Brockman lawyers seek delay of competency hearing

Brockman lawyers seek delay of competency hearing https://ift.tt/3dmdJgd

Attorneys for former Reynolds and Reynolds CEO Bob Brockman said he was admitted to the hospital in March for an undisclosed medical condition.

Lease buyouts increase in Q1

Lease buyouts increase in Q1 https://ift.tt/3sEm0Th

Low inventory has driven up off-lease retention values, and customers and dealerships are working to capitalize on that equity in the showroom.

Jim Ellis Automotive Group acquires Mercedes-Benz of Atlanta South

Jim Ellis Automotive Group acquires Mercedes-Benz of Atlanta South https://ift.tt/3sEz375

Jim Ellis Automotive Group has purchased Mercedes-Benz of Atlanta South from Swickard Auto Group.

Rising retail demand expected to bring Q1 sales close to pre-pandemic levels

Rising retail demand expected to bring Q1 sales close to pre-pandemic levels https://ift.tt/3wcmQZB

The industry's March SAAR is projected to top 16 million, and retail sales are projected to reach the second-highest level ever for a first quarter.

Q1 sales expected to rise despite supply kinks

Q1 sales expected to rise despite supply kinks https://ift.tt/31xBVXA

The industry's March SAAR is projected to top 16 million, and retail sales are projected to reach the second-highest level ever for a first quarter.

LMP inks deal to buy stakes in 2 N.Y. Stellantis stores

LMP inks deal to buy stakes in 2 N.Y. Stellantis stores https://ift.tt/3fqfQlZ

LMP Automotive Holdings Inc., with six franchised dealerships in West Virginia, Florida and Tennessee, has aspirations to grow by another 80 to 100 dealerships by the end of 2022.

Innovation in Silicon Valley: Megaproject to combine dealership with housing

Innovation in Silicon Valley: Megaproject to combine dealership with housing https://ift.tt/31pQFrx

A $279 million proposal aims to make the most of Silicon Valley's ultraexpensive land by building 400-plus housing units over a new Toyota dealership in Walnut Creek, Calif.

As pandemic eases, hunt for talent will intensify

As pandemic eases, hunt for talent will intensify https://ift.tt/39nBGCM

"Get ready," Hireology CEO Adam Robinson says. The search "is going to be bananas."

Dealer anniversary

Dealer anniversary https://ift.tt/3u1UzD5

The dealer featured this week is Howard Taylor, dealer principal of Taylor Motors, a Buick-Cadillac-GMC dealership in Redding, Calif.

Volvo leaves U.S. dealers confused on plans

Volvo leaves U.S. dealers confused on plans https://ift.tt/2P6i2V3

The automaker's plan to pivot to a digital-only sales model could stall in the U.S. as some retailers balk at what they see as a factory assault on the franchised dealer model.

Statehood requires a dealership?

Statehood requires a dealership? https://ift.tt/2QHtqH7

"D.C. would be the only state, the only state, without an airport, without a car dealership," said Rep. Jody Hice, apparently unaware that the district has many used-car lots and a Tesla store.

Transactions surge as buy-sell boom rolls on

Transactions surge as buy-sell boom rolls on https://ift.tt/3d7F4m8

A fourth-quarter surge in the number of U.S. dealerships sold led to one adviser declaring 2020 a record year. Several experts expect the accelerated pace to continue in 2021.

Bergstrom charges up for electrification era

Bergstrom charges up for electrification era https://ift.tt/3w9eVMI

The dealership group learned the hard way that electric vehicles can have surprising impacts on dealership expenses and operations. But it is pioneering fresh solutions.

Illinois dealers sue Rivian, Lucid Motors and state over direct sales

Illinois dealers sue Rivian, Lucid Motors and state over direct sales https://ift.tt/3daiTfh

A complaint filed yesterday in the county that contains Chicago is another salvo against upstart vehicle makers' direct-to-consumer selling model.

LMP aims to add 80 to 100 dealerships by end of 2022

LMP aims to add 80 to 100 dealerships by end of 2022 https://ift.tt/3w2VTr0

LMP Automotive, which bought its first six franchised dealerships this month, reported a sharply wider fourth-quarter net loss of $2.56 million on significantly higher outlays for acquisitions, consulting and legal expenses.

Million-dollar mall showrooms new front in EV wars

Million-dollar mall showrooms new front in EV wars https://ift.tt/2Py1Z2c

With dozens of EV makers jockeying for a slice of what is the world’s largest EV market, upstart brands like Nio and Xpeng, and the new-energy arms of SAIC and Geely, are staking out ground in malls to burnish their image as premium goods for the middle class.

China Evergrande’s $20 billion online arm considering U.S. IPO

China Evergrande’s $20 billion online arm considering U.S. IPO https://ift.tt/2P7aGQT

FCB Group is working with advisers including Bank of America and CLSA. The portal has also reached out to prospective investors for a pre-IPO funding round.

LMP buys Tennessee dealership, expands into 3rd state

LMP buys Tennessee dealership, expands into 3rd state https://ift.tt/3fa0jXe

LMP Automotive has closed on another dealership as it ramps up acquisitions.

Illinois rate cap bill signed into law

Illinois rate cap bill signed into law https://ift.tt/3f9CsHa

The law applies to auto loans and includes GAP products in the interest rate calculation.

Real prices drive digital retailing satisfaction

Real prices drive digital retailing satisfaction https://ift.tt/31bkewM

A January Market Scan survey of 200 shoppers found half of customers are willing to walk away from the deal if the in-store price is even $75 different from what they found online.

Buy-sell activity to be brisk despite crisis

Buy-sell activity to be brisk despite crisis https://ift.tt/3c6HdPH

Participants in an Automotive News Retail Forum: NADA virtual panel discussion said opportunities are out there both for dealers looking to expand their footprints and others looking to exit the business — particularly those with smaller operations.

For dealers, CPO vehicles deliver value amid pandemic

For dealers, CPO vehicles deliver value amid pandemic https://ift.tt/3cYvoKI

In a market where we would expect brands to get pummeled, we saw unique opportunities for certified pre-owned vehicles. This was especially true for brands that doubled down on the strategy.

6-figure markup works out for Audi dealer

6-figure markup works out for Audi dealer https://ift.tt/3cWLDYK

It's not uncommon to find dealers asking $10,000 over sticker for popular models, though automakers generally don't like the practice. But one dealer went to the extreme — and the resulting publicity helped get a buyer.

Alfa dealers see signs that Stellantis will invest to revitalize brand in U.S.

Alfa dealers see signs that Stellantis will invest to revitalize brand in U.S. https://ift.tt/3c9NI4g

After years of feeling overlooked by FCA, American retailers say there are signals that Stellantis is committed to investing in the Italian brand.

GM weighs stocking its EVs at regional lots

GM weighs stocking its EVs at regional lots https://ift.tt/3cYt9Hi

The automaker is considering a page out of Amazon's playbook with a plan to test inventory hubs that could then quickly deliver electric vehicles to nearby dealerships rather than just putting them all on the lot as usual.

Tax refunds, stimulus checks to fuel sales

Tax refunds, stimulus checks to fuel sales https://ift.tt/3vVZSWH

The infusion of both stimulus payments and tax refunds to households could cause used-vehicle sales to grow even more during the spring selling season.

At long last, a buyer — Lotus dealer sells Evora after 7 years

At long last, a buyer — Lotus dealer sells Evora after 7 years https://ift.tt/3vVZMyj

A 2014 Evora S 2+2 finally found its first owner in 2021, at a $20,000 discount.

Scrutiny of Sonic could fade with Smith case

Scrutiny of Sonic could fade with Smith case https://ift.tt/3sfwGYs

Criminal charges stemming from an October arrest for felony assault by strangulation were dropped. Will law firm probes of shareholder claims into company management or the board be dropped next?

Lincoln, Cadillac trim franchise totals in '20

Lincoln, Cadillac trim franchise totals in '20 https://ift.tt/3rdhcm5

The Ford luxury division's franchises dropped by 52 last year to 745 as of Jan. 1. It had more than 1,100 a decade ago. 

Vendors say transparency benefits both buyers, dealers

Vendors say transparency benefits both buyers, dealers https://ift.tt/3lDntq9

The pitch emerging from leaders of several companies is that the less-is-more approach to used-vehicle sales is antiquated in today's digital age.

Store count, throughput down in '20

Store count, throughput down in '20 https://ift.tt/3vY0ZVM

The number of U.S. dealerships and franchises both fell slightly last year, while average new-vehicle sales per franchise dropped 15 percent amid slumping volume during the coronavirus pandemic.

Ford, GM, Stellantis offer lease extensions

Ford, GM, Stellantis offer lease extensions https://ift.tt/2QfI0p6

Customers waiting on vehicle production delays from the semiconductor shortage can extend their current leases under a few conditions.

Public groups hit the gas on used-only

Public groups hit the gas on used-only https://ift.tt/3cTVi2n

Three of the nation's largest new-vehicle retailers are significantly expanding their standalone used-vehicle stores, citing growth opportunities and cost efficiencies vs. franchised stores.

Calif. dealer group puts Volvo ‘on notice' over online EV sales

Calif. dealer group puts Volvo ‘on notice' over online EV sales https://ift.tt/3tFC2wq

The California New Car Dealers Association, which represents about 20 Volvo dealers, argues in a letter to the company that online EV sales would violate state laws meant to prohibit manufacturers from competing with franchisees.

Dealership group led by Tampa Bay Buccaneers owner buys JLR store in California

Dealership group led by Tampa Bay Buccaneers owner buys JLR store in California https://ift.tt/2QocYLW

The transaction marks the fourth dealership for the private group owned by Edward Glazer, an owner and co-chairman of the NFL team.

Cox Automotive's Janet Barnard to retire after 15-year run

Cox Automotive's Janet Barnard to retire after 15-year run https://ift.tt/3eS0FBN

Her leadership at Manheim helped set the foundation for a major shift toward digital operations.

What returns to normal and what has changed forever?

What returns to normal and what has changed forever? https://ift.tt/3bV440I

How the coronavirus pandemic disrupted fixed ops in 2020 will continue to dominate discussions in 2021.

Negative equity dips on Lithia vehicle transactions

Negative equity dips on Lithia vehicle transactions https://ift.tt/3cMozfr

The average negative equity that Lithia customers rolled into their next transactions dropped nearly 20 percent during the pandemic, executives said, largely because of stimulus checks and stronger used-vehicle values.

CFPB shifts gears on 'abusive' enforcement direction

CFPB shifts gears on 'abusive' enforcement direction https://ift.tt/3vzJmv9

Moving forward, the bureau plans to use the full range of its powers, including seeking civil money penalties and disgorgement for certain abusive acts or practices.

Prime completes sale of 2 Toyota stores to Group 1

Prime completes sale of 2 Toyota stores to Group 1 https://ift.tt/30OTT7B

Group 1 CEO Earl Hesterberg said last month the nation's fourth-largest dealership group planned to be more "aggressive in growing externally" this year.

The state of the DMS market a year into the pandemic

The state of the DMS market a year into the pandemic https://ift.tt/2OE2h7h

The DMS market is in flux, with new entrants and smaller providers challenging the largest companies for dealerships' business. That's giving dealers more choices.

Bank robber uses loaner car in thwarted getaway attempt

Bank robber uses loaner car in thwarted getaway attempt https://ift.tt/3eFXNrq

About 15 minutes after the robbery, the thief returned to the dealership and tried to use the stolen cash for a down payment on a different car.

Out of last year's inconvenience, service satisfaction rose

Out of last year's inconvenience, service satisfaction rose https://ift.tt/3lhJ9b4

In the midst of a pandemic, U.S. consumers said they were significantly more satisfied with their service shop experiences.

LMP adds its name to list of public retailers

LMP adds its name to list of public retailers https://ift.tt/3cxxVLJ

The company spent $93.1 million to buy five franchised dealerships and three used-vehicle stores this month.

Inventory up, but still leaner than pre-COVID

Inventory up, but still leaner than pre-COVID https://ift.tt/3eFS70G

Automakers and dealers had 2.82 million unsold vehicles in the U.S. as of March 1, a 78-day supply. That's 17 percent less than a year earlier.

Scare inspired new AIADA chairman to use his voice

Scare inspired new AIADA chairman to use his voice https://ift.tt/3lfGBKJ

Steve Gates joined the American International Automobile Dealers Association's board of directors in 2014 amid a worrisome period for Toyota retailers.

The DMS landscape at a glance

The DMS landscape at a glance https://ift.tt/3eDg1tH

Here is a sampling of dealership management system providers that work with U.S. franchised dealerships.

To survive, offer good experience, inventory

To survive, offer good experience, inventory https://ift.tt/3te9SYQ

Dealers and fixed operations experts said during a virtual Automotive News Retail Forum: NADA panel discussion last week that gaps in dealership operations leave spaces that online competitors can exploit.

Papin to take lead for Nissan in the Americas

Papin to take lead for Nissan in the Americas https://ift.tt/3tka09r

Jérémie Papin will oversee operations across the hemisphere as the automaker returns to a previous management structure.

Super salesman learned from many mentors

Super salesman learned from many mentors https://ift.tt/3liAC88

Alex Flores was an immigrant Army veteran working as a waiter when a dealer told him he should sell cars. Now he's a dealer himself.