Guest commentary: On Ford EV requirements for dealers, let's cut through noise

Guest commentary: On Ford EV requirements for dealers, let's cut through noise https://ift.tt/KPd6skt

The most important piece of Ford's Model e business plan is that it endorses the franchise system. Without that, nothing else would matter.

J.D. Power: Perception of lender matters in auto finance

J.D. Power: Perception of lender matters in auto finance https://ift.tt/9WUbu8Y

Capital One Auto Finance ranked No. 1 among luxury-vehicle lenders in the J.D. Power 2022 U.S. Consumer Financing Satisfaction Study, while Ford Credit for a second year ranked first among consumers with loans or leases on mass-market vehicles.

Woman dies in crash during test drive outside Florida Nissan dealership

Woman dies in crash during test drive outside Florida Nissan dealership https://ift.tt/A8rLlOu

A central Florida woman was killed while participating in a test drive of a 2023 Nissan Rogue from a dealership in Winter Haven, Fla.

Stellantis evaluating dealers for chargers, EV sales needs

Stellantis evaluating dealers for chargers, EV sales needs https://ift.tt/kNVn6zW

The automaker is working to ease dealerships into its ambitious EV rollout, but it has no plans to specify the dollar amounts they'll need to invest as GM and Ford have done.

Leo Michael Cartoon: Carvana's options

Leo Michael Cartoon: Carvana's options https://ift.tt/MVRq0ej

Carvana has been pressed in recent months by waning used-car demand, cash burn, a crashing stock price and regulatory challenges in several states.

Editorial: Use Safeguards Rule extension wisely, dealers

Editorial: Use Safeguards Rule extension wisely, dealers https://ift.tt/IqElBSA

With the imposition of the Federal Trade Commission's Safeguards Rule extended until June 6, dealerships should have enough time to get their consumer information data security house in order and come into compliance.

Helfman Maserati hosts party to show off Grecale

Helfman Maserati hosts party to show off Grecale https://ift.tt/TLMytqY

Consumers got a chance to look at the new Grecale, enjoy plenty of food and beverages, and mingle with brand ambassadors.

Dealer anniversaries

Dealer anniversaries https://ift.tt/Gxh4Uqm

Dealers featured this week include Zack and Jerre Penney, president and chairman of Bill Penney Toyota in Huntsville, Ala.; and John Magarity, dealer principal of North Penn Mazda in Colmar, Pa.

As sustainability-conscious Gen Z buyers emerge, automakers should build reputation now, study recommends

As sustainability-conscious Gen Z buyers emerge, automakers should build reputation now, study recommends https://ift.tt/MXWKUBI

Sustainability isn't top of mind for most vehicle buyers, but its a growing movement with passionate supporters who are willing to pay more. This group will continue to grow as Gen Z develops purchasing power, according to a Simon-Kucher & Partners survey.

Kia, Jaguar Land Rover, Volvo dealerships trade hands across four states

Kia, Jaguar Land Rover, Volvo dealerships trade hands across four states https://ift.tt/l3GYcqk

Growing Ken Ganley Cos. entered a new state and bulked up its Ohio footprint; McGovern Automotive Group, which has been an active dealership buyer in 2022, continued its acquisition drive.

Ford CPO sales gains buck the trend

Ford CPO sales gains buck the trend https://ift.tt/oRKdkNf

Dealers participating in the Ford Blue Advantage program are experiencing double-digit gains at a time when sales of certified pre-owned vehicles nationwide are on pace to decline from 2021 levels.

Nissan primes the EV pump

Nissan primes the EV pump https://ift.tt/AVyKqJ4

Nissan's EV Carefree+ initiative helps address a significant dealer pain point — the impact of low-maintenance electric vehicles on their high-growth fixed ops business.

Lithia Motors hires Adam Chamberlain, former Aston Martin Americas president

Lithia Motors hires Adam Chamberlain, former Aston Martin Americas president https://ift.tt/YZbxMdX

Lithia Motors has hired Adam Chamberlain as a regional president of operations. He formerly was president of Aston Martin's Americas region.

Lithia Motors buys Stellantis dealership, sells Acura store

Lithia Motors buys Stellantis dealership, sells Acura store https://ift.tt/wGiPkbm

Lithia Motors' buy-sell activity continued in November with the purchase of a Chrysler-Dodge-Jeep-Ram dealership and the sale of an Acura store.

Private buyers drive dealership buy-sell activities in first half of '22

Private buyers drive dealership buy-sell activities in first half of '22 https://ift.tt/TejEn80

Automotive News tracked 178 buy-sell transactions in the first half of 2022, involving 253 U.S. franchised dealerships trading hands. While the transaction count rose from the first half of last year, the number of stores acquired dipped.

Johnson: First Black dealer for GM helped guide others

Johnson: First Black dealer for GM helped guide others https://ift.tt/YL5UgCf

Al Johnson got into the car business by balancing a job in hospital administration with being the "salesman who sold from a briefcase" at Noting Oldsmobile in Kirkwood, Mo.

Earnhardt: Cowboy marketing blazed a trail

Earnhardt: Cowboy marketing blazed a trail https://ift.tt/oAc2mgr

A rodeo cowboy and hype man who built a retail empire in Arizona, Earnhardt rode a steer in TV commercials, prompting his group's signature tag line: "That ain't no bull!"

Car lot thefts escalate to chaos

Car lot thefts escalate to chaos https://ift.tt/gcNrGxM

One of the thieves died after crashing a stolen Ford Mustang, and police feared other armed suspects were hiding on a Michigan university campus.

Dealer anniversaries

Dealer anniversaries https://ift.tt/b9KsM38

Dealers featured this week include Larry and Dorothy Begnal, president and vice president of L.T. Begnal Motor Co., a Chrysler-Dodge-Jeep-Ram-Fiat dealership in Kingston, N.Y.; Tim Levak and Tommy Levak Jr., president and used-car manager respectively of Mark Thomas Ford in Cortland, Ohio; Marty Lustgarten, vice president of Martin Dealerships in Newark, Del.; and Rose Winter, dealer principal of Winter Chevrolet in Pittsburg, Calif.

Audi, VW, Stellantis, Buick-GMC and Hyundai dealerships change hands in Q3 deals

Audi, VW, Stellantis, Buick-GMC and Hyundai dealerships change hands in Q3 deals https://ift.tt/jdGDHkY

Audi, Volkswagen, Stellantis, Buick-GMC and Hyundai dealerships changed hands in separate third-quarter transactions across three states.

Carvana cuts 1,500 jobs on slowing used-car demand

Carvana cuts 1,500 jobs on slowing used-car demand https://ift.tt/lNERaCJ

Demand for used cars has been negatively impacted by hybrid-working models and higher costs caused by rising interest rates, as consumers rethink personal mobility options to try and trim their daily expenses.

GM projects $2,000 savings per vehicle from digital retailing, regional EV fulfillment

GM projects $2,000 savings per vehicle from digital retailing, regional EV fulfillment https://ift.tt/I9kvX4L

The inventory management change is designed to speed up vehicle delivery times — to as few as four days — and increase efficiency, which will reduce distribution costs.

St. Louis Mercedes-Benz dealership ordered to pay $1.8 million in workplace discrimination suit

St. Louis Mercedes-Benz dealership ordered to pay $1.8 million in workplace discrimination suit https://ift.tt/k2FLxmr

Two women were awarded $1.8 million Friday after claiming they faced discrimination while working at Mercedes-Benz of St. Louis in Missouri.

Reasons for optimism in the service department

Reasons for optimism in the service department https://ift.tt/CnoI5Ru

Business is still good. Repair orders and revenue are up. Most dealership service departments have all the work they can handle, and then some. But issues and challenges still loom.

3 Florida dealerships investigated over lease-end fees

3 Florida dealerships investigated over lease-end fees https://ift.tt/HVtN1lv

The Florida attorney general says other agencies, including federal, also may investigate after her office received 40 complaints about lease-end fees.

Used-car prices reaching a ‘cliff edge' is unlikely, J.D. Power expert says

Used-car prices reaching a ‘cliff edge' is unlikely, J.D. Power expert says https://ift.tt/th3WTf7

Used-vehicle prices are unlikely to crater in the coming months partly because of the strength of lingering new-vehicle demand, a J.D. Power expert said.

FTC targets bait-and-switch pricing

FTC targets bait-and-switch pricing https://ift.tt/KdjcBxl

An Federal Trade Commission proposal for regulating hidden and unexpected fees follows an earlier plan to do so within the auto retail industry. President Joe Biden highlighted "junk fees" in a speech Oct. 26.

Dealer anniversaries

Dealer anniversaries https://ift.tt/rI5QCtD

Dealers featured this week include Bill Oliverio, dealer principal of Oliverio Buick in McDonald, Pa.; Charles Maynard, general manager of Nucar Mazda in New Castle, Del.; Adam Silverleib, dealer principal of Silko Honda in Raynham, Mass.; Michael Seidle, dealer principal of Bill Seidle’s Mitsubishi in Doral, Fla.; Mark Bradshaw, dealer principal of Bradshaw Chevrolet-Buick in Cedar City, Utah; and Derek Sylvester, dealer principal of Sylvester Chevrolet in Peckville, Pa.

Safford purchase of 16 Brown dealerships biggest in 2022

Safford purchase of 16 Brown dealerships biggest in 2022 https://ift.tt/ryZKnVT

Safford Automotive more than doubled when it acquired Brown Automotive Group. It's the biggest acquisition tracked so far by this year in terms of the number of new-vehicle dealerships trading hands.

Two Pennsylvania Carvana locations suspended from performing title, registration actions

Two Pennsylvania Carvana locations suspended from performing title, registration actions https://ift.tt/bHIi6FG

Pennsylvania regulators have placed two Carvana locations on a list of business entities temporarily blocked from performing motor vehicle titling and registrations.

A digital shift: Dealer groups adjust as more customers turn to omnichannel sales

A digital shift: Dealer groups adjust as more customers turn to omnichannel sales https://ift.tt/uP4X3GN

The nation's public dealership groups say they saw continued digital sales growth in the third quarter, with some retailers selling thousands of vehicles through online sales platforms and others reporting at least half of their transactions involved some online activity.

Safford Automotive buys 16 Brown's Car stores in largest dealership acquisition of 2022

Safford Automotive buys 16 Brown's Car stores in largest dealership acquisition of 2022 https://ift.tt/GQl7fbM

Safford acquired 14 franchised dealerships, a used-vehicle store and a muscle and classic car store from Brown's.

Cox Automotive selling majority of Canadian unit to Trader Corp.

Cox Automotive selling majority of Canadian unit to Trader Corp. https://ift.tt/0Bnd5oX

Cox Automotive, which in 2021 transferred its Canadian operations to the U.S. and parted ways with its Canadian president, told customers Nov. 9 it is selling the majority of its Canadian division to Trader Corp.

Safford Automotive buys 16 Brown's Cars stores in largest dealership acquisition of 2022

Safford Automotive buys 16 Brown's Cars stores in largest dealership acquisition of 2022 https://ift.tt/tJ5EOQy

Safford acquired 14 franchised dealerships, a used-vehicle store and a muscle and classic car store from Brown's.

EV registrations in U.S. up 57% through September as Tesla rivals turn up pressure

EV registrations in U.S. up 57% through September as Tesla rivals turn up pressure https://ift.tt/UYIDdyv

Legacy automakers and non-Tesla startups saw a 71% surge in EV registrations through September. Tesla vehicles, meanwhile, rose 50 percent during the period, according to data from Experian Automotive.

Dealer Jimmy Ellis dies at 67

Dealer Jimmy Ellis dies at 67 https://ift.tt/1X0WY3l

Jimmy Ellis, CEO of Jim Ellis Automotive Group in Georgia, had run the family-owned company since 2015. He died Nov. 5.

EV registrations in U.S. rise 57% in September as Tesla rivals turn up pressure

EV registrations in U.S. rise 57% in September as Tesla rivals turn up pressure https://ift.tt/Gm2Th5H

Legacy automakers and non-Tesla startups saw a 71% surge in EV registrations through September. Tesla vehicles, meanwhile, rose 50 percent during the period, according to data from Experian Automotive.

Assurant's new EV One coverage includes guarantee of 70% battery charge health

Assurant's new EV One coverage includes guarantee of 70% battery charge health https://ift.tt/frwVF5Z

Assurant's new F&I EV One Protection plan also adds coverage for items like thermal management and regenerative braking systems.

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million https://ift.tt/R8QqIOx

Vehicle listings company TrueCar reported a loss of $77.1 million for the third quarter — a drop from a much slimmer loss in the same period a year ago .

Honda U.S. dealers could service Sony-Honda EVs, CFO says

Honda U.S. dealers could service Sony-Honda EVs, CFO says https://ift.tt/soMLTeB

The sales and servicing plan for Honda's EV partnership with Sony is still under discussion. But Honda's network of more than 1,000 U.S. dealers are well situated to service the new cars, the automaker's CFO said.

Fuccillo Automotive sells Chevy, Toyota and Hyundai dealerships

Fuccillo Automotive sells Chevy, Toyota and Hyundai dealerships https://ift.tt/DC2ekdo

Fuccillo Automotive Group in October sold Chevy, Toyota and Hyundai dealerships to Maguire Family of Dealerships.

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million

Stock price-induced impairment charge leads to TrueCar net loss of $77.1 million https://ift.tt/i1JacuG

Vehicle listings company TrueCar reported a loss of $77.1 million for the third quarter — a drop from a much slimmer loss in the same period a year ago .

N.H. woman accused of stealing $350,000 from Chevrolet dealership

N.H. woman accused of stealing $350,000 from Chevrolet dealership https://ift.tt/clgbxGu

Tina Fournier also allegedly used credit cards tied to Brooks Chevrolet and its successor, Noyes Chevrolet, without authorization.

Lucid sues Texas in attempt to overturn franchise laws

Lucid sues Texas in attempt to overturn franchise laws https://ift.tt/v0yERVq

EV startup calls state regulations "economic protectionism" in U.S. lawsuit.

Dealer outlook cools on acquisitions

Dealer outlook cools on acquisitions https://ift.tt/TSOowUL

Nearly half of dealers plan to buy one or more dealerships in the next 12 months, while only 2 percent expect to sell in that time frame, according to a survey by Kerrigan Advisors.

Guest commentary: Dealerships face uncertain times, but real estate endures

Guest commentary: Dealerships face uncertain times, but real estate endures https://ift.tt/fmN9IGz

Real estate remains the only constant in this mix of uncertainty, and many dealers are starting to take notice.

Land Rover dealer Larry Zinn builds loyalty with off-roading fun

Land Rover dealer Larry Zinn builds loyalty with off-roading fun https://ift.tt/53bFCLT

Each year, Miami land Rover dealer Larry Zinn's two stores hold an off-road driving event called Rover on The Rocks, where customers learn how to drive over rugged terrain using Rover's advanced electronic features.

Toyota borrows dealer-installed accessories strategy

Toyota borrows dealer-installed accessories strategy https://ift.tt/0oVcAZd

Toyota is ramping up partnerships with accessory manufacturers to give their products Toyota part numbers and allow accessories to be sold at the dealership and financed with the transaction. The strategy mirrors those done over the last decade by Jeep and Ford, among others.

Ford, Subaru and Volkswagen dealerships trade hands in Q3 deals

Ford, Subaru and Volkswagen dealerships trade hands in Q3 deals https://ift.tt/ML4qym6

Ford, Subaru and Volkswagen stores were acquired by dealership groups in separate third-quarter transactions.

Lucid Motors to launch base Air Pure sedan, starting at $89,050

Lucid Motors to launch base Air Pure sedan, starting at $89,050 https://ift.tt/QM7gDGw

The Nov. 15 launch of the Air Pure trim and the higher-level Air Touring will give Lucid entry models that better compete with starting prices for the Tesla Model S and Mercedes EQS

Carvana Q3 net loss widens to $508 million

Carvana Q3 net loss widens to $508 million https://ift.tt/tyohuQb

Carvana revenues fell 3 percent to $3.4 billion for the quarter. The retailer sold 102,570 cars and trucks in the third quarter, down 8 percent.

Cars.com swings to Q3 net loss, posts higher revenue

Cars.com swings to Q3 net loss, posts higher revenue https://ift.tt/IqnAv0J

The dealership technology company's dealership customer count grew to 19,585 as of Sept. 30, up 556 from a year earlier and up 68 from June 30.

Serra Automotive, Germain Automotive Partnership buy Lexus and Toyota dealerships

Serra Automotive, Germain Automotive Partnership buy Lexus and Toyota dealerships https://ift.tt/4QjJike

Two Lexus and two Toyota dealerships in Michigan now are owned by a pair of growing Midwest dealership groups.

TurboPass targets franchised car dealer market with PayStub Report

TurboPass targets franchised car dealer market with PayStub Report https://ift.tt/aDzSoQi

The new national PayStub Report product works similar to TurboPass's historic offering allowing customers to verify information to lenders and dealers using digital bank records.

Tesla closes its first showroom in China

Tesla closes its first showroom in China https://ift.tt/vA6glqD

EV maker Tesla has closed what had been its flagship showroom in China as the company adjusts its sales and service strategy in its second-largest market.