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Depreciation Slows in June, NADA Used Car Guide Reports


MCCLEAN, Va. — Used-vehicle depreciation slowed modestly in June compared to May’s more rapid pace, according to the NADA Used Car Guide, with prices for vehicles up to eight years in age falling 2.5% on a monthly basis in June, or more than a half a percentage point less than the 3.2% drop recorded a month earlier.

While May depreciation was among the worst recorded for the month since 1995, June’s drop wasn’t so dramatic. As a result, the NADA Used Car Guide’s seasonally adjusted used vehicle price index dropped a 0.2% relative to May to 123.7.

“With the first half of the year now behind us, one could say used-vehicle prices have held up well despite mounting pressure from the new-vehicle market and rise in supply,” the firm said in its monthly newsletter. “After all, NADA UCG’s index slipped by just 0.6% over the first half of 2015 compared to the all-time high reached over the same period in 2014.”

Year-to-date depreciation stood at 9% relative to all of 2014, which, according to the firm, was only moderately higher than the 7.2% rate recorded last year and less than the nearly 10% year-to-date drop logged in 2013.

“Digging a bit deeper, we see the year’s steady performance is a result of strong truck prices compensating for weak car prices,” the firm noted.

Cars, subcompact, compact and mid-size car prices have been among the softest all year, which the firm said is due in large part to intense new-market competition — both within their respective segments and from high-demand crossover utilities. Lower gas prices haven’t helped the situation, either, the firm noted.

“For example, new subcompact, compact and mid-size car incentives were up by a combined 10% through May, and the average spent per unit for the trio is similar to what’s been spent on luxury compact and mid-sized utilities — vehicles costing thousands of dollars more,” the NADA Used Car Guide noted.

The downward pressure has taken its toll on used prices for the group, with compact and mid-size car prices falling nearly 3% on a monthly basis in June. Prices for the pair on a year-to-date basis were 11% lower, on average, than in 2014. “This compares to depreciation of 7% over the same period last year,” the firm said.

Subcompact cars have performed even worse, with prices for the smallest car segment plunging by an average of nearly 4% in both May and June. That brought year-to-date depreciation to 12%, which is four percentage points worse than last year’s mid-year figure.

“By comparison, prices for used trucks and utilities have remained strong,” the firm noted.

With prices declining by 2.1% in June, compact utility prices bounced back from May’s 3.3% fall. Depreciation for the group on a year-to-date basis stood at 7%, which is just slightly worse than last year’s 6% figure.

“In June, mid-size and large utility prices fell by averages of 2.2% and 1%, respectively, which brought YTD depreciation to 6% — essentially unchanged from 2014,” the firm said.

Down 1.8%, mid-size van movement was fairly typical for June; however, the 10% drop in value on a year-to-date basis is two points higher than last year’s 8% figure. As for large pickups, prices dipped by 0.5% in June, bringing year-to-date depreciation to just 4% — and industry low.

“Large pickups continue to be the market’s standout performer,” the firm noted. “Large pickup prices haven’t fallen by more than 2.5% on a monthly basis in five years, which is a threshold passed by compact and mid-size cars more than a dozen times.”

As for the luxury segment, losses were less substantial than what occurred in both May and last June, with declines ranging from 1.5% to 2%. “Even so, YTD depreciation for luxury cars i among the highest in the industry,” the firm said.

Luxury compact car prices were down 11% in June, while luxury mid-size and large car prices were off by 13% and 15%, respectively. As for luxury utilities, prices of compact and mid-size luxury utilities were down by respective averages of 8% and 10% so far this year.

“On a like-age basis, we continue to see trucks and SUVs outperforming their car counterparts,” the NADA Used Car Guide said. “Through the first half of 2015, large pickup prices were 7.3% higher than the same period last year. Other strong performers include the mid-size utilities and large SUV segment, whose prices were 4.1% and 3.1% higher than last year, respectively.

“Subcompact and compact car prices were 1.7% and 6.9% lower than last year, respectively,” the firm added. “On the luxury side of the market, compact and mid-size SUV prices were around 1% higher than last year, however, compact, mid-size and large car prices were down between 0.6% and 2.9%.”

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NADA’s Koblenz Joins Industry Summit Roster


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that Andy Koblenz, executive vice president of legal and regulatory affairs for the National Automobile Dealers Association (NADA), will deliver a keynote address at Industry Summit 2015, which will be held Sept. 8–10 at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend.

“Andy Koblenz is a familiar face at Industry Summit and a great friend to dealers everywhere,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “His experience speaks for itself, and we anticipate a gripping and informative address.”

Since 2006, Koblenz has spearheaded critical efforts to protect franchised new-car dealers from federal regulatory overreach. He represents dealers before all federal regulatory agencies and is at the forefront of NADA’s advocacy efforts to protect consumer choice in indirect auto financing. Along with the nation’s top dealer groups, he helped launch NADA’s optional Fair Credit Compliance Policy and Program, which helps dealers and lenders comply with fair credit rules while preserving robust competition for car buyers in the auto finance marketplace.

“The upcoming Industry Summit will provide an ideal forum to discuss a resolution of the challenges to the indirect vehicle financing model presented by the Consumer Financial Protection Bureau,” Koblenz said. “As a matter of principle, car buyers have the right to negotiate the rate on auto loans. And they have the right to seek a better deal. No government institution should deny that. That’s not what Washington is supposed to do.”

Koblenz directs a staff of six attorneys specializing in franchise and state law, corporate law and federal regulatory affairs. He helped navigate NADA through intensely challenging times, including the credit crisis, automaker bankruptcies and Great Recession. Previously, he served as NADA’s vice president of industry affairs.

More information about Industry Summit and P&A Leadership Summit is available at the events’ websites. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount.

To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is required or call 727-947-4027.

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NADA’s Koblenz Joins Industry Summit Roster


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that Andy Koblenz, executive vice president of legal and regulatory affairs for the National Automobile Dealers Association (NADA), will deliver a keynote address at Industry Summit 2015, which will be held Sept. 8–10 at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend.

“Andy Koblenz is a familiar face at Industry Summit and a great friend to dealers everywhere,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “His experience speaks for itself, and we anticipate a gripping and informative address.”

Since 2006, Koblenz has spearheaded critical efforts to protect franchised new-car dealers from federal regulatory overreach. He represents dealers before all federal regulatory agencies and is at the forefront of NADA’s advocacy efforts to protect consumer choice in indirect auto financing. Along with the nation’s top dealer groups, he helped launch NADA’s optional Fair Credit Compliance Policy and Program, which helps dealers and lenders comply with fair credit rules while preserving robust competition for car buyers in the auto finance marketplace.

“The upcoming Industry Summit will provide an ideal forum to discuss a resolution of the challenges to the indirect vehicle financing model presented by the Consumer Financial Protection Bureau,” Koblenz said. “As a matter of principle, car buyers have the right to negotiate the rate on auto loans. And they have the right to seek a better deal. No government institution should deny that. That’s not what Washington is supposed to do.”

Koblenz directs a staff of six attorneys specializing in franchise and state law, corporate law and federal regulatory affairs. He helped navigate NADA through intensely challenging times, including the credit crisis, automaker bankruptcies and Great Recession. Previously, he served as NADA’s vice president of industry affairs.

More information about Industry Summit and P&A Leadership Summit is available at the events’ websites. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount.

To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is required or call 727-947-4027.

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NADA Chairman to Headline Industry Summit


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that Bill Fox, 2015 chairman of the National Automobile Dealers Association (NADA), will deliver the evening keynote address at this year’s Industry Summit, which will be held Sept. 8–10, 2015, at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend the session.

“Bill Fox is a tireless advocate for his fellow dealers, among whom he is held in high regard as a voice of reason and leadership through good times and bad,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “We are honored to welcome him to Industry Summit.”

Fox is a partner in Fox Dealerships Inc., a group that represents nine brands in the Upstate New York cities of Auburn and Phoenix, as well as a licensed attorney. His NADA tenure began in 2006, when he joined the organization’s board of directors, and has continued through the Great Recession and innumerable regulatory and legislative challenges to the franchised dealership model.

“I’m honored to deliver keynote remarks at the Industry Summit, which brings together new-car dealers and their managers and others in the auto financing community to hear from industry experts on a variety of financing and retailing topics,” Fox said. “Our industry is constantly overcoming challenges while seeing new ones arise. Forums like this allow us to continue an open dialogue with our industry partners to discuss NADA’s top issues, which include protecting consumer access to credit, promoting the value of the dealer franchise network and refocusing our efforts as a trade association to better serve our dealer members.”

More information about Industry Summit and P&A Leadership Summit is available at the events’ websites. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount.

To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is required or call 727-947-4027.

Posted in Summit UpdatesComments (0)

NADA Chairman to Headline Industry Summit


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that Bill Fox, 2015 chairman of the National Automobile Dealers Association (NADA), will deliver the evening keynote address at this year’s Industry Summit, which will be held Sept. 8–10, 2015, at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend the session.

“Bill Fox is a tireless advocate for his fellow dealers, among whom he is held in high regard as a voice of reason and leadership through good times and bad,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “We are honored to welcome him to Industry Summit.”

Fox is a partner in Fox Dealerships Inc., a group that represents nine brands in the Upstate New York cities of Auburn and Phoenix, as well as a licensed attorney. His NADA tenure began in 2006, when he joined the organization’s board of directors, and has continued through the Great Recession and innumerable regulatory and legislative challenges to the franchised dealership model.

“I’m honored to deliver keynote remarks at the Industry Summit, which brings together new-car dealers and their managers and others in the auto financing community to hear from industry experts on a variety of financing and retailing topics,” Fox said. “Our industry is constantly overcoming challenges while seeing new ones arise. Forums like this allow us to continue an open dialogue with our industry partners to discuss NADA’s top issues, which include protecting consumer access to credit, promoting the value of the dealer franchise network and refocusing our efforts as a trade association to better serve our dealer members.”

More information about Industry Summit and P&A Leadership Summit is available at the events’ websites. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount.

To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is required or call 727-947-4027.

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J.D. Power to Acquire NADA Used Car Guide


WESTLAKE VILLAGE, Calif. — J.D. Power and the National Automobile Dealers Association (NADA) have announced an agreement under which J.D. Power will acquire NADA’s Used Car Guide business, a well-known source of used-vehicle values. The transaction is expected to close early in the third quarter of 2015 and is subject to Hart–Scott–Rodino Act review.

Established by NADA in 1933, NADA Used Car Guide is a provider of U.S. retail, loan, trade-in and auction used-vehicle values, and is widely recognized in the industry as the authority for accurate and comprehensive used-vehicle valuation information. The company will remain based in the McLean, Va., vicinity where it serves more than 100,000 subscribing clients, including retailers, financial institutions, insurers and software providers.

“This deal is a perfect fit for dealers and NADA Used Car Guide customers. Under terms of the deal, NADA members will continue to receive a subscription to the Guide as a membership benefit,” said Peter Welch, president of NADA. “NADA and J.D. Power will continue to build upon our longstanding alliance by sharing data and insights, and bringing together retailers and leaders from the automakers, suppliers and the media at co-hosted conferences and events, offering thought leadership and solutions directly benefiting the retailer network and overall automotive industry.”

J.D. Power is a global marketing information services company known for using the voice of the customer to create reviews and ratings which measure the shopping, purchase and ownership experience across a wide range of brands and products. The Power Information Network (PIN) from J.D. Power provides real-time automotive information and decision-support tools based on the collection of daily new- and used-vehicle retail transactions.

“We are thrilled to add the NADA Used Car Guide and its vehicle valuation capabilities to J.D. Power,” said Finbarr O’Neill, president of J.D. Power. “NADA Used Car Guide analytical solutions will perfectly complement PIN’s expertise in new- and used- vehicle retail and pricing services, and we will gain an impressive array of integrated vehicle valuation solutions. The Guide’s high integrity and unbiased approach to used-vehicle values, analytics and insights fits perfectly with J.D. Power’s reputation as a trusted advisor to the automotive industry.”

The agreement brings together PIN, which combines advanced analytics of new- and used-vehicle retail sales and pricing data, with the complementary and extensive knowledge, expertise and market presence of the NADA Used Car Guide, thereby expanding J.D. Power’s analytical and modeling capabilities into new product offerings, deepening its presence in auto finance and auto insurance, and enriching retail solutions, officials said.

The NADA Used Car Guide name will be used by J.D. Power for a period of time before transitioning to the J.D. Power brand.

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