Dick's Auto Group of Oregon buys Chevy dealership

Dick's Auto Group of Oregon buys Chevy dealership https://ift.tt/3ebyw89

Shannon Inukai-Cuffee and Scott Inukai, owners of Dick's Auto Group, bought Bruce Chevrolet in Hillsboro, Ore., from longtime owner Bruce Patchett.

Lawsuit accusing Ohio JLR dealership of PPP loan fraud dismissed

Lawsuit accusing Ohio JLR dealership of PPP loan fraud dismissed https://ift.tt/3aUHIf0

Jeffrey Mattox had alleged he was fired after raising concerns that money provided to the store through the federal program was being deducted from his commissions.

Dealer profits jump in 2020 despite revenue slump

Dealer profits jump in 2020 despite revenue slump https://ift.tt/3gQ3p3w

The average profit at China’s new-vehicle dealerships surged 20 percent in 2020 even though revenue fell amid the pandemic, according to a survey conducted by J.D. Power.

April U.S. auto sales projected to double, with 18.1M SAAR

April U.S. auto sales projected to double, with 18.1M SAAR https://ift.tt/3dYSpPu

Retail sales are expected to be the highest ever recorded for the month, helped by strong consumer demand and tighter inventories at dealerships, J.D. Power and LMC Automotive said Wednesday.

Supreme Court decisions to impact auto finance industry

Supreme Court decisions to impact auto finance industry https://ift.tt/3nvYshr

One case severely hinders the Federal Trade Commission's ability to take money from companies for unfair or deceptive practices. The other clarifies what constitutes an automatic dialing system under the Telephone Consumer Protection Act.

Surging new-vehicle sales lift Penske to record Q1 results

Surging new-vehicle sales lift Penske to record Q1 results https://ift.tt/3b3kCD5

Penske Automotive said net income more than tripled to $183.1 million, and revenue jumped 15 percent to $5.77 billion.

Asbury rebounds in Q1 from coronavirus-impaired quarter in 2020

Asbury rebounds in Q1 from coronavirus-impaired quarter in 2020 https://ift.tt/3ezLF9Z

Asbury's core business lines improved in double-digit percentages across the board compared with the coronavirus-impacted quarter last year. The company's omnichannel tool Clicklane also rolled out to all of its dealerships.

Asbury posts record adjusted earnings per share in Q1

Asbury posts record adjusted earnings per share in Q1 https://ift.tt/3t3jci4

Asbury's core business lines improved in double-digit percentages across the board compared with the coronavirus-impacted quarter last year. The company's omnichannel tool Clicklane also rolled out to all of its dealerships.

As pandemic eases, CarMax sees customers coming back to its stores

As pandemic eases, CarMax sees customers coming back to its stores https://ift.tt/3dWeNZH

CarMax CEO Bill Nash says the growth rate of the digital revolution will remain slow.

DCD Automotive buys 2 Boston-area Chevy stores

DCD Automotive buys 2 Boston-area Chevy stores https://ift.tt/3nlVhJr

DCD Automotive Holdings of Norwood, Mass., on March 2 bought Lannan Chevrolet of Lowell and Lannan Chevrolet of Woburn, both in Massachusetts, from the Lannan family.

Snethkamp Automotive adds Stellantis store in Michigan

Snethkamp Automotive adds Stellantis store in Michigan https://ift.tt/32PadpT

The Snethkamp Automotive Family bought a Chrysler-Dodge-Jeep-Ram dealership in Gaylord from Bob Feeny. The Snethkamp group has two other Chrysler-Dodge-Jeep-Ram stores in Southeast Michigan.

Dealer anniversaries

Dealer anniversaries https://ift.tt/2QZmcP6

Dealers featured this week include Frank Leta, dealer principal of Frank Leta Honda in O’Fallon, Mo.; Larry Cloninger, owner of Cloninger Toyota in Salisbury, N.C.; and Kelly Levesque, dealer principal of Capitol City Honda in Olympia, Wash.

AutoNation and Lithia poised for bold growth

AutoNation and Lithia poised for bold growth https://ift.tt/2R2mZyQ

Amid landmark earnings results, two of the largest public dealership groups in the country plan to scale operations in 2021, largely through dealership acquisitions.

BIDEN'S FIRST 100 DAYS: Initial steps on EVs, climate agenda taken — and a new crisis

BIDEN'S FIRST 100 DAYS: Initial steps on EVs, climate agenda taken — and a new crisis https://ift.tt/2S7y4zb

The president has signaled his administration is committed to a transition to electric vehicles and helping the auto industry get there. Meanwhile, the global semiconductor shortage has become a priority.

Group tunes into women's concerns

Group tunes into women's concerns https://ift.tt/3tSEO1K

Fowler Automotive Group of Norman, Okla., is listening to recommendations from a women's advisory group on making changes such as installing lactation pods for employees and customers and broadening career planning options.

Used vehicles become a newly appreciating asset

Used vehicles become a newly appreciating asset https://ift.tt/32O1Ris

Prices should begin to cool off toward the end of June, but the used-vehicle market will likely stay elevated for the rest of the year and beyond.

Reynolds working to be better team player

Reynolds working to be better team player https://ift.tt/3dRhz2l

The privately held DMS giant said it is reviewing its business practices to improve its relationships with dealerships, win back customers and "aggressively" expand its client base.

End your lease, get a check

End your lease, get a check https://ift.tt/3xnIXwO

Today's used-car prices might give dealers a powerful weapon to help ease the sting of rising new-car prices and earn customer's loyalty.

Dealers truly get away from it all

Dealers truly get away from it all https://ift.tt/2RSVqbp

Marketing company Digital Air Strike took clients on a getaway to Branson's Necker Island, where strict COVID-19 protocols allowed them to relax and trade advice mask-free.

Buyers aplenty, but dealers are running on empty

Buyers aplenty, but dealers are running on empty https://ift.tt/3xmkasR

With assembly lines idled because they can't get enough microchips and demand for new vehicles booming, dealers across the country have disconcertingly watched their inventory wither away.

Kalafer built up teams, in store and out

Kalafer built up teams, in store and out https://ift.tt/2QYjKbk

The longtime New Jersey dealer was remembered for his dedication to employees and customers — and his disdain for automakers' stair-step incentive programs.

Ford works overtime to get Mach-E rollout right

Ford works overtime to get Mach-E rollout right https://ift.tt/3nmDHFc

Ford officials have taken to Twitter to quickly correct issues and have compensated owners with discounts, free charging and other perks as it looks to build credibility among EV buyers.

Carvana in race to get more vehicles sale-ready

Carvana in race to get more vehicles sale-ready https://ift.tt/3nhSpgH

CEO Ernie Garcia said the digital used-vehicle retailer has been struggling to get its inventory ready for sale since the pandemic began, but says sales are growing quickly nonetheless.

Key Auto continues Northeast expansion with Maine acquisition

Key Auto continues Northeast expansion with Maine acquisition https://ift.tt/3tM67L5

With its latest acquisition, the group now has two dealerships in Maine.

Dealer Steve Kalafer, critic of stair-step incentives, dies at 71

Dealer Steve Kalafer, critic of stair-step incentives, dies at 71 https://ift.tt/3dJEFIs

Publicly, he railed against the "havoc" created by automakers' programs. Inside his dealerships, his motto was: "Be kind, be fair, work hard, earn money and do good."

Cheryl Miller resigns as CFO of JM Family after 3 months

Cheryl Miller resigns as CFO of JM Family after 3 months https://ift.tt/3elwUHD

The former AutoNation chief, who left the retailer last July after a medical leave, has stepped down from the company she rejoined in January. She'll consult for JM&A through 2021.

VW sets Taos pricing at $2,250 less than Tiguan

VW sets Taos pricing at $2,250 less than Tiguan https://ift.tt/3auxe5I

The 2022 VW Taos goes on sale in June and will carry a base price of $24,190, including delivery.

MUSA Auto Finance rebrands under new leadership

MUSA Auto Finance rebrands under new leadership https://ift.tt/3atYuB8

The Dallas new- and used-vehicle leasing company has changed its name to Drivrz Financial and replaced its top executive as it ramps up its used-car leasing business.

Auto booming at 3 major U.S. lenders

Auto booming at 3 major U.S. lenders https://ift.tt/32xddap

Chase Auto, Wells Fargo Auto and Ally Financial all posted strong first-quarter earnings last week, and signaled high customer demand will carry into the second quarter.

Lithia posts record revenue, earnings per share in Q1

Lithia posts record revenue, earnings per share in Q1 https://ift.tt/3tIeabU

Net income more than tripled for the nation's second-largest public dealership group in terms of new-vehicle sales compared with 2020's first-quarter earnings impacted by the coronavirus pandemic.

Cadillac prices first full EV at just less than $60,000

Cadillac prices first full EV at just less than $60,000 https://ift.tt/3atqIMs

Production of the Lyriq midsize crossover is slated to begin in the first quarter of next year at Spring Hill Assembly in Tennessee.

Braman dealerships affected by cyberattack, report says

Braman dealerships affected by cyberattack, report says https://ift.tt/3v76IXX

Florida dealership group says it "experienced a network outage which is currently impacting our operations," but did not confirm that it was a cyberattack.

To win customers, promote your experiences, not just your vehicles

To win customers, promote your experiences, not just your vehicles https://ift.tt/3tBlHJs

To think like a disrupter, dealerships should ask themselves how they're promoting the convenient customer experiences they may have built.

Alpha One dealer acquires Chevrolet-Buick store in Texas

Alpha One dealer acquires Chevrolet-Buick store in Texas https://ift.tt/3ty7dKm

Alpha One Automotive Cos. President Michael Handwerger has purchased Miller-Starnes Chevrolet-Buick in Rockdale, Texas. Handwerger is a partner in an Audi store in Louisiana and has a pre-owned luxury dealership in Round Rock, Texas.

Right fit key to online F&I experience

Right fit key to online F&I experience https://ift.tt/2P0RF2J

Dealerships face the challenge of designing an online F&I experience that is simple and transparent and doesn't slow down the process of buying a vehicle.

OBITUARY: William McKinley

OBITUARY: William McKinley https://ift.tt/3amHLzK

The longtime auto dealer died Feb. 24 at age 99.

BDC training investment pays dividends for N.C. group

BDC training investment pays dividends for N.C. group https://ift.tt/3tuiETm

Modern Automotive Group in North Carolina collected real-time data about how well business development center employees were meeting sales goals and used it to create specialized training to maximize performance.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3uT4ZFE

Dealers featured this week are Tom Jones, dealer principal of Jones Ford Wickenburg in Arizona; and Bryan Hardeman, dealer principal of First Texas Honda in Austin, Texas.

Still no auto show, so Detroit tries car crawl

Still no auto show, so Detroit tries car crawl https://ift.tt/3x0wDT3

The outdoor event aims to bring some economic activity back to Detroit and make up for some of the proceeds that normally flow from the auto show's annual charity gala

Lithia goes big on Michigan market

Lithia goes big on Michigan market https://ift.tt/32te8bD

With its acquisition of Michigan's Suburban Collection, the retailer is entering suburban Detroit — a market heavy in leasing and factory pricing business and one that some of its primary competitors have left.

SAE panelist: EVs could begin to threaten ICE's reign in 2025

SAE panelist: EVs could begin to threaten ICE's reign in 2025 https://ift.tt/3afLjnl

FEV North America's Kiran Govindswamy predicts that "is when that transition will start to happen globally and in the U.S."

Used light-vehicle sales in Q1 top pre-pandemic level

Used light-vehicle sales in Q1 top pre-pandemic level https://ift.tt/3smbbnN

China’s used light-vehicle market has fully recovered from the negative impact of the coronavirus outbreak that ravaged the country in early 2020, with sales in the first quarter far exceeding the level in the same 2019 period. 

Mortgage payments higher priority than cars, credit cards

Mortgage payments higher priority than cars, credit cards https://ift.tt/32ggydy

Auto loans fell even further on the priority list if a consumer only had one credit card, a TransUnion study also found.

California DMV open for fully digital sales

California DMV open for fully digital sales https://ift.tt/3di7yuN

The change, announced , allows digital signatures on all vehicle contracts sent to the department.

Single-store Honda dealer adds 3 dealerships near Gulf Coast

Single-store Honda dealer adds 3 dealerships near Gulf Coast https://ift.tt/3abQvbR

Ryan Mayer, president of Tameron Gulf Coast dealership group, in the past few weeks has purchased three dealerships: a Kia store in Mississippi and Buick-GMC and Chrysler-Dodge-Jeep-Ram-Fiat dealerships in Alabama.

Lithia completes deal for Michigan's Suburban Collection

Lithia completes deal for Michigan's Suburban Collection https://ift.tt/32dsU6c

The acquisition gives the Oregon company a national store count of 246. Lithia acquired 34 dealerships and annualized revenue of about $2.4 billion.

Lithia completes acquisition of Michigan's Suburban Collection

Lithia completes acquisition of Michigan's Suburban Collection https://ift.tt/3dZYCcB

The Suburban deal gives the Medford, Ore., company a national store count of 246. Lithia acquired 34 dealerships and annualized revenue of about $2.4 billion.

Baker Auto Group expands into Florida

Baker Auto Group expands into Florida https://ift.tt/2PXiBRd

The group, with two stores in New Jersey, has purchased DeSoto Auto Mall. The dealership sells Ford, Chrysler, Dodge, Jeep and Ram vehicles.

Ford digital used-car tool lifts sales as chip shortage pinches new inventory

Ford digital used-car tool lifts sales as chip shortage pinches new inventory https://ift.tt/3tbQjB4

Not only is Autotrader-powered Ford Blue Advantage giving dealers a greater slice of the pre-owned pie, it's offering them another revenue stream.

Dealers deserve access to their data

Dealers deserve access to their data https://ift.tt/2PUFll0

Under the guise of security and privacy, some red flags have been raised that dealerships should not be able to easily access their own information and share it with other vendors. This argument, however, creates a false choice.