Auto Remarketing is recognizing the 2022 Women in Remarketing honorees in the May issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website.
Next up is Janet Fedorowich, who is AVP of national dealer and commercial accounts at Manheim/Cox Automotive.
Auto Remarketing: What is the top trend you’re watching in remarketing/ wholesale automotive this year?
Janet Fedorowich: New-vehicle supply remains near historic lows with no relief in sight. Rising gas prices, chip shortages and inflation that’s threatening supply chains gives us tons of uncertainty in the automotive industry. One of the top trends being discussed is dealers fi nding new opportunities to buy consumer cars to increase vehicle supply. Another key trend is EV adoption and theories about who will dominate the electric auto market. Tesla has predominantly dominated; however, other OEMs are swiftly moving in. Evaluating battery life and the impact on resale values will be a huge priority as these vehicles enter the marketplace.
AR: How has technology/innovation impacted your specifi c area of remarketing/wholesale the most?
Fedorowich: Technology and innovation have allowed a hybrid selling model to become more acceptable. Buyers are more comfortable buying digitally with assurance programs that off er buyer guarantees. However, there remains a segment of vehicles where buyers prefer in-lane off erings so they can touch and inspect the vehicles. Innovative startup companies have disrupted the auction business by building platforms, without the cost of physical locations, that simplify the remarketing process, making things very competitive.
AR: What piece of career advice would you have for someone new to the industry?
Federowich: This amazing industry presents opportunities from all lines of business and, more than ever, we are promoting diversity to move this business forward. The automotive industry constantly evolves, and innovation and grit are required to remain a dominate player. Be ready to embrace change and take on risk while soaking up as much industry knowledge as possible. Always network and promote an inclusive environment to capitalize on differences that will allow you to be a better contributor.
AR: What is your proudest moment/accomplishment, career-wise?
Federowich: My proudest moment is the depth of the relationships I have built over the last 30-plus years working for Cox Automotive. I have had the privilege of working with both our national commercial and dealer accounts. By working with unique perspectives and strategies, I have been exposed to many challenges that have allowed me to be a trusted resource and assist in implementing change.
I am fortunate to have worked in various roles while learning from some of the fi nest leaders in the industry. Additionally, my leadership journey has allowed me to develop some of the best talent and it makes me extremely proud to witness them thriving both personally and professionally.
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