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Hyundai, Acura top KBB ownership awards

Hyundai has taken the top brand spot in Kelley Blue Book’s 5-Year Cost to Own Awards, while Acura has earned top honors among luxury brands.

KBB also recognized 22 segment winners, which were distributed across a fairly  wide array of brands.

Chevrolet, Ford and Toyota each had four segment winners, and Buick had three.

These awards measure lowest projected ownership costs for 2016 mode-year vehicles and based on KBB data that considers depreciation, expected fuel costs, F&I fees, maintenance/repair costs and state fees.

As for the top two overall brands, KBB attributed Hyundai’s win to a low KBB Fair Purchase and across-the-lineup low fuel, maintenance and repair costs, plus “mid-range” costs for depreciation and insurance.

The 2016 Accent, Elantra, Sonata, Tucson and Veloster were among the top models for Hyundai.

The average KBB Fair Purchase Price, depreciation and fuel costs for Acura were lower than any other luxury brand. KBB also pointed to Acura’s competitive insurance and maintenance costs.

The 2016 ILX, MDX, RDX and TLX models were among the highlights. 

“New-car shoppers usually pay a lot of attention to how much a car will cost upfront; however, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs,” said Dan Ingle, KBB’s vice president of vehicle valuations, industry solutions and international.

 “Kelley Blue Book’s 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that best fits their needs and their long-term budget, helping save money down the road.”

The complete list of winners provided by KBB is below:

2016 Kelley Blue Book 5-Year Cost to Own Award Winners

2016 KELLEY BLUE BOOK 5-YEAR COST TO OWN AWARD: BRAND

HYUNDAI

2016 KELLEY BLUE BOOK 5-YEAR COST TO OWN AWARD: LUXURY BRAND

ACURA

2016 KELLEY BLUE BOOK 5-YEAR COST TO OWN AWARDS: BY VEHICLE CATEGORY

SUBCOMPACT CAR:  Nissan Versa

COMPACT CAR:  Toyota Corolla

SPORTY COMPACT CAR: Ford Focus ST

MID-SIZE CAR:  Toyota Camry

FULL-SIZE CAR: Chevrolet Impala

ENTRY-LEVEL LUXURY CAR:  Buick Verano

LUXURY CAR: Volvo S80

HIGH-END LUXURY CAR: Lexus LS

SPORTS CAR:  Chevrolet Camaro

HIGH-PERFORMANCE CAR: Ford Mustang GT

HYBRID/ALTERNATIVE ENERGY CAR: Toyota Prius c

PLUG-IN VEHICLE: Chevrolet Spark EV

COMPACT SUV/CROSSOVER:  Honda HR-V

MID-SIZE SUV/CROSSOVER:  Jeep Wrangler Unlimited

FULL-SIZE SUV/CROSSOVER: Ford Explorer

LUXURY COMPACT SUV/CROSSOVER:  Buick Encore

LUXURY MID-SIZE SUV/CROSSOVER:  Lexus RX

LUXURY FULL-SIZE SUV/CROSSOVER:  Buick Enclave

MID-SIZE PICKUP TRUCK:  Chevrolet Colorado Extended Cab

FULL-SIZE PICKUP TRUCK:  Ford F-150 Regular Cab

MINIVAN/VAN:  Dodge Grand Caravan

HYBRID SUV/CROSSOVER: Toyota Highlander Hybrid 

Women-Drivers.com honors 3 dealers

Women-Drivers.com recently named its top dealers for 2015, honoring both franchised and independent operations.

Based upon the number of reviews received and the aggregate scores of those reviews, site officials highlighted these dealerships have consistently demonstrated exceptional trust, respectful and fair experiences toward women when shopping, purchasing and in the service drive.

The winners include:

—Day Automotive Group as the 2015 Certified Women-Drivers.com Auto Group Dealer of the Year.

—Midgette Auto Supercenter as the 2015 Certified Women-Drivers.com Independent Dealer of the Year.

—Diver Chevrolet as the 2015 Certified Women-Drivers.com Dealer of the Year.

 “Each of these dealerships clearly are performing at an exemplary level with this growing buying segment. Over half of all cars are purchased by women and further, women rely on car dealer reviews twice as much as men when buying,” Women-Drivers.com president Anne Fleming said.

“Not only are these top distinguished dealerships getting excellent satisfaction scores, they are showcasing true transparency and exceptional customer treatment on an on-going basis,” Fleming added.

DealerRater hands out Consumer Satisfaction Awards

DealerRater revealed the winners this week of its second annual Consumer Satisfaction Awards, which recognize U.S. and Canadian dealerships that have received high marks for outstanding customer service on DealerRater.com and DealerRater.ca.

The Consumer Satisfaction Awards — an extension of DealerRater’s Dealer of the Year program — are given annually to the top 10 percent of U.S. franchised dealers based on their PowerScore, as well as all U.S. independent dealers and Canadian (new and used) dealers that meet the Dealer of the Year criteria.

Officials explained a dealership’s PowerScore is calculated using an algorithm that considers the dealership’s average DealerRater star-rating as well as the total number of reviews written about the dealership during the calendar year.

Consumer Satisfaction Award winners will receive a digital badge on their DealerRater Dealer Page so the site’s visitors can instantly identify providers of high-quality customer service.

The 2016 Dealer of the Year Award winners will be selected from the Consumer Satisfaction Award recipients and announced at the CBT Automotive Conference and Expo on Feb. 10.

“Many dealers have embraced online reputation management as a standard part of their day-to-day operations because consumers are increasingly using online reviews as part of their car shopping experience. The words a consumer writes about a dealer or specific employee can make the difference between whether or not someone chooses to visit a particular showroom,” DealerRater chief executive officer Gary Tucker said.

Tucker added, “2015 was a record year for U.S. car sales and the automotive sales environment is fiercely competitive. Those recognized should be proud of being at the top of their class in terms of customer satisfaction.”

For full details on the DealerRater Consumer Satisfaction Award, visit the DealerRater honoree website here.

Automotive Assurance Group honored as top producer

The Automotive Assurance Group announced Wednesday that it has been acknowledged by Warranty Solutions as the top producing agency in the United States in 2015.

AAG was honored during an awards ceremony hosted in Denver this week.

"Automotive Assurance Group are leaders in the industry and have achieved great success with Warranty Solutions,” said Jason Winchester, Warranty Solutions’ national sales director. “We congratulate them on being the top producer for 2015 and look forward to continued success with them in the future.”

AAG has represented Warranty Solutions for more than 13 years. While the company has been acknowledged for achieving top agent status in various categories before, this is the first year it has been recognized as the top producing agent in the U.S.

"We are thrilled to have our hard work recognized by Warranty Solutions,” said Nick D’Amico, AAG’s president. “The title of number one top producing agency in the country is an amazing accomplishment that we are very proud to have earned.”

For more information about AAG, visit its site here.

Sonic Automotive founder inducted into NASCAR Hall of Fame

The man behind Sonic Automotive and Speedway Motorsports, O. Bruton Smith, was inducted into the NASCAR Hall of Fame on Saturday, recognized for his decades of dedication to the motorsports world.

Smith is currently the executive chairman and director at Sonic Automotive, based in Charlotte, N.C. He founded Speedway Motorsports Inc. (SMI) in 1994, which became the first motorsports company to be publicly traded on the New York Stock Exchange a year later.  

“Being inducted into the NASCAR Hall of Fame is truly an honor,” Smith said. “For nearly 60 years, my life’s work has been to build first-rate facilities and host world-class events for fans around the country. Along with thousands of my employees, I have worked hard for the fans in hopes of providing each of them a truly unforgettable experience every time they walk through the gates. When I say, ‘we work for the fans,’ I really take it to heart. I look forward to seeing Speedway Motorsports continue to lead the way in innovation and fan fun for many years to come.”

Those more familiar with his motorsport proclivities will know Smith as the chairman, chief executive officer, director and controlling stockholder of SMI, the latter which owns Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Sonoma Raceway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Texas Motor Speedway and Kentucky Speedway.

A North Carolina native born in Oakboro, Smith began construction of what is now known as the “home track” of NASCAR, Charlotte Motor Speedway, in 1959. The next year, it was home to NASCAR’s first 600-mile race, the World 600.

SMI’s eight raceways are also home to Smith’s Speedway Children’s Charities, which was founded in 1982 to care for children in financial, educational, social and medical need in order to help them lead productive lives. The Speedway Children’s Charities has donated more than $46 million to other charities nationwide since its founding.

Other inductees from Saturday include the legendary drivers Jerry Cook, Bobby Isaac, Terry Labonte and Curtis Turner.

GM tops IHS loyalty awards

Two of the Big 3 automakers were recognized during the 20th Annual Automotive Loyalty Awards presented by IHS Automotive this week.

General Motors was honored in the category of Overall Loyalty to Manufacturer for the 2015 model year, while Ford won the Overall Loyalty to Make category.

According to IHS, the automotive loyalty awards recognize auto manufacturers and brands for customer retention and conquest efforts during the 2015 model year.

During the model year timeframe, which stretched from October 2014 to September 2015, 8.2 million consumers returned to the market for a new vehicle. Citing record levels of loyalty rates for both brands and manufacturers, IHS found that 51.5 percent of the consumers that returned to the market repurchased from the same brand as their previous new-vehicle purchase.

59 percent repurchased from the same manufacturer (but not necessarily the same make). Both of those metrics increased by over 1 percent compared to the results from model year 2014.

IHS says it expects these loyalty percentages to continue to increase.

“With the number of consumers returning to market expected to peak in 2017, and conquest efforts and competition on the rise, an increased level of focus will be required to continue driving higher volumes of loyal customers in the market,” said Steve Had, vice president of sales and marketing solutions at IHS Automotive, during award ceremony Monday evening. “The good news is that manufacturers are consciously emphasizing loyalty programs and dedicating resources to loyalty and conquest efforts as they fight for every point of market share.”

IHS’ data also shows that 14 percent of the industry is made up of consumers, coined as “super loyalists,” that have returned to market three times to purchase from the same manufacturer. Those that have returned the last two times are called “loyalists,” and make up 26 percent of the industry.

“Our analysis, which leverages the insights of Strategic Vision’s New Vehicle Experience Study (NVES), finds that Super Loyalists and Loyalists are far less susceptible to defection following a disappointing ownership experience,” Had said. “Other customers with less frequent repeat purchase behavior are almost twice as likely to defect compared with Super Loyalists The use of our insight and analytics to further understand these consumers can be key to bringing them back into showrooms for repeat purchases.”

Here’s the overall list of automotive loyalty award winners, provided by IHS:

Best Auto Auctions to Work For: Register now

Auto Remarketing is launching a new project this year to honor the “Best Auto Auctions to Work For,” and it’s one in which you can get directly involved.

In fact, we need your help to make it work. First, the details:

Best Auto Auctions to Work For

What is it?
A workplace study for the auto auction industry that will recognize the best auto auctions to work for (on an unranked basis).

It is designed and intended for individual auction locations — no corporate or HQ offices; just individual auction locations.

It is absolutely free/no charge for auctions to participate.

Winners will be recognized in the Sept. 15 edition of Auto Remarketing and at a special Best Auto Auctions to Work For recognition breakfast on Nov. 17 during the National Remarketing Conference/NAAA Convention.

Who is conducting the study?
Auto Remarketing, teaming with Best Companies Group in Pennsylvania, is underwriting the study.

However, the study will be managed by, and data analyzed 100 percent, by the staff of Best Companies Group (BCG). 

Best Companies Group will directly administer all of the surveys and manage/analyze all of the data and information.  No input from Auto Remarketing staff.

How are auctions chosen?

The Best Companies Group will analyze the data from the group of auctions choosing to participate and develop metrics and standards based on that data to determine which auctions are named to the list of Best Auto Auctions to Work For. 

It’s either pass or fail, and ONLY those auctions that pass will be included in results.  Auto Remarketing will NOT publish information on auctions that participate and do not meet the criteria required. And, again, there are no rankings.

Alright, I’m in. What do I need to do to participate?
For individual auction locations to participate, the general manager/leader of that auction needs to opt in at this website, www.bestautoauctionstoworkfor.com, by April 22.

Registration is now open.

More information and answers to many of your questions can also be found at that same website. Auto Remarketing and its print, digital, email and social media channels will be keeping you posting as this project progresses.

But for now, if you are an auction GM, make sure your auction has what it needs to participate by registering at www.bestautoauctionstoworkfor.com by April 22.

If you have a question about Best Auto Auctions to Work For, contact Mor Aframian at maframian@cherokeemediagroup.com or (800) 608-7500, ext. 126.

Element announces annual auction winners

In December, Element Fleet Management announced its 17th annual Remarketing by Element Awards in Chicago, honoring a few handfuls of auctions and a top-ranking female leader in the remarketing business.

Earning top honors as Auction of the Year was Manheim Kansas City.

“Remarketing by Element appreciates all of our partner auctions and commend those that are the best of the best,” said Paul Seger, vice president, Remarketing by Element. “We congratulate all of our winners, especially Manheim Kansas City for achieving the top honor as Auction of the Year.”

In addition to the various auction locations receiving awards, Element recognized Manheim Pennsylvania assistant general manager Amy Taitano as the winner of the Laurie Dobberphul Award.

That award is given each year to a leading female in the remarketing industry in memory of the Dobberphul, an Element Fleet Management team member who passed away in 2009.

The complete list of winners is below, with a description of each award from Element in parenthesis:

• Mid-Market – National:  DAA Northwest (best overall performance, all criteria, small volume sale)
   
• Above and Beyond – National: Manheim Seattle (auction that showed innovation and risk-taking to think out of the box with a successful result)
   
• Outstanding Promotion Event – East:  DAA Huntsville (best overall promotion regional)
   
• Outstanding Promotion Event – Central: Manheim Milwaukee (best overall promotion regional)
   
• Outstanding Promotion Event – West:  Manheim Riverside (best overall promotion regional)
   
• National Internet/Technology – East: Manheim Pennsylvania (best overall use of Internet to sell and market vehicles)
   
• National Internet/Technology – Central: ABC St. Louis (best overall use of Internet to sell and market vehicles)
   
• National Internet/Technology – West:   Manheim Nevada (best overall use of Internet to sell and market vehicles)
   
• National Operations: Manheim Utah (best overall operations)
   
• Canada – National Operations: ADESA Toronto (best overall operations)
   
• Canada – National Promotion: ADESA Montreal (best overall promotion)
   
• Canada – National Above and Beyond:  ADESA Edmonton (auction that showed innovation and risk-taking to think out of the box  with a successful result)
   
• Silver – Northeast: Americas Harrisburg (best overall performance regional, all criteria)
   
• Silver – Southeast: Manheim Central Florida (best overall performance regional, all criteria)
   
• Silver – Midwest: ADESA Minneapolis (best overall performance regional, all criteria)
   
• Silver – West: Manheim Phoenix (best overall performance regional, all criteria)
   
• Laurie Dobberphul Award:  Amy Taitano (outstanding female performer for GE account)
   
• Gold – National: Manheim Kansas City (best overall performance, all criteria)

KBB on resale values: ‘Making great cars is not sufficient’

When it comes to a vehicle’s retained value from new to used, volume is important — but selling more of a vehicle doesn’t necessarily imply its value will stay. Even if the product is spectacular, perceived quality and new quantity sold do not go hand in hand.

This is one lesson that Subaru and Lexus have apparently learned, as both were today named by Kelley Blue Book for the latter’s 2016 Best Resale Value Award winners for best brand and best luxury brand, respectively.

Auto Remarketing chatted with Eric Ibara, KBB’s director of residual values, to see why.

“I guess the simple answer would be that they make great vehicles that people want. There are a lot of brands that make great cars,” Ibara said. “I think what we’ve learned is that making great cars is not sufficient. You also need to manage the way in which vehicles are marketed and sold. And what these brands do very well, I think, is they match their production with the market demands.

“They don’t overproduce the vehicles, and they’re also marketing the vehicles in a way that enhances the value of the vehicles. So they’re not discounting their vehicles to get more volume.”

And if you take a look at the top-10 list of vehicles from the 2016 model year that KBB expects to retain the highest percentage of their sticker values, you probably won’t be surprised that eight out of the 10 are trucks or utility vehicles. What may surprise you, however, is that five of the vehicles expected to depreciate the least are from domestic automakers.

With four of those five being manufactured by General Motors, we asked Ibara if he was surprised.

“I think that people could be surprised by that. You don’t normally think of domestic brands when you think of vehicles that retain their value,” he said. “But I think that ever since GM went through bankruptcy they really have changed the way in which they approach the market. I sense, and I see, that they’re doing a better job of matching production to demand. They’re not overproducing vehicles and they’ve cut back on the volume of vehicles that they send into daily rental.

“I think these are all good signs but I guess, first and foremost, they’re making vehicles that are very appealing when you see the vehicles that have come to market over the last few years, like the Tahoe and like the Canyon and Colorado,” he continued. “You can see that the vehicles are much improved over what they’ve offered in the past.”

Those with a keen eye that follow KBB’s resale values will notice a first-time inclusion on the list: Tesla.

Ibara says that used-car transaction data for Tesla, up until recent times, was a bit hard to come by. But now that the situation has been rectified, as Ibara put it, KBB is noticing that Tesla’s Model S isn’t seeing as hard a hit in the used market as the rest of the electric vehicle segment is currently experiencing.

“The electric vehicle segment is very interesting,” Ibara said. “We are seeing EVs depreciate much faster than their gasoline-engine counterparts, where one exists. We think it’s a function of the federal tax credit that all these vehicles qualify for and we also think that the early adopters who are buying the electric vehicles want a new car. We don’t see a lot of early adopters gravitating toward used electric vehicles and as a result their depreciation is very steep, for the most part. The Model S is an exception to this rule.”

So what’s a “safe” segment to invest in, as a used-vehicle dealer? KBB expects for trucks and sport utility vehicles to remain popular for years to come — a trend that Ibara says started before oil prices dropped the favorable level they are today.

“We think it’s a trend that will be around for a while,” he said. “Oil is trading around $35 a barrel right now, and there’s really no sign that it’s going to end that streak any time soon. We’re thinking that consumers will continue to prefer sport utility vehicles and that will make them more desirable five years down the road.”

Here's the full list of KBB's 2016 Best Resale Value Awards by vehicle category:

Auction news roundup: Latest awards & philanthropy

Dealer's Auto Auction of Huntsville, as well as Dealers Auto Auction of the Southwest, have recently received awards of various types, including organizational and individual acknowledgments.

DAA of Huntsville announced Thursday that it was recognized as the Outstanding Promotion Event East Region Top Auction for 2015 during the Remarketing by Element awards ceremony at the beginning of December.

The Huntsville, Ala. location hosts a weekly sale every Tuesday morning.

Further west, DAA of the Southwest also reached out to Auto Remarketing to let us know that two of its auctioneers have been awarded at the recent U.S. Bid Calling Championship.

DAASW’s Mitch Jordan has been recognized as the 2015 U.S. Bid Calling Champion and Sean Hanafi has been awarded as the 2015 Rookie Champion.

To see them both compete, check out the video of the competition here or in the window above. Jordan can be viewed at the following timestamps: 1:34:40, 2:10:07, and 2:42:48. Hanafi can be viewed at: 00:13:40 and 2:45:47.

Moving over to the east coast in Corry, Pa., the Corry Auto Dealers Exchange has been busy over the holidays. For the fifth consecutive year, Corry ADE held its annual food drive with local dealers who partook in a Thanksgiving meal in exchange for a donation to the Corry Area Food Pantry.

Donations were made in the form of non-perishable food items and cash donations.

“Donations weighed in at 547 pounds, well over last year’s total — plus we received nearly $200 in cash,” said George Kirik, a member of the Corry Area Food Pantry’s board of directors. “It was a great turn out for a wonderful cause. We appreciate what Corry ADE does to help so much.”

Corry ADE also assisted the international charity, Stop Hunger Now, with a donation of $17,400 over the Thanksgiving holiday in association with a local congregation.

This was the third year that Park United Methodist Church has assisted Stop Hunger Now and the second year that Corry ADE has helped them raise funds.

“This year we upped our donation with an added twist,” said Tad Swift, Corry ADE auction manager and family spokesperson. “We challenged the congregation to fundraise to add to our donation. The combined amount is making it possible to send 30,000 meals more than last year — 80,000. It’s awesome to be a part of this effort with our local church and especially to make a difference to people thousands of miles away.” 

To learn more about Stop Hunger Now, click here.