EV transition slows as inventory grows and industry hits hurdles

EV transition slows as inventory grows and industry hits hurdles https://ift.tt/6ZkIUSW

But there is a disconnect: EV fluctuations today won't determine long-term trends, analysts say.

Toyota's global sales, output climb to record

Toyota's global sales, output climb to record https://ift.tt/DdImHMl

Toyota is on track for another year of strong gains thanks to robust demand and improving supply conditions.

Column: Best dealerships offer employee perks, growth opportunities

Column: Best dealerships offer employee perks, growth opportunities https://ift.tt/AZxVzMC

Many of the top dealerships across the country offer employee benefits and perks such as paid parental leave, four-day workweeks, stock investment opportunities, career development, paid training and more.

Guest commentary: Evolving your fraud strategy as car shopping shifts online

Guest commentary: Evolving your fraud strategy as car shopping shifts online https://ift.tt/vaN5Ddw

As fraudsters become more sophisticated and opportunistic, dealers and lenders need to pivot away from standard risk mitigation strategies and implement a multilayered approach.

Minn. group's ads take on dealership ‘horror stories'

Minn. group's ads take on dealership ‘horror stories' https://ift.tt/eOdRuUZ

A new campaign for Apple Autos in Minnesota features customers bragging to friends and family that they "didn't get screwed" while buying a new vehicle.

Staff-friendly time off among Bergstrom Automotive's employee support

Staff-friendly time off among Bergstrom Automotive's employee support https://ift.tt/1uXsbrg

Bergstrom Automotive CEO Tim Bergstrom shared examples of how his Wisconsin-based dealership group has supported employee well-being during a keynote session at the Automotive News Retail Forum: Chicago.

The affordability crisis is here to stay, panelists say

The affordability crisis is here to stay, panelists say https://ift.tt/IZN34uS

Industry experts talked interest rates, customer attitudes and financing in a panel on affordability at Automotive News Retail Forum: Chicago on Thursday.

Experts share best practices for dealerships' use of AI

Experts share best practices for dealerships' use of AI https://ift.tt/lJifxAy

Two panels of experts explained how dealerships can use AI for maximum benefit. One key: Remember it takes time to teach both the technology and employees alike.

Dealerships owned by late trio trade hands in Tennessee

Dealerships owned by late trio trade hands in Tennessee https://ift.tt/PTYr90F

Heirs from the late partners' estates worked together to complete the third-quarter transactions.

Spotlight: Wendy Reeves, founder of BDC Angels

Spotlight: Wendy Reeves, founder of BDC Angels https://ift.tt/hdxMgaq

Get to know Wendy Reeves, founder of BDC Angels.

Former Assurant trainer explains dealer F&I ‘reinsurance' revenue stream

Former Assurant trainer explains dealer F&I ‘reinsurance' revenue stream https://ift.tt/r0t7exU

Car protection product ‘reinsurance' programs are a helpful revenue stream for dealers, according to Ritch Wheeler, president of Eagle Training Academy and a former longtime Assurant trainer.

Guest commentary: Why dealerships should view almost everyone as a possible EV customer

Guest commentary: Why dealerships should view almost everyone as a possible EV customer https://ift.tt/iOLwkvt

As EVs become mainstream, dealership staff must remember that customers stepping onto the lot may have never even considered an EV — but might after a test drive.

Lamborghini combats softening market with sold-out models, long wait times

Lamborghini combats softening market with sold-out models, long wait times https://ift.tt/3FTatuA

The exotic and ultraluxury market is softening compared with last year, according to Automobili Lamborghini America's CEO. But the Italian brand is being aided by sold-out models and long wait times.

Penske's Shelley Hulgrave, Bergstrom Automotive's Tim Bergstrom to speak at Automotive News Retail Forum

Penske's Shelley Hulgrave, Bergstrom Automotive's Tim Bergstrom to speak at Automotive News Retail Forum https://ift.tt/dcIljqf

Topics to be discussed include uses of AI within automotive retail, dealership consolidation trends, vehicle affordability and more.

Deliveries at VW Group dip 0.9% in Sept.

Deliveries at VW Group dip 0.9% in Sept. https://ift.tt/5ULuSA1

Volkswagen Group’s China sales appear to be stabilizing, with September volume inching down 0.9 percent year on year to 298,800.

Spotlight: Arnold Gacita, founder of Petra Automotive Products

Spotlight: Arnold Gacita, founder of Petra Automotive Products https://ift.tt/0JlVewi

Get to know Arnold Gacita, founder of Petra Automotive Products

Md. auto group fired adviser after motorcycle accident, EEOC lawsuit alleges

Md. auto group fired adviser after motorcycle accident, EEOC lawsuit alleges https://ift.tt/xhpqH6S

The Equal Employment Opportunity Commission has filed a disability discrimination suit against Len Stoler Auto Group on behalf of a former service adviser who was demoted to cashier and later fired after a medical leave.

Mass. dealerships appeal in Volvo labor rate suit

Mass. dealerships appeal in Volvo labor rate suit https://ift.tt/JW3FRD0

Two Massachusetts Volvo dealerships have asked the U.S. First Circuit Court of Appeals to overturn a judge's August finding that state law didn't guarantee retail labor rates for work covered by the Volvo-branded Prepaid Maintenance Plan.

Ferrari to accept crypto as payment for its cars in the U.S.

Ferrari to accept crypto as payment for its cars in the U.S. https://ift.tt/5l2ZXtS

Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.

Editorial: Use right of first refusal with caution

Editorial: Use right of first refusal with caution https://ift.tt/g9rnDOy

It's an automaker's right to choose their business partners — including franchisees — but they need to be diplomatic and communicate clearly with dealers when exercising the right of first refusal on a planned sale.

Where will F&I fall in digital retail shakeout?

Where will F&I fall in digital retail shakeout? https://ift.tt/Ep7F0hs

Protective Asset Protection surveyed over 300 dealership executives and found 53 percent were unsure if F&I products should be for sale online.

3 years after going public, Shift is bankrupt

3 years after going public, Shift is bankrupt https://ift.tt/JwPbnBG

Challenges that arose in the used-car market in the last two years played a major role in Shift Technologies' descent into severe financial distress.

Entire Utah football team gets Ram trucks

Entire Utah football team gets Ram trucks https://ift.tt/vbExNgy

The Ram 1500 Big Horns are being leased through Ken Garff Automotive Group in one of the largest NIL deals in college sports.

Subaru store offers a different type of loaner ride

Subaru store offers a different type of loaner ride https://ift.tt/YNEfw04

One Washington state Subaru dealership offers customers different forms of entertainment while in for service appointments.

AutoFi: F&I transparency doesn't impact penetration

AutoFi: F&I transparency doesn't impact penetration https://ift.tt/HvD5dMo

Consumers engaging with a car protection product option on a dealership's website bought the same number of items as customers who followed a more typical car-buying process, AutoFi found in a study conducted earlier in 2023.

Negligence suit against Ohio dealer can't proceed, appeals court rules

Negligence suit against Ohio dealer can't proceed, appeals court rules https://ift.tt/a6Qms9p

A woman who twisted her foot and fell in an Ohio dealership's lot when the store was closed can't pursue a negligence suit, the state 4th District Court of Appeals ruled.

Tesla's EV share falls to 58% as Model 3 growth cools and Model X and Model S turn red

Tesla's EV share falls to 58% as Model 3 growth cools and Model X and Model S turn red https://ift.tt/Quvk7Yh

The automaker's January to August EV share fell to 58% from 65.1% a year earlier, Experian data shows. Tesla blamed factory downtime for global third-quarter sales that came in lower than the preceding quarter.

GM’s China sales slide 14% in Q3

GM’s China sales slide 14% in Q3 https://ift.tt/tiAcGnY

Economic growth has also slowed across the country behind subdued consumer activity and troubled real estate markets.

Exports, EVs drive rise in Sept. light-vehicle shipments

Exports, EVs drive rise in Sept. light-vehicle shipments https://ift.tt/YzQnSPy

Automakers producing in China shipped 2.49 million sedans, crossovers, SUVs, multi-purpose vehicles and minibuses last month, an increase of 6.6 percent from a year earlier, the China Association of Automobile Manufacturers said.

Santander exclusive auto finance partner for new maker Ineos

Santander exclusive auto finance partner for new maker Ineos https://ift.tt/HJLcqw2

Ineos Automotive has tapped Santander Consumer USA as the exclusive private-label provider behind the Ineos Automotive Finance brand, which will offer both car loans and leases for the Grenadier SUV.

Genesis EVs become available in 10 more states

Genesis EVs become available in 10 more states https://ift.tt/E8IR6CD

Genesis said it has sold 6,163 EVs in the U.S. since sales began 18 months ago.

BMW, Mercedes Q3 sales decline in China

BMW, Mercedes Q3 sales decline in China https://ift.tt/dwm4olr

Mercedes' sales fell 4 percent to 510,600 vehicles, while BMW's volume dipped 5.8 percent to 621,699 vehicles in the quarter.

Auto brand loyalty decline stalled in first half of 2023, S&P Global Mobility says

Auto brand loyalty decline stalled in first half of 2023, S&P Global Mobility says https://ift.tt/K7lg9n1

Recovering new-car inventories helped curb decline in the industry's brand loyalty rate in the first half of 2023, according to an analysis by S&P Global Mobility.

1 Thing We're Talking About: 2nd ‘More Than Cars' episode to debut

1 Thing We're Talking About: 2nd ‘More Than Cars' episode to debut https://ift.tt/gC1LNbt

The ‘More Than Cars' docuseries aims to tell the stories of the people who work in automotive retail.

Volvo sales rebound on demand for electrified vehicles

Volvo sales rebound on demand for electrified vehicles https://ift.tt/vl7CTKW

Volvo Car Corp.’s China deliveries rose four percent year on year to 15,460 in September, ending a three-month decline.

Geely’s Sept. deliveries jump 31%

Geely’s Sept. deliveries jump 31% https://ift.tt/ItiXFqV

Sales growth of Geely Automobile Holdings Limited is accelerating on demand for plug-in hybrids and conventional hybrids. 

Lawsuit: Adviser fired by Calif. dealership after getting COVID-19

Lawsuit: Adviser fired by Calif. dealership after getting COVID-19 https://ift.tt/4boaQSr

Cesar Luna said he was fired by Nissan of Mission Hills in Southern California after he took medical leave for COVID-19. He also asserts in a lawsuit the dealership didn't pay him all the wages he earned.

Tesla reintroduces rear-wheel drive Model Y at lower price

Tesla reintroduces rear-wheel drive Model Y at lower price https://ift.tt/m5Md4i0

The Model Y, a crossover that began deliveries in March 2020, is the company’s best-selling model. Tesla has tweaked prices several times since the beginning of the year.

Tesla reintroduces rear-wheel drive Model Y at lower price

Tesla reintroduces rear-wheel drive Model Y at lower price https://ift.tt/dnB4Y1M

The Model Y, a crossover that began deliveries in March 2020, is the company’s best-selling model. Tesla has tweaked prices several times since the beginning of the year.

Editorial: UAW strike at parts depots puts dealers in face of consumer frustration

Editorial: UAW strike at parts depots puts dealers in face of consumer frustration https://ift.tt/slXqGCE

As consumers' primary face-to-face touch point, dealers will likely bear the brunt of frustration when vehicles are unable to be repaired because of the UAW strike.