This auction news roundup includes details about United Auto Credit's 2022 Auction of the Year Award recipient as well as the recent, robust successes of Auction Academy’s Class Group 7.
To recognize “exceptional performance and dedication of the team,” United Auto Credit gave its 2022 Auction of the Year Award to DAA Las Vegas.
“We are honored to receive this recognition from United Auto Credit,” DAA Las Vegas general manager Joe LeMonds said in a news release.
“Our team is dedicated to providing the highest level of service and support to our customers, and it is gratifying to see that hard work and dedication recognized in this way. We look forward to continuing our partnership with United Auto Credit, building on our success in the years to come,” added LeMonds, who runs the operation that’s part of the McConkey Auction Group.
“DAA Las Vegas has consistently exceeded our expectations and has been a valuable partner in our remarketing efforts,” United Auto Credit director of asset remarketing Scott Mousaw said in the news release.
“Their commitment to excellence and customer service is evident in the results they have achieved, and we are thrilled to recognize them with this award,” Mousaw said.
Auction Academy students receive industry promotions
Auction Academy is like other institutions of higher education, cheering how students graduates are progressing up the ranks of their professional careers.
Auction Academy president Penny Wanna recently highlighted Class Group 7 is making its mark on the remarketing industry, as four of its members have recently been promoted to significant management positions. That quartet includes:
—Houston Gordon as assistant general manager at Greensboro Auto Auction
—Danny McNelis as director auction relationships at NextGear Capital
—Stacy Brown as vice president of digital sales at Dealers Auto Auction Group
—Chris Karwoski as assistant vice president of reconditioning operations at Manheim/Cox Automotive
“It is exciting to see Auction Academy students and graduates progress in their careers as they pursue intensive industry training with Auction Academy,” said Wanna, who oversees the continuing education program developed by TPC Management Co. (TPC). “We congratulate these four members of Class Group 7 on their promotions and know they’ll contribute a high level of skill and professionalism to their respective companies.”
Wanna mentioned that these promotions follow three others that were announced earlier in the Class Group 7 term, including:
—Becky Anderson as president CARS Recon
—Whitney Gerkin as associate vice president of operational excellence at Manheim/Cox Automotive
—Andrew Schaefer as general manager at Indiana Auto Auction.
Class Group 7 has posted more advancements while in session than any previous group, according to Auction Academy.
“From the beginning we have been impressed with the skill and devotion exhibited by the those who have pursued industry training through Auction Academy,” Auction Academy co-founder and CEO Pierre Pons said.
“It’s a great pleasure for all of us involved to work with them, to watch their progress at the companies they work for, and to observe the impact they are making on the remarketing industry,” Pons went on to say.
Auction Academy is for professionals in the auto auction industry. Its two-year program provides a training and development experience for auto auction professionals, structured like an executive MBA program.
With faculty drawn from expert practitioners around the country, Auction Academy’s programs are designed to enhance essential skill sets, promote best practices and yield better auction performance. The curriculum includes site visits, field trips, technical certifications and work with industry experts in all areas of auto auction operations.
For additional information about Auction Academy, contact Wanna by telephone at (615) 591-4544 or by email at pwanna@auctionacademy.net. Or visit the website at www.auctionacademy.net.
This week, the remarketing division at Westlake Financial announced its 2022 Auction of the Year Awards, recognizing a nationwide honoree as well as five regional accolade recipients.
In recognition of the “incredible” performances this past year, Westlake gave its 2022 Nationwide Auction of the Year Award to Rawls Auto Auction.
“Rawls Auto Auction is proud to be named Westlake Financial’s Sale of the Year for 2022,” Rawls Auto Auction general manager and owner Julianne Rawls said in a news release from Westlake. “Rawls has been privileged to be in partnership with Westlake for over a decade and has won multiple awards from them during this time.
“Our team’s work ethic, dedication, and commitment to excellence and customer service are unmatched. We look forward to many more years of success with Westlake Financial,” Rawls continued.
And Westlake’s 2022 top regional auction performers included:
Midwest Region: ADESA Lexington
South Central Region: 166 Auto Auction
Northeast Region: Southern Auto Auction
Southwest Region: Dealers Auto Auction Southwest
Pacific Region: ADESA Golden Gate
“Congratulations to Rawls Auto Auction and our five top Regional Auction performers,” Westlake Financial vice president of remarketing William Walters said. “We at Westlake Financial are pleased to recognize the incredible value created by our auction partners and the outstanding efforts made by the Rawls Auto Auction team in 2022.”
These awards recognize the top-performing auctions based on various sale and service metrics throughout 2022.
“Westlake is proud to be working with some of the leading auto auctions in the nation. I am happy to see our fantastic partners’ continued success and growth this year and look forward to seeing what we can achieve together in 2023,” Westlake Financial chief financial officer Paul Kerwin said.
Westlake Financial remarketing partners with auctions nationwide to sell thousands of used vehicles to auto dealers.
To learn more about Westlake Remarketing, visit: https://www.westlakefinancial.com/additional-services/Remarketing/.
America’s Group and two of its auctions have taken home a few awards this year in the annual auction awards program at C&F Finance Company and C&F Remarketing.
The overall group was named C&F Finance Company’s National Auction of the Year, while America’s Auto Auction Virginia Beach earned C&F Remarketing’s Auction of the Year honors and America’s Auto Auction Savannah earned recognition as C&F Remarketing’s Southeast Auction of the Year.
“Congratulations to America’s Auto Auction for receiving C&F Finance Company’s National Auction of the Year award. They have been our top auction group for the last four years,” said Mike Wilson, who is executive vice president and chief operating officer at C&F Finance Company and C&F Remarketing.
“In addition, America’s Auto Auction Virginia Beach was C&F Remarketing’s Auction of the Year,” Wilson added. “ America’s Auto Auction Savannah received the Southeast Auction of the Year award from C&F Remarketing for the threepeat! We are thankful for the great partnership and friendship that we have with our America’s Auto Auction partners across the country and look forward to another award-winning year in 2023.”
Jennifer Leocardi, the auction group’s vice president of institutional sales, added, “Our Virginia Beach and Savannah teams are truly honored to receive the Auction of the Year and Southeast Auction of the Year awards from C&F Remarketing. Our auction teams take pride in providing our clients with exceptional customer service and helping them achieve their remarketing goals.
“Our group is ecstatic to be named National Auction of the Year,” she added. “We value the partnership we have C&F Finance Company and appreciate the recognition.”
Along with highlighting the successes of a classic car auction that raised money for the school, Northwood University announced on Tuesday that it will honor five automobile dealers from across the United States with its annual Dealer Education Award at the National Automotive Dealers Association convention in Dallas later this month.
This year’s honorees include:
• Jamar Brinkley, dealer principal, Renaissance Cars, Roanoke Rapids, N.C.
• Rik Fregia, vice president, Courtesy Automotive Group, Danville, Ill.
• Chris Saraceno, vice president and partner, Kelly Automotive Group, Melbourne, Fla.
• Brandon Tomes, owner/general manager, Tomes Auto Group, McKinney, Texas
• Kevin Vanatta, owner, Newberry Motors, Inc., Newberry, Mich.
Since 1972, Northwood has recognized owners and dealer principals in the automotive marketing field who have made noteworthy, individual contributions to public or private education inside or outside of the industry.
“This marks our 51st year of recognizing outstanding dealers and community leaders who have made significant contributions to the industry and to efforts to create the next generation of automotive leaders,” Northwood president Kent MacDonald said in a news releae. “We are especially proud of this year’s honorees, and look forward to celebrating them later this month.”
The awards will be presented at a special breakfast on Jan. 28 at the Hyatt Regency in Dallas. Attendees will include students, alumni and automotive guests of Northwood University.
The school also shared more biographical information about each of the honorees.
Jamar Brinkley
Brinkley is the founder and managing partner of Renaissance Equity Group and president of The Renaissance Companies. Incorporating all he has learned over an extensive career with two major automotive groups, he formed Renaissance Cars in 2016 with a strong desire to be substantive in the automotive industry. He began his career with one of the nation’s leading automotive retailers. He excelled early on due to his leadership, salesmanship, and focus on customer satisfaction.
A mentor helped him gain experience and confidence as a general manager, and the dealerships flourished under his leadership. Brinkley believes mentorship is critical because a mentor can be a sounding board for sharing ideas and someone with whom you can communicate and seek advice.
With Brinkley’s success, he was able to purchase his own dealership after operating Renaissance Cars for several years. Putting his trust in a higher power, Brinkley purchased an existing store and rebranded it as Renaissance Nissan. As a testament to his abilities, he was recently recognized as one of Automotive News’ 40 Under 40.
Rik Fregia
Fregia is the vice president of the Courtesy Automotive Group in Danville, Illinois. Fregia started his automotive career working for a Ford dealership owned by his father. When Ray Fregia Sr. retired and sold his store, Rik Fregia teamed up with his brother, Ray, who had recently bought his first dealership.
Supporting local organizations, Fregia has served as a board member for the Crystal Lake Chamber of Commerce and Deer Crossing. He also serves as chair of the New Hope Baptist Church Scholarship Committee, which supports seniors from the local high school pursuing a college degree.
Fregia’s commitment to his community has earned him recognition with the Pride in Crystal Lake Award, McHenry County Best Under 40 Businessman Outstanding Achiever Award, Automotive News’ 40 Under 40, and the Presidential Award of Excellence.
Chris Saraceno
Saraceno is a business executive, real estate investor, speaker and leader. He is the founder of the online community DealerElite.com and co-founder of the training company Team Builders Inc. He is a former advisory board member for Autotrader, DealerRater, Hire the Winners, and Cemboo Film Distribution.
Saraceno began his automotive career in 1984 and joined The Kelly Automotive Group in 1989. In 2009, he became a partner with the organization.
Saraceno has been a featured speaker at numerous conventions and has published hundreds of articles both online and in business magazines. One of his pieces is The Theory of 5, created to help individuals of all walks of life identify the five theories that propel them into happiness and prosperity. The Theory of 5 is based on selecting mentors in the five most significant areas of a person’s life: spirituality, marriage, parenting, business and finance, and health. So powerful is this theory that Elgie Bright, chair of Northwood University’s Automotive Marketing/Management Program, incorporates it into his teaching curriculum.
Brandon Tomes
Tomes is president and director of Brandon Tomes Subaru, and vice president of Bob Tomes Ford and Brandon Tomes Volkswagen of McKinney, Texas.
After graduating from Southern Methodist University’s Cox School of Business, he joined his family business full-time in September 2007. But his learning didn’t stop there, as he is a graduate of NADA’s Dealer Candidate Academy and the NCM Associates’ General Management Executive Program.
He has received numerous professional accolades over the years. Most recently, he was a finalist for Subaru Retailer of the year in 2020. His team has achieved 10 consecutive “Love Promise Customer Commitment Awards,” Subaru’s highest retailer award, and they also earned Ford’s highest award, the President’s Award, in 2020.
His family’s philanthropic contributions have been substantial, and he has a proven record of being committed to giving back to the community through the McKinney Rotary Club’s Academic Excellence Program and the Texas Chamber Music Ensemble program. Additionally, many McKinney students are motivated by the various incentives that Tomes provides to the local schools for students with excellent marks.
Kevin Vanatta
Vanatta is the owner/general manager of Newberry Motors. As one of six boys whose father passed away when he was 13 years old, Vanatta’s childhood and teen years were influenced by his grandfather, who owned and operated an auto service garage and fueling station. Shaped by those experiences, Vanatta’s natural inclination was to establish a career in the automotive retail industry.
In 1992, he had the opportunity to buy out his employer, the dealer principal of General Motors and Daimler Chrysler dealerships in Newberry, Mich. Since then, he has built a life there, raising his family, growing his business, and serving his community.
Vanatta’s commitment to the Newberry community includes serving as president of the Newberry Area Chamber of Commerce, Ambassadors Club, and Kiwanis Club. He is also a St. Gregory’s Catholic Church member, serving on the Parish Finance Council. Additionally, he serves as a member of the Tahquamenon Education Foundation. This organization provides financial support for college expenses to graduating high school seniors who have maintained a grade point average of 3.5 or higher throughout their high school careers.
Auction of classic cars raises $2.37M for Northwood
A classic automobile collection donated by a generous couple to Northwood University fetched more than $2.3 million during an auction on Friday in Florida.
Michael and Dianne Morey of Mount Pleasant, Mich., pledged 35 vehicles from their automotive collection, and the cars were auctioned off at Mecum Auctions in Kissimmee, Fla. The auction raised more than $2,371,000 to support Northwood University and The Northwood Idea.
“Mike and Dianne’s incredible gift will be forever remembered by Northwood University,” MacDonald said. “We have retained a 1958 Chevrolet Corvette to display on campus as a reminder of the Morey’s generosity and American innovation.”
In 1983, the Moreys believed they could build a wood chipper better than anyone else. Mike left his job, invested in a small workshop, and with six employees and a small operating budget, built the Model 100 Brush Bandit, a 12-inch capacity disc-style chipper. Based on the success of the Brush Bandit, Bandit Industries was created, and Dianne actively joined the company.
Bandit designed and launched the world’s first self-propelled track whole tree chipper in 1990 and continues to be a leader in this industry segment. Bandit operates a network of more than 180 dealer locations worldwide, and it currently has 725 employees.
In 2018, the Moreys sold the company to their trusted employees, rather than accepting two offers to sell from private firms.
“The Moreys are stellar examples of how ingenuity, persistence and dedication pave the way for success in a free-market society,” said Justin Marshall, chief development and engagement officer for Northwood University. “Each car the Morey family donated was part of their family story, and the story now evolves with Northwood University inspiring the dreams of young entrepreneurs from throughout the world.”
At the end of Friday’s auction, Mecum Auctions announced that two of the Morey vehicles were the top two automotive sales of the day.
The 1967 Shelby GT500 Fastback sold for $330,000, and the 1970 Plymouth Hemi Cuda sold for $275,000. The surprise of the day was a 1981 Teledyne Continental Cheetah, selling for $65,000 (which was well beyond its appraised value).
Northwood University said it will utilize up to $1 million of the cash proceeds to enhance the campus experience. The remaining proceeds will be used to build the university’s endowment to create new scholarship opportunities for Northwood students.
The Moreys previously noted they are pleased their classic car collection will help support young men and women who want to work hard, build something of their own, and positively influence the communities they call home.
“Northwood University is a special place, filled with wonderful students, and we are thrilled to support their mission,” they sad.
If you’re interested in supporting the school, visit https://www.northwood.edu/advancement/give.
In this special episode of the Auto Remarketing Podcast, we feature the Women in Remarketing panel discussion from Used Car Week in November in San Diego.
The honorees discuss how they’ve been successful and offer wisdom for younger industry professionals in a conference segment moderated by Kathy Ruble, Ally’s executive director for auto marketing and dealer communications.
Stay tuned for more podcasts from UCW panel discussions as they become available.
To listen to the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.
Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.
Cherokee Media Group recognized its 2022 Used Car Awards winners, an overall program sponsored by KAR Global, at Used Car Week in November.
The conference was held Nov. 14-17 at the Manchester Grand Hyatt in San Diego. Spotlighted during the Used Car Awards Luncheon, also sponsored by KAR, were the following:
CPO Dealer of the Year: Andy Mohr Ford
Accepting Award: Dennis Pennington (Used-Car Director)
Award sponsored by KAR Global
Independent Dealer of the Year: Auto Savvy
Accepting Award: Brett Parham (CEO) & Cory Goodfellow (CFO)
Award sponsored by AFC
Franchise Dealer of the Year: Performance Automotive
Accepting Award: Nathan Myers (Used-Car Director)
Award sponsored by BacklotCars
Sharing more about the CPO Dealer of the Year honoree, the dealership has been Ford’s No. 1 seller of certified pre-owned vehicles for two consecutive years and is on pace to make it three straight.
Andy Mohr Ford joins the likes of previous winners Paragon Honda/Paragon Acura, Galpin Ford, Cavender Toyota and many others.
It was also the 2021 Franchise Dealer of the Year in the 2021 Used Car Awards, and was presented that award at Used Car Week at Red Rock in Las Vegas in November 2021. Meanwhile, America’s Car-Mart was the 2021 Independent Dealer of the Year.
Chase Auto announced the 2022 winners of the Chase Cup for Auction Excellence on Thursday, spotlighting its auction partners with top performances in handling handled preparation, sales, invoice processing, transport requests, title processing and other tasks.
The award for Best National Auction Performance went to Columbus Fair Auto Auction, while Manheim Fredericksburg earned honors in the Best National Performance Service Delivery category.
Others recognized were:
• Best National Jaguar Sales – Manheim Dallas
• Best National Land Rover Sales – Manheim Riverside
• Best National Mazda Sales – Manheim Milwaukee
• Best National Subaru Sales – Manheim New England
• Best National Maserati Sales – Manheim Atlanta
• Best National Performance, Other Makes – ADESA Kansas City
• Best Regional Performance, Midwest – Columbus Fair Auto Auction
• Best Regional Performance, Western – Manheim Seattle
• Best Regional Performance, Central – ADESA Kansas City
• Best Regional Performance, Northeast – Manheim New Jersey
• Best Regional Performance, Southeast – ADESA Charlotte
“These auctions are operationally excellent, with outstanding customer service and strong financial performance,” Chase Auto head of remarketing John Urness said in a news release. “They really are best in class, and our team is pleased to recognize each of them with a Chase Cup award.”
Darrin Aiken, a recent college graduate at the time, had been working for Kmart at local stores in his area of Illinois for about a year in the 1980s, and decided to make a go at selling cars — a potential career he had been eyeing for some time.
So, like any young entrepreneurially minded and passionate individual, Aiken donned a suit, walked into an Oldsmobile dealership with resume in hand and told the store’s general manager he was interested in moving metal.
“He looked at me and said, ‘Why do you want to do that? You’ve got a college degree,’” Aiken said. “And I said, ‘I’ve wanted to sell cars my entire life.’”
Some three-plus decades later, that’s exactly what Aiken has been doing, moving from that Oldsmobile store to the fleet and remarketing business and finding a home at Wheels Donlen, where’s he has headed up remarketing since 2000.
His official title is Assist Vice President of Remarketing, but Aiken adds a new one this year: Auto Remarketing’s 2022 National Remarketing Executive of the Year.
As part of this awards program, which is presented by the Independent Auction Group, Aiken will be recognized on Nov. 16, during the National Remarketing Conference portion of Used Car Week.
In an industry that sees constant shifts, Aiken’s story is somewhat unique.
After selling fleet vehicles and helping to start Union Leasing, Aiken saw a newspaper ad for a regional sales manager position at Wheels. He interviewed for the job and eventually was hired as a regional sales manager on the West Coast, remarketing vehicles for the company.
It was June 1989 when Aiken started there. He has been there ever since, continuing to serve in the remarketing position.
Aiken was promoted to assistant vice president for remarketing in 2000 and has headed up all remarketing functions for the company the last 22 years. And with the merger between the two companies, Aiken now leads remarketing for both Wheels and Donlen.
“It’s been a heckuva ride, but it's crazy when I think about how fast it went,” Aiken said of his 33 years (and counting) at Wheels Donlen.
He expressed deep appreciation for the opportunity that the Frank family, who previously owned Wheels, gave him to start and continue to advance his career in remarketing. Aiken also is excited about the opportunities ahead with the combined Donlen and Wheels companies.
“It's the people, too,” Aiken said of what he enjoys most about the industry. “Think about the remarketing people. You’ve been to all these conventions. Some of these people I’ve known for over 30 years. Building the network and all the people that have helped me move up in the world. It’s not just me; it's all the people that have reported to me and all the people that are working for me now that keep accelerating and keep pushing as hard as we can.
“It’s been really fun, to be honest with you,” he said. “I love going to the conventions. I'm excited and honored about this award.”
Like any area of remarketing or automotive, in general, the fleet space of wholesale is not without challenges.
One, Aiken said, is preparing for what could be a higher population of electric vehicles.
He explained that this may pose a challenge, as many of the EVs that are being built are designed for retail, not necessarily for fleets.
“And we have an opportunity by working with some of them to make sure that it happens correctly for our customers, because (fleet) customers are really getting pushed into that from their senior leadership, telling them that they need to be compliant and they need to offer up electric vehicles,” Aiken said.
He also noted the challenge of personally identifiable information, which is of utmost important for fleets and other consignors who must remarket vehicles after multiple users.
Another has to do with the merging worlds of wholesale and retail automotive, particularly when it comes to price.
“I think the difference between wholesale pricing and retail pricing is starting to merge. And that’s because of the technology … and I think customers are going to start to expect opportunity to sell in the retail world,” Aiken said. “Now, we haven't been able to do that in the past, really, except maybe selling to drivers and employees.
“But that merger of that retail pricing versus wholesale pricing is starting to (happen),” he said. “And that is going to be a huge challenge, especially for dealerships with the franchise dealer laws that are across the country. I think that one’s going to be a huge challenge down the road.”
Companies with vehicle fleets, he explained, are starting to outsource their fleet departments. And those customers may see that a retail price on one of their vehicles is higher than what it would fetch in wholesale. But it’s not necessarily a simple switch of selling channel, as there is a lot more complexity to the market than that.
Various wholesale platforms have emerged and it's unclear who might end up being the frontrunner, he said, “but I do believe, and I think the industry believes, we’re going to see more change in the next couple years in the remarketing world than we’ve ever seen in the last hundred.”
When he’s not working to address the dynamics of fleet remarketing, Aiken and his wife enjoy time with his family (including five grandchildren).
Aiken, who is a fan of trucks, and his wife have two pickups, a Jeep Wrangler, and a Honda CR-V.
He’s also a fan of the two-wheel variety of transportation.
Aiken has been riding motorcycles with the same group of folks, including friends and industry partners, for 30 years.
He has ridden a motorcycle back from Alaska, and has visited almost every state in the West via his steel horse. The lifelong Illinois resident is also a boating enthusiast since the age of 16.
A heck of a ride, indeed.
Dennis Pennington, used-car director at Andy Mohr Ford, has been in the auto industry for 30 years, the last nine of which he has spent at the Plainfield, Ind., dealership.
He recalls a conversation several years ago with the late Rick Case, the founder of the eponymous dealer group with locations throughout Florida and Georgia.
“He kind of opened me up to the national thinking. Not just local thinking, not just being No. 1 in the region or No. 1 in the state, but being No. 1 in the nation,” Pennington told Auto Remarketing. “And our mindset is that national-level of customer service or that national level of sales. So, it's just kind of thinking big."
Thinking big and thinking national has paid off for Andy Mohr Ford.
The dealership has been Ford’s No. 1 seller of certified pre-owned vehicles for two consecutive years and is on pace to make it three straight.
With these accolades, Andy Mohr Ford is being recognized as Auto Remarketing’s 2022 CPO Dealer of the Year, an award sponsored by KAR Global.
The dealership joins the likes of previous winners Paragon Honda/Paragon Acura, Galpin Ford, Cavender Toyota and many others.
Andy Mohr Ford will be recognized during the Used Car Awards Luncheon on Nov. 15 at Used Car Week, which is being held at the Manchester Grand Hyatt in San Diego. The luncheon is also sponsored by KAR.
Pennington will also be a panelist on “The Best CPO Dealers in the USA: Selling More Used Cars” panel discussion on Nov. 14 at Used Car Week, along with Andrew Ashman of Ford, Mark Gilbert of Automotive Training Network, Danny Papakalos of #1 Cochran and Mark Weida of Street Smart Auto Brokers.
“When I started at the dealership nine years ago, the general manager, Chris Huston, told me that he wanted to focus on the certified pre-owned program. So, our main focus has been that program,” Pennington said. “And then when they revamped it a couple years ago and they encompassed all the other brands, just putting the focus towards that, and making sure the salespeople were trained on it, using that to build the value, (we) use it as our selling tool.”
The expansion Pennington refers to is the Ford Blue Advantage program, which launched in 2021. It includes an expanded level of inventory from what would typically be included in the traditional Ford certified pre-owned program.
Ford dealers can now use two different levels of certification for used vehicles: Gold Certified and Blue Certified.
Gold Certified, which is essentially the standard of the traditional Ford CPO program, includes a 172-point inspection and includes a 12-month/12,000-mile comprehensive limited warranty (whichever comes first) and a seven-year/100,000-mile (whichever comes first) powertrain limited warranty.
These vehicles must be 6 years old or newer and have fewer than 80,000 miles on the odometer.
Meanwhile, the Blue Certified tier expands that eligibility. Those vehicles must be 10 years old or newer and have 120,000 or fewer miles. They undergo a 139-point inspection and include a 90-day/4,000-mile (whichever comes first) comprehensive limited warranty. Additionally, non-Ford vehicles can be certified under the Blue segment.
Pennington said that in a crowded market, “you've got to use whatever little edge you can get to set yourself apart,” and Ford Blue Advantage helps to do that by providing additional peace-of-mind and warranty that other stores may not be able to on older vehicles.
Being able to certify vehicles up to 10 years in age also helps in sourcing CPO inventory, given constrained off-lease volumes amid already tight used-car supply.
It “broadens” the age range of vehicles Andy Mohr Ford looks to acquire, Pennington said.
“When we're looking to trade for some of those vehicles, where these other guys, they may be a little more cautious, we’re able to go a little heavier in some of those cars, because we know that we're going to be able to turn around and sell them,” he said. “A lot of people don’t sell some of that older stuff and they can't back the older stuff, that's why they don't want to sell it. So, for us, it just helps us out.”
To find these vehicles, Pennington said the dealership turns to mining the service department for vehicles as well as searching for customer cars that might be up for sale via private party.
For more best practices in CPO, be sure to catch Pennington’s insights on the ‘Best CPO Dealers’ panel at UCW. More information is available at www.usedcarweek.biz.
The full list of Auto Remarketing’s CPO Dealer of the Year honorees over the years can be found below.
2022: Andy Mohr Ford
2021: Roger Beasley Mazda South
2020: Mullinax Ford
2019: Cavender Toyota
2018: Trophy Nissan
2017: Kia of Irvine
2016: Fletcher Jones Motorcars
2015: Bill Luke Chrysler Jeep Dodge & Ram
2014: Hyundai of New Port Richey
2013: Galpin Ford
2012: Longo Toyota
2011: Karl Chevrolet
2010: Paragon Honda/Paragon Acura
Along with the seventh annual Diversity Volume Leadership Awards (DVL), last week’s annual NAMAD Conference in Miami also included Cox Automotive, in partnership with the National Association of Minority Automobile Dealers (NAMAD), awarding two Rising Star Awards.
The 2022 award recipients were Jarryd Carver, chief executive officer of Winners Circle Automotive Group, headquartered in Hampton, Va., and Michael Lee, dealer principal of Freedom Kia of Morgantown in West Virginia.
Recipients were chosen based on nomination criteria, including being under the age of 45 and a NAMAD member, operating within the automotive industry and demonstrating a strong commitment to their local community and/or minority populations along with contributing to the automotive industry.
Cox Automotive marketing director Sherrie Tanner joined NAMAD president Damon Lester to honor the recipients during an awards dinner at the 42nd annual membership meeting.
Tanner said: “On behalf of Cox Automotive and in partnership with NAMAD, I am honored to recognize Jarryd Carver and Michael Lee as the 2022 Rising Stars. Jarryd and Michael truly exemplify the words ‘rising star’ as well as the core values of Cox and the Cox family — building a better community and a better world.”
Cox Automotive is donating $5,000 to The Sharon Carver Foundation, which was created in 2016 and named after Jarryd Carver’s late aunt, Sharon, who was a victim of the Sept. 11 terrorist attacks.
The foundation honors Sharon Carver’s commitment to mentorship by creating opportunities for underserved communities to afford education and through scholarships for students in need at Hampton University, one of the top historically Black universities in the world, located in Hampton.
On behalf of Lee, Cox Automotive is donating $5,000 to Chestnut Mountain Ranch, a faith-based retreat for boys who are experiencing challenges in life located in Morgantown.
The children live on the ranch’s 225-acre grounds and focus on healing and family reunification. In addition to donations, Chestnut Mountain Ranch is funded by The Ranch Quick Lube, a Valvoline Express Care owned by Chestnut Mountain Ranch, as well as The Ranch Community Store, a high-end thrift store that provides gently used merchandise to the community.
Diversity Volume Leadership Awards
The Seventh Annual Diversity Volume Leadership Awards (DVL) were presented by NAMAD and S&P Global Mobility (formerly IHS Markit). The awards program celebrates brands that are driving sales leadership with ethnic consumers.
Officials said that U.S. Census statistics predict that by the year 2045, ethnic minorities will be the “future majority.”
This year, NAMAD and S&P Global Mobility honored Toyota Motor North America’s RAV4 with the Top Overall Future Majority Award.
“The ‘Future Majority’ reality was echoed throughout this year’s awards ceremony and showcased the tremendous impact ethnic car buyers have on the economy, and brought awareness to the lack of diversity that still remains in the automotive industry,” NAMAD president Damon Lester said.
During the awards program and conference, NAMAD and S&P Global Mobility partnered to celebrate brands that are driving sales leadership with ethnic consumers, while also addressing and educating the industry about the necessity of a dealer body that reflects the United States’ increasingly diverse population.
Winners of the prestigious DVL Awards demonstrated the highest new vehicle registrations with ethnic consumers. This year’s awards were based on an analysis of data from S&P Global Mobility representing the 2022 model year.
“The initial goal of the DVL Awards was to create awareness within the U.S. auto industry of the top vehicles purchased by ethnic consumers,” said Marc Bland, chief diversity officer of S&P Global Mobility.
“But now the game has changed, and the ‘Future Majority’ designation is real. We’re honored to recognize these top models and their respective manufacturers in support of their efforts to reach increasingly diverse consumer groups,” Bland continued.
This year, NAMAD and S&P Global Mobility honored Toyota Motor North America’s RAV4 with the “Top Overall Future Majority Vehicle” DVL Award, one of 11 awards presented to Toyota and Lexus during the program.
Top Overall Ethnic Vehicle is the most sought-after DVL Awards honor for automotive brands dedicated to driving sales leadership with Asian, Native American, Hispanic and African-American car buyers.
Following is the complete list of this year’s DVL Award-winning manufacturers:
NON-LUXURY AWARDEES
Sub-Compact: Nissan Versa
Traditional Compact: Toyota Corolla
Mid-Size: Toyota Camry
Traditional Full-Size: Dodge Charger
Sub-Compact Utility and Utility Plus: Honda HR-V
Compact CUV and SUV: Toyota RAV4
Lower to Upper Mid-Size CUV and SUV: Toyota Highlander
Sport and Mid-Size Sport: Dodge Challenger
Mid-Size Van: Toyota Sienna
Compact to One-Ton Van: Mercedes-Benz Sprinter
Compact to Mid-Size Pickup: Toyota Tacoma
Three-Quarter to One-Ton Pickup Truck: RAM 2500/3500
Half-Ton Pickup Truck: Chevrolet Silverado
Full-Size SUV: Chevrolet Tahoe
LUXURY AWARDEES
Luxury Sub-Compact: Lexus UX
Luxury Compact: BMW 330
Luxury Mid-Size: Lexus ES
Luxury Full-Size: Mercedes-Benz S-Class
Luxury Exotic, Prestige Full-Size and Sport: Chevrolet Corvette
Luxury Sub-Compact CUV: Audi Q3
Luxury Compact CUV: BMW X3
Luxury Mid-Size CUV: Lexus RX
Luxury Mid-Size SUV: Mercedes-Benz GLE
Luxury Full-Size SUV: BMW X7
Top Overall Future Majority Luxury Vehicle: Lexus RX
Top Overall Future Majority Vehicle: Toyota RAV4
