Awards Archives | Page 16 of 52 | Auto Remarketing

Auction roundup: United Auto Credit’s top honor; Academy update

As TPC Management Co. (TPC) rolled out details for the next installment of Auction Academy, an operation that has sent graduates through that continuing education program recently received a top industry accolade from United Auto Credit.

Officials announced registration for Auction Academy Class 6 is now open as it's scheduled for May 16-18 in Nashville, Tenn.

And showing how training can be beneficial, United Auto Credit has named Missouri Auto Auction as its 2018 Auction of the Year.

Auction Academy’s Class 6 news

Auction Academy has confirmed Class 6 participants from the following operations:

—McConkey Auction Group
—BSC America
—Big Valley Auto Auction
—Carolina Auto Auction
—Clark County Auto Auction
—Louisiana’s 1st Choice Auto Auction
—Auction Edge
—Plaza Auto Auction
—FastLane Auto Exchange
—CARS Recon
—Dixie Auto Auction
—America’s Auto Auction.

Auction Academy president Penny Wanna said in a news release that interest in the sixth class group has been “tremendous.”   

“Auction Academy’s presence and exhibit booth during the 2018 NAAA/NRC Convention in Scottsdale, and the positive reviews by previous graduates and the companies they work for have generated great interest and excitement for the upcoming Class Group,” Wanna said.

Auction Academy has developed two curriculums. One is a two-year program structured like an executive MBA program that provides training and development for auto auction professionals. The second is Seminar Series, which features one-day sessions covering a specific topic or functional area. The curriculum includes site visits, field trips and work with experts in all areas of auction operations.

Auction Academy also announced the completion of the seventh session of Class Group 5 in Detroit and that its final session and graduation would take place at the 2019 CAR Conference in Las Vegas next month.

In addition, the academy made its seminar series available to the staff at BSC America’s Bel Air Auto Auction in Belcamp, Md.

“Class 5 has been the most Industry-aggressive group to-date, with both the IARA CAR Certification and Safe T. Sam Certification added to our curriculum,” Wanna said in a news release. 

“Our students have worked diligently to complete their certifications during and in between class sessions," she added.

Class 5 will meet next during the 2019 CAR Conference in Las Vegas beginning on March 25. In addition to a tour of ADESA Las Vegas, the group’s eighth and final session will include in-class presentations by Brent Ramels of SmartAuction, Lynn Weaver of IAG, Cody Boswell of Missouri Auto Auction and Auction Academy Alumni, who will host a segment on Auctioneering 101.

The group’s graduation ceremony will take place on March 27 during the conference’s awards and recognition ceremony. During the IARA portion of the ceremony, the entire class is expected to receive IARA CAR certifications.

Back on Dec. 3 and 4, the academy took its workplace culture seminar to BSC America’s Bel Air Auto Auction, and the auction’s department heads and key employees attended a program focusing on sexual, physical and mental harassment, physical danger, safety and insurance. 

“The Nichols family has developed a strong culture of continued education, key reminders and real-time guidelines to help ensure a safe and productive work environment for their dedicated employees,” Wanna said .

United Auto Credit honors Missouri AA

As mentioned, United Auto Credit awarded Missouri Auto Auction as its 2018 Auction of the Year.

United Auto Credit director of loss mitigation Scott Mousaw noted in a news release that the honor stemmed from consistently performing at the highest levels in sales, services and operations.

This year’s award follows Missouri Auto Auction’s designation in 2017 as a United Auto Credit regional auction of the year. Missouri AA is a member of the ServNet Auction Group.

“The auction’s dedication to service shows in every step of the auction process, and by every member of the auction team who has responsibility for our vehicles,” Mousaw said.

“Missouri Auto Auction has developed a robust market for United Auto Credit, and their concerted efforts on our behalf are evident in outstanding retentions and conversions throughout the year," he continued.

Mousaw will present the Auction of the Year Award on site at Missouri Auto Auction in March to the auction’s general manager, Justin Brown, and the auction team.

Brown said in a news release that the auction has been selling vehicles for United Auto Credit since 2010, featuring its vehicles at monthly sale events.

Subaru, Lexus top brand lists in 5-Year Cost-to-Own awards

When purchasing a vehicle, buyers would be wise to consider typical ownership costs to see the out-of-pocket expenses they will incur beyond the initial purchase price.

Kelley Blue Book took that into account in naming its 2019 5-Year Cost to Own Award winners, recognizing new vehicles with the lowest projected ownership costs.

Subaru and Lexus came out on top in the 5-Year-Cost-to-Own categories of brand, and luxury brand, respectively.

“Subaru’s key advantage is its high residual value, which lowers depreciation costs,” Eric Ibara, director of 5-Year Cost to Own for Kelley Blue Book, said in a news release. “Lexus offers consumers luxury vehicles at an affordable price and without expensive repairs down the road."

KBB’s 5-Year Cost to Own information considers factors such as depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.

“Our 5-Year Cost to Own information breaks down typical ownership costs, so shoppers can evaluate the out-of-pocket expenses they will incur beyond the initial purchase price,” Ibara said. “Consumers could save money down the road by choosing a vehicle that best fits their needs and their long-term budget.”

Following are KBB’s 5-Year Cost to Own Awards by vehicle category:

Compact car: Kia Soul
Mid-size car: Honda Accord
Full-size car: Chevrolet Impala
Entry-level luxury car: Acura ILX
Luxury car: Lexus GS
Mid-size SUV/Crossover—3 row: Mitsubishi Outlander
Full-size SUV/Crossover: Nissan Armada
Luxury subcompact crossover: Nissan Armada
Luxury subcompact SUV/crossover: Lexus UX
Luxury compact SUV/Crossover: Lexus NX
Luxury mid-size SUV/Crossover—2 row: Lexus RX
Luxury mid-size SUV/Crossover—3 row: Infiniti QX60
Luxury full-size SUV/Crossover: Infiniti QX80
Off-road SUV/Crossover: Jeep Wrangler
Mid-size pickup truck: Toyota Tacoma
Full-size pickup truck: Toyota Tundra
Minivan: Honda Odyssey
Sports car: FIAT 124 Spider
Hybrid/alternative energy car: Toyota Prius c
Electric vehicle: Nissan LEAF
Subcompact SUV crossover: Mazda CX-3
Compact SUV crossover: Subaru Crosstrek
Mid-size SUV/Crossover, 2 row: Hyundai Santa Fe

(2019 model-year vehicle's projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period).

For more information about the 2019 5-Year Cost to Own Award winners, go to  https://www.kbb.com/new-cars/5-year-cost-to-own-awards/.

GM wins OEM loyalty award; Used-to-new conversion impacts loyalty

Last year, 53.7 percent of customers returned to market to purchase or lease another new vehicle from the same make they already owned.

Also, converting a customer from used to new can have an impact on loyalty rates.

More than 29 percent of used-vehicle owners who returned to market for a new vehicle during the 2018 model year purchased the same brand. In addition, customers returning to market with a certified pre-owned vehicle who purchased a new vehicle of the same brand did so at a rate of 38 percent.

All of that is according to an analysis by business information provider IHS Markit, which presented its IHS Markit Loyalty Awards on Tuesday during the Automotive News World Congress.

At the presentation, General Motors retained its position as the leader in automotive manufacturer loyalty, receiving the evening’s top award (Overall Loyalty to Manufacturer) with a loyalty rate of 68.3 percent.

Ford was the winner in the category of Overall Loyalty to Make, with a rate of 63 percent.  

IHS Markit honored winners in more than 30 categories. Automotive News World Congress is held alongside press and industry days for the North American International Auto Show in Detroit.

The  aforementioned 53.7-percent rate of customers purchasing or leasing a new vehicle from the same make they already owned sets a record in the IHS survey in loyalty rate, although the increase was just one tenth of a percentage point from last year. That demonstrates a flattening of loyalty rates in the industry after years of increases, according to IHS.

But IHS notes the competition is stronger than ever at the top. 

In 2014, only one brand scored a loyalty rate above 60 percent, and five percentage points separated the top three brands. During the 2018 model year, only three percentage points separated the top three brands, and now two brands score a loyalty rate above 60 percent, with the third only two tenths of a point away.

IHS Markit reviewed additional influencers impacting loyalty metrics. Make loyalty rates among those who financed through captive lenders were 57.8 percent during the 2018 model year, more than eight percentage points higher than loyalty rates of those who financed with non-captive lenders (49.4 percent loyalty). Service experience also played a role, resulting in a 4.5-percentage-point lift in loyalty among owners who service within the dealer network.

Ford achieved the highest loyalty rate of all makes during the 2018 model year, winning the Overall Loyalty to Make award for the ninth consecutive year. The award for Highest Conquest Percentage for the 2018 model year went to Jeep for the second year in a row.

IHS Markit again honored Toyota for highest Ethnic Loyalty to Make among all ethnic groups combined, as it led in loyalty among all three ethnic groups: African-American, Hispanic and Asian.   

Lincoln was a repeat winner in the Highest Loyalty to Dealer category, as more Lincoln owners returned to a Lincoln dealer for another Lincoln than any other brand during the 2018 model year.

Tesla was recognized for Most Improved Loyalty to Make for the model year and also was recognized for Most Improved Conquest Percentage during the 2018 model year.

A complete list of winners from the program is as follows:                                                                                               

Honda highlights Buyer’s Choice Awards

Honda came out on top in the 2019 AutoWeb Buyer’s Choice Awards with five wins in the categories of hatchback, van, sedan, compact, and small SUV, with the 2019 Honda Accord winning Best Car of the Year and the 2019 Honda CR-V winning Best Utility Vehicle of the Year. 

General Motors won four category awards for the luxury SUV, coupe, alternative-fuel vehicle and sports car categories. Ford rounded out the top three overall winners, with its 2019 Ford F-150 clinching the Best Truck of the Year category. 

These awards represent the most popularly submitted price quote requests for specific vehicles from more than 120 million consumers who visited AutoWeb’s network of automotive websites from October 2017 to October 2018, compared to all other vehicles in their competitive sets. Data in 17 car shopping sub-categories was analyzed for these awards.

“Unlike awards comprised of editors’ top picks or consumer surveys, the AutoWeb Buyer’s Choice Awards represent what millions of real consumers have actually chosen during an important part of their shopping process. Our awards are simple: They recognize the vehicles that have generated the most price quote requests on our websites,” said Jared Rowe, president and chief executive officer of AutoWeb, in a news release.  

The following are the category winners of the 2019 AutoWeb Buyer’s Choice Awards:

The following are the number of awards each winning manufacturer garnered in the AutoWeb 2019 Buyer’s Choice Awards:

AIADA to honor California dealer during annual meeting

When the American International Automobile Dealers Association gathers for its 49th annual meeting and luncheon in San Francisco in January, the group also will be honoring a member from the Golden State.

AIADA plans to give the 2019 David F. Mungenast Sr. Lifetime Achievement Award to Dave Conant, a dealer from Newport Beach, Calif. The award is presented each year by AIADA’s board of directors to an industry leader who possesses a similar community spirit and devotion to the international nameplate auto industry as its namesake.

Conant is the founder, owner and chief executive officer of the Conant Auto Retail Group (The CAR Group), which currently operates 11 automobile franchises in California and Florida. He is a committed and active member of the auto retail industry and served on AIADA’s board of directors for many years, including its executive committee.

Conant’s community involvement spans numerous charitable causes in support of education, health and wellness. The Conant Family Foundation, joined by employee-funded contributions, has provided millions of dollars to local causes, including Make-a-Wish, the American Red Cross, the American Cancer Society, the Boys & Girls Club, City of Hope, Children’s Hospital of Orange County and recent disaster relief efforts in the wake of hurricanes and wildfires in California.

“I am always impressed with the generosity of auto dealers, but when it comes to community engagement, Dave Conant truly stands apart. In addition to running one of the country’s most successful dealership groups, he has always made time to give back to his community and those around him,” AIADA president and chief executive officer Cody Lusk said.

“I can think of no one more deserving of this honor and look forward to presenting the award during our upcoming annual meeting this January in San Francisco,” Lusk added.

In addition to the presentation of the award, AIADA’s 49th annual meeting and luncheon will also feature a look at the year ahead with 2019 chairman Howard Hakes of California, and keynote remarks by Bob Carter, executive vice president of sales at Toyota Motor North America.

Dealers can register today for AIADA’s 49th annual meeting and luncheon set for Jan. 27 in San Francisco by going to this website or by calling 1-800-GO-AIADA.

Trophy Nissan: Our 2018 CPO Dealer of the Year

In 2012, Auto Remarketing launched its “Best CPO Dealers in the USA” series, an annual program that includes brand-by-brand rankings of the dealerships with the most certified pre-owned sales from the preceding year. 

The No. 1 CPO seller for Nissan has been the same in each of the seven editions of “Best CPO Dealers.” 

That dealership? The appropriately named Trophy Nissan in Mesquite, Texas. The store, located in the Dallas area, has now added a new “trophy” to its mantle. 

Trophy Nissan is Auto Remarketing’s 2018 CPO Dealer of the Year, an award sponsored by ADESA. 

The CPO Dealer of the Year award will be presented at the Used Car Awards Luncheon, which is sponsored by TradeRev, on Nov. 13 during Used Car Week.

Used Car Week is being held Nov. 12-16 at the Westin Kierland Resort & Spa in Scottsdale, Ariz.  Early bird registration rates for the conference end after Tuesday. 

‘Go all in’

Nearly a decade ago, Trophy Nissan decided to “go all in” with certified pre-owned, said Eric Shoemaker, the store’s pre-owned director. The dealership began making sure its personnel was “comfortable with the certification process” and implementing a reconditioning strategy to where any qualifying car was reconditioned to the point it met Nissan’s CPO requirements. 

Certified has been “our big value-add,” Shoemaker said, helping to differentiate the store from its peers. 

Making CPO a focal point has clearly resonated with Trophy’s customer base.  Shoemaker said in the phone interview that, “when we’re asking them why they chose us, it’s ‘because we wanted to buy a certified car.’” 

The consumer “acceptance” of CPO continues to gain traction each year, Shoemaker said.  

And that’s evident in Trophy’s sales. The dealership sold 2,125 CPO vehicles last year to top Nissan’s ranking, and Shoemaker expects to see an uptick in certified sales (and overall sales volume, for that matter) this year. And he believes Trophy will once again lead Nissan’s CPO list. 

“I can’t foresee us losing that spot this year, either,” Shoemaker said. 

CPO challenges & opportunity 

Going back to Shoemaker’s point on consumer acceptance of certified, he attributes it to the peace-of-mind that CPO can offer. 

 “I think that everybody’s had a bad experience with a used car, and the certification, that peace-of-mind, knowing that you’re buying something that’s a good piece of equipment, is just more and more important,” he said. 

“And people are willing to spend a little bit extra money to make sure that they’re getting something that’s had Nissan certified technicians going through it,” Shoemaker said. “That way they’re not going to have problems after the sale.”

That’s certainly an opportunity CPO offers. 

One trend that presents both a challenge and opportunity in certified is the strong supply of off-lease volume. 

“It can be a double-edged sword. It’s helped with availability… (however) it’s hurt values, where obviously, big supply always is going to drive down price, which drives down the value of a car,” Shoemaker said. “But as far as for a resale standpoint, people are getting more for their money.”

He did note in the August interview that “in the last few months” supply had gone down, so “we’re seeing a pretty big rebound in values for their product.”

One challenge specific to the Dallas area is that it’s “super competitive,” Shoemaker said. 

“And it always has been. As far as wholesale goes, I would say this is probably one of the stronger markets in the country,” in terms of the prices that vehicles will fetch, he said. 

“It’s hyper-competitive,” Shoemaker said. “There’s a lot of good Nissan stores in the area, and (they) do a good job. This makes it even more important to differentiate yourself from them. 

“It’s everything. It’s your sales process and how you’re handling internet leads; it’s a collection of stuff. Making sure that you get the opportunity and take really, really good care of the customer. That’s kind of the name of the game.”

However, he did note that being in such a competitive market means CPO prices are relatively low, which has driven out-of-state business for Trophy. 

Much of that business is set up over the phone, where the shopper discusses the deal with the necessary dealership personnel over the phone and then has an easy handoff once he or she comes into the store. 

“More and more people are preferring to do it that way,” Shoemaker said. 

As far as the overall used-car market (beyond his neck of the woods), he sees the biggest challenge as “staying competitive and running a decent margin at the same time.” 

He counts one of pluses as the fact that there’s solid supply.

“The certified pre-owned business is really, really good. There’s a lot of demand,” Shoemaker said. “If you can acquire and turn it into a good quality product, there’s going to be somebody that’s looking for it. 

“That’s a huge positive. There’s a big demand for pre-owned cars, especially certified.”

Podium makes Forbes list of top 100 cloud computing companies

Podium has been named to Forbes’ 2018 Cloud 100 list, which is made up of a group of 100 private cloud companies from across the globe that lead their industries in revenue, sales growth, valuation and culture.

In its third year, the list of top 100 private companies in cloud computing in the world is published by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures.

“The power of the cloud has transformed the way people do business, and we are honored to be recognized by Bessemer Venture Partners, Forbes and Salesforce Ventures for our innovative technology solutions that benefit both local businesses and their end-consumers,” Podium chief executive officer and co-founder Eric Rea said in a news release.

“We help any businesses with a physical location improve their customer interactions and drive purchase decisions better than anyone, and this award is a testament to the talent and hard work of our team in creating our platform.”

This most recent recognition of Podium closely follows it earning the No. 13 spot on the Inc. 5000 list of America’s fastest growing companies this year.

“For the past three years, The Cloud 100 list has identified the top cloud companies that are reshaping their respective industries,” said Alex Konrad, Forbes editor of The Cloud 100. “I am consistently impressed by the caliber of companies honored on The Cloud 100 list. It is an exciting time to a be a cloud company and founder.”

The selection process for the Forbes Cloud 100 involves a 34-member judging panel, made up of top public cloud company chief executive officers who assessed specific criteria to pick the top 100 cloud companies from around the world, according to The Cloud 100 website.

Forbes Cloud 100 judges' scoring and ranking of companies rely on four factors: market leadership, estimated valuation, operating metrics and culture.

“All of the 25 cloud IPOs and major cloud acquisitions over the past three years have been prior members of The Cloud 100, and we absolutely expect that the dominant public cloud companies of the future will also come from this list,” said Byron Deeter, a partner at Bessemer Venture Partners.

“The 2018 Cloud 100 represents well over $135 billion in private shareholder value — an astonishing figure that reminds us yet again of the power of the cloud. The way we do business will be dramatically different as a result of these companies, and I am honored to celebrate the remarkable accomplishments of the founders and teams behind each company on the 2018 Cloud 100.”

The Forbes 2018 Cloud 100 list of companies will be featured in the September issue of Forbes magazine.

KAR partners with Jefferson Awards Foundation to honor employee volunteerism

As a new partner of the Jefferson Awards Foundation (JAF), KAR Auction Services has plans to recognize employees for their volunteer endeavors and dedication to community service early next year.

KAR announced Thursday that it will honor up to six employees who have been nominated by their co-workers to be a  2019 JAF national honoree.

One of the six nominated KAR employees will represent the company at the annual JAF national ceremony in Washington, D.C.

“Giving back to the community is one of KAR’s core values, and something we take very seriously in the areas where we work and live,” KAR chief executive officer and board chairman Jim Hallett said in a news release. “We know that KAR employees are active in their communities in many ways, donating their personal time for local organizations who rely on volunteers. I look forward to celebrating our employees who give back in such meaningful ways and personally thanking them for making a difference.”

It was over two decades ago, in 1972, that JAF was established by former First Lady Jacqueline Kennedy Onassis, former Sen. Robert Taft Jr. and Sam Beard, who has created and chaired programs for seven U.S. presidents.

Each year, JAF honors exemplary volunteers from across the country for the selfless work they perform, as well as the influence that they have on others who join them in their communities. The organization has recognized over 61,000 people since its inception, according to KAR.

“We are thrilled to partner with KAR Auction Services and welcome them into our Champions program,” said JAF CEO Hillary Schafer. “By celebrating outstanding service with employees who impact their communities, KAR Auction Services is setting an incredible example for organizations across the country and will impact lives for years to come.”

ACERTUS named 1 of St. Louis top 150 workplaces

ACERTUS, formerly known as MetroGistics, has been named one of the 150 Top Workplaces by the St. Louis Post-Dispatch.

To determine its list of winners, ACERTUS said that the newspaper surveyed a total of 44,000 people.

In addition to exuding effective leadership, strong values and clear direction, ACERTUS was recognized for its employee amenities such as a full-service gym and game room, collaboration areas, and Giving Back program, in which a different employee every month selects a local charity to receive a check from the company.

ACERTUS is also committed to employee health and safety, and has implemented the ACERTUS Saver program that trains employees in CPR and first aid to assist with medical incidents and emergencies.

“From day one we set out to hire the best people we could and provide them with the best environment to excel at their jobs,” MetroGistics’ co-founder and chief executive officer of ACERTUS William Billiter said in a news release. “We are very honored to be named a Top Workplace in St. Louis and will continue to look for ways to engage and inspire our employees.”

ACERTUS was first founded as MetroGistics in 2010. Along with its headquarters in St. Louis, ACERTUS also runs facilities in Alpharetta, Ga., and Lenexa, Kan.

NAAA names Manheim Darlington Southern chapter of the year

On the heels of naming the Kansas City Independent Auto Auction its Western Chapter Auto Auction of the Year on Monday, the National Auto Auction Association continueed National Auto Auction Week celebrations on Tuesday, announcing that this year’s Southern chapter winner is Manheim Darlington.

Along with its fundraising success and volunteer efforts, the association said that Manheim Darlington was also chosen for the steps that the auction's staff takes to serve its local South Carolina community each month.

“I am honored to make this announcement as part of National Auto Auction Week that Manheim Darlington is our selection for NAAA’s Auto Auction of the Year,” NAAA Southern chapter president Jerry Barker said in a news release.

“Our panel of five judges was excited by the community involvement of our nominees and amazed by the money raised for so many wonderful charities, but it was obvious that as general manager Danny Brawn says, Manheim Darlington is an auction in Small Town USA with employees who have big hearts. Congratulations to them and to all the auctions that support their communities — keep up the good work.”

Manheim Darlington is one of four finalists — joined by NAAA’s Eastern, Midwest and Western chapters — who are in the running for the top NAAA honor the “Auto Auction of the Year Award for Excellence in Community Service.”

This year, NAAA said that Manheim Darlington has gone beyond just hosting the regular blood drives it holds throughout the year.  According to NAAA, the auction has already collected over 20 pints of blood and raised $10,000 for the American Red Cross as part of its Diamond Jubilee Anniversary Sale.

On top of that, Manheim Darlington has also hosted monthly lunches for teachers, a school supply drive and a “Drive Away for Hunger” fundraiser that raised more than $2,500 and 89 pounds of food.

According to NAAA, Manheim Darlington employees who are on a committee come together each month to plan fundraising activities and initiatives that support local charities and schools.

In addition to being presented with a crystal trophy at NAAA’s annual convention in November,  the auction will be featured in NAAA’s member publications, receive a $5,000 prize and an additional $20,000 payable to a charity of the auction’s choice.

The annual convention is held in partnership with the National Remarketing Conference — part of Used Car Week, which is scheduled for Nov. 12-16 at the Westin Kierland Resort in Scottsdale, Ariz.