U.S. consumers willing to pay auto bills in quarantine, TransUnion finds

U.S. consumers willing to pay auto bills in quarantine, TransUnion finds https://ift.tt/35hMnnf survey of nearly 3,000 U.S. consumers conducted by TransUnion reveals that those affected financially by COVID-19 closures were about twice as likely to default on a mortgage than an auto payment, sticking to previous trends of ranking transportation needs above other credit products.

Fiat Chrysler's Italian dealerships to reopen

Fiat Chrysler's Italian dealerships to reopen https://ift.tt/3f4zIsb

Italy is joining Germany and France in allowing dealerships to resume car sales after they were closed because of measures to restrict the spread of the coronavirus.

Ford Credit Q1 earnings spiral

Ford Credit Q1 earnings spiral https://ift.tt/2VKQ9Cm captive finance arm attributes the drop to efforts to bolster credit-loss reserves — the funds it sets aside for auto loans it doesn't expect will be repaid — higher depreciation on off-lease vehicles awaiting sale and anticipated operating lease defaults.

AutoNation names Cannon to new customer experience position

AutoNation names Cannon to new customer experience position https://ift.tt/2VRhIKt

Marc Cannon adds technology oversight to his responsibilities at the largest U.S. dealership group. He will continue to lead brand, advertising, marketing, e-commerce, customer relations and communications.

Consumers with negative equity struggle with digital deals, retailer finds

Consumers with negative equity struggle with digital deals, retailer finds https://ift.tt/3aNpE3t processes support most of the vehicle transaction, though 80 percent of customers require assistance from employees to finalize an online sale, Lithia Motors Inc. executives told investors last week.

Relief fund offers aid for F&I managers impacted by COVID-19

Relief fund offers aid for F&I managers impacted by COVID-19 https://ift.tt/2SlN2yJ F&I Providers Relief Fund for F&I Managers has so far raised $362,000 for dealership F&I personnel who have either lost their jobs or taken pay cuts due to state-mandated shelter-in-place orders.

Major uptick in remote F&I features, Dealertrack says

Major uptick in remote F&I features, Dealertrack says https://ift.tt/2YiJ11U dealership adoption of the latest remote features signals a sea change in digital transactions, Dealertrack leadership says.

Sonic reduces headcount by a third, reports Q1 net loss

Sonic reduces headcount by a third, reports Q1 net loss https://ift.tt/2VOTGj3 dealership group wrote down the value of its franchised business by $268 million during the first quarter because of the impact of the coronavirus crisis on its market value. Adjusted earnings from continuing operations rose 4.9 percent to $17.6 million and the company's shares surged in early trading.

Asbury eyeing acquisitions post-Park Place

Asbury eyeing acquisitions post-Park Place https://ift.tt/355ZHuP

A strong balance sheet, low debt and a stockpile of cash could put the retailer on the prowl for acquisitions this fall.

Joint effort needed to face new normal

Joint effort needed to face new normal https://ift.tt/3bHZW1A

The coronavirus pandemic and its aftermath are times for dealers and lenders to work together to manage liquidity.

Kia store lists '64 Pontiac one-off

Kia store lists '64 Pontiac one-off https://ift.tt/2Yf7RzH

Napoli Kia is asking $750,000 for the first-ever Banshee coupe, a two-seater designed by John DeLorean in 1964 as an answer to the Ford Mustang.

Rodeo cowboy Tex Earnhardt built retail empire

Rodeo cowboy Tex Earnhardt built retail empire https://ift.tt/2SaeGP0

Hal "Tex" Earnhardt Jr. turned his first dealership, a Ford store, into a 21-dealership group in Arizona and Nevada. He died April 19.

Used sales, prices down ? is it time to buy?

Used sales, prices down ? is it time to buy? https://ift.tt/359L2ij

Now is the time to build inventory, dealers are told, but retail traffic has been light or nonexistent.

COVID-19 assistance? No, just a dealership ad

COVID-19 assistance? No, just a dealership ad https://ift.tt/3bG2JbH

The owner of the suburban Chicago FCA store says he never saw the envelopes before a marketing firm sent them out and was just as upset as the recipients who complained they were tricked by the official-looking mailer.

With video, time to plan for new reality

With video, time to plan for new reality https://ift.tt/2yM55ae

Video conferencing will be part of routine business practices for auto retailers when the coronavirus is over, writes an Automotive News reader in a letter to the editor.

Hyundai Capital offers dealer loan aid

Hyundai Capital offers dealer loan aid https://ift.tt/3eQgoip

Hyundai has secured emergency financing for both itself and its dealers to help weather the pandemic disruption. 

Sales show early signs of recovery

Sales show early signs of recovery https://ift.tt/2ScJFKh

U.S. auto sales are unquestionably ugly -- and probably will be for a while -- but they appear to be getting better, not worse. J.D. Power believes a recovery already has started.

Dealership group offers 3 months with no payments

Dealership group offers 3 months with no payments https://ift.tt/2SaDuGw

Suntrup Automotive Group in St. Louis is offering customers who buy a used vehicle three months of no payments during the coronavirus outbreak.

Aid goes from dealerships to front-line workers

Aid goes from dealerships to front-line workers https://ift.tt/2VI7LPn

Island Auto Group is among a number of dealerships across the country providing essential workers vehicles during the pandemic. It's one of many ways dealers are stepping up to help their communities.

'Retail has changed forever,' AutoNation's Jackson says

'Retail has changed forever,' AutoNation's Jackson says https://ift.tt/3aFbTDG

Masks, gloves, sprays, wipes, hand sanitizers, single-use pens and spacing markers for social distancing are becoming the norm at the largest U.S. dealership group.

CarMax, Carvana adapt selling strategies

CarMax, Carvana adapt selling strategies https://ift.tt/2Y5vSZN

The two leading used-vehicle trendsetters were already focused on digital sales, and now they have been forced to adapt to a pandemic.

Could a Clunkers 2.0 work better?

Could a Clunkers 2.0 work better? https://ift.tt/353kkrr

Many auto industry and federal officials say economic incentives or government programs encouraging consumers to buy vehicles again will be needed down the road.

Trump signs $484 billion package to rescue small businesses

Trump signs $484 billion package to rescue small businesses https://ift.tt/2KzgkFL

The measure includes $320 billion to make new loans under the Paycheck Protection Program for small businesses, which ran out of money last week. Groups representing auto dealers pressed lawmakers to allocate more funds for the program.

House overwhelmingly passes interim stimulus bill; Trump expected to sign

House overwhelmingly passes interim stimulus bill; Trump expected to sign https://ift.tt/2S41085

The final bill includes $320 billion to make new loans under the Paycheck Protection Program for small businesses, which ran out of money last week. Groups representing auto dealers pressed Congress to allocate more funds for the program.

Polestar 2 electric vehicle will start at $61,200

Polestar 2 electric vehicle will start at $61,200 https://ift.tt/3bwsnPP

The Volvo electric vehicle startup's first volume model, the Polestar 2, is priced $3,000 less than planned.

Public transit worries give automakers some hope amid virus pandemic

Public transit worries give automakers some hope amid virus pandemic https://ift.tt/2XZUfba

As Americans take precautions by distancing from other humans and avoiding anything they might have touched, buying a car could appeal to some people who otherwise wouldn't have considered one.

Auto sales show signs of recovery, J.D. Power says

Auto sales show signs of recovery, J.D. Power says https://ift.tt/3as67oT

Automakers are headed for a less-drastic U.S. sales collapse than feared, helped by online sales, 0 percent financing and other incentives, according to data released Wednesday.

Remote car deals could trigger atypical FTC rule, experts say

Remote car deals could trigger atypical FTC rule, experts say https://ift.tt/3bAIWdK

The Federal Trade Commission's guidance on remote sales, known as could apply to vehicle sales under certain circumstances, and dealerships should consult a legal expert to ensure their remote sales aren't implicated.

Lithia Q1 new-vehicle sales, net income slip

Lithia Q1 new-vehicle sales, net income slip https://ift.tt/2zeBpmj

The nation's third-largest dealership group said it experienced growth across its major business lines before the coronavirus pandemic, which forced some showroom closures and slowed sales across the U.S.

CARES Act, established protocols key to protecting customer credit

CARES Act, established protocols key to protecting customer credit https://ift.tt/2VxlsRb

The Coronavirus Aid, Relief and Economic Security Act adds some wrinkles to how auto lenders should approach different consumer circumstances in light of the viral outbreak.

CDK completes sale of digital marketing business to Ansira

CDK completes sale of digital marketing business to Ansira https://ift.tt/2XVS5JH

CDK Global's former digital marketing business has been renamed Sincro, and all former CDK digital marketing customers have been transferred to Ansira.

AutoNation promotes COO Jim Bender to president

AutoNation promotes COO Jim Bender to president https://ift.tt/2VsLpkJ

The executive change comes nine days after CEO and President Cheryl Miller was granted medical leave. Executive Chairman Mike Jackson said he expects to serve as chief executive of the dealership group for several months while Miller is on leave.

Asbury on Park Place termination: It was the right thing to do

Asbury on Park Place termination: It was the right thing to do https://ift.tt/2RUjFDu

Asbury couldn't put off the purchase because of an April 30 deadline attached to the financing the retailer arranged for the transaction. Once the coronavirus outbreak halted auto sales and shuttered stores across the country, executives knew the deal wouldn't survive.

Pennsylvania allows online auto sales

Pennsylvania allows online auto sales https://ift.tt/3eAAMnn

Pennsylvania follows other states, including Michigan, that have loosened restrictions on auto sales following initial stay-at-home orders that prevented them.

German industry calls for cash-for-clunkers program to boost car sales

German industry calls for cash-for-clunkers program to boost car sales https://ift.tt/2XMAmEx

VW brand's chief operating officer, Ralf Brandstatter, said the program could be geared toward cars with low emissions.

Rep. Kelly: Dealers quick to adjust to crises

Rep. Kelly: Dealers quick to adjust to crises https://ift.tt/2KkjPQg

Mike Kelly, a Republican congressman and auto dealer, discusses his experience with COVID-19 and how dealers can navigate the current economic and public health crisis.

Find ways to preserve cash

Find ways to preserve cash https://ift.tt/2VGxjeq

Annette Sykora, who was chairman of the National Automobile Dealers Association in 2008, has been able to apply knowledge gained both from the trade group and her own store's experience to the current crisis.

Dealers help communities in crisis

Dealers help communities in crisis https://ift.tt/3btgZVa

Dealers are going beyond their immediate concerns about sales and cost-cutting to help their workers and the community.

Dealerships see greater level of support

Dealerships see greater level of support https://ift.tt/3bqwz3Q

Tammy Darvish, president of AutoCanada's U.S. operations, recalls the hostility toward franchised dealers in the Great Recession and says attitudes are different in this crisis.

Used-car market in ?strange moment'

Used-car market in ?strange moment' https://ift.tt/2XQhSDc

Dealers have seen retail used-vehicle sales slow to a crawl and wholesale values drop by double-digit percentages. Some wonder whether used vehicles can be accurately valued amid such turmoil.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3csaEJm

Dealers featured this week include Alan Pflueger, dealer principal of Pacific Honda in Honolulu; Robert Green, dealer principal of Gale Toyota in Enfield, Conn.; Bill Sowles, owner of Morong Falmouth Volkswagen in Maine; and David Stone, dealer principal of Merle Stone Chevrolet Porterville in California.

Past recession offers survival lessons

Past recession offers survival lessons https://ift.tt/3boWj0r

Detroit dealership owner-operator Karl Zimmermann credits his store's culture and communication for helping navigate the coronavirus pandemic.

Closures might hold up titles, registrations

Closures might hold up titles, registrations https://ift.tt/34NlQ0R

Stay-home orders that have restricted auto sales in certain states also have closed some government offices that process vehicle paperwork.

Digital newcomers gain used-car ground

Digital newcomers gain used-car ground https://ift.tt/2RTDta1

Last year was strong for used-vehicle sales, and until March, many retailers anticipated an even better 2020.

Focus on scale to reduce costs

Focus on scale to reduce costs https://ift.tt/2Kopuod

The prolonged economic pain felt in the last recession yielded lessons that are applicable to the quick, sharp cuts that the coronavirus pandemic has made, says Aaron Zeigler, president of Zeigler Auto Group.

Adaptations to curb virus spread could 'change everything' in fixed ops

Adaptations to curb virus spread could 'change everything' in fixed ops https://ift.tt/2xHs3zb

Though business is far from normal, fixed ops directors and dealers have relied on creativity, caution and courage as they help fleet customers and others keep vehicles on the road.

Lyft, Uber and their drivers are ripe for fixed ops picking, expert says

Lyft, Uber and their drivers are ripe for fixed ops picking, expert says https://ift.tt/3aiqHIx

Ride-hail drivers log hundreds of miles on the road per week. That means quicker-than-usual oil changes, tire rotations, scheduled maintenance and parts in need of repair or replacement.

"A full-time ride-share driver will easily put 1,000 miles a week on their car, which means a lot of maintenance is accelerated" says Harry Campbell, founder of industry website TheRideShareGuy.com.

Despite this, most dealership service departments have shied away from Uber and Lyft drivers. The hesitation to court ride-hail drivers may be due to unfamiliarity with ride-hail drivers' needs and older paradigms of how and when service departments operate, Campbell says. But their business is out there to capture, and — perhaps more importantly — the ride-hail companies want it.

Federal-Mogul Motorparts must back up brake claims

Federal-Mogul Motorparts must back up brake claims https://ift.tt/3byyXoU

Federal-Mogul Motorparts settled a Federal Trade Commission administrative complaint that alleged it made unfounded claims that its aftermarket Wagner OEX brake pads could stop a vehicle in a shorter distance than its competitors' brake pads.

Shops find ways to keep a distance

Shops find ways to keep a distance https://ift.tt/2xKape1

Some dealership fixed operations departments are taking drastic steps to keep customers and their employees safe.

Customer demand to skip the lines spurs growing dealership use of kiosks

Customer demand to skip the lines spurs growing dealership use of kiosks https://ift.tt/2VjSwM4

Express-service kiosks that allow customers to check in and out of service departments on their own schedule largely have been a novelty offered by a small number of dealerships. But that is likely to change quickly as major suppliers of the machines and vehicle manufacturers gear up for expansion.