Women in Remarketing: Mona Spoon of Emkay

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 Mona Spoon, who is senior territory manager at Emkay.

Auto Remarketing: What is the top trend you’re watching in remarketing/wholesale automotive this year?

Mona Spoon: As a result of the recent and rapidly growing electric vehicle market, the evolution of EVs are proving to be the top trend this year in the remarketing/wholesale automotive industry. Although EVs have only just begun entering the market, they are quickly becoming one of the hottest conversation topics across the industry. EMKAY’s remarketing team is highly invested in learning all that we can about the growing EV market so that we can best advise our clients and identify the best remarketing strategies for used EVs when coming off lease. In addition, we are also staying up-to-date in monitoring the progress and reactions to the recent news of Carvana’s purchase of the ADESA auction chain.

AR: How has technology/innovation impacted your specifi c area of remarketing/wholesale the most?

Spoon: Following the onset of the pandemic, many dealers began purchasing their units online. As a result, this has increased EMKAY’s buyer base at multiple auction sites due to the dealers’ learning curve on locating EMKAY units at other auction locations, rather than just the local brick-and-mortar sale. I believe this “forced” use of online bidding has had a positive effect in the lanes and since there are more buyers for the tight inventory levels, used-car values have also remained high.

AR: What piece of career advice would you have for someone new to the industry?

Spoon: As a remarketer in the industry for over 20 years, my personal advice to someone entering the industry would be to stress the importance of getting out into the field and meeting in-person with the auction members working on the line each day. Networking is an important part of any business industry, but especially in the fleet leasing and auction business industries. It is imperative to learn each step of the auction process, how the auction functions, and how each aspect is tied to one another to ensure a smooth and efficient process for everyone.

AR: What is your proudest moment/accomplishment, career-wise?

Spoon: In reflection, my proudest moment career-wise was achieving the “Lifetime Certifi ed Automotive Remarketing” certificate. The knowledge that I have gained in remarketing and the overall business throughout the training program has been invaluable. However, as the industry is always changing, I look forward to continuing education to ensure I stay current and up-to-date on the latest trends.