Remarketing of America announced recently that ADESA Sioux Falls is its first national auction of the year ROA BlueAward winner.
The award is given to auctions who are ranked based on their performance against ROA’s productivity scorecard. The five areas of service, according to ROA, are:
- Percentage of sell price compared to MMR
- Time (days) to pick up
- Time (days) to prepare condition report
- Number of arbitrations
- Time (days) to release funds from sold units
Each auction receives a quarterly scorecard from ROA outlining their levels of service compared with its competitors. ROA announces each regions top auction every quarter and at the end of the year names the auction with the highest average score from all four quarters.
“We are pleased to present the ADESA Sioux Falls auction house with the ROA BlueAward, national auction of the year winner, for their consistent hard work and dedication throughout 2014, setting them apart from the other auctions throughout the nation,” said Emory White, ROA’s president and chief executive officer. “The ADESA Sioux Falls team, led by general manager, Bob Holm, and fleet lease manager, Melissa Cunningham, has demonstrated outstanding customer service and amazing work ethic to be modeled by others in the industry.
“The ROA BlueAward program is our way of recognizing our outstanding auction partners who play an invaluable role to the lasting success of our financial services’ clients and ROA,” White continued.
Kelley Blue Book announced on Thursday its brand and vehicle category winners for its fourth annual 5-Year Cost to Own Awards, highlighting the new vehicles and the overarching brands with the lowest-projected ownership costs.
KBB’s cost-to-own data is based on information including depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.
“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, vice president of vehicle valuations at KBB. “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 fits their needs and their long-term budget best, helping save money down the road.”
Topping the list as best value overall for KBB’s 2015 5-Year Cost to Own: Best Brand, which was competed for by all brands, was Subaru, taking the cake as the manufacturer with the lowest overall cost to own through its entire lineup. Success for Subaru has been fueled by just about its entire portfolio of offerings, including its 2015 model year versions of the Forester, Impreza, Legacy, WRX, Outback and BRZ. Subaru also recently won KBB’s award for best overall brand in its 2015 Best Resale Value Awards.
On the luxury side, domestic manufacturer Lincoln won the 2015 5-Year Cost to Own: Best Luxury Brand, featuring its currently lowest average total maintenance costs of any luxury brand. Standing out amongst Lincoln’s lineup are the 2015 Navigator, MKX and MKZ.
The remaining winners, each based on its individual category, are as follows, according to data provided by KBB:
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SUBCOMPACT CAR: Chevrolet Spark
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COMPACT CAR: Toyota Corolla
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SPORTY COMPACT CAR: Honda Civic Si
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MID-SIZE CAR: Mazda MAZDA6
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FULL-SIZE CAR: Chevrolet Impala
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ENTRY-LEVEL LUXURY CAR: Buick Verano
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LUXURY CAR: Audi A5
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HIGH-END LUXURY CAR: Lexus LS
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SPORTS CAR: Mazda MX-5 Miata
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HIGH-PERFORMANCE CAR: Ford Mustang GT
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HYBRID/ALTERNATIVE ENERGY CAR: Toyota Prius c
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PLUG-IN VEHICLE: Chevrolet Spark EV
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COMPACT SUV/CROSSOVER: Jeep Patriot
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MID-SIZE SUV/CROSSOVER: Jeep Wrangler Unlimited
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FULL-SIZE SUV/CROSSOVER: Ford Explorer
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LUXURY COMPACT SUV/CROSSOVER: Buick Encore
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LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX
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LUXURY FULL-SIZE SUV/CROSSOVER: Buick Enclave
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MID-SIZE PICKUP TRUCK: Chevrolet Colorado Crew Cab
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FULL-SIZE PICKUP TRUCK: GMC Sierra 1500 Regular Cab
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MINIVAN/VAN: Mazda MAZDA5
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HYBRID SUV/CROSSOVER: Toyota Highlander Hybrid
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More information on KBB’s 2015 5-Year Cost to Own Award winners can be found here.
As part of the Ford Auction Service Award Program, facilities operated by ADESA, Brasher’s and Manheim all recently earned accolades from Blue Oval remarketing officials.
Manheim collected the most honors as operating locations in Chicago, Manheim, Pa., New York and St. Louis were selected as recipients of a 2014 Ford Auction Recognition Award. As part of the Ford Auction Service Award Program, these locations were honored for their performance against key service level criteria.
Additionally, Manheim Pittsburgh won the Ford ASAP Second Half Sprint Closed Sale Award, and Manheim Mississippi claimed the Ford ASAP Second Half Sprint Open Sale Award as the auctions with the greatest improvement in the second half versus the first half of 2014 in their categories.
“We are extremely happy to see these six locations honored for their great accomplishments in 2014,” said Rich Coutu, vice president of commercial sales for Manheim. “Ford has asked our auctions to deliver results, and these auctions have shown what a great partnership Manheim and Ford have. Our company values this partnership with Ford, and we appreciate this terrific recognition.”
Ford recognized winners in four groups: GT, Mach 1, Cobra and Boss. In the Mach 1 category, Manheim auctions were selected as winners in both the closed and open sale categories.
Other honorees included:
— GT Group: Closed sale winner was ADESA Buffalo.
— Cobra Group: Open sale winner was Brasher’s Sacramento.
— Boss Group: Open and closed sale winner was Brasher’s Salt Lake.
Meanwhile, Manheim Chicago and Manheim Pennsylvania were selected best for open and closed sales, respectively, in the Mach 1 group, a grouping of the highest-volume auctions. Manheim St. Louis earned the award for best in the open-sale GT group, while Manheim New York took first place in closed-sale Cobra group. Both the GT and Cobra groups are smaller-volume auction groups than the Mach 1 group.
The U.S. News & World Report announced Wednesday its annual “2015 Best Cars for the Money” award winners, listing the popular consumer-facing publisher’s advice on the “best” vehicles in each vehicle category.
The manufacturer with the most winners was the American Honda Motor Company, featuring three winners from each of its Honda and Acura brands.
“In recent years, Honda has focused on providing more standard features in its Honda products and sportier performance for Acura models,” said Page Deaton, managing editor of U.S. News Best Cars. “That focus has resulted in more praise from professional car critics. Consumers now have more reasons beyond value to buy a Honda or Acura.”
A glance at the following import-dominated list of 21 vehicles may prove useful for dealers, outlining the type of vehicles that are being marketed to consumers by third-party sources as deserving their attention and their money. The following list of 2015 models was provided by the U.S. News & World Report.
2015 Best Cars for the Money
Subcompact Cars – Honda Fit
Compact Cars – Volkswagen Golf
Hatchbacks – Honda Fit
Sports Cars – Volkswagen GTI
Upscale Small Cars – Audi A3
Midsize Cars – Hyundai Sonata
Upscale Midsize Cars – Acura TLX
Hybrid Cars – Toyota Camry Hybrid
Large Cars – Chevrolet Impala
Wagons – Subaru Outback
Compact SUVs – Honda CR-V
2-Row Midsize SUVs – Nissan Murano
3-Row Midsize SUVs – Hyundai Santa Fe
Hybrid SUVs – Toyota Highlander Hybrid
Luxury Compact SUVs – Acura RDX
Luxury 2-Row Midsize SUVs – Lexus RX 350
Large SUVs – Mazda CX-9
Minivans – Mazda Mazda5
Compact Pickup Trucks – Chevrolet Colorado
Full Size Pickup Trucks – Ram 1500
“With new cars selling at record prices, shopping for a car that meets both your budget and lifestyle is an overwhelming process,” Deaton said. “The 2015 Best Cars for the Money awards help car shoppers quickly identify the models that are great values and a pleasure to own.”
For a complete list of winners and finalists, visit the U.S. News website.
KAR Auction Services chief executive officer Jim Hallett has another award to add to his mantle.
Hallett was recognized as one of six Northwood University Outstanding Business Leaders at the 35th annual Outstanding Business Leader (OBL) Awards Gala on Saturday.
Officials highlighted Hallett was recognized for his longstanding track record of professional success and leadership in the automotive remarketing industry. He has been with the KAR group of companies since 1993 when he joined ADESA Canada as president. In 1996, he relocated from his native Canada to Indianapolis to serve as president and chief executive officer of ADESA.
During his time as CEO of ADESA, the company grew from 16 to 53 whole-car auctions and expanded its finance company, Automotive Finance Corp., to fully service the floor-planning needs of the industry. He also solidified ADESA’s presence in the remarketing industry by entering the salvage vehicle market both in the United States and Canada.
From 2005 to 2007, Hallett was president of Columbus Fair Auto Auction in Columbus, Ohio. In April 2007, he returned to ADESA in the role of president and CEO, and in September 2009, he was named CEO of KAR Auction Services. Earlier this year, Hallett was appointed chairman of the board of directors.
“To receive this award amongst so many esteemed professionals — both this year’s recipients and those who have been acknowledged over the past 34 years — is truly humbling,” Hallett said. “Northwood University is known for its automotive programs that create so many outstanding professionals each year, and I’m proud to be associated with its strong reputation in our industry.”
Northwood University annually recognizes a select group of men and women for their business achievements and for their support and exemplary leadership of the communities in which they live and work. These individuals serve as role models for Northwood University students, all of whom are engaged in the study of business management, as they share anecdotes relating to the obstacles and challenges they encountered while on their personal road to business success, as well as remedies relating to how they overcame them.
In addition to Hallett, the 2015 award winners included:
— Steve Madincea, founder and group managing director of PRISM
— Sonu Ratra, president of Akraya
— Melissa Spickler, founder of The Spickler Group and managing director at Merrill Lynch
— Rollie Massimino, head coach of Northwood University men’s basketball team
— John Rotche, president of Title Boxing Club.
In the 35 years since the program’s founding, more than 300 business leaders from more than 30 states and several countries, representing dozens of industries and fields of business expertise, have received the Outstanding Business Leader Award.
The Northwood honor is the latest one for KAR’s top boss.
Back in November, Ernst & Young LLP announced the recipients of the EY Entrepreneur of the Year awards, and Hallett earned the EY Entrepreneur of the Year 2014 National Services Award.
DealerRater has announced the winners of its 2015 Dealer of the Year Award program based on consumer reviews of their dealerships experiences shared on DealerRater.com.
“Consumers have identified the dealerships that deliver an exceptional experience in the U.S. and Canada and we’re proud to recognize this top group of dealers on behalf of consumers,” said Gary Tucker, DealerRater’s chief executive officer. “New- and used-car shoppers, as well as service department customers, write more than 35,000 reviews monthly on DealerRater, and these ratings and reviews are now seen by more than 14 million consumers each month. The dealers recognized today have earned the trust of their customers and have shown that a great customer experience is a competitive advantage.”
The highest scoring dealership in the United States – Klaben Ford Lincoln in Kent, Ohio – earned a 4.875 out of 5.0 on DealerRater’s PowerScore system in 2014 with over 700 reviews. For Canada, Bank Street Hyundai in Ottawa, Ontario was awarded the 2015 Canadian Dealer of the Year award, scoring 4.781 out of 5 on the DealerRater scale.
The complete listing of award winners can be found on DealerRater.com.
Later on in the quarter, DealerRater says it will introduce an expanded annual recognition program for top dealerships in the U.S. and Canada based on consumer ratings from DealerRater.com and DealerRater.ca. The dealers recognized for the 2014 calendar year will be announced in February.
The Women’s Automotive Association International will present six women with its 2015 Spirit of Leadership Award in conjunction with upcoming NADA Convention & Expo activities in San Francisco.
The award recognizes “outstanding professional achievements, community involvement, and contributions to the growth and progress of the automotive industry,” and this year it will honor:
— Celeste Briggs, director of General Motors’ Women’s Retail Network
— Luanne Brown, president of eToolDevelopers, a member of the SEMA Board of Directors, and chairman of the SEMA Cares Committee.
— Ruth Fruehauf, founder and chief executive officer of the Fruehauf Trailer Historical Society and author of “Singing Wheels.”
— Debbie Pollack, Luxury Automotive Marketing senior strategist
— Elaine Robertazzi, retired and former owner of Liberty Lincoln-Mercury; current board of trustees member of the Boys & Girls Club of Clifton, N.J.
— Susan Scarola, former vice chairman of DCH Auto Group and the 2008 recipient of WAAI’s Professional Achievement Award; current president of the DCH Charitable Foundation.
“The women we’ve chosen to honor this year are noted not just for their extraordinary careers, but also as role models and mentors in the automotive industry and their community,” said Lorraine Schultz, WAAI founder and CEO. “They truly embody the spirit of leadership, and we are proud to recognize their achievements. We also extend deep appreciation to our Diamond Sponsor, Auto Trader, Kelley Blue Book and Manheim, for their outstanding support of our Spirit of Leadership Awards Reception.”
The 16th Annual Spirit of Leadership Awards Reception will take place Saturday (Jan.24) from 5:30 p.m. PST to 7:30 p.m. at a.Muse Gallery in San Francisco.
The WAAI International Scholarship Program, which provides tuition assistance to qualified students aiming for a career in the car business, will receive a portion of the proceeds.
“On behalf of our collective companies, we congratulate all of the 2015 Spirit of Leadership Award winners,” said Manheim North America president Janet Barnard. “We are proud to support WAAI’s efforts that recognize the achievements of women in the automotive industry, while helping to create educational opportunities and scholarships for the leaders of tomorrow.”
Headlining a list that included such well-known companies such as Apple and Starbucks, Copart topped The Exceptional 100 list released by Deloitte this week, a ranking measured by Deloitte’s new proprietary method that examines a company’s overall economic performance including profitability, growth and shareholder value.
A list of 100 U.S.-based, publicly traded companies were identified as top performers, and Copart beat out other firms such as McDonald’s, Ralph Lauren and Coca-Cola.
“Copart is excited and honored to be at the top of The Exceptional 100 list,” Copart chief executive officer Jay Adair said. “It was our founder Willis Johnson’s vision that set the frame work for the company we have become, as well as our 4,000 employees worldwide who continue to innovate and lead our business each day.”
Deloitte explained that The Exceptional 100 is based on three features of financial performance analysts contend are often overlooked:
— Financial performance is multi-dimensional: The approach embraces the idea that profitability, growth and value all matter, and so it evaluates company performance across all three dimensions simultaneously.
— Relative performance matters: Deloitte compares any company against the full population of publicly-traded companies, adjusting for industry and size. According to Deloitte, this is potentially a much more robust approach to performance benchmarking than many companies tend to use.
— Chance must be separated from skill: A single year’s results rarely reveals much about a company’s sustained performance, but what is the right time period over which to measure performance? The Exceptional 100 uses advanced statistical analyses and modeling techniques to determine how well a company needs to perform, and for how long, to be quantifiably “better than lucky.”
Copart topped The Exceptional 100 list with sterling performance on all seven measures and an average exceptional streak of 16 years. Its probability of being exceptional on value is 100 percent and its average probability across all measures is over 96 percent.
“When I look back at starting the company more than 30 years ago, failure was never an option,” said Willis Johnson, Copart’s founder and chairman of the board of directors.
“What I was doing wasn’t work. It was a labor of love. I surrounded myself with other people that felt the same way,” Johnson continued. “The vision was always to make this company more than what it was when we started out. To see that come to light and be recognized for our performance and growth over the years is truly humbling.”
Two other companies with direct connections to the used-vehicle industry made The Exceptional 100 list as well.
Credit Acceptance Corp. — one of the top 10 market share holders in used-vehicle financing — came in No. 86.
America’s Car-Mart — a network of more than 130 buy-here, pay-here dealerships throughout the Southeast — landed at No. 95.
“Current methods of evaluating corporate financial performance can be unnecessarily incomplete and disconnected," said Michael Raynor, director at Deloitte Services, and one of the lead researchers on the project. “There are essentially three ways in which a company can deliver exceptional outcomes: through profitability, through growth and through shareholder value.
“Although it is useful to know where a company stands in each of these measures individually, we believe truly exceptional companies have beaten the odds over a period of time, and have consistently outperformed on multiple measures simultaneously,” Raynor continued.
“Understanding each of these elements is critical to setting and achieving appropriate performance improvement targets,” Raynor went on to say. “Because there is no one measure of financial performance that captures everything that matters, managing financial performance means understanding how well a company is performing on multiple dimensions in order to determine which elements need improving.”
According to the companion research report, “Charting Superior Business Performance,” co-authored by Raynor and Mumtaz Ahmed, chief strategy officer at Deloitte, understanding relative performance is both critical to successfully improving performance and widely misunderstood.
“Our research found that up to 80 percent of managers either over or underestimate their company's relative performance or percentile rank,” Ahmed said. “This misunderstanding can lead to misplaced efforts, such as an unnecessary focus on aggressive cost-cutting, as opposed to increasing margins through strategic differentiation to improve long-term profitability.
“Our hope is that The Exceptional 100 study will help managers better understand this critically important dimension of their performance and will help them better focus their performance improvement efforts,” he added.
Raynor reiterated a single-year’s results are rarely significant to observers of corporate performance and there is little agreement on the time period over which stand-out performance reveals itself.
“It’s common to pick three, five, 10 and even 20 years,” Raynor said. “But these choices are needlessly arbitrary. Our statistical method uses modeling techniques that allow us to infer more meaningful time periods that are specific to each performance measure.
“As a result, we can identify those companies that are quantifiably likely to be ‘more than just lucky,’” he concluded.
KAR Auction Services announced this week that it has been named as part of the inaugural Digital Edge 25 awards, which recognizes enterprises that have leveraged digital technologies to transform their business, according to the hosts of the AGENDA conference, IDG Enterprise.
The 25 recipients of the awards will be honored at the AGENDA conference, which will take place from March 30 to April 1 at Amelia Island, Fla.
“It is an honor to receive the Digital Edge 25 award as it reflects KAR’s core value of innovation,” said Jim Hallett, chief executive officer of KAR. “It also recognizes our dedication to collaborate within our group of companies to invest in technology that ultimately benefits our customers’ experience. During the past 24 months, business stakeholders and IT professionals representing our two complementary go-to-market auction business units, ADESA and Insurance Auto Auctions, worked together to address the need for improving vehicle representation.
“We now offer more vehicle images, with greater detail, and pan and zoom capabilities,” Hallett continued. “In fact, today approximately 750,000 vehicle photos are taken each week in all weather conditions and made available to potential buyers. Given this vast amount of data, KAR has leveraged cloud technologies to enable more efficient image management and distribution.”
All entries for the award were judged by a panel of executive peers, who evaluated the projects based on sophistication, scale and business outcomes, among other measures.
“The Digital Edge awards competition was extremely competitive, with many nominations demonstrating enormous business value from mobile, data analytics and other digital innovations,” said Ann McCrory, vice president of marketing and content strategy for the IDG Enterprise events team. “Those selected by our judges stood apart for executing initiatives that, for example, drove much greater customer engagement, higher sales conversions and even new lines of business.”
