Sales pace slowing as dealerships run dry

Sales pace slowing as dealerships run dry https://ift.tt/3AiDtoG

Second-quarter U.S. deliveries are still expected to reach the highest level since at least 2018, but analysts anticipate declining volume in the months ahead.

Car dealer sentenced to 60 months in odometer-tampering and fraud case

Car dealer sentenced to 60 months in odometer-tampering and fraud case https://ift.tt/3qyKVra

Shmuel Gali purchased and then altered the mileage of an estimated 690 used vehicles before selling them at wholesale auto auctions.

Exeter to be acquired by private equity-led investor group

Exeter to be acquired by private equity-led investor group https://ift.tt/3Ac4FVT

One of the largest subprime auto finance companies in the U.S. is being purchased by an investor group led by private equity firm Warburg Pincus.

Supreme Court ruling on TransUnion case to limit suits under federal statute

Supreme Court ruling on TransUnion case to limit suits under federal statute https://ift.tt/2Tm6Zcj

The case involved a class action featuring thousands of consumers whose names were inaccurately flagged as potential terrorists. The plaintiff, Sergio Ramirez, was falsely designated a terrorist when he attempted to purchase a car at a Nissan dealership in 2011.

Audi plans switch to agency model for EV sales in Europe

Audi plans switch to agency model for EV sales in Europe https://ift.tt/3h5NvBZ

The automaker will sell EVs such as the e-tron and e-tron GT directly to customers, with dealers acting as intermediaries.

Lithia buys Toyota and Subaru dealerships near Seattle; Swickard adds Toyota store

Lithia buys Toyota and Subaru dealerships near Seattle; Swickard adds Toyota store https://ift.tt/3dr9ZLm

Seattle-area dealer David Broadus sold two dealerships to Lithia Motors and one to Swickard Auto Group.

A big fighter in the battle for used cars on the Web

A big fighter in the battle for used cars on the Web https://ift.tt/3x7aime

Anyone in auto retail with an Internet connection should know that the effort to buy used vehicles from consumers has largely moved online.

Asbury's CFO departs after 1 year on the job

Asbury's CFO departs after 1 year on the job https://ift.tt/3y3fWWF

The public dealership group will conduct a national search for Patrick Guido's replacement.

Time to hop off?

Time to hop off? https://ift.tt/3xTvwUG

Auto dealers have lots of reasons to sell now, as stores are fetching record prices and higher capital gains taxes are on the table.

The Subaru way: How a Buick-GMC retailer deals with tight inventories

The Subaru way: How a Buick-GMC retailer deals with tight inventories https://ift.tt/3xY1383

Veteran dealer Wally Sommer is used to having low supplies at his Subaru dealership. So when his other store's normally large stocks began dwindling, he had an idea.

CarMax aims to speed reconditioning

CarMax aims to speed reconditioning https://ift.tt/3jlRmMr

The used-vehicle giant's record Q1 results might have been even stronger if it had more sale-ready cars and trucks.

Dealer anniversaries

Dealer anniversaries https://ift.tt/2Tgcl8O

Dealers featured this week include Stacey Gillman Wimbish, president of Gillman Honda Houston; Scott Casebeer, president of Capitol Auto Group in Salem, Ore.; and Heather Carlton, owner of Carlton Motorcars, a Mercedes-Benz dealership in Greenville, S.C.

‘Icon' Fuccillo was at top of sales, marketing game

‘Icon' Fuccillo was at top of sales, marketing game https://ift.tt/3jlmQSU

The longtime New York and Florida auto dealer was known for his "It's huge!" advertising slogan.

With dad as a guide, CEO leads dealership group through expansion

With dad as a guide, CEO leads dealership group through expansion https://ift.tt/3A6PkGc

Brett Morgan, an 40 Under 40 honoree in 2013, navigated the Morgan Automotive Group through the acquisition of 32 stores from 2015 to 2020.

Will QX60 restore Infiniti's soul?

Will QX60 restore Infiniti's soul? https://ift.tt/3h5PJzW

Infiniti's future in the U.S. rides on the redesigned QX60 crossover which arrives in early fall, dealers say.

McDonald Automotive Group buys three stores in Colorado

McDonald Automotive Group buys three stores in Colorado https://ift.tt/2U4RBBf

McDonald purchased Ehrlich Toyota East and Ehrlich Chrysler-Dodge-Jeep-Ram, both in Fort Morgan, from Scott Ehrlich and John Motschall, plus Ehrlich Toyota in Greeley from the Ehrlich family.

CarMax posts record quarterly results

CarMax posts record quarterly results https://ift.tt/2UseTB1

Revenue and earnings records set two years ago - before the coronavirus pandemic hit - were shattered in the used-vehicle retailer's fiscal first quarter.

Mercedes-Benz USA accidentally puts out data from nearly 1,000 customers

Mercedes-Benz USA accidentally puts out data from nearly 1,000 customers https://ift.tt/3ddBBmZ

The data accidentally made accessible comprised self-reported credit scores, driver license and social security numbers and credit card information.

Used-vehicle prices poised for peak in U.S. after pandemic surge

Used-vehicle prices poised for peak in U.S. after pandemic surge https://ift.tt/3zPbRHv

The bellwether of the industry -- the wholesale market where dealers buy and sell in bulk -- has already topped out and prices of individual secondhand cars should follow in a matter of weeks.

Consumers paid down debts during COVID-19, study finds

Consumers paid down debts during COVID-19, study finds https://ift.tt/3vKNRSw

Consumers who left accommodation programs early were considered a low credit risk, TransUnion found, and were less likely to seek accommodations again.

Triple threats put pressure on franchise model

Triple threats put pressure on franchise model https://ift.tt/35JYKJS

A trio of issues — more electric vehicles coming to market, direct-sales challenges and digital retailing — are converging at the same time auto retailing is in a pandemic-sparked digital transformation.

N.Y., Florida dealer Billy Fuccillo Sr. dies at 65

N.Y., Florida dealer Billy Fuccillo Sr. dies at 65 https://ift.tt/2SRDE9p

Billy Fuccillo Sr., CEO of Fuccillo Automotive Group with stores in New York and Florida, died Thursday.

Entrepreneur Bobbie Herron beats the odds, forges dynamic career

Entrepreneur Bobbie Herron beats the odds, forges dynamic career https://ift.tt/3gJIi2e

The secret sauce behind her unlikely career arc? A stirring combination of confidence, inner drive, a love for learning new things and a valuable network of mentors. Being named an 40 Under 40 honoree didn't hurt, either.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3iXpga9

Dealers featured this wee include Chase Smith, president of Russell & Smith Honda in Houston; Wanda Cronic Howell, president of Cronic Chrysler-Dodge-Jeep-Ram in Griffin, Ga.; and Mario Luther, president of Freedom Ford Sales in Ebensburg, Pa.

Dealers, brands must protect customer data

Dealers, brands must protect customer data https://ift.tt/3vKfIlC

With online retail growing, dealers and industry leaders must educate themselves on the cyberthreats their businesses face.

To improve the reconditioning process, appraise the appraisers

To improve the reconditioning process, appraise the appraisers https://ift.tt/3gJ1jCf

Dealerships can capitalize on wholesale and trade-in opportunities in the coming months — and appraisers play a critical role in maximizing profit.

Transactions soar in a seller's market

Transactions soar in a seller's market https://ift.tt/3xE1aWg

Buy-sell activity surged in the first three months of 2021 compared with a year earlier, when deals were halted during the early days of the coronavirus pandemic. Now it's a seller's market, experts say, and dealers who are getting out are reaping record prices.

Dealership's used Porsche had secret: 4 newborn kittens

Dealership's used Porsche had secret: 4 newborn kittens https://ift.tt/3gLtNLE

Employees quickly got the kittens to an animal shelter, and the store is offering free detailing to anyone who adopts a cat this month.

Flex would have kept car buyers

Flex would have kept car buyers https://ift.tt/3gMKhSt

Ford made a strategic mistake when it discontinued the Flex, writes an Automotive News reader in a letter to the editor.

Wanna sell your car?

Wanna sell your car? https://ift.tt/3wLwfXR

Dealers have been deploying a variety of strategies to acquire used-vehicle inventory.

It's not just about the money, but it's clearly about the money

It's not just about the money, but it's clearly about the money https://ift.tt/2TL3pZ8

There have been so many deals — and readers have shown so much interest in them — that we're starting a new monthly page in the printed newspaper and a new monthly email newsletter about them. It's called Done Deals.

Comedian's free ad script comes with a big catch

Comedian's free ad script comes with a big catch https://ift.tt/2TNWqie

John Oliver said he would give the script to the first dealer who agrees to produce and air it sight unseen.

Mini to expand features of online retail tool

Mini to expand features of online retail tool https://ift.tt/3gRYH3J

The brand is touting its Mini Anywhere platform as a choice for dealers with digital-savvy customers who want to buy a vehicle from any location.

Used-car pricing boom bolsters lender profits

Used-car pricing boom bolsters lender profits https://ift.tt/2UqcF5r

Repossessions remained low during the pandemic, in spite of early predictions.

Entrepreneur Bobby Herron beats the odds, forges dynamic career

Entrepreneur Bobby Herron beats the odds, forges dynamic career https://ift.tt/3vEolOB

The secret sauce behind her unlikely career arc? A stirring combination of confidence, inner drive, a love for learning new things and a valuable network of mentors. Being named an 40 Under 40 honoree didn't hurt, either.

Now is the time to bolster cybersecurity

Now is the time to bolster cybersecurity https://ift.tt/3qfqm2A

The auto industry needs to step up and implement cybersecurity measures, writes an Automotive News reader in a letter to the editor.

Off-lease appreciation a tool for dealerships

Off-lease appreciation a tool for dealerships https://ift.tt/3xD1Ta0

Retailers are grounding such vehicles — purchasing them to sell to other customers — at an unprecedented level to offset scarcity in used-vehicle inventory. That's creating opportunities to negotiate for consumers.

Dealer gives 3 Mercedes thieves a second chance

Dealer gives 3 Mercedes thieves a second chance https://ift.tt/3iTKOED

The owner of a used-vehicle store in Georgia decided he would rather pay up to $19,000 in damages than have three young girls who stole the car prosecuted.

In wake of VW breach, a clearer picture on how to keep data secure

In wake of VW breach, a clearer picture on how to keep data secure https://ift.tt/2UhwVWB

Experts say the growing risk of cyberattacks means dealerships and their software vendors should stay on top of security practices.

High valuations, future worries spur some dealers to sell their stores

High valuations, future worries spur some dealers to sell their stores https://ift.tt/3zF3n5B

Buy-sell brokers note reasons for sales include lack of succession, concerns about EVs cutting their service profits, more talk of direct-to-consumer sales and not wanting to invest in facilities.

Digital retailing doesn't bother dealers, but factory mandates do

Digital retailing doesn't bother dealers, but factory mandates do https://ift.tt/3gJZu88

A brief uproar among some Stellantis dealers last month illustrates how much retailers value the ability to select what technologies work best for them.

Volvo's new knack for worrying dealers

Volvo's new knack for worrying dealers https://ift.tt/35LY0DH

The automaker's penchant to experiment with its retail strategies creates unpredictability for its retailers and could dent dealership franchise values, industry watchers say.

Delivering more than just the vehicle

Delivering more than just the vehicle https://ift.tt/3gMS0Qv

As sales continue to move online, delivery could be a dealer's only opportunity to make an in-person impression.

Digital sales tools another tension point

Digital sales tools another tension point https://ift.tt/2UnCD9y

Brands increasingly are promoting their own software, but dealers worry about giving up too much flexibility and consistency.

No store, no problem for Genesis dealer

No store, no problem for Genesis dealer https://ift.tt/3vDeOaM

Genesis of Cherry Hill in Marlton, N.J., doesn't have a standalone store. But the dealership generated high customer scores and sales success through remote valet services.

4 single dealerships change hands across Calif., Midwest, Virginia

4 single dealerships change hands across Calif., Midwest, Virginia https://ift.tt/3q8Ujl4

Martin Automotive Group, dealers Darryl Huften and Nancy Huften, Conklin Cars and Pilson Auto Centers each expanded with single-store acquisitions.

Mini rolls out online retail platform Mini Anywhere

Mini rolls out online retail platform Mini Anywhere https://ift.tt/3cOAYA4

The company is touting the new platform as a fully digital end-to-end shopping tool for customers who want to buy a car from any location.

AlixPartners: U.S. auto sales to hit 16.4 million in 2021

AlixPartners: U.S. auto sales to hit 16.4 million in 2021 https://ift.tt/3cHNGRh

Inventories, down 70 percent since the start of the year, should begin to recover by the fourth quarter, the consultancy said.

Cox Automotive names Michele Parks chief people officer

Cox Automotive names Michele Parks chief people officer https://ift.tt/3xnoUhd

Janet Barnard, executive vice president and the current chief people officer, will retire at the end of the month.

Score another one for offering more F&I products online

Score another one for offering more F&I products online https://ift.tt/2UdiNxF

A new study from F&I provider Protective Asset Protection underscores industry claims that more F&I product information is accessible online than ever before, and consumers are responding to the increased transparency.