Auto Remarketing is now accepting nominations for the Women in Remarketing Class of 2017.
Don't miss the opportunity to honor the exceptional women of the used-car industry, who drive businesses such as auctions, consignors, dealerships, captive finance companies and more.
The April 1 issue of Auto Remarketing will contain a special section designed to honor those women that will be chosen for its 2017 Women in Remarketing Class.
They will also be honored at the Used Car Week Conferences this fall.
Please note: the deadline for nominations is Friday, March 3. All nominations must be done through the website link above.
We will include a brief profile on each honoree in our April 1 edition.
Special advertising will also be available for this Women in Remarketing issue.
For more information or to purchase space, please contact publisher Bill Zadeits at bzadeits@autoremarketing.com.
In honor of Auto Remarketing's 25th anniversary this year — which we are celebrating with our Dec. 1 issue — 25 reasons, in no particular order, why I’m excited about AR & covering the auto industry:
— There is always a new, innovative company to learn about in the used-car business.
— We get to interact personally with our readers, sources, industry partners, advertising customers and folks we cover.
— Auctions and dealers are small business in its purest form.
— The publishing and journalism world has moved increasingly more digital, and learning how to adapt is actually an exercise in creativity.
— There are infinite interesting stories a reporter can generate from an earnings conference call. Plus the hold music generally is relaxing classical tunes.
— I get to meet people who start companies from the ground up. They have taught me a lot about guts and persistence.
— I have interviewed executives about their operational strategy, learning more about business and decision-making than ever imaginable.
— Publishing editions like Women in Remarketing and 40 Under 40 brings recognition to some of the most impressive, groundbreaking leaders in the business.
— The Best Auto Auctions to Work For edition sheds light on what makes effective workforces.
— The magazine goes from printed pages to “real life” through the Used Car Week conferences.
— A few dozen in-person interviews in three days of the NADA Convention can be accomplished if you’ve got a good knack for planning.
— Attending an auto auction is a cross between a carnival atmosphere and a crash-course in supply-and-demand.
— I might be writing about a car-vending machine one minute, certified pre-owned vehicle sales the next.
— Used Car Week Live and video interviews have been great resources to reach our audience in new ways.
— It’s a team atmosphere at Auto Remarketing.
— Putting the magazine together never fails to teach me something new.
— The certified pre-owned market continues to break records.
— The industry has bounced back like a champ after hitting the ground hard in 2008 through 2010.
— Each part of the auto business — from new-vehicle sales to financing to tech to auctions — is interconnected in some way.
— Competition in the car business is as intense as it is in sports (see more about that in a conversation with Bill Zadeits).
— The used-car business has spread to Silicon Valley.
— Buying a car, used or new, is the second-largest purchase most folks will make. It’s firmly part of the fabric of American life.
— The auto industry is changing rapidly, with innovation and tradition coming together.
— The best days are ahead.
— Our readers? They are the best.
Cox Automotive presented its Community Impact Award to Karlea Marin of J.P. Morgan Chase during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas.
Presented by Manheim senior vice president of inventory services Grace Huang, this award recognizes a remarketing industry leader for his/her outstanding contributions to the community and the innovative ways he/she collaborates with community partners to help further their missions.
“Karlea’s year-round dedication to helping others exemplifies the spirit of the Cox Automotive Community Impact Award,” Huang said. “We congratulate Karlea for embodying the principles of community service and volunteerism that are so important to the Cox Automotive team.”
Marin, a remarketing industry veteran, has spent more than 25 years as an auction specialist and a remarketing manager. In her role, she coordinates and manages all aspects of vehicle remarketing, including reconditioning, inspecting and pricing of certain makes of vehicles.
Manheim highlighted Marin has a passion for volunteerism, dedicating her time to organizations like Greater Central Florida Area’s Basket Brigade, where she helps provides tailor-made Thanksgiving baskets to needy families; and Arnold Palmer’s Hospital for Children, where she provides ease of stay items to children who are receiving chemotherapy treatment.
Through the J.P. Morgan Chase “Chase Gives Back” initiative, Marin gives basic household necessities to families and children who are served by Family Counseling and Shelter Services of Monroe in Michigan, a non-profit organization that provides programs and services to survivors of domestic violence. She also provides holiday gifts to those who may not otherwise receive a gift through the Head Start Tammany Parish in Louisiana.
She also supports the American Cancer Society, St. Jude Children’s Research Hospital, Salvation Army of Orlando, and serves as Committee Lead on the Festival Finance Board at Good Shepherd Catholic Church.
“This recognition is a tremendous honor and a testament to Cox Automotive’s commitment to community involvement,” Marin said.
For her leadership and commitment to making a difference through community service, Marin will receive $10,000 to donate to the charities of her choice. She has chosen to split the donation among the Histio Cure Foundation; Arnold Palmer Hospital for Children; and Family Counseling and Shelter Services of Monroe County.
Cox Automotive brand NextGear Capital presented its fourth annual Auction Partners Awards during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas.
The awards spotlight independently owned auction leaders in the industry and recognize their years of dedicated service to growing and supporting the overall industry and their communities.
NextGear Capital senior vice president of operations Randy Dohse welcomed award winners, their guests and others from throughout the auction industry for an evening reception.
“These auctions serve as examples for others in the industry to follow,” Dohse said. “As partners in their business, NextGear Capital has seen firsthand their commitment not only to superior customer service but their dedication to best practices and community.”
Three auction partners were honored with the Operational Excellence award, which is given to auctions that demonstrate excellent efficiency, top sales retention, overall operational performance and the most effective response to the needs of NextGear Capital.
NextGear Capital also presented a Remarketing Excellence award to the auction that demonstrated the highest percentage of sales recovered based on percentage of valuation of each vehicle and the best sales follow-up (efficient timing on getting proceeds of sales to NextGear Capital).
The 2016 Auction Partner Award winners included:
• Operational Excellence: West Michigan Auto Auction in Wayland, Mich.
• Operational Excellence: San Antonio Auto Auction in San Antonio
• Operational Excellence: Houston’s 1st Choice Auto Auction in Houston
• Remarketing Excellence: Carolina Auto Auction in Williamston, S.C.
Seven auto auctions from across the U.S. received awards during the National Remarketing Conference/National Auto Auction Association Convention from Chase Auto Finance as the consignor announced its 2015-2016 Chase Cup for Auction Excellence winners.
Officials recapped that the 18th annual Chase Cup award recognizes auctions across the country for their exceptional performance in retention, operational efficiency, expense control, accuracy, sales and service delivery. The consignor reviewed the performance of 30 of the nation’s best auctions with which Chase does business. The review examined data measuring how well the auctions handled preparation, sales, invoice processing, transport requests, title processing and other capabilities.
“Each year, the Chase Cup aims to honor high-performing auto auctions across the country that display operational excellence, outstanding customer service, and strong financial performance,” said Sandra Broderick, head of operations for Chase Auto Finance. “These auctions are the best of the best.”
Manheim Phoenix was named the winner of the Best National Auction Performance. Chase highlighted that Manheim Phoenix distinguished itself among other top competitors throughout the evaluation period with a balanced performance showcasing strengths in vehicle reconditioning, number of buyers, condition report accuracy, and monetary results.
Manheim Phoenix was also honored for Best Regional Performance, Western.
ADESA Kansas City was the Douglas F. Wininger Memorial Award for Best National Performance Service Delivery, an award that recognizes outstanding service in measurable areas such as transportation management, sales, invoicing and other operational measures. ADESA Kansas City also earned Best Regional Performance, Central.
Chase also recognized other auctions’ top performance:
• Best National Jaguar Sales: Manheim Atlanta
• Best National Land Rover Sales: Manheim Pennsylvania
• Best National Mazda Sales: Manheim Seattle
• Best National Subaru Sales: Manheim Seattle
• Best Regional Performance, Midwestern: Manheim Minneapolis
• Best Regional Performance, Northeastern: Manheim Pennsylvania
• Best Regional Performance, Southeastern: Manheim Orlando
Unveiled Tuesday at Used Car Week’s CPO Forum were the fourth annual Vincentric Best Certified Pre-Owned Value in America awards.
A recap of the winners:
- Taking top honors in the truck brand category was Chevrolet, recognized for its Silverado lineup.
- Ford earned recognition in the van category for its T-Series vans.
- Lincoln took the luxury SUV/crossover award.
- Lexus earned the luxury car brand award.
- Nissan won for the passenger car brand.
- Toyota was tops in the SUV/crossover category.
The awards also spotlighted individual models. Nissan and Ford had the most winners with each taking home five awards.
“The Vincentric Best CPO Value in America awards offer insight to those trying to understand which certified pre-owned vehicles provide the best value in today’s market,” Vincentric president David Wurster said in a news release. “Low total cost of ownership is fundamental in making smart vehicle purchase decisions.
“These awards have been created to enlighten potential buyers as to which CPO vehicles will provide the best value in the long run.”
Best CPO Value in America awards are based off a statistical analysis that determines which vehicles have lower-than-expected ownership costs (given market segment and price).
More than 15,000 vehicle configurations were analyzed based on eight factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost and repairs.
Costs were determined after incorporating the CPO brand warranty.
This year marked the 50th anniversary of the merger announcement between the American Football League and the National Football League, creating the foundation for today’s NFL.
And, of course, the Super Bowl.
At Used Car Week, we have a little merger of our own.
The National Remarketing Conference and the NAAA Convention are joining forces for one super conference.
While there is not any football scheduled for the event (at least not on the official agenda), NRC/NAAA will have a special guest on Wednesday who knows a thing or two about the game.
That guest, of course, is Terry Bradshaw, who has won four Super Bowls himself.
What you may not know about the NFL Hall of Famer and co-host of “FOX NFL Sunday” is that he has a respectable acting resume.
His IMDb.com profile includes a bevy of guest appearances on TV shows like “Malcom in the Middle,” “Blossom,” “Las Vegas” and “The League.”
He even had a decent role in the movie “Failure to Launch” — I mean, so I hear — and has a movie with Owen Wilson and Ed Helms scheduled to come out this winter.
Through the years, you’ve probably seen him pitch various products in commercials, too.
Point is, the guy can wear many hats. NFL quarterback, TV analyst, actor, pitchman — the dude is versatile.
Though we can’t launch touchdown rockets to Lynn Swann, we’re looking to be pretty versatile at NRC/NAAA, as well.
As the two events convene at the Red Rock Casino, Resort & Spa in Las Vegas this week as part of Used Car Week, we are bringing you the best of what each conference has to offer.
There will be a bit of exercise with NAAA’s annual 5K Fun Run on Wednesday to go alongside the education of NRC’s industry panel discussions and presentations.
Look for inspiration from NAAA keynote addresses by the aforementioned Bradshaw on Wednesday and NASA legend and Apollo 13 commander Jim Lovell on Thursday.
See your peers honored during NAAA’s annual awards and NRC’s National Remarketing Executive Award, Best Auto Auctions to Work For, Women in Remarketing panel and 40 Under 40 presentations, plus other awards that will be given throughout the week.
NRC and NAAA will bring you plenty of chances to socialize, network and unwind during multiple receptions, evening socials, the annual Black Book Reception, NAAA Presidential Gala and NAAA President’s Party.
What you have come to enjoy about the NAAA Convention and what you’ve come to enjoy about the NRC over the years can all be found in one place.
Of course, it may require some multitasking — not only from us at NRC and NAAA, but everyone involved with and attending the event.
That said, we’ve got a former all-pro quarterback on board to show us the ropes.
Auto Remarketing has announced its 2016 National Remarketing Executives of the Year, and earning this year's distinction are Greg Thibault and Todd August of Avis Budget Group.
Thibault, who joined Avis Budget in 1997, is the company’s vice president of fleet disposal, and August (who joined the previous year) is director of wholesale operations.
Auto Remarketing is proud to honor August and Thibault with this award — now in its fourth year and sponsored by ServNet — at the National Remarketing Conference as part of Used Car Week, scheduled for Nov. 14-18 at the Red Rock Casino, Resort and Spa in Las Vegas.
The award will be presented at 4:30 p.m. (PT) on Nov. 16.
Auto Remarketing caught up with Thibault and August in October to learn more about their backgrounds and what they enjoy about the auction business, and to discuss industry trends and more. To read the complete feature on Thibault and August, see the Nov. 15 edition of Auto Remarketing (our Used Car Week issue) and our Auto Remarketing enewsletters during Used Car Week.
A preview of some of the enlightening discussions on tap for this year’s Re3 Conference presented by MBSi Corp. is scheduled for the final edition of Used Car Week Live.
The online video event set for 2 p.m. ET next Thursday will include Cort DeHart, who is both vice president of business development at Agero and corporate strategy manager at MBSi Corp., and Jonna Boyle, director at New Oak Capital.
They’ll be joining SubPrime Auto Finance News and BHPH Report senior editor Nick Zulovich for a conversation about how the Consumer Financial Protection Bureau updated its compliance bulletin on service providers, which can include skip-tracers, repossession agents and other firms that provide assistance during the recovery process.
To recap, according to what the CFPB published through the Federal Register late last month, an amendment was needed to clarify that supervised entities have flexibility, allowing for appropriate risk management of service providers.
Before taking on his current position, DeHart was a co-founder of Digital Recognition Network and presided as chief executive officer for four years.
Boyle served in compliance positions at both SFG Finance and Santander Consumer USA before embarking on her current consulting endeavors. She also is a board member of the National Automotive Finance Association.
You can watch the video live or on-demand by going to Used Car Week’s presence on Facebook at www.facebook.com/usedcarweek.
And it’s not too late to join the other finance company executives and repossession industry service providers and experts who will be mingling during the Re3 Conference on Nov. 16. It’s the midpoint of Used Car Week, which unfolds at the Red Rock Casino, Resort and Spa in Las Vegas.
For more details, go to www.usedcarweek.biz.
Auto Remarketing and SubPrime Auto Finance News have announced the winner of this year’s Re3 Executive of the Year Award, which is being presented by Consolidated Asset Recovery Systems (CARS).
The honoree who will be presented with the accolade at the Re3 Conference during Used Car Week is Jerry Shelby, who is the director of title lending at Advance America.
Since 1997, Advance America has helped millions of Americans with flexible and personalized financial solutions. The company has grown from just a few stores in the Southeast to become one of the nation’s largest consumer lending companies, with more than 2,100 locations in more than 25 states offering a variety of financial services.
Advance America is a wholly owned subsidiary of Grupo Elektra, one of the world’s largest providers of banking services, consumer finance, personal loans and specialty retailing. The company is a founding member of the Community Financial Services Association, which encourages fair and fully disclosed lending practices.
“Jerry’s knowledge and experience in the industry has been essential for Advance America as they are transitioning to a centralized repossession and remarketing department from that of a decentralized model,” said Terry Groves, who is co-founder and senior vice president of CARS.
“Jerry has created a strategic structure for managing over 1,000 centers in 15 states that has increased efficiency and streamlined the entire process for Advance America enabling him and his team to consistently exceed their corporate goals on recovery,” Groves continued.
Shelby joins previous winners of the accolade, including Jeff Haynes of BBVA Compass, Karen Nelson of Crescent Bank and Scott Phillips of Lendmark Financial Services.
“Congratulations to Jerry Shelby and the whole team at Advance America,” said Bill Zadeits, who is publisher of both Auto Remarketing and SubPrime Auto Finance News as well as Used Car Week chair.
“Repossessions and recoveries represent some of the most the challenging tasks of the finance business, and the company navigates these assignments successfully because of Jerry’s expertise and leadership,” Zadeits continued. “It’s proactive executives like Jerry that embody what the Re3 Executive of the Year Award means.”
Shelby will receive his award during the Re3 Conference, which is presented by MBSi Corp. The Re3 Conference comes at the midpoint of Used Car Week, which runs from Nov. 14-18 at the Red Rock Resort and Casino in Las Vegas.
It’s not too late to join the nearly 1,000 executives — dealers, finance company and auction executives and other industry experts — who are registered to gather during Used Car Week for networking, presentations from experts and more. Used Car Week also includes the CPO Forum — America’s Used Car Conference as well as the SubPrime Forum and the National Remarketing Conference/NAAA Convention.
For more details, go to www.usedcarweek.biz.
