400+ Remarketers Attend Conference of Automotive Remarketing (CAR) in Las Vegas
CAR 2004 attracted standing room only attendance as 409
remarketers attended the conference at the Mandalay Bay Hotel and Casino
in Las Vegas.
The 9th annual Conference of Automotive Remarketing (CAR), known throughout the
industry as the consignor's show, attracted 409 remarketers to the annual meeting
which was held at the Mandalay Bay Resort in Las Vegas on Jan. 21-23.
Attendees included a who's who of remarketers, representing 14 auto manufacturers,
26 financial institutions, 12 major car rental companies, nine of the 10 largest
fleet management companies, the three major auction chains, and independent
The opening day keynote speaker was Don Esmond, senior vice president and general
manager, Toyota Division, His presentation was entitled "The Perfect Storm,"
in which Esmond recapped the convergence of events that swamped the used-car
business with stagnant prices, overly optimistic residual projections, and a
deluge of off-lease vehicles. Esmond predicted a rebound in used vehicle values
as a result of the decreasing number of off-lease vehicles entering the wholesale
market, rising consumer confidence, an improving national economy, and the country's
growing population. In addition, Esmond cited the growth in high-income households
with greater discretionary income and the increase in the number of vehicles
that are owned by the average family. Esmond said Toyota is forecasting 2004
calendar year new-vehicle sales to be between 16.9-17 million units. "This
would tie the third best sales year ever," he said. Esmond went on to predict
that 17 million new vehicle sales will become the new industry norm, with peaks
in the 20 million range. "Since used vehicle sales are two-and-a-half times
as large as new vehicle sales, this would represent annual sales of 50 million
used vehicles," said Esmond. Currently, annual used vehicle sales are in
the 40-million-unit range.
Charlie Vogelheim (right), executive editor of Kelley
Bluebook, presents Michael Addison, president of Dealers Auto Exchange,
with the “Own a Ranch for a Week” in Steamboat Springs, Colo.,
prize which he won at CAR 2004.
The lunch keynote speaker was Rob Chesney, director, national sales of eBay Motors,
who spoke of the growth of eBay Motors and how remarketers are selling used vehicles
from the consumer web site. Chesney joined eBay Motors in September 2001, and
is responsible for all sales and new business efforts. Previously, he was the
director of business development with TradeOut.com, where he was instrumental
in developing the business-to-business online marketplace providing auto dealers
the opportunity to source inventory directly from financial institutions and rental-car
The second day keynoter was Chip Perry, president and CEO of AutoTrader.com.
Perry said that currently 13 automotive brands were using the site, with 16,000
participating dealers, and 239,000 registered vehicles. Perry reported that
AutoTrader.com usage increased more than 20 percent over the prior year.
Among the other presenters at CAR 2004 were: Jeff Heichel of GM, Mike McHale
of GMAC, Linda Silverstein of Ford, Keith Helfrich of DaimlerChysler, Kent Pace
of Toyota Financial Services, Bob Graham of ARI, Layne Weber of Donlen, Dave
Langley of American Honda Finance Corp., Brent Sergot of CenterOne Financial
Services, Steve Wallerstein of Subaru, and 53 other speakers.
Ed Bobit, CEO of Bobit Publishing in Torrance, Calif., congratulates
Jay Doyle (right), U.S. regional manager of TIQ TOQ, after winning the Oceania
Cruise prize at CAR 2004.
Two of the highlights of this year's conference were two prize giveaways. Jay
Doyle, U.S. regional manager of TIQ TOQ won an Oceania Cruise to an exotic destination
of his choice, which included Barcelona, Venice, and Rome, or the Greek Isles
to Istanbul. Another lucky winner was Michael Addison, president of Dealers
Auto Exchange, who won the prize “Own a Ranch for a Week.” Addison
will "own" a dude ranch in Steamboat Springs, Colo., for an entire
week of summertime activities as well as a private residence for up to eight
people. His activities will include: horseback riding, ATV rides, party barge
(pontoon boat), fishing, 2 1/2 days of white water rafting trips, passes to
the Hot Springs Health and Fitness Club located in Steamboat Springs, nature
walks, and elk and nature photo safaris. For details on giveaway locations go
to www.OceaniaCruises.com and www.Bearmountainranch.net.
Mark your calendars! CAR 2005 will take place on Feb. 16-18, 2005, at the Mandalay
Bay Resort in Las Vegas.