CARY, N.C. -

As part of Used Car Week's National Remarketing Conference, Cherokee Media Group will recognize our National Remarketing Executives of the Year, an award program presented by Auction Management Solutions. 

Receiving this year's honors are Jackie Malik and Tony Markel, remarketing supervisors at Credit Acceptance. 

Below is a Q&A with them.

Auto Remarketing: For each of you, how did you find yourself in the auto remarketing/wholesale auction business? Was automotive always something you wanted to pursue? 

Tony Markel: You could say I didn’t find myself in the auction business, but rather I was born into it. I come from a generational used-car family, which my grandfather started in 1957. Since my parents owned the business together, I was a toddler when I started “going to work” at their lot. I owe a lot to my dad though, as he taught me every aspect of the business, from cleaning the shop, to mechanical repairs, to sales and finance. 

As soon as I looked old enough, he would sneak me into the auctions with him where I would find myself bidding on cars that I couldn’t even drive yet. I’m a believer that anybody that has been to an auction finds themselves hooked from the beginning. When the position opened at Credit Acceptance to be an auction coordinator, I jumped at it, and I haven’t looked back. 

Jackie Malik: My father worked for franchise dealers until he retired. Because he loved the car business, he encouraged my siblings and I to find jobs in the industry.

At one point five of us were working at dealerships in various roles. I transitioned my dealership experience to the remarketing department at Credit Acceptance in 2001. Remarketing used cars is a constantly evolving and rewarding industry. There are new challenges to keep it interesting and exciting. 

AR: What do you enjoy most about the remarketing business? 

Tony: I really enjoy the people and the pace. I think Jackie will agree that no two days are ever alike, and as a group we are constantly changing and evolving. The people you meet along the way are some of the best people you will meet in the world. The remarketing industry really leads to lifelong business relationships as well as friendships. 

Jackie: There are new situations to work through all the time. I love the challenges, the fast pace and the great people in this industry. 

AR: How has the business changed the most since you started? 

Tony: I think the biggest changes I have witnessed come from a technology and data perspective. I believe we have come a long way in the decision-making process by using data analytics, and the technology makes every aspect easier. We were an early adopter of remote repping, and the process has continually evolved to turn into a great experience from wherever you are working. 

Jackie: The amount of data available and the ease of accessing and using it has improved significantly since I started. Online inventory management and condition reports, along with simulcast and online sales, developed quickly in the first few years of my career. Everything is so much more efficient and data-driven now. 

AR: From the vantage point of a consignor, how has COVID-19 impacted your remarketing strategy? 

Tony and Jackie: As a company we moved quickly at the outset of the pandemic to stop repossessions and throttle back auction sales. These rapid changes allowed us to better assist our customers with added flexibility to redeem their vehicles.

Tony: I think the biggest impact we have seen is adaptability. At the outset we found ourselves in daily meetings, sometimes multiple times a day, to find out what auctions were open or closed. That changed by the hour. We’ve become a more agile group, giving us the ability to make changes quickly and help us fortify our overall digital strategies.  

Jackie: Our strategy is always centered on what is best for the customer and the company. I think COVID-19 has challenged us to quickly adjust in specific markets, as needed, using all the tools and information available. The auction industry has been great at sharing timely information on market trends, so we are all able to adapt quickly. 

AR: Outside of impacts from the pandemic, what are some of the trends – from a volume, pricing, market perspective – that you have your eye on for 2021?

Tony: I think we are really going to be keeping an eye on any government stimulus and how that will impact the market and pricing going into Q1. We’ve seen the impact of that over Q3 where prices rose quickly. I’m interested to see if that pattern repeats itself going into next year. 

Jackie: I’m interested to see what the 2021 “tax time” market and pricing trends will look like overall. I’m also keeping an eye on online selling trends to see if buyers will favor this option more next year.