Mississippi AUTO DEALER Pub. 1 2023 Issue 3 MEET THE CHAIR Trudy Moody of Mercedes-Benz of Jackson
10543 South Glenstone Place, Baton Rouge, LA 70810 • 225-769-9923 • theversantgroup.com MADA'S ENDORSED F+I PROVIDER OF PRODUCTS, TRAINING AND INCOME DEVELOPMENT A FEW OF OUR 50+ TEAM MEMBERS: Keith Decell President Jason Rasti Executive Vice President Cole Miller Director of Training Kenny Roberts Territory Manager Central MS Brandon Choina Territory Manager South MS Michael McLellan Regional Manager - MS Shelley Cavin Client Relations Manager Sunny Mayhall General Counsel
©2023 Mississippi Automobile Dealers Association (MADA) | The newsLINK Group, LLC. All rights reserved. Mississippi Auto Dealer is published four times each year by The newsLINK Group, LLC for the MADA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the MADA, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Mississippi Auto Dealer is a collective work, and as such, some articles are submitted by authors who are independent of MADA. While Mississippi Auto Dealer encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at 855.747.4003. 18 22 4 Chair’s Report What’s Next for MADA By Trudy Moody, MADA Chair MEET THE 2023-2024 MADA CHAIR, TRUDY MOODY 8 MADA Board of Directors 2023-2024 10 Convention Highlights 2023 12 Thank You Sponsors 2023 13 Save the Date June 23-26, 2024 14 Dealers Show Appreciation for Governor Tate Reeves 16 New Laws Important to Dealerships Effective July 1, 2023 18 Kirk Auto Company Celebrates 50 Years! 20 MADA Big Winner in Primary Elections 21 Michael Joe Cannon Re-elected as NADA Director 21 Mississippi Business Group Includes Car Dealer Legislation on Annual Scorecard Vote 22 The Versant Group For Dealers, By Dealers 24 International Truck Names Waters Group as the 2022 North American Truck Dealer of the Year and a 2022 Presidential Award Winner 6 CONTENTSPub. 1 2023 Issue 3 3
II am truly honored to serve as Chair of the Mississippi Automobile Dealers Association. Leading the organization that works to promote, advance and protect franchised automobile dealers is a big responsibility, and I am looking forward to the challenge. MADA has a committed Board of Directors that works hard on the issues important to our dealers. Together, we can grow our association and represent the dealerships and communities we serve. Our car dealerships are important to Mississippi as our citizens depend on us to meet their essential transportation needs. Our 218 dealerships provide over 18,000 jobs with $8.2 billion in sales. I have served on the MADA Board of Directors since 2016 and have seen firsthand how much can be accomplished by having a unified and strong dealer body. Governor Tate Reeves signing HB 401 into law was a major victory that will keep manufacturers from unfairly competing against dealers and, more importantly, help car buyers and the communities we serve. But it does not stop with HB 401. Operation 47 has given us a law where manufacturers are required to pay dealers retail for parts and labor on warranty work. MADA led the effort to eliminate the June double tax payment. Because of our association, we now have protection from the manufacturer when we I want to focus this year on continuing to strengthen and build our organization. build a new dealership or perform a facility upgrade. Title washing is no longer allowed in Mississippi because of MADA. With this year being an election year, the MADA Auto PAC has been actively engaged in campaigns, supporting candidates that have been helpful to our legislative efforts. We are proudly working to help Governor Tate Reeves and Lieutenant Governor Delbert Hosemann get re-elected, along with numerous state senators and representatives. So, what is next for MADA? I grew up in my family’s dealerships in Florida, and I gained a clear understanding of the challenges of owning and managing a car dealership. There is one thing for certain in our business, and that is change is coming. We should all be concerned about the increasing and unreasonable demands from the factories. We do not have to look any further than the Ford Motor Company’s electric vehicle program launched last year. Under the Model E program to become a “certified elite” dealer, Ford dealers are required to install Level 3 chargers at their own expense for “the public” to use at their dealership. I want to focus this year on continuing to strengthen and build our organization. As a second-generation car dealer, it is important to me that we preserve our stores for future generations. I look forward to having a great year and hope you will let me know if there is anything that we can do to help. Chair’s Report What’s Next for MADA Trudy Moody, MADA Chair 4
MEET THE 2023‑2024 MADA CHAIR, TRUDY MOODY Trudy Moody started a yearlong term as the 2023-2024 MADA Chair. She has been an active and engaged member of the association for years and has served in a number of leadership positions. She is also the President at Mercedes-Benz of Jackson, MS, and Mercedes-Benz of Collierville, TN. She has been married to her husband, Ed Moody, for 32 years. When she’s not working, Trudy and her husband enjoy quail hunting with their bird dogs and raising horses. They have three children who all compete in English horse jumping competitions and are looking forward to joining the family business someday. MADA recently sat down with Trudy and got to know more about her thoughts on the current state of the industry, what she’d like to accomplish as Chair and mentoring the next generation of dealers. We would like to thank Trudy for her time. The following are excerpts from our conversation. We hope you enjoy getting to know more about her as much as we did. What are the biggest issues facing the auto industry? To me, the biggest issue that dealers are facing is the need for a fair and feasible plan to transition dealerships to selling EVs. Right now, there are some pretty unreasonable demands being put on dealers, most specifically with the Ford EV charger mandate. The financial burden of updating electrical infrastructure is currently on the dealers. It is such a hardship, especially for the smaller, rural dealers. Manufacturers, the government and independent charging station operators need to share the cost of transitioning and updating infrastructure; the responsibility shouldn’t be borne by the dealers alone. Finding a way for it to be fair, especially for the smaller dealers, needs to happen. Another challenge dealers face is the many industry changes that are happening and staying up to date on them. One thing that we, as dealers, have always done is to adjust, change and stay extremely adaptable; this has allowed us to be very competitive in the marketplace. But there are so many things changing right now, especially with the move to electric vehicles and over-the-air updates. That’s a concern of mine. Dealers need to stay at the forefront and in the loop, especially on the accessory sales side. Why is the franchise system still the best way to sell cars? The franchise system creates healthy competition, which the consumer directly benefits from. I believe that if that system is not in place, the consumer will pay higher prices and receive a much lower level of customer care, which is not the message that the direct sellers put forth. The main goal of dealers is to take care of the customer. We’re in the customer service business. Manufacturers have a mission to provide a return for their shareholders. We have a very different perspective. I see it every day. Manufacturers will say no, and then we fight for the consumer and get things done for them. So if we weren’t in the picture, it would be a lot harder for our consumers to get what they truly want. How do you think the industry will change in the next 3-5 years? I think there’s going to be a lot more demand for EVs. That is something we’re all going to be dealing with, as well as updating our charging infrastructure. Internal Combustion Engine vehicles will be relevant for a long time, especially in states like Mississippi, where consumers drive long distances and the charging infrastructure isn’t robust right now. Getting the infrastructure into place will help consumer demand, along with better vehicle range. How long have you been a MADA member, and how did you get involved in a leadership role within MADA? I have been a member for 16 years, and I’ve been on the Board of Directors since 2016. When I was a general manager, I was just focused on car sales, service and meeting our goals. As I progressed in my career and “I’m All In This Year!” 6
had a little bit more time to think about the bigger picture, I felt that I needed to learn more about government regulations. So, I became more involved with the association. I could see how critical the work they were doing was and, as issues were coming to light, how, together, we could make a big impact. I thought about all the people who have served before me — especially my father, Dennis Higginbotham; I learned from his example of service. I appreciate the work they did, and I thought it was my time: “I’ve got the bandwidth; let me serve.” What do you see as the biggest benefit of being a member of MADA? Networking has been a tremendous benefit to me personally. I’ve enjoyed getting to know our association President and the people within our Motor Vehicle Commission. They directly influence our business in such a positive way. Getting to know fellow dealers has been a huge benefit as well. Being around other dealers who love the business and realize what a benefit the dealer network is to the state of Mississippi is inspiring. There was a lot of work that went into helping to pass House Bill 401 this year. During the prior two or three years leading up to the bill’s passing, I was able to be a part of that work, as were many of our dealers. This win is so rewarding and gives such a great sense of accomplishment. I think about myself as a young dealer and not really appreciating what the state association did. It makes me happy to think about some of the young dealers who might not have been involved, but as they progress in their careers, they’re going to look back and say, “Wow, that was really important; let me get involved, serve and pay it forward for the next generation.” Our efforts benefit future generations. The MADA PAC benefits dealers. This year, our PAC has been very engaged in campaigns and supporting candidates that have been very helpful to our legislative efforts. We’re proudly working with Governor Tate Reeves and Lieutenant Governor Delbert Hoseman to get re‑elected, along with numerous State Senators and Representatives. We’ve made a huge impact by supporting those elected officials who support the franchise system and keep our businesses strong for the next generations. What are your goals as Chair? I want to ensure that MADA stays prepared to defend our franchise system. I also want to engage more dealers and the next generation and our association’s work. We need to preserve our dealerships for future generations. My teenage children are all interested in being car dealers; that’s why I get up in the morning and do what I do — to ensure I have a strong third generation. I’m so proud of the work the association has done to help me make that goal a reality, and I’d like that for all of our dealers. What help do you need from members to accomplish those goals? MADA membership is awesome. Anytime we ask them to get involved and make calls with their legislators, they always step up. So, I guess I would ask for just a little bit more support. I would like them to get their successors and the next generation involved in the association’s efforts. We have some ideas on how to make that happen this year, inviting them to spend time at the Capitol during the legislative session so they can see exactly what’s going on and the impact we can make. But we need members’ help to accomplish this goal. What do you plan to do to help members? I’m committed to doing the work, to doing everything that I possibly can to support our dealers and the franchise system. I’m so proud to be able to do it — I’m all in this year! Have you had any mentors? What did you learn from them? I would say it would be my father. He has been my mentor my whole life and always had confidence in me to come into the business and take on leadership roles. There was never a question about being a female or being young. I was a General Manager when I was 24 years old. He’s always been a big supporter and knew I could rise to the occasion. I am blessed to be able to work alongside my father, as well as my brother, Wallis Higginbotham. I understand the value of a family-run, multi-generational dealership business. When you mentor others, what are three pieces of advice you would share? 1. Make the right decisions for the long term, not just the short term. Any decision needs to benefit the customer first. The question I often ask myself is: Does this benefit the customer? And if that answer is yes, it’s going to help us in the long term. 2. Do everything possible to create a great working environment for your employees as well as a career path. If customers are happy and our employees have a great work environment, then everything else falls into place. 3. Support the community. Dealers do such a great job with this. Being a Mercedes dealer, I’ve competed against Tesla for years, and I really don’t see any involvement in the community from them. They’re a huge company and could do so much, but don’t. We’re just one Mercedes dealer, and I see the impact that I make and the things I do as well as my fellow dealers in the area. 7
MADA BOARD OF DIRECTORS 2023-2024 CHAIR Trudy Moody Mercedes-Benz of Jackson Ridgeland Michelle Chapman Homer Skelton Ford Olive Branch Gary Dodson Cadillac of Jackson, Hallmark Hyundai Ridgeland and Flowood Drew Estabrook Cannon Ford Pascagoula CHAIR-ELECT Paxton King Stan King GM Superstore Brookhaven Drew DePriest All Star Chevrolet Olive Branch Mike Gregory Triple M Motors Carthage Bo Mandal Mandal Automotive D’Iberville SECRETARYTREASURER Jeff Smith Crossroads Chevrolet Tupelo Cannon Kirk Kirk Auto Company Grenada Phil Moore Phil Moore Buick GMC Jackson Jared Waldrop Pine Belt Chevrolet Buick Hattiesburg IMMEDIATE PAST CHAIRMAN Jeff Field Landers Auto Group Southaven NADA DIRECTOR Michael Joe Cannon Cannon Motors Oxford NORTHERN DISTRICT CENTRAL DISTRICT SOUTHERN DISTRICT 8
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T CONVENTION HIGHLIGHTS The Alabama | Mississippi | Tennessee 2023 New Car and Truck Dealers Convention was a huge success. It was the largest attendance ever for the three states with over 650 dealers, industry partners and guests. The meeting was full of great speakers: • Paul Metrey, NADA Sr. Vice President Regulatory Affairs: “Navigating the Storm; Addressing the Challengers of Today’s Regulatory Environment” • Charlie Chesbrough, Sr. Economist, Cox Automotive: “Current Vehicle Market Assessment & Sales Forecast for the Automotive Industry” • Lonnie Mayne, the author of Red Shoes Living: “Stand Out for the Positive in How You Live” In addition, Chairman Jeff Field led the MADA Board of Directors meeting. The gavel was passed to Trudy Moody, who will serve as the 2023-2024 Chair of the Board of Directors. Paxton King was elected as Chair-Elect, and Jeff Smith will serve as Secretary-Treasurer. 10
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PLATINUM SPONSORS DIAMOND SPONSORS SILVER SPONSORS GOLD SPONSORS 12
• Labor Relations • Employee handbooks • Employment Law Counseling and Litigation • HR Policies and procedures • Independent contractor issues • OSHA Compliance and defense • Purchasing or selling a dealership • Staffing and contingent workers • Workers’ Compensation • Wage and hour law Steve Cupp Partner | Gulfport/New Orleans 228.822.1440 scupp@fisherphillips.com Fisher Phillips brings valuable legal counsel to MADA members. Our labor and employment law firm offers auto dealerships the following services: A driving force in labor and employment law for more than 70 years. fisherphillips.com 2505 14th Street | Suite 300 | Gulfport, MS 39501 ALABAMA | MISSISSIPPI | TENNESSEE 2024 NEW CAR AND TRUCK DEALERS CONVENTION Sandestin Beach Hilton Golf Resort and Spa Miramar Beach, Florida Save the Date JUNE 23-26, 2024 13
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Dealers Show Appreciation for Governor Tate Reeves MADA hosted an appreciation luncheon for Governor Tate Reeves in Jackson. Dealers from across the state took the opportunity to personally thank the Governor for his support of issues that are important to the franchised automobile dealers. The highly successful event raised $62,500 for Governor Reeves. $20,000 was contributed from the MADA Auto PAC, and the balance came from individual contributions. Governor Reeves has been very supportive of automobile dealers, including signing the most important legislation that MADA has ever supported (HB 401). In addition to signing HB 401 this year, the Governor has stood strong on the following issues: • OPERATION 47 (signing the new warranty reimbursement law) • Keeping dealership sales and service operations open during shelter-in-place orders • Signing the law removing the June accelerated sales tax payment • Signing the COVID-19 liability protection bill last year, which is still in force today • Appointments to the Mississippi Motor Vehicle Commission CONTRIBUTORS Jonathan Allen J. Allen Toyota Roger Bacon Mossy of Picayune Mike Beebe Rainbow Chrysler Dodge Jeep Ram of McComb Jeb Blackburn Blackburn Motor Company Dwayne Blackmon Dwayne Blackmon Chevrolet John Burns CCMSI Michael Joe Cannon Cannon Motors Chris and Cassidy Carr Mazda of Jackson James Ceranti James Ceranti Motors Larry Clark Larry Clark Chevrolet Buick GMC Keith Decell The Versant Group Drew DePriest All-Star Chevrolet Gary Dodson Cadillac of Jackson Rudy Dossett Dossett Big 4 Jeff Field Landers Automotive Group Stephen Franks Franks Chevrolet Mike Gregory Triple M Motors Bill Griffis Griffis Motors Mack Grubbs Mack Grubbs Hyundai Reed Howell Herrin-Gear Paxton King Stan King GM Superstore Cannon Kirk Kirk Auto Group Bo Mandal Mandal Buick GMC Walt Massey Walt Massey Automotive Group Cliff Mitchell Gray-Daniels Auto Group Trudy Moody Mercedes-Benz of Jackson Phil Moore Phil Moore Buick GMC Charles Rigdon Columbus Nissan Jeff Smith Crossroads Chevrolet Buick GMC Michael Van Veckhoven New South Ford Jared Waldrop Pine Belt Chevrolet Mike Whatley Mike Whatley Honda Doug Wilson Wilson Kia 15
NEW LAWS IMPORTANT TO DEALERSHIPS Effective July 1, 2023 MANUFACTURERS’ OWNERSHIP OF DEALERSHIPS Beginning July 1, 2023, HB 401 states that manufacturers cannot apply for a dealership license at the Mississippi Motor Vehicle Commission. Why Is This Important to Dealers? Without this law, any automobile manufacturer (Ford, GM, CDJR, etc.) could form an LLC with the Secretary of State and apply for a dealer’s license. HB 401 prevents an automotive manufacturer from having an unfair competitive advantage and also helps the consumer by preventing monopolies by manufacturers. What Does the Law Do? Automobile manufacturers cannot do any of the following: • Own any ownership interest in, operate or control any motor vehicle dealer or dealership in the state for the same type of classification of motor vehicle that it manufactures or distributes • Apply for a motor vehicle dealer’s license • Be licensed as a new motor vehicle dealer in the state The Tesla corporate-owned store that received a dealer’s license in 2021 will be allowed to keep its current location. This Is Important to Dealers That Are Putting Charging Stations in Public HB 1060 will allow dealerships to charge by the kilowatt hour for a customer using a charger located at the store. Without this legislation, it was illegal to resale electricity in Mississippi except for public utilities. 16
For Dealers Wanting To Fully Expense Long-Term Assets HB 1733 will allow businesses to fully expense longer-term assets in the year that they were put into service, rather than doing so over time. In 2017, the federal Tax Cuts and Jobs Act temporarily made this possible at the federal level, but that is set to phase back out over the next five years. Clarification on Taxing Software by the Department of Revenue SB 2449 preserves the state’s historical approach to taxing these items based on physical location while also addressing many important ancillary and compliance issues. Notably, the legislation codifies the Department of Revenue’s existing regulation that “computer software maintained on a server located outside the state and accessible for use only via the Internet is not a taxable retail sale.” It clarifies that Mississippi only taxes software that is physically downloaded or delivered into the state and excludes remote cloudbased applications. It takes a similar approach in taxing only those computer software services actually performed within the state, so computer support activities performed remotely would not fall within the scope of the tax. With the passage of HB 1733, Mississippi businesses will be able to depreciate their assets in a more expedient manner, with no real impact on state revenue. Contact Donna Allen at CCMSI | 601.608.1001 | dallen@ccmsi.com Celebrating 26 Years of Service! • CCMSI has handled the MADASIFs workers’ compensation claims since July 1997 • Representing New and Used Car Dealers in the State of Mississippi • Including Underwriting, Policy Issuance, Policy Service, Premium Collection, Audits, Financials, and Loss Control • Directly Written or with an Agent/Agency Workers’ Compensation Program Chairman Walt Massey, Lucedale Vice Chairman Roger Bacon, Picayune 17
KIRK AUTO COMPANY CELEBRATES 50 YEARS! 18
This year marks the 50th anniversary of Kirk Auto Company. With 15 locations serving the Grenada, MS, area, they are celebrating their years of success with a little help from the community in the “Through the Decades Classic Car Competition.” Anyone who has purchased a car from Kirk Auto is encouraged to bring it in for a chance to win a cash prize. The older the car, the more money that can be awarded. “We want to bring people out that still own the cars that they bought from us. The oldest one we have right now is from the 70s. We have several from the 80s and 90s as well,” said Cannon Kirk, Owner of Kirk Auto Company. Community involvement and showing appreciation to the customer is important to Cannon. He proudly shared, “There are families in our community that we have sold cars to for four generations.” He continued, “I started selling cars at a young age. Some of the people whom I sold my first cars to, now I’m selling to their great grandkids.” As a second-generation dealer, Cannon is proud to carry on the tradition of commitment to the customer and community that his father, Dynamite Kirk, set. Among other accolades, Kirk has been recognized by Ford and presented with the Blue Oval Award and many President’s Awards for customer satisfaction. In 1967, Dynamite was employed by a local contractor doing dirt work. Dynamite drove heavy equipment, motor graders, scrapers and bulldozers. After four years of dirt work, Jesse Ferguson was in the process of buying Chevrolet from Cliff Colbert Chevrolet. He approached Dynamite and said, “I see a lot of talent in you. You need to be selling cars.” Dynamite was hired and sold cars for five years. Then, on July 5, 1973, he purchased the local Ford dealership with a partner. Dynamite made work a family affair. At the age of three, Cannon remembers hiding under cars and playing around the lot, and he knew that he wanted to follow in his father’s footsteps. After graduating from college in 1991, he went to work with his father. In 1993, Cannon took over the day-to-day operations and has kept the momentum going. In 2010, Cannon and his brother, Scott Kirk, bought their father out. Then in 2021, Cannon bought out his brother. Today, Kirk Auto Company’s 15 locations include new and used car stores and a power sports store. Cannon’s two sons, Tyler and Morgan, have joined their father in business. Morgan is a Sales Manager, and Tyler is the General Manager of two stores. Steve Woods, a longtime employee of Kirk Auto Company, sums up the company’s point of view nicely: “It’s not so much selling a person an automobile the first time, it’s the next time and the next time … If we don’t feel confident that you’ll buy your next car from us, then we haven’t done our job.” Congratulations, Kirk Auto Company … here’s to 50 more amazing years! 19
Among the winners were MADA-endorsed candidates Governor Tate Reeves and Lieutenant Governor Delbert Hosemann. Tate Reeves easily won his primary race with 75% of the vote. As expected, the Lieutenant Governor’s race was the statewide contest drawing the most attention. MADA strongly supported Delbert, who won with 52% of the vote. The challenger, Chris McDaniel, received 43% of the vote. As a reminder, Chris was one of eight state senators that had received an F on the MADA report card. MADA participated in 43 legislative races, winning all but three. Two of the races are headed to run-off. MADA also had a big win in HD 10, where challenger Josh Hawkins beat incumbent Brady Williamson. Brady scored an F on the MADA report card voting against car dealer supported legislation. MADA participated in seven open seat races. MADA backed winners in all the races with one runoff. A big thank you goes out to MADA Auto PAC Chairman Roger Bacon. Because of dealers’ support of MADA Auto PAC, we are able to make significant contributions in the 2023 races. MADA won big in the primary elections, backing candidates for statewide office and the legislature. To see the election results for MADAsupported candidates, scan the QR code. https://www.madaonline.com/advocacy MADA Big Winner in Primary Elections 20
The MADA membership has re-elected Michael Joe Cannon for his third term as the Mississippi NADA Director. The new term begins in conjunction with the NADA annual convention to be held in February 2024 in Las Vegas. Michael Joe is the owner of Cannon Motors of Mississippi. The former college football coach started in the automotive business working at his dad’s used car lot in Calhoun City. Now, his company owns 17 dealerships in Mississippi. Giving back to the industry is something Michael Joe has made a priority in his busy schedule. He currently serves on the MADA Board of Directors as the NADA Director. Michael Joe has held every elected position at MADA, including Chairman from 20112012. In 2013, he was chosen as the TIME Dealer of the Year for Mississippi. That leadership role exposed him to NADA, and he saw firsthand the importance of participating on a national level. Representing the views of his fellow dealers in Mississippi is always at the forefront when serving on the NADA Board. While serving as the Mississippi Director, Michael Joe has served in numerous leadership positions, including NADA Show Chairman. Additionally, he has served on the Dealership Operations, Industry Relations, Regulatory Affairs and Public Affairs committees, where he also served as Chairman. Mississippi Business Group Includes Car Dealer Legislation on Annual Scorecard Vote A statewide independent business group, the Business and Industry Political Education Committee (BIPEC), has included car dealer legislation (HB 401) in their 2023 legislator scorecard. BIPEC was founded by Mississippi’s business and professional leaders to supply needed political research information. The organization’s annual performance evaluation is a measuring stick used to determine each legislator’s business philosophy, attitude and effectiveness in supporting the growth/ enhancement of jobs in Mississippi. Scan the QR code to view the BIPEC Scorecard. HB 401 helps Mississippi consumers that rely on automobile dealerships for their essential transportation needs. It also assures fair and equal rules for Mississippi dealers that contract with automotive manufacturers for dealerships. The franchised automobile industry in Mississippi creates over 18,000 jobs with a $613 million payroll. MICHAEL JOE CANNON RE-ELECTED as NADA Director https://www.bipec.org/ reportcards/2023/ 21
THE VERSANT GROUP For Dealers, By Dealers The Versant Group is an F&I provider that stands out from the competition. They offer a full suite of products such as vehicle service contracts, GAP, Tire & Wheel, Ceramic coatings, GPS, etc. However, the cornerstone of their business is the commitment to training and income development that they provide for their dealers. What also makes them unique is that they are owned by auto dealers and continue to allow new producing dealers to become shareholders. The mindset of “We don’t have clients; we have partners” has made this company second to none. Their dealer partners include almost 50% of the rooftops in Mississippi. They started in 1977 with Louisiana Dealer Services Insurance, Inc. (LDS). In 1999, the decision was made to expand to Mississippi. The Versant Group was formed by a group of Mississippi franchised dealers and has now expanded into other states such as Texas, Arkansas, Tennessee, South Carolina and Florida. After more than 23 years of serving dealers in Mississippi, The Versant Group is doing better than ever. The steady growth of the company resulted in needing a new building that would accommodate the now 58 team members. Located in Baton Rouge, the new building is 18,000 square feet. A lot of thought went into the design — from the high-tech training facilities to the large breakroom, an open-air balcony for relaxing and enjoying 22
For over 100 years, we’ve helped dealers like you serve your customers by providing the best-in-class products and services you need – and by remaining true to the automotive passion we share. With nearly 5,000 specialists dedicated to supporting dealer financial services, we can help you gain efficiencies, increase your product offerings, and work to improve per vehicle revenue. Let us help you unlock new levels of growth at your dealership. We’re all better off with an ally. Contact your local Account Executive or call 888-919-2559 to get started. $46 billion in consumer auto originations in 2022 Over 32,000 vehicles listed daily on SmartAuction A leading F&I provider What we offer. Retail finance Commercial finance F&I Remarketing Wholesale inventory finance Dealer loans exponenti Congrats, Reggie Willis! MEET THE TEAM KEITH DECELL President COLE MILLER Director of Training BRANDON CHOINA Territory Manager, South MS SHELLEY CAVIN Client Relations Manager JASON RASTI Executive Vice President KENNY ROBERTS Territory Manager, Central MS MICHAEL McLELLAN Regional Manager MS SUNNY MAYHALL General Counsel some fresh air and floor-to-ceiling wraparound windows. The building is tall, light and airy. The focus on employee satisfaction and happiness is a priority for management, resulting in very little employee turnover. The yearly Christmas party, employee appreciation days and trips to TopGolf create an atmosphere of appreciation that is passed on to every dealer partner. For the fourth year in a row, The Versant Group has been recognized as one of the “Best Places to Work” in Baton Rouge. And being owned by dealers, The Versant Group takes pride in its involvement with the Mississippi Automobile Dealers Association (MADA). “Every time MADA holds an area meeting, we’re there. Every time they need a sponsor, we support the association at a platinum level. We try to sponsor everything they do, whether it’s the area meetings, the annual convention, or political contributions; it all goes back to being owned by dealers,” said Keith Decell, President of The Versant Group. 23
International Truck Names WATERS GROUP as the 2022 North American Truck Dealer of the Year and a 2022 Presidential Award Winner Waters Group, a Mississippi-based International Truck, an IC Bus dealer group and longtime Mississippi Automobile Dealers Association member, has received the 2022 North American Truck Dealer of the Year for their commitment to providing industry-leading uptime and performance in annual sales, service and customer satisfaction. They currently operate six locations and employ more than 300 people. “Waters Group has a customer-first mindset that Navistar values in our dealers, and they have forged phenomenal relationships with local fleets, resulting in notable sales numbers,” said Jeff Felix, Group Vice President of Dealer Sales and Operations. “Because of their rich legacy, community involvement and family-oriented business model, we are proud to have them as one of the many successful dealerships in our vast dealer network.” In 2019, International Group also named Waters Group as a top three performing dealer group. Then in 2022, Waters Group sold nearly $21 million in parts, delivered more than 500 units to customers, and had three sales employees receive the Champions Club recognition and the customer advocate award. “A core goal of our company and a stated Waters family value is to achieve B.O.B. Excellence (best of the best) in all we do,” said David Waters, Dealer Principal of Waters Group. “This is a goal we set for each and every team member throughout our company. This was a tremendous team effort by all our employees and vendor partners that has allowed the Waters Group to be recognized. Most importantly, we appreciate our customers having faith and trust in us to serve their transportation needs.” Waters Group was also one of the winners of the 2022 Presidential Award for achieving the highest level of performance in terms of operating and financial standards, market representation and customer satisfaction. HISTORY Waters Truck and Tractor was founded in 1938 by Ray M. Waters, Sr. Since then, they have made it their mission to provide the highest level of customer satisfaction through supplying proper products, building relationships, timely service and integrity. They offer a wide variety of products to provide customized transportation solutions for their customers. 24
Their goal is always to be the best at whatever they do. The family’s third generation joined the company full-time in 1975 when Mike Waters finished college. The company expanded to Meridian in 1976 as Waters International Trucks. M.L. and David Waters joined the company a few years later. The second branch of Waters Truck and Tractor was opened in Kosciusko in 1982. Waters acquired and operated the Blue Bird Bus franchise from 19902000 and reached upwards of 97% bus market share in the company’s territory. The Blue Bird Bus franchise was dropped and replaced with the IC Bus franchise in 2000. Waters International Trucks opened a branch in Natchez in 2002 and Hattiesburg in 2007. A second location in Columbus called Waters Truck and Tire Service opened in 2009, and in 2022, a Tupelo location was acquired. The Waters companies have been a local Mississippi business for over 85 years. The tradition continues as the fourth generation now plays an integral part, with Michael, Vaughan and Josh Waters carrying on the family mission. ON AVERAGE, MS DEALERS ADD $64,176 IN PARTS UPLIFT ANNUALLY ARMATUS HAS COMPLETED OVER 12,000 SUBMISSIONS NATIONWIDE ON AVERAGE, MS DEALERS ADD $53,520 IN LABOR UPLIFT ANNUALLY ARMATUS WORKS WITH 32% OF MISSISSIPPI DEALERS OUR COMMITMENT TO OUR CLIENTS: ÙYou Won’t Lift a Finger: Armatus does all the work for you. ÙFully Contingent Fee: You only pay when you are approved. ÙSpeed and Accuracy: No one completes a submission faster. ÙOptimization: Proprietary software guarantees you the best result. (888) 477-2228 | info@dealeruplift.com WWW.DEALERUPLIFT.COM ENDORSED BY: If you have already completed a submission in-house or with another vendor, you may still have significant opportunities to gain more. If we can’t improve your results, you owe us nothing. Between our scientifically proven optimal results, and our speed of processing, we will literally pay our own fee. Reach out today for a no-obligation evaluation of your parts and labor rates. MS Dealer Magazine-HP AD.indd 1 2/9/23 11:35 AM 25
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Plan ahead for your dealership’s long-term legacy Setting up a succession plan is an important consideration for the future of your dealership. Now’s the time to think about your priorities, such as maintaining control, taxes, liquidity, employees and family. What would you like the power to do?® Learn more with our comprehensive overview of Dealer Financial Services Succession Planning at business.bofa.com/dealer. “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: | Are Not FDIC Insured | Are Not Bank Guaranteed| May Lose Value | ©2022 Bank of America Corporation. All rights reserved. 4882341 05-22-0512
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