OBITUARY: Royce Reynolds

OBITUARY: Royce Reynolds https://ift.tt/2XkyOAT group owner Royce Reynolds died May 6 at age 88.

Trying times in China for would-be U.S. players

Trying times in China for would-be U.S. players https://ift.tt/2AtlbGu

Plans to bring the Zotye brand to the U.S. have been iced, leaving money-losing Chery as the only Chinese automaker with any near-term prospects.

Michigan flood snuffs out Fieros

Michigan flood snuffs out Fieros https://ift.tt/2ArhBwG

The owner of Fieros Forever, which was washed away after two dams failed in Michigan, planned to retire and auction off the cars in April but had pushed back the timing because of the coronavirus pandemic.

Dealers welcome Nissan's strategy shift for U.S.

Dealers welcome Nissan's strategy shift for U.S. https://ift.tt/2ZRxpUh

The plan formalizes the pivot away from rental-fleet sales toward a richer retail foundation.

Rental struggles expected to take a big bite out of fleet demand

Rental struggles expected to take a big bite out of fleet demand https://ift.tt/3gCue8O

A key source of sales for some big automakers is disappearing. ALG projected a 78 percent drop in U.S. fleet sales for May. 

Service business shows improvement

Service business shows improvement https://ift.tt/36NTIvh

Signs are emerging that the worst is over for U.S. dealerships' parts and service business amid the coronavirus pandemic. Still, there's a lot of stress out there.

Parts and service in a pandemic

Parts and service in a pandemic https://ift.tt/2zRrYKn

Snapshots of dealership service department activity amid disruptions caused by the coronavirus.

Dealers laud GM's Engle for retail skill

Dealers laud GM's Engle for retail skill https://ift.tt/3dlTQor

In a little more than a year heading GM's North American operations, Barry Engle has earned the respect of dealers by offering solutions to help their businesses and involving them in GM's plans for the future.

Dealers help out with vehicle sanitizing

Dealers help out with vehicle sanitizing https://ift.tt/2XgWxBY

A free vehicle-sanitizing event at Sellers Auto Group dealerships in southeast Michigan left some first responders and medical personnel in tears.

Kentucky dealership fires lockdown protester

Kentucky dealership fires lockdown protester https://ift.tt/2MdqNHz

Neil Huffman Auto Group said it would not allow "hate or intolerance" after its employee hung an effigy of Gov. Andy Beshear outside the state Capitol.

TrueCar to eliminate 219 jobs in restructuring

TrueCar to eliminate 219 jobs in restructuring https://ift.tt/2AeAjrs

The cuts, prompted by the coronavirus outbreak and the end of a key partnership with USAA Federal Savings Bank, amount to more than 30 percent of the vehicle listings company's work force.

N.Y. Honda store to pay $1.5 million for racial discrimination, deceptive practices

N.Y. Honda store to pay $1.5 million for racial discrimination, deceptive practices https://ift.tt/3gskXQH

Bronx Honda settled with the Federal Trade Commission and agreed to establish a fair lending program that includes a cap on dealer markup on indirect financing contracts.

GM accused of discrimination by 2 Mich. dealerships

GM accused of discrimination by 2 Mich. dealerships https://ift.tt/2TK7Ws6

A federal lawsuit says the automaker unfairly terminated financing agreements and demanded stricter documentation from customers about their eligibility for a family discount than buyers at other stores had to provide.

Tesla's price cuts signal demand is weaker than shares suggest, analysts say

Tesla's price cuts signal demand is weaker than shares suggest, analysts say https://ift.tt/2X6p3pM

Tesla said overnight that it would cut the list price of the Model S and X by $5,000. The Model 3 is getting a $2,000 price cut.

NADA, AIADA join groups asking for liability protections during pandemic

NADA, AIADA join groups asking for liability protections during pandemic https://ift.tt/36yNBuZ

A fast-growing number of trade associations and other groups are urging members of Congress to "enact temporary liability protections for businesses, nonprofit organizations and educational institutions that work to follow applicable public health guidelines against COVID-19 exposure claims."

Dealers see access to auto loans tightening

Dealers see access to auto loans tightening https://ift.tt/36yabDW

As lenders tighten credit access to mitigate risk from the coronavirus pandemic, dealerships are anecdotally reporting difficulty getting customers approved for auto loans.

F&I companies plan to resume in-person training

F&I companies plan to resume in-person training https://ift.tt/3d9pXYr

Many finance-and-insurance training companies are looking to resume dealership visits and reopen classrooms in the coming weeks, though some are holding off.

Tighter credit could hinder auto recovery long-term

Tighter credit could hinder auto recovery long-term https://ift.tt/2X85uxG

As lenders tighten credit access to mitigate risk from the coronavirus pandemic, dealerships are anecdotally reporting difficulty getting customers approved for auto loans.

F&I classrooms changing under COVID-19

F&I classrooms changing under COVID-19 https://ift.tt/2yBA9tx

Limited class sizes, social distancing and a focus on digital can be expected from F&I training companies looking to resume in-person instruction.

U.S. distributor suspends plans to import Zotye vehicles

U.S. distributor suspends plans to import Zotye vehicles https://ift.tt/2ZIUbxs

Zotye's financial struggles have been compounded by the coronavirus pandemic. Would-be distributor HAAH Automotive Holdings will now focus on efforts to bring another Chinese automaker, Chery, to the U.S.

Trade groups ask for changes to small-business loan program

Trade groups ask for changes to small-business loan program https://ift.tt/3erRl4d

They called for "emergency legislative and administrative action" to repeal the program's requirement that 75 percent of the loan be used to cover payroll costs and 25 percent be used to cover mortgage, rent and utilities during an eight-week period.

ADESA's digital push to be supported by $550M stock offering

ADESA's digital push to be supported by $550M stock offering https://ift.tt/3edEG4G

The ADESA parent company said capital raised by the transaction will go toward general operations and sustaining technology platforms amid the wholesale sector's recovery from the coronavirus pandemic.

KAR announces $550 million preferred stock offering

KAR announces $550 million preferred stock offering https://ift.tt/2zzMuiv

Capital raised by the transaction will go toward general operations and sustaining technology platforms amid the wholesale sector's recovery from the coronavirus pandemic.

GPB could be forced to sell dealerships

GPB could be forced to sell dealerships https://ift.tt/2ZtLbfA future ownership of five Toyota dealerships remains in question after the automaker demanded that majority owner GPB Capital Holdings sell the stores. It's the latest in a string of blows to the firm that owns most of Prime Automotive Group.

Sonic moves ahead with used-vehicle stores

Sonic moves ahead with used-vehicle stores https://ift.tt/2TBydZj

The nation's sixth-largest new-vehicle retailer opened its 10th EchoPark store in April in Tampa, Fla., and plans to open two more by the end of the year, with plans for another three or four in 2021.

Fair's new CEO eyes big market expansion

Fair's new CEO eyes big market expansion https://ift.tt/2X3oRbb

Brad Stewart says the company needs to be in more markets and should consider giving consumers more options beyond a month-to-month commitment.

How one Ford dealer navigated a COVID-19 outbreak

How one Ford dealer navigated a COVID-19 outbreak https://ift.tt/2A3V8pg

Five confirmed cases of COVID-19 were connected to Mel Hambelton Ford in Wichita, Kan. The dealership increased distancing and cleaning, and it informed employees.

Changes in auto retail, wholesale to stick around

Changes in auto retail, wholesale to stick around https://ift.tt/2Xl8IMV

The coronavirus pandemic will continue to accelerate the shift to digital for auto retail and wholesale. That's about the only certainty in the months ahead.

Calif. store manager files COVID suit alleging he was fired for complaining

Calif. store manager files COVID suit alleging he was fired for complaining https://ift.tt/2XsuezE

Part of the former general sales manager's suit alleges that he was terminated because he complained that Rusnak/Audi Pasadena wasn't taking COVID-19 seriously and was advocating "business as usual" practices, in violation of government guidelines. The auto group denies the allegations and says it has closely followed health and safety protocols.

Michigan floods continue to impact Northwood, Dow

Michigan floods continue to impact Northwood, Dow https://ift.tt/2zkO8Eo

Chemical giant Dow Inc., in Midland, Mich., said "business continuity plans are in place to ensure customer needs are met."

Park Place expands 2 months after Asbury deal collapse

Park Place expands 2 months after Asbury deal collapse https://ift.tt/2XiGKS0

Park Place Dealerships will acquire Aston Martin Dallas from the John Eagle Auto Group, the company said Thursday. The deal is expected to close within the next 90 days.

Hyundai, L.A.-area dealer separate after customers' cars towed

Hyundai, L.A.-area dealer separate after customers' cars towed https://ift.tt/2LRcf06 Bros. Hyundai in Culver City and the automaker were already having problems with their business relationship before the March incidents in which customers who had dropped off cars for service complained that their vehicles were towed away and they were hit with large fees.

Michigan auto dealerships to resume in-person sales

Michigan auto dealerships to resume in-person sales https://ift.tt/2WNYUMu

The change continues a trend of states relaxing policies on auto dealerships in a national push to reopen key factions of the economy. Michigan has the fourth-highest COIVD-19-related death toll after New York, New Jersey and Massachusetts.

States: Consumers must be able to return leased vehicles during outbreak

States: Consumers must be able to return leased vehicles during outbreak https://ift.tt/2TpOGzF

In a letter signed by 11 state attorneys general and distributed to leading automakers, California, New York, Pennsylvania and other states warned that preventing customers from returning leased vehicles during the outbreak violates state and federal laws.

Michigan judge's ruling could permit auto lenders to keep PPP loans

Michigan judge's ruling could permit auto lenders to keep PPP loans https://ift.tt/36hghby

U.S. District Judge Matthew Leitman in Flint, Mich., May 11 barring the SBA from excluding certain businesses from relief. The ruling may offer clarity for lenders about if returning the funds is required.

Eye to eye in F&I

Eye to eye in F&I https://ift.tt/2Xe3PFr

There's a level of respect generated by eye contact that focuses the buyer's attention on the F&I process.

Higher F&I profits, sales per person at stores with fewer employees in April

Higher F&I profits, sales per person at stores with fewer employees in April https://ift.tt/3g9ojba

In the first joint study between the National Automobile Dealers Association and digital retailing provider Roadster, franchised dealerships said finance and insurance profits and sales per person rose for dealerships in April. Figures were even higher at stores that said they had digital retailing processes.

Advance Auto Parts boosted by bored Americans working on cars

Advance Auto Parts boosted by bored Americans working on cars https://ift.tt/2TnH4Oq

Advance Auto’s do-it-yourself repair business is strong, replacement car-battery sales are brisk and consumers are taking breaks from streaming to scrub down their vehicles.

N.J. dealerships to resume in-person sales

N.J. dealerships to resume in-person sales https://ift.tt/3g8C5uo

The governor's administrative order allows showrooms to reopen for appointment-only customers starting at 6 a.m. ET on Wednesday.

Sonic: May better than expected, used vehicle outlook improves

Sonic: May better than expected, used vehicle outlook improves https://ift.tt/3cXxzwM

The nation's sixth-largest new-vehicle retailer said new and used sales volumes and fixed operations gross profit have performed at or above expectations and are getting better by the week.

Sonic says May business improving, boosts forecast on used vehicles

Sonic says May business improving, boosts forecast on used vehicles https://ift.tt/2Zi1wUz

The nation's sixth-largest new-vehicle retailer said new and used sales volumes and fixed operations gross profit have performed at or above expectations and are getting better by the week.

Larry H. Miller

Larry H. Miller https://ift.tt/2LC0vyr

In the last week of March, as the coronavirus began to shut down the nation, Larry H. Miller Dealerships experienced a 60 percent plunge in sales among its 65 stores.

OBITUARY: Ted Schluter

OBITUARY: Ted Schluter https://ift.tt/2X7ACMd Schluter, who spent more than 50 years as a dealer in Mansfield, Ohio, died May 1 at age 85.

Carvana

Carvana https://ift.tt/3g8UaJ4

The online used-car retailer said it had a quicker recovery than its used-vehicle peers, with CEO Ernie Garcia telling investors this month that its sales had been up 20 to 30 percent in recent weeks.

Hendrick Automotive Group

Hendrick Automotive Group https://ift.tt/2ZbGo2c

Hendrick Automotive Group's sales and service business has been impacted by the coronavirus pandemic, but the nation's fifth-largest new-vehicle retailer said it did not lay off or furlough any of its more than 10,000 employees.

Cars.com

Cars.com https://ift.tt/3g1FMC2

From offering dealerships discounts to lobbying for auto sales as essential services, Cars.com acted quickly when the pandemic hit the U.S. in March.

Mix of relief, concern as dealerships open doors

Mix of relief, concern as dealerships open doors https://ift.tt/2Zf0x7E

Yes, face masks and hand sanitizer are part of the new normal inside car dealerships. But that's just for starters.

CDK Global

CDK Global https://ift.tt/2ycpZ2l

The coronavirus pandemic is the main reason CDK Global lowered revenue and earnings forecasts for the rest of its 2020 fiscal year.

Ken Garff Automotive Group

Ken Garff Automotive Group https://ift.tt/2yXEyHG

Ken Garff Automotive Group not only faced setbacks in two key markets during the past two months of the COVID-19 pandemic, it also lost its chairman, Robert Garff, 77, who died of complications from the coronavirus March 29.

Sonic

Sonic https://ift.tt/2LEpFMQ

Sonic terminated about 1,200 employees and furloughed about 1,700 as part of cost-cutting actions taken to mitigate the financial impacts from the coronavirus pandemic.