Chevrolet dealership employee accused of giving herself unauthorized bonuses

Chevrolet dealership employee accused of giving herself unauthorized bonuses https://ift.tt/IGv2DRf

Ariel Rutenbeck, 32, was charged with grand theft for allegedly altering Dimmitt Chevrolet's payroll, giving herself $28,000 in unauthorized bonuses.

Parks Automotive Group buys Acura, Audi and BMW dealerships

Parks Automotive Group buys Acura, Audi and BMW dealerships https://ift.tt/xmT90PH

Parks Automotive Group in September bought three luxury dealerships as it entered a new market.

In midterm elections, what's at stake for auto industry

In midterm elections, what's at stake for auto industry https://ift.tt/syLlAvV

Under a GOP-controlled Congress, several policy experts said they would expect to see a shift from a more active legislative agenda to a greater reliance on congressional oversight to restrain the Biden administration's regulatory authority.

‘Great reassessment' will require car dealers to rethink recruiting strategies

‘Great reassessment' will require car dealers to rethink recruiting strategies https://ift.tt/VkE2gec

Adam Robinson, CEO of Hireology, said job seekers are most looking for schedule flexibility, career growth opportunities and fulfilling work.

Dealer's mentorship program cuts turnover by making workers' lives better

Dealer's mentorship program cuts turnover by making workers' lives better https://ift.tt/ntB06oK

Leadership at CMA's Valley dealerships in Staunton, Va., launched a mentorship program focused on health, finance and relationships to reduce employee turnover and enhance their staff's lives.

Dealer's mentorship program cuts turnover by making workers' lives better

Dealer's mentorship program cuts turnover by making workers' lives better https://ift.tt/0JLmPE4

Leadership at CMA's Valley dealerships in Staunton, Va., launched a mentorship program focused on health, finance and relationships to reduce employee turnover and enhance their staff's lives.

GMC, Nissan and Stellantis dealerships trade hands in Q4, Q3 deals

GMC, Nissan and Stellantis dealerships trade hands in Q4, Q3 deals https://ift.tt/NymiaUW

A standalone GMC dealership, plus Nissan stores and a Stellantis outlet traded hands in third-quarter and fourth-quarter deals.

Ford postpones deadline for dealers to decide on EV investment

Ford postpones deadline for dealers to decide on EV investment https://ift.tt/07hHDLj

Dealers now have an extra month to decide whether to spend up to $1.2 million on chargers and other upgrades the automaker is requiring for certification to sell EVs after 2023.

2023 could be active year for state dealer franchise legislation

2023 could be active year for state dealer franchise legislation https://ift.tt/8ZtFc9h

Panelists at Retail Forum: Chicago said a changing industry will require deeper collaboration between automakers and their franchised new-vehicle dealerships.

Larry H. Miller Hyundai Peoria named Best Dealership To Work For

Larry H. Miller Hyundai Peoria named Best Dealership To Work For https://ift.tt/YCrGT7p

It is the first time Asbury-owned Larry H. Miller Hyundai Peoria in Arizona has claimed the No. 1 spot.

Guest column: FTC's new rules would only punish honest car dealers

Guest column: FTC's new rules would only punish honest car dealers https://ift.tt/w7fhIG8

Dishonest dealers will just ignore the rules, continue to attract customers, and be the primary source of complaints to the Federal Trade Commission.

Franchised dealerships equipped to evolve with changing auto retail model

Franchised dealerships equipped to evolve with changing auto retail model https://ift.tt/vcfQoy4

Franchised dealers have the entrepreneurial skill and spirit to adapt their businesses to meet a changing industry, executives at two retail technology companies said at the Automotive News Retail Forum: Chicago event.

Sonic posts record Q3 revenue, net income

Sonic posts record Q3 revenue, net income https://ift.tt/nKWpird

Sonic Automotive Inc. posted higher third-quarter net income and revenue despite sales declines at its EchoPark used-only stores and new-and used-vehicle sales on a same-store basis at its franchised dealerships.

U.S. dealership average pay surpasses $100K while turnover tumbles

U.S. dealership average pay surpasses $100K while turnover tumbles https://ift.tt/Ngnv6O0

Average industry turnover was 34 percent in 2021 — the lowest level in the 11-year history of the National Automobile Dealers Association's annual Dealership Workforce Study.

Group 1 Q3 net income rose 14% on record revenue

Group 1 Q3 net income rose 14% on record revenue https://ift.tt/g8mi2Uo

New-vehicle days' supply in the U.S. as of Sept. 30 improved to 15 from 11 as of Sept. 30, 2021, and from nine as of Dec. 31, 2021.

Group 1 Q3 net income rose 14% on record revenue

Group 1 Q3 net income rose 14% on record revenue https://ift.tt/V7wFc6s

New-vehicle days' supply in the U.S. as of Sept. 30 improved to 15 from 11 as of Sept. 30, 2021, and from nine as of Dec. 31, 2021.

Penske's Q3 net income slips despite record revenue

Penske's Q3 net income slips despite record revenue https://ift.tt/nhyXwag

Penske Automotive Group Inc. posted lower net income in the third quarter, as used-vehicle sales dipped.

Firm invests $70M into dealership group led by Jonathan Sobel

Firm invests $70M into dealership group led by Jonathan Sobel https://ift.tt/o1039Kf

Franchise Equity Partners is officially in the auto dealership business following a $70 million investment into Jonathan Sobel-led Georgica Auto Holdings.

Penske's Q3 net income slips despite record revenue

Penske's Q3 net income slips despite record revenue https://ift.tt/15CBwXJ

Penske Automotive Group Inc. posted lower net income in the third quarter, as used vehicle sales dipped.

Employee ordered to pay back nearly $50K to Chrysler-Dodge-Jeep-Ram dealership

Employee ordered to pay back nearly $50K to Chrysler-Dodge-Jeep-Ram dealership https://ift.tt/EMyuXW1

Nicole Bradley tampered with financial records and used unauthorized funds from Erwin Chrysler-Dodge-Jeep in Troy, Ohio.

Lucid opens retail studio in Saudi Arabia as it moves into Middle East EV market

Lucid opens retail studio in Saudi Arabia as it moves into Middle East EV market https://ift.tt/2qr1lDw

The "luxury retail space" in Riyadh will introduce Middle East customers to the California-based brand. Lucid also plans to build a factory in Saudi Arabia.

Arizona dealership group gets green light to pursue suit over raid by state AG

Arizona dealership group gets green light to pursue suit over raid by state AG https://ift.tt/Keqs5CW

A federal judge in Phoenix has given the green light to Mark Enterprises to pursue a lawsuit against state attorney general agents after a raid in October 2019.

For Cadillac and its dealers, Celestiq EV is just a beginning

For Cadillac and its dealers, Celestiq EV is just a beginning https://ift.tt/2nmwuOy

The $300,000 Cadillac Celestiq EV is a launch point for doing more "iconic" things for the brand in the future.

Hyundai sued over allocation practice

Hyundai sued over allocation practice https://ift.tt/mpGPSMn

A Hyundai dealer based in New York is suing the automaker for withholding inventory after not opting into the newest image program.

Arizona dealership group gets green light to pursue suit over raid by state AG

Arizona dealership group gets green light to pursue suit over raid by state AG https://ift.tt/GwV7zaP

A federal judge in Phoenix has given the green light to Mark Enterprises to pursue a lawsuit against state attorney general agents after a raid in October 2019.

How a VW dealership’s competitions boosted alignment, tire sales

How a VW dealership’s competitions boosted alignment, tire sales https://ift.tt/JUPEzaR

Onion Creek Volkswagen boosted sales of alignments and tires by establishing a process that all service advisers follow and by holding competitions. Commissions, bonuses and other spiffs are up for grabs each month.

LinkedIn Live talk from the Automotive News Retail Forum

LinkedIn Live talk from the Automotive News Retail Forum https://ift.tt/QS5opGe

Join us on LinkedIn at noon Eastern on Oct. 27 for a live talk with Mark LaNeve, chairman of the auto dealership vertical at Franchise Equity Partners and former top sales and marketing executive at both General Motors and Ford Motor Co.

How Lithia is diversifying and thinking globally

How Lithia is diversifying and thinking globally https://ift.tt/no75djH

Lithia has made dealership acquisitions, digital retail and its own captive finance unit company hallmarks as it aims to reach $50 billion in annual revenue by 2025. But some business diversification appears on tap.

Baxter Auto sells 4 Stellantis dealerships in unique deal

Baxter Auto sells 4 Stellantis dealerships in unique deal https://ift.tt/b8Jv03g

Baxter Auto Group sold four Stellantis dealerships to Edwards Auto Group, which kept two of the stores. Edwards Auto sold two dealerships to two different auto retailers.

Retail new-vehicle sales dip 3% in first 16 days of October

Retail new-vehicle sales dip 3% in first 16 days of October https://ift.tt/n4our0y

Retail sales of passenger vehicles dropped 3 percent from a year earlier in the first 16 days of October because of the negative impact from strict government anti-pandemic measures, the China Automobile Dealers Association said Wednesday. 

Used-car sales slide 2nd straight month amid anti-pandemic measures

Used-car sales slide 2nd straight month amid anti-pandemic measures https://ift.tt/v8VTgc7

Sales of used light vehicles in China declined for the second straight month, with September volume dipping 4.5 percent to just under 1.2 million, according to a tally from the China Automobile Dealers Association. 

LMP Automotive sells Stellantis dealership, signs deal to sell Kia dealerships

LMP Automotive sells Stellantis dealership, signs deal to sell Kia dealerships https://ift.tt/Kbmsp0R

The Chrysler-Dodge-Jeep-Ram dealership in White Plains, N.Y., is Tasca Automotive Group's first store in that state.

Lithia Motors' Q3 net income rises as revenue hits record

Lithia Motors' Q3 net income rises as revenue hits record https://ift.tt/sAiqjzI

Lithia Motors Inc., which continued its dealership network expansion in the third quarter, posted vehicle sales increases and record revenue.

Passport Automotive settles FTC suit over illegal fees, discrimination for $3.38 million

Passport Automotive settles FTC suit over illegal fees, discrimination for $3.38 million https://ift.tt/uSYcUrn

Passport Automotive agreed to pay $3.38 million to settle a Federal Trade Commission lawsuit filed against the dealership group for charging illegal fees and discriminating against Black and Latino customers. The dealer group denies it discriminated.

Passport Automotive fined $3.38 million in FTC discrimination suit

Passport Automotive fined $3.38 million in FTC discrimination suit https://ift.tt/462SXKJ

Passport Automotive Group will pay $3.38 million to settle a Federal Trade Commission lawsuit filed against the dealership group for charging illegal fees and discriminating against Black and Latino customers.

Michigan officials ask state court to deny Carvana's injunction bid in licensing dispute

Michigan officials ask state court to deny Carvana's injunction bid in licensing dispute https://ift.tt/dty6QAT

Lawyers for Michigan Secretary of State Jocelyn Benson said the state was authorized when it suspended Carvana's license because of titling and registration issues.

NADA picks Gary Gilchrist as likely 2024 chairman

NADA picks Gary Gilchrist as likely 2024 chairman https://ift.tt/3OoLkHA

Gary Gilchrist, president of Gilchrist Chevrolet-Buick-GMC in Tacoma, Wash., was elected 2023 vice chairman during the association's board meeting Tuesday. This puts him in line to be chairman in 2024.

Cadillac Celestiq poses big commission challenge

Cadillac Celestiq poses big commission challenge https://ift.tt/5oJI8Mu

The Celestiq buying experience will be as important as the customized car itself, especially with this price tag and clientele.

Column: At Digital Dealer, discussions of culture, customers and change

Column: At Digital Dealer, discussions of culture, customers and change https://ift.tt/ZVgo0t2

This was my first time attending the Digital Dealer conference, and the subject matter naturally dovetails with my retail technology beat.

What will EVs, over-the-air fixes mean for dealership service departments?

What will EVs, over-the-air fixes mean for dealership service departments? https://ift.tt/qAOQowR

Electric vehicles will require additional investment in training and tooling and have fewer parts than gasoline-powered vehicles, raising long-term concerns about the impact to service, but some dealers say they see opportunity ahead.

Dealer anniversaries

Dealer anniversaries https://ift.tt/PHQZ0zK

The dealers featured this week is Joel Herman, dealer principal of Herman Motor Co., a Ford dealership in Luverne, Minn., and Richard Herman, former dealer principal.

Dealership service business is strong, but challenges loom

Dealership service business is strong, but challenges loom https://ift.tt/CcedIwB

Dealerships' service and parts businesses are doing well, in part because more consumers are holding on to older vehicles longer. But issues exist, including technician shortages and parts availability.

Lotus adds dealers, gears up for five new vehicles by 2028

Lotus adds dealers, gears up for five new vehicles by 2028 https://ift.tt/I0SprVB

Lotus Cars Managing Director Matt Windle's U.S. visit last month comes as the brand expands its dealer network and readies for the biggest onslaught of new models in company history.

Point Predictive, CreditMiner tech helps dealers combat fraud

Point Predictive, CreditMiner tech helps dealers combat fraud https://ift.tt/dcg0VhF

Point Predictive said auto dealerships have reported more fraudulent borrowers — and being forced by lenders to buy back the ensuing loans.

U.S. vehicle inventories at highest point since June 2021

U.S. vehicle inventories at highest point since June 2021 https://ift.tt/AIQLaVK

Inventory and days supply levels continued to recover in September from their record lows earlier this year as a slower selling rate allowed automakers to regrow some dealer stocks.

Better training, new tool bring loan fraud to light

Better training, new tool bring loan fraud to light https://ift.tt/wpb7mTz

A fifth of indirect auto lenders polled by Point Predictive in 2021 didn't require car dealers to buy back fraudulent or early-defaulting loans.

Carvana sues Michigan to reverse license loss

Carvana sues Michigan to reverse license loss https://ift.tt/H36okCu

Carvana says it was not provided a hearing or adequate chance to respond to allegations in suspension decision in Michigan.

Honda's U.S. dealers want to be part of Sony Honda venture

Honda's U.S. dealers want to be part of Sony Honda venture https://ift.tt/9U1FJzm

A new joint venture formed by Sony Group and Honda plans to introduce a premium EV and the automaker's U.S. dealers are anxious to be part of the sales process.

Ford says top Lincoln dealers face $900,000 bill to sell EVs

Ford says top Lincoln dealers face $900,000 bill to sell EVs https://ift.tt/caXQTA2

Lincoln stores that want to sell EVs will need to invest more than four times as much as Cadillac is asking its retailers to spend, mainly to cover the cost of installing chargers for public use and service needs.

Stellantis, Ford and GM dealerships acquired in 4 transactions

Stellantis, Ford and GM dealerships acquired in 4 transactions https://ift.tt/DnmJioh

Stellantis, Ford and GM dealerships across four states were sold in second-quarter and third-quarter transactions.

GM sales edge up in Q3

GM sales edge up in Q3 https://ift.tt/QhIv8Dx

General Motors’ China sales gained 1.1 percent to some 630,000 in the third quarter after Shanghai came out of a two-month lockdown and the Chinese government rolled out tax incentives for gasoline cars in early June.

Polestar rooftops to rise with new U.S.-oriented crossover

Polestar rooftops to rise with new U.S.-oriented crossover https://ift.tt/yRKuqDj

Polestar will expand its U.S. retail network by nearly half by the end of next year.

Ford Q3 deliveries fall 11%

Ford Q3 deliveries fall 11% https://ift.tt/VlukWU1

Ford Motor Co.’s China operations continue to recover from the negative impact of sporadic coronavirus outbreaks in the country. The U.S. automaker’s deliveries in the third quarter, while rising 12 percent from the second quarter, fell 11 percent from a year earlier to some 133,000 vehicles, Ford’s China unit said this week.

September’s ‘golden’ aura loses luster, even amid latest rally

September’s ‘golden’ aura loses luster, even amid latest rally https://ift.tt/MPZzAkG

The Chinese market for new light vehicles registered a strong rebound for the fourth straight month in September. But the latest rally, spurred in part by government incentives and easing COVID restrictions, has been disappointing for many automakers and dealers.

Pohanka Automotive buys Ford, Kia and Stellantis dealerships

Pohanka Automotive buys Ford, Kia and Stellantis dealerships https://ift.tt/gQS0CdL

Pohanka Automotive Group, led by NADA Vice Chairman Geoffrey Pohanka, acquired Ford, Kia and Stellantis dealerships in August.

Longtime OpenLending CEO John Flynn retires; Keith Jezek named new leader

Longtime OpenLending CEO John Flynn retires; Keith Jezek named new leader https://ift.tt/LuVQX39

Open Lending co-founder and COO Ross Jessup also has retired.

GM's deliveries edge up in Q3

GM's deliveries edge up in Q3 https://ift.tt/dA0w3zE

General Motors’ China sales gained 1.1 percent to some 630,000 in the third quarter after Shanghai came out of a two-month lockdown and the Chinese government rolled out tax incentives for gasoline cars in early June.

Behind Lexus' multicultural marketing approach, including its Black Panther partnership

Behind Lexus' multicultural marketing approach, including its Black Panther partnership https://ift.tt/W62fweI

Senior manager Mia Phillips on the brand’s work with Marvel and how it approaches inclusive marketing.

GM’s China deliveries edge up in Q3

GM’s China deliveries edge up in Q3 https://ift.tt/wBxFaXW

General Motors’ China sales gained 1.1 percent to some 630,000 in the third quarter after Shanghai came out of a two-month lockdown and the Chinese government rolled out tax incentives for gasoline cars in early June.

Nissan launches ultra-low-mileage, pay-as-you-go lease

Nissan launches ultra-low-mileage, pay-as-you-go lease https://ift.tt/a4OtIcp

Nissan Motor Acceptance launched its SignatureFLEX program, which will allow customers to add miles to their lease throughout the life of their contract, which would start at 5,000 miles per year.

Shift Technologies receives delisting warning from Nasdaq

Shift Technologies receives delisting warning from Nasdaq https://ift.tt/ZbzSuTG

The Nasdaq stock exchange told online used-vehicle retailer Shift Technologies Inc. it could be removed from the exchange if the company's stock price continues to remain below $1 per share.

Shift received the delisting warning from the Nasdaq's listing qualifications department on Oct. 4. The department informed Shift its stock price had stayed below $1 for 30 consecutive days, a violation of the exchange's listing rules, according to a document Shift filed last week with the U.S. Securities and Exchange Commission.

Shift has 180 days from the date of the Oct. 4 notice — or until April 3, 2023 — to raise its share price. It could face the delisting process if it doesn't, according to the filing.

Automotive News has reached out to Shift for comment.

Shift shares fell 6 percent to 60 cents in midday trading. That is down more than 95 percent from its all-time high closing price of $13.98 on Sept. 1, 2020.

The San Francisco-based company recorded a $109.2 million loss through the first half of 2022 as consumer confidence waned and used-market pressures flared up. In its second-quarter earnings statement, Shift said it would revise its business plan to focus on its West Coast presence and position itself as a retailer of budget-friendly used vehicles. That will put the company on track for long-term profitability, Shift President Jeff Clementz told Automotive News in late August.

Shift also announced in August its plan to combine with CarLotz, a used-vehicle consignment company, in a stock-for-stock merger it estimates will give the combined entity a better cash position. The two companies said they expect that transaction to close in the fourth quarter, pending shareholder and regulatory approvals.

When Sutherlin Automotive called for help, dealers nationwide answered

When Sutherlin Automotive called for help, dealers nationwide answered https://ift.tt/lh0zEFT

Brett Sutherlin turned to old friends and strangers alike offering to buy any inventory other Nissan stores could offer.

Column: The customer experience is key to win trust, save time

Column: The customer experience is key to win trust, save time https://ift.tt/dYu0tsy

It's not just the consumer-facing experience on a dealership's website that needs to be smooth. So do the back-end technology links that consumers don't see.

FOJ tip

FOJ tip https://ift.tt/3I9eZbg

Winter is coming, so stock up on wipers, tires, cabin air filters and all-weather floor mats.

NADA guidelines could shape debates in states

NADA guidelines could shape debates in states https://ift.tt/WNBhSkX

A set of guiding principles by the National Automobile Dealers Association advocating on behalf of dealer franchise laws could help state association leaders frame discussions with policymakers on legislative issues.

Carvana's license at Michigan store suspended over multiple violations

Carvana's license at Michigan store suspended over multiple violations https://ift.tt/7BEsaF8

In another setback for the used-vehicle retailer, already under probabtion, a Michigan investigation cited Carvana for repeated violations covering titles, registrations and odometers.

September wholesale used-vehicle prices continue slide

September wholesale used-vehicle prices continue slide https://ift.tt/QTCmo71

Cox Automotive reported prices were 0.1 percent lower in September than the same time last year when the index stood at 204.8. It's the first time since May 2020 wholesale values declined year-over-year.

NADA sets guidelines for brand relations in retail evolution

NADA sets guidelines for brand relations in retail evolution https://ift.tt/qRaW7xX

From electric vehicles to digital retail and over-the-air updates, auto dealers are facing a lot of change. Here’s how NADA would like to see brands work with their retail partners.

Auto loan interest rate highest in 3 years

Auto loan interest rate highest in 3 years https://ift.tt/t2NAURF

Auto loan interest rates, car payments, amount financed all increase, Edmunds report says.

F&I sales up at 60% of car dealerships, Protective Asset Protection finds

F&I sales up at 60% of car dealerships, Protective Asset Protection finds https://ift.tt/ol9tW2j

Car dealership decision-makers were mixed on whether higher vehicle prices in 2022 helped GAP sales, according to the Protective Asset Protection's 2022 F&I Trends Report.

Bernie Moreno sells last dealership, looks to acquire again

Bernie Moreno sells last dealership, looks to acquire again https://ift.tt/lpuQnfv

Former U.S. Senate candidate-hopeful Bernie Moreno sold his last dealership in August in Florida. But he's looking to acquire again.

Dennis & Co. Auto buys Stellantis and Infiniti dealerships

Dennis & Co. Auto buys Stellantis and Infiniti dealerships https://ift.tt/1FGxcWz

Dennis & Co. Auto Group in August bought a dealership that had been slated to be purchased by LMP Automotive Holdings Inc. and another store from Bernie Moreno.

Column: For this reporter, a long-awaited trip to Digital Dealer

Column: For this reporter, a long-awaited trip to Digital Dealer https://ift.tt/MydALfH

I'm interested in hearing about how dealers are thinking about the digital path forward, particularly as the pandemic and inventory constraints appear likely to linger.

For this reporter, a long-awaited trip to Digital Dealer

For this reporter, a long-awaited trip to Digital Dealer https://ift.tt/QX5pbyJ

I'm interested in hearing about how dealers are thinking about the digital path forward, particularly as the pandemic and inventory constraints appear likely to linger.

Porsche dealer in Florida seeks $300 million in factory tiff

Porsche dealer in Florida seeks $300 million in factory tiff https://ift.tt/MN9hmCS

The Collection alleges that Porsche violated Florida dealer franchise law by restricting some vehicle allocation after the Miami-area dealer refused to build an exclusive brand store.

Dealer anniversaries

Dealer anniversaries https://ift.tt/zOYFHB6

Dealers featured this week include Judy Jones-Cone, dealer principal of Toyota Carlsbad in California; and Fredrick Anderson, chairman of Fred Anderson Toyota in Raleigh, N.C.

Sheriff, dealer team up, giving jailers free Bolts

Sheriff, dealer team up, giving jailers free Bolts https://ift.tt/D1emgVB

A Georgia sheriff's office is leasing a fleet of Chevy Bolts for what it says is "likely the only program of its kind for jailers nationwide."

Disruptions shift focus away from auctions

Disruptions shift focus away from auctions https://ift.tt/Rwyc7lj

The changes have auction company leaders pivoting to keep pace with dealers' evolving sourcing preferences and digital auction demands.

Volvo teams with Costco Auto Program on used-vehicle sales

Volvo teams with Costco Auto Program on used-vehicle sales https://ift.tt/qD4CHG7

The partnership on CPO incentives is a first for the Costco Auto Program.

Guest commentary: Make BDC a priority for the next tech upgrade at your dealership

Guest commentary: Make BDC a priority for the next tech upgrade at your dealership https://ift.tt/jnX1m52

Too many business development centers are using the same technology dealerships have been using for decades.

Guest commentary: Growing CPO sales are key to driving customer loyalty

Guest commentary: Growing CPO sales are key to driving customer loyalty https://ift.tt/lU1znpN

Current market conditions suggest it might not make sense to allocate incentive dollars to lure CPO buyers, but that could someday be a way to win customer loyalty.

Spitzer Automotive boosts sales with a better warranty program

Spitzer Automotive boosts sales with a better warranty program https://ift.tt/NSgtcYF

By enhancing its new- and used-vehicle warranties and certified pre-owned programs, Spitzer Automotive is boosting its value proposition and battling low inventory.