While other means of communications are gaining popularity, dealerships sometimes still need to talk with their customers on the phone, so Volie rolled out a new product to help.
On Monday, the creators of communication software for the automotive industry announced the launch of Dealer Identity by Volie, which is an all-in-one phone number monitoring solution for dealerships that can correct dealership phone numbers improperly labeled as scam and spam to improve the likelihood customers will trust and answer calls.
The solution is powered by Numeracle, a pioneer of robocall blocking and labeling that has enabled more than 350 businesses nationwide to maintain a positive calling reputation.
“Dealership employees and BDCs need to be able to reach the prospects and customers they call. But this is increasingly difficult as more legitimate numbers are labeled spam or marked as suspicious,” said Jacob Davis, managing partner of Dealer Identity by Volie.
“Now dealerships can have a well-established, technology-driven solution to register, verify, and monitor outbound phone numbers to remove any negative number labeling and connect more calls to more customers,” Davis continued.
Volie estimated that on average 25% of a business’ phone numbers are improperly blocked or labeled as spam. Dealer Identity by Volie can correct labeling issues so calls are delivered as “clean” with the phone number displayed on the call screen.
The company explained an interactive dashboard can allow dealership management to monitor all outbound phone numbers, address negative number labeling, and improve number reputation to achieve up to a 15% increase in customer connections.
In addition, Volie said the dashboard can display trending data to review changes to labeling and phone number reputation over time and provides management tools for phone carrier relationships and phone number updates. If phone numbers are mislabeled as negative and require additional remediation, the solution automatically invokes an appeals process at the carrier level.
“Number reputation and management should be provided by the experts within each industry,” Numeracle founder and chief executive officer Rebekah Johnson said in the news release. “Dealer Identity by Volie is that expert who will bring the awareness of spam labeling and solution to the auto dealership industry.”
According to Davis, Dealer Identity by Volie is a simple and effective system to help dealers run lean while maintaining robust outbound call campaigns.
“As dealerships across the country do more with fewer employees and rethink staffing needs in today’s increasingly virtual world, there’s a need for technology to amplify and improve business operations,” Davis said.
“Dealer Identity does this by ensuring staff spends less time in dialing attempts and more time connecting with new and repeat customers,” he went on to say.
For additional information and to schedule a demonstration, call (888) 714-1009 or visit www.dealeridentity.io.
Within hours of the Supreme Court making its decision on Thursday, ComplyNet president and general counsel Adam Crowell made another appearance on the Auto Remarketing Podcast to provide an update about mandates put forth by the Occupational Safety & Health Administration (OSHA) involving COVID-19 vaccinations and testing.
Crowell described what dealers have been facing since these proposed mandates first surfaced in November and arguments in federal court that ensued.
To listen to the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.
Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.
Especially if you are a regular consumer of Auto Remarketing content, you might agree with Kerrigan Advisors that the auto dealership buy/sell market is on track for another record year.
The firm detailed how the market continued its momentous pace during the third quarter through its latest report released on Thursday. According to the Third Quarter 2021 Blue Sky Report, there were 81 dealership buy/sell transactions completed for a total of 225 transactions for the first three quarters of the year, a 21% increase over 2020’s previous record, according to information from The Banks Report, Automotive News and Kerrigan Advisors’ research.
Kerrigan Advisors projects that 2021 will finish with more than 350 transactions, which would be a new industry high.
The firm explained the increases in the Q3 buy/sell market were directly related to the industry’s continued historic record profits and revenue. Kerrigan computed that in the past four quarters, the average dealership saw revenue rise to new highs and earnings increase 168% higher than 2019.
“Month after month of record profits is driving the velocity of this historic buy/sell market, increasing valuations and fueling an unprecedented rise in capital availability,” said Erin Kerrigan, founder and managing director of Kerrigan Advisors. “Today, most dealers’ cash accounts are awash in more profit than they could have dreamed of in a single year.
“This, combined with low inventory levels and minimal floorplan, is resulting in a tremendous deleveraging of dealers’ balance sheets enabling them to access larger amounts of debt to finance major expansion on attractive terms,” Kerrigan continued in a news release.
Kerrigan pointed out that despite 2021’s record profits, the vast majority of dealers expect profits to rise even further over the next 12 months, according to a firm survey, as inventory remains constrained and consumer demand remains high.
The firm said this sentiment has made dealers bullish on growth with 77% planning to acquire one or more dealerships over the next 12 months.
“Dealers have re-engineered their business model, accomplishing record profits with fewer employees and less operating expense. As quarter after quarter proves the advantages of today’s more efficient model, dealers are shifting from a 'more is more' mentality to a 'less is more' perspective for both employees and inventories, distancing themselves from auto retails’ antiquated pre-Covid economic architecture of less productive employees and an oversupply of inventory,” Kerrigan said.
Consistent with the industry’s positive profit outlook for 2022, the Kerrigan Index of the seven publicly traded auto retailers hit new records through the end of the third quarter, up 39.8% year-to-date, as it continued to outperform the S&P 500 Index by over 76%.
The firm pointed out that the publics were major players in the explosive buy/sell market with their spending on acquisitions coming in at a record $2.7 billion in the first three quarters of 2021, surpassing 2020’s full year record, and putting 2021 on track to be the most acquisitive year for the publics on record.
Kerrigan Advisors projects their acquisition spending for 2021 will reach more than $7 billion.
“This is a remarkable number which will surely cement 2021 as the most acquisitive year on record for the public acquirers,” said Ryan Kerrigan, managing director of Kerrigan Advisors. “Wall Street is rewarding these companies with higher valuations believing that an investment in the consolidation of auto retail is one that will pay future dividends. Since Wall Street is paying a price premium for the most acquisitive companies, it is not surprising to see all of them make US dealerships acquisitions in 2021.”
Kerrigan added that private buyers continue to dominate industry consolidation, albeit less than they did in 2020 given the publics’ renewed commitment to acquisitions, acquiring 86% of franchises sold in the first three quarters of 2021.
The firm went on to mention that multi-dealership transactions were also important factors in the first three quarters of 2021: an unprecedented 79 multi-dealership transactions were completed, representing 35% of the total buy/sell market.
Among the franchises being acquired, import non-luxury franchises continue to see increased market share relative to 2020, with 38% of the buy/sell market, according to Kerrigan.
Future trends & multiple outlook adjustments
Kerrigan Advisors identified the following trends that firm experts see as being important and impacting the buy/sell market into 2022, including:
— Sellers’ value expectations rise as pre-COVID earnings become less relevant to today’s business
— Valuation drivers for large groups differ from individual franchises
— OEM framework agreements create some limitations for the largest consolidators
Meanwhile for the third quarter, Kerrigan Advisors made positive adjustments to four blue sky multiples.
Toyota’s high-end blue-sky multiple was increased from 7.0 to 7.25 with its outlook remaining positive.
“Our dealer survey highlighted the rising value of the Toyota franchise with the majority surveyed expecting the franchises to increase in value,” Ryan Kerrigan said. “This is consistent with our recent experience selling multiple Toyota dealerships. As auto retail enters a period of evolution, dealers are confident in Toyota’s future franchise value due to its supportive partnership with its dealer network.”
Kerrigan Advisors also increased Hyundai’s and Kia’s blue-sky multiples on the high-end to 4.5 from 4.0 and on the low-end to 3.5 from 3.0 and moved their outlooks from steady to positive.
The firm explained Hyundai and Kia become the second and third highest ranked franchises by dealers in expectations for increased valuation, leapfrogging over last year’s survey leaders Subaru, Porsche, Honda, Mercedes-Benz and Lexus.
Nissan’s high-end blue-sky multiple was increased to 3.5 from 3.0 and its low-end multiple to 2.5 from 2.25, as Nissan saw a significant improvement in the survey with 22% of dealers expecting Nissan to increase in value, compared to just 8% in 2020.
Kerrigan Advisors kept Nissan’s multiple outlook positive as further increases may occur over the next 12 months with continued improvements in dealership profits.
Other highlights from Q3 report
The firm mentioned several other highlights from the Q3 2021 Blue Sky Report, inclduing
— Auto dealerships’ average earnings for the last four quarters were $3.8 million, more than double the pre-pandemic annual average.
— In Q3, blue sky values were up over 60% from pre-pandemic levels.
— 79% of auto dealers expect their profits to rise further over the next 12 months.
— 77% of auto dealers plan to acquire one or more dealerships over the next 12 months; only 3% plan to sell.
— The Kerrigan Index is up 39.8% year-to-date, outperforming the S&P 500 Index by over 76%.
— 79 multi-dealership transactions were completed in the first three quarters of 2021, representing 35% of the total buy/sell market.
— Market share for import non-luxury franchises increased to 38% of the buy/sell market.
— The top 5 franchises expected (by dealers) to increase in value are all import non-luxury franchises: 1. Toyota, 2. Hyundai, 3. Kia, 4. Subaru, 5. Honda.
— The luxury franchise buy/sell market share dropped from 20% in 2020 to 16% in 2021. The firm said that’s possibly due to increased competition from Tesla, coupled with uncertainty about the future luxury business model.
— Domestics improved their buy/sell market share in the third quarter relative to the second quarter, with Chevrolet, Ford, Buick GMC and CDJR in the lead.
— Public auto retailers’ earnings increased 140%, versus 2020, to a record $4.5 billion in net income over the last four quarters.
— Public auto retailer spending on acquisitions was a record $2.7 billion in the first three quarters of 2021, surpassing 2020’s full year record.
—I n Q3, the publics added a net of 95 franchises, 80 more than 2020.
— Lithia and Asbury were the most acquisitive in 2021 and have the strongest valuation metrics in 2021.
— Private buyers dominate industry consolidation, representing 86% of all franchise acquisitions for the first three quarters of 2021.
— Kerrigan Advisors estimates that the average dealership real estate values rose to $11.9 million in the third quarter of 2021.
— Dealership rent expense reached a record $831K on a trailing twelve-month basis; however, high rent payments were offset by record gross profits: the rent-to-gross profit margin declined to 8.8%, the lowest level in over a decade.
— Rising rents are particularly evident in the luxury OEM segment at an average of more than $1.3 million. Kerrigan Advisors is expecting real estate investment requirements will continue to be a factor in luxury dealers’ decisions to sell.
— 61% of dealers expect the value of their dealership/dealership group to increase in the next twelve months.
To download the entire report, go to this website, and review the Kerrigan Auto Retail Index, go to this website.
While a Maryland Lincoln dealer near the nation’s capital is in construction mode, a store manager with more than 20 years of industry experience purchased his own dealership on the West Coast.
Separate news releases detailed Alex Perdikis’ plans for a new Lincoln rooftop in Bethesda, Md., and Vikas Mehandroo fulfilling his goal of becoming a Ford dealer.
According to the announcement from Performance Brokerage Services, which was involved in the transaction, Mehandroo acquired Perry Ford in Poway, Calif., from Perry Automotive Group.
Performance highlighted that Mehandroo came to the United States 21 years ago and was introduced to the automotive industry as a salesman.
“He quickly realized that it wasn’t only about the cars, but about serving the people,” the firm said in the news release.
After selling cars for nine months, Mehandroo was promoted to finance manager where he stayed for the next four years until he became general manager.
Over the course of the next 12 years, Mehandroo served as general manager for multiple dealerships and franchises, including Toyota, Infiniti, CDJR, Nissan and Ford.
Performance indicated that Mehandroo decided he was ready for the next chapter in his career. In February, he made a commitment that he would be a dealer principal by the end of the year.
“It all started 10 months ago with a simple phone call to Performance Brokerage Services. The fact that Jason and Jesse Stopnitzky spent 50 minutes on the first phone call with a first-time purchaser told me they are the only people to do business with,” Mehandroo said in the news release.
When Performance Brokerage showed Mehandroo the Ford dealership in Poway, he claimed it was “love at first sight.”
Mehandroo added, “Ford is the greatest OEM, with a fantastic minority owner’s program.
“Jason Stopnitzky has been a guide, a friend, a mentor, and above all an inspiration to never give up,” Mehandroo continued. “From day one, Jason always made me feel at home and never made me realize this was my first deal. There are a lot of people in the market who will make you a deal, but only Performance Brokerage Services will take care of you like their own. I owe it to Jason for my first store, there is no way that I could have done it without him.”
Jason Stopnitzky gave this positive assessment of Mehandroo’s future.
“We wish Vikas Mehandroo much success with his first store and have no doubt that this is just the beginning for him. He does what he says and says what he means. It was a pleasure getting to know him through this process and we look forward to working with him again in the future,” Stopnitzky said.
Meanwhile for the Perry Automotive Group, it’s been a journey, too.
Perry Automotive Group purchased Perry Ford of Poway in 1996. As long-time Ford dealers in central California, co-owner Perry Falk acquired the Poway location and relocated his family to San Diego. The group consists of Perry CDJR and Perry Ford of National City, Perry Ford Lincoln and Perry Volkswagen of San Luis Obispo and Perry Ford of Santa Barbara.
Co-owner Deborah Falk said in the news release, “Selling a family business is hard enough, but selling a split-family business is extra difficult. Jason Stopnitzky of Performance Brokerage Services was a great intermediary for us and was very respectful of my interests. He listens to what you want and he finds the deal to make it happen. He exceeded my expectations.”
The dealership will remain at its current location at 12740 Poway Road in Poway and will be renamed Aaron Ford of Poway. According to the news release, the store is being named after Mehandroo’s son.
Perry Automotive Group was represented by James P. Barone of Ferruzzo & Ferruzzo LLP in Newport Beach, Calif.
Mehandroo was represented by the Law Office of Jason B. Cruz in Redlands, Calif.
New Lincoln store coming in Maryland
In the other news release distributed last week, Alex Perdikis, principal owner of Koons Lincoln of Silver Spring, has announced the expansion of his dealership holdings into downtown Bethesda with Koons Lincoln of Bethesda.
Perdikis highlighted the new dealership, housed in a multi-million-dollar state-of-the art facility will showcase Lincoln's luxury line of SUVs in the heart of Bethesda’s newly revitalized commercial and residential district.
Slated to open early in 2022, the new 4,300-square-foot dealership is set to be located at 7315 Wisconsin Avenue in Bethesda. The rooftop will feature Lincoln Navigators, Aviators, and other models in an innovative street level storefront.
In addition, Perdikis said vehicles will be showcased to the public in an elegantly illuminated glass runway.
Designed to evoke a glass display case, Perdikis said the runway provides ample space for shoppers to browse Lincoln models and is an exciting exterior focal point of the Lincoln Boutique store.
Perdikis added that the dealership, designed by Bethesda-based Penney Design Group, will entice shoppers with additional amenities including a spacious modern lounge, coffee bar, private sales suites and more.
Perdikis mentioned that he was motivated to expand into the area by the resurgence of the Bethesda center city district, joining the revitalization effort that includes a full roster of new restaurants, shops and residential spaces.
“We’re excited to bring this destination Lincoln Boutique and new career opportunities to Bethesda,” Perdikis said. “We’re pleased to be a part of the development and growth of this emerging area. The new location provides a great opportunity for window shoppers to discover Lincoln's premium luxury brand. We invite everyone in the area to stop in for a cup of coffee and say hello.”
In addition, this location will include The Lincoln Black Label Suite, offering custom designer curated vehicle interiors and upgraded customer amenities. This space is designed to provide a quiet sanctuary where Black Label clients can explore the exclusive themes and offerings and make informed purchase decisions.
The new Bethesda Lincoln Boutique store will serve as an additional base for the Koons home shopping service, available for those who prefer the convenience of home shopping and test drives.
For added customer convenience, Koons Lincoln of Bethesda will offer a dedicated Lincoln mobile service van. Clients can have routine services completed at their home or office and forgo a trip to the dealership all together.
“In keeping with the legacy of the Lincoln brand, this location is true to that heritage while expressing the sleek modernity, design updates and technology that has come to define this very popular luxury brand,” Perdikis said.
Adam Carolla has some thoughts about car dealers.
Mainly that the stereotypes about them portrayed in a recent line of Vroom commercials are a bit outdated and inaccurate, the comedian opined in Part I of Wednesday’s Adam Carolla Show.
The spots, which began during the NFL Playoffs earlier this year, take a satirical, cartoonish poke at what some may view as the traditional car-buying experience at dealerships.
“They all look like extras from ‘Waterworld,’ and they’re standing in these haunted dealerships like laughing at everybody,” Carolla said during the podcast, apparently referring to this “Dealership Deceipt” commercial. “I’ve been down to the Honda dealership in El Monte. I didn't have that (experience).”
Carolla — an automotive enthusiast, himself — and co-hosts Gina Grad and “Bald” Bryan Bishop described dealerships as being “state-of-the-art” during their visits, featuring high-end technology and offering a “very nice” car-buying experience.
The trio also share their take on a more recent Vroom spot, “Puppet Husband,” which depicts a woman inquiring about an SUV at a dealership, only to be ignored by the sales staff. The frustrated shopper pulls out a male ventriloquist dummy, who then asks about the same SUV, and was instantly helped by a salesman.
Carolla said he again found this messaging outdated, saying that, “We’ve turned the corner on this one, Vroom.”
Offering his take, Bishop said: “The disinterested salesman was the silliest of all. Because, you ever been to one of those showrooms? They'll descend upon you.”
Added Grad, “They hop to it. And as someone who went alone to the Subaru dealership this year to buy a car, I had no problems.”
Carolla and team did suggest dealership sales staff could beneift from a more in-depth knowledge of vehicle features, such as knowing specifics like exact horsepower differences between various iterations of a vehicle or the size of its fuel tank.
“Waiters come in every night and have to re-learn a menu,” Grad said. “You can do this.”
The full episode can be found at the link below. [WARNING: Contains profanity].
https://adamcarolla.com/adam-ray-jason-gannon/
This week, NVI Institute Blairsville, NAPA Auto Parts and Universal Technical Institute all announced their latest efforts to help auctions, dealerships and other vehicle repair operations that are all in great need of trained technicians.
According to the Bureau of Labor Statistics, demand remains strong for skilled technicians nationally, with the estimation there are approximately 110,000 total new openings each year for automotive, diesel, and collision repair technicians nationally through 2030, including net employment changes and net replacements.
In response, NVI Institute Blairsville is launching what it called “innovative, accelerated” programs in auto and diesel technology to get technicians on the job more quickly and to address critical shortages of skilled workers.
NVI Blairsville’s first six-month sessions for aspiring auto and diesel technicians begin Jan. 3.
By focusing on the essential skills sought by employers, NVI said it can cut students’ expenses and the time it takes to start work.
“A student in the program here at NVI is going to be put through the diesel or auto technology course in six months and be ready to hit the ground running,” said Adam Duplin, diesel program coordinator at the training location in southwest Pennsylvania. “In developing the school, we worked with teams of employers who told us exactly what they are looking for in a program.”
As mentioned, demand for auto and diesel technicians is high. At the same time, NVI pointed out that technician salaries now rival or surpass those of some graduates of four-year colleges and universities.
The goal for NVI is to help employers address shortages in skilled workers while helping students position themselves to take well-paying jobs in long-term careers with major automotive, truck, and heavy equipment suppliers and dealers.
“You can walk out of high school, graduate in June from high school, start here in July and be done by December and be working in January in the field,” NVI automotive program coordinator Jack Fetsko said in a news release. “Every repair or manufacturing facility right now is looking for technicians. You can make a really good living at it.”
NVI bought the now-remodeled and updated former WyoTech Blairsville campus. The company said it employs “proven, industry experienced instructors well acquainted with the hallmark industries that will be served by NVI graduates.”
NVI insisted that its instructors go well beyond a core education, also teaching “soft” skills that help people function well in a workplace, at home and in their communities.
“Our instructors are equipped to give students the necessary soft skills to deal with an employer or an angry customer, and how to prepare a resume, for example,” Duplin said.
NVI is actively seeking students who are in high school, considering a career change, not interested in a traditional college education, or completing military service.
NAPA Auto Parts & Universal Technical Institute form new strategic alliance
In other training news, Universal Technical Institute (UTI) and NAPA Auto Parts (NAPA) said they have joined forces to support the future of those seeking careers in the transportation and aftermarket auto repair industries.
NAPA has become the preferred UTI auto parts supplier, which includes its NAPA Autotech training program that will be available to faculty.
NAPA said through a news release that it will supply essential parts for hands-on labs, including brake kits, rotors, bulbs, bearing kits, wheel weights and more. The initial stage of the partnership will impact UTI, MMI and NTI-branded campuses and may be expanded to MIAT-branded campuses in the future.
With this partnership, UTI and NAPA aim to help meet this demand by providing access to the necessary supplies for on campus training and connections with NAPA customers.
“We are thrilled to bring in a partner like NAPA Auto Parts to provide our students, staff and alumni with greater access to quality auto parts through one of the country’s premier providers,” UTI chief executive officer Jerome Grant said in the news release.
“Like UTI, NAPA has a passion for educating and supporting individuals as they enter into a career path in the transportation industry,” Grant continued. “NAPA has worked closely with UTI for years, and we know they will be an active and engaged partner.”
NAPA president Kevin Herron added, “We admire UTI’s commitment to providing state-of-the-industry training to the next generation of skilled automotive technicians.
“We are proud to support the industry by providing training and supplying quality automotive parts to the talented UTI staff, students and graduates,” Herron went on to say.
Selly Automotive founder & CEO Zach Klempf joins the show to discuss how independent dealers are faring in what has been a rather unique retail auto environment, and how they're using tech and innovation to combat challenges.
Plus, he shares the importance of utilizing CRM and automation services.
To listen to the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.
Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.
The top leaders of Cherokee Media Group and the National Automobile Dealers Association shared a conversation for this episode of the Auto Remarketing Podcast.
In this wide-ranging discussion, Bill Zadeits asks Mike Stanton about how his past positions prepared him to lead NADA, the emergence of electric vehicles and why some parts of the used market “just don’t make sense right now.”
To listen to the episode, click on the link available below, or visit the Auto Remarketing Podcast page.
Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.
Yates Buick GMC, a family owned dealership near Phoenix with its roots in the used-vehicle industry, was impacted in the most significant way possible because of COVID-19.
However, the Yates family is preserving to keep its franchised dealership successful.
According to a news release, Whitney Yates-Woods recently became the dealer principal at Yates Buick GMC, taking over for her father, Mike Yates, who passed away in March after being diagnosed with COVID-19.
The 35-year-old mother of two now is overseeing the rooftop started by her father more than 30 years ago after he was selling used vehicles. Yates-Woods not only is carrying the family legacy, she described how becoming the dealership leader as a woman is notable, too.
“The automotive industry is heavily commanded by men and has lagged behind other industries for change,” Yates-Woods said in the news release. “With a female dealer principal, many other women in our workplace will step into roles they never thought were possible and aren’t common to see in other dealerships.
“My dad had already handed down daily operations to me and my brother, Tyler, but applying to be dealer principal with GM after his passing felt like the right move,” Yates-Woods continued.
“Being a family-owned and operated business is something the entire Yates team takes very seriously, and we’re extremely proud to carry on my dad’s vision for the future of the business,” she went on to say.
Yates Buick GMC uses a one-price sales approach for retailing vehicles, stocking more than 120 used models.
“From finding new, creative ways to help the customer, to sticking with the original goal of putting customers first, our team is dedicated to treating everyone fairly,” said Tyler Yates, who serves as executive manager at Yates Buick GMC.
“Everyone who walks in is treated as a part of the continuously growing family. We stand by our commitment to making your car or truck buying experience the best it can be. No tricks, no double talking; just a good deal and a great vehicle,” he went on to say.
The next chairman of the National Automobile Dealers Association hails from the same state as two of nation’s largest dealer groups — as well as this very publication.
Mike Alford, president of Marine Chevrolet Cadillac in Jacksonville, N.C., was elected Tuesday by the NADA board to be the association’s 2022 chairman.
Alford is NADA’s current vice chairman.
He will be the second NADA chairman in the past nine years from the Tar Heel State, which is home to Sonic Automotive and Hendrick Automotive Group.
David Westcott of Burlington, N.C., was the 2013 chairman.
“It is an honor and privilege to be elected to serve as NADA board chairman for 2022,” Alford said in a news release. “Since 1917 NADA has been an ardent advocate for franchised new-car dealers. The opportunity to chair this dynamic group of automotive leaders is both exciting and humbling.
“We have an engaged board and talented team that stands ready to advance the interest of our more than 16,000 franchised dealers,” he added. “I appreciate the trust and confidence of the board as we tirelessly pursue our work with all stakeholders on behalf of the dealer body.”
Alford will succeed current NADA chairman Paul Walser.
During its meeting, which was held in Charleston, S.C., on Tuesday, the NADA board elected Geoffrey Pohanka as vice chairman for 2022.
Pohanka is president of Pohanka Automotive Group. He represents Metro Washington, D.C. dealers on the NADA board and is chairman of the association’s industry affairs committee.
“I grew up in the car business. It’s an amazing, rewarding and exciting business, and we’re all so fortunate to be in it,” Pohanka said in a release.
“My family has been involved in NADA for generations. NADA helped our company tremendously, and we’ve been giving back ever since. NADA has an amazing board and an amazing staff,” he said. “And if we can help create a good environment for the industry, we can help create a vibrant economy and stronger communities. That’s what I want to do, and I promise to give it my utmost 110%.”
Castriota Chevrolet owner Tom Castriota of Florida was elected NADA secretary. Sunnyside Automotive Group president Kirt Frye was elected treasurer.
Each of these officers will start their terms in March at NADA Show 2022 in Las Vegas.
