SPOTLIGHT: Jimmy Powell, fixed operations director at Horne Auto Group

SPOTLIGHT: Jimmy Powell, fixed operations director at Horne Auto Group https://ift.tt/QcG2aX1

Some insight on Jimmy Powell, fixed operations director at Horne Auto Group

Upstart: Layoffs won't significantly alter auto lending, digital retail businesses

Upstart: Layoffs won't significantly alter auto lending, digital retail businesses https://ift.tt/EwIlWrg

Though layoffs occurred within its auto businesses, Upstart doesn't expect its auto digital retail and underwriting operations to experience major impacts.

Congress reintroduces bill to stop surge of catalytic converter thefts

Congress reintroduces bill to stop surge of catalytic converter thefts https://ift.tt/yYvjQIF

The legislation aims to reduce catalytic converter thefts by requiring new vehicles to have the VIN stamped onto the converter, allowing law enforcement officers to link stolen parts to the originating vehicles.

NADA reinforced software industry's responsibility for many retailer processes

NADA reinforced software industry's responsibility for many retailer processes https://ift.tt/rove5sN

Amid the convention flash and dazzle, auto retail tech companies pledged to solve many systemic problems.

LIFO tax relief bill for dealers to be reintroduced in House

LIFO tax relief bill for dealers to be reintroduced in House https://ift.tt/aUEBckG

House sponsors plan to reintroduce the Supply Chain Disruptions Relief Act, which would give dealerships up to three years to replace their inventory before having to pay taxes on inventory sales from 2020 or 2021.

VW will not match Tesla price cuts for its EVs, CEO Blume says

VW will not match Tesla price cuts for its EVs, CEO Blume says https://ift.tt/IWBO98r

VW aims to become a global leader in EVs through profitable growth, not discounting, CEO Oliver Blume tolda German newspaper.

Ford follows Tesla price cuts by taking up to $5,900 off Mustang Mach-E

Ford follows Tesla price cuts by taking up to $5,900 off Mustang Mach-E https://ift.tt/j5as3Tm

The automaker said it plans to increase production of its electric crossover this year by 67 percent to cement its position as the No. 2 EV maker in the U.S.

Volvo reboots, revives subscription service in Calif.

Volvo reboots, revives subscription service in Calif. https://ift.tt/eBmvnpD

Revised California subscription service is similar to Volvo's program in New York: Customers can choose a vehicle from retailer stock and must secure their own insurance coverage.

Nissan warns dealers Ariya supplies will be tight in 2023

Nissan warns dealers Ariya supplies will be tight in 2023 https://ift.tt/4NWOvy7

Availability and affordability of the Ariya were on dealers' minds at the meeting Sunday, with many of the roughly 200 retailers in attendance wanting to know why they aren't receiving more units.

Mitsubishi dealers prepare for better supply, new trims

Mitsubishi dealers prepare for better supply, new trims https://ift.tt/Ff5LwWQ

Mitsubishi has told dealers they expect better supply amid strong sales. Retailers are excited about Outlander plug-in hybrid, return of the Ralliart subbrand and Outlander Sport off-road trim.

Fewer auto repairs could vex Honda dealers in '23

Fewer auto repairs could vex Honda dealers in '23 https://ift.tt/ya5MVgC

Honda dealers could face slower service after a year of low supply and depressed sales, according to Honda dealer advisory board chair.

VW plans to localize development, change marketing, dealers hear

VW plans to localize development, change marketing, dealers hear https://ift.tt/tVdSBpz

Volkswagen dealers welcomed plans by the brand's new North American management team to localize product development in North America and move away from its 'Drive Bigger' marketing theme.

Dealers say dealership turnover rate still too high

Dealers say dealership turnover rate still too high https://ift.tt/P5RZlum

Dealers, speaking at AutoTeam America's buy-sell summit in Dallas, said dealership turnover remains high and is a continued focus. Some dealers said turnover crept up last year for their groups.

Lincoln loosens EV charger requirement for dealers

Lincoln loosens EV charger requirement for dealers https://ift.tt/BzxDam9

The brand instead will require dealers to operate the stations largely just during business hours.

Warranty parity legislation spreads to Colorado

Warranty parity legislation spreads to Colorado https://ift.tt/HVjKc47

A bipartisan bill introduced Friday in Colorado would follow Illinois in mandating that manufacturers pay dealers retail labor rates for warranty repairs. Other state dealer associations are pursuing similar actions, advocates say.

Mazda: Bringing fun-to-drive spirit to EVs

Mazda: Bringing fun-to-drive spirit to EVs https://ift.tt/pREmPqA

Mazda National Dealer Advisory Council Chairman Rob Meyer on Mazda's approach to electrification, the impact of rising interest rates and how he's managed to fight through inventory shortages.

Nissan ‘determined' to keep vehicles at 30-45 days' supply

Nissan ‘determined' to keep vehicles at 30-45 days' supply https://ift.tt/AsjYqgw

Nissan has made progress on its supply issues, Nissan Americas Chairperson Jeremie Papin told the American Financial Services Association Vehicle Finance Conference.

Dealership sales could increase in next 3 years to meet publics' goals

Dealership sales could increase in next 3 years to meet publics' goals https://ift.tt/ciJOeuo

Haig Partners estimates dealership sales could increase over the next three years to meet some public auto retailers' annual revenue targets in 2025.

Van Tuyl on the hunt ‘in 13 states' for dealerships

Van Tuyl on the hunt ‘in 13 states' for dealerships https://ift.tt/fB4ecRW

Larry Van Tuyl pointed to the footprint of his former company, Van Tuyl Group, as to where he's looking for additional dealership acquisitions.

Higher interest rates could slow Group 1 acquisitions in '23

Higher interest rates could slow Group 1 acquisitions in '23 https://ift.tt/4mc0irt

While Group 1 Automotive will likely acquire more dealerships in 2023, CEO Daryl Kenningham says the transactions may not come at the same rate as over the previous 18 months.

Lincoln: 'Right place' on path to EVs

Lincoln: 'Right place' on path to EVs https://ift.tt/uWBeH0f

Lincoln National Dealer Council Chairman Chris Poulos says while the company could be more transparent with its retail network, but noted dealers are happy with its lineup.

2023 dealer profits: Only way is down

2023 dealer profits: Only way is down https://ift.tt/9UsIy4e

Thomas King, president of data analytics for J.D. Power, says dealer profitability will inevitably come down in 2023 from 'stratospheric' 2022 levels as supply increases.

Infiniti: Light on inventory, so focus on service

Infiniti: Light on inventory, so focus on service https://ift.tt/4kT8nKf

Without new products to lure buyers into showrooms, Infiniti dealers must focus on customer service, says Infiniti National Dealer Advisory Board Chairman Steve Lapin. "Service retention is what we live on."

Chevy dealers excited about new products coming in 2023

Chevy dealers excited about new products coming in 2023 https://ift.tt/DcarP2G

Chevrolet National Dealer Council Chairman Keith McCluskey says dealerships for the first time will be able to sell both gasoline and electric versions of the popular Equinox and Blazer crossovers and the Silverado pickup.

As auto shops struggle to get chips, broken cars sit waiting for months

As auto shops struggle to get chips, broken cars sit waiting for months https://ift.tt/DUiAvs2

When the transmission control module on Jordan Gray's 2017 Ford Focus gave up the ghost, he never dreamed he'd end up forfeiting the car altogether — and certainly not for want of a semiconductor chip.

Gray's sedan broke down in late 2021. He took it to Tom Holzer Ford in suburban Detroit, where he said they gave him two options: Buy an entire transmission system, or wait six to 10 months for the back-ordered TCM chip.

Because the part for his model year wasn't under recall or covered by warranty, he'd have to pay out of pocket.

What's more, the dealership was out of loaner vehicles and rentals to drive while he waited.

"I could not afford the new transmission they were suggesting I get, and in the end, had to have my car voluntarily repossessed because I wouldn't be able to afford two car payments," Gray said. "It wasn't making sense to pay on a non-working vehicle."

Gray isn't alone. As the chip shortage continues into 2023, auto service centers and their customers are suffering the same backlog that has made headlines largely for its impact on automakers — and dealers say it isn't over yet.

Lisa Kropp, of Lapeer, Mich., had a similar experience with a Ford Focus in need of a new TCM. She said she stayed on the waiting list at Milnes Ford in Lapeer, 60 miles North of Detroit, for two years before giving up last month, when she traded in the Focus for a Chrysler Pacifica minivan — and $1,000 — from Hank Graff Chevrolet, 60 miles North of Detroit in Davison.

"They are probably stuck with it looking for a chip now," she said.

Dealers on the chip shortage

Jerry Moore, the Grand Rapids, Mich., division director for Kentwood-based Fox Motor Group, said the chip shortage is still causing production delays, leading to lower sales inventory on Fox dealer lots.

"Our lots are empty. The appearance is, we look closed at times," he said.

Moore, whose dealerships sell new and used foreign and domestic brands, said some makes — especially Honda and Ford — are still plagued by the chip shortage, while other companies such as General Motors, Stellantis, Audi and Kia, are seeing the light at the end of the tunnel.

Moore said a lack of chips isn't the only problem dealers and garages are facing. Manufacturers are having a hard time sourcing all kinds of components, making for longer wait times for customers in line for repairs.

Jeff Daniel, service director at Maple Hill Auto Group in Kalamazoo, Mich., said sometimes the missing component isn't a chip for the car itself, but a chip for a machine that builds the car, or a chip for the semi-truck that delivers the car to the dealership lot.

"That's where the trickle down happens," he said. "It's not just your car. It's the fact that there may be a semi that needs a transmission component … so the trucking industry is affected, as well."

Max Muncey, senior manager of corporate communications at LaFontaine Automotive in Michigan, said Ford has been the slowest brand to recover from the chip shortage, in part due to the Focus transmission issue.

Last August, LaFontaine acquired Keller Ford in the Grand Rapids suburb of Walker and renamed it LaFontaine Ford of Grand Rapids. In the acquisition, LaFontaine inherited Keller's queue of Focuses under recall waiting for TCM chips — a nightmare LaFontaine's service director has referred to as an "intergalactic back order," according to Muncey.

Other than the Ford transmission issue, Muncey said most of the vehicles in need of chips are higher-end autos with luxury features, like heated seats and steering wheels, power running boards or rear camera systems.

Dave Wright, fixed operations director at Shaheen Chevrolet in Lansing, Mich., said the impact of the chip shortage at his dealership right now is mostly limited to the remote key fobs that unlock some Chevy models.

"Those have to be ordered by vehicle identification number now, so we get them from the manufacturer. Whereas in the past, we would stock those so you can (replace them) when you lose your keys — like a lot of kids do at Michigan State on game weekends," he said. "Now, it all has to be ordered, because there's such a restriction on that."

George Glassman, owner and president at Glassman Automotive Group in suburban Detroit, said he doesn't know a single vendor or dealer that hasn't in some way been affected by automotive supply chain issues.

His dealership has resorted to selling luxury vehicles without functioning heated seats and infotainment systems in need of a chip the manufacturer couldn't get within the expected timeframe, then having the buyer return in a month or two when it comes in.

How garages and customers are getting by

Dealers agree that patience and communication are key to getting through a tough season with an unknown expiration date, especially when it comes to repairs.

"One of the things we can't control are back-order parts — when they're going to be in and whether there are workarounds so that people can get on the road safely in this interim period, before they can get their car back," Glassman said. "… We've been fortunate we've got a pretty large loaner car fleet. But we're trying to be intelligent about the distribution of those cars."

Glassman said the uncertainty has put a strain on his employees.

"People have purchased their car with an expectation that if they have a problem, they'll bring it in, and in the normal course of business, history will tell them that over a reasonable period of time, the cars will get fixed. ... So when we run into some of these supply chain issues, naturally, if we're unable to get people into a car, that's when the anxiety can heighten," he said.

Muncey said the best thing LaFontaine did to keep its customers happy was increasing its loaner fleet last year.

Before the pandemic, he said most dealerships only carried brand-new loaners, which they would allow to be driven about 3,000 to 5,000 miles before moving them into their new vehicle inventory to be sold. But given the historic inventory shortage, that wasn't an option.

"We didn't have new cars available to put into a loaner fleet," he said. "We went out and bought hundreds of additional pre-owned vehicles to serve our guests' needs in that regard."

Fox Motors did the same thing.

"We've adapted quite a bit at multiple stores, using pre-owned vehicles when needed and putting those in our service loaner fleets," he said.

Daniel, at Maple Hill in Kalamazoo, said it's generally been a terrible time for the sales side of the dealership business, but identified one silver lining of the inventory shortage: With the average age of vehicles on the road rising to about 12.2 years, more people need parts and service, boosting business in the garage.

"Our parts business grew substantially this year, (and) our service business grew substantially this year," he said, although he didn't share specific numbers.

Wright, at Shaheen Chevrolet in Lansing, echoed that experience, but said the spike in business also means a shortage of technicians to work on vehicles.

"There's more demand, and there's not enough people to fix the cars," he said.

What this perfect storm means for customers, Wright said, is being forced to adapt to life without a car by carpooling, taking the bus, or using another means of transit. For the most part, Shaheen Chevrolet's customers — many of whom are either GM employees or related to one — have been an understanding bunch.

"People seemingly are figuring it out," Wright said. "It's just kind of like going back in time, before there were loaner cars and before everybody had the multiple vehicles and whatnot. You kind of had to figure it out."

Moore, at Fox Motors, said he doesn't have a crystal ball, but feels "some positivity" heading into this year that the component shortages will ease up.

"We are way better than we were six months ago," he said. "...We feel that 2023 will potentially have a better inventory supply."

Muncey, at LaFontaine, agreed.

"We still are seeing delays," he said. "But I would say, overall, we're in a much, much better position today than we were six months ago in terms of overall inventory, as well as moving customers that have been waiting for their chip."

As auto shops struggle to get chips, broken cars sit waiting for months

As auto shops struggle to get chips, broken cars sit waiting for months https://ift.tt/BF5LTV9

When the transmission control module on Jordan Gray's 2017 Ford Focus gave up the ghost, he never dreamed he'd end up forfeiting the car altogether — and certainly not for want of a semiconductor chip.

Gray's sedan broke down in late 2021. He took it to Tom Holzer Ford in Farmington Hills, Michigan, about 20 miles Northwest of Detroit, where he said they gave him two options: Buy an entire transmission system, or wait six to 10 months for the back-ordered chip.

Because the part for his model year wasn't under recall or covered by warranty, he'd have to pay out of pocket.

What's more, the dealership was out of loaner vehicles and rentals to drive while he waited.

"I could not afford the new transmission they were suggesting I get, and in the end, had to have my car voluntarily repossessed because I wouldn't be able to afford two car payments," Gray said. "It wasn't making sense to pay on a non-working vehicle."

Gray isn't alone. As the chip shortage continues into 2023, auto service centers and their customers are suffering the same backlog that has made headlines largely for its impact on automakers — and dealers across Michigan say it isn't over yet.

Lisa Kropp, of Lapeer, had a similar experience with a Ford Focus in need of a new TCM. She said she stayed on the waiting list at Milnes Ford in Lapeer, 60 miles North of Detroit, for two years before giving up last month, when she traded in the Focus for a Chrysler Pacifica minivan — and $1,000 — from Hank Graff Chevrolet, 60 miles North of Detroit in Davison.

"They are probably stuck with it looking for a chip now," she said.

Dealers on the chip shortage

Jerry Moore, the Grand Rapids division director for Kentwood-based Fox Motor Group, said the chip shortage is still causing production delays, leading to lower sales inventory on Fox dealer lots.

"Our lots are empty. The appearance is, we look closed at times," he said.

Moore, whose dealerships sell new and used foreign and domestic brands, said some makes — especially Honda and Ford — are still plagued by the chip shortage, while other companies like General Motors, Stellantis, Audi and Kia, are seeing the light at the end of the tunnel.

Moore said a lack of chips isn't the only problem dealers and garages are facing. Manufacturers are having a hard time sourcing all kinds of components, making for longer wait times for customers in line for repairs.

Jeff Daniel, service director at Maple Hill Auto Group in Kalamazoo, two hours West of Detroit, said sometimes the missing component isn't a chip for the car itself, but a chip for a machine that builds the car, or a chip for the semi-truck that delivers the car to the dealership lot.

"That's where the trickle down happens," he said. "It's not just your car. It's the fact that there may be a semi that needs a transmission component … so the trucking industry is affected, as well."

Max Muncey, senior manager of corporate communications at Highland Township-based LaFontaine Automotive, said Ford has been the slowest brand to recover from the chip shortage, in part due to the Focus transmission issue.

Last August, LaFontaine acquired Keller Ford in the Grand Rapids suburb of Walker and renamed it LaFontaine Ford of Grand Rapids. In the acquisition, LaFontaine inherited Keller's queue of Focuses under recall waiting for TCM chips — a nightmare LaFontaine's service director has referred to as an "intergalactic back order," according to Muncey.

Other than the Ford transmission issue, Muncey said most of the vehicles in need of chips are higher-end autos with luxury features, like heated seats and steering wheels, power running boards or rear camera systems.

Dave Wright, fixed operations director at Shaheen Chevrolet in Lansing, said the impact of the chip shortage at his dealership right now is mostly limited to the remote key fobs that unlock some Chevy models.

"Those have to be ordered by vehicle identification number now, so we get them from the manufacturer. Whereas in the past, we would stock those so you can (replace them) when you lose your keys — like a lot of kids do at Michigan State on game weekends," he said. "Now, it all has to be ordered, because there's such a restriction on that."

George Glassman, owner and president at Southfield-based Glassman Automotive Group, said he doesn't know a single vendor or dealer that hasn't in some way been affected by automotive supply chain issues.

His dealership has resorted to selling luxury vehicles without functioning heated seats and infotainment systems in need of a chip the manufacturer couldn't get within the expected timeframe, then having the buyer return in a month or two when it comes in.

How garages and customers are getting by

Dealers agree that patience and communication are key to getting through a tough season with an unknown expiration date, especially when it comes to repairs.

"One of the things we can't control are back-order parts — when they're going to be in and whether there are workarounds so that people can get on the road safely in this interim period, before they can get their car back," Glassman said. "… We've been fortunate we've got a pretty large loaner car fleet. But we're trying to be intelligent about the distribution of those cars."

Glassman said the uncertainty has put a strain on his employees.

"People have purchased their car with an expectation that if they have a problem, they'll bring it in, and in the normal course of business, history will tell them that over a reasonable period of time, the cars will get fixed. ... So when we run into some of these supply chain issues, naturally, if we're unable to get people into a car, that's when the anxiety can heighten," he said.

Muncey said the best thing LaFontaine did to keep its customers happy was increasing its loaner fleet last year.

Before the pandemic, he said most dealerships only carried brand-new loaners, which they would allow to be driven about 3,000 to 5,000 miles before moving them into their new vehicle inventory to be sold. But given the historic inventory shortage, that wasn't an option.

"We didn't have new cars available to put into a loaner fleet," he said. "We went out and bought hundreds of additional pre-owned vehicles to serve our guests' needs in that regard."

Fox Motors did the same thing.

"We've adapted quite a bit at multiple stores, using pre-owned vehicles when needed and putting those in our service loaner fleets," he said.

Daniel, at Maple Hill in Kalamazoo, said it's generally been a terrible time for the sales side of the dealership business, but identified one silver lining of the inventory shortage: With the average age of vehicles on the road rising to about 12.2 years, more people need parts and service, boosting business in the garage.

"Our parts business grew substantially this year, (and) our service business grew substantially this year," he said, although he didn't share specific numbers.

Wright, at Shaheen Chevrolet in Lansing, echoed that experience, but said the spike in business also means a shortage of technicians to work on vehicles.

"There's more demand, and there's not enough people to fix the cars," he said.

What this perfect storm means for customers, Wright said, is being forced to adapt to life without a car by carpooling, taking the bus, or using another means of transit. For the most part, Shaheen Chevrolet's customers — many of whom are either GM employees or related to one — have been an understanding bunch.

"People seemingly are figuring it out," Wright said. "It's just kind of like going back in time, before there were loaner cars and before everybody had the multiple vehicles and whatnot. You kind of had to figure it out."

Moore, at Fox Motors, said he doesn't have a crystal ball, but feels "some positivity" heading into this year that the component shortages will ease up.

"We are way better than we were six months ago," he said. "...We feel that 2023 will potentially have a better inventory supply."

Muncey, at LaFontaine, agreed.

"We still are seeing delays," he said. "But I would say, overall, we're in a much, much better position today than we were six months ago in terms of overall inventory, as well as moving customers that have been waiting for their chip."

Ford boosts financial support to dealers for remote service offerings

Ford boosts financial support to dealers for remote service offerings https://ift.tt/J8rl5oG

The automaker is expanding its mobile service vans as well as pickup and delivery capabilities across its dealer network.

Tennessee dealership finance manager charged with theft

Tennessee dealership finance manager charged with theft https://ift.tt/dxMpPas

A finance manager at Chuck Hutton Chevrolet in Memphis, Tenn., has been accused of pocketing cash payments from customers.

#1 Cochran Automotive buys first dealerships outside of Pa., acquires first Honda store

#1 Cochran Automotive buys first dealerships outside of Pa., acquires first Honda store https://ift.tt/aHmIq2u

Growing #1 Cochran Automotive entered a new state and added a new brand to its portfolio through two separate transactions.

Technician accuses Honda store of age discrimination, retaliation

Technician accuses Honda store of age discrimination, retaliation https://ift.tt/xN9pO76

The lawsuit alleges the new owners of North Hollywood Honda terminated or forced the resignation of about a dozen of its 16 to 20 technicians, most of them over 40, after it acquired the store last June.

Carvana settles long-running regulatory dispute with Illinois

Carvana settles long-running regulatory dispute with Illinois https://ift.tt/iaNL6Mu

The state twice suspended the online used-vehicle retailer's license over motor vehicle registrations and titling issues.

N.Y. dealer sues Stellantis for diverting inventory, giving rivals ‘secret discounts'

N.Y. dealer sues Stellantis for diverting inventory, giving rivals ‘secret discounts' https://ift.tt/nL4CsP1

The lawsuit claims Stellantis is trying to starve the store of inventory in retaliation for a previous legal victory.

AN's new retail tech reporter is watching how industries react to innovation efforts

AN's new retail tech reporter is watching how industries react to innovation efforts https://ift.tt/VYhH2rQ

The new retail technology reporter for will be looking for innovation stories at the NADA Show 2023 in Dallas.

8 brands struggle with U.S. conquest retention, study shows

8 brands struggle with U.S. conquest retention, study shows https://ift.tt/5sKTnhR

Dodge, Ram, Audi, Mazda, GMC, Volkswagen, Acura and Mercedes-Benz are all in the heat of a "nomad retention challenge" in the U.S., a new report from S&P Global says.

Vehlo buys Rapid Recon and Velocity Automotive

Vehlo buys Rapid Recon and Velocity Automotive https://ift.tt/CmTUvXP

The acquisitions by Vehlo now extends its dealership fixed ops customer experience suite beyond the customer-pay side of dealer service operations.

Reynolds on long-term path to shed inflexible image

Reynolds on long-term path to shed inflexible image https://ift.tt/9S8hcZI

Dealership technology giant Reynolds & Reynolds will unveil an updated logo and a demonstrate a more flexible attitude at the NADA Show this week.

Mandal: Buick, GMC consider franchised dealers an advantage

Mandal: Buick, GMC consider franchised dealers an advantage https://ift.tt/HZRK5Ge

Bo Mandal, chairman of the Buick-GMC National Dealer Council, said GM's plans for subscription services that can be enabled after a vehicle purchase are still in development.

Leo Michael cartoon: Floorplan costs

Leo Michael cartoon: Floorplan costs https://ift.tt/Xxvr2Qn

For dealers, having unsold inventory brings additional carrying costs with added floorplan expense. But it also means a return to a more traditional form of automotive retail.

Automotive News hires dealers, retail technology reporter

Automotive News hires dealers, retail technology reporter https://ift.tt/zsVXdxn

Mark Hollmer most recently wrote about insurance and mortgage industry technology for Insurance Business America and Mortgage Professional America.

NADA Show 2023: Dive into our comprehensive coverage

NADA Show 2023: Dive into our comprehensive coverage https://ift.tt/2donsC0

Automotive News has more ways than ever to follow the NADA Show in Dallas.

Lucid faces price pressure from Tesla, slowing economy

Lucid faces price pressure from Tesla, slowing economy https://ift.tt/FYsLQHJ

Lucid Motors is rolling out a less expensive trim of its Air sedan and removing content from higher trims to reduce prices.

Tesla price cuts ignite a surge in shopping

Tesla price cuts ignite a surge in shopping https://ift.tt/k2ZIoR0

Tesla price reductions for the bestselling EV in America, the Model Y, represent a discount of $13,000 off the sticker price in addition to eligibility for the new tax incentive of up to $7,500. Shoppers are responding.

Infiniti, Toyota, Ford and GM dealerships sell across 4 states

Infiniti, Toyota, Ford and GM dealerships sell across 4 states https://ift.tt/BuqtCMe

Infiniti, Toyota, Ford and Chevy-Buick-GMC dealerships sell in deals across four states.

Upstart: National rollout of AI auto loans to start in Q2

Upstart: National rollout of AI auto loans to start in Q2 https://ift.tt/CWhSFNv

Upstart Auto Retail digital auto sales platform also will begin to offer dealership customers the ability to buy cars completely online.

VW sues in Illinois to block extra dealer warranty reimbursements

VW sues in Illinois to block extra dealer warranty reimbursements https://ift.tt/1AL9gqX

Volkswagen Group of America called a year-old provision of Illinois' franchise laws unconstitutional for making automakers pay consumer rates for dealer warranty work.

VW to promote Hein Schafer, Rachael Zaluzec into sales, marketing roles

VW to promote Hein Schafer, Rachael Zaluzec into sales, marketing roles https://ift.tt/nHL9TI4

Former American Honda veteran Ray Mikiciuk, who joined VW in October 2020, has departed.

Illinois dealers appeal direct-to-consumer EV sales ruling

Illinois dealers appeal direct-to-consumer EV sales ruling https://ift.tt/zur6BIl

A December court ruling allowed Rivian and Lucid to continue direct EV sales in the state.

SPOTLIGHT: Lisa McIntyre, CEO of the Greater Pittsburgh Automobile Dealers Association

SPOTLIGHT: Lisa McIntyre, CEO of the Greater Pittsburgh Automobile Dealers Association https://ift.tt/SiKsaDh

Some insight on Lisa McIntyre, CEO of the Greater Pittsburgh Automobile Dealers Association.

Carvana adopts shareholder rights plan

Carvana adopts shareholder rights plan https://ift.tt/B2T9mDn

Carvana said it has adopted a "poison pill" to limit shareholders from increasing stake, making it difficult for the used car retailer to use its net operating loss (NOL) carryforwards to reduce tax.

On new EV tax credits, car dealers ‘don't have the answers'

On new EV tax credits, car dealers ‘don't have the answers' https://ift.tt/pDiyl7S

With new restrictions on sticker price and buyer income taking effect this month, several dealers told Automotive News that more guidance is needed from the federal government and automakers to accurately and confidently assess vehicle and consumer eligibility.

Dealers, keep up fight against direct sales

Dealers, keep up fight against direct sales https://ift.tt/FC97Ihj

Franchised dealers need to fight the myth that direct sellers are providing what consumers want, writes an Automotive News reader in a letter to the editor.

Dealer anniversaries

Dealer anniversaries https://ift.tt/gNwr85S

Dealers featured this week include Tommy Alexander, vice president of Alexander Ford in Boaz, Ala.; and James Boyle, owner of Tuck’s Trucks, a GMC dealership in Hudson, Mass.

84-month auto loans gain in popularity

84-month auto loans gain in popularity https://ift.tt/WTPCEUY

By the third quarter of 2022, 19 percent of new-vehicle debt and 11 percent of used-vehicle loans ran seven years, according to Experian.

Carvana laying off more workers amid weak used car sales

Carvana laying off more workers amid weak used car sales https://ift.tt/YBe5D2X

Carvana will lay off more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, reported on Friday.

West Herr Automotive Group buys 4 New York dealerships

West Herr Automotive Group buys 4 New York dealerships https://ift.tt/sXCKh2Y

West Herr Automotive's acquisition of four dealerships near Buffalo includes Audi, Volkswagen and Mini as first-time brands for the group.

Ford says 59% of U.S. Lincoln dealers sign up to sell EVs

Ford says 59% of U.S. Lincoln dealers sign up to sell EVs https://ift.tt/pyZfctQ

The 356 dealers who enrolled in the program represent 88 percent of Lincoln's U.S. sales volume, the brand said.

Lincoln, GM and Ford dealerships sell in deals across 4 states

Lincoln, GM and Ford dealerships sell in deals across 4 states https://ift.tt/I14WF6N

Lincoln, Cadillac-Buick-GMC, Chevy and Ford dealerships traded hands in Q4 and Q1 transactions in four states.

Inventory crisis dragged U.S. auto sales to a decade low in 2022

Inventory crisis dragged U.S. auto sales to a decade low in 2022 https://ift.tt/uUTgc9s

Rising inventory numbers bode well for U.S. sales in 2023. But now the economy is worrisome and prices are too high.

Ark. dealer sues VW of America, says VW store 20 miles away infringes on turf

Ark. dealer sues VW of America, says VW store 20 miles away infringes on turf https://ift.tt/gyI6o3m

Crain Volkswagen of Fayetteville says the establishment of Everett Volkswagen in Rogers encroaches upon its territory and is a violation of its franchise agreement.

Michigan Carvana store agrees to surrender dealer license; online sales can continue

Michigan Carvana store agrees to surrender dealer license; online sales can continue https://ift.tt/rgKzEBR

The Michigan Carvana outlet will surrender its license in lieu of state regulators taking further administrative action. Carvana can keep delivering vehicles purchased through its website to Michigan residents at its Michigan locations.

Point Predictive tool automates car loan pricing, fraud protection

Point Predictive tool automates car loan pricing, fraud protection https://ift.tt/4gWVQPF

AutoPass system allows lenders to adjust interest rates and give denied customers another chance.

Walser offers 'road map' for women in auto retail

Walser offers 'road map' for women in auto retail https://ift.tt/k3BWvt4

For the past six years, NADA has organized a 'Women Driving Auto Retail' video contest. Walser Automotive Group's entry takes a unique approach.

Ahead of NADA Show, focus on new and emerging technologies

Ahead of NADA Show, focus on new and emerging technologies https://ift.tt/JUhlD4K

The first 10 days of 2023 are in the rearview mirror. As we get further into the year – and closer to another NADA Show, no less – I find myself reflecting on how the wholesale auction landscape continues its streak of transformation.

Much like the larger automotive industry, that landscape is no stranger to digitization trends. Such evolution already occurred in the 2000s and 2010s when the Internet became more widely accessible, more businesses began experimenting with e-commerce and consumers and dealers alike flocked to online spaces.

The onset of the coronavirus pandemic in March 2020 necessitated that transformation be turned up to 11. Now, nearly three years later, automakers, suppliers, remarketers and dealers are attempting to keep in stride with consumers' demands, which have shifted in favor of accessible online retail technologies.

"Today, most of our clients continue to prefer digital channels to conduct business, as evidenced by roughly 70 to 75 percent of all the vehicle purchases being made by digital buyers," Grace Huang, president of inventory solutions at Cox Automotive, said this week. Huang oversees wholesale auction giant Manheim.

Manheim is preparing for dealers to grow even more comfortable doing business digitally, Huang noted in a Manheim insights call ahead of the NADA Show in Dallas. The auction network will showcase at the dealer convention its endeavors around vehicle imaging using artificial intelligence and diagnostic tools that better indicate the health of an electric vehicle's battery.

Readers, what digital tools or processes will you look for in 2023 at the NADA Show and beyond to transform or make more efficient the way consumers and dealers buy and sell cars? Let me know by sending me an email at cj.moore@crain.com. Or reach out to meet me on the show floor.

Wholesale used-vehicle prices rise slightly in December, but more declines possible

Wholesale used-vehicle prices rise slightly in December, but more declines possible https://ift.tt/8LWvxY3

Wholesale used-vehicle prices ticked up in December to cap off a year in which there were several consecutive monthly declines.

Wholesale used-vehicle prices rise slightly in December, but more declines possible

Wholesale used-vehicle prices rise slightly in December, but more declines possible https://ift.tt/pDormGO

Wholesale used-vehicle prices ticked up in December to cap off a year in which there were several consecutive monthly declines.

Six N.J. dealerships settle to resolve allegations of consumer protection violations

Six N.J. dealerships settle to resolve allegations of consumer protection violations https://ift.tt/mFDhs3r

Six settlements were reached with dealerships in New Jersey to resolve allegations of consumer protection violations in fall 2022. The settlements ranged from $8,000 to $180,000, with the combined settlements totaling over $260,000.

Device from service team takes fight to thieves

Device from service team takes fight to thieves https://ift.tt/DtITh3M

The St. Louis dealerships charge $200 to install an anti-theft device, which aims to stop thieves from using tactics that have spread widely through social media videos, and sell it online for $99 plus shipping.

’22 sales shakeout

’22 sales shakeout https://ift.tt/jSMvWtq

Another year defined by supply chain challenges turned out to be a mixed bad for U.S. automakers.

After '22 low sales, '23 rebound uncertain

After '22 low sales, '23 rebound uncertain https://ift.tt/sbydz38

Forecasters expect modest growth in 2023 as economic headwinds like rising interest rates and sky-high transaction prices freeze some buyers out of the market.

Illinois dealers to continue legal fight against direct sales by Rivian, Lucid

Illinois dealers to continue legal fight against direct sales by Rivian, Lucid https://ift.tt/1IRk4L7

Illinois Automobile Dealers Association chief Joe McMahon told that dealers will appeal a court decision that favors the EV makers.

Will new Congress revive LIFO relief bill for dealers?

Will new Congress revive LIFO relief bill for dealers? https://ift.tt/qRpZsUk

While an end-of-year attempt to pass legislation on LIFO tax relief ultimately stalled in the House, dealers affected by record-low levels of new-vehicle supply are still hopeful a bill will pass this year.

Illinois dealers lose lawsuit to halt Rivian, Lucid direct sales

Illinois dealers lose lawsuit to halt Rivian, Lucid direct sales https://ift.tt/ZMV04dk

A judge ruled that officials were correct in granting dealer licenses to the EV makers despite objections from the Illinois Automobile Dealers Association, which argued that direct sales by the startups should be halted.

TOYOTA: Dec. deliveries advance but end 2022 off 9.6%

TOYOTA: Dec. deliveries advance but end 2022 off 9.6% https://ift.tt/MyiOZ31

Toyota Motor North America finished the year on a positive note in December, with sales up 3.5 percent. But ongoing supply and production constraints left the Japanese automaker's U.S. sales down 9.6 percent for the year.

Fiat unveils metaverse car shopping service

Fiat unveils metaverse car shopping service https://ift.tt/dIiDlCA

Fiat is looking to roll out the metaverse showroom in France, Germany and the United Kingdom in early 2023.

GM: Q4 U.S. sales rise 41% as supply improves

GM: Q4 U.S. sales rise 41% as supply improves https://ift.tt/QwVX1KW

All of GM's brands except Buick posted fourth-quarter sales gains, led by Cadillac.

NISSAN: Sales stumble 25% in 2022, largely on chip shortages

NISSAN: Sales stumble 25% in 2022, largely on chip shortages https://ift.tt/Ll9ZzXv

Half of the buyers of the just-launched Ariya EV are new to the brand, with the majority trading in luxury vehicles.

TOYOTA: Deliveries rise 3.5% in December but finish 2022 down 9.6%

TOYOTA: Deliveries rise 3.5% in December but finish 2022 down 9.6% https://ift.tt/cMBCJ6h

Toyota Motor North America finished the year on a positive note in December, with sales up 3.5 percent. But ongoing supply and production constraints left the Japanese automaker's U.S. sales down 9.6 percent for the year.

APCO Holdings buys F&I competitor National Auto Care

APCO Holdings buys F&I competitor National Auto Care https://ift.tt/DkNZOgj

Tony Wanderon, who led National Auto Care, is CEO of the newly combined finance and insurance company APCO Holdings.

Trends to watch in 2023

Trends to watch in 2023 https://ift.tt/05mAd4P

From the evolution of digital retailing to a focus on data security, here's what's on the horizon for auto retail this year.

FTC extends comment period on plan for broad ‘junk fee' regs

FTC extends comment period on plan for broad ‘junk fee' regs https://ift.tt/UAygWPq

The Federal Trade Commission gave businesses and consumers until Feb. 8 to comment on its October concept for regulating bait-and-switch advertising and fees for worthless items.

Tesla Q4: Record deliveries but the 405,278 cars delivered misses the target

Tesla Q4: Record deliveries but the 405,278 cars delivered misses the target https://ift.tt/8YaMwh3

Tesla delivered 405,278 cars worldwide in the fourth quarter, eking out a record despite rising interest rates, inflation and crimped production in China.

Ford, GM and Ram primed for EV pickup battle

Ford, GM and Ram primed for EV pickup battle https://ift.tt/XxMvnGY

Ford was the first of the Detroit 3 to go to market with an electric pickup, the F-150 Lightning, but GM and Ram aren't far behind.

Former NFL standout finds parallels between football, auto retailing

Former NFL standout finds parallels between football, auto retailing https://ift.tt/agi2oWu

Former Baltimore Ravens linebacker Peter Boulware bought his second store, in South Carolina, in 2021.