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LotLinx Names COO

Wednesday, 17 January 2018 23:02
LotLinx announced Gee Leung has joined the company as chief operating officer. Leung has been a trusted advisor to hundreds of digital media and technology companies over a career spanning multiple decades. Leung joins LotLinx as it transitions from an innovative start-up to an established technology leader in the automotive digital marketing sector.Leung began his technology career in the late 1990s, and had a front row seat during the early Internet technology boom. Most recently he served as partner at AGC Partners, one of the leading boutique technology investment banks in the country. Leung will work out of LotLinx’ newly expanded Chicago headquarters.“We are extremely pleased to add Gee’s caliber of experience to the team,” says Len Short, founder of LotLinx. “I am confident his energy and dynamic background will resonate with our customers, and our team will greatly benefit from his skillset and unique perspective.”

GM Wins Loyalty Honor

Wednesday, 17 January 2018 23:01
Business information provider IHS Markit has awarded General Motors Corporation the top honor in automotive manufacturer loyalty. IHS Markit honored winners in several categories, including General Motors for the top award, Overall Loyalty to Manufacturer – with a loyalty rate of 69.1 percent; and Ford brand for Overall Loyalty to Make – with a loyalty rate of 63.4 percent. IHS Markit analysis found that, with approximately 17.5 million new vehicle registrations during the 2017 model year, 53.6 percent of customers returned to market to purchase or lease another new vehicle from the same make they already owned. This represents a record loyalty rate and an increase of 0.8 percentage points from last year.Lincoln was found to be the brand with Highest Loyalty to Dealer, meaning, 48.5 percent of all Lincoln owners returned to a Lincoln dealer for another Lincoln in the 2017 model year. “Our Automotive Loyalty Awards program continues to demonstrate the focus automakers, brands and their dealer networks place on winning back and conquesting customers during a strong sales year that’s become even more competitive,” said Joe LaFeir, senior vice president, automotive, IHS Markit. Ford achieved the highest loyalty rate of all makes during the 2017 model year, winning the Overall Loyalty to Make award. The award for Highest Conquest Percentage for the 2017 model year went to Jeep. Toyota was honored for highest Ethnic Loyalty to Make among all ethnic groups combined, as it led in loyalty among all three ethnic groups – African American, Hispanic and Asian. Buick was named for Most Improved Loyalty to Make for the model year and Jaguar was recognized for Most Improved Conquest Percentage during the 2017 model year.

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Auction Veteran Passes Away

Wednesday, 17 January 2018 01:12
Auction veteran Kenneth “Kenny” Osborn died Jan. 10 at his home in Granbury, Texas.He was 65.Osborn is a past president of the National Auto Auction Association. He was inducted into the NAAA Hall of Fame in 2013 and was also an NAAA Warren Young Sr. Fellow.He started his automotive career in 1970 in a parts department working into used-car management.In 1980, Osborn became a partner in building a new venture of Tri-State Auto Auction with Richard Dupriest in Amarillo. The partners broke ground, wrote the software, and built the business from the ground up. At Tri-State, Osborn honed his talent for auctioneering. The partners expanded their auction business in New Mexico, acquiring the Albuquerque Auto Auction. They sold their stakes in both auctions to Anglo-American and Osborn became co-general manager of Albuquerque with Jerry Stiver. In New Mexico, Osborn went on to receive the New Mexico Independent Auto Dealers Association Horizon Award. When Anglo-American was bought by ADT Automotive, Osborn became general manager of Golden Gate Auto Auction in Fremont, Calif.He was named regional vice president of ADESA overseeing the Southwest region in 2001. In 2008, Osborn became the general manager of ADESA Dallas.Osborn recently retired.

Used Car Sales Top List of Complaints

Wednesday, 17 January 2018 01:12
Residents of Ohio complained to their attorney general about used car sales more than any other category.
Of the more than 22,000 consumer complaints filed in 2017, some 3,750 concerned used-car sales.
The next highest category, shopping online and in stores, had about 1,170 complaints.
The Consumer Protection Section of the attorney general’s office tracks complaints in several general categories for reporting purposes. In 2017, the top category overall was motor vehicles.

 

Auctions Across America Fall 2017