September 2012

Windsor Remarketing Changes Name

FORT WORTH, Texas - 

Windsor Remarketing officially has a new name. After its president, Scott France, acquired the company from the Windsor Group, the firm is now known as Caprock Auto Remarketing.

Officials explained that the day-to-day team is intact, “so nothing has truly changed but the name.”

Caprock aims to help auto lenders, banks, credit unions, dealer groups and investors remarket repossessed vehicles in a quick and effective manner, the company said.

“The word 'caprock' offers a clear illustration of who our company is and what we deliver to clients," stated Scott France, president of Caprock Auto Remarketing.

“In nature, when erosion takes place and the earth washes away, the caprock is left standing. Like the resilient caprock, our team has worked for decades in the auto loan servicing and remarketing industry. We are here to stay,” added France, who is also a former executive at Triad Financial, AmeriCredit and World Omni.

Explaining the change in more detail, the company said its operational processes won’t change. However, Caprock emphasized that it is “implementing several technology improvements, including online remarketing assignments and online updates for customers.”
 

Edmunds Offers Take on Monthly Used Sales; Chrysler to Notch Best New Market Share in Year

IRVINE, Calif. - 

September draws to a close this weekend, ending what appears to have been a rather solid month for used-vehicle sales, according to Edmunds.com.

The company is anticipating 3.13 million used sales for the month, which would be relatively static compared to the 3.14 million used sales in August. Compared to September 2011, it would be a 2.35-percent gain, Edmunds noted.

Edmunds’ projections follow forecasts from CNW Research and TrueCar, which projected 3.49 million used sales and 3.42 million used sales, respectively.

New-Car Projections

On the new-car side of the market, Edmunds projects there will be 1.15 million sales for the month, besting last September by 8.8 percent. This translates into a seasonally adjusted annualized rate of 14.4 million.

At this rate, new-car sales would align with Edmunds’ latest full-year forecast (14.4 million sales).

“There’s a feeling among dealers and automakers that car sales are easing into cruise control, and that’s a good feeling for an industry that’s felt more than its share of bumps in the last few years,” says Edmunds.com senior analyst Jessica Caldwell. “This month’s results offer more evidence that car buyers are finding the right signs to jump back into the market.”

Edmunds is forecasting a fleet share of 17 percent and an 11.9 million unit retail SAAR.

Breakdown by OEMs

Within the new-car sales performances of the largest OEMs, perhaps the highlight of the month was Chrysler.

Though its projected year-over-years sales hike is not as strong as others, the Big 3 automaker is expected to command its largest market share in a year (Edmunds anticipates a 12.1 percent share for Chrysler).

Projected to see the biggest gains in sales from September 2011 are Toyota (up 32.2 percent) and Honda (up 28 percent), respectively. Chrysler leads the Big 3 with an anticipated hike of 8.4 percent, according to Edmunds.
 

NRC Brings Top Used-Vehicle Directors to the Table

SCOTTSDALE, Ariz.  - 

While dealers play a huge role in the CPO Forum, they’re also a vital part of another Used Car Week event: the National Remarketing Conference. In the lanes, on the lot and online, dealers are the lifeblood of the remarketing industry, and one session in particular at NRC will give them the opportunity to share their experiences.

On the second day of the NRC, used-vehicle directors from some of the top dealership groups in the country will gather to discuss the top trends in the used-car industry in 2012 and their expectations for 2013, including dealer consignment, used-car sales volume and certified pre-owned opportunities.

Join us for this discussion with:

•    Greg Johnson, of Larry H. Miller Group
•    Jack Anderson, of West-Herr Automotive Group
•    Gene Detrick, of Earnhardt Automotive Group
•    And more top dealers will be added!

For the latest updates on this and other panels, click here to view the full NRC agenda online.

The National Remarketing Conference, part of the Used Car Week series of conferences, will take place Nov. 14–16 at The Phoenician Resort in Scottsdale, Ariz. For more information, to register or to view a complete agenda, visit nrc.autoremarketing.com.
 

BMW Financial Services & Manheim Highlight Success of Lender's First Simulcast Everywhere Sale

WOODCLIFF LAKE, N.J. - 

Utilizing Manheim’s Simulcast Everywhere technology for the first time, BMW Financial Services shared its recent sale was a success, with more than 70 BMW franchised buyers taking part.  

The lender's first Simulcast Everywhere sale had more than 3,000 total bids in this first-of-its-kind sale format, “designed to allow BMW Financial Services to sell vehicles directly from any location,” officials noted.

The event featured vehicles from Manheim’s North Jersey Distribution Center, Manheim Ohio and Manheim Greer, and took place at Manheim Ohio, on June 25. 

BMW Financial Services sold 84 percent of the vehicles offered, the company reported.

“BMW Financial Services has partnered with Manheim on many other products before because Manheim routinely introduces revolutionary technology to the industry,” said Rich Perkowski, regional auction operations manager for BMW Group Financial Services.

“Our first Simulcast Everywhere Sale attracted BMW franchise buyers from a national perspective and BMW Financial Services was satisfied with the sales volume. Simulcast Everywhere definitely marks a new era in automotive remarketing, and we are looking forward to future successful sales,” he continued.

Manheim’s Nick Peluso, senior vice president of customer management, said, “Technological innovations such as Simulcast Everywhere drive us to continually develop solutions that make it easier for our customers to do business with Manheim.

“It’s wonderful to have such successful sales results with BMW Financial Services on their first-ever Simulcast Everywhere sale,” he added.

And this isn’t the first time BMW Financial Services and Manheim have partnered recently.

Last year, BMW Financial Services and Manheim partnered on a new iPad technology that “provides BMW Financial Services with data and real-time selling analysis, delivering valuable sales data from Manheim locations across the entire country to reps’ fingertips,” officials shared.

The technology also allows BMW Financial Services to reposition inventory based on the market strength.
 

Motozuma Expands Down Payment Savings Match to Used Cars

NAPERVILLE, Ill.  - 

Potential used-car buyers can now get a little help with their down payment, thanks to a new program announced this week by social-savings website Motozuma.

By setting up a free Motozuma account to save for a down payment, prospective buyers can receive a dollar-for-dollar match of up to $200 on any used vehicle purchased from a Motozuma Preferred Used Car Dealer.

The patent-pending platform also offers an interface the company says will allow savers to receive monetary gifts from their family and friends. The used-car program will roll out first at Chicago-area dealers and will immediately expand to include a nationwide network of dealerships, the company said.

The savings program for used-car buyers marks a next-step for Motozuma; the company launched in 2009 with an emphasis on new vehicles.

“Motozuma has already made it possible for thousands of people to harness their social networks to help save for and purchase a new vehicle,” said John Morgan, founder and chief executive officer of Motozuma. “Now we are excited to offer this $200 reward, which is free money, toward a down payment on a used vehicle.”

While Motozuma reports that nearly two-thirds of its current users are younger than age 35, its savings platform is open to shoppers of all ages.

“The used-car savings match offers a tremendous value, whether it’s used toward the purchase of a buyer’s first vehicle or the replacement of an existing vehicle,” Morgan noted.

Here’s how the used-car savings program works: Prospective buyers set up a free Motozuma account, then begin fueling their savings with deposits from an existing checking or savings account.

The site also features tools for users to notify and engage their social network for contributions.

Once their down payment figure has been achieved, buyers identify a desired used vehicle at any Motozuma Preferred Used Car Dealer and initiate the transfer of the down payment funds to the dealership. Down payment savings can be applied to any make and model of used vehicle available, the company said.

All Motozuma Preferred Used Car Dealers are trained on the company’s process, officials noted.

In a special deal on the new-car side, shoppers who use Motozuma account funds for a down payment on a new Hyundai are currently eligible for a dollar-for-dollar matching incentive up to $500.

For a list of all participating Motozuma Preferred Used Car Dealers, visit Motozuma.com.
 

NIADA Taps DSC of Indiana as Platinum Corporate Partner

ARLINGTON, Texas - 

The National Independent Automobile Dealers Association revealed its newest NIADA Platinum National Corporate Partner on Thursday with the addition of Dealer Services Corp. of Indiana.

By aligning with DSC, NIADA said the move is meant to further its commitment to the success of independent dealers.

The association highlighted that during the past seven years, DSC has experienced rapid growth to become one of the leading independent floor plan finance companies in the used-vehicle industry.  

An award-winning technology-based company purchased by Manheim at the beginning of this year, DSC offers a number of digital solutions to enhance dealers’ businesses and improve efficiencies.  

DSC president Brian Geitner emphasized pace-setting tech solutions are combined with “best in the industry” service and an innovative employee base to meet dealers’ diverse needs.

“We’re extremely excited about this new partnership with the NIADA,” Geitner said.

“Together we’re taking it to the next level, delivering critical information to auto dealers across North America to help them make better decisions to build their businesses. Dealer success is our common goal,” Geitner continued.

The newly announced partnership is part of a national outreach effort by NIADA to provide decision-making information to dealers while strategically linking dealerships with national industry partners. This alignment allows for the exchange of valuable information between NIADA members and DSC.

NIADA chief executive officer Mike Linn added, “We are extremely pleased to endorse and bring DSC on board as a premier NIADA National Corporate Platinum Partner.

“Our members have utilized DSC’s auto finance floor plan services for many years with tremendous results in enhancing their store profitability and inventory turn,” Linn went on to say. “We look forward to building on this support of our industry through a deeper partnership with DSC.”