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JM&A Group rolls out free insider platform for dealers and other clients

The coronavirus pandemic is preventing numerous in-person business meetings and other gatherings. But JM&A Group is still trying to keep its dealers and other clients informed about company developments and other industry trends that might have been shared across boardroom tables or in small get-togethers.

In an effort to further engage automotive professionals and provide valuable content, the firm recently launched JM&A Insider — its own, on-demand collection of automotive resources. This website gives members access to JM&A Group's growing library of free, informative content.

JM&A Group said membership is free and required to register for virtual events.

The company explained JM&A Group Insiders will be invited to view and download information from industry experts at any time through the company’s new online platform. Content will include blog posts, playbooks on dealership growth and profitability and short video tutorials on a variety of topics, including F&I, fixed operations, training and sales and marketing.

“Our goal is to be a trusted resource and partner to the greater automotive community,” said Scott Gunnell, group vice president of business strategy and operational excellence.

“JM&A Insider will continue to grow and evolve as we collaborate with our vast network of industry leaders to add new, prescriptive content and adapt to the needs of our existing members,” Gunnell continued in a news release.

In addition, the company mentioned the complimentary platform will host JM&A Insider Live Office Hours events hosted by leaders from various company divisions, giving members the opportunity to engage with subject matter experts and receive personalized advice for their queries.

JM&A Group highlighted timely automotive industry topics will include Virtual F&I, dealership talent solutions, fixed operations, team development and more.

For more information and to register to become a JM&A Group Insider, visit https://info.jmagroup.com/jma-insider.

Initial details of 2020 NIADA|NABD Virtual Convention and Expo Series

Similar to how other organizations have had to do with their in-person events, the National Independent Automobile Dealers Association is taking its annual showcase to the digital world.

According to an announcement distributed late on Friday, the 2020 NIADA|NABD Convention and Expo is going fully virtual.

Due to ongoing and recent developments in the COVID-19 pandemic, NIADA said its board of directors made the difficult decision to cancel its plans to meet in person at this year’s Convention and Expo at the Wynn Las Vegas and focus on delivering industry education virtually through its digital conference platform at www.niadaconvention.com.

The 2020 NIADA|NABD Virtual Convention and Expo Series will be held on three consecutive Tuesdays — Sept. 22, Sept. 29 and Oct. 6 — and will include all the expert analysis, dealer panels, auto industry leaders and content independent dealers have come to expect throughout the NIADA Convention’s 74-year history.

“The decision was especially difficult because this will be the first year since NIADA was founded in 1946 that we have not had an in-person convention,” NIADA president Henry Mullinax said in a news release.

“Many factors played into this decision, beginning with protecting the health and safety of our attendees and the uncertainty around the continued spread of the COVID-19 virus,” Mullinax continued. “There are simply too many variables at this time to guarantee a positive and healthy outcome of an in-person convention in September.”

Just as previous conventions, the association noted the NIADA|NABD Virtual Convention and Expo Series will include topics for retail dealers, buy-here, pay-here operators, wholesalers, auctions and allied industry partners.

NIADA highlighted the educational content will focus on how the used vehicle industry has changed and responded to the COVID-19 pandemic in three crucial areas: cars, cash and customers.

The education tracks include vehicle acquisition and wholesale market changes, online retailing and contactless transactions, and cash, credit and financial markets.

In addition, NIADA mentioned the event will include a virtual expo hall that will be open during the entire span of the virtual convention, giving dealers 24-hour access for three full weeks to check out the industry’s top vendors — and a chance to schedule virtual appointments with them.

“NIADA wants our valued industry partners to continue the growing success they have come to expect with our annual Convention and Expo,” NIADA chief executive officer Steve Jordan said.

Jordan added NIADA is partnering with its affiliated state associations to promote the event and its content and will be splitting the registration fees with each state that helps promote the platform, so dealers know their financial investment in ongoing education is supporting their state and local associations.

All of NIADA’s awards, including the National Quality Dealer award and the Ring of Honor, will be held over until the 2021 convention, which is scheduled for June at the Wynn Las Vegas.

“NIADA’s commitment to help independent dealers succeed has been at the heart of our association for 74 years,” Jordan said. “The first NIADA|NABD Virtual Convention and Expo Series is our way of honoring that commitment in the face of a global crisis.

“This has been a time of unprecedented change for all of us, and like everyone else, independent dealers have had to find new ways to make their operations work. In order to give them the tools they need to do that, we needed to find a new way to make our convention work,” Jordan went on to say.

CarGurus & RumbleOn now collaborating on dealer inventory pilot program

RumbleOn and CarGurus are working together to provide dealerships with another technology-driven path to secure valuable inventory.

The companies announced last week that CarGurus will leverage RumbleOn’s technology as well as its transportation and distribution services in the testing of a new inventory acquisition product for dealers that can enable dealers to source consumer vehicles on the CarGurus platform.

The latest phase of CarGurus’ inventory acquisition product pilot launched this month in Massachusetts.

“Our proprietary technology suite has underpinned our offering since Day 1,” RumbleOn chief executive officer Marshall Chesrown said in a news release. “We have strong relationships with dealers and our agnostic business model has propelled our rapid expansion in both powersports and automotive.

“We are proud that CarGurus has selected RumbleOn for this pilot, and we are excited to help support their new and innovative solutions for dealers around the world,” Chesrown continued.

“This program not only validates the strength of our technology, but it demonstrates the agility of our business model. We believe there are boundless opportunities ahead of us and this is yet another example of how we are executing on our disruptive strategy,” Chesrown went on to say.

Ryan Russell, head of strategic partnerships for CarGurus Labs, added this perspective.

“We are excited to work with RumbleOn as we continue to build an innovative inventory acquisition solution for our dealers,” Russell said. “As with all of our product development, our ability to rapidly test and learn is critical.

“RumbleOn’s technology and dealer-centric processes will allow us to execute this pilot with speed and flexibility so that we can evolve our product and deliver a best-in-class solution for dealers,” he added.

For more information, visit www.rumbleon.com or www.cargurus.com.

DealerSocket enhances ‘clicks-to-bricks experience’ for dealers with new desking tool

DealerSocket said it reached another milestone in what the SaaS provider described as its “clicks-to-bricks experience” for dealers.

On Monday, DealerSocket released its next-generation desking solution. Sporting more intuitive, easy-to-navigate workflows designed to prevent errors and reduce time to first pencil, DealerSocket highlighted the all-new desking tool comes equipped with a robust calculations engine, flexible payment options, custom presentation capabilities and seamlessly integrates with DealerSocket’s PrecisePrice digital retail solution.

The sleek new interface, which has been architected within DealerSocket’s award-winning CRM, can give the new desking tool a uniform user experience with other DealerSocket solutions. DealerSocket contends the solution can open up a host of new opportunities to modernize a dealer’s road-to-the-sale process and can enhance save-a-deal and data-mining activities, CRM-generated campaigns and remote deal-making.

“There are several important storylines captured in this exciting launch of desking. For DealerSocket, our next-gen desking solution represents another critical step as we unify our suite of integrated solutions,” DealerSocket executive vice president and general manager of retail solutions Darren Harris said in a news release.

“Then there’s what the tool can do for dealers from a clicks-to-bricks perspective. Yes, our new desking solution allows dealers to reimagine their buying journey, but it also puts them in total control of just how far they want to go,” Harris continued.

The company went on to mention the main advantage of DealerSocket’s new desking tool is that it operates within the CRM as an in-app program, allowing dealers to seamlessly move between desking and throughout the CRM to update a sales opportunity’s vehicle of interest, follow up with appointments, or send communications.

That deep integration within DealerSocket’s CRM also means no pop-up windows for desking and an efficient and easy process that begins with a single click on a sales opportunity to start desking a deal, according to the company.

Once engaged, DealerSocket explained the desking tool can display a calculations worksheet, customer details and payment options on one screen. The latter views are collapsible when structuring deals using the calculations worksheet, which eliminates the need for mental math with smart fields within desking that can calculate dollar value increases or decreases in MSRP, selling price, cash down, and rebates.

Users can then compare and present a variety of lease and finance options with different cash-down amounts, term lengths, and APRs, as well as view and adjust other deal influencers like doc fee, buy rate, and gross.

Dealers can also take advantage of the following innovations:

• Deal history: Allows managers to desk multiple deals for a single customer without losing their work.

• Integrated incentives: Locate and attach factory rates and rebates to a deal to meet a buyer’s desired monthly payment.

• Personalized presentation: Allows dealers to customize which options to present to the customer and how.

“Especially in the digital environment, dealers need a platform that allows data to flow across a single ecosystem, and allows users to easily navigate software tools and features seamlessly,” DealerSocket chief product and technology officer Alok Tyagi said.

“Today’s release of our next-generation Desking tool represents another significant step toward delivering a simplified experience to our dealers, who now have a tool that allows them to create new opportunities,” Tyagi went on to say.

For more information, visit DealerSocket.com.

Sneak preview of Leading Franchised Dealers issue

In this special sneak preview of the upcoming Leading Independent & Franchised Dealers issue of Auto Remarketing, we share the Top 25 Franchised Dealers Based on 2019 DealerRater reviews, as well as the Top 25 Used-Car Models Among Franchised Dealers, courtesy of Cross-Sell Interactive.

This preview is available for CMG Premium members before the digitial edition of the magazine is released.

Starting with the dealer rankings, DealerRater compiled the list using the same PowerScore algorithm that it uses in its annual Dealer of the Year and Consumer Satisfaction Awards.

A full explanation of those awards is available at https://www.dealerrater.com/dealers/awards/.

The list is sorted alphabetically and can be found below:

SOURCE: DealerRater

The Top 25 Used-Car Models Among Franchised Dealers is courtesy of Cross-Sell Interactive. The rankings are based on full-year 2019 used-vehicle sales among franchised dealers. It includes data from the 25 states in which Cross-Sell receives vehicle registration data from state departments of motor vehicles.

California only provides data on the six most-recent model years for used-vehicles. More information about Cross-Sell can be found at https://www.cross-sell.com. Stay tuned to the June print edition of Auto Remarketing for the state-by-state rankings. The aforementioned national rankings can be found below.

SOURCE: Cross-Sell Interactive

Sneak preview of Leading Independent Dealers issue

In this special sneak preview of the upcoming Leading Independent & Franchised Dealers issue of Auto Remarketing, we share the Top 25 Independent Dealers Based on 2019 DealerRater reviews, as well as the Top 25 Used-Car Models Among Independent Dealers, courtesy of Cross-Sell Interactive.

This preview is available for CMG Premium members before the digital edition of the magazine is released.

Starting with the dealer rankings, DealerRater compiled the list using the same PowerScore algorithm that it uses in its annual Dealer of the Year and Consumer Satisfaction Awards.

A full explanation of those awards is available at https://www.dealerrater.com/dealers/awards/.

The list is sorted alphabetically and can be found below:

SOURCE: DealerRater

The Top 25 Used-Car Models Among Independent Dealers is courtesy of Cross-Sell Interactive. The rankings are based on full-year 2019 used-vehicle sales among independent dealers. It includes data from the 25 states in which Cross-Sell receives vehicle registration data from state departments of motor vehicles.

California only provides data on the six most-recent model years for used-vehicles. More information about Cross-Sell can be found at https://www.cross-sell.com. Stay tuned to the June print edition of Auto Remarketing for the state-by-state rankings. The aforementioned national rankings can be found below.

SOURCE: Cross-Sell Interactive

NADA Show 2020 roundup: New chair’s clear message & results of KAR’s charity auction

By now, the elaborate exhibit hall booths have been deconstructed, and many NADA Show 2020 attendees have taken cars and airplanes back to their dealerships and offices after traveling for the annual gathering of the National Automobile Dealers Association.

NADA 2020 chairman Rhett Ricart offered a simple message with the intention of it lasting much longer than the three-day event.

Ricart’s declaration to franchised dealerships: “You’ll be just fine.” Ricart elaborated on that point Monday as he took the reins of NADA.

“Actually, we’re going to be more than just fine,” Ricart said in a news release. “There’s something to be said of auto dealers that went through wars, recessions, depressions, oil embargoes, global economic meltdowns, OEM bankruptcies, and are still upright, standing tall and stronger than ever.

“I see our success every day in our packed service departments, where we’re working to staff the best technicians, and where customers come for warranty, recall and maintenance work,” Ricart continued. “And that will only continue. Because if you think it’s going to be easy fixing an all-electric or fully autonomous car without a tried and true service department network to back you up, you’re in a dream world.”

“NADA is here to build and protect your business, like my own 67-year-old family business in Columbus, Ohio,” Ricart went on to say. “And we are gunning our accelerator into this modern world, with an eye on advocacy, education and compassion.”

Ricart president and chief executive officer of Ricart Automotive Group also offered an equally powerful message to the rest of the auto industry, particularly newer entrants and those that have been billed as “disruptors.”

“The new players in the game aren’t ‘disruptors.’ They’re just new,” Ricart said. “The beauty of our business is that we thrive on disruption. When you think about it, dealers make their living by confronting, understanding and ultimately harnessing disruption.”

“For over 100 years, we have been turning disruption into dollars. And along the way we have shaped how Americans drive, how they travel and how they live their daily lives. And in 2020, we’re going to keep doing it,” Ricart continued. “We will meet disruption at the door. And no matter what its name is, we will answer.

“In this new decade, we will bring our customers the option to step into an electric vehicle, a gas-powered vehicle, and further in the future, we’ll even give them a driverless car,” he went on to say. “Dealers are constantly re-inventing themselves, and constantly defying the odds. Sure, there are complications out there. We know what they are, but NADA is doing something about them every day.

“The disruption will come and go. The constant is you and me, the dealers. We’re the ones who build relationships with our customers every day, mastering our markets, advancing our technology, and improving our communities. We always have, and we always will,” Ricart added.

Final message from outgoing chair

In his outgoing remarks as 2019 NADA chairman, Charlie Gilchrist thanked franchised dealers for heeding the call to become involved in NADA, saying it was instrumental to many successful initiatives throughout the year.

“Last January, I challenged all of you not to be just a part of NADA, not to be just a member of NADA, but as we faced the challenges of the coming year, that we would do this together as a team,” Gilchrist said during his Saturday keynote address at the 2020 NADA Show in Las Vegas.

From combatting the threat of broad-based auto tariffs, to working to keep new vehicles affordable while preserving the sustainability of new-car departments, to addressing the technician shortage, Gilchrist reminded dealers attending the event of the many issues that NADA confronted — on behalf of, and hand-in-hand with — franchised dealers across the United States.

“Our identity as auto dealers is unique,” Gilchrist said, according to a news release. “It means fighting for our franchise system. It means holding our ground when Washington threatens our stability, so our employees and customers have security tomorrow. And it means doing it together, because one dealer can accomplish some things, but many dealers together can accomplish anything.”

Gilchrist — president of Gilchrist Automotive, which includes Buick-Chevrolet-GMC, Chrysler-Dodge-Jeep-Ram, Ford, Nissan and Volkswagen franchises the Dallas-Fort Worth area of Texas — urged dealers to stay vigilant but also to prepare for a bright future for years to come.

“Every dealer has a tremendously bright future ahead,” Gilchrist said. “Don’t let others define who you are. Hold strong to your identity.

“Our industry is going through an evolution, not a revolution. There will be a wave of change, but we’ll adapt to it, and we’ll be stronger than ever,” he continued. “Despite so-called disruptions to the dealer network, and myths about mobility, we are holding strong. In 2019 we sold 17.1 million new cars and light trucks. There are over 278 million registered vehicles on America’s roads today, and that number is only growing.

“Lightning-fast technology will continue to change vehicles for years to come. But customers are still buying and owning their cars and trucks. And they’re still going to their local auto dealer to get them,” Gilchrist went on to say.

“It is clear,” he added. “If you are an auto dealer, if you work in a dealership, our imprint on America is unmistakable, our contributions are undeniable, and our potential is immeasurable. We are the auto dealers of America, and we are NADA.”

KAR Global auction raises $97,487 for NADA Foundation

For attendees who have affinity for dogs, spending a few moments at the KAR Global booth presents the chance to see some great-looking canines who serve in crucial roles.

KAR Global auctioned a VIP, all-access package to attend the 104th running of the Indianapolis 500, raising more than $10,000 for the NADA Foundation’s initiative to benefit Canine Companions for Independence (CCI). Additional auction proceeds and donations raised more than $97,000 in one day.

Ben Chavez, an Army veteran and retired police sergeant, and his hearing dog, Nepal, from Tehachapi, Calif., along with six dogs and their graduates, trainers and volunteers from Canine Companions attended the auction, which was conducted by KAR Global.

Officials explained in a news release that proceeds from the auction will benefit the NADA Foundation’s Frank E. McCarthy Memorial Program, which supports CCI.

McCarthy was NADA’s chief executive from 1968 to 2001. To date, the KAR Global auctions have raised more than $586,500.

“In this ninth year of partnering with the NADA Foundation and Canine Companions for Independence, TradeRev, ADESA and the entire KAR Global family of brands remain as committed as ever to ensuring that people with disabilities can live independent lives,” KAR Global president Peter Kelly said.

“It’s because of the generous dealers who join us in outbidding each other year after year that we have been able to raise tens of thousands of dollars to provide the funding needed to train these highly skilled dogs that enhance the lives of people with disabilities,” Kelly added.

The winning bidder was Beth Hakes of Industry, Calif., who will spend Memorial Day weekend at the “Greatest Spectacle in Racing,” the 104th running of the Indianapolis 500. The Epic Experience package includes the VIP treatment to watch the race from “Turn One” seats, as well as airfare and luxury accommodations in downtown Indianapolis.

Since 2002, NADA Foundation’s Frank E. McCarthy Program has contributed nearly $800,000 to CCI, placing skilled service dogs with children with disabilities and wounded veterans.

NADA gives another $50,000 to benefit Nellis Air Force Base

Also in conjunction with the 2020 NADA Show in Las Vegas, NADA made a $50,000 donation to the Nellis Support Team, a nonprofit organization whose broad mission includes supporting more than 30,000 airmen and their families at Nellis Air Force Base, Creech Air Force Base and Nevada Test and Training Range in southern Nevada.

Officials highlighted the donation is the second from NADA to the Nellis Support Team. NADA noted funds from its first donation in 2018 made reopening the base’s Auto Skills Center a reality, allowing the airmen and their families who call Nellis home with an opportunity to repair their vehicles independently.

“The brave men and women at Nellis Air Force Base protect and serve our country and I am so pleased we can serve them,” Gilchrist said. “I am honored today to meet with the airmen at Nellis and tour this wonderful Auto Skills Shop.”

The funds of the donation may be used to purchase additional tools and equipment including three drive on auto lifts and a new wheel alignment/changer.

Louisiana operator named 2020 TIME Dealer of the Year

Among the many festivities this past weekend during the 103rd National Automobile Dealers Association (NADA) Show in Las Vegas was awarding of one of the highest honors a franchised store operator can receive.

Susan Moffitt of Porsche in Shreveport, La., was named the 2020 TIME Dealer of the Year by TIME and Ally Financial.

Moffitt was chosen from a field of 49 dealer nominees who were selected from nearly 17,000 franchised dealers across the country. One of the most prestigious honors for dealers, the TIME Dealer of the Year Award recognizes leaders who have succeeded in business and go above and beyond in their efforts to give back to the community.

Doug Timmerman, president of Ally Auto Finance, and Susanna Schrobsdorff, executive editor and chief partnerships officer of TIME, announced Moffitt as the winner at a ceremony where all the dealer nominees were honored.

“Everyone nominated for the TIME Dealer of the Year Award deserves recognition for their selfless dedication not just to their businesses, but to the communities that support them,” Timmerman said.

“It’s my pleasure to recognize Susan for her outstanding work, and to thank all the incredible dealers across the country who put giving back at the center of their careers,” Timmerman continued.

In addition to Moffitt, four dealer nominees were recognized as Dealer of the Year finalists, including:

—David Kelleher, David Dodge Chrysler Jeep Ram, Glen Mills, Pa.

—Natalie Tindol, Tindol Ford Roush, Gastonia, N.C.

—David Cuene, Broadway Automotive, Green Bay, Wis.

—Diana Pfeiffer, Alaska Sales and Service, Anchorage, Alaska

As exclusive sponsor of the TIME Dealer of the Year Award, Ally will give $10,000 to the charity of Moffitt’s choice. Ally also will donate $5,000 to each of the nonprofit organizations selected by the four finalists and Will Green, president of the Louisiana Automobile Dealers Association, who nominated Moffitt for the award.

In recognition of their achievements and generosity, Ally also gave $1,000 to the charities of choice for each of 49 nominees. For more information on each of the nominees, visit www.AllyDealerHeroes.com.

Moffitt earned degrees in business administration and finance at Louisiana Tech University in Ruston, La., in 1983 and 1984 before joining the Bossier City, La. dealership founded by her father, Fred. After college, Moffitt was the dealership’s cashier and telephone operator, and also worked in the service department. She later switched to sales where she excelled and found her niche.

Today, she shares ownership of Moffitt Automotive with her two brothers and sister. The group oversees dealerships in Bossier City and Shreveport, representing the Audi, Mazda, Porsche and Volkswagen brands.

Moffitt continues her father’s legacy of giving back by spearheading numerous charitable initiatives. She is a lifetime sponsor of the Louisiana State University (LSU) Health Foundation and LSU Health Shreveport and served as chair of An Evening for Healers in 2017, a fundraiser for the medical and research center.

Moffitt is also proud of her association with St. Jude Children’s Research Hospital. For the past four years, Moffitt Automotive has donated a car to the hospital’s fundraising initiative, the St. Jude Dream Home Giveaway.

Other groups that Moffitt supports include:

—Catholic Charities
—Shriners Hospitals for Children
—Betty & Leonard Phillips Deaf Action Center in Shreveport
—Shreveport-Bossier Military Affairs Council (liaison between the civilian/business community and the commanders of Barksdale Air Force Base in Bossier Parish)
—Barksdale Air Force Base (Bossier Parish)
—Special Olympics
—Volunteers of America North Louisiana
—Shreveport Symphony Guild
—Boy Scouts of America Norwela Council
—Holy Angels residential care and programs for individuals with intellectual and developmental disabilities in Shreveport

Officials recapped the TIME Dealer of the Year winner and finalists were chosen by a faculty panel from the Tauber Institute for Global Operations at the University of Michigan. Dealers are nominated for the award by state and regional automotive trade association executives.

Timbrook Automotive expands group with Pennsylvania Honda store

Timbrook Automotive recently expanded its dealership group with Kerrigan Advisors playing a part in the transaction; the firm’s 85th dealership sale and 11th Honda franchise sale since 2015.

Kerrigan Advisors represented and advised partners Bill Barnes and Paul Ritchie on their recent sale of Altoona Honda to Timbrook Automotive, which has 11 dealerships throughout Maryland, Virginia and West Virginia.

“Altoona Honda has always been an integral part of the community here in Blair County,” Barnes said in a news release. “When we purchased the dealership in 2013, our aim was to respect and continue the values established in 1972, when the store opened.

“We went into this transaction with the same mindset. Kerrigan Advisors helped us achieve a transaction reflective of that wish, with ethical and professional representation and by identifying a buyer who shared our same values,” Barnes continued.

Altoona Honda’s long record of success includes winning the Honda President’s Award for three consecutive years. The award recognizes Honda dealerships that achieve excellence in all aspects of sales and service operations.

“Altoona Honda has always exhibited the highest levels of excellence and is a pillar of the community. We knew how very important this decision was to Bill and Paul and were honored to represent them in the sale,” said Erin Kerrigan, managing director of Kerrigan Advisors.

“Our experience through 10 previous Honda transactions helped inform this process, ensuring that we identified a buyer who not only understood Altoona Honda’s legacy of quality and service, but one that would carry on that legacy, while living up to the values of the Honda brand,” Kerrigan continued.

Barnes and Ritchie will continue to own and operate Hagerstown Honda and Hagerstown Kia dealerships. The partners shared the sale to Timbrook Automotive enables them to focus on their Hagerstown dealership operations, while ensuring that Altoona Honda continues to thrive.

“When it was time to find a buyer for Altoona Honda, we wanted an advisor that had plenty of Honda experience, as well as one who understood the integral role Altoona plays in this community,” Barnes said. “The wisdom, business acuity and sensitivity that Kerrigan Advisors displayed in previous Honda dealership transactions convinced me that they were the right partners for us. And we were not wrong.

“The Kerrigan Advisors team did an excellent job representing the dealership in a successful sale,” he continued. “I could not be more pleased.”

Kerrigan Advisors vice president Gabe Robleto added, “Honda is known for its strong throughput, and very consistent dealership profitability and is highly sought after by today’s buyers. Our experience with other Honda transactions meant we knew how to value the franchise and what to look for in a potential buyer.

“With Timbrook as the new owner, we are confident Altoona Honda will continue to compete for President’s Awards and service the greater Altoona community long into the future,” Robleto went on to say.

Michael Charapp of Charapp & Weiss LLP served as legal counsel to the seller. Wayne Heavener of Skidmore & Alderson served as legal counsel to the buyer.

Lane watch: Spring-market atmosphere intensifies

While it still might be a mixed bag for some dealerships on the retail front as we approach the midpoint of February, Black Book already is seeing managers pad their inventories to be ready when customer activities warm up like the thermometer reading.

According to the latest installment of the Black Book Market Insights report, car values moved counter to what they had done in both December and January, triggering Black Book executive vice president of operations Anil Goyal to make this assertion.

“It looks like the spring buying is already in full swing,” Goyal said. “Dealers are bidding up prices on car segments with even the sporty cars getting an early interest.”

The latest report indicated that based on volume-weighted information, overall car segment values increased by 0.04% to start the month of February. In January, analysts noticed that values averaged a decline of 0.21%. The December average decline was even higher at 0.78%.

Among cars, Black Book mentioned the midsize segment appreciated for a fourth week in a row.

Over with trucks, analysts said their volume-weighted data showed that overall truck segment values (including pickups, SUVs, and vans) decreased by 0.19% last week. That’s nearly the same as the four-week average, which was 0.18%.

Looking deeper at trucks, analysts determined values of subcompact crossovers continued on an upward pattern, increasing three out of the last four weeks.  

Beyond the data, Black Book’s representatives stationed in the at nearly 60 sales nationwide provided a more vivid glimpse at what dealers are encountering — both trying to secure inventory and retailing vehicles. Here is the rundown:

— From Indiana: “The market seems stable. One dealer commented that his retail was pretty good, but he is challenged by the quality of the trade-ins he is receiving.”

— From Massachusetts: “The dealer lanes enjoyed good activity today, which brought a welcome change. The money was strong for commercial accounts, as well.”

— From Wisconsin: “Dealers are reporting that their showrooms are very quiet which is not abnormal for early February in Wisconsin. We had a lot of no-sales as sellers raised their floors, knowing that dealers are trying to build inventory.”