The 2013 International Automotive Remarketers Alliance (IARA) held its Summer Roundtable meeting August 20-21 at the Hyatt Regency in Dallas. This year’s event included 170 attendees.
This year, the event featured two Roundtable sessions. The first was moderated by Stuart Angert (retured), and was entitled, "As the Market Turns: What's Your Gameplan?" The roundtable addressed the challenges that exist in a market that has been historically demand-driven to one that is currently supply-driven.
The second roundtable was moderated by Becky Igo (Allied Solutions) and was entitled, "Consumer Finance & Protection Bureau (CFPB)." It discussed and explored the purpose and policy of the CFPB and how it may affect business processes. The session answered such questions as, is it real? And, who must comply? Is it just about lenders?
The Alliance reviewed its 2013 accomplishments, including the creation and growth of IARA Canada, integrating with the National Auto Auction Association (NAAA) on critical industry issues and to improve policy guidelines for arbitrations and online purchases, as well as a partnership with the NAAA to present survey results to improve the language in vehicle history reports.
The Alliance also announced a standard membership fee of $1,250 for all members, which is now being billed out annually in January.
The all-new IARA Canadian Committee was discussed, which currently consists of 24 companies and will continue to expand its membership base over the coming year.
The Education & Certification Committee provided an update on the Certified Automotive Remarketer (CAR) program. Starting in 2008, there are now 20 companies with at least one CAR graduate, 41 companies that support the certificate process, and 70 people who 0have successfully completed all 20 exams year-to-date. Finally, there are 120 people who have taken at least one module toward certification, so this group is sure to grow in the near future.
Chase Tidwell, VP, media services for the NIADA presented a session with an overview of the organization, and discussed its partnership with the NAAA and IAG, and reviewed some current industry trends, regulatory challenges, and auto remarketing challenges. Also announced was the merger of the NIADA’s Used Car Dealer magazine with NAAA’s On the Block newsletter.
The NAAA provided an update from Ira Silver, Ph.D., and NAAA economist. Silver discussed the slow GDP growth and its impact on the industry, and explained how slow growth does not quickly create the excesses that lead to recessions. He also discussed statistics on supply management, employment rates, the recovery of auto sales and the connection with new housing, and corporate profitability.
Mike Broe, president & CEO for AutoIMS presented a keynote presentation at the event on current vehicle buying trends. He discussed historical industry shifts, the 12x increase in buyers purchasing online (3,400 in 2003 vs. 41,000 in 2012) and the 34-percent increase in cars purchased via simulcast.