Schedule change improves culture, retention

Schedule change improves culture, retention https://ift.tt/3Jp4WcD

Fred Anderson Toyota of Sanford in North Carolina has improved its retention rate for sales reps since its January 2021 schedule change for sales staff and finance-and-insurance managers.

Automotive News Top 150 Dealership Groups

Automotive News Top 150 Dealership Groups https://ift.tt/3Evg6sN

Topping the list for 2020 on Automotive News' annual ranking was AutoNation, followed by Penske Automotive Group, Lithia Motors, Group 1 Automotive and Hendrick Automotive Group.

Top retailers by used-vehicle sales

Top retailers by used-vehicle sales https://ift.tt/3HebEQV

The list showed some top-five shuffling as online upstart Carvana passed two of the country's biggest dealership groups.

Three dealership groups, former general manager buy dealerships in December

Three dealership groups, former general manager buy dealerships in December https://ift.tt/3emZ59y

Swickard Auto Group, Key Auto Group and Gerald Auto Group each bought dealerships in December transactions, while a former dealership general manager bought his first store this month.

Prime files protest against Subaru of New England in N.H. over denial of Group 1 acquisition

Prime files protest against Subaru of New England in N.H. over denial of Group 1 acquisition https://ift.tt/3JdG8UO

Prime Subaru of Manchester in New Hampshire is seeking a hearing as part of a protest filed with the state's Motor Vehicle Industry Board over Subaru of New England's refusal to approve Group 1 Automotive Inc. as buyer of the dealership.

Prime files protest against Subaru of New England in N.H.

Prime files protest against Subaru of New England in N.H. https://ift.tt/3eAgls9

Prime Subaru of Manchester in New Hampshire is seeking a hearing as part of a protest filed with the state's Motor Vehicle Industry Board over Subaru of New England's refusal to approve Group 1 Automotive Inc. as buyer of the dealership.

U.S. Dec. sales on pace to fall; retail stockpiles continue slow recovery

U.S. Dec. sales on pace to fall; retail stockpiles continue slow recovery https://ift.tt/32eyaug

Monthly retail stockpiles continue to improve and are tracking at just more than 1 million for the first time since July, J.D. Power said, but industry sales are still forecast to drop more than 20 percent.

Two dealership groups add stores in Ky., Colo. in December deals

Two dealership groups add stores in Ky., Colo. in December deals https://ift.tt/3H8xyFi

Jeff Wyler Automotive added a dealership in Kentucky, while Phil Long Dealerships expanded in Colorado.

XLerate Group plans to purchase America's Auto Auction

XLerate Group plans to purchase America's Auto Auction https://ift.tt/32lpjXB

Once combined, XLerate and America's Auto Auction will have 39 auction sites in 19 states.

Building on F&I lessons learned in 2021

Building on F&I lessons learned in 2021 https://ift.tt/3EodDQG

Customers today are looking to reduce or eliminate unexpected and unforeseen risks.

Interest rates might have reached floor with Fed move, Cox says

Interest rates might have reached floor with Fed move, Cox says https://ift.tt/3srRMFH

The Federal Reserve’s more aggressive credit tightening plan could mean auto loan interest rates will begin to rise in the spring, Cox Automotive Chief Economist Jonathan Smoke says.

Ways to evaluate auto dealership reinsurance for 2022

Ways to evaluate auto dealership reinsurance for 2022 https://ift.tt/3msI6Ho

Market conditions, F&I pricing and customers' auto loan terms are factors dealerships might take into account when establishing a reinsurance strategy for 2022, according to an APCO executive.

Three dealership groups expand with December acquisitions

Three dealership groups expand with December acquisitions https://ift.tt/32wO0Ac

Three dealership groups have expanded in Mississippi, South Carolina and Pennsylvania with acquisitions that closed this month.

BMW Cleveland settles EEOC age discrimination case for $390,000

BMW Cleveland settles EEOC age discrimination case for $390,000 https://ift.tt/3Fl9m1F

The dealership denied all allegations and admits no liability under the settlement.

The top retail technology stories of 2021

The top retail technology stories of 2021 https://ift.tt/3eb6ZTh

2021 saw the maturing of digital retailing inside dealerships and an increased need for cybersecurity controls.

KPMG raises spectre of used-car price drop

KPMG raises spectre of used-car price drop https://ift.tt/3FjtIIT

KPMG warned that used-vehicle prices could fall abruptly and raise negative equity issues once new-vehicle supply rebounds.

KPMG raises spectre of used-car price drop

KPMG raises spectre of used-car price drop https://ift.tt/3pi8JAk

KPMG warned that used-vehicle prices could fall abruptly and raise negative equity issues once new-vehicle supply rebounds.

Thieves hit exotic dealership for $1 million in watches

Thieves hit exotic dealership for $1 million in watches https://ift.tt/3mm0kKp

Two men armed with a hammer and a gun smashed a glass display case in the showroom of a Chicago Bentley and Lamborghini store.

OBITUARY: Bill Kolb Jr.

OBITUARY: Bill Kolb Jr. https://ift.tt/3e7ipau

The longtime auto dealer, builder and racer died Dec. 3 at 80.

Interest rate hike on soaring prices may crash demand for cars

Interest rate hike on soaring prices may crash demand for cars https://ift.tt/3E9brMR

The era of cheap money is drawing to a close, and even though the U.S. auto industry is in its best financial shape in decades, it may be ill-prepared for what comes next.

Dealership staffers add cheer to kids' holidays

Dealership staffers add cheer to kids' holidays https://ift.tt/3e8hlDC

Employees of Larry H. Miller dealerships in Arizona donated an estimated $50,000 worth of gifts for foster children in the state.

Minority dealers facing EV service future

Minority dealers facing EV service future https://ift.tt/32cfR8S

The future of the minority dealer body got a crash course this month on how the coming wave of electric vehicles could threaten service department profitability.

Dealer anniversaries

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

The dealer featured this week is Greg Kach, dealer principal of Jackie Cooper Imports, a Mercedes-Benz dealership in Tulsa, Okla.

Canada's auto shows halted amid COVID concerns

Canada's auto shows halted amid COVID concerns https://ift.tt/3e62rxt

As the industry's 2022 events draw near on the calendar, Canadian groups have canceled auto shows out of new concerns over COVID.

Open Road Capital steers Bain funds into dealerships

Open Road Capital steers Bain funds into dealerships https://ift.tt/3yJhM0C

The auto-retail investment company expanded its dealership investments in 2021. Last year, it announced it had partnered with Bain Capital Credit. Now it's using that funding to work with franchisees and help them grow.

How unlimited sick days boosted this dealership's productivity

How unlimited sick days boosted this dealership's productivity https://ift.tt/3q3QmP3

The policy at Riverside Dodge-Chrysler-Jeep-Ram in Prince Albert, Saskatchewan, has often stopped the spread of illness at the dealership and made employees more productive as a result, according to its general manager.

Asbury wraps up $3.2B deal for Larry H. Miller Dealerships

Asbury wraps up $3.2B deal for Larry H. Miller Dealerships https://ift.tt/3q542sY

Asbury Automotive formally expands into several new western states and picks up an estimated $5.7 billion in annualized revenue with the deal.

Toyota lays out Lexus' EV future

Toyota lays out Lexus' EV future https://ift.tt/3mdQMBn

The luxury brand has been cast in a starring role in Toyota Motor's $70 billion investment. As part of the plan for Lexus dealers to serve customers and alleviate any range anxiety, gasoline-electric and plug-in hybrids will have a key role.

Buy-sell frenzy set to continue into 2022

Buy-sell frenzy set to continue into 2022 https://ift.tt/3sf8sA8

Dealership buy-sell experts expect 2021 to be a record year for completed transactions, but also anticipate 2022's deal pace will remain strong.

Four dealerships change hands in single-store transactions

Four dealerships change hands in single-store transactions https://ift.tt/3p2GIg8

Group 1 Automotive sold a luxury dealership during the fourth quarter to Bayway Auto Group, while West Herr Automotive and two other dealership groups purchased stores.

VW invests $20M to prep U.S. stores for EV sales

VW invests $20M to prep U.S. stores for EV sales https://ift.tt/31YAGEO

The German automaker says it has committed $20 million in co-op matches to assist 99 percent of its 650 U.S. dealerships who signed up to be able to sell electric vehicles, including the VW ID4.

Three Canadian auto shows canceled due to Omicron variant

Three Canadian auto shows canceled due to Omicron variant https://ift.tt/3p1xy3F

The Montreal International Auto Show and Canadian International AutoShow have been called off for 2022 as the rapidly spreading Omicron variant spawns a resurgence of COVID-19 across Canada.

Ford Pro details EV charging services ahead of E-Transit launch

Ford Pro details EV charging services ahead of E-Transit launch https://ift.tt/3E36aqe

Ford Pro expects to generate $1 billion in revenue from charging services by 2030

Banks loosened auto lending standards in Q3

Banks loosened auto lending standards in Q3 https://ift.tt/3dRZLU3

Amid reduced consumer demand, the banking industry relaxed lending standards for auto loans slightly during the third quarter, according to a Federal Reserve survey.

TransUnion: Slight uptick in auto loans in 2022, buoyed by below-prime demand

TransUnion: Slight uptick in auto loans in 2022, buoyed by below-prime demand https://ift.tt/3FbgWMc

The first half of the year should see increased demand from below-prime customers compared with 2021, according to Satyan Merchant, TransUnion senior vice president of auto financial services.

Texas businessman with automotive links arranged contract killings of Tennessee couple, federal prosecutors say

Texas businessman with automotive links arranged contract killings of Tennessee couple, federal prosecutors say https://ift.tt/3m8gerF

Erik Charles Maund, an Austin businessman connected to the auto industry, enlisted the help of three men to surveil, kidnap and kill a Nashville woman and her partner, according to a U.S. indictment.

Cars.com promotes Doug Miller to president

Cars.com promotes Doug Miller to president https://ift.tt/3s4JJ1u

Miller's promotion to president and chief commercial officer is effective Jan. 1.

Multifactor authentication now ‘table stakes'

Multifactor authentication now ‘table stakes' https://ift.tt/3DOXS56

A multiple-step login process can protect a dealership's network from cyberattacks — and it's increasingly required to obtain cyber insurance.

Ed Morse Automotive enters Illinois, expands in Missouri

Ed Morse Automotive enters Illinois, expands in Missouri https://ift.tt/3sl6uP1

Ed Morse Automotive Group last week bought four dealerships in two separate transactions.

Penske buys Erhard BMW dealership in Mich.; Fox Motors picks up 2 other Erhard dealerships

Penske buys Erhard BMW dealership in Mich.; Fox Motors picks up 2 other Erhard dealerships https://ift.tt/3IM52uH

Penske Automotive once again has a dealership in its headquarters state. The group and Fox Motors bought luxury brand dealerships in Michigan from the Dahm family.

Inventory levels slip, still below 1 million

Inventory levels slip, still below 1 million https://ift.tt/33qIhfF

Dealers had about 958,000 vehicles either on their lots or on the way at the midpoint of last month, a 31-day supply, according to an estimate from Cox Automotive.

Group taps chatbots and QR codes to recruit, hire

Group taps chatbots and QR codes to recruit, hire https://ift.tt/3EQhhUJ

Berman Auto Group in Chicago automated parts of the hiring process, from screening applicants to scheduling interviews, which it says has made recruiting more efficient.

If minority retires, who gets the store?

If minority retires, who gets the store? https://ift.tt/3lVE8GQ

When ethnic retailers don't have a child or understudy to take the reins, or don't sell to another minority, it adds to the challenge of increasing the nation's minority dealer count.

Multifactor authentication now ‘table stakes'

Multifactor authentication now ‘table stakes' https://ift.tt/3lWizpO

A multiple-step login process can protect a dealership's network from cyberattacks — and it's increasingly required to obtain cyber insurance.

Sonic-RFJ deal closure leads flurry at year-end

Sonic-RFJ deal closure leads flurry at year-end https://ift.tt/3E1KwTn

Sonic Automotive's completed medagdeal of RFJ Auto Partners Holdings closed amid a flurry of buy-sell transactions as the year comes to an end.

A look at the future of service

A look at the future of service https://ift.tt/3IM1V5I

From prognostics and mobile repairs to data mining and AI, experts weigh in on what lies ahead in fixed operations.

Suit over engine fire, destroyed truck in federal court's hands

Suit over engine fire, destroyed truck in federal court's hands https://ift.tt/3DT8e3U

A federal court will resolve a suit accusing a now-defunct dealership and Ford of negligently servicing a West Virginia fire department's 2004 F-550 Super Duty.

Pilot program aims to find out what mechanics really think

Pilot program aims to find out what mechanics really think https://ift.tt/3GEwysc

Dealerships nationwide are participating in a pilot program to mitigate a critical issue confronting the industry: how to stem technician turnover.

For customers declining repairs, don't pressure; instead, build trust

For customers declining repairs, don't pressure; instead, build trust https://ift.tt/3EPrUqB

To get a customer to reconsider recommended repairs that have been declined, a service adviser should forgo aggressive sales tactics and instead begin building a relationship.

That was the advice fixed ops trainer and consultant Lee Harkins gave during a Nov. 23 Fixed Ops Journal webinar. Harkins, CEO of M5 Management Services, says earning customers' trust by forging a friendship is the best way to get them to rethink their decision.

"We've got to be able to really make that customer feel good about considering us to provide that service," Harkins said. "There should never be pressure placed on a customer."

Instead, service advisers need to show they care about the customer. "Call that customer and say, 'Listen, we're concerned. Your brakes were really low, and we would like to ask you to reconsider having us do that,' " he said.

To get customers to rethink a declined service takes consultive, or relationship, selling, Harkins said. This approach is different than traditional selling that can be seen as manipulative or based on pressuring a customer.

But being good at consultive selling requires a process, which will give advisers and the service staff a routine to follow. Having this will develop confidence and improve consistency, Harkins said.

‘Collective brainpower'

The exercise begins with the service manager jotting down ideas of what the process should look like. Staff is invited to provide input. "One of our greatest assets in the store is the collective brainpower of our staff and of our people," he said. "Once we get them thinking, there's a lot we can do."

The draft document is revised as many times as needed after feedback is received. Once the process is written, training can begin.

"You conduct that sit-down review meeting with the staff," Harkins said. "As you're reading the process, you're explaining each step to them and what the manager's expectations are in that category. And once we do that, then we establish those expectations of performance.

"Now they have a standard that you have spelled out that you expect them to work at. This is a tremendous tool."

Retention is goal

The goal of this approach is the long-term retention of the customer, Harkins said. And that is best accomplished by establishing a relationship with the customer based on trust, not intimidation.

"We always want to be positioning ourselves for that next visit and that next opportunity, not drive them away," he said. "That's what we want to make sure doesn't happen. The word games — 'What's it gonna take to get you to …' — doesn't have a place in the service department.

"Let's put service back into it where we bombard the customer with extra perceived value — factory-trained technicians, factory parts, good prices — where the most logical answer when we ask him to spend that $800 is going to be 'yes.' "

Fixed in time: When brick and mortar still ruled

Fixed in time: When brick and mortar still ruled https://ift.tt/31UGIWC

Buyers shop mostly online for parts today, but in 1975 spacious parts stores, like this one at Triangle GMC in Lancaster, Pa., were much more common.

How to cope with the supply chain crisis

How to cope with the supply chain crisis https://ift.tt/3yrrB2X

Carlisle CEO Paul Gurizzian how supply chain issues impact the service lane and shares strategies dealers can adopt to deal with challenge.

Digitizing documents saves time, adds security

Digitizing documents saves time, adds security https://ift.tt/3IIhNq6

The biggest benefit is a significant reduction in time spent searching through stacks of bankers' boxes for sales and service documents.

5 minutes with Stephany Birkholz, KPA environmental, health and safety team supervisor

5 minutes with Stephany Birkholz, KPA environmental, health and safety team supervisor https://ift.tt/30kOYyF

Stephany Birkholz, an environment, health and safety team supervisor at consulting firm KPA, discusses how service departments can maintain a safe and productive workplace.

Dodge aims to solidify its performance cred

Dodge aims to solidify its performance cred https://ift.tt/3oMAcKd

Dodge's Power Brokers program grants qualified U.S. dealers exclusive access to selling, stocking and installing Direct Connection parts and services.

Have phone, will schedule a service appointment

Have phone, will schedule a service appointment https://ift.tt/3dIkSYS

Scheduling an appointment was the most preferred mobile phone feature related to a service visit, according to a survey conducted for Fixed Ops Journal.

Texas dealership helps track down vehicles

Texas dealership helps track down vehicles https://ift.tt/3yemAuF

Street Volkswagen, of Amarillo, Texas, created a program called Car Catcher to help locate a specific vehicle for a customer — even if it's out of state and off brand.

Buy-sell roundup: Pinegar and Talebi buy dealerships

Buy-sell roundup: Pinegar and Talebi buy dealerships https://ift.tt/30lBliM

The owners of two General Motors brand dealerships have added a Honda store with the purchase last week of Don Wessel Honda in Springfield, Mo.

Terry Taylor buys AutoFair Automotive Group

Terry Taylor buys AutoFair Automotive Group https://ift.tt/3DJeL15

Terry Taylor's Automotive Management Services Inc. business has expanded its reach in the Northeast with the acquisition of AutoFair Automotive Group.

Plane crashes into Medford, Ore., dealership lot

Plane crashes into Medford, Ore., dealership lot https://ift.tt/3dD149i

No employees were injured or killed when a plane crashed Sunday night in the lot of a Medford, Ore., dealership.

Lithia buys Ferrari store; Pinegar and Talebi buy dealerships

Lithia buys Ferrari store; Pinegar and Talebi buy dealerships https://ift.tt/3DFXSUV

Lithia Motors Inc. has purchased an exotic brand dealership, while two other dealers made single-store purchases in Missouri and North Carolina.

Ransomware attacks make dealership cyber insurance is harder, more expensive to get

Ransomware attacks make dealership cyber insurance is harder, more expensive to get https://ift.tt/31Mh1aL

Escalating ransomware claims are a primary factor behind cost increases and increased cybersecurity requirements this year, experts say.

Sonic completes acquisition of RFJ Auto Partners

Sonic completes acquisition of RFJ Auto Partners https://ift.tt/3DIexY6

Sonic's $950.2 million acquisition of RFJ Auto Partners Holdings Inc. bolsters its presence in Texas but also adds six new states to its footprint.

Dealer Van Bortel sues Ford over dealership purchase agreement

Dealer Van Bortel sues Ford over dealership purchase agreement https://ift.tt/3pFl8NX

N.Y. dealer Kitty Van Bortel has sued Ford Motor Co., claiming that Ford reneged on a deal to allow her to purchase Henderson Ford in Webster, N.Y. The store was sold last month to another dealership group.

Toyota RAV4 a winner with minority consumers

Toyota RAV4 a winner with minority consumers https://ift.tt/3pEVOI0

Two outlets recognized the Toyota RAV4 as the bestselling vehicle among ethnic consumers for the 2021 model year, based on more than 13 million new-vehicle registrations aggregated from October 2020 to September 2021.

Hudson Automotive buys first Mercedes dealerships

Hudson Automotive buys first Mercedes dealerships https://ift.tt/3y9dSh0

Hudson Automotive Group acquired its first Mercedes-Benz dealerships on Tuesday, but it did not purchase a third store of the luxury brand as planned.

Ford caps F-150 Lightning reservations near 200,000 as production nears

Ford caps F-150 Lightning reservations near 200,000 as production nears https://ift.tt/31yO9TB

The automaker plans to institute a staggered ordering process, with the possibility some reservation holders having to wait for the 2023 model year.

Keating Auto adds 4 dealerships in Texas

Keating Auto adds 4 dealerships in Texas https://ift.tt/3lOFQd1

Keating Auto Group purchased four Texas dealerships in two separate transactions over the past week and a half. The group now has 27 rooftops.

Sonic completes $700M acquisition of RFJ Auto Partners

Sonic completes $700M acquisition of RFJ Auto Partners https://ift.tt/3rH8wID

Sonic's $700 million acquisition of RFJ Auto Partners Holdings Inc. bolsters its presence in Texas but also adds six new states to its footprint.

Lithia buys 3 dealerships from Elder Automotive

Lithia buys 3 dealerships from Elder Automotive https://ift.tt/301CnQD

The three Ford stores in Florida and Michigan are expected to generate $425 million in annual revenue.

EU raises ‘strong concerns' over controversial EV tax credit proposal

EU raises ‘strong concerns' over controversial EV tax credit proposal https://ift.tt/3y1zwUD

Valdis Dombrovskis of the European Commission urged Senate lawmakers to remove "all elements" of the EV tax credit proposal that he says would discriminate against electric vehicles imported from the European Union.

McLaren names Nicolas Brown president of Americas

McLaren names Nicolas Brown president of Americas https://ift.tt/3ou2Hwq

McLaren has given Nicolas Brown the post of president for the Americas at a moment of strong demand and profitability.

Threat of service contract regulation looms

Threat of service contract regulation looms https://ift.tt/3ptnyPI

Insurance regulators are turning their attention to service contracts and raising concerns about how they are regulated and whether these products should be categorized as insurance.

Santa's belly bump lands customer on naughty list

Santa's belly bump lands customer on naughty list https://ift.tt/3rC79uK

‘Twas Black Friday at Hawk Auto Group in Joliet, Ill., when there arose such a clatter.

Auto insurance sales expected to take off

Auto insurance sales expected to take off https://ift.tt/3pthPcG

Digital tools may pave the way for dealers to make quotes part of the buying experience.

Auto industry leaders fully expect a major shift in retailing

Auto industry leaders fully expect a major shift in retailing https://ift.tt/3IlZaYM

Global executives foresee a major shift to online auto sales by 2030, with a steep rise in automaker direct-to-consumer sales.

Four trends auto dealers should monitor in 2022

Four trends auto dealers should monitor in 2022 https://ift.tt/3Io5HCf

Cybersecurity, EV sustainability and compliance issues are among the top trends to watch in 2022.

Walmart Marketplace adds dealer parts sales

Walmart Marketplace adds dealer parts sales https://ift.tt/3orCU84

Walmart is working with RevolutionParts, a digital commerce solutions company with 1,600 dealership clients, to feature genuine automaker parts on the retail giant's website.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3oztYh3

Dealers featured this week include Jeff and Mark Miller, CEO and former CEO of Mark Miller Subaru in South Salt Lake, Utah; Steven Lamfrom, dealer principal of A&L BMW in Monroeville, Pa.; Larry Zinn, dealer principal of Jaguar-Land Rover North Dade in North Miami, Fla.; Mike Mahalak, president of Dodge-Chrysler-Jeep-Ram of Winter Haven in Florida; and Rachel Bachrodt, center operator of Bachrodt BMW in Rockford, Ill.

Auto loan lengths creep up, ‘performing well'

Auto loan lengths creep up, ‘performing well' https://ift.tt/3pyG2hP

Customers have been taking out longer auto loans, but the increased time until maturity doesn't appear to be a concern for investors.

With new data security rules, dealers could face extra costs, need vendor cooperation

With new data security rules, dealers could face extra costs, need vendor cooperation https://ift.tt/3EvImfz

The cost of complying with the new regulations ultimately depends on how well dealers have been adhering to requirements under the original Safeguards Rule that took effect in 2003.

Auto lenders: Dealer, customer fraud a top worry

Auto lenders: Dealer, customer fraud a top worry https://ift.tt/3oqrIZ4

Executives from 29 of the nation's largest auto lenders are more worried about fraud from dealerships and customers than scammers with phony identities.

An inside look at repair costs

An inside look at repair costs https://ift.tt/31ExDRG

We Predict, an Ann Arbor, Mich. predictive analytics company, compiles the data from service records for 2017-20 model year vehicles after 12 months on the road.

Keep margins consistent amid regulatory risk

Keep margins consistent amid regulatory risk https://ift.tt/3lBOtaK

Retailers should keep F&I dealer reserve consistent and document the reason for any downward deviations.

National Auto Care on acquisition spree amid F&I consolidation

National Auto Care on acquisition spree amid F&I consolidation https://ift.tt/3GkflnL

The company has been acquiring finance-and-insurance agencies in a prominent example of a broader consolidation trend within that industry.

National Auto Care ‘buying relationships'

National Auto Care ‘buying relationships' https://ift.tt/31zts9p

The company has been acquiring finance-and-insurance agencies in a prominent example of a broader consolidation trend within that industry.

Bob Brockman’s competency to stand trial for tax fraud now in judge’s hands

Bob Brockman’s competency to stand trial for tax fraud now in judge’s hands https://ift.tt/3Gex4gd

A federal judge will likely rule next year if former Reynolds and Reynolds Co. CEO Bob Brockman is competent to stand trial in a federal tax evasion case.

Bob Brockman competency case: Judge will decide

Bob Brockman competency case: Judge will decide https://ift.tt/3pwSpLk

A federal judge will likely rule next year if former Reynolds and Reynolds Co. CEO Bob Brockman is competent to stand trial in a federal tax evasion case.

Minnesota dealership doubles service dept. profits by bringing accessory installs in-house

Minnesota dealership doubles service dept. profits by bringing accessory installs in-house https://ift.tt/3Ij5j89

The change at Rapids Honda yielded other benefits that can't be measured or quantified but nonetheless are significant. For example, in-house installation has helped quality control.

Low dealership inventory could mean the end of stair-steps, NADA chairman says

Low dealership inventory could mean the end of stair-steps, NADA chairman says https://ift.tt/3xPyrPD

Stair-step programs, which promise cash bonuses to incentivize dealerships to hit aggressive sales targets, have been labeled as brand destroyers by critics.

Ford posts 5.8% gain in November U.S. sales

Ford posts 5.8% gain in November U.S. sales https://ift.tt/3IcL7Vt

Ford's November bump in light-vehicle sales contrasted with declines at nearly all other companies that reported monthly results.

Ford posts 5.8% gain in November U.S. sales

Ford posts 5.8% gain in November U.S. sales https://ift.tt/3dcBx6u

Ford's November gain in light-vehicle sales contrasted with declines for all other companies that report monthly results.

EV maker Polestar to develop own platform, boost number of showrooms

EV maker Polestar to develop own platform, boost number of showrooms https://ift.tt/3DbP09q

In the U.S., Polestar said it would grow from 25 showrooms now to 38 in 2022 and 50 by 2023. It also released a revealing teaser image of its much-anticipated Polestar 3 crossover.

Toyota, Honda, Hyundai, Kia sales fall 4th straight month; Ford gains

Toyota, Honda, Hyundai, Kia sales fall 4th straight month; Ford gains https://ift.tt/3luq1In

U.S. light-vehicle sales are expected to decline 11 to 12 percent in November, analysts say, as the chip crunch continues to dent supplies, dashing hopes for a more substantial finish to 2021.

California dealership sues BMW, Mercedes over lease buyout rules

California dealership sues BMW, Mercedes over lease buyout rules https://ift.tt/2ZJD4Oz

A California used luxury dealership has sued Mercedes-Benz, BMW and their captive finance companies, claiming bans on lease returns to third-party retailers interfere with dealer and lease rights under state code.

Calabasas Luxury Motorcars asked the U.S. Central District Court of California to permanently block such restrictions and award attorney fees. The dealership also seeks class-action status for all dealerships allegedly injured by the two captive finance companies' policies.

The defendants have not yet filed answers in court. Spokespeople contacted by Automotive News declined to comment on behalf of BMW, BMW Financial Services, Mercedes and Mercedes-Benz Financial Services because of the pending litigation.

Calabasas Luxury said numerous lessees had attempted to trade in or sell their BMW and Mercedes vehicles to the dealership only to have the two automakers refuse the transactions.

According to Calabasas Luxury, a representative from the Mercedes-Benz of Foothill Ranch dealership, also in California, in November told one of Calabasas Luxury's employees, "MB Dealers are the only ones allowed to payoff an MBFS Lease…No 3rd party payoffs."

Mercedes Financial Services has described company lease policy differently.

"In terms of exercising the lease purchase option, Mercedes-Benz Financial Services does not provide quotes to non-franchise dealers," spokeswoman Melinda Mernovage wrote to Automotive News in September. "However, a customer may request a purchase option quote at any time, and we will accept a payment on a lease purchase from any verified payment source."

Another Mercedes spokeswoman confirmed last week that this statement remained valid. Mercedes of Foothill Ranch has not yet responded to a request for comment.

Asked whether Calabasas Luxury had sought an opinion on the lease policy from the captive finance company itself instead of a Mercedes dealership, Calabasas Luxury attorney Robert Starr said he'd heard from "many people in the industry" that Mercedes would not accept third-party buyouts.

Calabasas Luxury also quoted BMW Financial Services in November as saying the automaker restricts "purchase of [a] leased vehicle or return or trade-in vehicle to an authorized BMW Center. BMW Financial Services will not honor payoffs received from third-party dealerships. In the event a payoff is received from a third-party dealership, BMW Financial Services will return the payment by mail to the original sender."

This is consistent with what BMW had described to Automotive News in September.

"Our primary goal is to support BMW franchise dealers by creating opportunities to keep more vehicles in our franchise network," BMW spokesman Phil Dilanni wrote in an email. "Therefore, we're prioritizing franchise dealers on our online auction platform to ensure they have more opportunities to purchase off-lease vehicles. In addition, we will temporarily suspend payoffs from third-party dealers as of October 1."

Calabasas Luxury's November lawsuits accuse both automakers of having "cornered the used vehicle market by refusing to allow lessees to trade-in their vehicles with anyone other than Defendants' affiliates." BMW and Mercedes were interfering with both dealership and customer rights, the lawsuits said.

Calabasas Luxury said both policies violate California Vehicle Code language governing trade-ins, wording which references purchases or accepting trade-ins of vehicles "subject to a prior credit or lease balance."

"It should be noted that although [the vehicle code] does not explicitly vest within all licensed dealers the ability to accept trade-ins, it must necessarily be assumed that the legal right to accept trade-in vehicles must exist," the dealership wrote in its lawsuit against BMW Financial Services. "In other words, it would be implausible for the Legislature to regulate dealer conduct with respect to accepting vehicle trade-ins if dealers did not have the right to accept 'trade-ins' in the first instance."

The dealership made a similar point in the Mercedes case.

Calabasas Luxury also cited in both cases language in California Civil Code referencing situations where "prior to the scheduled expiration date specified in the lease contract, the lessee terminates the lease and purchases the vehicle or trades in the vehicle in connection with the purchase or lease of another vehicle."

Customers have the right to buy the leased vehicle or trade in the vehicle early, the dealership argued.

Fla. dealership: Selling unwanted F&I products hurts profits

Fla. dealership: Selling unwanted F&I products hurts profits https://ift.tt/3G7YXGz

Pushing F&I products without a thought to the customer's needs could actually hurt the bottom line, according to a Florida dealership.

Toyota, Honda, Hyundai, Kia sales fall 4th straight month

Toyota, Honda, Hyundai, Kia sales fall 4th straight month https://ift.tt/3lq9sxd

U.S. light-vehicle sales are expected to decline 11 to 12 percent in November, analysts say, as the chip crunch continues to dent supplies, dashing hopes for a more substantial finish to 2021.

Hyundai, Kia sales fall 4th straight month

Hyundai, Kia sales fall 4th straight month https://ift.tt/3pjF2Oe

U.S. light-vehicle sales are expected to fall 11 to 12 percent in November, analysts say, as the chip shortage continues to dent supplies, dashing hopes for a more substantial finish to 2021.

VW uses Amazon boxes, free music to promote Taos

VW uses Amazon boxes, free music to promote Taos https://ift.tt/3Iii5Uz

Volkswagen of America has launched a campaign that will print QR codes on over 1 million Amazon boxes to market the compact crossover, offering three months of free premium music streaming as a reward for participating.

Stellantis undergoes 'unprecedented' shake-up of its European dealership network

Stellantis undergoes 'unprecedented' shake-up of its European dealership network https://ift.tt/3d0Gq2A

The automaker wants to transition a network estimated to exceed 15,000 franchise points to a so-called "retailer model." The move gives Stellantis more control over how its vehicles are sold.

 

Dealer anniversaries

Dealer anniversaries https://ift.tt/3o1yX9V

Dealers featured this week include Paul Moak Jr., dealer principal of Paul Moak Honda in Jackson, Miss.; Harold Zeigler, dealer principal of Zeigler BMW of Kalamazoo in Michigan; Joseph Blichfeldt III, dealer principal of Quality Subaru in Wallingford, Conn.

Ex-dealer calls Michigan governor a ‘Yugo'

Ex-dealer calls Michigan governor a ‘Yugo' https://ift.tt/3D1DBJd

Kevin Rinke, who was a top dealer for GM before selling his stores to Roger Penske, is contributing $10 million of his own money toward an 11-person battle for the Republican nomination.

OBITUARY: John Quick Sr.

OBITUARY: John Quick Sr. https://ift.tt/3de9Zhr

John Quirk Sr., who founded a chain of dealerships in Bangor that grew to multiple locations across the state, died Nov. 12 at 89.

Florida Gov. Ron DeSantis pulls dealership into political fray

Florida Gov. Ron DeSantis pulls dealership into political fray https://ift.tt/2ZAunGc

The head of the dealership group that owns Brandon Honda says he made "zero connection" between the store's name and the "Let's go Brandon" chants that have broken out at recent Republican events.

Lexus is still the most-liked brand among dealers

Lexus is still the most-liked brand among dealers https://ift.tt/3D1AQre

Lexus and Toyota topped the latest survey from the National Automobile Dealers Association.

Bob Brockman's competency hearing includes brain scan testimony

Bob Brockman's competency hearing includes brain scan testimony https://ift.tt/3o2hk9Q

Defense witnesses say that the Reynolds and Reynolds ex-CEO's impairment is clear. Prosecutors insist the symptoms are exaggerated.

With new mobile app, customers get perks, Stellantis gets intel

With new mobile app, customers get perks, Stellantis gets intel https://ift.tt/3paHsi1

The automaker believes a deeper understanding about the people who buy its products could prove useful as it develops business models that go beyond selling vehicles.

Just browsing

Just browsing https://ift.tt/3lCF2YT

Good Samaritans kept a flock of alpacas visiting an Audi dealership from wandering into traffic.

OBITUARY: Cary Bosak

OBITUARY: Cary Bosak https://ift.tt/3CWq4mh

The dealer principal of Bosak Motors Chrysler-Dodge-Jeep-Ram and CEO of Bosak Auto Group died Nov. 5 at age 61.

Dealers expect acquisitions to continue, survey finds

Dealers expect acquisitions to continue, survey finds https://ift.tt/3xsfemM

More than three-quarters surveyed by Kerrigan Advisors expect to buy at least one dealership in the next 12 months.

Dealership ditched the script, started talking to customers ‘like a human being' and found success

Dealership ditched the script, started talking to customers ‘like a human being' and found success https://ift.tt/3FM0rGk

Germain Toyota discarded a rigid process in exchange for having unscripted conversations with customers and addressing what's on their minds.

Porsche's big idea: Add flagship model above Cayenne

Porsche's big idea: Add flagship model above Cayenne https://ift.tt/3DKhGHv

The new vehicle would arrive in the second half of the decade, possibly with three rows of seating — a first for the famed sports car brand eager to draw younger buyers, even families.

Subaru braces for first back-to-back U.S. sales declines since 1990s

Subaru braces for first back-to-back U.S. sales declines since 1990s https://ift.tt/3DURHgF

CEO Tomomi Nakamura predicts rebound to 650,000 sales in 2022, but expects 2021 volume in Japanese automaker's most important market to fall short of 600,000.

Subaru braces for first back-to-back U.S. sales declines since 1990s

Subaru braces for first back-to-back U.S. sales declines since 1990s https://ift.tt/3r3xotY

CEO Tomomi Nakamura predicts rebound to 650,000 sales in 2022, but expects 2021 volume in Japanese automaker's most important market to fall short of 600,000.

Rivian delays deliveries of R1S SUV, reports say

Rivian delays deliveries of R1S SUV, reports say https://ift.tt/3CQv5g7

The EV maker has now started sending emails to customers to inform them that the delivery window has been changed to between May and July at the earliest, the reports said.

Dealerships largely don't let customers finish F&I online, survey finds

Dealerships largely don't let customers finish F&I online, survey finds https://ift.tt/3DT32hs

An eLend Solutions dealership survey found the industry largely fails to make the finance and insurance process available online to customers.

CoPilot: Lessees aware of vehicle market but still expect to upgrade

CoPilot: Lessees aware of vehicle market but still expect to upgrade https://ift.tt/3HQX2b5

Despite dealerships' tight inventory and automakers being forced to remove features from new models over supply shortages, lessees feel their next vehicle will be newer and more advanced than their existing models, according to a new survey. The consumers also expected to pay the same amount or less than their current bill.

Dealerships acquired in Calif., Ga.

Dealerships acquired in Calif., Ga. https://ift.tt/3oWtIrb

Three dealership groups acquired stores in California in separate deals, while another group added a second Stellantis store in Georgia.

Deliveries of Hummer Edition 1 pickup, with 329-mile range, to start in December

Deliveries of Hummer Edition 1 pickup, with 329-mile range, to start in December https://ift.tt/3CP5jIW

The $112,595 Hummer Edition 1 — the only version available for the first year — will be classified as a heavy-duty pickup, with a tow rating of 7,500 pounds and a 1,300-pound payload capacity.

Porsche to add flagship model above Cayenne

Porsche to add flagship model above Cayenne https://ift.tt/3CKF9af

The new vehicle would arrive in the second half of the decade, possibly with three rows of seating — a first for the famed sports car brand eager to draw younger buyers, even families.

Former Pontiac dealer Kevin Rinke commits $10M in bid for Mich. governor

Former Pontiac dealer Kevin Rinke commits $10M in bid for Mich. governor https://ift.tt/3DN8ORy

Rinke kicked off his campaign with a television ad airing in Michigan that draws on his roots as owner of one of the best-performing Pontiac car dealerships in the world.

Dealer anniversaries

Dealer anniversaries https://ift.tt/30IewWJ

Dealers featured this week include Jerry Durant, owner of Jerry’s Chevrolet in Weatherford, Texas; and Michael Perrin, dealer principal of Cobb County Toyota in Kennesaw, Ga.

OBITUARY: Richard Landfield

OBITUARY: Richard Landfield https://ift.tt/3oIF164

The longtime auto dealer, founder of Fairway Ford, died Oct. 11 at 89.

David Rosenberg using settlement money to buy stores

David Rosenberg using settlement money to buy stores https://ift.tt/3x78qLe

The New England dealer plans to use some proceeds from a $30 million settlement with GPB Capital Holdings.

How Stellantis has improved the dealership experience for customers

How Stellantis has improved the dealership experience for customers https://ift.tt/32oxCBF

The automaker has created a road map that encourages retailers to focus on satisfaction more than sales volumes.

Group 1 takes hold of most Prime dealerships

Group 1 takes hold of most Prime dealerships https://ift.tt/3FHvXWh

The acquisition gives of Houston group more scale in the Northeast and will help it expand digital retailing platform AcceleRide.

Porsche to create boutique showroom 'Studios'

Porsche to create boutique showroom 'Studios' https://ift.tt/3qUkhv3

Looking to attract the next generation of car buyers, the luxury brand is exploring a future beyond the all-in-one dealership.

Coming Dec. 27: AN's expanded 2021 Yearbook

Coming Dec. 27: AN's expanded 2021 Yearbook https://ift.tt/32cEpy2

A special issue of will be packed with information from our staff and data providers that can help inform your business decisions in the coming year.

Genesis, despite sales growth, needs brand awareness push, COO Claudia Marquez says

Genesis, despite sales growth, needs brand awareness push, COO Claudia Marquez says https://ift.tt/3nA3meZ

Sometimes Genesis still seems like the industry's "best kept secret," Marquez said, and that needs to change.

Industry vet Mark LaNeve helps drive firm’s plan to invest $400M in dealerships

Industry vet Mark LaNeve helps drive firm’s plan to invest $400M in dealerships https://ift.tt/3FCrQux

Franchise Equity Partners aims to spread around $1 billion across five areas of business, including auto retailers.

How a Toyota dealership built a canopy to protect inventory and generate electricity

How a Toyota dealership built a canopy to protect inventory and generate electricity https://ift.tt/3DCQ8DV

After four damaging hailstorms, Stapp Interstate Toyota in Colorado decided to take a gamble in the form of a 53,000-square-foot canopy to cover its vehicles.

Keating Auto Group expands in Texas; growing group buys dealerships in Ohio and N.J.

Keating Auto Group expands in Texas; growing group buys dealerships in Ohio and N.J. https://ift.tt/3DzYLzl

Keating Auto Group this month acquired three import dealerships, while a growing dealership group has purchased Honda and Hyundai dealerships and a family-owned group has purchased its second Iowa store.

GM says it can retrofit heated seats in mid-2022

GM says it can retrofit heated seats in mid-2022 https://ift.tt/3nyQYfj

Because the features can be added later, affected vehicles will be discounted by $50, instead of up to $500 as GM originally said.

Auto dealer stocks fall on Wall Street after bearish Morgan Stanley report

Auto dealer stocks fall on Wall Street after bearish Morgan Stanley report https://ift.tt/3DwJC1D

Analyst Adam Jonas expressed concerns about the pressure franchised dealerships face as Tesla and other EV makers expand and likely increase the volume of direct-to-consumer vehicle sales.

Auto dealer stocks fall on Wall Street after Morgan Stanley report

Auto dealer stocks fall on Wall Street after Morgan Stanley report https://ift.tt/3qUp7Z9

Analyst Adam Jonas expressed concerns about the pressure franchised dealerships face as Tesla and other EV makers expand and likely increase the volume of direct-to-consumer vehicle sales.

VinFast makes U.S. debut at L.A. show with 2 electric crossovers

VinFast makes U.S. debut at L.A. show with 2 electric crossovers https://ift.tt/3wXQkLE

To help position the brand in the U.S., VinFast is planning a series of special events in the coming months.

Group 1 acquires 27 of 30 Prime Automotive Group dealerships

Group 1 acquires 27 of 30 Prime Automotive Group dealerships https://ift.tt/3nrDfqx

Group 1 said it had acquired 27 dealerships from Prime Automotive Group. The original deal, announced in September, called for Group 1 to buy 30 dealerships from Prime for $880 million.

Japanese auto brands top Consumer Reports reliability survey again

Japanese auto brands top Consumer Reports reliability survey again https://ift.tt/3oGH9eL

Lexus, Mazda and Toyota once again took the top three spots in an annual Consumer Reports Reliability Survey, with Lexus edging out Mazda as the most reliable.

David Rosenberg buys 2 N.H. dealerships, grows group to 6 rooftops

David Rosenberg buys 2 N.H. dealerships, grows group to 6 rooftops https://ift.tt/3HwviIJ

New England dealer David Rosenberg purchased two import dealerships this month in Salem, N.H., to grow his DSR Motor Group to six dealerships.

GM's commercial EV unit to supply 5,400 more vans to Merchants Fleet

GM's commercial EV unit to supply 5,400 more vans to Merchants Fleet https://ift.tt/30HfS3J

General Motors unveiled BrightDrop in January in a bid to grab a chunk of the growing electric delivery vehicle business to better compete with rival Ford.

VinFast makes U.S. debut at L.A. show with 2 electric crossovers

VinFast makes U.S. debut at L.A. show with 2 electric crossovers https://ift.tt/3x0z8F3

To help position the brand in the U.S., VinFast is planning a series of special events in the upcoming months.

Bob Brockman innocent of tax fraud charges, U.S. witness says in surprise testimony

Bob Brockman innocent of tax fraud charges, U.S. witness says in surprise testimony https://ift.tt/3DvlRa5

On cross-examination, U.K. lawyer Evatt Tamine said he told prosecutors that he doesn’t believe his boss broke U.S. laws.

Illinois dealerships sold; Heritage Auto Group enters Wyoming

Illinois dealerships sold; Heritage Auto Group enters Wyoming https://ift.tt/3FvAH17

Heritage Auto Group this month bought a Chevrolet store in Wyoming. Two Illinois dealerships were sold last month in separate transactions.

Auto loan competition fierce as lenders report Q3 results

Auto loan competition fierce as lenders report Q3 results https://ift.tt/3oxasjQ

Capital One reported strong auto loan origination growth and strong competition as it and other major publicly traded auto lenders shared third-quarter results this fall. Leases proved a drag on some companies' balance sheets.

Nearly half of consumers research financing before securing loan, leasing

Nearly half of consumers research financing before securing loan, leasing https://ift.tt/3qN9Rxk

A new J.D. Power survey of 10,462 people with recent auto loans or leases found that 45 percent of customers do some research online prior to buying a vehicle.

Prime Automotive's majority owner GPB agrees to pay former CEO Rosenberg $30M in settlement

Prime Automotive's majority owner GPB agrees to pay former CEO Rosenberg $30M in settlement https://ift.tt/3cmUOC0

The settlement comes within days of GPB's planned sale of Prime dealerships to Group 1 Automotive Inc.

Used-vehicle prices reach record in October, J.D. Power says

Used-vehicle prices reach record in October, J.D. Power says https://ift.tt/30xzXZO

Through October, used-vehicle prices were on average 37 percent higher than in 2020.

Nissan Ariya EV sold through reservations

Nissan Ariya EV sold through reservations https://ift.tt/3neeeyZ

Rather than have dealers order the Ariya at launch, Nissan will take reservations directly from potential customers.

GM brands lead 2021 J.D. Power U.S. Sales Satisfaction Index

GM brands lead 2021 J.D. Power U.S. Sales Satisfaction Index https://ift.tt/2YP6TNa

The survey of customer satisfaction indicates that online shopping is clearly the preferred method for vehicle purchases at the moment.

2-step logins could reduce dealerships' cyber risks

2-step logins could reduce dealerships' cyber risks https://ift.tt/3qy1OUW

Dealerships and Cars.com last week described instituting the new process to defend their systems. Helion Technologies President Erik Nachbahr and said some insurers are requiring it as a condition for dealership cybersecurity coverage.

Public auto retailers' Q3 per-vehicle F&I profit grows

Public auto retailers' Q3 per-vehicle F&I profit grows https://ift.tt/3CcccUl

All six major publicly traded dealership groups continued to grow their same-store F&I profit per vehicle during the third quarter, exceeding their totals in both the second quarter and during the third quarter of 2020. Some of the competitors felt they had even more room to grow F&I performance.

Why traditional carmakers have an edge in autonomous challenge

Why traditional carmakers have an edge in autonomous challenge https://ift.tt/3Fgnbhv

Vehicle manufacturers have something even the most ambitious, well-funded tech darlings don't: vast expertise in building cars.

Carvana adjusts search results to handle demand

Carvana adjusts search results to handle demand https://ift.tt/30o10Xu

The used-car giant has reduced the number of vehicles shown to customers in search results to better manage operations.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3Dgn6Kk

Dealers featured this week include Robert Stadel Sr., co-founder of Stadel Motors, a Volvo dealership in Lancaster, Pa.; Bryan Tulley, owner of Tulley BMW of Nashua in New Hampshire; Jason Porreco, owner of Bianchi Honda in Erie, Pa.; Jonathan Watson, dealer principal of Mercedes-Benz of Laredo in Texas; Marshall Butler Sr., chairman of Butler Toyota in Macon, Ga.; John Wood, COO of Tom Wood Automotive; and Walt Gutierrez, dealer principal of Toyota of Newnan in Georgia.

Natural demand for vehicles will eventually be met. Dealers should be prepared.

Natural demand for vehicles will eventually be met. Dealers should be prepared. https://ift.tt/3kEdQIt

While manufacturers and dealers can leverage ongoing supply and natural demand imbalances to support higher transaction prices, it will be necessary for the industry to be ready for swift adjustments when natural demand is met.

47 nominated for Time Dealer of the Year

47 nominated for Time Dealer of the Year https://ift.tt/3kA2DbO

Forty-seven dealers were picked from more than 16,000 franchised dealers nationwide. They were selected by executives of state and metro dealer associations for success in auto retail as well as a commitment to their communities.

Dealerships have already beat 2020's profit record

Dealerships have already beat 2020's profit record https://ift.tt/3nhWmmQ

The average dealership's operating profit more than quintupled through the first nine months of the year to $1.8 million.

Dodge to certify dealers, revive parts line

Dodge to certify dealers, revive parts line https://ift.tt/3DiDude

Building a network of certified retailers and resurrecting its Direct Connection performance parts brand are among the first steps in a two-year plan the brand has started to roll out.

Dealership buy-sell frenzy throws up year-end hurdle

Dealership buy-sell frenzy throws up year-end hurdle https://ift.tt/3Fmsa0p

Brokers, lawyers and accountants say they are seeing delays in getting automaker approvals for some transactions or getting necessary tasks completed in time to close deals before the December holidays.

How this dealership group keeps customers coming back: Text messages

How this dealership group keeps customers coming back: Text messages https://ift.tt/3c95EeE

Planet Automotive Group has focused its marketing efforts and customer outreach on texting customers via Chatterspot software, and yielded substantial returns.

McCurley Integrity, Geaux Automotive acquire dealerships in October

McCurley Integrity, Geaux Automotive acquire dealerships in October https://ift.tt/3DaKCrT

McCurley Integrity Dealerships, Geaux Automotive Group and duo Amir Rauf and Louay Charara bought dealerships in single-store transactions last month.

Wholesale used-vehicle prices continue to rise, against the seasonal norm

Wholesale used-vehicle prices continue to rise, against the seasonal norm https://ift.tt/3D4nlrE

Cox Automotive's Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim's U.S. auctions, was up 38 percent in October compared with the same month in 2020.

Montreal International Auto Show a go for 2022, organizers say

Montreal International Auto Show a go for 2022, organizers say https://ift.tt/3C6XttO

The Montreal International Auto Show will be back in 2022 after the 2021 edition was canceled because of COVID-19, organizers said Thursday.

Average dealership profit on pace to shatter 2020 record, NADA data shows

Average dealership profit on pace to shatter 2020 record, NADA data shows https://ift.tt/3quwztQ

According to the NADA, the average U.S. dealership recorded net pretax profit of $3 million through September. That was more than double the $1.3 million in net pretax profit reported for the first nine months of 2020.

GMC, Porsche top Power's sales satisfaction -- but the real winner is online selling

GMC, Porsche top Power's sales satisfaction -- but the real winner is online selling https://ift.tt/3olTLb5

J.D. Power's 2021 sales satisfaction study shows gains by GMC, Porsche, Jeep, Chevrolet, Dodge and Ram.

Average dealership profit on pace to shatter 2020 record, NADA data shows

Average dealership profit on pace to shatter 2020 record, NADA data shows https://ift.tt/2YyUVXM

According to the NADA, the average U.S. dealership recorded net pretax profit of $3 million through September. That was more than double the $1.3 million in net pretax profit reported for the first nine months of 2020.

CreditIQ deal gives Cars.com customers access to online F&I

CreditIQ deal gives Cars.com customers access to online F&I https://ift.tt/3kn07FK

Cars.com is entering the auto finance market with , whose technology and digital retailing platform allow customers to receive online loan approvals and buy F&I products from dealerships.

AutoCanada, Shottenkirk among buyers in recent dealership acquisitions

AutoCanada, Shottenkirk among buyers in recent dealership acquisitions https://ift.tt/30ctumX

AutoCanada, Shottenkirk Automotive Group and upstate N.Y. dealers Julie Huttig and George Huttig bought dealerships in the fourth quarter and late in the third quarter.

Detroit 3, Toyota, Honda receive high marks in diversity scorecard

Detroit 3, Toyota, Honda receive high marks in diversity scorecard https://ift.tt/3bWrouj

John Graves, chairman of the Rainbow PUSH Automotive Project, said the chief diversity officer position has seen a rebirth recently.

Auto interest rates to stay low despite Fed bond purchase tapering, Cox Auto says

Auto interest rates to stay low despite Fed bond purchase tapering, Cox Auto says https://ift.tt/31R4AdL

The Federal Reserve will wind down its bond purchases, but a Cox Automotive economist said he didn't expect auto interest rates to climb until after the bond-buying ends altogether next year.

Toby Russell to step down as Shift co-CEO in February

Toby Russell to step down as Shift co-CEO in February https://ift.tt/3wxQkBz

George Arison, the other co-CEO, will become the sole chief executive. Most of Russell's day-to-day operational responsibilities are transitioning to Shift President Jeff Clementz.

Lithia enters motorcycle market with purchase of Pfaff Harley-Davidson in Canada

Lithia enters motorcycle market with purchase of Pfaff Harley-Davidson in Canada https://ift.tt/3D2DTAa

The deal brings Lithia's total expected annualized revenue acquired in 2021 to nearly $6.3 billion.

AutoNation completes acquisition of Priority 1 Automotive, adds 9 stores in Maryland

AutoNation completes acquisition of Priority 1 Automotive, adds 9 stores in Maryland https://ift.tt/3D9LahC

AutoNation Inc. has closed on the purchase of nine luxury dealerships in Maryland. It's the second big acquisition completed so far this year for the nation's largest new-vehicle retailer.

Why dealers are justified in asking for well over sticker price in today's market

Why dealers are justified in asking for well over sticker price in today's market https://ift.tt/3wu4J1R

It's the textbook definition of supply and demand.

Dodge to certify dealers as 'Power Brokers' in kickoff of 2-year business plan

Dodge to certify dealers as 'Power Brokers' in kickoff of 2-year business plan https://ift.tt/3wpDk17

Building a network of certified retailers is among the first steps in the brand's plan, with more details scheduled to be revealed every three months.

Why dealers are justified in asking for sticker price ... or more

Why dealers are justified in asking for sticker price ... or more https://ift.tt/3H3E3K3

It's the textbook definition of supply and demand.

Sizing up dealership job applicants: How fast do they message back?

Sizing up dealership job applicants: How fast do they message back? https://ift.tt/3kiatXI

Some dealerships look at how quickly job applicants respond to messages to gauge how they might respond to customers. Dealerships need to make sure they also respond quickly.

Mini, dealers weigh how best to compete in truck-crazy market

Mini, dealers weigh how best to compete in truck-crazy market https://ift.tt/31tS0kb

The brand's U.S. sales have fallen to its lowest since its launch nearly two decades ago. One option is to open service-only facilities as sales move online.

Cadillac will have a third fewer stores for EV shift

Cadillac will have a third fewer stores for EV shift https://ift.tt/3wphKtn

GM's luxury brand will have about 560 dealerships, down from 875 at the start of 2021 but still far more than German and Japanese rivals.

Retailers use digital-communication skills to evaluate job applicants

Retailers use digital-communication skills to evaluate job applicants https://ift.tt/3opnnV9

While virtual interviews started, in some cases, as a necessity during the pandemic to avoid in-person interaction, some dealerships now use them to gauge a candidate's abilities.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3CX2NkH

Dealers featured this week are Amy O’Brien-Kravitz, Roy O’Brien, Mark O’Brien, and Sean O’Brien of Roy O’Brien Ford in St. Clair Shores, Mich.; and John Johnson, owner-operator of Johnson Chevrolet-Buick in Clintwood, Va.

OBITURARY: Bob Braner

OBITURARY: Bob Braner https://ift.tt/3BYt29c

A former Southern California dealer who became CEO of U.S. operations for Lamborghini and Lotus, died Sept. 27 at 83.

Find ‘social champion,' and let them post away

Find ‘social champion,' and let them post away https://ift.tt/3D9Fd4F

April Simmons, corporate Internet and marketing director for Horne Auto Group in Gilbert, Ariz., hired a "social champion" to boost engagement with the group's organic social media posts.

Subaru store steps up for Ralphie the Shih Tzu

Subaru store steps up for Ralphie the Shih Tzu https://ift.tt/2Yp7DZ4

Gold Rush Subaru donated $10,000 to help pay for medical care for a 5-year-old girl's support dog.

At TrueCar, vets help vets become vehicle owners

At TrueCar, vets help vets become vehicle owners https://ift.tt/3H0GahF

Veterans David Green and Juan Barnett are working to support and expand vehicle listings company TrueCar's military outreach.

Amid U.S. megadeals, Roger Penske sees opportunity in Japan

Amid U.S. megadeals, Roger Penske sees opportunity in Japan https://ift.tt/3EYzVJL

Instead of joining other public retailers making splashy deals here, the retailer's head is looking across the Pacific.

Carter Myers acquires 4 franchised rooftops in West Virginia, Virginia

Carter Myers acquires 4 franchised rooftops in West Virginia, Virginia https://ift.tt/3EOolAH

Carter Myers Automotive has purchased Miller Auto Group, adding Chevrolet-Toyota, Hyundai, Honda and Chrysler-Dodge-Jeep-Ram dealerships.

Thinking outside of the box to fill lots

Thinking outside of the box to fill lots https://ift.tt/3wzrNfP

For Aschenbach Automotive Group, establishing a buying center was an alternative way for the company to fill the supply gap.

Carter Myers acquires 4 franchised rooftops in West Virginia, Virginia

Carter Myers acquires 4 franchised rooftops in West Virginia, Virginia https://ift.tt/3o0ORQB

Carter Myers Automotive has purchased Miller Auto Group, adding Chevrolet-Toyota, Hyundai, Honda and Chrysler-Dodge-Jeep-Ram dealerships.

Thinking outside of the box to fill lots

Thinking outside of the box to fill lots https://ift.tt/3bOUprL

For Aschenbach Automotive Group, establishing a buying center was an alternative way for the company to fill the supply gap.

U.S. vehicle sales begin long journey to recovery

U.S. vehicle sales begin long journey to recovery https://ift.tt/3bHDszs

October's SAAR ended a streak of monthly declines, and there are hints of increased incentive spending from certain brands and fuller inventories in some segments.

LaFontaine, Kayser, Kendall and Coughlin groups acquire dealerships

LaFontaine, Kayser, Kendall and Coughlin groups acquire dealerships https://ift.tt/3BObc8T

LaFontaine Automotive Group and Kendall Automotive Group are among buyers in recent dealership acquisitions in the Midwest and West.

GM Chief Information Officer Randy Mott to retire

GM Chief Information Officer Randy Mott to retire https://ift.tt/31E5Hxj

Mott, 65, redefined GM's IT business by insourcing IT operations. He also developed a private internal cloud and an advanced search engine of GM and third-party data.

Subaru profit falls by almost half on chip shortage

Subaru profit falls by almost half on chip shortage https://ift.tt/3wjUDQT

Subaru CEO Tomomi Nakamura said the automaker was also hit by rising raw material costs. The automaker's global sales fell 13 percent to 200,000 in the quarter.

Lithia sells 2 dealerships in New York

Lithia sells 2 dealerships in New York https://ift.tt/3mNfadK

Lithia Motors has now sold four dealerships this year that were part of the Carbone Auto Group, which it acquired in 2016.

2022 Toyota Tundra price starts at $37,645; EPA fuel economy improved

2022 Toyota Tundra price starts at $37,645; EPA fuel economy improved https://ift.tt/3EOqYCE

The new Tundra is expected to begin arriving in showrooms next month.

Subaru profit falls by almost half on chip shortage

Subaru profit falls by almost half on chip shortage https://ift.tt/3k8FuNL

Subaru CEO Tomomi Nakamura said the automaker was also hit by rising raw material costs. The automaker's global sales fell 13 percent to 200,000 in the quarter.

AutoNation to sell parts, refer work to shops bought by Caliber

AutoNation to sell parts, refer work to shops bought by Caliber https://ift.tt/2ZJVn5W

AutoNation had been focused on expanding its collision network. But the company said a greater return was possible on up to 17 of its shops by selling them off to its greatest collision rival and continuing to supply parts and refer customers to the locations.

Workplace flexibility can boost diversity

Workplace flexibility can boost diversity https://ift.tt/3w6JoLB

Offering flexibility to employees and listening to their needs are places to start for dealerships looking to foster a culture of diversity, equity and inclusion.

Is your dealership sales team ready for an AI assistant?

Is your dealership sales team ready for an AI assistant? https://ift.tt/3jRUFKM

When a dealership is understaffed, an important part of the sales process that tends to be pushed to the back burner is lead response and nurturing. If your sales team is letting leads slip through the cracks, they may benefit from extra help in the form of a virtual assistant.

5 smart things dealers can learn from Amazon

5 smart things dealers can learn from Amazon https://ift.tt/319IvXe

With only 14 percent of buyers starting their initial research on dealership websites, retailers are being tasked to develop new ways to engage customers.

Galpin Motors goes nationwide in Subway ad

Galpin Motors goes nationwide in Subway ad https://ift.tt/3Bz2POr

The president of Galpin Motors, a fixture of local TV ads in Los Angeles, has gained exposure across the country as part of a campaign for Subway.

 

Germain Automotive Group buys Honda store in Arizona, 3 other dealerships in 2021

Germain Automotive Group buys Honda store in Arizona, 3 other dealerships in 2021 https://ift.tt/3wo3uBd

Germain Automotive Group entered Arizona last month when it bought a Honda dealership outside Phoenix. It's one of four dealership acquisitions for the group this year, with the remaining three coming in its home state of Ohio.

Cars.com to acquire automotive fintech company CreditIQ

Cars.com to acquire automotive fintech company CreditIQ https://ift.tt/3mGDBJI

Cars.com posted higher revenue and swung to a net profit in the third quarter compared with the same period in 2020.

Hudson Automotive acquires Toyota store in South Carolina

Hudson Automotive acquires Toyota store in South Carolina https://ift.tt/3EJIvf0

Hudson Automotive Group bought its sixth Toyota dealership in a transaction that closed on Monday. Its pending acquisition of three Mercedes-Benz dealerships is expected to close this month.

Lenders might underestimate fraud exposure, survey shows

Lenders might underestimate fraud exposure, survey shows https://ift.tt/3CI1p5n

Despite new survey results indicating perception of fraud in the marketplace, Point Predictive expressed concern that lenders failed to appreciate their exposure. More than half of all lenders responding called their concern over fraud unchanged or reduced from 2020 to 2021.

First Canadian Porsche Experience Center planned for Toronto area

First Canadian Porsche Experience Center planned for Toronto area https://ift.tt/3ELiY5p

There are currently nine Porsche Experience Centers worldwide, including Atlanta and Los Angeles in the U.S.

Subprime auto loan originations near pre-pandemic levels, TransUnion says

Subprime auto loan originations near pre-pandemic levels, TransUnion says https://ift.tt/3mFW2OE

Subprime auto loan originations have yet to catch up to prepandemic levels, according to the latest TransUnion data, though an analyst said they've been improving and have neared that point.

Ford, Toyota, Honda, Hyundai, Kia sales slip again

Ford, Toyota, Honda, Hyundai, Kia sales slip again https://ift.tt/3mI9wcU

Subaru deliveries skidded for the 5th consecutive month in October as supply bottlenecks continue to undercut light-vehicle output and dealer stockpiles.

Ganley, Tasca and Corwin auto groups acquire dealerships

Ganley, Tasca and Corwin auto groups acquire dealerships https://ift.tt/3CEB8F3

Ganley Auto Group, Tasca Automotive Group and Corwin Automotive Group buy dealerships in 3 deals

Toyota, Honda, Hyundai, Kia sales slip 3rd straight month

Toyota, Honda, Hyundai, Kia sales slip 3rd straight month https://ift.tt/3bzMs9J

Industry sales are expected to fall 20 to 30 percent in October, analysts say, as supply bottlenecks continue to undercut light-vehicle output and dealer stockpiles.

Toyota, Hyundai, Kia sales slip 3rd straight month

Toyota, Hyundai, Kia sales slip 3rd straight month https://ift.tt/3CF467W

Industrywide sales are expected to fall 20 to 30 percent in October, analysts say, as supply bottlenecks continue to undercut light-vehicle output and dealer stockpiles.

Hyundai, Kia sales slip 3rd straight month

Hyundai, Kia sales slip 3rd straight month https://ift.tt/3bzoQSE

Industrywide sales are expected to fall 20 to 30 percent in October, analysts say, as supply bottlenecks continue to undercut light-vehicle output and dealer stockpiles.

Is your dealership sales team ready for an AI assistant?

Is your dealership sales team ready for an AI assistant? https://ift.tt/3jRUFKM

When a dealership is understaffed, an important part of the sales process that tends to be pushed to the back burner is lead response and nurturing. If your sales team is letting leads slip through the cracks, they may benefit from extra help in the form of a virtual assistant.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3GAS2qN

Dealers featured this week include William Page, dealer principal of Bill Page Honda in Falls Church, Va.; Gloria and Charlie Hicks, co-founder and dealer principal of Ed Hicks Imports in  Corpus Christi, Texas; Rick Russell and Jerrod Russsell, dealer principal and general manager of Russell Honda in Sherwood, Ark.; Rodman Ryan, chairman of Open Road Auto Group; Jeff and Steve Haraden, dealer principals of Mohawk Honda in Scotia, N.Y.; and Dave Sapone, president of John Meegan Ford in Connellsville, Pa.