Chevy Bolt buyers to get retroactive discounts ahead of price cut

Chevy Bolt buyers to get retroactive discounts ahead of price cut https://ift.tt/mpMw95R

Chevy plans to cut the price of the 2023 Bolt EV and EUV by about $6,000, so the brand is compensating customers who paid more when discounts and inventory were scarce.

'Completely unwarranted': NADA CEO challenges proposed FTC car dealer rules

'Completely unwarranted': NADA CEO challenges proposed FTC car dealer rules https://ift.tt/BGzqyc4

NADA CEO Mike Stanton on Thursday blasted a series of on retailer advertising and F&I as "completely unwarranted, redundant and ineffectual requirements" bound to bog down the process for customers.

Kansas Buick dealership faces 2 more lawsuits alleging hostile work environment, whistleblower retaliation

Kansas Buick dealership faces 2 more lawsuits alleging hostile work environment, whistleblower retaliation https://ift.tt/cJoi6X7

The new lawsuits were filed by former Brogden controller Lynda Cole and human resource specialist Brooke Nemechek.

Craft Automotive to sell Honda, Hyundai, Stellantis dealerships to Carter Myers Automotive

Craft Automotive to sell Honda, Hyundai, Stellantis dealerships to Carter Myers Automotive https://ift.tt/c7kyKhS

Craft Automotive Group said it signed an agreement to sell three dealerships to Carter Myers Automotive. The transaction is slated to close in August.

Tesla leads in luxury brand loyalty, and it's not slowing down, S&P Global Mobility says

Tesla leads in luxury brand loyalty, and it's not slowing down, S&P Global Mobility says https://ift.tt/qg8MPUX

Tom Libby: Tesla's internal loyalty rate "is an ominous, frankly, ominous trend for the rest of the industry."

FTC proposal would crack down on car dealers' websites, F&I offices

FTC proposal would crack down on car dealers' websites, F&I offices https://ift.tt/OBhINot

The agency is also considering new rules on dealerships' advertising related to the cost of the vehicle itself.

Data privacy regulations continue to evolve

Data privacy regulations continue to evolve https://ift.tt/MbUL9TY

Dealerships are preparing for the updated federal Safeguards Rule to take effect this year, while more states have passed privacy laws and Congress is debating a federal law.

FTC proposes rules for car dealers' websites, F&I offices

FTC proposes rules for car dealers' websites, F&I offices https://ift.tt/DHK0GMx

The agency is also considering cracking down on dealerships' advertising related to the cost of the vehicle itself.

Data privacy regulations continue to evolve

Data privacy regulations continue to evolve https://ift.tt/X7e8uh9

Dealerships are preparing for the updated federal Safeguards Rule to take effect this year, while more states have passed privacy laws and Congress is debating a federal law.

McGovern Automotive Group buys Stellantis dealership, its fifth acquisition of 2022

McGovern Automotive Group buys Stellantis dealership, its fifth acquisition of 2022 https://ift.tt/B4EJMFD

McGovern Automotive Group, founded in 2016, has expanded to 18 dealerships across three Northeast states.

Cox lowers full-year forecast to 14.4 million vehicles

Cox lowers full-year forecast to 14.4 million vehicles https://ift.tt/klqoKgB

It's the second time this year Cox has lowered its sales forecast. It initially stood at 16 million vehicles, as the industry continues to struggle with a global semiconductor shortage that has upended supply chains and sapped dealer inventory.

As Lucid opens stores, it will take pop-ups to other cities

As Lucid opens stores, it will take pop-ups to other cities https://ift.tt/Rxewb2O

Lucid is opening stores in major U.S. cities, but at the same time, it's taking its "Grand Tour" pop-up on the road to let more people take a test drive.

For traditional retailers that embrace technology, future is bright

For traditional retailers that embrace technology, future is bright https://ift.tt/5DWxM3A

As the automotive landscape undergoes fundamental changes, traditional dealers may be in a better current position than they expected — as long as they embrace technology to leverage their strengths into the future.

Ford stops letting customers buy EVs at lease end

Ford stops letting customers buy EVs at lease end https://ift.tt/W1ZE3kN

The policy is meant to help the automaker better manage EV battery recycling.

Dealers, don't ditch retail best practices

Dealers, don't ditch retail best practices https://ift.tt/oJjh0Gn

The momentum in the auto retail business is causing some dealers to neglect important sales elements like communication and customer experience, writes an Automotive News reader in a letter to the editor.

How women can climb retail ladder

How women can climb retail ladder https://ift.tt/a2LDhIg

In a letter to the editor, an Automotive News reader offers strategies for women to get ahead in the auto retail industry.

Mercedes-Benz should do it the American way

Mercedes-Benz should do it the American way https://ift.tt/FgP7Dm6

Mercedes-Benz's retooling of U.S. dealer operations is similar to a successful strategy developed by U.S. management in the late 90's, writes an Automotive News reader in a letter to the editor.

C is for cookies, but CDK isn't anymore

C is for cookies, but CDK isn't anymore https://ift.tt/j5GiXUq

CDK is closing Fresh Beginnings, a bakery started as a source of gourmet gifts for dealership clients, four years after acquiring it as part of a software company buyout.

Rattler rides in style, to store's surprise

Rattler rides in style, to store's surprise https://ift.tt/HYWjXz3

A venomous snake hitched a ride inside a Ferrari for nearly 300 miles before slithering out into the showroom of the brand's dealership in Vancouver.

Q1 buy-sells tracking on same busy pace as '21

Q1 buy-sells tracking on same busy pace as '21 https://ift.tt/GyXpZCs

Dealership buy-sell activity in the first quarter of 2022 was similar to that of the same period in 2021, according to data compiled from industry experts and Automotive News.

Highlights from the latest Daily Drive podcasts, June 20-23

Highlights from the latest Daily Drive podcasts, June 20-23 https://ift.tt/1A0qSap

Highlights from the latest episodes of 'Daily Drive', Automotive News' weekday podcast, June 20-23, hosted by Jamie Butters with Kellen Walker.

Bruton Smith was a 'visionary' in retail and racing

Bruton Smith was a 'visionary' in retail and racing https://ift.tt/FOG3fhK

Bruton Smith, a pioneer-turned-titan in both auto retailing and motorsports, leveraged small roles selling cars and promoting dirt-track races to create two business giants: Sonic Automotive and Speedway Motorsports.

GM investment opens UVeye tech to dealership service departments

GM investment opens UVeye tech to dealership service departments https://ift.tt/j5CDdAw

General Motors said it made an undisclosed investment in UVeye, an Israeli-based automated vehicle inspection technology developer, through its GM Ventures unit.

As part of the collaboration, announced Wednesday, GM will have access to UVeye's technology, such as an underbody scanner that can detect frame damage; a system that checks tire quality and issues such as sidewall damage; and a 360-degree detection system that checks sheet metal and other external body issues.

"We're excited to have GM as a partner. They share the same vision regarding the customer and consumer experience at the dealerships," UVeye CEO Amir Hever said. "GM has the largest dealer network, with over 4,000 dealerships, which is the largest and most significant for us as UVeye."

GM has made the technology available to purchase for its dealership network to upgrade vehicle inspection systems in service lanes. Use of the technology will not be mandatory, said Dave Marsh, GM's technical integration engineer.

"Here's the plan. Once they see it and they hear their peers talking about it, I think it's going to take care of that itself. They're going to want to adopt it," Marsh said. "We're on a journey, and certainly, I think we can get to some critical mass in a relatively short period of time."

Dealers can expect to pay a monthly service fee of "a few thousand dollars" for the technology, Hever said.

Marsh said some dealers are already using it and have found it beneficial.

"It's amazing the difference it's making from the customer experience," Marsh said. "By the time we're done, I think we're gonna mark this day, and I think we're gonna say 'They started to change the way customers are treated on the service line.' "

GM is the fourth automaker to invest in UVeye, joining Toyota, Hyundai and Volvo.

CarMax used-car sales down again in latest quarter amid inflation, affordability woes

CarMax used-car sales down again in latest quarter amid inflation, affordability woes https://ift.tt/4pELzBy

The company retailed a total of 240,950 used vehicles in the quarter ending May 31, down 11 percent from the same time last year. Comparable store used-vehicle sales also fell 12.7 percent.

Gen Z more frustrated with car-buying process than older generations, CDK says

Gen Z more frustrated with car-buying process than older generations, CDK says https://ift.tt/5CTXvm6

CDK said 81 percent of Gen Z members said their biggest priority when purchasing a car was taking their time and exploring all of their options.

Kia granted injunction to halt sale of California dealership

Kia granted injunction to halt sale of California dealership https://ift.tt/NrFa0Tb

Kia America Inc. won a preliminary injunction against Rally Auto Group and would-be purchasers Alam Khan and his Dalia Auto Group. A federal judge in California found a likelihood of consumer confusion if Rally and Dalia continued to use Kia's trademark and other intellectual property.

CarLotz shutters 11 stores as it realigns for profitability

CarLotz shutters 11 stores as it realigns for profitability https://ift.tt/THfVqzD

The used-vehicle consignment company, in announcing the move this week, blamed vehicle sourcing snafus and said it needed to preserve cash.

Kia granted injunction to halt sale of Calif. dealership

Kia granted injunction to halt sale of Calif. dealership https://ift.tt/eO1XuDo

Kia America Inc. won a preliminary injunction against Rally Auto Group and would-be purchasers Alam Khan and his Dalia Auto Group. A federal judge in California found a likelihood of consumer confusion if Rally and Dalia continued to use Kia's trademark and other intellectual property.

Congressional watchdog to study automotive ‘right to repair' issues

Congressional watchdog to study automotive ‘right to repair' issues https://ift.tt/AwihOkr

The action comes after Rep. Jan Schakowsky urged the U.S. Government Accountability Office to examine "federal agencies' efforts to ensure consumers' right to repair" with respect to light-duty cars and trucks.

AlixPartners predicts supply chain issues to last through 2024; EV costs grow

AlixPartners predicts supply chain issues to last through 2024; EV costs grow https://ift.tt/n8PU9DT

Supply constraints and the semiconductor shortage will fester in the auto industry through 2024, consulting firm AlixPartners said at its annual Global Automotive Outlook briefing.

"We see pent-up demand driving sales through it, but it's a very important distinction from the many that are saying it's getting better and it's going to be gone," Mark Wakefield, co-leader of the automotive and industrial practice at AlixPartners, said during the briefing Wednesday. "We'd say it's getting better, but it's not going to be gone for the next two years."

A report presented at the briefing predicted that global vehicle sales would fall to 79 million in 2022 from 80 million last year but would rise to 87 million in 2023.

The report also said the automotive industry has made advances in electrification. According to the briefing, the industry has committed $526 billion through 2026 for the transition from gasoline-powered vehicles to electric vehicles.

The firm said raw materials for EVs were $8,255 per vehicle, nearly twice the cost of raw materials for internal combustion vehicles because of the increased cost of cobalt, nickel and lithium. Elmar Kades, also co-leader of the automotive and industrial practice, said during the briefing that the transition to EVs is projected to cost automakers and suppliers a total of $70 billion by 2030. The report said, however, that 40 to 60 percent of these costs could be prevented if companies avoided bankruptcy and reduced continuity and tooling costs.

The report also said that the EV charging station business model isn't currently viable and that more public charging stations are necessary. According to Kades, the U.S. needs to invest nearly $50 billion in charging infrastructure by 2030 to meet the demands of electrification.

"Families with houses have a high tendency to charge at home ... but those who are not living in their houses have to charge externally," Kades said. "U.S. public charging stations have to go up within the next eight, nine, 10 years by a factor of 18."

The report said EV purchases could account for 33 percent of global automotive sales by 2028 and 54 percent by 2035, up from less than 8 percent of sales last year.

Reuters contributed to this report.

Canada's Dilawri Group buys Ferrari-Maserati dealership in suburban Washington, D.C.

Canada's Dilawri Group buys Ferrari-Maserati dealership in suburban Washington, D.C. https://ift.tt/dTVgJbq

Dilawri's purchase of Ferrari of Washington and Maserati of Washington for an undisclosed price, marks its "first strategic expansion" outside Canada

Higher interest rates could trickle down to auto demand

Higher interest rates could trickle down to auto demand https://ift.tt/n7tRGeo

Vehicle buyers are likely to feel the Federal Reserve's recently announced 0.75-point interest rate increase, analysts from Cox, Moody's and Edmunds agreed. Dealerships could feel it as well. Edmunds anticipated an impact upon both new and used demand, while Moody's predicted interest rates would curtail new-vehicle sales next year.

Canada's Dilawri Group buys Ferrari, Maserati stores in suburban Washington, D.C.

Canada's Dilawri Group buys Ferrari, Maserati stores in suburban Washington, D.C. https://ift.tt/Xg6qCtM

Dilawri's purchase of Ferrari of Washington and Maserati of Washington for an undisclosed price, marks its "first strategic expansion" outside Canada

GM begins taking orders for 2024 Cadillac Lyriq EV

GM begins taking orders for 2024 Cadillac Lyriq EV https://ift.tt/pWGzFMb

The Debut Edition of the 2023 Cadillac Lyriq has sold out and rear-wheel-drive versions are expected to go on sale this fall.

Victory Automotive Group buys Honda, Ford-Hyundai-Toyota dealerships

Victory Automotive Group buys Honda, Ford-Hyundai-Toyota dealerships https://ift.tt/iIsYv4r

Victory Automotive Group, one of the largest privately owned dealership groups in the U.S., made its first acquisition since December 2021.

Ford's Matt VanDyke leaving company, named president of digital marketing vendor

Ford's Matt VanDyke leaving company, named president of digital marketing vendor https://www.autonews.com/retail/fords-matt-vandyke-leaving-company-named-president-digital-marketing-vendor

VanDyke will become president of Shift Digital effective June 28.

Dealer anniversary

Dealer anniversary https://ift.tt/PbMmWgK

Featured this week is Garlyn Shelton, dealer principal of Garlyn Shelton Mazda in Temple, Texas.

Acquisitions' cultural fit key as Brown & Brown grows footprint

Acquisitions' cultural fit key as Brown & Brown grows footprint https://ift.tt/xhwgI75

The Daytona Beach, Fla., insurance brokerage firm Brown and Brown Dealer Services continued its buying spree this month, with an eye toward the cultural fit of its acquisitions.

OBITUARY: Lou LaRiche

OBITUARY: Lou LaRiche https://ift.tt/FVkNATn

The longtime auto dealer died June 9 at age 90 in Northville, Mich.

Edmunds: New-car affordability hard to measure

Edmunds: New-car affordability hard to measure https://ift.tt/K2EArT0

The company no longer has a rule of thumb on what percentage of a buyer's income can be affordably spent on a car payment.

New vehicle prices surge, but there's no shortage of buyers

New vehicle prices surge, but there's no shortage of buyers https://ift.tt/AJB6bVM

The average new vehicle now costs nearly what a typical American — or even an entire household — makes in a year, but nobody seems all that concerned.

Automakers say they're mindful of price to keep customers in fold

Automakers say they're mindful of price to keep customers in fold https://ift.tt/rL076Q1

Though vehicle prices represent a larger share of household income than in the past, automakers call their pricing accessible and representative of consumer demand for more expensive models.

Cybertruck, Lightning or first available?

Cybertruck, Lightning or first available? https://ift.tt/F8KM1VD

Many consumers have placed multiple refundable reservations for upcoming electric pickups to keep their options open, according to a new survey.

5 of 6 publics top $2K in per-car F&I profit

5 of 6 publics top $2K in per-car F&I profit https://ift.tt/bDr45RJ

Five out of the six major publicly traded auto dealership groups produced more than $2,000 in same-store finance and insurance gross profit on every vehicle transaction during the first quarter. Asbury breached the $2,000 mark during the first quarter with a $2,376 same-store gross-profit, joining four of its peers there. Penske is the last of the six below $2,000, but it's less than $100 away.

Kia partners with Affinitiv for digital service lane platform

Kia partners with Affinitiv for digital service lane platform https://ift.tt/INSivZO

Kia's dealers will have access to a tech-based service lane platform via a partnership with Affinitiv, a software firm specializing in automotive solutions.

Wholesale used-vehicle price indexes show slight seasonal increase in May

Wholesale used-vehicle price indexes show slight seasonal increase in May https://ift.tt/YIcnRdb

Indexes from J.D. Power and Black Book both show that wholesale used-vehicle prices grew in May, as is typical in the spring selling season.

Volvo readies EV tech center in New Jersey for dealership training

Volvo readies EV tech center in New Jersey for dealership training https://ift.tt/VEjBM6t

Major project, on a 20-acre parcel, will have 50 charging stations and be used to train technicians on EVs.

Subaru, Kia, Honda, Chevy and Stellantis dealerships sell in acquisitions in four states

Subaru, Kia, Honda, Chevy and Stellantis dealerships sell in acquisitions in four states https://ift.tt/28WNVJ7

Two larger dealership groups expanded in second-quarter transactions on the East and West coasts, while two smaller auto retailers also added stores in first-quarter and second-quarter purchases.

GM's David Strickland: Industry needs EV tax credit for mass adoption

GM's David Strickland: Industry needs EV tax credit for mass adoption https://ift.tt/FVU8KoN

GM, Ford, Stellantis and Toyota on Monday asked Congress to remove the cap on the tax credit.

Dealers need ‘seat at the table' on EV policy, says NADA's Mike Stanton

Dealers need ‘seat at the table' on EV policy, says NADA's Mike Stanton https://ift.tt/xRGpYwE

At the Automotive News Congress in Washington, Mike Stanton said: "We've talked a lot about dealer and factory relations, but we can't get it done alone."

American Motors enters Fresno, Calif., with purchase of Toyota, GM, VW dealerships

American Motors enters Fresno, Calif., with purchase of Toyota, GM, VW dealerships https://ift.tt/jAriC79

American Motors bought five dealerships in two transactions over the past two months.

Electric truck consumers are placing more pre-orders than what they intend to buy, study finds

Electric truck consumers are placing more pre-orders than what they intend to buy, study finds https://ift.tt/KS5c6i7

EV customers are using refundable reservations to pre-order more than one electric vehicle and keep their options open.

Two former FCA salesmen indicted on wire fraud charges over use of employee discounts

Two former FCA salesmen indicted on wire fraud charges over use of employee discounts https://ift.tt/d0STjAn

The case underscores how employee discounts can be manipulated, potentially fraudulently, to boost sales — particularly in automotive hubs such as Michigan.

Mass-market EV, luxury ICE buyers display same credit, behavior

Mass-market EV, luxury ICE buyers display same credit, behavior https://ift.tt/z1r0wd9

So far, mainstream electric vehicle buyers have brought the credit and even the behavior of luxury internal combustion engine buyers to far less expensive models, according to a TransUnion analysis of internal and S&P Global Mobility data from 2021.

Rare car colors retain more value, study says

Rare car colors retain more value, study says https://ift.tt/APj13CX

Karl Brauer of iSeeCars.com hopes the study will persuade people to purchase vehicles with the colors they really want.

Rare car colors retain more value, study says

Rare car colors retain more value, study says https://ift.tt/T3Puq0b

Karl Brauer of iSeeCars.com hopes the study will persuade people to purchase vehicles with the colors they really want.

Dealerships ‘farm' for service technicians

Dealerships ‘farm' for service technicians https://ift.tt/xUazb8V

Shawn Vaughan developed a model of hiring that departs from the industry's traditional recruitment practices.

Experts shine light on fixed ops in growing wave of podcasts

Experts shine light on fixed ops in growing wave of podcasts https://ift.tt/IPK05Yp

There has been a surge in the number of podcasts about the service, parts and collision aspects of a car dealership since the pandemic hit in early 2020.

Fixed ops director injects some pep in old dealership's step

Fixed ops director injects some pep in old dealership's step https://ift.tt/2iktrnO

Shawn Butler, the new fixed ops director at Bristol Honda in Tennessee, is reviving a moribund and neglected service department that's been underperforming for years.

Customers go to auto dealer for repairs, but eyes wander

Customers go to auto dealer for repairs, but eyes wander https://ift.tt/0GtsB6j

Franchised dealerships view body shops as a potential profit center. But customers, when deciding where to get damaged vehicles repaired, look elsewhere for recommendations.

3 things we're talking about

3 things we're talking about https://ift.tt/IY0A9JH

Expanding Ford's tech training program; 2022 FutureTechs Rock Awards winner; and "Shark Tank" winner

Dealership not liable in accident involving loaner

Dealership not liable in accident involving loaner https://ift.tt/T93qxwm

A North Carolina dealership can't be held liable for an accident involving a service customer who was driving a complimentary loaner, a federal appeals court has ruled.

WrenchWay gives mechanics a look at dealership perks

WrenchWay gives mechanics a look at dealership perks https://ift.tt/lxORSzD

Job-recruitment platform WrenchWay gives auto techs an insider's view of dealerships' operations, equipment, pay levels, company culture and other pertinent information.

How to customize your message to the customer

How to customize your message to the customer https://ift.tt/M1ndkCa

Joe Shaker, principal owner of Shaker Auto Group and co-founder of TruVideo, is excited by "conversational commerce," merchants using technology to engage with customers in real time. He's convinced it can be used with great success in fixed ops.

Big Chevy Bolt price cut may be a turning point for auto industry

Big Chevy Bolt price cut may be a turning point for auto industry https://ift.tt/jEO04UR

The decrease could mark a pivotal moment in EV pricing across the industry, especially as U.S. gasoline prices average near $5 per gallon, and it could pressure other brands to reduce EV prices.

Car buyers will go nearly 500 miles to get a vehicle, survey finds

Car buyers will go nearly 500 miles to get a vehicle, survey finds https://ift.tt/R2YLsfv

A recent survey found the average person was willing to travel up to 469 miles to purchase a used vehicle.

Upstart platforms, peer-to-peer sites squeeze auctions

Upstart platforms, peer-to-peer sites squeeze auctions https://ift.tt/1zYZ5Dk

While consumers and dealers were using digital platforms to buy and sell used cars before the pandemic, the use of such options has skyrocketed in the era of COVID-19.

Standing out as digital needs keep increasing

Standing out as digital needs keep increasing https://ift.tt/Gwb7M6y

The importance of technology to a dealership's operations today can't be overstated. It's clear with each new product or acquisition announcement from retail technology companies.

Ford adjusts EV standards, ups training with dealer feedback

Ford adjusts EV standards, ups training with dealer feedback https://ift.tt/UQ0BmnX

Executives have adjusted their thinking on some aspects, but the automaker is largely sticking with plans to have dealerships sell EVs at nonnegotiable prices and offer customers the ability to complete their purchase online.

U.S. vehicle inventory stays flat at 1.13 million

U.S. vehicle inventory stays flat at 1.13 million https://ift.tt/Noru9jq

U.S. inventory levels continued to bounce along at just over 1.1 million vehicles and roughly a 35-day supply, where they have stayed for much of the year.

Minnesota dealers attempt to block their state's adoption of California regulations

Minnesota dealers attempt to block their state's adoption of California regulations https://ift.tt/LlhkGNR

The Minnesota Automobile Dealers Association filed a second lawsuit attempting to block the Minnesota Pollution Control Agency's adoption of California's clean car rules, which would require dealers to carry a higher percentage of EVs and hybrids.

Ford adjusts EV standards, ups training with dealer feedback

Ford adjusts EV standards, ups training with dealer feedback https://ift.tt/ybjDakQ

Executives have adjusted their thinking on some aspects, but the automaker is largely sticking with plans to have dealerships sell EVs at nonnegotiable prices and offer customers the ability to complete their purchase online.

Mountain View Auto Group president involved in Hawaii helicopter crash

Mountain View Auto Group president involved in Hawaii helicopter crash https://ift.tt/a7WlM1G

Clay Watson, Mountain View Auto Group president, was involved in a Hawaii helicopter crash with his two daughters.

Kia, Hyundai, Chevy, Stellantis and Ford dealerships acquired in 2 states

Kia, Hyundai, Chevy, Stellantis and Ford dealerships acquired in 2 states https://ift.tt/hEWjpbT

Kia, Hyundai, Chevy, Stellantis and Ford dealerships sold in second-quarter transactions in New York and Wisconsin.

Car dealers positive, but less optimistic about next 3 months

Car dealers positive, but less optimistic about next 3 months https://ift.tt/lVnpbYk

Despite similar profits and market conditions, franchised dealerships polled by Cox this spring were a little less optimistic about the future than they were in the first quarter.

Ford, Kia, Hyundai top mainstream EV registrations; Tesla dominates luxury segment

Ford, Kia, Hyundai top mainstream EV registrations; Tesla dominates luxury segment https://ift.tt/plEWzVP

Tesla is running away with the luxury sales crown through April and dominating the U.S. for EVs overall, according to Experian registration data. Among mainstream brands, EVs from Ford, Kia and Hyundai lead.

New-vehicle retail sales decline 17% in May

New-vehicle retail sales decline 17% in May https://ift.tt/PxYuoph

The Chinese market for new light vehicles is slowly rebounding although retail sales still contracted 17 percent in May amid persistent government anti-pandemic measures. 

Kansas Buick dealership faces racial discrimination lawsuit

Kansas Buick dealership faces racial discrimination lawsuit https://ift.tt/vcA0WTn

Jude Boliere, who is Black, alleges that he was subjected to discrimination based on his race and that he faced disciplinary action upon reporting it.

Mercedes-Benz counts on EVs to lift it back to pre-Covid volumes

Mercedes-Benz counts on EVs to lift it back to pre-Covid volumes https://ift.tt/w0cUfyI

Mercedes aims to sell about 350,000 vehicles, including up to 45,000 all-electric vehicles, in the U.S. next year.

'Switch has been flipped' on global EV growth, forecast says

'Switch has been flipped' on global EV growth, forecast says https://ift.tt/vaPeFVL

BCG's latest report said battery electric vehicles are likely to benefit in the coming years because of a significant shift away from ICE vehicles.

Ford dealership investigated by NHTSA over allegation of selling Escape with outstanding recall

Ford dealership investigated by NHTSA over allegation of selling Escape with outstanding recall https://ift.tt/JHW4OfL

NHTSA said it had received information indicating that Healey Brothers Ford in Beacon, N.Y., sold at least one new vehicle to a customer without performing required recall repairs.

Wholesale used-vehicle prices ticked up slightly in May, Manheim says

Wholesale used-vehicle prices ticked up slightly in May, Manheim says https://ift.tt/69YkiSz

Wholesale prices were 9.7 percent higher in May than they were in the year-earlier period. Those numbers are adjusted for mix, mileage and seasonality.

TrueCar acquires dealer sales platform Digital Motors, hopes to ‘accelerate' TrueCar+

TrueCar acquires dealer sales platform Digital Motors, hopes to ‘accelerate' TrueCar+ https://ift.tt/JwN6LBM

Vehicle listings company TrueCar has acquired online dealer sales platform Digital Motors, hoping to bolster the launch of its new digital retailing service, TrueCar+.

Ford dealership investigated by NHTSA over allegation of selling Escape with outstanding recall

Ford dealership investigated by NHTSA over allegation of selling Escape with outstanding recall https://ift.tt/h4n2r1D

NHTSA said it had received information indicating that Healey Brothers Ford in Beacon, N.Y., sold at least one new vehicle to a customer without performing required recall repairs.

Wholesale used-vehicle prices ticked up slightly in May, Manheim says

Wholesale used-vehicle prices ticked up slightly in May, Manheim says https://ift.tt/Z7BzGOh

Wholesale prices were 9.7 percent higher in May than they were in the year-earlier period. Those numbers are adjusted for mix, mileage and seasonality.

E-contracting momentum appears poised to continue

E-contracting momentum appears poised to continue https://ift.tt/GUyeJNh

Technology has enabled not only electronic contracting, but the ability to sign digitally outside of the dealership.

Diehl Automotive Group adds Chevy, Toyota and Kia dealerships

Diehl Automotive Group adds Chevy, Toyota and Kia dealerships https://ift.tt/1uFqPS0

Diehl Automotive Group has acquired three dealerships as it expands to a new market in western Pennsylvania.

Toyota's Bob Carter to retire as N.A. sales boss; Jack Hollis to succeed him

Toyota's Bob Carter to retire as N.A. sales boss; Jack Hollis to succeed him https://ift.tt/trKeWXf

The moves are part of a number of executive changes being made at Toyota Motor North America.

Future of auto dealer franchise law is up for debate

Future of auto dealer franchise law is up for debate https://ift.tt/GM3v9qm

Some states, including West Virginia and North Carolina, have adopted new language in dealer franchise laws to address such changes in the industry as over-the-air updates and vehicle reservations.

Watch creep of agency model in European market

Watch creep of agency model in European market https://ift.tt/uThYEba

Where they can, more automakers are taking control of the transaction and leaving dealers as delivery agents. The potential for bad — and good — outcomes bears close scrutiny.

Dealerships fuel engagement with social media

Dealerships fuel engagement with social media https://ift.tt/aYpVQGD

Henson Brand stores in Texas reach 140,000 customers and potential customers each week with promotions on a variety of platforms.

Service department turnover issues go beyond pay

Service department turnover issues go beyond pay https://ift.tt/6rxAlC1

Managers who responded to a survey by Carlisle & Co. said they're trying to show techs and advisers a viable career path and striving to improve the culture and work environment on the service drive.

Legacy Automotive raises $500 million to fuel dealers making acquisitions

Legacy Automotive raises $500 million to fuel dealers making acquisitions https://ift.tt/ojeyVhg

Legacy Automotive Capital is aiming to deploy $500 million over the next 36 months by assisting dealers in acquiring property in buy-sell transactions or providing them capital via a dealership sale-leaseback.

Dealer declines to buy 3-wheeled Honda after crash

Dealer declines to buy 3-wheeled Honda after crash https://ift.tt/1mJltyi

The son of former MLB player Don Mattingly tried to sell his vehicle even though it was missing a tire and had clear evidence of a recent crash.

Mercedes retools U.S. dealer ops to 'right-size,' enhance field support

Mercedes retools U.S. dealer ops to 'right-size,' enhance field support https://ift.tt/pKnH4aM

Mercedes is splitting its 383 U.S. dealers into three groups — Air, Land and Sea — based on throughput, with each group assigned a sales, aftermarket and service team.

Atlantic Coast Automotive buys 6 New York dealerships

Atlantic Coast Automotive buys 6 New York dealerships https://ift.tt/ypPv1RU

Atlantic Coast Automotive Group has acquired six dealerships in New York state. The acquisition follows the June 2021 purchase of two Kia dealerships in Virginia.

Chevrolet to slash Bolt prices by $6,000 for 2023

Chevrolet to slash Bolt prices by $6,000 for 2023 https://ift.tt/Q7ABVuH

General Motors is rolling out a line of EVs powered by more advanced batteries and aims to accelerate Bolt sales to record highs this year.

Market loses more steam; SAAR tumbles to 2022 low

Market loses more steam; SAAR tumbles to 2022 low https://ift.tt/LxS3lm1

With retail inventories still stuck below 1 million units for a year now, the U.S. light-vehicle market lost more momentum in May, with the seasonally adjusted, annualized rate of sales falling to a 2022 low of 12.81 million.

 

Papin wants Nissan to talk about the product — not the deal

Papin wants Nissan to talk about the product — not the deal https://ift.tt/t5rvoVP

Nissan Americas Chairperson Jeremie Papin says the automaker is seeing an uptick in customer loyalty and new buyers attracted by an updated product lineup.

Shareholder files lawsuit in U.S. court against LMP Automotive after stock plunge

Shareholder files lawsuit in U.S. court against LMP Automotive after stock plunge https://ift.tt/hBcM3yQ

A shareholder has filed a lawsuit seeking class-action status against LMP Automotive Holdings Inc. The small publicly held dealership group also has said it will restate financial statements for the first, second and third quarters of 2021.

Volvo will partner with Epic Games for advanced EV technologies

Volvo will partner with Epic Games for advanced EV technologies https://ift.tt/Rd0yecF

Volvo hopes the partnership will improve driver-assistance and visualization technologies to provide "richer layers of information" to the driver without the "additional distraction or stress" that come with repeated notifications from the vehicle.

Toyota, Honda, Hyundai, Kia, Subaru sales slump again in May

Toyota, Honda, Hyundai, Kia, Subaru sales slump again in May https://ift.tt/CjHvTE4

With retail inventories still stuck below 1 million cars, the U.S. light-vehicle market lost more momentum in May, with the seasonally adjusted, annualized rate of sales expected to fall as low as 13.1 million.

Toyota, Honda, Hyundai, Kia sales slump again in May

Toyota, Honda, Hyundai, Kia sales slump again in May https://ift.tt/f6qPnD5

With retail inventories still stuck below 1 million cars, the U.S. light-vehicle market is expected to lose more momentum in May, with the seasonally adjusted, annualized rate of sales expected to fall as low as 13.1 million.

Victory Automotive Group sells Honda dealerships in New York, Alabama

Victory Automotive Group sells Honda dealerships in New York, Alabama https://ift.tt/s705CvP

Victory Automotive Group, which bought three dealerships in 2021, sold two Honda dealerships last week.

Toyota, Hyundai, Kia sales drop by double-digits again in May

Toyota, Hyundai, Kia sales drop by double-digits again in May https://ift.tt/DGdbmlc

With retail inventories still stuck below 1 million cars, the U.S. light-vehicle market is expected to lose more momentum in May, with the seasonally adjusted, annualized rate of sales expected to fall as low as 13.1 million.

Hyundai, Kia sales drop again in May

Hyundai, Kia sales drop again in May https://ift.tt/EicBCGb

With retail inventories still stuck below 1 million units, the U.S. light-vehicle market is expected to lose more momentum in May, with the seasonally adjusted, annualized rate of sales expected to fall as low as 13.1 million.