In era of tight new-car margins, retailers dream up ways to free up cash

In era of tight new-car margins, retailers dream up ways to free up cash https://ift.tt/2ToE03J

New-car margins don't pay the bills anymore. So what is a dealer to do? "Think about everything else ... new, used, F&I, parts and service," says Thomas England of DHG Dealerships.

Scaled-back Colorado EV bill clears Senate

Scaled-back Colorado EV bill clears Senate https://ift.tt/2uEavlX

The measure would allow Rivian and other EV makers to sell directly to consumers in the state, but legislators removed the most controversial provision that would have allowed all automakers to do the same. The state House takes it up next.

Automotive Client Retention

Cars.com reports Q4, 2019 net losses

Cars.com reports Q4, 2019 net losses https://ift.tt/2Pqg0vI

Excluding one-time items such as a $461 million strategic review charge, Cars.com said its adjusted net income for 2019 tumbled 23 percent to $104.2 million

Darwin's deal-sharing feature signals growing digitization of F&I sales

Darwin's deal-sharing feature signals growing digitization of F&I sales https://ift.tt/2T0JAtP

Several F&I software platforms, including RouteOne unit MaximTrak, have followed suit, launching technology that allows consumers to learn about F&I products and purchase coverage remotely. The additions signal digital retailing's growing influence over the F&I process.

AutoMatrix DMS integrates with insurance platform

AutoMatrix DMS integrates with insurance platform https://ift.tt/32uhdrb

Cover Genius' insurance and warranty platform is the first to integrate directly into a dealership management system.

Publics' F&I profits skyrocket in 2019

Publics' F&I profits skyrocket in 2019 https://ift.tt/32vHrJK

Some of the nation's largest retailers cited a variety of factors for the latest gains, including the success of branded F&I products, vendor partnerships, deeper product penetration and training. But several public dealership groups noted potential headwinds resulting from the industry pivot to used-vehicle sales.

Ford makes car insurance available on FordPass App

Ford makes car insurance available on FordPass App https://ift.tt/32swQzq

The product, which is underwritten by Nationwide Mutual Insurance and affiliates, launched last fall as Ford added its name to the list of companies leveraging consumers' driving habit data into discounts on auto insurance.

Steele Auto Group of Canada buys Texas dealership

Steele Auto Group of Canada buys Texas dealership https://ift.tt/2VsoWEV

CEO Rob Steele said the Nova Scotia-based dealership group will continue to scout opportunities in the Austin-San Antonio area after buying its first U.S. store.

Ford goes to court to rescind original GT sale in Canada

Ford goes to court to rescind original GT sale in Canada https://ift.tt/2w0VgUF

The rare sports car was resold at more than twice the price to a Hong Kong buyer within weeks of its original sale in Canada, despite  a two-year hold agreement, the automaker alleges in a lawsuit. 

Colorado bill would hurt franchised dealers

Colorado bill would hurt franchised dealers https://ift.tt/2Ph9S8U

The legislation, which is not supported by legacy automakers, would allow manufacturers to sell electric vehicles directly to consumers and cause lasting damage to franchised auto dealers.

Rivian seeks direct sales beyond Colorado

Rivian seeks direct sales beyond Colorado https://ift.tt/32kI9cV

As a legislative battle over automakers’ ability to sell EVs directly to consumers heats up in Denver, startup Rivian has received a dealer license in Arizona and says it's also considering Washington, Illinois, Massachusetts, California and Florida.

Letting loose at NADA

Letting loose at NADA https://ift.tt/2VfdLPx NADA Show in Las Vegas did not disappoint. From country music to cocktails to puppies, there was a little something for everyone.

Sonic ?back to a growth mode'

Sonic ?back to a growth mode' https://ift.tt/37Yt3ex

Sonic Automotive wants to grow its EchoPark standalone used-vehicle business to 25 stores in five years.

New truth of used profitability

New truth of used profitability https://ift.tt/3a36xlN

Despite retailing more used vehicles, dealers are making less money.

Colo. EV bill sparks rift among alliance members

Colo. EV bill sparks rift among alliance members https://ift.tt/2v9FxT3

The measure is an early test of unity among member of the newly formed Alliance for Automotive Innovation.

CDK works to improve support services for dealers

CDK works to improve support services for dealers https://ift.tt/2HNWJAd

CDK Global CEO Brian Krzanich says he tries to meet with dealers in person — even giving some his cellphone number — as the company works to improve customer service.

Casa de Cadillac keeps iconic status as brand image evolves

Casa de Cadillac keeps iconic status as brand image evolves https://ift.tt/2wIKDWT

Dealer Howard Drake has had to find a balance between meeting Cadillac's evolving brand standards and protecting his California dealership's landmark status, a pillar of famous Ventura Boulevard.

Marketing exec says dealers are missing a golden opportunity

Marketing exec says dealers are missing a golden opportunity https://ift.tt/2SRfb12 Boice, CEO of marketing firm Team Velocity, says dealers are failing to tap a potentially rich source of business. He says dealerships' returning customers should have online experiences that are relevant to their personal details and the cars they're driving.

Data, personalization key to creating omnichannel retail experience

Data, personalization key to creating omnichannel retail experience https://ift.tt/32l5wD1 is Amazon so successful? Experts say the company uses data to learn about its customers and then tailors recommendations for them. That shopping experience is headed for dealerships.

Chatbots give dealerships a way to stay connected

Chatbots give dealerships a way to stay connected https://ift.tt/2STs76G

Artificial intelligence has become a staple at U.S. dealerships. Often, it takes the form of chatbots following up on leads.

New plan helps Mass. retailer recruit, retain workers

New plan helps Mass. retailer recruit, retain workers https://ift.tt/2T8S94H

Dropping its traditional coverage cut Village Automotive's insurance costs by more than $300,000 while keeping employee contributions flat.

Dealer anniversary

Dealer anniversary https://ift.tt/2vXhh6D

The dealer featured this week is Jeff Lupient, dealer principal of Jim Lupient Infiniti in Minneapolis.

Chevy ramps up Corvette output to fill orders

Chevy ramps up Corvette output to fill orders https://ift.tt/2SPixBR

Annual capacity at the Corvette plant in Kentucky is about 80,000, and GM – after a delay caused by last year’s UAW strike -- is expected to build about 40,000 of the cars this year, according to LMC Automotive.

Chevy ramps up Corvette output to fill dealer, customer orders

Chevy ramps up Corvette output to fill dealer, customer orders https://ift.tt/2uiSOIq

Capacity at the Corvette plant in Kentucky is about 80,000 per year, and Chevy is expected to build about 40,000 of the cars this year, according to LMC Automotive.

China car sales plunge in first half of February

China car sales plunge in first half of February https://ift.tt/3bVFFWT

China car sales plunged 92 percent during the first two weeks of February as the coronavirus outbreak kept buyers away from showrooms. The China Passenger Car Association said deliveries this month may slide by about 70 percent.

U.S. dealership count drops for first time in six years, Urban Science reports

U.S. dealership count drops for first time in six years, Urban Science reports https://ift.tt/2SKPaAG

California posted the biggest decrease in dealerships in 2019, down 28 to 1,478, followed by Illinois with nine fewer, and Ohio and Missouri with seven fewer each.

TrueCar sees ?unexpected' end to USAA partnership; Q4 loss widens

TrueCar sees ?unexpected' end to USAA partnership; Q4 loss widens https://ift.tt/2VaRbYk

The break with USAA ends a 13-year relationship between TrueCar and the lender, which services U.S. military members and veterans.

Porsche reaches top of Consumer Reports' brand rankings; Tesla rises to 11th

Porsche reaches top of Consumer Reports' brand rankings; Tesla rises to 11th https://ift.tt/3bW3AFu

Hyundai's Genesis brand finished No. 2 in the rankings while Tesla surged eight spots to No. 11 -- the highest of any U.S.-based auto brand.

Selling cars has become more difficult than making them

Selling cars has become more difficult than making them https://ift.tt/2SNFUvH

As the deadly coronavirus outbreak wreaks havoc across the auto supply chain, there is hope that Beijing will throw around stimulus to get China Inc. through another rough patch. The cratering new-vehicle market could lead the government to support yet more sales incentives and other measures directed at consumers. 

U.S. dealership census drops for first time in six years

U.S. dealership census drops for first time in six years https://ift.tt/39Pxg5j

California posted the biggest decrease in dealerships in 2019, down 28 to 1,478, followed by Illinois with nine fewer, and Ohio and Missouri with seven fewer each.

CDK to sell digital marketing business to Ansira

CDK to sell digital marketing business to Ansira https://ift.tt/2vOzqn5 Global said the sale of its digital marketing business is expected to close in the first half of this year. Terms were not disclosed.

Selling cars has become worse than making them

Selling cars has become worse than making them https://ift.tt/2v14nEz

As the deadly coronavirus outbreak wreaks havoc across the auto supply chain, there is hope that Beijing will throw around stimulus to get China Inc. through another rough patch. The cratering car market could lead the government to support yet more sales incentives and other measures directed at consumers. 

Pendragon appoints former AutoNation boss Berman as CEO

Pendragon appoints former AutoNation boss Berman as CEO https://ift.tt/39JTaXE

Pendragon's new CEO, Bill Berman, must navigate the UK company through a tough period for the car industry that has seen a string of profit warnings from the company and its peers.

Online sales strategy incomplete without F&I expertise

Online sales strategy incomplete without F&I expertise https://ift.tt/3bRcJPS

While technology and software allow consumers to study financing terms and product options online, a digital strategy that omits the F&I step entirely is incomplete and a threat to the bottom line.

Sonic Automotive posts strong Q4 on same-store gains

Sonic Automotive posts strong Q4 on same-store gains https://ift.tt/38I7ccb

Sonic Automotive's revenue jumped 6.8 percent to $2.75 billion, as each part of the business posted gains except for wholesale vehicles.

Lithia buys two Lexus dealerships in California

Lithia buys two Lexus dealerships in California https://ift.tt/2v18vnX

The two stores being acquired by Lithia are the only Lexus dealerships in the Sacramento metro area, and both are Elite of Lexus award winners.

Sonic Automotive doubles Q4 net income

Sonic Automotive doubles Q4 net income https://ift.tt/2TaVkcr

Sonic Automotive's revenue jumped 6.8 percent to $2.75 billion, as each part of the business posted gains except for wholesale vehicles.

Nissan to test vehicle subscriptions in Houston

Nissan to test vehicle subscriptions in Houston https://ift.tt/39Nvn9e

The monthly membership, from $699 to $899 per month, includes unlimited vehicle swaps, as often as a vehicle a day.

Hyundai meeting draws dealer applause as brand shows upcoming products

Hyundai meeting draws dealer applause as brand shows upcoming products https://ift.tt/3bOGb8T

Jose Munoz, the new CEO of Hyundai Motor America, said he was thrilled with the dealer response to the automaker's North American product pipeline. "I'm really, really, really, happy today," he said.

Barra: GM and dealers work better together

Barra: GM and dealers work better together https://ift.tt/2P5yxxo

GM is focused on getting dealers -- large and small -- ready for the future, GM CEO Mary Barra told dealers.

Incoming NADA chairman: 'dealers thrive on disruption'

Incoming NADA chairman: 'dealers thrive on disruption' https://ift.tt/37zD0ii

2020 NADA Chairman Rhett Ricart used his inaugural address to reassure dealers that they'll "be just fine" as new technology and services transform the automotive industry.

UK's Cameron urges America not to alienate world allies with tariffs

UK's Cameron urges America not to alienate world allies with tariffs https://ift.tt/3bLxWdE U.K. Prime Minister David Cameron told auto dealers in Las Vegas that isolationism and tariffs were wrong, and hurt both the U.S. and the rest of the world.

On the show tour

On the show tour https://ift.tt/2UYnBoQ Ford, Ford Motor Co.'s chief customer experience officer, chats with NADA CEO Peter Welch as NADA officials walk the floor Saturday after the ribbon-cutting to open the expo.

?Being bossy ... is really important'

?Being bossy ... is really important' https://ift.tt/38BGTVg

Women should continue to voice their opinions to keep propelling the auto industry toward change, auto retail leaders said on a panel Saturday.

CEO says Subaru will support retailers on service capacity

CEO says Subaru will support retailers on service capacity https://ift.tt/2P0Dp6H U.S. growth over the past 15 years continues to put pressure on its dealers' service operations. And that's a challenge the automaker will confront in 2020.

Hang on: Number of dealerships won't fall

Hang on: Number of dealerships won't fall https://ift.tt/320rs6k updated study on the dealerships of tomorrow finds less concern over threats such as autonomous vehicles and a stable industry size through late this decade.

Infiniti extends additional relief to its retailers

Infiniti extends additional relief to its retailers https://ift.tt/2vE93jP brand is attempting to ease out of its past sales incentive programs to let its retailers focus more on individual store profitability.

Service Counter

Service Counter https://ift.tt/2STxcLf

Breaking it down

It is estimated that Americans spend about 120 million hours a year sitting in traffic as a result of vehicle breakdowns. These roadside incidents not only cost the person with the damaged or broken vehicle, they also put a dent in the economy because of lost production. A new study by the roadside-assistance service provider Agero estimates the costs of various aspects of vehicle breakdowns in the U.S.:

• 69 million: Number of breakdowns each year
• $41 billion: Annual cost of breakdowns to U.S. economy
• $7 billion: Cost of roadside assistance
• 30 million: Number of workdays lost as a result of breakdowns
• $9 billion: Cost to drivers and businesses because of breakdowns
• $315: Cost of breakdowns per household
• $15 billion: Annual repair costs from breakdowns

Source: Agero Inc.

All roads lead back to the family business

All roads lead back to the family business https://ift.tt/2uHmY8H

I came to be the new editor of the same way Adam Silverleib got into the car business: by following in Dad's footsteps.

Service training can pay off in better bottom line, retention

Service training can pay off in better bottom line, retention https://ift.tt/37wZ50I

Service advisers often are taught only the systems and basic processes that their dealership or group uses before going face-to-face with customers. Better training has bottom line benefits for dealers.