The International Automotive Remarketers Alliance will hold its first membership meeting during the National Auto Auction Association 53rd annual convention in San Francisco, Oct. 2-7, said Dave Langley, the group's president. Langley is national manager of vehicle remarketing at American Honda Finance.
The popularity of vehicle leasing, coupled with losses on residual values, has made vehicle remarketing an important part of the auto industry. The group's goal is to help the remarketing industry maximize its return on the used vehicles it sells.
"We feel we need a unified voice for our piece of the industry," Langley said.
The alliance consists of remarketing professionals from 22 companies including auto, captive finance and rental car companies; banks and other financial institutions. But not every auto company is a member. Ford Motor Co., DaimlerChrysler and American Suzuki Motor Co. are members of the alliance; Toyota Motor Sales U.S.A. and General Motors are not.
"We're (going) after them all," Langley said.
Other companies associated with the remarketing industry, such as auction and vehicle transportation companies, are welcome as associate members, Langley said.
The alliance, which will meet twice a year, will outline and prioritize its major concerns at its first meeting.
The group plans to develop educational and training programs for people interested in remarketing and for those in the business who want to sharpen their skills. He said it also plans to create a lobbying body to address legislative issues, will develop a remarketer's code of conduct and will work closely with the auction industry.
Said Langley: "We have a lot of work to do, and we are excited about putting this organization together."