National Independent Automobile Dealers Association vice president of dealer development Jeremy Beck shared a new statistic that surprised many executives who have been in the car business for decades.
Hear Beck explain that data point and more during this episode of the Auto Remarketing Podcast recorded in Las Vegas at this year’s NIADA Convention & Expo.
NextGear Capital president Scott Maybee addressed a question that dealerships likely have been wondering, too, as they examine their floorplan expenses and other operational matters.
What if interest rates never drop much below where they currently are?
Maybee shared his response and more for this episode of the Auto Remarketing Podcast recorded in Las Vegas at this year’s NIADA Convention & Expo.
More than 40 new electric vehicles are expected to hit the market by 2025, according to J.D. Power.
Experts think this increase seems to be driven by increased automaker incentives, high interest rates, federal EV tax credit leasing loophole, and concerns about long-term serviceability and battery health.
And they said an increase in leased EVs will equate to an influx of off-lease vehicles entering the secondary EV market in the next 24 to 36 months.
During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a panel of industry experts discussed this emerging market, including sales, service and the importance of preparing for this growing segment.
The panel included:
—Elena Ciccotelli, host and producer, The EVs for Everyone Podcast
—Jimmy Douglas, founder and CEO, Plug
—Dan Saidy, director of sales operations, The CAR Group (Norm Reeves)
—John Foley, co-founder and president, Recharged
With only 13 EVs/PHEVs now qualifying for the full IRA Federal incentive of $7,500 due to sourcing requirements, it is clear that EV/PHEV leasing, with the 45W rule that grants the commercial user the full credit with no sourcing requirements, will inevitably be the preferred “sale” of choice for many OEMs and finance institutions.
However, as values of used EVs have dropped (and continue to drop) dramatically over the last 18 months, it has become increasingly difficult to forecast a residual value, vital to any finance organization’s lease planning.
During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a trio of experts explored the wide-ranging ramifications of the substantial loss in value of used EVs, the continuing evolution of the used EV market, and how technology and digital marketplaces will affect the future of the new and used EV market.
The panel included:
Elena Ciccotelli, host and producer, The EVs for Everyone Podcast
John Possumato, founder and CEO, DriveItAway
Jimmy Douglas, founder and CEO, Plug
Digital auditing is now enabling floorplan and wholesale finance companies to “self-audit” physical auto and equipment inventory, leveraging artificial intelligence, machine learning and API integration.
At this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.., Marguerite Watanabe of Connections Insights moderated a panel discussion about how these digital audits are progressing, asking for perspectives from a trio of industry executives, including:
—Jeff Bunch of Sopra Banking Software
—Erica Novick of ACV Auctions
—Paul Kramarz of Automotive Finance Corp.
A quartet of industry experts from EY were straightforward with attendees at this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.
Innovate or else.
During this episode of the Auto Remarketing Podcast, listen to a panel discussion when the EY experts — Courtney Dusseau, Katie Johar, Bryan Chance and Dan Rocklein — explore how direct-to-consumer auto sales and the future of financing presents new opportunities for business leaders to develop robust strategies and foster key partnerships in order to compete.
Rebecca Jenkins, senior director of business development with AccuTrade, addressed one of the pressing questions discussed most during this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C. How are electric vehicles impacting the used-car market? Listen to this episode of the Auto Remarketing Podcast to hear Jenkins’ keynote presentation given during the event’s final day.
On this episode of the Auto Remarketing Podcast, Super Dispatch founder and CEO Bek Abdullayev takes us behind the scenes of the company’s next generation marketplace. Abdullayev shares more about how the approach to solve the challenges in the logistics vertical of fraud and trust issues, the rise of artificial intelligence and the need for central platforms and technology integrations as the team built this next generation marketplace.
What will the electric market look like in 2030 and, more importantly, how will we get there? That was the theme of this debate — a true clash of titans — between Steve Greenfield of Automotive Ventures and Scott Case of Recurrent during this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C. Moderated by Cherokee Media Group’s Joe Overby, Greenfield and Case sparred for more than 30 minutes, setting the stage for another potential meeting at this year’s Used Car Week.
During a panel discussion at this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a quartet of experts explained how evolving technology is making massive amounts of data more understandable and usable for auto financing.
Led by Cherokee Media Group’s Nick Zulovich, the panel included:
—Kevin Filan of Open Lending
—Jessica Gonzalez of InformedIQ
—Scott McMahon of Equifax
—Tim Yalich of Wolters Kluwer
