placement of 216,667 shares of Ally common stock for an aggregate price of approximately $1.3 billion.

In addition, Ally completed the repurchase of all outstanding shares of the mandatorily convertible preferred securities held by the U.S. Department of the Treasury and eliminated the share adjustment provision. As a result, Ally has repaid the U.S. Treasury $5.9 billion toward the investment that was made in the company.

The U.S. Treasury currently holds approximately 64 percent of the common equity in Ally, down from 74 percent, and the remaining 36 percent of the common equity is held by a diverse mix of existing and new institutional investors.

Finance Company Completes Securitization

CarFinance Capital LLC has completed its second rated asset-backed securitization of $304 million of

notes in a transaction that closed Oct. 24.

The ofered notes were assigned ratings by Standard & Poor’s Ratings Services, Moody’s Investor Services Inc. and Kroll Bond Rating Agency Inc. The senior class of ofered notes were rated A by S&P, A3 by Moody’s and AA- by KBRA.

Deutsche Bank Securities and Credit Suisse were joint book-runners for the transaction.

Copart Reports Higher Revenue

Copart Inc. reported financial results for the quarter ended Oct. 31.

For the three months, revenue,

operating income and net income were $279.9 million, $65 million and $41.4 million, respectively. These represent an increase in revenue of $41 million, or 17.2 percent; and decreases in operating income of $9.4 million, or 12.6 percent; and in net income of $4.4 million, or 9.6 percent, respectively, from the same quarter last year.

Included in the financial results for the most recent quarter are the results of Copart’s QCSA acquisition, which closed on May 30. These results included revenues of $17.2 million and expenses, excluding severance and lease termination costs, of $17.9 million.

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High End Auto Auction Sets New World Records

It took only two hours for two top auction houses to sell from an inventory of 31 cars, two motorcycles and seven pieces of automotive art for a total of $63 million.

Art of the Automobile, run by RM Auctions of Canada and Sotheby’s of New York, drew hundreds of wellheeled bidders in person and online, plus onlookers, to Sotheby’s Manhattan headquarters.

The Nov. 21 sale, characterized by “furious bidding,” featured highly collectible cars including the 1964 Ferrari 250 LM by Carrozzeria Scaglietti, which sold for a record for the model auction: $14.3 million. This was the top sale of day.

A curvaceous, low-slung 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi brought a winning bid of $7.15 million. This also was a record for the model at auction, RM said.

RM and Sotheby’s reported that 93 percent of all lots sold to an international audience of bidders representing 17 countries.

The auction houses said

theirs was the first major collector car auction to take place in Manhattan in over a decade. RM said a significant number of bidders had never participated in an RM sale.

Other lots also set world records. The third highest seller of the night was another Ferrari: a 1959 250 GT SWB “Competition” Berlinetta Speciale with Bertone coachwork. Described as “one of the greatest dualpurpose sports racing cars of all time,” it sold for a winning bid of $7.04 million.

Sixteen of the 31 automobiles at auction sold for over $1 million, and 11 cars set world price records, RM said.

More New Car Shoppers Consider Certified Pre-Owned

According to the AutoTrader.com 2013 Certified Pre-Owned Study, conducted by Morpace, CPO consideration for new car shoppers is approaching levels seen for used-car shoppers. However, overall familiarity with specific aspects of

CPO programs has dropped considerably. Additionally, the study showed that the percent of shoppers who are willing to pay a premium for certified vehicles decreased. However, the study showed that shoppers’ will-

ingness to consider CPO increased when exposed to more information about CPO vehicles, pointing to the fact that education is key.

Between 2012 and 2013, the percent of new car shoppers who are likely to

consider a certified vehicle increased from 43 percent to 55 percent.

Used-car shoppers considering certified vehicles remained relatively flat during that time, going from 61 percent in 2012 to 60 percent in 2013.

Hyundai Ranks as Most Reliable

CarMD.com Corp. released its 2013 CarMD Vehicle Health Index Manufacturer & Vehicle Reliability Rankings –an annual ranking of manufacturers and vehicles with the lowest combined “check engine” repair incidents and costs.

The Index ranks the top 10 manufacturers, top 100 vehicles overall, top vehicles by category and the most common repairs by make.

This year’s Index is based on more than 151,000 specific repairs performed on model year 2003 to 2013 vehicles from Oct. 1, 2012 to Sept. 30 of this year.

After two consecutive years ranked as No. 2, Hyundai unseats Toyota as the No. 1-ranked manufacturer. Rounding out the top five vehicle manufacturers of 2013 are No. 2 Toyota, No. 3 GM, No. 4 Chrysler and No. 5 Honda.

“Hyundai strives to provide our customers with a worry-free car ownership experience by ofering a lineup of vehicles that deliver on both quality and reliability, backed by the most competitive protection program in the business,” said Erwin Raphael, director of engineering and quality for Hyundai Motor America.

“Earning the first place title in CarMD’s Vehicle Health Index Report proves that our recipe for combining high value vehicles with long-term vehicle protection is a success.”

For the third consecutive year, the top-ranked vehicle is a Toyota, with the 2012 Camry ranked as the most reliable vehicle for 2013.

Previously, the Corolla ranked No. 1 with the 2009 Corolla and 2010 Corolla earning top spots in the past two CarMD rankings.

Four sedans, four compacts and two SUVs make up 2013’s top 10 list, with Nissan leading the pack with five vehicles, including the 2012 Altima (ranked no. 2), 2011 Rogue (no. 5), 2012 Rogue (no. 6), 2012 Sentra (no. 7) and 2011 Sentra (no. 9). Toyota has three cars in the top 10, including the 2012 Toyota Camry (no. 1), 2011 Toyota Corolla

(no. 3) and 2011 Toyota Camry (no. 4). Hyundai has one vehicle on the list – the 2010 Elantra (no. 8).

Rounding out the list is the 2012 Mazda 3 (no. 10), marking the first time Mazda has had a vehicle in the top 10.

This top 100 list represents the top 10 percent of more than 1,000 diferent 2003 to 2013 model vehicles on the road.

The Index also ranks the top three vehicles by category: compact, minivan, sedan, full-sized SUV, wagon/ crossover, truck and luxuy.

The 2012 GMC Sierra, ranked No. 1 in the truck category, unseated Ford from its sweep of the category last year.

In the luxury category, Buick and Lincoln unseat Lexus and Infiniti with the 2011 Buick Lacrosse, and 2010 and 2007 Lincoln MKZ vehicles.

Diferent vehicle makes tend to have a unique set of problems and common failures.

The CarMD Vehicle Health Index reveals common problems and repairs by brand, providing a resource for vehicle owners as they maintain and repair their vehicles. “Replace Oxygen Sensor” accounted for 21.6 percent of Suzuki repairs and 13.75 percent of Hyundai repairs over the past year.

In April, CarMD revealed that the no. 1 most common repair is “replace O2 sensor,” accounting for 8.31 percent of all check enginerelated repairs last year. O2 sensors measure the amount of unburned oxygen in the exhaust and tell a car’s computer when there is either too much or not enough fuel mixed with oxygen for ideal operation.

If a faulty O2 sensor is not repaired, the car’s gas mileage can drop by as much as 40 percent.

“Replace Ignition Control Module” accounted for 29 percent of Saab repairs last year; “Inspect/ Replace Battery and Charging System” accounted for 17.2 percent of Acura repairs; and 17.8 percent of check engine-related trips to the shop for Volvo owners were due to loose or damaged gas caps.

PAGE 8 - A YEAR IN REVIEW

Used Car Sales See Strength; Finance Draws Increased Scrutiny

It was a strong year for the used-car industry, with new sales records set and new auctions opening across the country.

New-car sales neared the 16 million mark, but franchise dealers showed no signs of abandoning the used-car operations they’ve invested in over the past four years.

Certified pre-owned sales topped 200,000 for the first time in August and are on track to top 2 million for the year.

Franchise dealers continued to expand their usedcar operations in all segments. For example, the Russ Darrow Group opened a used-car superstore in Green Bay, Wis., earlier this year that included a J.D. Byrider franchise.

Franchise dealers have reached these high marks for both new and used cars in part because of an abundance of financing, including subprime financing.

Experian Automotive reported that a record 84.5 percent of consumers who acquired a new vehicle in the second quarter financed their purchase.

The looser financing has cut into the buy-here, payhere business. Dealers of

Tesla’s Model S drew rave reviews this year, so much so the electric car manufacturer made a bold guarantee about its resale value.

The luxury sedan was named the car of the year by several critics, including Motor Trend, and earned a score of 99 out of 100 from Consumer Reports, becoming the magazine’s best car ever tested.

Last spring, Tesla made a resale guarantee that the Model S would have the highest resale value of any premium sedan brand made in volume, including BMW, Audi, Mercedes, Lexus and Jaguar.

Tesla also created plenty of controversy this past year by pushing for factory-

all sizes, from standalone independents to chains like America’s Car-Mart, reported losing sales to subprime financing.

“I’m seeing customers that three years ago couldn’t finance a bicycle buy brand new cars,” said Greg Goebel, CEO of Used Car University, in September.

Goebel expects the subprime market will remain strong until the fourth quarter of next year.

The downside of increased finance activity is increased regulatory scrutiny.

The Consumer Finance Protection Bureau announced earlier this year it would take up the topic most dealers dreaded –dealer participation in finance.

The CFPB’s main concern is dealers charge more to minority buyers as a result of participation.

Dave Westcott, chairman of the National Automobile Dealers Association, said consumers actually get the best price because they go through dealers.

“When it comes to indirect lending, dealers are price discounters,” Westcott said.

2013 MOVERS AND SHAKERS

Steve JordanBrian GeitnerBruton Smith

Jordan took the reins of the National Independent Automobile Dealers Association in July, following the retirement of longtime executive Mike Linn.

The NIADA’s new executive vice president had served as the association’s chief operating ofcer since 2011. Prior to that, he was executive director of the Florida IADA.

The International Automotive Remarketers Alliance also named a new executive director this year. Former auction executive Tony Long filled that vacancy.

On the wholesale side, auctions continued their recovery, with several new sales opening up.

One of those was DAA Seattle, which was a homecoming for co-owner Bob McConkey Jr. His father had opened an auction in

owned stores and seeking changes to state franchise laws to make that happen.

Dealers have fought these changes with mixed success. NADA chairman Dave Westcott told reporters last fall that dealers’ concerns were not about Tesla, but the precedent if a largescale manufacturer enters the U.S. market.

Tesla also found itself dealing with recalls and questions about vehicle safety following several reports of fires caused by the cars’ batteries. The overall future of electric cars remains uncertain despite Tesla’s success. Fisker Automotive, anothelectric car maker, went bankrupt last spring.

When Manheim merged its two floor plan components – Manheim Automotive Financial Services and Dealer Services Corp. – into one entity called NextGear Capital, Geitner became the finance arm’s president.

Since that move in January, Geitner has overseen expansion in a number of ways.

NextGear Capital added a second building to its operations in Carmel, Ind., to accommodate growth.

The floor planner also moved into new markets, including RVs.

that city in 1954.

All of McConkey’s sales belong to ServNet. The independent auction alliance celebrated its 25th anniversary this year.

Not everybody is thrilled by the recovery of the usedcar industry.

This was not a banner year for big deals in the used-car industry.

Cox Enterprises Inc. withdrew AutoTrader.com’s scheduled IPO, citing market conditions.

The company replaced AutoTrader.com CEO Chip Perry with Manheim CEO Sandy Schwartz. Schwartz retained his role at the auction chain.

DriveTime also called of a major deal that would have seen the buy-here, pay-here chain selling its portfolio to Santander.

Company executives said the deal fell through be-

Sonic Automotive became the latest franchise dealer group to make a run at CarMax Inc. when the chain announced it would open a used-car superstore in Denver in late 2014.

Smith, Sonic’s CEO and co-founder, has a reputation as a risk taker based on his experiences in the world of motorsports. It remains to be seen how this will all play out. Denver was the site of Lithia Motors Inc.’s failed attempt to start a chain of used-car stores aimed at unseating CarMax.

A number of cities passed or considered freezes on issuing permits for used-car dealerships.

These cities included Arlington, Texas, home of the National Independent Automobile Dealers Association.

cause of “unsatisfied conditions on the closings of the transactions.”

DriveTime also called of plans to sell its dealerships to a group of investors.

This is the second time in the past few years DriveTime nixed a major ownership change. The company was preparing for its own IPO in 2010, but never went to market due to weak economic conditions.

Wall Street really likes the used-car companies that are already public. Both CarMax Inc. and America’s CarMart Inc. saw their stock prices reach all-time highs.

Marc Ray General Sales Manager/Partner, Grogan’s Towne Chrysler Jeep Dodge Ram

“ Marc’s story ... OUR USED CAR BUSINESS IS UP 40%, SO WE CAN’T JUST RELY ON TRADE- INS. WE HAD TO FIND A MORE EFFICIENT WAY TO ACQUIRE INVENTORY.”

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Fast Track Your Cash

University Helps Launch Auction

A university program designed to aid small businesses helped one man achieve his goal of opening an auto auction.

With 10-plus years of experience working in the auto auction industry, Brock Elliott had always hoped to one day operate his own auto auction company. In 2012, Elliott began pursuing possible locations and available space in Kentucky.

He met with a local lender who referred him to Kim Jenkins, management consultant at Morehead State University’s Ashland Small Business Development Center (SBDC). Ashland’s SBDC has been providing small business consulting services free-of-charge for nearly 30 years.

The two met about securing a loan to open an auto auction in the area. Elliott had located some commercial property for lease in Cannonsburg. Jenkins assisted him with business planning, financial forecasting, and loan packaging.

As the plans were discussed, it became necessary to calculate his anticipated start-up costs.

Jenkins also helped him project estimated sales/income potential and overhead expenses, as well as prepare a Small Business Administration loan application.

In March 2013, Elliott was approved for SBA financing, and the grand opening of Bigg Deals Auto Auction was conducted in June.

Dealers Fight Proposed Fee Hike

DES MOINES, Iowa (AP) – Car and truck dealers are planning to fight a possible fee increase suggested by the Iowa Department of Transportation.

The Des Moines Register reports that the department has suggested increasing the fee to 6 percent for vehicle registrations. The current 5 percent fee is applied every time a customer buys a new or used car or truck.

The DOT says the higher fee

would keep pace with the state’s current 6 percent sales tax. It would generate an estimated $60 million more each year for road construction projects. Iowa does not impose a sales tax on car and truck purchases.

The Iowa Automobile Dealer Association’s 13-member board has voted unanimously to lobby lawmakers against the increase. The association represents about 400 Iowa dealers.

ADESA Boston January 10, 24

508-626-7000

ADESA Charlotte January 9, 23 704-587-7653

ADESA Cincinnati/Dayton January 21 937-746-4000

ADESA Golden Gate January 7, 14 209-839-8000

ADESA Houston January 8, 22 281-580-1800

ADESA Indianapolis January 7, 21 800-925-1210

ADESA Kansas City January 7, 21 816-525-1100

ADESA Lexington January 9 859-263-5163

ADESA New Jersey January 2, 16, 30 908-725-2200

ADESA San Diego January 9 619-661-5565

ADESA Tulsa January 10 918-437-9044

America’s AA-Chicago January 22 708-389-4488

Brasher’s Salt Lake AA

January 7, 28

801-322-1234

Columbus Fair AA January 22, 29 614-497-2000

Manheim Atlanta January 8, 9, 23 404-762-9211

Manheim BaltimoreWashington January 14 410-796-8899

Manheim Dallas January 15, 29 877-860-1651

Manheim Denver January 15 800-822-1177

Manheim Detroit January 9, 16, 23 734-654-7100

Manheim Fredericksburg January 16, 30 540-368-3400

Manheim Milwaukee January 15, 29 262-835-4436

Manheim Minneapolis January 8 763-425-7653

Manheim Nashville January 22, 29 877-386-5004

Manheim Nevada January 24 702-361-1000

Manheim New Jersey January 15, 29

609-298-3400

Manheim New Orleans January 15 985-643-2061

Manheim Orlando January 7, 14, 20, 21, 28 800-337-8491

Manheim Pennsylvania January 9, 10, 23, 24 800-777-2053

Manheim Phoenix January 3, 9, 16, 23, 30 623-907-7000

Manheim Pittsburgh January 15 724-452-5555

Manheim Riverside January 2, 7, 14, 16, 21, 30 909-689-6000

Manheim Seattle January 8 206-762-1600

Manheim Southern California January 23 909-822-2261

Southern AA January 15 860-292-7500

Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information.

ADESA Boston January 24

508-626-7000

ADESA Golden Gate January 7 209-839-8000

Manheim Atlanta January 8 404-762-9211

Manheim Dallas January 15 877-860-1651

Manheim Milwaukee January 15 262-835-4436

Manheim Orlando January 20 800-337-8491

Mazda Capital Services

ADESA Boston January 10, 24

508-626-7000

ADESA Golden Gate January 14 209-839-8000

ADESA Kansas City January 7 816-525-1100

Columbus Fair AA January 29 614-497-2000

Manheim Atlanta January 9 404-762-9211

Manheim Detroit January 9, 23 734-654-7100

Manheim Fredericksburg January 16, 30 540-368-3400

Manheim Milwaukee January 15, 29 262-835-4436

Manheim Nashville January 22 877-386-5004

Manheim New Jersey January 15, 29 609-298-3400

Subaru Motors Finance

ADESA Boston January 10

508-626-7000

Brasher’s Salt Lake January 7 801-322-1234

Columbus Fair AA January 22 614-497-2000

Manheim Dallas January 15, 29 877-860-1651

Manheim Denver January 15 800-822-1177

Manheim Detroit January 9, 23 734-654-7100

Manheim Fredericksburg January 16 540-368-3400

Manheim Milwaukee January 15 262-835-4436

Manheim New Jersey January 29 609-298-3400

Manheim Orlando January 14 800-337-8491

Manheim Pennsylvania January 9, 23* 800-777-2053

Manheim Riverside January 2, 16*, 30 909-689-6000

Manheim Orlando January 7 800-337-8491

Manheim Pennsylvania January 10, 24

800-777-2053

Manheim Pittsburgh January 15 724-452-5555

Manheim Riverside January 14 909-689-6000

Manheim Seattle January 8 206-762-1600

Manheim Pennsylvania January 24

800-777-2053

Manheim Pittsburgh January 15 724-452-5555

Manheim Riverside January 21 909-689-6000

Manheim Seattle January 8 206-762-1600

Southern AA January 15 860-292-7500

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Ford Recalls SUVs, Sedans

DETROIT (AP) – Ford is recalling the Escape small SUV again, this time to fix oil and fuel leaks that could cause engine fires.

The hot-selling SUV has been recalled seven times since it was redesigned and went on sale in the spring of 2012.

The first of two recalls announced afects more than 161,000 Escapes worldwide from the 2013 model year with 1.6-liter four-cylinder engines.

Of those SUVs, fuel lines on about 12,000 may have been installed incorrectly.

They could become chafed and leak gas.

Many were repaired under a previous recall.

Ford says the oil leaks caused 13 fires but no injuries. There haven’t been any fires from the fuel line problems.

In documents filed with the National Highway Trafc Safety Administration, Ford said it began to get engine fire reports on Escapes in late August, and began investigating.

Eventually it was able to duplicate the cylinder head cracking and decided to do a recall.

During the investigation, Ford also found warranty claims of fuel line leaks and decided to repair them as well.

In some cases, the fuel lines may have been installed incorrectly by technicians in a previous fuel line recall, the documents said.

Auto safety advocates say the high number of recalls is out of the ordinary for a new model and a sign of quality problems.

But Ford spokeswoman Kelli Felker disagreed.

“We’re committed to providing our customers with top-quality vehicles and are equally committed to addressing potential issues and responding quickly for our customers,” she said.

The redesigned Escape has been recalled seven times since July of 2012 to fix carpet padding that can interfere with the brake pedals, fuel lines that can crack, coolant leaks, and child safety locks.

Dealers will fix cooling and control systems or inspect and replace fuel lines for free.

The recalls start in January.

Ford is also recalling Ford Crown Victoria and Mercury Grand Marquis vehicles for steering issues.

A recall notice, dated Aug. 26, notified NHTSA of a safety defect condition that may result in loss of steering in approximately 355,000 model year 2005 through 2011 Ford Crown Victoria and Mercury Grand Marquis vehicles built at the St. Thomas Assembly Plant; model year 2005 through 2007 Lincoln Town Car vehicles built at the Wixom Assembly Plant; and certain model year 2008 through 2011 Lincoln Town Car vehicles built at the St. Thomas Assembly Plant and that are currently registered or were originally sold in Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, or Wisconsin (NHTSA Recall 13V-385, Ford Recall 13S08).

Ford’s recall addresses a corrosion related defect in the lower intermediate shaft that may result in separation of the steering column lower bearing and loss of steering control.

Ford’s recall will remedy the defect condition by instructing dealers to replace the lower intermediate shaft and to inspect and repair the upper intermediate shaft and steering column lower bearing as necessary. A retaining clip will be installed if the lower bearing has separated.

Credit Acceptance Earns Best Workplace Honors

By Jeffrey Bellant

Subprime lender Credit Acceptance Corp., of Southfield, Mich., was named one of the best places to work in Michigan by the Detroit Free Press.

The state’s largest newspaper ranked Credit Acceptance Corp. second among its top five winners in the large-company category just behind home mortgage firm Quicken Loans.

The Free Press named five top companies in three categories: large, midsize and small.

The winners, according to the paper, were ranked based on attributes such as innovation, flexibility, leadership and employee perks.

John Neary, Credit Acceptance Corp.’s chief administrative ofcer, said the award is just the most recent honor and represents a team efort.

“Our team members are understandably very proud of this accomplishment,” he said. “Creating a great workplace is a shared responsibility, one that we have all worked extraordinarily hard to accomplish together.

“While it is gratifying for our team

members to see us achieve this workplace recognition, the actual quality of their daily experiences at Credit Acceptance counts for more than the awards themselves.”

Neary credits the firm’s reputation in this area to a genuine commitment in creating a great workplace from the top down.

“We survey our team members frequently to understand what they would like to see in their work environment,” he said. “We take action where it makes sense to do so.”

In recent years, the company has implemented new core values, based on team member input, established a dedicated community service committee and launched a new intranet site to improve communications. It also improved the steps to welcome and train new employees.

“It’s the ‘listening culture’ that led to the award that makes us a better company,” Neary said. “We encourage innovation and ongoing feedback from all team members. This culture leads to new ideas that ultimately improve how we support and otherwise deliver our financing packages to dealers who do business with Credit Acceptance.”

Auction Recon

“The auction has no overtime exposure and they don’t own the detail supplies or paint supplies,” Hope said.

“There is a firewall for the auction, as well,” Hope said. “The employees are ours, so if there is an issue, it is ours to deal with.”

Typically, CARS receives payment based on a percentage of the revenue an auction collects from a consignor for recon services, Hope said.

CARS, based in Franklin, Tenn., operates 35 shops, including 28 auction locations.

– from page 1

tions (which later became ADT) where he oversaw the reconditioning facilities run and staffed by ADT.

In 1995, Hope moved to ADESA as vice president of auction operations and later served as a consultant and director of client services for British Car Auctions.

But with his family in the U.S. and Hope in England, the family decided they wanted to make their home in the U.S.

Soon after returning to the U.S., Hope learned that Butler Auto Auction was looking to outsource its reconditioning services, which was not common.

“Our auctions range from as far as ADESA Boston in the northeast and as far west as Manheim San Francisco and lots of places in between,” Hope said.

In some locations, CARS may just operate a detail shop, where other places may ofer a full slate of services.

On that first day, as some stafers bolted, the firm had 300 Fords that needed recon, reflecting the challenge of that first year.

“There were some long days,” Hope said.

Hope started out in the business working for a domestic manufacturer, but it became a training ground for his future recon company.

Before opening CARS, Hope worked at Chrysler in Southern California in the 1960s.

He worked in the Nu Car Prep Center and worked his way up to various senior management positions.

He left Chrysler in the 1970s and joined Anglo-American Auto Auc-

“I’m thankful for the patience people have shown us as we stubbed our toe and endeavored to do our best.”

The challenge of working in multiple locations has meant also meeting the regulations and requirements of various state and municipal laws.

“We have to make sure that we’re compliant from coast to coast,” he said.

KAR

Names New ADESA CEO

KAR Auction Services Inc. announced that on Jan. 6, 2014, Stéphane St-Hilaire will be appointed the president and chief executive ofcer of ADESA Inc. Current CEO Tom Caruso will be appointed the chief client ofcer of KAR.

Stéphane St-Hilaire

St-Hilaire currently serves as the president and chief operating ofcer of ADESA Canada.

He has worked for ADESA Canada for 15 years in positions of increasing responsibility, including the general manager of ADESA Montreal, one of ADESA’s largest auctions.

In his new role, St-Hilaire will oversee the entire operation of ADESA and will report directly to Jim Hallett, chief executive ofcer of KAR.

“Stéphane has been an exceptional leader and a driving force in building ADESA Canada,” Hallett said. “He has a vision for the increasing use of technology in the wholecar business and has been integral in the implementation of state-of-the-art information technology solutions which were incubated and piloted

PEOPLE IN THE NEWS

by ADESA Canada.

“Stéphane is extremely knowledgeable about ADESA’s operations, customers, products and employees, and is ready to assume the role as chief executive ofcer and president of ADESA.”

In Caruso’s new role as chief client ofcer, he will continue to strengthen ADESA’s relationships with its customers, but also will further integrate service oferings to customers across all of their business units.

Caruso will continue to report directly to Hallett in his new role.

CarMax Recognizes Employees

CarMax Inc. announced the 10 winners of the The CarMax Foundation’s fourth annual CarMax Cares Community Service Award.

Associates across the country were nominated for the CarMax Cares Community Service Award for their personal volunteer eforts and leadership in community giving.

Winners of the award were honored at the company’s largest associate recognition event of the year.

Each winner selected a nonprofit organization to receive a $5,000 grant on their behalf from The CarMax Foundation.

The CarMax Cares Community Service Award winners and the non-

profits selected are as follows:

Mark Bowser, sales managerin-training, Laurel, Md. – Bowser chose Capital Parners for Education, which works with low-income youth in the Washington, DC area to get to and through college, to receive the $5,000 grant.

Sarah Brown, buyer, Cincinnati, Ohio – Brown is a passionate supporter of The Dragonfly Foundation, an organization that brings comfort and joy to kids and young adults with cancer and blood diseases, and has selected this charity to receive the $5,000 grant.

Richard Caudell, systems technology programmer/analyst, Richmond, Va. – Caudell has served as a volunteer emergency medical technician with the Ashland Volunteer Rescue Squad since 2011 and has selected this organization to receive a $5,000 grant.

He has logged more than 1,000 hours each year in volunteer service to the County and was named Hanover County’s EMT of the Year in 2012.

Nancy Eckert, management assistant, Baton Rouge, La. – Eckert has organized a number of events benefiting St. Vincent de Paul Society, which strives to understand and fulfill the needs of the poor in Baton Rouge and will receive a grant of $5,000.

Eileen Ingle, management assistant, Tucson, Ariz. – Ingle has selected Our Family Services, which provides shelter and support to homeless children and families, to receive the $5,000 grant.

Jen Lignelli, management assistant, Sanford, Fla. – Lignelli has dedicated her time to programs hosted by Make-A-Wish Central and Northern Florida, which she chose to receive the $5,000 grant.

Travis Lipsman, senior buyer, Des Moines, Iowa – Lipsman is passionate about animal welfare and has selected AHeinz57 Pet Rescue & Transport to receive the grant of $5,000.

Nestor Lopez, senior buyer, Ontario, Calif. – Lopez selected Club 21 Learning and Resource Center to receive the $5,000 grant to support individuals with Down syndrome in reaching their true potential.

Kim Ridings, management assistant, Fredericksburg, Va. – Ridings is a passionate supporter of the Greater Fredericksburg Habitat for Humanity, which she selected to receive the grant of $5,000.

Kristin Roberts, buyer’s assistant, Stockbridge, Ga. – Roberts has helped renovate a home for a deserving family through Southern Crescent Habitat for Humanity, which she chose to receive the $5,000 grant.

RETAIL MARKETS

ALABAMA

Corey Braxton, owner, Auto Professional 2 Car Sales, Midfield, Ala.:

“I’ve been in business seven years. I used to be a sales manager at Anthony Underwood Automotive (in Bessemer, Ala.). I’m also a member of the Alabama Independent Automobile Dealers Association.

“I have two stores, one in Midfield, Ala., and one in the East Birmingham area.

“A majority of our business is subprime, but we do sell some prime (customers) as well. That’s always been the case. It’s about 80 percent subprime and 20 percent prime.

“Between both locations, we carry about 150 (units).

“We sell about 75 to 80 units at each location – so about 150 combined (each month).

“That’s similar to what we were selling last year.

“We get the majority of our inventory from diferent auctions in the southeast area – Tennessee, Mississippi, Georgia and Florida.

“The average model year I carry is 2007. The average

mileage is about 124,000.

“The (ratio) of cars and trucks/SUVs that I carry is 50/50.

“We sell a majority of domestic vehicles. We don’t sell many foreign vehicles.

“Our average reconditioning costs are about $400 a car. Last year it was a little bit more. But we were getting an edgier car. We’re going to a lot more auctions than we used to.

“We have our own service shop. We have six bays. We use two of them for service work, two for cleanups and the two others for GPS and other work.

“We only service our own vehicles.

“(For marketing and advertising), we just do print and radio. Every now and then, we might do some television commercials, but the majority is going to be radio and print. The print will be (local) newspaper and American Classifieds. Sometimes we’ll also do ads in the Birmingham newspapers.

“I just got finished structuring a deal on a 2012 Chevy Malibu. It had

52,000 miles. We sold that for $13,000.

“Our average retail price is around $13,000.

“Next year is looking good, but I am nervous about how this tax season is going to turn out. This past year it was drawn out and they’re saying it’s going to be somewhat similar because of the economy.

“But I’m still excited about 2014. It seems like the finance companies are releasing a little bit more funds. Over the past four months, they seem a little bit more aggressive in buying deals.”

MISSISSIPPI

Breck Daniell, sales and finance manager, Daniell Motors, Hattiesburg, Miss.:

“We’ve been in business since 1978. We have one location.

“Our inventory varies, but typically we carry in the 50to 60-unit range.

“On the year, we’re averaging about 20 per month. It’s always a little slower this time of the year.

“We buy our vehicles from

traditional outlets.

Compiled by Jeffrey Bellant

“We use Manheim sales and I have some wholesale dealers that we shop from out west.

“Occasionally, I’ll buy one from the public, but not often.

“Our average retail price has gone up. It’s probably in the $20,000 to $23,000 range. I’m selling a lot of vehicles in the $27,000 to $35,000 range.

“But I’m also keeping some of our cheaper tradeins and selling them for $7,000, $8,000 or $10,000. I didn’t use to do that.

“I carry probably 15 percent cars, 25 percent SUVs and 60 percent trucks.

“(Most) of my inventory seems to be current year model, with 15,000 miles, or three-year-olds with 90,000 miles.

“What I’d love to buy is a 2011 truck with 60,000 to 70,000 miles, but that’s just not available.

“The gap (in price) between a 2012 truck with 50,000 miles and a 15,000mile 2013 truck is such that I’ll just buy the 2013 truck.

“The trucks I carry are

almost exclusively domestic. The only imports I’ll carry are cars from Nissan, Toyota and Infiniti, which is a Nissan.

“We believe our cars are nicer than those at new-car stores because of the time we put into them. My average reconditioning costs are about $600.

“For example, if we get a car that doesn’t have factory floor mats, we’ll get factory floor mats.

“We don’t do outside service. But we do have two bays and do light work here. We do our own prep here.

“For advertising, because of the nature of our inventory, we focus hard on AutoTrader.com and Cars.com.

“We have two talk radio stations that cater to the clientele we sell to so we advertise heavy on those stations.

“We also advertise on a local TV station. The only print we do is a little magazine on the Gulf Coast.

“We’re working on a deal (at press time) for a 2010 Chevy Silverado Z71 with 63,000 miles. That’s $21,900.”

WHOLESALE MARKETS

LOUISIANA

Steve Chiasson, managing partner, Greater Shreveport-Bossier Auto Auction, Shreveport, La.:

“We’ve been in business for seven years. We have two lanes and we’re running two lanes.

“We’ve got a contract to add a third lane to the auction.

“We’re hoping to get that done by Jan. 15. The logistics are tight with reference to the parking. I don’t want to lose any parking.

“We’re at a time right now where we’re growing.

“We passed last year’s (numbers) in October.

“Business has increased. I hired two guys who are old pros in the game, guys that I trusted.

“They know the game inside and out. I was fortunate enough to put them on staf when they became available.

“Although they’re working primarily in the sales area, I would trust either one of these guys to run this auction. They’re that knowledgeable.

“We’re looking to start av-

eraging about 300 a week, as opposed to 220 to 240. (Our new people) have had that much of an impact.

“Right now, we’re averaging 57 percent (conversion rates) and that’s basically straight dealer consignment, about 90 percent.

“We don’t have the captive finance companies or the manufacturers. This is doing it the hard way.

On the fleet-lease side, they are mostly rental units, coming in with 30,000 or 40,000 miles, from Avis and Enterprise.

“They’re just coming of a little later than they used to.

“On average, we’ll draw 150 dealers, but recently we drew 180.

“That’s becoming more and more the norm. The numbers of dealers are increasing.

“We draw dealers from a 200-mile radius, from Houston and Dallas, Little Rock, Ark., and a big group from Monroe, La., and across eastern and central Louisiana.

“(On the salvage side) we’ll sell non-drivables. We do that as a convenience for

the dealers.

“We’re in the service business. We just park (the non-drivables) by the fence, the same place every week. We sell them live, not on video.

“They do surprisingly well here. We get a core group that comes every week and the first thing they do is check those out.

“A normal day for us would be less than 10 units (for non-drivables).

“For our regular (non-salvage) sale, our average price is $4,900 and change.

“That’s about the same as this time last year, maybe a little bit higher.

“Any four- to five year-old unit with decent miles – under 100,000 – will bring all the money. It almost doesn’t matter what kind of car.

“Recreational vehicles like jacked-up Jeeps and trucks – anything that would fit in a toy store – those things are insane around here.

“They’ve been talking that the tax checks will be late, but we’ll adjust.

“It’s just impossible to predict with the state of government today.”

OHIO

Compiled by Jeffrey Bellant

Chad Bailey, president, Akron Auto Auction, Akron, Ohio:

“We had our 40th anniversary in July.

“We have six lanes and we’re running six.

“(Our volumes) are anywhere between 1,000 and 1,200 (vehicles). I would say we’re pretty much on the same pace as last year.

“(Conversion rates) are in the low 60s to 65 percent.

“Over 90 percent of our vehicles are dealer consignment. We’ve always been strong on the dealer consignment side. We’d always like to get more fleet/lease, and it would be a success here. We just haven’t had a lot of penetration in that area.

“There are about 600 to 800 dealers that are actively doing business here. All things considered, it’s pretty consistent with last year. I don’t see tax season being like it used to be. But it’s probably due to technology, allowing people to get returns faster.

“We’re pretty strong in drawing dealers from

northeast Ohio – like the Cleveland, Youngstown, Akron and Canton markets.

“Our fleet-lease are bank and credit union repossessions. Those (vehicles) are a little bit of everything.

“The average price coming through the lanes is between $5,500 and $7,500, but closer to $5,500.

“We’re diferent compared to other independents in that we have our own in-house floor plan. But the deal is they have to buy through us.

“We have a GSA sale. Our market for GSA is from April through September, which are (normally) monthly sales. We ran from 300 to 400 GSA units this year. I expect the same next year. I’d like to get more, but with our government, who knows?

“We have simulcast in all six lanes and we have cars run through Online Ringman.

“We were OVE’s top lister and seller in the independent market (for 2011 and 2012). Knocking on wood, this (could be) our third year in a row.”

Certified Pre-Owned Retail Sales

ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES

DECEMBER 2013

2012 MODEL S

2011 MODEL S

BMW

Hyundai Sonata GLS 4D Sedan 2.4 15200 14650 12500 11275 9575

Lexus ES 350 4D Luxury Sedan 31400 29500 28200 24175 21250

Mercedes-Benz

Mitsubishi

Nissan

Nissan Sentra Base 4D Sedan 11950 11600 10650 9450 8250

Toyota Camry LE 4D Sedan 16800 15550 14450 12325 10925

Toyota Corolla LE 4D Sedan 12900 13000 11700 10075 8850

Volkswagen

Trucks

2010 MODEL S

Buick LaCrosse CX 4D Sedan 15400 14200 12600 11300 9500

4D Sedan

Chevrolet

Chevrolet Impala LS 4D Sedan 10850 9900

Chrysler 300 Touring 4D Sedan 14100 13350 12700 10350 8775

Chrysler Sebring Touring 4D Sedan 10850 9850 8200 5850 4625

Ford Mustang 2D Coupe 13350 13200 11800 10400 9100

Ford Taurus SEL 4D Sedan 15500 14400 13100 10450 8700

Lincoln Town Car Signature Limited 4D Sedan 18000 17900 17450 13300 10850

Ford Focus SE 4D Sedan 9350 9600 8350 6950 5575

Import Cars Dec-12 Jun-13 Dec-13 Dec-14 Dec-15

Acura TL 4D Sedan 20800 20600 18700 15050 12400

BMW 3-Series 328i 4D Sedan 21200 20600 17350 14625 12175

BMW 7-Series 750Li 4D Sedan 51500 41000 37650 31500 26375

Honda Accord LX 4D Sedan 12800 12800 11750 9725 8400

Hyundai Sonata GLS 4D Sedan 9850 9750 8300 7175 5925

Lexus ES 350 4D Luxury Sedan 24200 22500 21200 18075 15325

Mercedes-Benz E Class E350 4D Luxury Sedan 32500 27800 26200 20300 16300

Mitsubishi Galant

Nissan

Nissan

2009 MODEL S

UVA Opens Two New Sales

Car dealers in Los Angeles and Salt Lake City have new opportunities to buy and sell frontline stock with United Vehicle Auctions opening of two new locations.

“We are tremendously pleased to add these two new locations,” said John Brasher, president of Brasher’s Auctions, the parent company of UVA. “Now that we are hosting weekly sales in (six Western cities), dealers throughout the West have weekly opportunities to take advantage of the opportunities and benefits provided by United Vehicle Auctions.”

UVA’s Booksheet sale is designed specifically to help new car dealers meet the challenges in today’s marketplace, explains Brasher.

“Our UVA sales include inventory from new car dealers who are finding great success in selling their aged inventory in a trusted environment at a fair market price without have to remove it from their front line,” Brasher said. “Buyers benefit by knowing that every vehicle ofered in the sale has a clean Carfax report, has a booksheet that is guaranteed to be accurate, and is front-line ready.”

ADESA Blog Wins PR Award

ADESA announced that its blog, “Overdrive,” was recently recognized in PR Daily’s 2013 Digital PR Awards.

Overdrive received Honorable Mentions in two categories: Best Blog and Best Digital PR CampaignB2B Sector.

“It is truly an honor to be acknowledged alongside so many wellknown companies,” said ADESA’s Tom Caruso. “Our goal was to create a unique and innovative digital space where our customers and employees can connect and share 24/7.

“We look forward to continuing to build upon our success and ofering our online community timely, useful and engaging information.”

Winners of this year’s awards include a broad range of businesses from around the globe. Each was recognized for delivering bold and innovative online campaigns that “harnessed the power of digital communications to its fullest extent,” according to the PR Daily website.

Disconnected Jottings From Tony Moorby...

In order to see the future, you have to get a really good grip of the past.

Many have been predicting the demise of the auto auction business since the onset of the Internet back

in the late nineties. But like many industries, the resilience of the car business’ many facets is remarkable. The beauty is that it’s customer-led.

Mind you, if you bake in the costs of keeping some of the manufacturers afloat you have to wonder at the real price of a GM or Chrysler product when you add the tax dollars we paid to buoy their market presence. I know – they’re paying it back…!

I’ve written before, extolling the virtues of the auction business and its ability to stabilize prices, keeping individual markets from over or under supply. That capacity has been even more

housing and worms. There is a sense that, if you’re not doing these things, then you are somehow deficient and that you’re unable to serve your market and customers.

But with all the exquisite new challenges and opportunities, which I heartily support and endorse, I can’t help but get the feeling that some of the “old ways” still appeal to large audiences of dealers and their customers.

dealer’s son saying, “You did what in 20 degrees below? You went to an auction? Why?” Or the same in Phoenix in the summer? They’ll achieve the same thing from a sterile ofce a thousand miles away with a mocha latte at the end of their elbow!

that auctions had a pretty good role in vehicle redistribution, even back before the eighties when some changes enlarged access to more vehicles.

advanced with the Internet – the knowledge of pricing and vehicle availability is instant. Sharing knowledge about an individual car or truck’s history is at the end of your hand-held-communication-device. Er, sorry, phone. And dealerships, moving from bragging about having an Internet salesperson, now launch whole departments trawling the web for information on cars, customers, prices, data-ware-

I see it every week in a small auction in Chattanooga – whilst I can sell a car over the Internet to a dealer in Seattle, at a competitive price, with an underwritten description, guaranteed to describe the last nut and bolt with video and pictures akin to a proctology exam – most of the attendees come to see the market. Get a sense of its vibrancy – or the lack of it. Some just like to socialize, comparing notes and observations, seeing who’s there and who’s missing.

My point is that it’s a ‘horses-for-courses’ thing and you now have a choice. Can you hear a Minneapolis

CR R O O S S W D Sponsored

By Miles Mellor

36. Big wine holder

37. Drivers’ licenses

39. Working out a deal

40. Mercury mid-size

42. ____ Spectra

44. Crash into

46. Reno’s state

Across 1. Detroit (2 words)

6. Compact, fuel effcient car

9. Toyota pickup

12. Factory work

13. Designed for fight 15. Higher

17. Serious accident

20. Truck track

21. Veyron, for one

25. British thanks

26. L____ green

27. Saturn model

28. Romanian off-road vehicle

31. Kia SUV 34. FR-S and iQ

48. Tech executive

50. Vauxhall ____ family car

51. Gets there

53. Sporty 50’s Sunbeam

55. “Are we there ___?”

56. Little dent Down 1. Its logo has three diamonds 2. Truck weight measurement 3. Seldom seen 4. Well-liked 5. Word that turns a prospect into a buyer

6. Streamlined

7. Yellow shade

8. Japanese car maker 10. Info

11. Mena’s state

14. In debt to

16. “Pain at the ___”

18. Sched. time

19. Disney’s auto movie

22. Its original slogan was “get to know ___”

23. Nissan truck

24. 100% (3 words)

29. Gas station identifcation

30. Part of detailing 32. Touring vehicle

33. Strikingly strange, like concept cars often 35. Mid-size Hyundai 38. BRZ maker

40. 9-5 for one 41. “Se7en” sin 43. ___ clip (2 words)

That’s a good thing because the auction industry can embrace a new, up-coming audience as efciently as anyone else – and there are others. New competition abounds in the vehicle acquisition and distribution business and new ideas and innovations along with them. Hooray to that.

I’ve long held what I call my “reversion theory” about the old-style auction business. It expresses a belief

It was a huge industry then and, even with new players, it will still have a tremendous part to play but elementally dealing with the people that have always relied on weekly access to all the senses that can be sated by turning up and looking.

It would appear that even Manheim is part of that reversion, re-entering the auction market at an ‘everyday dealer’ level with their latest announcement of Go Auctions.

It looks like history is repeating itself with a glimpse into the future.

by

INSURANCE AUTO AUCTION S

45. ___ an interesting offer for you..... 47. Victory sign 49. Auto pioneer, ____s 50. Vehicle ID number, for short 52. Fourth __ (abbr.)

Circumference ratio

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NOW Available!

Deadline Thurs., January 9

February 3 - Tax Season Kickoff

Deadline Thurs., January 23

February 17 - Technology Spotlight Advertorial

Deadline Thurs., February 6

March 3 - CAR | NAAA Issue

Deadline Thurs., February 20

March 3 (Insert) - Dealers Guide to Top Auctions

Deadline Fri., February 14

March 17 - Payment Assurance Technology - Industry Vets

Deadline Thurs., March 6

April 7 - Fleet Lease Focus

Deadline Thurs., March 27

April 21 - Product Showcase Advertorial Deadline Thurs., April 10

May 1 - Data Source Book Deadline Tues., April 1

May 5 - Specialty Sales Focus Deadline Thurs., April 24

May 19 - NABD Issue Deadline Thurs., May 8

Located on CONE Rd. Sale Every MONDAY 9:30 am Over 180+unitsweekly

Proudly featuring: Ford Credit, Progressive, All State, Geico, State Farm, and various Fleet Lease

Fastest Growing Salvage Sale in FLORIDA FREE Breakfast 8:30 am (813) 247-1666 5109 Cone Road Tampa, FL33619 Indoor VIDEO SALE located at Cone Rd.

June 2 - How to Get a Life Off the Lot Deadline Thurs., May 22

June 16 - NIADA Issue

Deadline Thurs., June 5

July 7 - NIADA Quality Dealer

Deadline Thurs., June 26

July 21 - Auction Technology Focus Deadline Thurs., July 10

August 4 - Finance & Warranty Advertorial Deadline Thurs., July 24

August 18 - Best of Auctions

Deadline Thurs., August 7

September 1 - Dealers: The Next Generation Deadline Thurs., August 21

September 15 - NAAA Issue

Deadline Thurs., September 4

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