The Federal Reserve has reduced interest rates five times since January and may do so again soon. Unemployment is currently at 4.5 percent, up from 4.0 percent in December. Heavy subvention and incentives drove vehicle sales in the first quarter, while the second quarter saw a decline in these volumes. First Union, GE Capital, Key Bank and others continue to exit the automotive leasing industry. Venture capital expended, large numbers of Internet companies have gone out of business.
What's next? How will all of this impact the used-car and vehicle remarketing industry? What is on the horizon for companies involved in remarketing off-lease and used vehicles?
The economy and the Internet, each a key element of the vehicle remarketing industry, will be the focus of "iRemarketing 2001/The Economy," an executive conference within the 2001 Auto Remarketing Forum Series. iRemarketing 2001/The Economy will be held Sept. 9-11 at the Rosement Suites at O'Hare, in Chicago, Ill.
The conference will feature William Strauss, the senior economist and economic advisor for The Federal Reserve Bank of Chicago as a luncheon speaker on Monday, Sept. 10. Strauss is responsible for analyzing the current performance of both the Midwest economy and the manufacturing sector for use in montetary policy. He also organizes the bank's Auto Outlook Symposium and Economic Outlook Symposium, as well as produces the monthly Chicago Fed Midwest Manufacturing Index.
"The fall conference is traditionally the strongest and most popular conference within the Forum series, and iRemarketing 2001/The Economy is a highly educational program that will continue that tradition," said Ron Smith, conference chairman and publisher of Auto Remarketing Magazine and Auto Remarketing Weekly.
"It will be an outstanding conference with top industry professionals addressing issues relating to the economy, Internet and traditional vehicle remarketng," Smith said.
The first day of iRemarketing/The Economy will provide a heavy focus on the economy in general and of the used-vehicle industry in particular. In addition to Strauss, an economic roundtable discussion will be moderated by Paul Taylor of the National Automobile Dealers Association (NADA), and comprised of top industry economists including Tom Kontos, vice president of industry analysis, ADESA Corp., and Tom Webb, chief economist, Manheim Auctions.
Bill McIver, director of Internet remarketing for General Motors Acceptance Corp. (GMAC) and Tom Cornellier of the Ford PreOwned Showroom will anchor a manufacturer/captive session to discuss and debate relevant topics.
The first day will conclude with a panel of companies in the B2B remarketing space.
The second day is devoted to remarketing off-lease and used vehicles via the Internet, as well as traditional remarketing channels. A panel of auto auction industry executives will lead these discussions.
iRemarketing/The Economy will also feature an exhibit hall with booths and tabletop exhibits. ADESA Corp. is the conference's lead sponsor.
About the Auto Remarketing Forum Series
The Auto Remarketing Forum Series is a group of executive level, two-day conferences that provide narrow focus and in-depth discussion on pertinent issues in the used-vehicle remarketing arena. The series is produced by Auto Remarketing Magazine and Auto Remarketing Weekly.
Other 2001 Auto Remarketing Forum Series conferences included "The Auto Remarketing/Canada Conference," held in Toronto in April, and the two "End of Term Leasing Conferences" held in Orlando in May and in Denver in June.
