The National Automobile Dealers Association is doing more than just gearing up for NADA Show 2023 this week in Dallas.
On Monday, the Mobility Open Blockchain Initiative (MOBI) welcomed NADA to the organization that aims to develop and accelerate adoption of zero trust Web3 standards and solutions to enable seamless and secure business processes, while safeguarding sensitive business and consumer data.
MOBI highlighted NADA brings a critical dealer viewpoint to this process.
According to a news release, MOBI and NADA agree that the widespread adoption of a shared technology-agnostic framework will be critical to future innovations for members of both consortia. NADA and MOBI also believe that compliance with the Federal Zero Trust Strategy issued by the White House in 2022 will be crucial to maintain their competitive edge.
“We are thrilled to team up with NADA to co-develop solutions to help solve pain points for use cases such as vehicle registration, titling, and dealer floorplan audit,” MOBI CEO and founder Tram Vo said in the news release. “We look forward to collaborating on additional mobility and geolocation applications that improve security while preserving customer privacy.”
MOBI anticipates that NADA’s entry into the community at large will play a critical role in igniting a two-way exchange of expertise between the organizations’ respective communities, enabling greater collaboration on the road to more resilient mobility value chains and accelerating related innovations in research, development, and implementation.
“NADA is excited to work with the experts at MOBI on behalf of dealers to ensure that this important technology improves and modernizes the auto retail experience, generates efficiencies, and brings increased convenience for dealers and consumers alike,” NADA president and CEO Mike Stanton said in the news release.
MOBI welcomes organizations of all sizes, industries, and locations to share expertise, define industry standards, and improve the sustainability, efficiency, and accessibility of mobility services around the world.
For additional information about joining MOBI, reach out to Griffin Haskins via email at [email protected] or visit www.dlt.mobi.
Findings attributed to 120 dealer responses gathered this month from the CARS Drivers Seat Community identified the top three pain points stores anticipate facing in 2023.
The survey results arrived as used-vehicle inventory fell for the fifth straight month in December, according to Cars.com data, while new-model inventory increased on the marketplace for the seventh consecutive month, reaching levels not seen since the spring of 2021.
Those top three pain points noted by dealers surveyed on Jan. 6-11 included:
1. Turn more used vehicle more profitably
Some 94% of dealers said acquiring used inventory and maximizing used-vehicle margins is the No. 1 challenge heading into 2023.
2. Invest in better marketing data more efficiently
Site officials explained that inefficient spending is crushing dealership margins, so they thought it wasn’t a surprise that 81% of dealers said investing in high-quality audience-targeting data to better leverage media and marketing was the second most significant challenge to address this year.
3. Differentiate from competitors
Some 80% of dealers said differentiating their dealership from competitors is another top concern.
“Retailers face new challenges this year as new-car inventory returns, used-car supply shrinks and prices normalize. Dealers’ competitive advantages will come from efficient operations, marketing and customer experience,” CARS chief executive officer Alex Vetter said in a news release.
“We continue to integrate solutions into our proven platform that help dealers understand where and how to optimize the retail experience as it moves from online to offline — where the final mile of the sale is best left to the pros,” Vetter continued.
CARS reiterated that it has some solutions to help dealers navigate through those challenges.
Leveraging CARS’ new Accu-Trade Connected solution, retailers can capture the vehicles they want from the 27 million shoppers on Cars.com — approximately 40% of whom have a trade-in — through Instant Offers on the Cars.com marketplace and any Dealer Inspire website.
CARS also acknowledged data quality matters since only 6.1% of U.S. households actively shopping for a vehicle at any given time.
The FUEL media network can enable dealers to maximize every dollar and grow market share using Cars.com’s exclusive, first-party audience data of 27 million pure, in-market shoppers across video, display and social.
And through DealerRater, retailers can build and promote their strong reputations and connect shoppers with their top-rated salespeople across the internet to help dealers compete on dimensions other than price, such as experience and reputation.
To learn more about how CARS can help retailers with their 2023 goals, NADA Show 2023 attendees next week can visit the CARS booth (No. 509 in Hall A) at the Kay Bailey Hutchison Convention Center in Dallas.
You’re in the market for a used car so you head to the mall. You drop into a store there, grab a cup of coffee, and start browsing the 3-D holographic selection of inventory.
Sound like the future?
It’s not. It’s possible right now at the evrdrive store in The Woodlands Mall in The Woodlands, Texas..
Foundation Automotive Corporation in late December launched its first evrdrive experience center. It takes the concept of an omnichannel car buying experience to a whole new level …
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In this special episode of the Auto Remarketing Podcast, we feature "The Best CPO Dealers in the USA: Selling More Used Cars" panel discussion from Used Car Week.
This panel delves into top used-car strategies from the dealer, automaker and dealer trainer vantage point, along with their takes on the most pressing and current trends in retail automotive.
Stay tuned for more podcasts from UCW panel discussions as they become available.
To listen to the conversation, click on the link available below.
Download and subscribe to the Auto Remarketing Podcast on iTunes.
Along with highlighting the successes of a classic car auction that raised money for the school, Northwood University announced on Tuesday that it will honor five automobile dealers from across the United States with its annual Dealer Education Award at the National Automotive Dealers Association convention in Dallas later this month.
This year’s honorees include:
• Jamar Brinkley, dealer principal, Renaissance Cars, Roanoke Rapids, N.C.
• Rik Fregia, vice president, Courtesy Automotive Group, Danville, Ill.
• Chris Saraceno, vice president and partner, Kelly Automotive Group, Melbourne, Fla.
• Brandon Tomes, owner/general manager, Tomes Auto Group, McKinney, Texas
• Kevin Vanatta, owner, Newberry Motors, Inc., Newberry, Mich.
Since 1972, Northwood has recognized owners and dealer principals in the automotive marketing field who have made noteworthy, individual contributions to public or private education inside or outside of the industry.
“This marks our 51st year of recognizing outstanding dealers and community leaders who have made significant contributions to the industry and to efforts to create the next generation of automotive leaders,” Northwood president Kent MacDonald said in a news releae. “We are especially proud of this year’s honorees, and look forward to celebrating them later this month.”
The awards will be presented at a special breakfast on Jan. 28 at the Hyatt Regency in Dallas. Attendees will include students, alumni and automotive guests of Northwood University.
The school also shared more biographical information about each of the honorees.
Jamar Brinkley
Brinkley is the founder and managing partner of Renaissance Equity Group and president of The Renaissance Companies. Incorporating all he has learned over an extensive career with two major automotive groups, he formed Renaissance Cars in 2016 with a strong desire to be substantive in the automotive industry. He began his career with one of the nation’s leading automotive retailers. He excelled early on due to his leadership, salesmanship, and focus on customer satisfaction.
A mentor helped him gain experience and confidence as a general manager, and the dealerships flourished under his leadership. Brinkley believes mentorship is critical because a mentor can be a sounding board for sharing ideas and someone with whom you can communicate and seek advice.
With Brinkley’s success, he was able to purchase his own dealership after operating Renaissance Cars for several years. Putting his trust in a higher power, Brinkley purchased an existing store and rebranded it as Renaissance Nissan. As a testament to his abilities, he was recently recognized as one of Automotive News’ 40 Under 40.
Rik Fregia
Fregia is the vice president of the Courtesy Automotive Group in Danville, Illinois. Fregia started his automotive career working for a Ford dealership owned by his father. When Ray Fregia Sr. retired and sold his store, Rik Fregia teamed up with his brother, Ray, who had recently bought his first dealership.
Supporting local organizations, Fregia has served as a board member for the Crystal Lake Chamber of Commerce and Deer Crossing. He also serves as chair of the New Hope Baptist Church Scholarship Committee, which supports seniors from the local high school pursuing a college degree.
Fregia’s commitment to his community has earned him recognition with the Pride in Crystal Lake Award, McHenry County Best Under 40 Businessman Outstanding Achiever Award, Automotive News’ 40 Under 40, and the Presidential Award of Excellence.
Chris Saraceno
Saraceno is a business executive, real estate investor, speaker and leader. He is the founder of the online community DealerElite.com and co-founder of the training company Team Builders Inc. He is a former advisory board member for Autotrader, DealerRater, Hire the Winners, and Cemboo Film Distribution.
Saraceno began his automotive career in 1984 and joined The Kelly Automotive Group in 1989. In 2009, he became a partner with the organization.
Saraceno has been a featured speaker at numerous conventions and has published hundreds of articles both online and in business magazines. One of his pieces is The Theory of 5, created to help individuals of all walks of life identify the five theories that propel them into happiness and prosperity. The Theory of 5 is based on selecting mentors in the five most significant areas of a person’s life: spirituality, marriage, parenting, business and finance, and health. So powerful is this theory that Elgie Bright, chair of Northwood University’s Automotive Marketing/Management Program, incorporates it into his teaching curriculum.
Brandon Tomes
Tomes is president and director of Brandon Tomes Subaru, and vice president of Bob Tomes Ford and Brandon Tomes Volkswagen of McKinney, Texas.
After graduating from Southern Methodist University’s Cox School of Business, he joined his family business full-time in September 2007. But his learning didn’t stop there, as he is a graduate of NADA’s Dealer Candidate Academy and the NCM Associates’ General Management Executive Program.
He has received numerous professional accolades over the years. Most recently, he was a finalist for Subaru Retailer of the year in 2020. His team has achieved 10 consecutive “Love Promise Customer Commitment Awards,” Subaru’s highest retailer award, and they also earned Ford’s highest award, the President’s Award, in 2020.
His family’s philanthropic contributions have been substantial, and he has a proven record of being committed to giving back to the community through the McKinney Rotary Club’s Academic Excellence Program and the Texas Chamber Music Ensemble program. Additionally, many McKinney students are motivated by the various incentives that Tomes provides to the local schools for students with excellent marks.
Kevin Vanatta
Vanatta is the owner/general manager of Newberry Motors. As one of six boys whose father passed away when he was 13 years old, Vanatta’s childhood and teen years were influenced by his grandfather, who owned and operated an auto service garage and fueling station. Shaped by those experiences, Vanatta’s natural inclination was to establish a career in the automotive retail industry.
In 1992, he had the opportunity to buy out his employer, the dealer principal of General Motors and Daimler Chrysler dealerships in Newberry, Mich. Since then, he has built a life there, raising his family, growing his business, and serving his community.
Vanatta’s commitment to the Newberry community includes serving as president of the Newberry Area Chamber of Commerce, Ambassadors Club, and Kiwanis Club. He is also a St. Gregory’s Catholic Church member, serving on the Parish Finance Council. Additionally, he serves as a member of the Tahquamenon Education Foundation. This organization provides financial support for college expenses to graduating high school seniors who have maintained a grade point average of 3.5 or higher throughout their high school careers.
Auction of classic cars raises $2.37M for Northwood
A classic automobile collection donated by a generous couple to Northwood University fetched more than $2.3 million during an auction on Friday in Florida.
Michael and Dianne Morey of Mount Pleasant, Mich., pledged 35 vehicles from their automotive collection, and the cars were auctioned off at Mecum Auctions in Kissimmee, Fla. The auction raised more than $2,371,000 to support Northwood University and The Northwood Idea.
“Mike and Dianne’s incredible gift will be forever remembered by Northwood University,” MacDonald said. “We have retained a 1958 Chevrolet Corvette to display on campus as a reminder of the Morey’s generosity and American innovation.”
In 1983, the Moreys believed they could build a wood chipper better than anyone else. Mike left his job, invested in a small workshop, and with six employees and a small operating budget, built the Model 100 Brush Bandit, a 12-inch capacity disc-style chipper. Based on the success of the Brush Bandit, Bandit Industries was created, and Dianne actively joined the company.
Bandit designed and launched the world’s first self-propelled track whole tree chipper in 1990 and continues to be a leader in this industry segment. Bandit operates a network of more than 180 dealer locations worldwide, and it currently has 725 employees.
In 2018, the Moreys sold the company to their trusted employees, rather than accepting two offers to sell from private firms.
“The Moreys are stellar examples of how ingenuity, persistence and dedication pave the way for success in a free-market society,” said Justin Marshall, chief development and engagement officer for Northwood University. “Each car the Morey family donated was part of their family story, and the story now evolves with Northwood University inspiring the dreams of young entrepreneurs from throughout the world.”
At the end of Friday’s auction, Mecum Auctions announced that two of the Morey vehicles were the top two automotive sales of the day.
The 1967 Shelby GT500 Fastback sold for $330,000, and the 1970 Plymouth Hemi Cuda sold for $275,000. The surprise of the day was a 1981 Teledyne Continental Cheetah, selling for $65,000 (which was well beyond its appraised value).
Northwood University said it will utilize up to $1 million of the cash proceeds to enhance the campus experience. The remaining proceeds will be used to build the university’s endowment to create new scholarship opportunities for Northwood students.
The Moreys previously noted they are pleased their classic car collection will help support young men and women who want to work hard, build something of their own, and positively influence the communities they call home.
“Northwood University is a special place, filled with wonderful students, and we are thrilled to support their mission,” they sad.
If you’re interested in supporting the school, visit https://www.northwood.edu/advancement/give.
Dealers are not feeling optimistic as the year finishes.
Dealer sentiment in the fourth quarter dropped to the lowest level since the start of the COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI) released Wednesday.
Cox Automotive reported the current market index is below the threshold of 50, coming in at 43 and indicating that …
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Along with the seventh annual Diversity Volume Leadership Awards (DVL), last week’s annual NAMAD Conference in Miami also included Cox Automotive, in partnership with the National Association of Minority Automobile Dealers (NAMAD), awarding two Rising Star Awards.
The 2022 award recipients were Jarryd Carver, chief executive officer of Winners Circle Automotive Group, headquartered in Hampton, Va., and Michael Lee, dealer principal of Freedom Kia of Morgantown in West Virginia.
Recipients were chosen based on nomination criteria, including being under the age of 45 and a NAMAD member, operating within the automotive industry and demonstrating a strong commitment to their local community and/or minority populations along with contributing to the automotive industry.
Cox Automotive marketing director Sherrie Tanner joined NAMAD president Damon Lester to honor the recipients during an awards dinner at the 42nd annual membership meeting.
Tanner said: “On behalf of Cox Automotive and in partnership with NAMAD, I am honored to recognize Jarryd Carver and Michael Lee as the 2022 Rising Stars. Jarryd and Michael truly exemplify the words ‘rising star’ as well as the core values of Cox and the Cox family — building a better community and a better world.”
Cox Automotive is donating $5,000 to The Sharon Carver Foundation, which was created in 2016 and named after Jarryd Carver’s late aunt, Sharon, who was a victim of the Sept. 11 terrorist attacks.
The foundation honors Sharon Carver’s commitment to mentorship by creating opportunities for underserved communities to afford education and through scholarships for students in need at Hampton University, one of the top historically Black universities in the world, located in Hampton.
On behalf of Lee, Cox Automotive is donating $5,000 to Chestnut Mountain Ranch, a faith-based retreat for boys who are experiencing challenges in life located in Morgantown.
The children live on the ranch’s 225-acre grounds and focus on healing and family reunification. In addition to donations, Chestnut Mountain Ranch is funded by The Ranch Quick Lube, a Valvoline Express Care owned by Chestnut Mountain Ranch, as well as The Ranch Community Store, a high-end thrift store that provides gently used merchandise to the community.
Diversity Volume Leadership Awards
The Seventh Annual Diversity Volume Leadership Awards (DVL) were presented by NAMAD and S&P Global Mobility (formerly IHS Markit). The awards program celebrates brands that are driving sales leadership with ethnic consumers.
Officials said that U.S. Census statistics predict that by the year 2045, ethnic minorities will be the “future majority.”
This year, NAMAD and S&P Global Mobility honored Toyota Motor North America’s RAV4 with the Top Overall Future Majority Award.
“The ‘Future Majority’ reality was echoed throughout this year’s awards ceremony and showcased the tremendous impact ethnic car buyers have on the economy, and brought awareness to the lack of diversity that still remains in the automotive industry,” NAMAD president Damon Lester said.
During the awards program and conference, NAMAD and S&P Global Mobility partnered to celebrate brands that are driving sales leadership with ethnic consumers, while also addressing and educating the industry about the necessity of a dealer body that reflects the United States’ increasingly diverse population.
Winners of the prestigious DVL Awards demonstrated the highest new vehicle registrations with ethnic consumers. This year’s awards were based on an analysis of data from S&P Global Mobility representing the 2022 model year.
“The initial goal of the DVL Awards was to create awareness within the U.S. auto industry of the top vehicles purchased by ethnic consumers,” said Marc Bland, chief diversity officer of S&P Global Mobility.
“But now the game has changed, and the ‘Future Majority’ designation is real. We’re honored to recognize these top models and their respective manufacturers in support of their efforts to reach increasingly diverse consumer groups,” Bland continued.
This year, NAMAD and S&P Global Mobility honored Toyota Motor North America’s RAV4 with the “Top Overall Future Majority Vehicle” DVL Award, one of 11 awards presented to Toyota and Lexus during the program.
Top Overall Ethnic Vehicle is the most sought-after DVL Awards honor for automotive brands dedicated to driving sales leadership with Asian, Native American, Hispanic and African-American car buyers.
Following is the complete list of this year’s DVL Award-winning manufacturers:
NON-LUXURY AWARDEES
Sub-Compact: Nissan Versa
Traditional Compact: Toyota Corolla
Mid-Size: Toyota Camry
Traditional Full-Size: Dodge Charger
Sub-Compact Utility and Utility Plus: Honda HR-V
Compact CUV and SUV: Toyota RAV4
Lower to Upper Mid-Size CUV and SUV: Toyota Highlander
Sport and Mid-Size Sport: Dodge Challenger
Mid-Size Van: Toyota Sienna
Compact to One-Ton Van: Mercedes-Benz Sprinter
Compact to Mid-Size Pickup: Toyota Tacoma
Three-Quarter to One-Ton Pickup Truck: RAM 2500/3500
Half-Ton Pickup Truck: Chevrolet Silverado
Full-Size SUV: Chevrolet Tahoe
LUXURY AWARDEES
Luxury Sub-Compact: Lexus UX
Luxury Compact: BMW 330
Luxury Mid-Size: Lexus ES
Luxury Full-Size: Mercedes-Benz S-Class
Luxury Exotic, Prestige Full-Size and Sport: Chevrolet Corvette
Luxury Sub-Compact CUV: Audi Q3
Luxury Compact CUV: BMW X3
Luxury Mid-Size CUV: Lexus RX
Luxury Mid-Size SUV: Mercedes-Benz GLE
Luxury Full-Size SUV: BMW X7
Top Overall Future Majority Luxury Vehicle: Lexus RX
Top Overall Future Majority Vehicle: Toyota RAV4
Auto Remarketing has added a twist to our 40 Under 40 program.
The program will now feature two separate awards: “Dealers Under 40,” which is sponsored by CARFAX and focuses exclusively on leaders from auto dealerships; as well as a 40 Under 40 for the overall industry, which will focus on the consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space.
The dealer honorees, which will be featured in the upcoming June issue of Auto Remarketing, can be found below:
Mo Abed of Car N Go Auto Sales
Ashley Andrews of Barbour Hendrick Honda
Ryan Boehne of Walser Toyota
Craig Brauer of Lithia & Driveway
Joseph Brunn of CarsMark Sales and Leasing
Melvin Cooper of Watsonville Auto Group
Neely Darr of Vic Bailey Ford Lincoln
Kyle Elder of Street Volkswagen of Amarillo
Derek Griffith of Northeast Auto Imports
Kelly Halpin of Performance Lexus RiverCenter
Khader Hamdallah of Wheels Auto Sales Inc.
Bennett Johnson of Hiester Automotive Group, Inc.
Harry Kasparian of HGregoire & HGreg.com
Constantine Kogan of Cosmo Motors Inc.
Scott Kunes of Kunes Automotive and RV Group
Matthew Leeders of Daystar Auto Group
Tony Lucas of Casa Auto Group
Bruce Lynch of Americas's Car-Mart Inc.
Jordan McDonald of Honda of Princeton
Lindsey Michael-Longo of Capital Auto Group/RideShift
Jeremiah Mowry of Atlanta Auto Brokers, INC.
Kristopher Nielson of Aristocrat Motors Topeka
Hugh Palmer of Beaver Toyota Cumming
Kylie Parks of Vroom
Chad Pennington of Coast to Coast Motors
Evan Raber of Carvana
Kareem Radwan of K&S Alfa Romeo of San Diego
Nei Rodrigues of Sutherlin Nissan Orlando
Alejandro Rojas of Lithia & Driveway
Savannah Simms of Polestar Marin
Dustin Street of Hendrick Honda Easley
Shaun Sumaru of Carsfast
Elisabeth Taylor of iGo Motors
Zac Tekac of Taylor Autogroup
Theo Tuggle of 6th Ave Honda
Christopher Wesney of McCarthy's
More than 100 dealerships have another reason for celebration.
On Monday, Edmunds announced the winners of the 2022 Edmunds Five Star Dealer Awards. This year’s awards honor 94 dealers nationwide for outstanding customer satisfaction ratings, with an additional 18 earning the prestigious Edmunds Five Star Premier Dealer designation.
To qualify for a Five Star Dealer Award, Edmunds said dealers must be actively participating in the Edmunds Dealer Partner program, receive at least 30 sales reviews and earn an average customer sales review rating of at least 4.5 stars on Edmunds during the 2021 calendar year.
To qualify for a Five Star Premier Award, Edmunds indicated dealers must meet all the requirements of a Five Star Dealer Award and also receive at least 150 sales reviews on Edmunds in 2021.
“Historically low inventory levels and other pandemic-related issues have created unprecedented challenges for dealerships across the country, but this year’s Five Star Dealer recipients have done an incredible job of overcoming obstacles and earning the highest level of trust and respect with their customers,” Edmunds president Seth Berkowitz said in a news release.
“Under these unpredictable circumstances, we’re grateful to partner with dealerships that deliver an admirable customer experience and align wholeheartedly with Edmunds’ values,” Berkowitz added.
To find the full list of 2022 winners, go to this website.
Former AutoNation executive and current Maroone USA founder and chief executive officer Mike Maroone is taking home the hardware as the 2022 David F. Mungenast Lifetime Achievement Award winner.
The board of the American International Automobile Dealers Association presents the award each year to “an industry leader who possesses a similar community spirit and devotion to the international nameplate auto industry as its namesake.”
In a news release Thursday, AIADA president and CEO Cody Lusk said: “Mike perfectly embodies the community-minded, forward-thinking spirit of this award.
“The auto retail industry in the United States owes a great deal of thanks to Mike, and dealers like him, who have spent their careers improving the lives of others and raising the bar for how vehicles are sold in the United States,” Lusk said.
Maroone joined the family business (New York- and Florida-based Maroone Auto Group) with his father, Al Maroone, in 1975.
He joined AutoNation in 1997, working there 18 years and serving as president, chief operating officer and director.
He founded Maroone USA in 2017. The group has Chevrolet, Honda, Ford and Volkswagen store throughout Colorado Spring, Colo.; Longmont, Colo.; and West Palm Beach, Fla.
Maroone is a board member of the Cleveland Clinic enterprise board of directors and is the board chair of Cleveland Clinic Florida. The Maroone Cancer Center is also that the latter clinic.
He will be presented the award on March 13 during AIADA’s 52nd Annual Meeting and Luncheon in Las Vegas.
