When it comes to repeat business for automotive makes and models, customer loyalty associated with the certified pre-owned vehicle market significantly outperforms those associated with traditional used-vehicle offerings. However, dealers who want to push the CPO product are challenged by a lack of consumer awareness.
New data from J.D. Power shows that, on average, buyers of mainstream CPO cars traded in vehicles for the same nameplate 35 percent of the time in Q3 2018. This contrasts with buyers of non-certified mainstream used vehicles, who traded in their vehicles for the same make/model 30 percent of the time.
Put another way, CPO buyer brand loyalty is stronger than it is for the typical used vehicle buyer. Keeping more consumers in the brand fold is critical to the fortunes of automakers and the dealers who represent them. Also, the current owners of CPO vehicles exhibited greater willingness to buy a CPO vehicle in the future compared to the current owners of the used or new vehicles.
Consumers purchased more than 2.6 million CPO vehicles in 2017, according to the Automotive News Data Center. Through the first 11 months of 2018, total CPO sales in the U.S. rose 2.2 percent with sales specifically fueled by off-lease vehicles.
At J.D. Power, we conduct these surveys on a regular cadence to assess:
— Consumer awareness of CPO programs;
— Future CPO purchase considerations; and to
— Understand the premiums that customers are willing to pay for the perceived benefits associated with CPO vehicles.
We also found that 39 percent of respondents indicated a willingness to pay a premium of up to $1,000 for a CPO vehicle. Another 30 percent of our respondents reported that they would be happy to invest over $1,000 more for the privilege of owning a CPO vehicle.
Auto industry needs to raise awareness of CPO programs
That said, there is clear room for improvement to further optimize CPO performance. One of the clear opportunities, unveiled by our most recent results, revolves around the low level of awareness of CPO programs and their benefits. Many important demographic sectors do not even know these programs exist.
Around 65 percent of consumers told us in the survey process that they are not familiar with manufacturer certified pre-owned initiatives, with lowest awareness levels reported by our youngest respondents. (In this context, it is also interesting to note that younger consumers exhibited a greater motivation to cross-shop all vehicle types — a further indication of low brand loyalty in an increasingly important segment of the consumer base.)
This highlights an imperative to learn much more about younger buyers, and to develop targeted education initiatives about the various benefits of CPO offerings for this segment. It will play a critical role in influencing the future buying patterns of a new generation, and inform dealers and OEMs on how best to connect with this age group.
Specific actions that J.D. Power believes will contribute to helping dealers optimize CPO offerings include:
— Separating CPO and non-CPO vehicles on lots and in merchandising programs
— Ensuring that sales staffs are up to date on CPO program details and are equipped to share this information with customers
— Highlighting the maintenance plans and programs that accompany CPO vehicle initiatives
On this latter point, our survey found that almost half of respondents considered the extended warranty that accompanies a CPO vehicle to be the most important factor in the buying process. It helped to significantly differentiate CPO offerings from conventional used vehicles. This, of course, is because future maintenance is a top-of-mind concern for buyers of used vehicles.
To get a full perspective on how CPO vehicles are going to market, and to access the J.D. Power perspective on how consumers are responding to offerings in the market, visit: https://www.jdpower.com/Cars/Certified-Pre-Owned.
Maya Ivanova is a senior quantitative researcher at J.D. Power. Auto Remarketing also recorded a podcast with Maya to discuss this column on CPO trends. That episode can be found below.
A New York City-based online dealership now can help its customers with dings, dents and other unsightly ramifications from crashes and mishaps.
Signature Auto Group this week announced it will now be administering full services through its body shop partner, Auto Group Collision.
Through the new arrangement, Auto Group Collision will now be able to offer its clients everything from starting their lease, to helping with lease returns, as well as any accident issues.
“We are always looking for new ways to extend our collision repair offerings and services, which is why we are so excited to be adding on the premiere services available through partner Signature Auto Group,” said Dennis Roitman, of Auto Group Collision. “We want everyone to know they can now handle everything from lease negotiations and policies, to accidental problems, right on our platform.”
Auto Group Collision is a full-service collision repair facility that aims to repair vehicles back to the pre-loss condition, including limited lifetime warranties.
“After 12 years in business providing lease support and consultative feedback to everyone in the greater New York City region, we are always looking for new ways to extend our proprietary services,” said Vladimir Shpigelman, founder and chief executive officer of Signature Auto Group.
“We thank Auto Group Collision for this extended arrangement, and can’t wait to support even more hard-working people with the leasing repair and assistance they deserve,” Shpigelman added.
For more information about Auto Group Collision, visit www.autogroupcollision.com.
For more information about Signature Auto Group, visit signatureautoworld.com.
Before the holidays arrived and political strife caused another federal government shutdown, Kerrigan Advisors released its third quarter report that highlighted dealership buy/sell transactions increased 20 percent year-over-year.
The Blue Sky Report generated by the firm also pointed out that 2018 will be the fifth consecutive year of more than 200 buy/sells transactions and among the most — if not the most — active years for buy/sells on record.
Kerrigan Advisors explained that the underlying catalyst for the robust buy/sell market is the growing U.S. economy. The firm mentioned the average dealership has achieved record sales during the last 12 months.
But Kerrigan Advisors also acknowledged potential future challenges to the economy and auto retail are also impacting the market, driving sellers who are concerned that today’s high valuations may not last into the next year.
The firm then stated these factors, combined with increasing consolidation that promises stiffer competition for smaller players, an increase in generational transfers, and a growing pool of investors, has set the stage for today’s robust buy/sell market.
“With rising interest rates and the changes coming to auto retail, we find sellers more motivated today, concerned that current valuations may not replicate in the future,” said Erin Kerrigan, managing director of Kerrigan Advisors. “And many of these sellers are willing to accept creative transaction structures as part of their exit in order to achieve their valuation goals, a new industry trend and one we expect to continue into 2019.”
Ryan Kerrigan, managing director of Kerrigan Advisors, added, “Capital markets are attracted to the sustainability and resilience of the dealership business model, even in the face of a more volatile stock market. These investors believe in the business case for consolidation, particularly as technology becomes an increasingly critical part of retailing and scale improves profitability.”
The firm noted another force contributing to an active buy/sell market is the generational shift occurring within the dealer body.
Kerrigan Advisors indicated much of auto retail is family-owned with most dealers being second generation or greater. The report noted that an estimated 50 percent of dealers are currently in the process of transitioning generations — something many will find challenging, particularly since the odds are stacked against them. The firm believes only 12 percent of family businesses make it to the third generation and only 3 percent to the fourth.
The report also determined that the domestics’ share of the buy/sell market increased in Q3 and will dominate the buy/sell market in 2019 due to their low blue sky multiples.
In addition, Kerrigan Advisors went on to mention high real estate values are, and will continue to be, a value driver of most buy/sell transactions. Millennials also have a key role to play in future valuations: according to the report, franchises with meaningful millennial market share are well positioned for future higher valuations.
The report’s bullish view of the market, however, is tempered by some concerns over the potential impact of higher interest rates and proposed tariffs.
“High import tariffs should be of great concern to auto dealers as they will have a negative impact on auto sales and franchise values,” Erin Kerrigan said. “Buyers will be unwilling to pay current blue sky multiples as earnings growth prospects turn negative. We can see no positive outcome from auto tariffs and encourage all industry participants to employ their political capital to ensure these tariffs are not implemented.”
Other highlights from the Q3 Blue Sky Report include:
— 179 dealership buy/sell transactions were completed in the first nine months of 2018, according to Kerrigan Advisors’ research and The Banks Report. This compares to 149 transactions in the first nine months of 2017.
— Year to date, domestics’ share of the buy/sell market increased to 52 percent, up 68 percent from 2015.
— The publics acquisition spending, year-to-date, declined 24 percent compared to 2017, although they are on track to spend $802 million on US dealership acquisitions, which would be the third highest year since the recession.
— While the number of smaller dealership groups shrinks, the number of larger dealership groups (greater than nine dealerships) has grown 50 percent since 2012.
— Private dealership groups continue to represent the largest share of dealership acquirers and are expected to do so for the foreseeable future. Of the estimated 296 franchises which changed hands in the first nine months of the year, 271 were acquired by existing private dealers and new private capital entrants to the market.
— Non-luxury and luxury import franchises saw their market share decline.
— Transaction pricing when including real estate remained at record levels through the third quarter of 2018, though average blue sky is down an estimated 10.3 percent from its 2015 peak. This decline in blue sky value is offset by the increase in real estate value.
The report also identifies three trends that are expected to impact the industry into the new year, including:
— Generational transfers increase the number of sellers coming to market.
— A growing pool of financial investors support consolidation and innovation.
— To achieve pricing goals, sellers increasingly accept structured transactions.
To download the entire report, go to this website.
In a quarter that showed a “notable negative turn in overall dealer sentiment,” even the used-car side of the dealership is seeing a bit less optimism these days, according to the Q4 2018 Cox Automotive Dealer Sentiment Index released this week.
“The fourth quarter represented a notable negative turn in overall dealer sentiment and their outlook for the future,” Cox Automotive chief economist Jonathan Smoke said in a news release. “The big negative swing in expectations that was significantly lower than last quarter and the same time last year is especially alarming.”
Not only did the overall current market index fall from 51 to in the third quarter to 44 in the third quarter, one metric marked a first in the report’s history: expectations for the next quarter were in negative territory (49). That reading means “dealer expecting conditions to be weak in the future outnumber those who think conditions will be strong,” the company in the report.
Overall dealer sentiment has been on what Cox Automotive described as a “roller coaster year.” What once was an optimistic dealer body has grown pessimistic, the company said.
“Slowing customer traffic, growing pressure to reduce prices, and declining profitability aligned with a view of the market that retreated from strong to weak in the aggregate index,” Smoke said. “Dealers remain worried about the negative impact of proposed tariffs leading to higher prices, but they are also now seeing a less robust used-vehicle market, which is also notably weaker than last year.”
Used-car metrics
As far as the metrics specific to pre-owned, dealers were asked to describe the current used-car sales environment. The index reading for franchised dealers was 68, compared to 72 in the third quarter and 67 a year ago.
For independents, it was 46, down from 52 in Q3 and 51 in Q4 2017.
The overall score was 51, compared to 55 in Q4 2017 and 57 last quarter.
Asked to describe current used-car inventory levels, franchised dealers were at 54, down from 55 a year ago and up from 52 in Q3.
Independents were at 46, even with the previous quarter and down from 53 a year ago.
The overall score of 48 was even with Q3 and down from 53 a year ago.
Tariff impacts
Drilling down into an economic issue, dealers were also asked this one and given a list of choices: “What, if any, positive impacts would imposing tariffs on imported vehicles and parts have on your business? Please select all that apply.”
Forty-six percent thought there would be increased traffic for used vehicles, compared to 44 percent who said the same in Q3.
Thirty-six percent thought there would be an increased margin on all used vehicles as the market adjusts, compared to 27 percent who felt that way last quarter.
As far as negative impacts, 61 percent thought it would lead to higher prices on all used vehicles, against 60 percent in Q3.
Twenty-eight percent thought it would lead to lower (or delayed) used-vehicle sales, versus 23 percent who said the same in Q3.
In terms of overall impact of import tariffs on cars/parts (should they be imposed) to their profitability next quarter, 10 percent of dealers thought it would have a positive impact, 51 percent forecasted no impact and 39 percent said it would be negative.
Along with analyzing how dealership values are changing, one transaction involving the Ken Garff Automotive Group highlighted the Q3 edition of The Haig Report released this week by Haig Partners.
The report indicated the number of private dealerships that sold in the U.S. increased 26 percent year-over-year, rising from 84 to 106.
In one large transaction, the firm recounted the Ken Garff Automotive Group purchased full ownership of 28 dealerships from an affiliated entity that drove much of this increase.
Excluding this transaction, Haig Partners noted that the number of dealerships sold in Q3 decreased 7 percent year-over-year. Meanwhile, the report showed the number of dealerships sold during the first three quarters of this year jumped 24 percent compared to the same span in 2017.
Haig Partners added that acquisition spending in the first three quarters of 2018 by publicly traded auto retailers decreased 33 percent compared to the same period in 2017.
The report goes on to mention profits at privately owned dealerships during the past 12 months through September came in 2.6 percent lower than for the full year 2017, mostly due to rising costs.
Haig Partners lowered the estimated blue sky multiple ranges for 12 of the 22 franchises that it covers by 0.25 times-0.5 times to reflect lower offers from buyers.
The firm explained the reduction in blue sky multiples is a result of several factors, including falling profits, an increase in the number of dealerships available for purchase, and the potential of rising interest rates which could reduce investment returns.
When lower profits per dealership are combined with reduced blue sky multiples, Haig Partners estimated the value of a privately owned dealership fell 4.6 percent from year end 2017 to Q3 2018.
Other key findings from the Q3 2018 Haig Report include:
—Macroeconomic indicators such as GDP, employment, number of miles driven and consumer sentiment remain highly favorable for dealers.
—Other trends such as higher interest rates, higher average monthly car payments and declining dealership profits are hurting dealers.
—Private dealers are increasing their focus on used vehicles with volume up 4.4 percent through three quarters, even as new-vehicle sales are declining.
—Fleet sales are up 9.3 percent through three quarters, but retail sales were down 2.2 percent.
—Declines in new and used gross profits per vehicle are being offset by gains in F&I and fixed operations.
—Floorplan interest expense has swung from a credit of $119 per vehicle in 2015 to an expense of $58 so far in 2018.
—Total sales and gross profits continue to increase at dealerships, but expenses are rising faster leading to earnings declines at many public and private dealers.
—The average dealership pre-tax profit for the 12-month period that ended in Q3 was $1.36 million, down 2.6 percent from the close of 2017.
—Average estimated blue sky value per dealership dipped 4.6 percent in Q3 to $6.6 million compared to $6.9 million at the end of 2017.
—Potential threats from autonomous cars, ride sharing, and electrification have not yet had a measurable impact on dealership values, but dealers are increasingly thinking about these risks.
The firm added that more dealers are coming to the realization that scale will matter more in the future. They are preparing to “get big or get out,” according to the firm.
“The third quarter buy-sell activity was healthy but leveled out from the huge uptick we saw in the second quarter,” said Alan Haig, president of Haig Partners. “Auto retail continues to deliver attractive returns for dealers, particularly after the new tax code went into effect.
“Lenders are also bullish and we see them providing generous credit terms for most acquisitions,” Haig continued. “That said, there are many businesses for sale right now, and buyers are increasingly focused on the risks of higher interest rates in the future.
“As a result of having more choices and being more cautious, buyers are less aggressive than in prior years and they are reducing the multiple of earnings they are willing to pay for dealerships,” he added.
“Sellers with realistic expectations can still exit the industry with healthy valuations, but those who seek premium prices will likely sit unless they are located in booming markets like Texas and Florida,” Haig went on to say.
The Haig Report is published each quarter. Included in each edition are Haig Partners' blue sky multiples that can serve as a gauge for franchise values. To download the report, go to this website.
The AutoSource group of branded title vehicle dealerships announced its new chief executive officer late last week.
The company’s board of directors named former Santander Consumer, QCSA Direct and ADESA Impact executive Bradley Walsh to the CEO post, a move that was effective Oct. 15.
“It has been a tremendous honor to serve as founder and CEO of AutoSource. I am incredibly proud of everything our team has accomplished in the past 13 years,” AutoSource founder Luke Kjar said in a news release. “We have made substantial progress toward our company’s top initiatives.
“Since we started AutoSource, our focus on our most valuable assets, our employees and our customers, has allowed us to grow into an industry leader in the branded title space,” Kjar said. “I am very proud of what we have built, am excited about our future and look to Brad to help us continue on our successful path.”
Kjar will remain on AutoSource’s board and work with the company on strategic initiatives and market development.
AutoSource chairman Rob Wagman said: “Brad has been part of this industry for many years, and we are delighted to have him join the team. His experience within the automotive space between financing, salvage and dealer operations will help AutoSource exceed the goals we have set forth. I look forward to working closely with Brad while he helps set the direction of the company.”
As for Walsh, he was previously Santander Consumer’s senior vice president of asset remarketing. His experience also includes time as executive vice president and chief marketing officer for QCSA Direct, VP of business development at Cross Country Automotive Services and ADESA Impact’s VP of sales and marketing.
“I first want to thank Luke and the board for their confidence in me to manage this company. What Luke and the team have created is amazing, and their preparation for future success is incredible,” Walsh said.
“I am very fortunate to lead such a talented team. The market for specialty and branded title vehicles is growing exponentially, and we are fortunate to lead the way,” he said. “Our model impacts many markets and partnerships across the United States. Because of this, I am confident we will see our dealerships expand outside of our current footprint and provide new opportunities for our customers nationally.”
AutoSource began with one dealership in Woods Cross, Utah. Since its 2005 launch, the company has expanded to include eight locations throughout Utah, Idaho, Colorado and Nevada.
HyreCar and Sansone Jr.’s 66 Automall are collaborating to help consumers with soft credit histories who are looking to drive for programs such as Uber and Lyft.
On Tuesday, HyreCar, the carsharing marketplace for ridesharing, announced that it has launched a free credit repair program for new rideshare drivers in New Jersey and Pennsylvania in conjunction with Sansone Jr.’s 66 Automall, a dealer group in the region.
Officials explained this program is being offered as a continuation of HyreCar’s mission to improve the lives of rideshare drivers by giving them what the company described as “a true path to vehicle ownership.”
In addition to a path to vehicle ownership, rideshare drivers are also given an opportunity to rebuild their credit. This partnership is set to fuel vehicle supply growth on the platform in the regions where the program is offered, with plans to add upward of 100 vehicles by the end of 2018.
Paul Sansone Jr. owns Kia, Nissan and Mitsubishi franchises in Neptune, N.J., an independent dealership in Keyport, N.J., and recently acquired a Nissan dealership in East Windsor, N.J., to expand the “Rent 2 Own” program on HyreCar’s platform.
“Almost 10 years ago, I launched our own 'Rent 2 Own' program for people who needed a vehicle, but were also captured in a prolonged cycle of renting due to poor credit,” said Paul Sansone Jr., president of Sansone Jr.’s 66 Automall. “The emergence and rapid growth of the on-demand employment economy, provided by these ridesharing companies, combined with the innovative HyreCar platform will allow us to scale our 'Rent 2 Own' program tremendously.”
“I look forward to offering our ‘Rent 2 Own’ program along with free credit repair services to all new rideshare drivers in New York, New Jersey and Pennsylvania,” Sansone continued.
HyreCar asserted that it’s the first Mobility-as-a-Service platform to focus on the long-term needs of dealerships and rideshare drivers. By giving dealers the opportunity to expand innovative solutions to car ownership, such as the “Rent 2 Own” program, rideshare drivers can more easily access affordable vehicle options.
“This program is groundbreaking in that it shows one of the many ways a dealer can customize HyreCar’s technology platform to grow their existing business, while at the same time learning the Mobility-as-a-Service tools of tomorrow,” said Joe Furnari, chief executive officer of HyreCar.
“Further benefits include capturing higher fees, which increases our lifetime value of the customer, helping better the lives of our drivers through car ownership, and enabling dealers to sell more cars,” Furnari went on to say.
To sign up or learn more about the program, visit hyrecar.com/rto.
The newest installment of the Market Insights Report from Black Book indicated how December is turning into a joyous time so far for both consignors and dealers.
The latest wholesale price data and anecdotes from sale days showed that used-car managers are finding more affordable vehicles to fill their inventories while consignors are fetching satisfactory funds for the units they’re sending down the lanes.
According to volume-weighted data, editors found that overall car segment values decreased by 0.72 percent last week. In comparison, Black Book noticed market values had decreased by 0.57 percent on average during the previous four-week stretch.
Among car segments, editors pointed out the full-size car, midsize car, sub-compact car and sporty car experienced the biggest drops with declines ranging from $49 to $120.
Again, looking at volume-weighted information, Black Book found that overall truck segment values (including pickups, SUVs and vans) dropped by 0.64 percent last week. In comparison, truck values had softened by 0.49 percent on average during the prior four-week period.
In truck segments, editors said the minivan and small pickup segments performed the worst, sliding by $167 and $173, respectively.
“Mainstream used-sedan values declined the most last week since January of this year. After bucking the trend for most of the year, the depreciation rates are finally reverting to seasonal expectations,” Anil Goyal, executive vice president of operations for Black Book, said in the report.
Meanwhile, what Black Book observers gathered from sale days reflected an upbeat start to the closing month of the year. Here is the rundown:
— From Indiana: “Supply is still low. Trade-ins are down for dealers so they are buying at the auction in order to maintain inventory.”
— From Pennsylvania: “Dealers were prepared to buy and did just that, which resulted in a 70-percent sales percentage for the auction.”
— From California: “Fewer no-sales, which indicates more realistic floors are being considered and set by the sellers.”
— From Massachusetts: “The big consignors said that they were happy as the money ranged from good to very good.”
Update on the specialty market
As they do on a monthly basis, Black Book editors also shared their perspectives on what’s happening in the specialty markets. Here are their observations:
— Collectibles: As the industry delves deeper into the final month of 2018, Black Book noted that much of the talk is about the upcoming auctions in Scottsdale, Ariz., in January. Silver kicks things off on Jan. 10. Barrett-Jackson gets things started in earnest on Jan. 12, and Worldwide, Bonhams, Gooding, Russo and Steele and RM Sotheby’s begin their previews with their main events starting towards the end of that week and running through the weekend.
— Recreational: Black Book mentioned the average selling price of motorized units at auction last month dropped roughly 9 percent, “which sounds significant, but if you exclude September’s unexpected price spike, the drop is really only about 1.5 percent from two months ago, which would be expected going into colder weather.”
— Powersports: With the holiday season officially upon us, Black Book said the powersports market has entered its typical winter slowdown. “The changes in value this month are fairly moderate considering the time of year, with most segments only down 1 percent or so,” editors added.
— Heavy duty: Editors indicated more used trucks are needed to satisfy the growing demand for both long haul and regional delivery needs. Franchised dealers, independent dealers and other used-truck sales venues need to find more inventory to take care of their customer’s used truck needs,” Black Book said.
— Medium duty: Black Book added that demand is consistently increasing for units in these segments as scarcity in used supply continues to be an issue for some segments.
Last time Sonic Automotive expanded its line of EchoPark Automotive used-car stores, it added a location in the dealer group’s hometown of Charlotte, N.C.
This time, Sonic added an EchoPark location in the hometown of its president.
“I am excited to open the next EchoPark Automotive store in my hometown of Houston. We have spent considerable time and effort developing a pre-owned vehicle experience that delivers on our brand promise of value, honesty and transparency,” said Jeff Dyke, president of Sonic and EchoPark, in a news release.
“Since 2014, EchoPark has seen triple-digit growth, a great testament to the model and not only meeting, but exceeding customer expectations,” Dyke said.
This is the eighth location for the EchoPark standalone used-car store program. There are also stores in the Denver area; Charlotte, N.C.; Dallas and San Antonio.
“Our goal has always been to provide a guest experience that breaks the stereotype of the used car dealership. We are doing this with our outstanding associates and our state-of-the-art retail facilities,” Sonic chief executive officer David Smith said in a news release.
“Respect for our guests, a comfortable environment and vehicle inventories that meet our guest's needs are the foundation of EchoPark Automotive,” Smith said.
The EchoPark program has also focused making an impact in the individual communities where its stores are located, the company said. The team at the newest store, for instance, worked with the Houston Food Bank to deliver 1,000 meals for families in need heading into Thanksgiving.
"One of the most rewarding experiences for me has been seeing our team come together in training and in our volunteer efforts. We are excited to open our doors for Houston and let folks know what a great experience that our EchoPark Houston team is ready to provide them," EchoPark general manager Brian Faistenhammer said in a news release
While much of the country currently is gripped by a wintry-like chill, CDK Global is collaborating with J.D. Power’s NADAguides to help dealers turn units especially for times when sunshine and warm temperatures return.
On Monday, CDK Global announced the integration of the division of J.D. Power and its NADAguides vehicle pricing data and information with Lightspeed EVO Dealer Management System (DMS). The integration is designed to provide recreation dealers using CDK Lightspeed EVO DMS with access to critical vehicle data and information for RVs, boats, all-terrain vehicles (ATVs), motorcycles and other powersports vehicles listed on NADAguides directly through their DMS.
“This integration will give our recreation dealers fast and easy access to the critical vehicle data available through NADAguides directly through their DMS,” said Kris Denos, vice president and general manager of recreation and heavy equipment at CDK Global.
“This will not only speed up their ability to pull this information but also provide a faster and more personalized experience for their customers,” Denos continued.
Denos went on to mention the integration into the Lightspeed EVO DMS will help recreation dealers by connecting the data and information provided by NADAguides with the tools that business functions such as sales and F&I, accounting, service and parts operations need to function.
“The integration of our data into the CDK Lightspeed EVO DMS provides dealers with a perfect match of products and services,” said Lenny Sims, vice president of business development and strategy at J.D. Power’s NADAguides division.
“This will enable a faster, more accurate and efficient way to do business on a daily basis,” Sims added.
Recreation dealers currently using CDK Lightspeed EVO DMS who are interested in learning more about the NADAguides integration can visit CDKGlobalRecreation.com/Nada-Guides or contact their local CDK sales representative.
