LAS VEGAS – More than 500 industry professionals attended the recent 2007 Conference of Automotive Remarketing (CAR), which featured an array of 18 presentations and panel discussions focusing on the current and future state of vehicle remarketing in the U.S.
Held at Caesars Palace Hotel Feb. 27-Mar. 1, the conference keynote address was delivered by Jim Sanfilippo, executive VP, AMCI Marketing and former General Motors executive. and 31-year industry veteran. In a wide-ranging presentation, the 31-year automotive industry veteran not only analyzed the industry’s future and its effect on used-car values, but also provided a historical view of trends, developments, and factors influencing the industry since the early 1900s.
In the most popular conference session, Jim Hallett, expected to return as ADESA president and CEO later this year, gave a “Personal Perspective on the Past, Present, and the Future.” He called for an industry standardized technology platform for vehicle remarketing, including descriptions, condition reports, and grading. In addition, he said the industry “needs greater competition” among its players, and encouraged the development of competitive services.
During a special ceremony, Dean Eisner, president and CEO of Manheim, was recognized as Remarketer of the Year, with George Largay accepting on his behalf. Stephen Houston, national VP of Wachovia Dealer Services and president of the International Automotive Remarketers Alliance (IARA), was named Consignor of the Year.
Other CAR speakers included Chip Perry, president and CEO of AutoTrader.com, who presented an overview of trends in technology that will further facilitate online vehicle remarketing. Steve Greenfield, Manheim, discussed globalization of the auction industry. David Sparks, director of the National Highway Traffic Safety Administration’s office of odometer fraud investigations, offered updates on the latest title washing and odometer fraud schemes.
Additional presentation topics included inventory management and the value of data mining. Stephen Houston presented the International Automotive Remarketers Alliance’s (IARA) 2007 initiatives and results from a study on establishing remarketing performance metrics. Greg Kobel, president of the National Auto Auction Association (NAAA), also presented his group’s 2007 initiatives, while Jay Fahrendorff, managing partner for ABC Minneapolis, reported on NAAA’s proposed vehicle grading standards.
Panel discussions covered such issues as factory consignors, upstream remarketing, institutional portfolio manager initiatives, trends in residual values, inspection processes, electronic titling, and increasing consignor business for vendors.Held in conjunction with CAR, the IARA staged its winter Roundtable series. Two discussion panels explored reconditioning methodology and remarketing salvage vehicles. The group’s Circle of Excellence Luncheon featured an address by Jim Hallett, and presentation of the Circle of Excellence award to Warren Young, “a pioneer in the auction and remarketing industries.”
More than 500 industry professional attended the 2007 Conference of Automotive Remarketing, Feb. 28-Mar. 1, in Las Vegas. The conference featured 18 presentations and panel discussions on a wide-ranging array of industry topics.