Conferences and Events

ServNet's Fall Owners Meeting & Expanded Sales for Sparkling City

Waverly, N.Y. & San Antonio, Texas - 

The owners of the 31 ServNet Auctions locations met up at the end of October in Waverly, N.Y. for the Fall Owners’ Meeting. The event, which took place Oct. 23 through Oct. 25, was hosted by the Barber family at State Line Auto Auction. The family, as part of the founding members of the auction group, is moving into its third generation of ownership and management.

“This year’s meeting was outstanding,” said ServNet president Patty Stanley, who owns Carolina Auto Auction with her husband Henry. She and Henry also own Indiana Auto Auction with their son Eric Autenrieth. 

“We decided to start a new tradition for the fall meeting that includes visiting a ServNet auction facility. It is refreshing to get back to our roots in seeing how other high performing businesses operate in our industry,” Stanley said. 

The meeting took aim at several tasks, the first to endorse the membership of Winchester Auto Auction, the newest ServNet location. A significant focus was made on discussing multi-platform selling, along with other strategies. The success of two new programs that began in 2014 was also reviewed, including ServNet’s 20 Group and ServNet’s Fleet/Lease Manager Conference.

“Programs such as these bring tremendous value to our member auctions,” Stanley said, “as they allow us to share best practices and discuss both common challenges and successes.”

Several other topics were covered, including the succession plans for ServNet’s leadership team.

News from Sparkling City 

Nearly 2,000 miles away, in San Antonio, Texas, the Sparkling City Auto Auction announced a couple of expansions to its sales plans, including the opening of a sixth lane and a second sale day.

“Needing more room to grow is an exciting opportunity for us at Sparking City Auto Auction of San Antonio,” said Wade Walker, the auction’s owner. “We started out with four auction lanes and added a fifth lane just last year. Now four years in operation, we’re adding our sixth lane and have added a second sale day on alternate Thursdays to keep up with rising demand and to best serve our customers.”

The auction’s sixth lane opened for the first time on Nov. 11, while the auction hosted its first Thursday afternoon sale the week before.

“Our new Thursday afternoon sale starts at 4 p.m. and features fresh consignment, giving our customers a second opportunity during the week to purchase the best inventory available in the San Antonio market,” Walker said. “We’ll be holding this Thursday afternoon sale every other week through the end of the year, and then expect to hold it weekly in January.”

4 Key ‘Super Segments’ Automakers Should Be Focusing On

SANTA MONICA, Calif. - 

There has been a lot of talk, as new automotive sales continue to increase, about what the overall sales number will be for this year. TrueCar forecasts total sales for the year will reach 16.4 million units — the best since 2007 — and could possibly reach toward 17 million units in 2015 if economic conditions continue to improve.

And as some predict that the demand for automotive products has nearly reached its peak, John Krafcik, TrueCar’s president, believes all manufacturers still have quite a bit of room for improvement. Presenting at the Automotive Press Association last week in Detroit, Krafcik outlined four key areas, coined as “super segments,” which cover four specific revenue streams associated with four product categories.

The four segments – mass-market cars, mass-market utilities, pickup trucks and premium brand vehicles (all types) – are what Krafcik believes manufacturers should be focusing on, because, according to him, no one is dominant in all four areas.

“For individual automakers the revenue mix across the four super segments varies considerably,” Krafcik said. “Some are overly reliant on mass-market cars – notably Volkswagen Group and Hyundai-Kia – while others are significantly over-weighted in pickup and utility segments, such as Fiat Chrysler. Remarkably, no automaker has a revenue mix even close to the consumer-driven industry mix.”

Krafcik recommends that those evaluating the industry should, instead of just looking at units sold, focus on the revenue streams. The market, based on TrueCar’s data, is forecasted to generate $521.5 billion in revenue by the end of the year, compared to $292 billion in 2009. Here are several other key observations, according to the company:

  • From 2009 to 2014, total U.S. auto industry revenue growth of at least 79 percent is outpacing the 58 percent unit growth forecast for the same period.
  • That trend should continue into 2015 as economic growth continues and the price of fuel remains relatively stable.
  • Looking solely at industry volumes, without factoring in the richer margins and revenue generated by three of the four vehicle segments, masks how truly robust the industry is.
  • During the 2009 to 2014 period, pickups and mass-market utilities, which deliver higher transaction prices and margins than mass-market cars, increased their share of industry revenue to 50 percent from 44 percent.
  • Industry trends point to stabilization in revenue mix, though not unit mix, comprised of 30 percent mass-market car (``three-box'' vehicles); 30 percent utility (``two-box'' vehicles); 20 percent pickup; and 20 percent premium vehicle.

What do all the numbers suggest? According to Krafcik, there is a significant economic opportunity for each of the major players in the automotive industry to broaden their portfolios and potentially realign themselves with other manufacturers, whether it be through mergers, acquisitions, partnerships, etc. to create more “revenue-balanced OEM groups.”

AASC Brings Consignors to Inaugural Roundtable

CHICAGO - 

Auto Auction Services Corp. announced that it had recently hosted a workshop with key consignors to “design the future of remarketing.” The Aug. 18 event lasted half a day and included 13 client organizations that represented a cross-section of the remarketing industry’s commercial consignors.

Those present at the meeting, dubbed “Project Client Insight,” discussed the business and technology opportunities and challenges that are faced in the remarking industry with the aim to brainstorm ideas for the future. While agreeing on issues such as multi-platform selling, vehicle grading consistency and condition reporting, all participants also agreed that more emphasis needs to be placed on performance-measuring data and business accountability.

Eighteen long-term ideas for new technology and services were presented, five of which were prioritized into a short-term project list, according to the AASC:

  1. A “Set for Sale Calendar” tool
  2. New sales results dashboard metrics
  3. Numerous additional pre-calculated “smart fields” in AutoIMS
  4. An effort to drive standardization in auction expense reporting
  5. The development of more robust mobile tools for the industry

“As a result of the PCI meeting, we are confident that these projects will have a meaningful, positive and lasting impact on the industry and our clients’ bottom lines,” said Joe Miller, AASC’s customer service director.

Getting Social with CPO Forum & Used Car Week

LAS VEGAS  - 

A few months ago, Used Car Week began rolling out its social media plan, including the introduction of our official conference hashtags.

And if you read this post on Used Car Week’s “Behind the Scenes” blog summarizing that plan, you may still be recovering from laughter fits, courtesy of this Jimmy Fallon clip.

(So are we, by the way).

But we hope you’re also spending some time sharing your excitement for the Used Car Week conferences on Twitter, LinkedIn, Facebook, Instagram, Tumblr, Pinterest, and all of the niche social media sites that no one’s even heard of yet but will be the Next Big Thing.

And as you share and like and post and tweet, be sure to be a responsible hashtagger and use our official conference hashtags: 

CPO Forum: #EliteInventory

SubPrime Forum: #SpeakingFinance

Re3 Conference: #RevUptheTurn

National Remarketing Conference: #GreatIdeas

In addition to our hashtagging, Used Car Week has also rolled out its official, new-and-improved Facebook page.

Be sure to check it out for great attendees photos from 2013 (see if you can spot your pic!) and must-have info for this year’s event.

For even more daily updates on conference speakers, tips from industry insiders, fresh analysis and more, be sure to keep tabs on @UsedCarWeek on Twitter.

And stay tuned for even more social media fun throughout the various Used Car Week social media campaigns, presented by Equifax, as we get closer to November!

Social Media at CPO Forum

For those of you particularly interested in the CPO Forum, social media expert Kathi Kruse will be moderating a general session titled, “Top 10 Things You Can Do Now to Improve Your Store and Create a CPO Sales Champion" at10:30 a.m. on Nov. 11 during Used Car Week.

Kruse is also hosting a workshop at 1:00 p.m. on Nov. 10 during the CPO Forum as well.

Similarly, Cory Mosely of Mosely Automotive and Paul Potratz of Potratz Advertising will be sharing a discussion at the CPO Forum on “Advertising and Marketing CPO” at 11:15 a.m. on Nov. 11 that looks at integrating digital, social and new media strategies to attract, keep and satisfy more CPO and pre-owned buyers.

The CPO Forum will run Nov. 10 and Nov. 11 as part of Used Car Week — a series of four conferences being held Nov. 10-14 at the Red Rock Casino, Resort and Spa in Las Vegas.

For more information, visit cpo.autoremarketing.com or www.usedcarweek.biz.

And remember: early registration ends Oct. 10, so act quickly and register now to get the best rates!

 

ServNet Auctions Highlight Expansion, Rock & Roll, and Roasted Corn

CARY, N.C. - 

ServNet Auctions  have been making moves in the remarketing industry during the summer months.

DAA Northwest presented its Rock & Roll Sale in the middle of July, bringing dealers from the U.S. and Western Canada to Spokane, Wash. for the event. The sale featured consignments from Ford, Harley-Davidson, Avis and Toyota, among others, and brought 1,000 dealers to the auction's lanes. 

Additionally, Credit Acceptance Corp’s Dealer Exchange Meeting was held in conjunction with the sale, catering to 60 dealers. 

Across the country in Township, Mich., the Flint Auto Auction began its expansion with 27 acres of parking and 8,000 square feet of office space. Bill Williams, one of the auctions owners, said gaining the property and beginning construction could not have happened at a better time.

“The timing on the property acquisition was ideal, allowing us to prepare additional acreage for the lease returns which are showing increases and will continue to expand into the coming year,” Williams said. “In addition to making way for additional vehicle storage, we were also able to add 118 more spaces for customer parking, to accommodate the increasing numbers of people who attend the auction every week to buy and sell in the lane.”

To the Southeast, it was Christmas in July at the Carolina Auto Auction, who hosted over 700 dealers and over 1,400 consigned vehicles at the annual event. One thousand snow cones, provided by Black Book and CAA, cooled the summer event, which featured $30,000 in cash and prizes.

Brasher’s Northwest Auto Auction will host their Anniversary Sale and Corn Roaster on Sept. 17 in Salt Lake City, which will feature fresh-roasted corn on the cob and several other promotions and prize drawings throughout the day’s events. 

Auction Anniversaries, Community Outreach & Giveaways Abound

ATLANTA, KANSAS CITY & SANFORD, Fla. - 

Manheim announced that six of its auctions wiill celebrate fifty or more years of business this year. Manheim Area Illinois, which opened in 1949, will celebrate its 65th year of business on Sept. 16, when it will host a 65-inch television raffle and other assorted giveaways. Manheim locations in Seattle, Chicago and New York will turn 60 this year, as well with locations in Toronto and Albany turning 50.

Moving along to a few ServNet auction members, KCI Kansas City, which created a community outreach program, KCI Cares, three years ago, continued their history of giving back to their community with a voluntary trash pickup via the Adopt-A-Highway program. Adorned in orange vests and gloves and wielding pokers along a mile-long stretch of I-29, the KCI staff spent three hours cleaning the area, filling 70 bags of trash. KCI members also spent time a few weeks later at Camp Quality, a week-long camp for children suffering through cancer.

Moving southeast to the Sunshine State, Florida’s own Sanford Auto Dealers Exchange have partnered with Ally Remarketing/SmartLane for a ten-week promotion that includes a raffle, with chances to win one of ten Wolfe RX50 scooters. The promotional event kicked off on Aug. 5 and will continue through Oct. 7.

NJ Auto Retailers Unite for Valerie Fund

MAPLEWOOD, N.J. - 

Dealerships from all over New Jersey have raised over $500,000 for The Valerie Fund. Currently 177 different dealerships have come together to collect donations for the fund, whose mission is to raise money to support the comprehensive healthcare of children with cancer and blood disorders.

The campaign, titled New Jersey Auto Retailers Unite, began June 1 and will run through September 30, with a celebratory event on September 14 to reveal its “My First Car” coffee table book, featuring first car stories from various New Jersey athletes, celebrities and public figures.

Those that test drive a vehicle between now and August 30 at a participating dealership will receive a voucher for a car giveaway sweepstakes, with nearly 2,000 registrants already tallied for the event. Three additional vouchers are given to those that purchase a vehicle.

James Appleton, the president of the New Jersey Coalition of Auto Retailers, applauds his organizations charitable donations to its community.

“Auto retailers contribute millions of dollars to hundreds of charities every year in virtually every community throughout New Jersey,” Appleton said. “The New Jersey auto retail community has come together like never before to support the thousands of children with cancer and blood disorders and the tremendous care they receive from The Valerie Fund.”

For more information about the New Jersey Auto Retails Unite campaign, The Valerie Fund, and the New Jersey Coalition of Auto Retailers, visit their site here.

Manheim Tampa to Host 25th Anniversary Sale

TAMPA, Fla. - 

In an effort to recognize its customers and celebrate a significant milestone, Manheim Tampa will host a 25th anniversary sale on Thursday.

More than 2,500 units are expected for the regular weekly consignment sale at Manheim Tampa beginning at 9 a.m. ET on Thursday. The auction will be giving away rock ''n' roll gift baskets, iPads, large screen TVs, Xbox systems, Hard Rock Cafe gift cards and more prizes during Thursday’s sale.

On Wednesday night, the auction will host a “social hour” from 6 p.m. to 7:30 p.m. at the auction with live entertainment for dealers and commercial clients. 

“We would like to thank all of our employees for their dedication to our auction,” Manheim Tampa general manager Mark Willey said.

“I also want to extend appreciation to our loyal customers who continue to buy and sell vehicles at our operating location,” Willey continued. “We want to pay special tribute to our customers this week.”

Manheim Tampa, which opened in 1989, is located at 401 S. 50th St., in Tampa, Fla. It is among 78 auctions in North America that are part of Manheim. The auction features 14 lanes, a paint and body shop, and offers mechanical shop and reconditioning services.

The Tampa location employs 187 people.

Preview of Feature on IARA Remarketing Roundtable

CHICAGO - 

It’s not uncommon for conference attendees to make travel plans for their arrival and departure to be scheduled as close to the event’s start and finish as possible.

Tony Long, executive director of the International Automotive Remarketers Alliance, suggests that executives and managers from auctions, consignors, finance companies and dealerships use a different approach for the organization’s 2014 Remarketing Roundtable, which runs from Aug. 19 through Aug. 21 at the Hyatt Regency McCormick in Chicago.

“This is a record membership year for IARA. Our membership committee has done a fantastic job. Our education and conference committee is working hard to bring all of the last-minute details together for this meeting. Many attendees are coming in a day early and staying a day late because of sidebar activities that are taking place in addition to the main program,” Long told Auto Remarketing.

“IARA is driven by identifying the needs and opportunities that exist in the remarketing industry. There’s probably going to be one or two surprise projects that come out of the meeting. We’re working on a number of initiatives as we speak,” he continued.

Along with series of committee meetings as well as certification seminars and testing, the Remarketing Roundtable has a trio of keynote speakers who will cover a wide range of topics.

The keynotes begin with Daniel Gemp, who has been the president and chief executive of Dreamscape Marketing since its founding in 2005. Dreamscape is a provider of professional business-to-business and business-to-consumer marketing strategy, lead generation and custom digital campaign development.

Following discussions about multiplatform buying and selling — two hot topics that have dominated the remarketing world — IARA welcomes back Melinda Zabritski, senior director at Experian Automotive.

“Melinda Zabritski of Experian was with us last year, and she was so well accepted that there was a demand for her to come back as our luncheon speaker this year,” Long said. “We’ll be interested to hear her trends analysis and see how things have changed and what to expect in the near future.”

The keynote presentations wrap up with another appearance by Shama Kabani, CEO of the award-winning Marketing Zen Group, which has averaged annual growth of more than 400 percent since beginning operations in 2009.

For more details on the 2014 IARA Remarketing Roundtable, check out the Aug. 15 edition of Auto Remarketing. The digital version of this magazine hit email inboxes Tuesday and can also be found at digital.autoremarketing.com.

Ford Neighborhood Awards Bound for Atlanta

DEARBORN, Mich. - 

The Ford Motor Co. will host its 2014 Ford Neighborhood Awards for the eighth consecutive time this weekend. For the first time in Atlanta, the ceremony, hosted by Steve Harvey, will continue its tradition of honoring local leaders and organizations for their contributions to their neighborhoods.

For the second year, a $30,000 check will be given for the winner of the Community Leader of the Year Award, which will be used as a donation to the winner’s nonprofit organization of choice.

The Neighborhood Awards will kick off on Friday with Ford’s first-ever “Pink Friday,” which will raise money for breast cancer research via the Susan G. Komen local affiliate from the Ford Warriors in Pink, who will donate $20 for each of the first 250 test drives the company offers at the event.

Shawn Thompson, Ford’s manager of multicultural marketing, looks forward to continuing the event’s legacy of giving back to those who give to their communities.

“Our goal as a brand is to not only go further when it comes to our products, but also as it relates to our communities,” Thompson said. “With this award and donation, we are able to play a role in directly impacting the local community of this year’s winner – extending our involvement beyond the actual awards show.”

Thompson added: “For eight years, Ford has remained committed to this event and what it represents. We look forward to recognizing everyone who is being honored this weekend, in addition to sharing some of our newest products and technologies with attendees.”

Described as “the Oscars with an urban flair,” there will be a bevy of awards presented at the event. Ford will also be showcasing several of their new models on site including the 2014 Fusion and 2015 Expedition. For more information about the event, visit the 2014 Ford Neighborhood Awards website here.

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