Auto Remarketing is recognizing the 2021 Women in Remarketing honorees in the March issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website.
Next up is Stephanie Jacoob, who is associate vice president of reconditioning at Cox Automotive.
Auto Remarketing: What do you enjoy most about working in the remarketing industry? But, also, what aspect(s) of the business would you change — and how?
Stephanie Jacoob: Working in vehicle remarketing is dynamic and exciting. The fast pace, high volume and technological advancements are a true adrenaline rush. However, the aspect I enjoy most about working in remarketing is the why behind what my teams and I set out to accomplish every day. Why do we do what we do? We do it because we know that we are helping people get to the places they want and need to be.
In my role, we recondition the high-quality cost-effective used automobiles that get them there. Whether it’s getting kids to school on time, a grandmother to a doctor’s appointment, or just a destressing drive along Pacific Coast Highway, we are privileged to be an integral part of folks’ transportation options and solutions.
In an industry that has continuously and deliberately experienced and created positive change and growth, it is hard to identify an unaddressed need for change. One of the changes that I’m most excited about — and most proud of — is the great strides the automotive industry as a whole has taken in addressing our environmental responsibilities. Large and small changes, ranging from clean energy vehicles to chemical and water-free detailing. Our innovations are necessary, as is our continued and increasing energies and efforts, to protect and sustain our environment.
AR: What are some improvements that need to be made in the industry from a diversity and inclusion perspective? What are some examples you’ve seen of D&I programs that have worked?
SJ: I see diversity and inclusion being important on more than just an industry level. Fully recognizing, appreciating and mobilizing diversity as an organizational strength benefits any industry. Specifically to the remarketing industry, as we look to provide both short-term and long-term solutions for used-car sales, ownership and use, it is important that our teams represent and understand the vehicular needs, problems and solutions of the communities and clients we serve. It’s just as important to understand the experiences of the people, our team members, who provide those solutions.
As a Cox Automotive Inc. team member, it is with great pride that I share with you a piece of our value statement regarding diversity. “Bringing people together from different disciplines, cultures and generations with different experiences enables us to perform better … We value every voice, respect differences and embrace transparency.” The living embodiment of this statement is in the development of employee resource groups, open-forum diversity discussions, and leadership dedication to keeping diversity a core value.
AR: Describe a time when you were either a mentor or a mentee, and how that has shaped your career.
SJ: Throughout my life and career, I’ve been blessed with many great mentors. Family members, leaders, close friends, peers, and team members. Each one has contributed to my development, knowledge, and success. Each one taught me something that I needed to learn at that time — in that moment.
Each lesson building upon the last and readying me for the next, helped me view problems as new and exciting challenges. This has been instrumental in helping me succeed in the fast-changing remarketing industry. It also taught me that most have something to share and to teach if you’re willing to listen and learn. As a mentor, my goal is to honor that blessing by supporting, challenging, and teaching those around me in a collaborative learning space.
Two teachings foundational to my mentoring approach are Simon Sinek’s “Start with Why” and the science-based documentary “Happy.” I genuinely believe that people deserve the opportunity to perform work that they love; work that makes them happy.
This largely drives my mentoring style in first, helping folks to understand and communicate their definition of happiness and second, to form a plan that helps them to create and achieve that definition of happiness in their work. A common piece of feedback that I receive is how profoundly thought provoking the documentary is and how empowering the act of improving workflows and tasks to create happiness feels.
AR: Describe a time in your career where you were challenged and how you overcame that challenge.
SJ: “Unprecedented” has been a word largely attached to the year 2020 and the global COVID-19 crisis. Certainly, the challenges were unlike anything I’ve previously experienced in my career. My No. 1 priority was (and remains) keeping my teams and my clients safe while still executing the services we are relied upon to provide.
The most important success factor I had in meeting this challenge was the shared commitment and unwavering dedication to safety demonstrated by Cox Automotive leadership and the Cox Family.
In the reconditioning world, we’re quite accustomed to the use of personal protective equipment. But the coronavirus represented risks we’d never encountered before. When the very nature of our collaborative interactions regarding production training, quality reviews and shared workspaces proved to be conduits for viral transmissions, we had to get creative in our safety-minded solutions. Our leaders made it clear that nothing was more important than our safety and the safety of the families we go home to each night. It was through this lens we were able to design process and operational changes. This alignment throughout our organization and supply chain partners resulted in some very effective solutions.
Strategic scheduling, digital department bulletin boards, mobile mech techs, and sanitizing stations are just a few that have helped us perform our work at a safe physical distance.
AR: What is the top trend/storyline in the remarketing industry that you’re watching this year?
SJ: There are so many new developing technologies, products and services in the remarketing industry. I’m genuinely curious about all of them, but one that sticks out in my mind as potentially culture-shaping in the ownership and use of used vehicles is the emerging subscription-based retail platforms.
I appreciate the ease of entry onto the platform, the menu of services, and driving options membership provides. I’m excited to see how this platform will offer new options to retail drivers. As a remarketer, our focus is on examining how we best support this platform from a fleet perspective: inventory acquisitions, preventative maintenance services, repair services, and end-of-product life cycle services.
AR: What is something you would tell your younger self if you could go back to when you started your career in remarketing?
SJ: I have been working in the remarketing industry since my late 20s. I entered the industry first as a finance leader, then moved into operations and continuous improvement and now I serve as a reconditioning leader.
I have had this amazing career filled with people who have enriched my work experience, have helped make me a better team member, a better leader, and in many regards a better person. To each one of them I owe a great deal of appreciation. These relationships are what I hold closest to me now and what I will take with me on that eventual day of retirement.
As I look back at my career (and believe me, the older I get the more 20/20 my retrospect becomes!), I think I could have appreciated this fact a little more.
As many young people do, I naively believed my colleagues, my clients and friends would always be around. That my ambition in the relentless pursuit of results was the most important way for me to spend my time and provide value to my clients, company, and team. Whatever the reasons then, time has a way of reconciling those misconceptions.
Yes, it’s good to work hard, and it’s great to get results. Those characteristics have afforded me exceptional opportunities. However, if there was one thing I wish I could say to my younger self it would be, “Never say no to a lunch invitation.”
Auto Remarketing is recognizing the 2021 Women in Remarketing honorees in the March issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website.
Next up is Adele Lococo, who is a fleet lease manager at America’s Auto Auction.
Auto Remarketing: What do you enjoy most about working in the remarketing industry? But, also, what aspect(s) of the business would you change – and how?
Adele Lococo: I have been very fortunate during my career to be surrounded by people who have encouraged me to grow my career, giving me the ability to expand remarketing world.
I think it is important that we concentrate on our customers’ needs, while providing them with services that allow them to grow as well. The auction industry has undergone many changes and advancements over the years, which has improved the accuracy and timeliness of information and enhanced our customer service. That innovative technology has allowed us all in the industry, both customers and providers, to grow together.
Over the past 25 years, I have found that people do business with companies who take care of them and allow them to meet their growth expectations. I have discovered that the best and closest relationships I have built during my career are rooted in my industry experience and my focus on providing customer service.
To maintain the health and vitality of our industry, I think it is important that we all share our experiences and knowledge, and forward this to the people who are new and just entering into the business. We’ve seen great success with Safety Sam in teaching employees how to be safe at work. I think it would be great to expand this program to include the fundamentals of our business, and offer monthly training sessions so that we can all continue to learn and improve.
AR: What are some improvements that need to be made in the industry from a diversity and inclusion perspective? What are some examples you’ve seen of D&I programs that have worked?
AL: To me, inclusion and diversity carry the same resulted principles. It is my sincerest thought that we lack women and people of color in management throughout this industry. I believe that we need to establish a woman’s network that empowers women to excel within the remarketing industry at all levels.
When I entered the industry 25 years ago at an entry-level position in dealer registration, women held administrative positions with limited opportunity for growth. While I have observed some changes over the years and seen more women advancing into prominent positions, I would like to see more.
As I reflect over my career, I have seen women working together and encouraging each other to venture into what was once viewed as a “male-dominated industry.”
As a result, this has set the framework in building the foundation for including and diversifying the workforce with women who not only possess an unlimited amount of talent, but also the skills set to be successful.
AR: Describe a time when you were either a mentor or a mentee, and how that has shaped your career.
AL: I have been extremely fortunate to have had many mentors in my life, but the person who stands out most is my husband. We have been married for 29 years, and he has always been there to support me both in my career and life decisions.
I had worked in Idaho for over 25 years and was looking for a new challenge, when my husband, who originally grew up in New Orleans, said that he would love to move back to the South. When I first accepted the position at America’s Auto Auction Baton Rouge, I did question whether I had made the right decision for both of us.
As with most life changes it takes time to adjust, and my husband was there to encourage me. Now I can honestly say in looking back, that it was the best decision that I could have made. The people who are now in my life here in Baton Rouge are truly the most hard-working and true friends that I could ever wish for.
AR: Describe a time in your career where you were challenged and how you overcame that challenge.
AL: As we all know, life is always throwing creative challenges at you, and success is a result of how you handle and control those challenges. The COVID pandemic was a record-breaker. Late in March, we were forced to reduce our staff, as most other companies did, and we had to adjust to changes in our operations. It became part of our normal life to follow new protocols, wearing masks and all of the necessary PPE equipment.
Most of us were novices but worked hard to adjust to things outside of our normal routines. Despite the begrudging tones during the reconditioning process, this inspired a more passionate appreciation for the team members we dearly missed. When it was time to start cleaning cars and removing the trash, there was a lot of screaming and broken nails, but also a lot of laughter, which resulted in our team growing stronger.
It has been with great joy that we have been able to strengthen our team with our missed colleagues.
AR: What is the top trend/storyline in the remarketing industry that you’re watching this year?
AL: To state the obvious, of course, I follow very closely what is trending with the COVID pandemic and how our partners are overcoming the day-to-day issues, so that we can adjust our own practices in order to serve our clients better. As both our sellers and buyers are faced with travel restrictions, we have made adjustments in order to provide additional services so that they can better manage their inventory and buy with confidence.
AR: What is something you would tell your younger self if you could go back to when you started your career in remarketing?
AL: If I could speak to the younger Adele, I would tell her, “Your voice matters. Don’t be afraid to take a leap into the unknown.” I have learned that in order to achieve growth, you must first be willing to take chances, to be open to making mistakes, and to turn those mistakes into opportunities.
In closing, I would tell the younger me that we are continually evolving, remarketing ourselves, if you will, to be a better person today than we were yesterday
Ralph Mahalak Jr. said that when his auto dealership was named one of the CARFAX Top-Rated Dealers last year, he heard many positive responses.
“It’s really a special award to us because it comes directly from our customer feedback,” said Mahalak, who is co-owner of the Low Payment Kings’ Mahalak Auto Group in Florida, Michigan, and Ohio, in a news release.
CARFAX said it is again honoring an exclusive group of used-vehicle dealers that verified customers rated highly in its second annual Top-Rated Dealer Program. Mahalak’s dealership was honored this year for the second time.
The 2020 CARFAX Top-Rated Dealers received an average of 4.6 out of a possible five stars.
CARFAX Top-Rated Dealers are currently receiving word of their inclusion in the list. As winners, they will have access to custom CARFAX Top-Rated Dealer digital assets that will help them share their strong CARFAX ratings in their online presence.
That includes social media using #CARFAXtoprated.
Customers will also be able to see those dealers’ 2020 CARFAX Top-Rated Dealer badge on their CARFAX Vehicle History Reports.
CARFAX has more than 2.2 million verified customer ratings and reviews for U.S. dealerships.
“The Top-Rated Dealer program recognizes the best of the best for exceptional service and customer care,” said CARFAX vice president of dealer business Bill Eager.
In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week.
For more than a decade, Women in Remarketing has recognized excellence among the leaders of the remarketing and used-car business, while also inspiring and fostering future leaders. And we’re excited to do the same this year.
The full list of 2021 honorees can be found below, listed alphabetically by last name:
Emily Barber, State Line Auto Auction
Jamye Carpenter, Red Mountain Technologies/AutoCheck Auctions
Michelle Casper, IAA
Sandra Chafins, ADESA Lexington
Laura Dunn, Proficient Auto Transport
Britney Egbert, Dealers Auto Auction of Idaho
Maria F. Giraldo, United Auto Credit Corp.
Rosalinda Haltom, DriveTime Automotive Group
Stephanie Jacoob, Cox Automotive
Emily Kim, Ally
Adele Lococo, America's Auto Auction
Robin Lyday, GM Financial
Ashleigh Mathews, McConkey Auction Group
Monica Morrison, Veros Credit
Liza Nuernberg, United Road
Pamela Patton, ACV Auctions
Tricia Short, Akron Auto Auction
Marianne Simshauser, Stream
Julie Smith, Element Fleet Management
Nanci Smith, Toyota Financial Services
Chipo Taylor, XLerate Group
Laura Thacker, Bel Air Auto Auction
Melissa Trujillo, KAR Global
Deepthi Uppalapati, Capital One
Laura Wehunt, Black Book
Ellen Westpfahl, Manheim Orlando Market Center
Stay tuned for the March issue of Auto Remarketing, which will feature a Q&A with each respective honoree. Additionally, Cherokee Media Group will recognize the 2021 Women in Remarketing at Used Car Week this fall.
Avi Steinlauf says earning a spot on the Edmunds Five Star Dealer Awards list is an accomplishment in any year.
“But given the unprecedented challenges that were thrown at dealerships across the country last year, this is truly a testament to the incredible effort made by dealers to go above and beyond for their customers,” said Steinlauf, who is Edmunds chief executive officer, in a news release.
On Tuesday, Edmunds announced the winners of its 2021 Edmunds Five Star Dealer Awards, honoring 106 U.S. dealers for outstanding customer satisfaction ratings.
An additional 13 of the highest-performing dealerships earned the Edmunds Five Star Premier Dealer designation.
To be eligible, dealers must be actively participating in the Edmunds Dealer Partner program. They must have received at least 30 sales reviews on Edmunds during the 2020 calendar year. Five Star Premier dealers must have received at least 150 sales reviews on Edmunds last year. Also to qualify, Edmunds Five Star and Edmunds Five Star Premier dealers must have earned an average customer sales review rating of at least 4.5 stars in 2020.
Steinlauf said, “We’re honored to recognize the dedication and resilience of dealerships across the nation who work so hard to make shoppers feel safe, confident and heard — even in the most difficult of times.”
Just like the National Automobile Dealers Association, the American International Automobile Dealers Association hosted its annual meeting virtually, in the process handing off the chairman’s gavel and revealing its board of directors.
Set to serve as its 2021 chairman, AIADA bestowed the role to Steve Gates of Richmond, Ky., who is the owner of Gates Auto Family, which operates dealerships in Kentucky, Tennessee and Indiana.
The association also made the posthumous presentation of the David F. Mungenast Lifetime Achievement Award to legendary Indiana dealer and AIADA board member Bob Rohrman.
Gates accepted the chairmanship and the award was presented as part of AIADA’s 51st Virtual Annual Meeting that stretched over three days this week.
“Becoming chairman of AIADA is by far the biggest honor I’ve ever received,” said Gates, who represents the third generation of dealers in the Gates Auto Family.
“I can promise you that day in and day out I will do everything I can for this industry and AIADA,” Gates continued in a news release. “I’m excited and ready to go.”
The Gates Auto Family operates Audi, Ford/Lincoln, Honda, Hyundai, Kia, Lexus, Nissan, and Toyota dealerships with more than 500 employees.
Gates also is an active member of the auto retail industry as he has served on AIADA’s board of directors since 2014. In 2018, Gates testified on behalf of its members about the potential impact of proposed 232 tariffs on vehicles during a Senate Finance Committee hearing.
Gates’ industry leadership also includes representing dealers on Toyota’s National Dealer Council for six terms, Toyota’s National Product Advisory Council and the state of Kentucky’s Motor Vehicle Commission.
Furthermore, Gates is also a former Kentucky Automobile Dealers Association board member.
AIADA acknowledged that Gates is taking over as chairman following an unprecedented year for America’s international dealer community as it continues to navigate the COVID-19 pandemic, as well as new leadership in Washington, D.C.
The association said he plans to use his time as chairman to get dealers more involved in AIADA through its Dealer Visit Program, which could be especially important as a new Congress and administration set the agenda in Washington.
“My plan is to attend every meeting I can, including regional and mid-level meetings to get more people involved in AIADA. We have so many dynamic young dealers on our board of directors, and I want to see that represented in AIADA’s overall member involvement,” Gates said.
Gates is joined in leadership on the AIADA board of directors by:
— Immediate past chairman Jason Courter of Bellevue, Wash
— Chairman-elect John Connelly of Columbus, Ohio
— Vice chairman Mike Darrow of Menomonee Falls, Wisc.
— Secretary/treasurer Mike DeSilva of Emerson, N.J.
Auto Remarketing's Q&A with Gates from our January magazine can be found here.
In lieu of AIADA’s 51st Annual Meeting and Luncheon, the association held a virtual annual meeting, featuring keynote remarks by Bob Carter, Toyota Motor North America’s executive vice president of sales.
More award details
The David F. Mungenast Lifetime Achievement Award is presented by AIADA’s board of directors annually to an industry leader who possesses a similar community spirit and devotion to the international nameplate auto industry as its namesake.
The latest recipient is the late Bob Rohrman.
“Those of us who knew Bob Rohrman and his legendary generosity saw that he embodied the spirit of the David F. Mungenast Lifetime Achievement Award more than almost anyone else in our industry,” AIADA president and chief executive officer Cody Lusk said in another news release.
“There are many things we remember Bob for, but at the very top was his giving spirit and commitment to leaving the world a better place than he found it,” Lusk continued.
Perhaps the most famous car dealer in the Midwest thanks to his iconic television commercials, AIADA recollected that Rohrman got his start in the car business in Lafayette, Ind. The group later grew to more than 30 franchises with locations in Indiana, Illinois and Wisconsin.
AIADA said Rohrman passed away in September.
During his life, Rohrman was the recipient of numerous awards, including Indiana’s 2019 Sagamore of the Wabash, and he served in multiple auto industry leadership roles, including on AIADA’s board of directors.
However, AIADA pointed out that Rohrman’s generosity was even bigger than his television personality. Highlights include:
— $15 million donation to Purdue University for Rohrman Field at Ross-Ade Stadium
— $3.5 million for the Rohrman Performing Arts Center at Jefferson High School,
— Multiple other donations to organizations including Susan G. Komen, Meals on Wheels and the Make-a-Wish Foundation.
Since 1975, AIADA has presented an annual lifetime achievement award to an individual who is set apart by a deep commitment and contributions to the international auto industry and community involvement.
During AIADA's 2007 annual meeting and luncheon in Las Vegas, Lusk honored the late AIADA chairman and long-time AIADA supporter, Dave Mungenast, Sr., by renaming the association's lifetime achievement award in his honor.
The new year is here, but for many people, COVID-19 continues to have an economic impact, said David Wurster, president of data company, Vincentric.
“It's more important than ever to make informed and intelligent financial decisions,” Wurster said in a news release.
To help consumers do that, Vincentric named the winners of its 17th annual Vincentric Best Value in America Awards.
If consumers looking to make informed decisions used these awards to choose a vehicle, they would most likely pick a Toyota, Honda or Volvo.
Toyota Motor Corp. won 12 model-level awards and three brand-level awards between the Toyota and Lexus brands. Honda, with Best Value Passenger Car brand, was another brand-level winner, along with Volvo for Best Value Luxury SUV & Crossover brand.
For the passenger car category, Honda outperformed 14 other brands to win.
Honda and Volvo won their respective brand-level awards for the third time.
Toyota was victorious in the categories of Best Value SUV, Crossover, & Van brand, and the Best Value Truck brand.
Vincentric said the Tacoma was Toyota's top contributing model. The Tacoma is the only vehicle to win its segment consecutively for all 17 years that the Vincentric Best Value in America Awards have been conducted.
Lexus won the category of Best Value Luxury Car brand. Its ES sedan led the way, winning the Luxury Mid-Size Sedan segment for the sixth time.
Civic and Odyssey led the way for Honda, with those vehicles winning in their segments for the 10th and 11th time, respectively.
Volvo’s XC90 took the prize for the third time in the Luxury Mid-Size SUV/Crossover segment. And for the fourth time, Volvo’s XC90 Plug-In Hybrid won the Luxury Hybrid SUV/Crossover segment.
For the awards, Vincentric measures cost-of-ownership using eight different cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
Vincentric uses a statistical model, identifying the Best Value in America winners by measuring which vehicles had lower than expected ownership costs given their market segment and price.
Using a range of annual mileage intervals and insurance profiles, the company evaluated more than 3,000 vehicle configurations in all 50 states plus Washington D.C.
Aside from Toyota, Honda, and Volvo, other models gained some of the spotlight as well in the Vincentric Best Value in America Awards. Several were repeat winners in their segments. One was the Audi A7, which won the Luxury Large Sedan segment for the fifth time.
Another was the GMC Sierra 3500, which won the Full-Size 1-Ton Pickup segment for the fourth time. And the Mazda MX-5 Miata and Hyundai Accent won their segments for the third time.
Cadillac and GMC were multiple model-level winners with two awards apiece. Audi, BMW, Dodge, Hyundai, Infiniti, Kia, Mazda, Porsche, Subaru, and Tesla were brands with one model-level winner.
“The Vincentric Best Value in America Awards use a data-driven analysis designed to give financial insight to consumers who are planning the purchase of a new vehicle,” Wurster said.
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.
As part of Used Car Week's Pre-Owned Con next week, Cherokee Media Group will recognize honorees in the annual Used Car Awards, a program presented by KAR Global.
That includes our annual Independent Dealer of the Year, which this year goes to Kevin Condon, who is general manager of Auction Direct USA in Raleigh, N.C.
Below is a Q&A with Condon, which is available to CMG Premium subscribers now and to all readers in the upcoming December edition of Auto Remarketing.
Auto Remarketing: What was your first job in the car business and what did you learn from it?
Kevin Condon: When buying a used Geo Storm from a family-owned Chevrolet/Oldsmobile dealership in a small town in upstate New York, the sales manager involved in the deal recruited and convinced me to work on his sales floor, selling new and used vehicles. I knew nothing about the business, so I did what I was told without exception — even if I didn’t believe in the instructions, I followed them to the T.
During my seven-year sales consultant stretch, I was able to build a significant book of repeat and referral business. To this day, I’m grateful to my hiring sales manager, Tom Rosati, for his influence and sport metaphors during moments of self-doubt. I learned you can never stop learning if you want to keep the odds in your favor. I learned that I can’t be afraid to fail if I wanted to keep trying, and I learned that this business can only be fun if you don’t take yourself too seriously. And by the way, I still have a lot to learn.
AR: What do you enjoy most about the car business today?
KC: What I enjoy most about the car business today is training and development. Every business, no matter the industry, is only as good as the people and practices that our customers experience. Proactive approach with individuals and departments to identify stress or bottlenecks in process or people can seem daunting if not addressed fist hand to better understand the best remedy for positive results. I enjoy seeing customers and employees exceed their expectations.
AR: How has automotive retail changed the most since your started?
KC: As much change as I’ve seen over the years, I never expected people willing to buy used vehicles without seeing, touching and driving them first. Online interaction has gone from “when can you come in to see us?” to “when can we deliver your car?” Our industry is changing faster than the resources needed to keep up. To evolve in this new age, innovative minds is a prerequisite.
AR: How has COVID-19 impacted the way your store does business, and how have you adapted?
KC: Special thanks to all the men and women of the NIADA and NADA for their part in the automotive industry categorized as essential throughout this national pandemic with thoughts and prayers to the businesses that are still struggling due to reasons outside their control.
The impact of COVID-19 has affected us all in many different levels. We consider ourselves very fortunate to have only one of 79 employees test positive post COVID-19. Our 100% compliance to CDC protocols helps make our customers and employees feel safe to perform their jobs with minimal risk.
AR: Outside of COVID, what are some top challenges facing independent dealers in the used-car space? And what are some major opportunities?
KC: Being an independent used-car dealer gives us the freedom to sell any make and model but does leave us dependent on the franchised dealer for recalls and warranty repairs; consequently, customer experience is out of our control and vulnerable for unnecessary upsell. Having a good relationship with local franchised dealerships can make all the difference.
As part of Used Car Week's Pre-Owned Con next week, Cherokee Media Group will recognize honorees in the annual Used Car Awards, a program presented by KAR Global.
That includes our annual Franchise Dealer of the Year, which this year goes to Rick Ricart, president of Ricart Automotive Group.
Below is a Q&A with Ricart, which is available to CMG Premium subscribers now and to all readers in the upcoming December edition of Auto Remarketing.
Auto Remarketing: The auto business, of course, is a family business for you at Ricart Automotive Group. What was your first job in the family business and what did you learn from it?
Rick Ricart: My first tax paying real position at the dealership was selling new Chevrolets in the summers while in college. However, I can joke that long before that I would “work” occasional days doing manual labor, helping the maintenance department, or painting light poles as punishment. I look forward to passing that privilege to my children as well one day (I’m funny, too).
AR: What do you enjoy most about the car business today?
Ricart: The challenges. More specifically, the game of disruption between the traditional OEM/dealer network and the new start-up “Wall Street ventures.” I’m a firm believer that we must not let the disruption happen, but do the opposite which is innovate ourselves. Technology is becoming available for dealers to take the next steps.
AR: How has automotive retail changed the most since you started?
Ricart: Since the early 2000s, I have seen dramatic change. My first summer selling cars, I had one of those spiral bound green books (and analog CRM) and a pen.
We had a DMS but no CRM and barely a website. Now the website, digital retailing tool (we use AutoFi), CRM and DMS are all flowing together with very little communication and human contact, and we are selling cars.
AR: How has COVID-19 impacted the way Ricart does business and how has your group adapted?
Ricart: We are lucky. We adopted AutoFi and began offering remote/online buying almost three years ago so our staff was trained and ready when the pandemic hit.
We had experience and immediately sprang into action offering remote deliveries and express delivery at the dealership. We also opened a very large fleet/commercial service department in March and that turned out to be a home run because of all of the delivery and work vehicles needing repairs to keep moving. We also changed up marketing messages to be more community focused and show care and that has been a powerful move.
AR: Lastly, what sets your dealership group apart?
Ricart: Simple. It’s our people. Our culture. The family we have here does not just stop at the nine Ricarts that are working here: it’s the dozens of managers and leaders that have become family over the years. We have great tenure and low turnover and they are absolute superstars in everything they do.
