 |
|
| P.O. Box 431 6 Mulberry Lane Mt. Arlington, N.J. 07856 973-398-2774 Telephone 973-398-2731 Facsimile |
April 1, 2009 |
 Update email address
|
|
Letter from IARA's Executive Director
 |
|
| Matthew Marks IARA Executive Director |
Greetings and best wishes for a strengthening Spring and Summer Used Vehicle Market:
I am pleased to present the latest member update from the IARA. Thanks again to all our Committee member volunteers for their dedication and professional work.
- The IARA Winter Meeting at CAR2009.
Thank you industry supporters for your increased attendance versus the 2008 Winter Meeting. In this challenging economic climate we appreciate your selection of our event. It was nice to see everyone. Thanks and kudos go out to the IARA Education Committee who plans our events and the Board of Directors for their support of these meetings. The 2009 IARA Winter meeting kicked off with a Keynote breakfast address by Ralph Fisco, Toyota Financial Services, who presented a well received marketing program aimed at increasing a company’s remarketing effectiveness. Ralph is new to remarketing, but has 22 years with Toyota in numerous capacities.
Our mid morning industry session was lead by Dave Sutton, VW Credit, and Matt Arias, Manheim Technical Center. The topic was “Increasing the Effectiveness of Frame Damage Calls”. Dave and Matt presented several slides about the frame damage process, including a series of challenging test questions at the end. Dave also provided an A4 vehicle with frame damage for examination and education. Depending on the type of vehicle, one with a frame damage call can reduce its value by at least $1,000 or more. Accuracy is therefore imperative. This topic was the focus of one of our Roundtable sessions in Dallas last year and resulted in this excellent presentation. Frame damage will be a continuing topic for the IARA. We posted the frame damage test on the IARA website, so have a look.
The IARA Circle of Excellence Luncheon had overflow attendance and attendees were rewarded with a presentation of the COE Award to David Power, J.D. Power and Associates. Dave Alfonso, Kia Motors, made the excellent presentation on behalf of the IARA. David Power recounted how his family started the business literally out of the family garage and how, at first, many large automotive companies in the beginning did not take quality ratings very seriously. How times have changed for the better thanks to dedicated and visionary men such as David Power.
- IARA Consignor Profile
The IARA recently compiled a profile of its 19 consignor members with the following results. Results shown are the average unless otherwise noted.
A. Total vehicles remarketed past 12 months- 1.224 million.
B. Total sold values- $13.606 billion
C. Value per unit-$11,118
D. Frame Damage-7.7%
E. Years individual in industry-18
F. Years company has been in industry-28.5
Welcome to Hyundai Motor Finance Company, our newest Consignor member.
- Website Updates-
Recent additions to the IARA website, www.iaraonline.org include:
• Frame Damage Test
• State of Alliance-IARA 2009 Goals
• IARA Response to Market Challenges
- IARA Certified Automotive Remarketer (CAR) Graduates-
Ricky Beggs, Black Book
Dave Sutton, VW Credit
Sal Terranova, Carolina Auto Auction
Chris Wise, Charleston Auto Auction
CONGRATULATIONS!! GREAT WORK!!
There are currently 26 persons currently enrolled in the IARA Certification Program with several having taken exams at their local community colleges and several who are track to becoming IARA Certified at the IARA Summer meeting in August. Program details are found on the website at www.iaraonline.org. In addition, while at the website, please look at the IARA Northwood Remarketing courses designed for entry- level employees. Over 400 have utilized these courses to date.
- August Summer Roundtable- August-18/19, Chicago
Set your calendars now for August 18th and 19th in downtown Chicago at the Fairmont Hotel. Chicago is a fun city and has a lot to offer including being the home of many consignors in the nearby suburbs. We are also planning a Certification Workshop and Testing session on the morning of Thursday, August 20th. You must let us know when you register if you want to participate in this workshop. Please contact me if you would like to be a member of the Education Committee that is planning the 2009 Summer Roundtable meeting.
- IARA Remarketing Industry Activities
A. The IARA will endorse a standardized arbitration policy very soon. We are working with the NAAA to incorporate some recommended changes. The input and many suggestions from IARA members are appreciated. This is another initiative that began as an IARA Roundtable item at last summer’s meeting in Dallas and will help increase the efficiencies in the remarketing process.
B. The IARA 2008 Remarketing Industry Performance Measurement Survey will be completed soon. This survey will provide data that will enable performance comparisons. Thank you to all survey participants. We plan to report this survey at our August Summer Meeting.
In closing, everyone’s continued support of IARA is appreciated. We are always open to suggestions and comments to strengthen the remarketing industry. Mark the calendar now for August 18/19 in Chicago for the 2009 IARA Summer Roundtable Meeting. Best Wishes and Warm Regards
Best regards,
Matthew Marks
Executive Director
International Automotive Remarketers Alliance