Monday, January 31, 2022

Carvana suspension lifted in Raleigh, N.C.

Carvana suspension lifted in Raleigh, N.C. https://ift.tt/0JaMX3LYG

A 180-day suspension on Carvana's operations in Raleigh, N.C., expired on Saturday, leaving the online used-retail giant free to continue selling in the area.

The suspension was handed down last August, after a North Carolina Division of Motor Vehicles investigation found the company didn't deliver title work on time, issued out-of-state, temporary tags for a vehicle sold in North Carolina and offered a vehicle for sale without a state inspection.

Nazneen Ahmed, a spokeswoman for the state attorney general's office, confirmed to Automotive News that Carvana's dealer license was renewed Monday.

The division did not respond to a request for comment by the time of publication.

The division began investigating Carvana's Raleigh location in February last year, after a consumer raised a complaint about not being able to obtain a vehicle registration and license plates.

Carvana appealed the suspension decision in Wake County Superior Court, but later reached a settlement. The state attorney general's office represented the division in the court case.

As a condition of that settlement, Carvana said it wouldn't sell vehicles at its Raleigh location until Jan. 29.

Carvana's other dealership locations in Charlotte, Concord and Greensboro were still allowed to process title and vehicle registration paperwork during the 180 days.

From one Ford to another

From one Ford to another https://ift.tt/dYDgVBcRf

Academy Award-winning director and winemaker Francis Ford Coppola is among those eager to buy the Ford F-150 Lightning when it arrives this spring.

Sunday, January 30, 2022

Need an SUV in 4 years? Better order your Land Cruiser right now

Need an SUV in 4 years? Better order your Land Cruiser right now https://ift.tt/FVSAWlRtE

The Toyota Land Cruiser is so big in Japan that Toyota Motor Corp. is telling customers the wait for delivery has stretched to four years.

Legislation would loosen Florida's title rules

Legislation would loosen Florida's title rules https://ift.tt/QkEU6Ynah

Florida lawmakers are working on legislation that would change the state's motor vehicle title statute to give auto dealers leeway in how long it takes them to transfer titles.

What does 2022 look like? Ask the experts

What does 2022 look like? Ask the experts https://ift.tt/4P6BX1oNf

Here are excerpts from experts who spoke about the economy, the car market, production plans, powertrain evolution, mobility and the future of humanity.

Nissan dealerships have new appeal as turnaround gains momentum

Nissan dealerships have new appeal as turnaround gains momentum https://ift.tt/VtUvxOg3Z

Twenty-two percent of retailers polled in Kerrigan Advisors' 2021 Dealer Survey expect Nissan franchise valuations to increase, compared with just 8 percent a year earlier.

Saturday, January 29, 2022

Nissan dealerships have new appeal

Nissan dealerships have new appeal https://ift.tt/9YEgtj8QO

Twenty-two percent of retailers polled in Kerrigan Advisors' 2021 Dealer Survey expect Nissan franchise valuations to increase, compared with just 8 percent a year earlier.

Friday, January 28, 2022

Luxury car dealer discovers a niche in insurance

Luxury car dealer discovers a niche in insurance https://bit.ly/3AIDXVB

Lamborghini Philadelphia expects to sell insurance policies to about half its customers, potentially generating nearly $500,000 in premiums.

Embezzlement sentencing for former Price Simms Holdings CFO delayed

Embezzlement sentencing for former Price Simms Holdings CFO delayed https://ift.tt/3ADDiVk

Firle was charged in February 2021, and he pleaded guilty in July. As part of his plea, he agreed to pay more than $1.9 million in restitution to his former employer.

Automakers embrace software to unlock functionality long after a new vehicle leaves the lot

Automakers embrace software to unlock functionality long after a new vehicle leaves the lot https://ift.tt/3u9ahj9

Porsche last year began offering Taycan customers the option to unlock enhanced safety features for a one-time or monthly fee.

Dobbs Equity Partners, Starling Automotive among dealership buyers

Dobbs Equity Partners, Starling Automotive among dealership buyers https://ift.tt/3AF4Fyg

Three Chrysler-Dodge-Jeep-Ram dealerships and one Buick-GMC dealership were sold in November and December deals to a private equity firm, expanding dealership groups and first-time dealership buyers.

Thursday, January 27, 2022

Dealerships sell in December and January in Georgia, Texas, Oregon and North Carolina

Dealerships sell in December and January in Georgia, Texas, Oregon and North Carolina https://ift.tt/3u65QFH

Jim Hudson Automotive Group bought an Infiniti dealership, while three Ford dealerships changed hands in separate December or January deals.

Tesla Model 3, Kia Niro top J.D. Power EV satisfaction survey again

Tesla Model 3, Kia Niro top J.D. Power EV satisfaction survey again https://ift.tt/3H6Oe0g

Model 3 owners were more satisfied with their vehicle than those of any other premium brand. The same was true for Niro EV owners among mass-market models.

Ford used-car platform adds 14-day, 1,000-mile money-back guarantee

Ford used-car platform adds 14-day, 1,000-mile money-back guarantee https://ift.tt/3r5rTuj

The automaker said its online used-vehicle marketplace, called Ford Blue Advantage, helped lead to a 26 percent bump in certified pre-owned vehicle sales last year.

AutoNation President Jim Bender set to retire in March

AutoNation President Jim Bender set to retire in March https://ift.tt/3Gdxq6A

AutoNation president and COO Jim Bender will retire on March 4. CEO Mike Manley will assume Bender's responsibilities until a replacement is named.

Reynolds and Reynolds promotes president, COO

Reynolds and Reynolds promotes president, COO https://ift.tt/3r4bcPL

The dealership management system provider promoted Chris Walsh to president and Willie Daughters to COO.

Reynolds and Reynolds promotes president, COO

Reynolds and Reynolds promotes president, COO https://ift.tt/3G6l3ZG

The dealership management system provider promoted Chris Walsh to president and Willie Daughters to COO.

Wednesday, January 26, 2022

CarSaver, CUNA Mutual deal pitches online car shopping to credit union members

CarSaver, CUNA Mutual deal pitches online car shopping to credit union members https://ift.tt/32xWqr9

A new partnership between CarSaver and CUNA Mutual Group allows credit unions to promote auto loans to members by giving borrowers notice of preapproval and a digital means to shop and buy the actual vehicle they'll be financing.

J.D. Power-Nomis deal helps lenders adjust car loan policy on the fly

J.D. Power-Nomis deal helps lenders adjust car loan policy on the fly https://ift.tt/34a85Nk

J.D. Power will allow lenders using its PIN Navigator tool to feed retail transaction data into Nomis' Price Optimizer platform.

Knight Automotive Group of western Canada buys two California Ford dealerships

Knight Automotive Group of western Canada buys two California Ford dealerships https://ift.tt/3AxHCW9

Knight Automotive Group is among several Canadian dealership groups that have purchased dealerships in the U.S.

Tuesday, January 25, 2022

Four dealerships sell in South, Northeast

Four dealerships sell in South, Northeast https://ift.tt/3r01TR7

Springhill Automotive and Quirk Auto Group were among dealership buyers.

Monday, January 24, 2022

Ally forecasts 15% decline in used-car prices by end of 2023

Ally forecasts 15% decline in used-car prices by end of 2023 https://ift.tt/3nUhpvS

Auto lender Ally Financial is modeling a more than 15 percent cumulative decrease in used-vehicle values by the end of 2023.

Ford to suspend reservations for Maverick compact pickup

Ford to suspend reservations for Maverick compact pickup https://ift.tt/3ICUNrL

Ford told its dealers in a memo that it is suspending customer orders for the Maverick pickup truck because it is already straining to fill a backlog.

Ford to suspend reservations for Maverick hybrid pickup

Ford to suspend reservations for Maverick hybrid pickup https://ift.tt/3H9X5hq

Ford told its dealers in a memo that it is suspending customer orders for the Maverick pickup truck because it is already straining to fill a backlog.

Ford to suspend reservations for Maverick hybrid pickup, report says

Ford to suspend reservations for Maverick hybrid pickup, report says https://ift.tt/3AzDpkL

Ford told its dealers in a memo that it is suspending customer orders for the Maverick pickup truck because it is already straining to fill a backlog, The Wall Street Journal reported.

Dealer confident $100K incentive helped save lives

Dealer confident $100K incentive helped save lives https://ift.tt/33LreFB

SEAM Automotive owner Shawn Esfahani funded drawings that gave $1,000 to 100 Alabamians who got vaccinated against COVID-19.

Car dealers, brands team up vs. digital rivals

Car dealers, brands team up vs. digital rivals https://ift.tt/33ZpgB9

CarBravo and other automaker retail programs can help ensure that more vehicles are kept within the dealership network rather than sent to auctions for disrupters like Carvana, Vroom and CarMax Inc. 

Knock it off!

Knock it off! https://ift.tt/35hRIyV

Heavy demand for the Ford F-150 Lightning electric truck is good news for the automaker. But Ford now worries that the markups of up to $30,000 some retailers are demanding could be harmful.

Consumers still enjoy car-shopping experience

Consumers still enjoy car-shopping experience https://ift.tt/3tTpynW

Inventory constraints and higher prices caused buyers' satisfaction to dim in 2021 vs. 2020, according to a Cox Automotive consumer survey.

Sunday, January 23, 2022

GM: Price gouging creates ‘negative press' (like this)

GM: Price gouging creates ‘negative press' (like this) https://ift.tt/3Kvq69w

The automaker says "a small minority of bad actors" are demanding extra reservation fees, making unauthorized deals with brokers and charging "far in excess of MSRP."

Saturday, January 22, 2022

How Toyota, Lexus plan to digitally improve the service experience

How Toyota, Lexus plan to digitally improve the service experience https://ift.tt/3GXsF1S

A select few Toyota and Lexus dealers this month will be pioneers in an expansion of the brands' digital retailing systems.

Lithia dealership finds success hiring salespeople from non-automotive backgrounds

Lithia dealership finds success hiring salespeople from non-automotive backgrounds https://ift.tt/3InOmZk

"What we decided to do is to stop looking at resumes and stop looking for car people," says dealership General Manager Kevin Grant.

Friday, January 21, 2022

Keyes Hyundai finds success hiring salespeople from non-automotive backgrounds

Keyes Hyundai finds success hiring salespeople from non-automotive backgrounds https://ift.tt/3fP1jPQ

"What we decided to do is to stop looking at resumes and stop looking for car people," says dealership General Manager Kevin Grant.

Vehicle prices grew faster than U.S. wages in 2021, study says

Vehicle prices grew faster than U.S. wages in 2021, study says https://ift.tt/3tS7F98

Price surges have been exacerbated by a combination of high consumer demand and parts shortages constraining vehicle inventory.

Cadillac Escalade-V coming in 2023

Cadillac Escalade-V coming in 2023 https://ift.tt/3KxU0tN

Cadillac teased the Escalade performance variant Thursday and will share specs when the SUV is revealed this spring.

Gee Automotive adds Chevy, Chrysler-Dodge-Jeep-Ram and Ford dealerships

Gee Automotive adds Chevy, Chrysler-Dodge-Jeep-Ram and Ford dealerships https://ift.tt/3rXx5Qn

Gee Automotive Cos. made its first franchised dealership acquisition since late 2020 with the purchase of three Oregon dealerships this week.

Former Reagor-Dykes CFO sentenced to 7 years in prison

Former Reagor-Dykes CFO sentenced to 7 years in prison https://ift.tt/3FWAOmc

Shane Smith, Former Reagor-Dykes Auto Group CFO, was sentenced along with 15 others to seven years in prison after pleading guilty for his role in a $50 million wire fraud conspiracy.

Wednesday, January 19, 2022

5,000 fake employers flagged on car loan applications since 2019: Here's how to spot them

5,000 fake employers flagged on car loan applications since 2019: Here's how to spot them https://ift.tt/357nbDR

Consumers claiming fake employers were associated with about $1 billion worth of loan value from February 2019 to December 2021, Point Predictive said Thursday.

Talking F&I wage, hour issues with Fisher Phillips

Talking F&I wage, hour issues with Fisher Phillips https://ift.tt/3fECPbQ

F&I personnel paid on commission tend to be exempt from federal overtime requirements, according to Chris Hoffman, co-chairman of Fisher Phillips' dealership practice group. However, those staffers will still likely need to keep track of their time like an hourly employee, he said.

5,000 fake employers flagged on car loan applications since 2019

5,000 fake employers flagged on car loan applications since 2019 https://ift.tt/3nDDUow

Consumers claiming fake employers were associated with about $1 billion worth of loan value from February 2019 to December 2021, Point Predictive said Thursday.

Sonic Automotive enters New York, adds 6th Chevy dealership

Sonic Automotive enters New York, adds 6th Chevy dealership https://ift.tt/3fE6T7r

Sonic Automotive purchased its first franchised dealership in New York state. The retailer also exited a Mini franchise in California late last year.

Sonic Automotive enters New York, adds 6th Chevrolet franchise

Sonic Automotive enters New York, adds 6th Chevrolet franchise https://ift.tt/3AftFMc

Sonic Automotive purchased its first franchised dealership in New York state. The retailer also terminated a Mini franchise in California late last year.

Tuesday, January 18, 2022

Online used-car dealers gaining popularity in vehicle research, survey shows

Online used-car dealers gaining popularity in vehicle research, survey shows https://ift.tt/3A9Ct6t

Online used-vehicle retailers' websites have become another channel for consumers to research a vehicle purchase, particularly during the inventory shortage, according to Cox Automotive.

GM dealerships to get EV chargers from Blink in North America

GM dealerships to get EV chargers from Blink in North America https://ift.tt/33L4dCr

Blink said it had already shipped chargers to some GM dealerships in the U.S. and has orders in hand to supply more in the coming months.

Monday, January 17, 2022

Survey: Consumers more satisfied with vehicle shopping experience than pre-pandemic

Survey: Consumers more satisfied with vehicle shopping experience than pre-pandemic https://ift.tt/3nBzpuH

Consumers who did more of their purchase digitally tended to be happier with their experience than those who did more work in person, according to a new Cox Automotive survey.

Dealers eager to see EV plan revive Chrysler

Dealers eager to see EV plan revive Chrysler https://ift.tt/3A5JULY

The brand's goal of eliminating internal combustion engines by 2028 presents a series of challenges, including finding the right product mix and achieving enough volume to make the investment worthwhile.

All that Buzz: Reveal, reservations finally this year

All that Buzz: Reveal, reservations finally this year https://ift.tt/3rmdJEc

Volkswagen plans to reveal its much-hyped ID Buzz electric van March 9, along with pricing and reservation information, but U.S. sales may still be two years away.

Sunday, January 16, 2022

Dealer anniversaries

Dealer anniversaries https://ift.tt/3nx308u

The dealers featured this week include Roy Sommerhalter and Wayne Carenza, owner and general manager of Park Avenue BMW in Rochelle Park, N.J.; the Mathews Auto Group in Ohio and Florida and Colorado auto dealer Mike Maroone.

Worker fired for using Camaro to play cop

Worker fired for using Camaro to play cop https://ift.tt/3qzpIz2

Fernando Torres was supposed to be transporting the Chevrolet Camaro, which a local police department had taken to Duval Ford in Jacksonville to have police lights installed.

Six dealerships sell in Kan., Nev. and Mo. transactions

Six dealerships sell in Kan., Nev. and Mo. transactions https://ift.tt/3GHNrmk

Dealers Ed Bozarth and Bob Beine sold stores to different buyers last month. The transactions were for dealerships in Kansas, Nevada and Missouri.

Graham Ourisman Automotive on the hunt for more dealerships

Graham Ourisman Automotive on the hunt for more dealerships https://ift.tt/3rpHnYV

Graham Holdings Co. and Chris Ourisman of Ourisman Automotive Group continue to seek more dealership acquisition targets after buying a Ford store in Virginia last month. That dealership marked the fourth store in a partnership that formed in early 2019.

Saturday, January 15, 2022

Partnership sees ‘no ceiling' for growth

Partnership sees ‘no ceiling' for growth https://ift.tt/3KgzYUv

Graham Holdings Co. and Chris Ourisman of Ourisman Automotive Group continue to seek more dealership acquisition targets after buying a Ford store in Virginia last month. That dealership marked the fourth store in a partnership that formed in early 2019.

California car dealership pay plan breaks down sales, F&I silos

California car dealership pay plan breaks down sales, F&I silos https://ift.tt/3KbQchH

A California dealership group implemented a pay plan that incentivizes collaboration between the sales reps and F&I managers and has increased the sale of F&I products.

Friday, January 14, 2022

Calif. car dealership pay plan breaks down sales, F&I silos

Calif. car dealership pay plan breaks down sales, F&I silos https://ift.tt/3A0OYBe

A California dealership group implemented a pay plan that incentivizes collaboration between the sales reps and F&I managers and has increased the sale of F&I products.

N.Y. Toyota dealership fires two employees after racial incident goes viral

N.Y. Toyota dealership fires two employees after racial incident goes viral https://ift.tt/3I8VKrg

Empire Toyota of Long Island said it conducted an internal investigation and fired the employees in under 24 hours.

Ford works to limit dealership markups on F-150 Lightning EV

Ford works to limit dealership markups on F-150 Lightning EV https://ift.tt/33Fk4Cw

Heavy demand for the electric truck is good news for an automaker. But Ford now worries that the markups of up to $30,000 some retailers are demanding could be harmful.

Four dealerships change hands in N.Y., Ala. and N.C.

Four dealerships change hands in N.Y., Ala. and N.C. https://ift.tt/3A2mabI

These four single-store transactions closed in the fourth quarter.

Thursday, January 13, 2022

Honda tempers 'out of whack' expectations for EV demand in U.S.

Honda tempers 'out of whack' expectations for EV demand in U.S. https://ift.tt/34HzEOd

Honda's cautious assessment comes amid an all-electric product push by many rival automakers and just days after a Ford executive said EVs could grow to 10 percent of the U.S. market this year.

Wednesday, January 12, 2022

Lamborghini's global sales jump 13% to record 8,405 vehicles

Lamborghini's global sales jump 13% to record 8,405 vehicles https://ift.tt/3GmXnkF

The increase was led by an 11 percent increase in the U.S., the brand's largest market.

Used-vehicle sales set U.S. record in 2021

Used-vehicle sales set U.S. record in 2021 https://ift.tt/3fgfLzU

Cox Automotive estimated that used-car sales finished 2021 at 40.9 million vehicles, an increase of about 10 percent over 2020.

KPA: Payment packing, fraud vigilance big issues for F&I

KPA: Payment packing, fraud vigilance big issues for F&I https://ift.tt/33snFDR

Dealership F&I departments might wish to review internal practices to head off two errors the compliance firm KPA is repeatedly observing in the industry: payment packing and a lack of vigilance regarding loan applicants.

Customers want F&I help while shopping for cars online

Customers want F&I help while shopping for cars online https://ift.tt/3fjAlj4

Forty percent of car buyers surveyed felt it was extremely important to have a person to talk to about finance and insurance products when shopping online.

Lawsuit: BMW off-lease policy deprived customer of nearly $4,000

Lawsuit: BMW off-lease policy deprived customer of nearly $4,000 https://ift.tt/3tmeL5B

A California man has sued BMW and BMW Financial alleging their ban on buyouts by third-party dealers interfered with his contract to sell a Toyota store his off-lease 2019 X3 at a profit. He seeks class-action status for himself and other lessees whose terms ended after Oct. 1, 2021.

Tuesday, January 11, 2022

GM to launch used-vehicle shopping platform CarBravo

GM to launch used-vehicle shopping platform CarBravo https://ift.tt/337daFW

Chevrolet, Buick and GMC dealers can enroll immediately, and the consumer launch is expected to begin this spring. Cadillac is developing a separate program.

Semiconductor shortage will cause U.S. auto sales to climb just 3.4%

Semiconductor shortage will cause U.S. auto sales to climb just 3.4% https://ift.tt/339sHVU

NADA, representing 16,000 U.S. car retailers, said the chip shortage and COVID-19 will blunt U.S. auto sales growh in 2022.

Monday, January 10, 2022

Arizona DMS data-access law could become ‘the one to mimic'

Arizona DMS data-access law could become ‘the one to mimic' https://ift.tt/3q72xM5

Some state dealership association leaders said Arizona's law could be a template for other states to follow now that it has survived a legal challenge.

Ways for dealerships to walk the DE&I talk

Ways for dealerships to walk the DE&I talk https://ift.tt/3FibjeM

Forty-six percent of dealership employees say that leadership does not do what they say when it comes to diversity, equity and inclusion.

Dealerships' preparation can fend off cyberattacks

Dealerships' preparation can fend off cyberattacks https://ift.tt/3qbbHY8

They should prepare for increasing cyberthreats by training employees to spot malicious emails and installing security controls.

Dallas dealer gives Kia to scammed teen

Dallas dealer gives Kia to scammed teen https://ift.tt/3trXgkz

Frank Kent Motor donated a vehicle to replace one that another store repossessed after a deal that went wrong.

Sunday, January 9, 2022

Birchwood Automotive Group's diverse staff makes stronger ‘family'

Birchwood Automotive Group's diverse staff makes stronger ‘family' https://ift.tt/34B6Ozb

Cultural diversity and gender equality are playing key roles in hiring practices among dealers who want their work forces to more accurately reflect their customer base.

Dealer anniversaries

Dealer anniversaries https://ift.tt/33flHX9

Dealers featured this week include Lon Ravesloot, dealer principal of Paul-Richard GM Center, a Chevrolet-Buick-GMC dealership in Peru, Ind.; Steve Snyder, president of Gold Rush Subaru in Auburn, Calif.; and Troy Duhon and Will Lewis, owner and general manager of Toyota of New Orleans.

Saturday, January 8, 2022

How a Florida Audi store used personalized videos to boost its business

How a Florida Audi store used personalized videos to boost its business https://ift.tt/3HM5GHb

The videos have proved to be a vital tool, especially during the pandemic, because they jump-start the sales process and help sales employees capitalize on leads by almost immediately.

Friday, January 7, 2022

Wholesale used-vehicle prices grew more slowly in December, might rise more in the spring

Wholesale used-vehicle prices grew more slowly in December, might rise more in the spring https://ift.tt/32QQry1

Cox Automotive's Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim's U.S. auctions, rose 1.6 percent in December compared with November.

Three domestic brand dealerships change hands in Mich., Fla., Calif.

Three domestic brand dealerships change hands in Mich., Fla., Calif. https://ift.tt/3rg1FV1

Three dealerships were sold in transactions late last year in Michigan, Florida and California.

VW GROUP: VW posts best year in U.S. since 2013; Audi up 5%

VW GROUP: VW posts best year in U.S. since 2013; Audi up 5% https://ift.tt/3GcQ3s8

VW said 2021 was its best year for U.S. sales since 2013, despite an 11 percent fourth-quarter drop. Audi deliveries fell 47 percent in the quarter, but was still up 5 percent for the year.

Thursday, January 6, 2022

VinFast offers discounts for EV buyers in U.S.; batteries not included

VinFast offers discounts for EV buyers in U.S.; batteries not included https://ift.tt/3zz0DXN

Vietnamese automaker VinFast is offering discounts to early reservation holders in the U.S. for its future EVs, which start at $41,000 excluding the battery, which must be leased.

Electrified vehicle sales set to hit 6M in 2022, dealer group predicts

Electrified vehicle sales set to hit 6M in 2022, dealer group predicts https://ift.tt/3zyJ2z7

Sales of electrified passenger vehicles including all-electric cars and light trucks, and plug-in hybrids, will range from 5.5 million to 6 million vehicles in 2022, the China Automobile Dealers Association said this week.

Police shoot man at Ford dealership after officer assaulted

Police shoot man at Ford dealership after officer assaulted https://ift.tt/3n1iCB7

Officers were called to Wynne Ford in Hampton, Va., by store staff after a 30-year-old man carrying a bat "was acting aggressively," Hampton Police Chief Mark Talbot said at a press conference.

VinFast offers discounts for EV buyers in U.S.

VinFast offers discounts for EV buyers in U.S. https://ift.tt/3eYi3Um

Vietnamese automaker VinFast is offering discounts to early reservation holders in the U.S. for its future EVs, which start at $41,000 excluding the battery, which must be leased.

Wednesday, January 5, 2022

Three groups buy dealerships in December transactions

Three groups buy dealerships in December transactions https://ift.tt/34jcYUl

East Hills Auto Group, Bergey's Inc. and the Viva & Fiesta Auto Group each acquired dealerships in December.

What will drive F&I profitability in 2022?

What will drive F&I profitability in 2022? https://ift.tt/3zry3Y8

Three trends contributed to a banner year for auto finance and insurance departments and will continue to drive higher F&I profits in 2022. Consumers are uncertain about the pandemic but familiar with protection products, and dealerships are offering F&I presentations online.

Forecast: Bank 60-month direct car loan rate to stay below 5%

Forecast: Bank 60-month direct car loan rate to stay below 5% https://ift.tt/3t8duie

that banks would charge new- and used-vehicle buyers higher interest rates this year following a decline in 2021.

Car prices won't deter customers in 2022, EFG says

Car prices won't deter customers in 2022, EFG says https://ift.tt/3HDdB9L

Consumers will be able to afford vehicles in 2022 despite rising prices, and their demand means auto dealerships will have a strong year.

December U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia slide; GM skids 43% in Q4

December U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia slide; GM skids 43% in Q4 https://ift.tt/3HCsjxD

Across the industry, December sales are forecast to drop an estimated 23 to 32 percent, analysts say, closing 2021 on a down note, though annual volume will rise slightly. Toyota grabbed annual U.S. sales crown from longtime market leader GM.

Tuesday, January 4, 2022

HYUNDAI-GENESIS: More key milestones in 2021

HYUNDAI-GENESIS: More key milestones in 2021 https://ift.tt/3sWOQkI

Hyundai set a record for retail sales in 2021, while Genesis more than tripled deliveries compared with 2020.

December U.S. auto sales: Toyota, Honda, Hyundai, Kia slide again; GM skids 43% in Q4

December U.S. auto sales: Toyota, Honda, Hyundai, Kia slide again; GM skids 43% in Q4 https://ift.tt/3ETFt7M

Across the industry, December sales are forecast to drop an estimated 23 to 32 percent, analysts say, closing 2021 on a down note, though annual volume will rise slightly. Toyota grabbed annual U.S. sales crown from longtime market leader GM.

Toyota tops GM for 2021 U.S. sales crown

Toyota tops GM for 2021 U.S. sales crown https://ift.tt/3eSLreq

Toyota Motor finished 2021 as the nation's top-selling automaker, the first time since 1931 that any automaker other than GM could make that claim in the U.S.

Retail tech trends to watch in 2022

Retail tech trends to watch in 2022 https://ift.tt/32LO8vS

From continued evolution of online sales to ongoing cybersecurity threats, this is what's ahead for dealerships in the new year.

Toyota grabs annual U.S. sales crown for first time from longtime leader GM

Toyota grabs annual U.S. sales crown for first time from longtime leader GM https://ift.tt/3mWKI0m

Toyota Motor finished 2021 as the nation's top-selling automaker, the first time since 1931 that any automaker other than GM could make that claim in the U.S.

Toyota, Honda, Hyundai, Kia slide again; GM skids 43% in Q4

Toyota, Honda, Hyundai, Kia slide again; GM skids 43% in Q4 https://ift.tt/3f5OUGV

Across the industry, December sales are forecast to drop an estimated 23 to 32 percent, analysts say, closing 2021 on a down note, though annual volume will rise slightly. Toyota grabbed annual U.S. sales crown from longtime market leader GM.

Toyota, Hyundai, Kia slide again; GM skids 43% in Q4

Toyota, Hyundai, Kia slide again; GM skids 43% in Q4 https://ift.tt/3pSIC3x

Across the industry, December sales are forecast to drop an estimated 23 to 32 percent, analysts say, closing 2021 on a down note, though annual volume will rise slightly. Toyota grabbed annual U.S. sales crown from longtime market leader GM.

Hyundai, Kia U.S. sales slide again

Hyundai, Kia U.S. sales slide again https://ift.tt/31nltg0

Across the industry, December volume is forecast to drop an estimated 23 to 32 percent from a year earlier, analysts say, closing 2021 on a down note, though annual volume will rise slightly to around 15 million.

Monday, January 3, 2022

W.Va. dealer Chris Miller files pre-candidacy for state governor

W.Va. dealer Chris Miller files pre-candidacy for state governor https://ift.tt/3JF7hQY

Miller, an owner of the family-run Dutch Miller Auto Group, filed the preliminary paperwork with the West Virginia Secretary of State in December.

Electric explosion: CES to spotlight EV technology

Electric explosion: CES to spotlight EV technology https://ift.tt/3eGFL7o

The unveiling of the electric Chevy Silverado is just one way that consumers and automakers alike might be paying more attention to electric vehicles during this year's CES technology showcase.

Loft life coming to historic showroom

Loft life coming to historic showroom https://ift.tt/3zkgVDM

A former Ford dealership building in North Carolina that dates to the 1940s is being restored and converted into affordable housing.

NADA sees record profits for dealers

NADA sees record profits for dealers https://ift.tt/32S8q6H

Dealership profitability could keep rising in 2022 as supply chain shortages continue to squeeze inventories.

Sunday, January 2, 2022

OBITUARY: Tom Caruso

OBITUARY: Tom Caruso https://ift.tt/34gfNWm

The remarketing industry veteran died Dec. 21 at 62.

Dealers, rethink how you do business

Dealers, rethink how you do business https://ift.tt/3pPrKuy

The inventory shortage is a paradigm shift with long-term implications for dealers.

Earnings variant

Earnings variant https://ift.tt/3eN2kax

While the chip shortage is expected to continue to squeeze inventories, dealership profitability is expected to keep rising in 2022.

Ex-dealer convicted in Toyota fraud case

Ex-dealer convicted in Toyota fraud case https://ift.tt/3zxBooV

James Pinson used his Kentucky used-car lot, bribes and 350 fake titles to make the automaker buy back trucks at 50 percent over market value.

How service depts. can get ahead of theft

How service depts. can get ahead of theft https://ift.tt/32JgUgO

Theft is a substantial risk facing dealerships. However, the sources might surprise business owners.

Chips' sales grip may only slightly ease in '22

Chips' sales grip may only slightly ease in '22 https://ift.tt/3FKBqfc

Even as production schedules improve, inventory is expected to remain tight for much of the coming year after plunging in 2021 to the lowest level since the Great Recession.