Xpeng touts 'super fast' software, AI upgrades as it mulls Europe output

Xpeng touts 'super fast' software, AI upgrades as it mulls Europe output https://ift.tt/xBzoL9W

Xpeng's exports could grow to around 10 percent of its sales this year from about 1 to 2 percent last year as the automaker pushes into new markets including France, Italy and the U.K.

Editorial: Legacy automakers toying with direct sales is wrongheaded

Editorial: Legacy automakers toying with direct sales is wrongheaded https://ift.tt/oP6sh9d

Dealer association executives are trying to turn brands associated with VW Group and Honda away from direct sales efforts and back to the franchise model.

Fred Beans buys 4 Rosenthal Automotive dealerships

Fred Beans buys 4 Rosenthal Automotive dealerships https://ift.tt/cfSbeWF

Rosenthal Automotive Organization divested four Philadelphia area dealerships it bought in June 2022 from Sussman Automotive Group.

Overheard: Mentoring young parts managers

Overheard: Mentoring young parts managers https://ift.tt/hgZrEax

Inventory help, being supportive are best ways to mentor young parts managers, said Scott Rutherford of Mike Maroone Chevrolet North and Mike Maroone Volkswagen in Colorado Springs, Colo., on "The Parts Girl Podcast."

Pretax charges drop Sonic Automotive's Q1 net income

Pretax charges drop Sonic Automotive's Q1 net income https://ift.tt/HuarTXE

The company said $7 million in pretax charges contributed to a 12 percent dip in first-quarter net income.

Group 1 net income falls nearly 7 percent in Q1

Group 1 net income falls nearly 7 percent in Q1 https://ift.tt/YPTWRJz

Group 1's net income fell, while revenue and new- and used-vehicle sales grew.

Vroom CEO: ‘Gut-wrenching' decision to end online used-car business

Vroom CEO: ‘Gut-wrenching' decision to end online used-car business https://ift.tt/5ERndPZ

When a search to secure more capital was unsuccessful, Vroom's senior leadership called it: The company would stop buying and selling used vehicles online as soon as possible.

Former AFG exec reveals 2023 CareGard data breach, criticizes company's response

Former AFG exec reveals 2023 CareGard data breach, criticizes company's response https://ift.tt/35cp2M1

AFG Cos. was unprepared for a ransomware attack last summer, for months had been unsure of the extent of the breach, and as of early this month hadn't alerted automaker partners or the agents selling its coverage to dealerships, a whistleblower alleges.

Struggling Nissan cuts profit and sales outlook on sliding volume, over-optimistic plans

Struggling Nissan cuts profit and sales outlook on sliding volume, over-optimistic plans https://ift.tt/Oq1jbhz

Nissan issues a profit warning, cutting profit and sales forecasts, as volume misses expectations and the automaker compensates suppliers for its over-optimistic plans

Collision technicians are happy overall, but issues remain, study shows

Collision technicians are happy overall, but issues remain, study shows https://ift.tt/EVhBwTP

Collision repair technicians are happier with their jobs than their service technician counterparts but not thrilled overall with the industry, a new report shows.

Finance managers should bring F&I foundation to deal

Finance managers should bring F&I foundation to deal https://ift.tt/CPVDGBM

During a presentation, Ascent Dealer Services CEO Adam Marburger encouraged finance managers to focus on the foundation of the dealership's finance and insurance operation and not just the sales themselves.

Tesla's global job cuts include leading markets U.S., China

Tesla's global job cuts include leading markets U.S., China https://ift.tt/IWh1toR

Tesla cuts jobs in U.S. and China amid falling sales. The layoffs affect sales and service positions. 

CarMax plans to shorten window for vehicle returns, refunds

CarMax plans to shorten window for vehicle returns, refunds https://ift.tt/OEmLWbj

Used-vehicle retailer CarMax announces changes to the length of its Money Back Guarantee that go into effect May 12.

New-car inventory and price changes approach normal in 2023, NADA report shows

New-car inventory and price changes approach normal in 2023, NADA report shows https://ift.tt/Jn5MkRa

The average retail selling price increased 1.6 percent to $47,014 in 2023, marking slower growth than the 9.2 percent increase in 2022.

Guest commentary: Video's role in selling vehicles in a buyer's market

Guest commentary: Video's role in selling vehicles in a buyer's market https://ift.tt/TWn5dYu

One of the most effective ways to raise a dealership's brand online and influence car shoppers is with video.

Shop Talk: Service departments part of dealership construction focus

Shop Talk: Service departments part of dealership construction focus https://ift.tt/63bqwoF

As dealerships are built or current facilities upgraded, service departments are part of the conversation, says Sam Rockaway, vice president of sales at Redcom Design & Construction in Westfield, N.J.

West Herr Automotive finds service advisers from within the organization

West Herr Automotive finds service advisers from within the organization https://ift.tt/5yt9TjI

West Herr Automotive Group is piloting an effort to recruit and train more female service advisers from within the organization — mainly its business development center.

Mercedes-Benz to introduce 2 new models ahead of Beijing auto show

Mercedes-Benz to introduce 2 new models ahead of Beijing auto show https://ift.tt/A0veOlr

The Mercedes AMG GT 63 S E Performance and the all-electric version of the G Class, Mercedes Benz' venerable off-roader, are set to debut in China this month.

Used-vehicle demand gathers pace

Used-vehicle demand gathers pace https://ift.tt/oYBAqeM

Used-vehicle sales in China rose 9.6 percent year on year to approach 1.38 million in March after growing 6.7 percent in the first two months of this year, the China Automobile Dealers Association said this week. 

Try a 'you may also like' pitch to sell low-cost extras to customers

Try a 'you may also like' pitch to sell low-cost extras to customers https://ift.tt/CKFqpau

Catching the customer's eye with "you may also like" car protection product selections in the manner of Amazon can drive incremental business in a car dealership finance and insurance office, according to Shawn McCool president of F&I sofware company iTapMenu.

Vehicle shipments rise 9.9% in March behind exports

Vehicle shipments rise 9.9% in March behind exports https://ift.tt/vxOzJNK

Automakers in China shipped some 502,000 vehicles abroad last month, an increase of 38 percent from a year earlier.

New Mexico EV mandate will remain in place, despite opposition from auto dealers

New Mexico EV mandate will remain in place, despite opposition from auto dealers https://ift.tt/2MDj7tO

The New Mexico Automotive Dealers Association and Garcia Automotive Group have opposed the state's EV mandate to adopt California's zero-emission vehicle rules.

BMW reveals new products, retail strategy at dealer meeting

BMW reveals new products, retail strategy at dealer meeting https://ift.tt/tF4yW1A

BMW will use technology and data sharing with dealerships to improve the customer experience and drive loyalty and after-sales revenue.

Lucid sales surge 40% in Q1 after price cuts

Lucid sales surge 40% in Q1 after price cuts https://ift.tt/BG2UOJX

The EV startup delivered 1,967 Air sedans in the first quarter and produced 1,728 after building up inventory last year. Lucid cut the price of its base Air by $7,500 in mid-February to spur demand.

Wolfe Automotive enters U.S., buys two Montana dealerships

Wolfe Automotive enters U.S., buys two Montana dealerships https://ift.tt/LtdJh1b

Wolfe Automotive Group, of Calgary, Alberta, in Canada, has purchased its first two U.S. dealerships.

AI and digital tools combat auto finance fraud, Informed.IQ report shows

AI and digital tools combat auto finance fraud, Informed.IQ report shows https://ift.tt/oxHdSA9

Just over 30 percent of Informed.IQ's survey respondents said they had an error in 1 out of every 4 deal jackets.

How we compile the top 150 dealership groups list

How we compile the top 150 dealership groups list https://ift.tt/zwrHZog

There were 14 groups from Automotive News' 2023 top 150 dealership groups list that submitted surveys this year but didn't make the 2024 list.

Pickups left out of Q1 auto sales growth

Pickups left out of Q1 auto sales growth https://ift.tt/L9SW75e

Sales of large pickups fell 4 percent in the first quarter in a new light-vehicle market that grew 5.6 percent.

Leo Michael cartoon: A seller eclipse

Leo Michael cartoon: A seller eclipse https://ift.tt/soAeSW5

Unlike most scientific experiments, any lessons learned by automakers and dealers — for example, how record-low inventories allowed them to achieve record profitability during an industrywide supply shortage — probably are not repeatable.

Used-vehicle wholesale prices fell slightly in March, Cox Automotive says

Used-vehicle wholesale prices fell slightly in March, Cox Automotive says https://ift.tt/S6Q0jHV

Cox Automotive also broke out year over year price fluctuations in vehicle segments.

Guest commentary: AI is a win-win for automotive retail

Guest commentary: AI is a win-win for automotive retail https://ift.tt/8KJgtLQ

While AI has been contributing positively to automotive retail, there is so much more on the horizon.

1 Thing We're Talking About: GAO report examines right-to-repair issue

1 Thing We're Talking About: GAO report examines right-to-repair issue https://ift.tt/9dQpz4f

The U.S. Government Accountability Office released a report on potential impacts that changing technologies would have on the right-to-repair issue.

GM’s China sales dip 4.5% in Q1

GM’s China sales dip 4.5% in Q1 https://ift.tt/BMmciby

Chevrolet deliveries dropped 47 percent to about 18,000 while Buick sales dipped 2.8 percent to around 103,000.

New-car sales expand 7% in March, trade group estimates

New-car sales expand 7% in March, trade group estimates https://ift.tt/gzR7uME

Sales of new passenger vehicles including sedans, crossovers, SUVs and multipurpose vehicles industrywide rose 7 percent year on year to approach 1.7 million in March, the China Passenger Car Association estimated Wednesday, drawing on a preliminary tally.

STELLANTIS: Q1 sales down 9.7% on lower Ram volume

STELLANTIS: Q1 sales down 9.7% on lower Ram volume https://ift.tt/bvVxhEy

Ram and Dodge saw the biggest declines, but Jeep started the year with a 1.8 percent increase after five consecutive years of lower sales.

F&I data: Leasing up to 22% of new-vehicle deals in Q4 2023, Experian says

F&I data: Leasing up to 22% of new-vehicle deals in Q4 2023, Experian says https://ift.tt/wPV3ZWU

Leasing rebounded to 22 percent of new-car deals in the fourth quarter of 2023, up from 18 percent a year earlier, according to Experian.

Guest commentary: AI poised to have positive impact on auto finance

Guest commentary: AI poised to have positive impact on auto finance https://ift.tt/L5ikQyK

With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience and detecting fraud.

Consumers with low credit face confusion in auto financing, survey finds

Consumers with low credit face confusion in auto financing, survey finds https://ift.tt/5Wnk1aS

A key factor holding consumers with lower credit scores back is confusion with the lending process, Open Lending found.

Champ Titles says more states are adopting its digital vehicle titling

Champ Titles says more states are adopting its digital vehicle titling https://ift.tt/8LZp5Xz

Champ Titles will bring its digital vehicle titling to one of the nation's most populous states, and its CEO said two more state governments will sign on soon.

GM sales dip in Q1; Toyota, Honda rack up double-digit gains

GM sales dip in Q1; Toyota, Honda rack up double-digit gains https://ift.tt/h2KUSBV

U.S. light-vehicle sales are projected to rise 4.7 percent to 12 percent in March, and 4.5 to 5.6 percent in the first quarter, based on estimates from forecasters, as market growth slows.

Used-vehicle sales get tax refund lift, Cox says

Used-vehicle sales get tax refund lift, Cox says https://ift.tt/SFHxB17

Used-vehicle retail transactions grew weekly from late January to March 14, an indication of the seasonal uptick those sales typically experience as consumers spend their tax refund dollars.

March U.S. sales edge up at Hyundai, slip again at Kia

March U.S. sales edge up at Hyundai, slip again at Kia https://ift.tt/gBKsvP4

U.S. light-vehicle sales are projected to rise 4.7 percent to 12 percent in March, and 4.5 to 5.6 percent in the first quarter, based on estimates from forecasters, as market growth slows.

Column: Opposites attract in New York, while EV heartburn persists

Column: Opposites attract in New York, while EV heartburn persists https://ift.tt/5IbwrH7

From the transition to electric power to an easing of EPA regulations and rising inventories, last week demonstrated how the industry is a study in contrasts.

Will industry learn lesson from lean inventories?

Will industry learn lesson from lean inventories? https://ift.tt/Ivs6Tqm

Automakers pledged to maintain lower inventories for higher profits when the production crisis abated. As the industry approaches 3 million unsold vehicles, will the lessons from that time take root? Or be ignored?

March sales look robust, thanks to incentives and inventory

March sales look robust, thanks to incentives and inventory https://ift.tt/vwgM7aU

Analysts see March U.S. auto sales as the best month since May 2021 because of increasing inventories — and resulting rising incentives and retreating prices.

Electrified vehicles will account for 45% of March new-car sales, trade group predicts

Electrified vehicles will account for 45% of March new-car sales, trade group predicts https://ift.tt/BAJtyMU

Overall sales of new passenger vehicles, including sedans, crossovers, SUVs and multipurpose vehicles, will increase 3.7 percent to about 1.65 million in March, the China Passenger Car Association predicts.

Nissan taps Southeast Asia chief to lead Dongfeng JV

Nissan taps Southeast Asia chief to lead Dongfeng JV https://ift.tt/fiD2pz0

Nissan plans to refresh 73 percent of Nissan-badged models and roll out eight electrified vehicles, in addition to hiking Chinese exports, as part of a midterm plan to revive lagging China sales.

1 Thing We're Talking About: EV service visits might be more frequent than first thought, CDK survey shows

1 Thing We're Talking About: EV service visits might be more frequent than first thought, CDK survey shows https://ift.tt/pFYw72n

When it comes to EVs, the thinking is that with a smaller number of moving parts dealership service departments will lose revenue because of fewer owner visits. Some EV manufacturers don't even recommend a service visit in the first year.

Nio cuts Q1 sales forecast amid tepid demand

Nio cuts Q1 sales forecast amid tepid demand https://ift.tt/uYxyk2R

A price war started by Tesla in China last year to combat weakening demand in the region has also hit the margins of domestic EV companies including Nio.

F&I should build relationships with auto dealership sales, service departments

F&I should build relationships with auto dealership sales, service departments https://ift.tt/2HWUIb5

Auto dealership finance professionals need to be 'servant leaders' — and for other dealership departments as well as the customer, says Ascent Dealer Services CEO Adam Marburger.

Porsche CEO: U.S. is the backbone of the brand's sales momentum

Porsche CEO: U.S. is the backbone of the brand's sales momentum https://ift.tt/61V7Yn2

Porsche told retailers it expects U.S. sales to improve marginally this year from a record in 2023.

Nissan eyes next-gen EVs, hybrids, 1 million more sales in broad 3-year strategy

Nissan eyes next-gen EVs, hybrids, 1 million more sales in broad 3-year strategy https://ift.tt/uMiqTRO

Nissan said it will launch seven “all-new” models in the U.S. and Canada over the next three years, as part of the push. And the company pledged to refresh 78 percent of its U.S. lineup in that time.

New Nissan plan eyes next-gen EVs, hybrids, 1 million more sales

New Nissan plan eyes next-gen EVs, hybrids, 1 million more sales https://ift.tt/UX4HSCk

Nissan wants to boost global sales by 1 million vehicles over the next three years in a new mid-term plan that outlines the introduction of hybrid vehicles to the U.S. market, a next-generation electric vehicle development and production strategy, as well as new batteries.

Jeep Grand Cherokee defies brand's sales woes

Jeep Grand Cherokee defies brand's sales woes https://ift.tt/xOh41G8

By expanding the Grand Cherokee into a family of models that includes a three-row option and a plug-in hybrid, sales have climbed even as the brand lost customers overall.

Honda to trim U.S. dealer profit margins

Honda to trim U.S. dealer profit margins https://ift.tt/Hkqc1dC

The company is also making some reductions and changes in marketing, advertising and service payments as it adjusts spending for the shift to electric vehicles.

Program that trains foster kids to be technicians expanding to Los Angeles

Program that trains foster kids to be technicians expanding to Los Angeles https://ift.tt/kjRXChE

Petra Cares, a Houston area nonprofit training kids who age out of the foster care system to become automotive service technicians, is expanding its program to Los Angeles.

New-car sales rise 13% in first 17 days of March, trade group says

New-car sales rise 13% in first 17 days of March, trade group says https://ift.tt/umwWtBn

Sales of electrified vehicles surged 56 percent to around 335,000 during the period, the China Automobile Dealers Association said.

Talk to each other: How dealers can smooth tech vendor bumps

Talk to each other: How dealers can smooth tech vendor bumps https://ift.tt/zE8vShp

CEO Liza Borches has pursued a multiyear effort to streamline her dealership group's use of technology and make remaining vendors work better together. That included a summit of all the major players.

Dealerships' responses to website inquiries improving, new study shows

Dealerships' responses to website inquiries improving, new study shows https://ift.tt/regL0CD

Pied Piper's study, released this month, ranks dealerships on a 100-point scale based on how they respond to mystery customer inquiries on their websites within 24 hours.

Technology and AI can help new and veteran F&I managers alike overcome process pain points

Technology and AI can help new and veteran F&I managers alike overcome process pain points https://ift.tt/ZkwhSvU

Higher sales volume on car dealership lots is inevitably returning. That means more deals being drafted and more customers entering the F&I office.

Franchised used car dealer sentiment lowest since pandemic, Cox survey shows

Franchised used car dealer sentiment lowest since pandemic, Cox survey shows https://ift.tt/wsTUh4f

Franchised and independent dealers also reported year over year growth or stability in used-car inventory mix, Cox Automotive's latest Dealer Sentiment Index says.

Customer experience should be prioritized

Customer experience should be prioritized https://ift.tt/bANGsjd

As long as there is negotiation and sales consultants being paid commission, the auto industry will have a black eye.

GM works to improve parts, accessories e-commerce

GM works to improve parts, accessories e-commerce https://ift.tt/tugz2nO

Last summer, General Motors combined separate digital storefronts — one for parts, one for vehicle accessories — into a single website for each of its four vehicle brands.

Editorial: Stair-step incentives are dead. Let them stay that way

Editorial: Stair-step incentives are dead. Let them stay that way https://ift.tt/w51RkaC

Stair-step incentives, which were prevalent among many automakers before the pandemic, largely died when inventories shrunk. Now that inventories are growing again, automakers should bypass the temptation to resurrect the destructive sales tactic.

Farley, top Ford execs hit road to hear dealers' concerns

Farley, top Ford execs hit road to hear dealers' concerns https://ift.tt/8qYTs5S

The tour comes as dealer trust levels within Ford have plummeted as the company faces continued quality woes and questions over its electrification strategy.

Beijing plan to cut down payments for new cars likely to fall flat, analysts say

Beijing plan to cut down payments for new cars likely to fall flat, analysts say https://ift.tt/jiTNKQ4

Regulators pitching the move as a way to boost the economy say they will set car loan terms and quotas "reasonably," but stopped short of revealing the new levels.

Used-vehicle market expands in first 2 months

Used-vehicle market expands in first 2 months https://ift.tt/0ejLYuy

Sales of used light vehicles across China rose 6.7 percent from a year earlier to surpass 2.33 million in the first two months of the year, the China Automobile Dealers Association said.

SAIC-GM vehicle shipments drop in first 2 months

SAIC-GM vehicle shipments drop in first 2 months https://ift.tt/r1CcE69

SAIC-General Motors, GM’s passenger-vehicle joint venture with SAIC Motor Corp., lost more market share in China in the first two months of 2024, with wholesale deliveries dropping 60 percent to 49,500. 

Cox: Dealers optimistic about service and parts business

Cox: Dealers optimistic about service and parts business https://ift.tt/I24VUDu

Dealers remain positive about their service and parts business, though that sunny outlook was a bit less than a year ago, according to the latest Cox Automotive Dealer Sentiment Index.

Retail auto tech entrepreneur guides new mobile learning startup

Retail auto tech entrepreneur guides new mobile learning startup https://ift.tt/MKDcGl8

Marco Schnabl is the co-founder of RockED, a mobile learning platform targeting the retail auto industry.

Ind. dealership group starts high school program to develop future auto technicians

Ind. dealership group starts high school program to develop future auto technicians https://ift.tt/7UlJx6A

Many dealerships look to community college training programs as a source of future auto mechanics. An Indiana dealership group is starting even earlier in its search — high school.

Nissan returns to sales playbook to move old Rogue supply

Nissan returns to sales playbook to move old Rogue supply https://ift.tt/9GocReg

Nissan is offering dealers a $1,000 bonus on each 2023 Rogue sold in March if they meet their volume target, which varies by store.

Feb. vehicle shipments slip 20%, year-to-date volume up 11%

Feb. vehicle shipments slip 20%, year-to-date volume up 11% https://ift.tt/dQufDo6

Fluctuation in January and February wholesale deliveries reflects timing of China's Lunar New Year holiday, the China Association of Automobile Manufacturers said.

Guest commentary: How captives and banks should respond to buyers' evolving tastes

Guest commentary: How captives and banks should respond to buyers' evolving tastes https://ift.tt/XEe8LAK

A lender expanding into new product and service areas such as subscriptions has challenges integrating the new additions into their platform.

Column: How to combat the fraud problem in the auto finance market

Column: How to combat the fraud problem in the auto finance market https://ift.tt/3mcYxrC

Automotive finance fraudsters today are armed with evolving technology and backed by crime syndicates; dealerships will need to be vigilant and innovative to keep up.

Leo Michael cartoon: Pot o' gold

Leo Michael cartoon: Pot o' gold https://ift.tt/xztM1RX

The U.S. new-car dealership count in 2023 fell slightly year over year, but throughput, or the average new-vehicle sales per franchise, jumped as inventory rebounded, according to Automotive News' annual dealer census.

Vehicle subscriptions look for customers through EVs

Vehicle subscriptions look for customers through EVs https://ift.tt/5XkjLPt

All-electric programs have emerged as the subscription model looked like it might die out in the U.S.

1 Thing We're Talking About: Ford, dealers invest $2 million for future service techs

1 Thing We're Talking About: Ford, dealers invest $2 million for future service techs https://ift.tt/xp9Fs23

Ford and its retail network are working to combat the service tech shortage by offering 400 students $5,000 each to earn their automotive tech degree or certificate.

New-car sales slump 21% in Feb., trade group estimates

New-car sales slump 21% in Feb., trade group estimates https://ift.tt/6oX3g5A

Retail sales of new sedans, crossovers, SUVs and multipurpose vehicles industrywide skidded 21 percent to below 1.1 million last month, the China Automobile Dealers Association said, drawing on a preliminary tally.

7 key takeaways from U.S. auto sales in February

7 key takeaways from U.S. auto sales in February https://ift.tt/XdIfAQJ

February marked the 19th consecutive month when sales increased year over year, with the SAAR topping 16 million for the fourth time in the past year.

Carvana CEO: How retailer executes eventual scale-up is crucial

Carvana CEO: How retailer executes eventual scale-up is crucial https://ift.tt/B0oLaRn

Carvana CEO Ernie Garcia said the retailer is not yet leaning back into growth, but will eventually enter a transition period to do so.

F&I gross profit per vehicle down for 4 of 6 publics in Q4

F&I gross profit per vehicle down for 4 of 6 publics in Q4 https://ift.tt/ReZPY7m

Same-store finance and insurance gross profit per car sold fell at four of the top six franchised auto dealership groups in the fourth quarter compared with a year earlier. AutoNation was the only major new-vehicle public retailer to grow F&I profit per vehicle retailed in full-year results.

Dealers, lenders say AI decisioning leads to inaccurate digital auto retail quotes

Dealers, lenders say AI decisioning leads to inaccurate digital auto retail quotes https://ift.tt/rVZH9wE

Ninety percent of car dealers and lenders feel the use of artificial intelligence to evaluate consumer creditworthiness has led to shoppers receiving inaccurate initial car payment quotes, according to a December poll by auto finance software provider eLEND Solutions.

Guest commentary: Buying a car should be like boarding a plane

Guest commentary: Buying a car should be like boarding a plane https://ift.tt/lUMAQ0y

When airports get busy and the security line backs up, they don't skip steps. Dealerships are sometimes different. The busier they become, the more frequent some of the steps are skipped.

2024 Automotive News Dealer Census

2024 Automotive News Dealer Census https://ift.tt/rwunZoP

Some automaker initiatives to reduce store counts proved strong last year.

Jaguar assembly lines go dormant in June, but stockpile to keep dealers supplied until next year

Jaguar assembly lines go dormant in June, but stockpile to keep dealers supplied until next year https://ift.tt/IushDlY

JLR is planning a tightly managed transition from the current lineup to a new one that aims to keep Jaguar dealers from running out of new vehicles.

Audi partners with Costco on new incentive program

Audi partners with Costco on new incentive program https://ift.tt/jeLoXTP

The specials are highest on some of the German luxury brand's electric vehicles and big sedans.

Ineos waits for San Francisco Bay Area dealership to open

Ineos waits for San Francisco Bay Area dealership to open https://ift.tt/l3SmJ6g

Ineos Automotive, which has just the Grenadier SUV on sale at the moment, has been operating without a key U.S. location: Silicon Valley.

New-vehicle sales slide in first weeks of Feb. behind holiday, trade group says

New-vehicle sales slide in first weeks of Feb. behind holiday, trade group says https://ift.tt/xW4Uq52

Retail sales of new sedans, crossovers, SUVs and multipurpose vehicles fell 25 percent to some 861,000 in the first 25 days of February, according to a tally by the China Automobile Dealers Association.

Dealerships are now eligible for recognizable Energy Star branding

Dealerships are now eligible for recognizable Energy Star branding https://ift.tt/nRmFKDI

The coveted designation, which consumers have relied on for decades to suss out the most energy-efficient appliances, now includes a completely different category: car dealerships.

Auto lender tapped Wolters Kluwer, Informed.IQ for digitization while still using paper

Auto lender tapped Wolters Kluwer, Informed.IQ for digitization while still using paper https://ift.tt/BAgT2z7

It's possible for a lender to digitize auto finance workflow without having gone fully paperless, according to financial technology companies Wolters Kluwer and Informed.IQ.

Guest commentary: Is your auto payments data working for you? 5 questions to ask

Guest commentary: Is your auto payments data working for you? 5 questions to ask https://ift.tt/y6fbi2A

Auto lenders recognize their payments data holds valuable information and insights. The challenge lies in uncovering the key details that can enhance and guide daily decision making.

McLaren hooks up with O'Gara Coach Co. for a 12,000-square-foot Las Vegas retail outpost

McLaren hooks up with O'Gara Coach Co. for a 12,000-square-foot Las Vegas retail outpost https://ift.tt/Xls5jfP

McLaren anticipates adding up to four ultraluxury stores in two to three years.

Phil Long Dealerships Chairman Jay Cimino dies

Phil Long Dealerships Chairman Jay Cimino dies https://ift.tt/NHlQE2X

Cimino became CEO of Phil Long Dealerships in 2001 and is known for his contributions to the company's growth.

Stellantis dealers prepare for EV rush in 2024

Stellantis dealers prepare for EV rush in 2024 https://ift.tt/72haXZM

With the first Stellantis EVs arriving this year, dealerships have to meet training requirements for sales associates, technicians, service advisers and management.

Federal Reserve leaves interest rates unchanged, says more 'confidence' needed in inflation slowdown before cuts

Federal Reserve leaves interest rates unchanged, says more 'confidence' needed in inflation slowdown before cuts https://ift.tt/G3c7QoT

For the auto industry, interest rates remain top of mind for franchised dealerships.

Toyota global EV sales quadruple in 2023, still big gap with goal

Toyota global EV sales quadruple in 2023, still big gap with goal https://ift.tt/akoGuJn

Toyota sold 104,018 EVs worldwide last year, but the automaker has a long way to go before it reaches its target of selling 1.5 million in 2026.

Guest commentary: Is AI-powered GPT a friend or foe?

Guest commentary: Is AI-powered GPT a friend or foe? https://ift.tt/SCwZRDf

Even as the automotive software industry races to embrace GPT, a closer look reveals a lack of true innovation in these new tools.

BYD faces key decisions in growing European market share

BYD faces key decisions in growing European market share https://ift.tt/4JayNdc

BYD is having an internal debate about which products, brands and powertrains to launch in Europe, where it will soon open a car plant in Hungary.

Column: NADA Show is like the Super Bowl of auto retail

Column: NADA Show is like the Super Bowl of auto retail https://ift.tt/tvuJbxH

NADA Show 2024, coming up in a few days, is akin to automotive retail's Super Bowl, a mix of meetings, mingling, music, demonstrations, drinking and dancing.

Column: Even an imperfect salary survey uncovers important truths

Column: Even an imperfect salary survey uncovers important truths https://ift.tt/rg18C4i

Respondents with decades of experience were overrepresented, but the bottom-line takeaways are still useful.

Editorial: EV startups' sales path show value of auto dealers

Editorial: EV startups' sales path show value of auto dealers https://ift.tt/ioOFvd5

EV startups Fisker and VinFast are abandoning direct sales in favor of the tried-and-true franchise dealership model.

NADA Chairman Geoffrey Pohanka looks back on his tenure

NADA Chairman Geoffrey Pohanka looks back on his tenure https://ift.tt/7wSIo02

Direct-to-consumer sales, fuel economy legislation and the Federal Trade Commission's CARS Rule were just some of the issues the outgoing NADA chairman faced in 2023.

Guest commentary: While recall repair rates have improved, much work remains

Guest commentary: While recall repair rates have improved, much work remains https://ift.tt/xjcvRs5

Dealers need to know immediately, and with certainty, if a vehicle in their inventory has an open recall.

Conn. dealership target of lawsuit by former service manager they sued for leaving

Conn. dealership target of lawsuit by former service manager they sued for leaving https://ift.tt/0xHaNSi

After service manager Brent Mattson resigned from Central Hyundai in Plainfield, Conn., to join a rival dealership, his ex-employer sued him.

New-car sales rebound sharply in first weeks of January

New-car sales rebound sharply in first weeks of January https://ift.tt/4UBn0MV

Some 1.23 million sedans, crossovers, SUVs and multipurpose vehicles were delivered across China in the first three weeks of January, the China Automobile Dealers Association said.

Reduced hours to stay at some car dealerships, owners say

Reduced hours to stay at some car dealerships, owners say https://ift.tt/ZfORcNX

Dealership owners say clipping just an hour or so a day — which many did during the COVID-19 pandemic and have since continued — has aided employee turnover and morale.

Automotive News Dealership Compensation Calculator

Automotive News Dealership Compensation Calculator https://ift.tt/OdI4DZw

See how your pay stacks up against the expected 2023 incomes of other U.S. auto retail employees and managers.

BYD tops VW as China's No. 1 selling car brand in 2023

BYD tops VW as China's No. 1 selling car brand in 2023 https://ift.tt/pHM81jw

VW had been China’s best-selling brand since at least 2008, when industry data first became available.

E-commerce used-vehicle retailer Vroom to cease operations

E-commerce used-vehicle retailer Vroom to cease operations https://ift.tt/AfEW1Je

Online used-vehicle retailer Vroom Inc. said it will wind down its e-commerce operations and used-vehicle dealership business.

Column: Could you do better? Check out the Automotive News Dealership Salary Survey results

Column: Could you do better? Check out the Automotive News Dealership Salary Survey results https://ift.tt/GitzCNH

and a partner firm surveyed more than 1,000 U.S. auto retail professionals from Aug. 1, 2023, to Oct. 26, 2023, in our inaugural car Dealership Salary Survey. The findings provide details on auto dealership pay and benefits for supervisors and employees.

2024 Automotive News Dealership Salary Survey highlights

2024 Automotive News Dealership Salary Survey highlights https://ift.tt/3Zb6Ngn

Reclusive billionaire dealer Terry Taylor speaks

Reclusive billionaire dealer Terry Taylor speaks https://ift.tt/ks8xliO

One source compared the billionaire to Batman. 'You hear about him and you admire his work, but nobody has really ever seen him in real life.'

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura https://ift.tt/o7iZEmW

Pete Liebetreu, executive at Hunter Engineering, talks about a potential role for AI in tire and wheel services and what the company will unveil at NADA Show.

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura https://ift.tt/3edLAHr

Pete Liebetreu, executive at Hunter Engineering, talks about a potential role for AI in tire and wheel services and what the company will unveil at NADA Show.

Backlog at new-car stores drops for 3rd straight month

Backlog at new-car stores drops for 3rd straight month https://ift.tt/ahOy2gf

Stockpiles at new-car dealerships dipped to a 36-day supply on average in December from 43 days a month earlier, as vehicle demand accelerated at year end, the China Automobile Dealers Association said.

American Honda targets 1.4 million sales in 2024

American Honda targets 1.4 million sales in 2024 https://ift.tt/VZgUwsx

American Honda expects to sell 1.4 million vehicles in 2024 between its Honda and Acura brands, and will launch four electrified products this year as well as a new, entry-level Acura crossover.

'24 focus for Volvo dealers: Profit margin, EV transition

'24 focus for Volvo dealers: Profit margin, EV transition https://ift.tt/r7lEDOH

Volvo retailers would like to see a greater focus on plug-in hybrids.

Lamborghini topped 10,000 sales last year for first time, CEO says

Lamborghini topped 10,000 sales last year for first time, CEO says https://ift.tt/q4GkHou

Lamborghini delivered a total of 10,112 sports cars and SUVs last year, up from over 9,200 vehicles in 2022.

Service advisers need more EV training

Service advisers need more EV training https://ift.tt/sAgmjpi

One piece of data in the Duker Carlisle research should be especially heeded by fixed ops leaders because it involves a new area of adviser training never covered in the past — how to answer questions about EVs.

2023 U.S. sales: Who’s up, who’s down

2023 U.S. sales: Who’s up, who’s down https://ift.tt/ncirFO7

With COVID-19 disruptions, the microchip shortage and other supply snags now largely in the rearview mirror, U.S. auto sales rebounded to the highest level since 2019.

Polestar misses target for 2023 deliveries

Polestar misses target for 2023 deliveries https://ift.tt/BqAK1vT

Elevated interest rates to tame stubbornly high inflation resulted in weak demand for Polestar's luxury vehicles, as buyers flocked toward lower-priced alternatives.

Lucid Q4 deliveries fall 10 percent; stock plummets

Lucid Q4 deliveries fall 10 percent; stock plummets https://ift.tt/FfwicQx

The EV startup reported 1,734 deliveries in the most recent quarter and full-year sales of 6,001. Lucid has repeatedly cut its production forecasts amid weak demand for its luxury Air sedan.

Vehicle output, shipments in 2023 top 30 million, set records

Vehicle output, shipments in 2023 top 30 million, set records https://ift.tt/Iu0137D

Vehicle shipments industrywide jumped 24 percent to 3.16 million in December, with 2023 volume rising 12 percent to a record 30.09 million, the China Association of Automobile Manufacturers said.

Used-vehicle market expands 15% in 2023

Used-vehicle market expands 15% in 2023 https://ift.tt/DxvtQL8

Sales of used light vehicles in China rose 17 percent to 1.34 million last month, the China Automobile Dealers Association said, with 2023 volume up 15 percent to nearly 14.8 million.

Ga. dealership accused of denying former collision center director medical leave

Ga. dealership accused of denying former collision center director medical leave https://ift.tt/hjBH7Es

A former collision center director has filed a disability discrimination and retaliation suit against a Georgia dealership claiming he was wrongfully denied medical leave.

Inventory rises to three-year high

Inventory rises to three-year high https://ift.tt/MupkQvX

New-vehicle inventory levels in the United States climbed by 200,000-plus vehicles in December to more than 2.7 million, the highest in three years, according to data from Cox Automotive.

Lawsuit: Ohio dealership forged customer's signature on niece's financing documents

Lawsuit: Ohio dealership forged customer's signature on niece's financing documents https://ift.tt/g2ihktn

A customer has sued a Bedford, Ohio, dealership for allegedly forging her signature on another customer's sales and financing documents.

Billie Jean Ellis, co-founder of Jim Ellis Automotive, dies at 89

Billie Jean Ellis, co-founder of Jim Ellis Automotive, dies at 89 https://ift.tt/0SIrfHs

Billie Jean Ellis co-founded the group with her husband, Jim Ellis.

GM's sales drop in 2023; U.S. biggest market once again

GM's sales drop in 2023; U.S. biggest market once again https://ift.tt/j6cNQUA

After peaking at 4 million in 2017, GM’s China sales have steadily dropped by nearly half.

The new normal: Stagnant domestic demand, surging exports

The new normal: Stagnant domestic demand, surging exports https://ift.tt/07s4xRV

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

Penske feature leaves out other contributions

Penske feature leaves out other contributions https://ift.tt/3bO5p9h

While it was great to see Roger Penske featured in your all-stars list, you missed his contribution to the dealer network.

Column: Internet pranksters could dampen dealership embrace of ChatGPT

Column: Internet pranksters could dampen dealership embrace of ChatGPT https://ift.tt/x89U6gM

A prankster attack on dealership websites was more silly than serious. But what about next time?

Big December finish gives automakers fresh hope for 2024, despite headwinds

Big December finish gives automakers fresh hope for 2024, despite headwinds https://ift.tt/I9yeWw2

U.S. auto sales grew 9.2 percent in the fourth quarter to finish the year up 13 percent to 15.6 million. Optimistic automaker executives see growth continuing in 2024 as inventories improve and incentives grow.

Improve job satisfaction and service adviser retention by providing more training

Improve job satisfaction and service adviser retention by providing more training https://ift.tt/UrQzSjI

If dealerships want to improve service adviser job satisfaction and retention, consultant A.J. Holst says one important puzzle piece is more training.

The new normal: Stagnant domestic demand, surging exports

The new normal: Stagnant domestic demand, surging exports https://ift.tt/s9gX6Yp

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

The new normal: Stagnate domestic demand, surging exports

The new normal: Stagnate domestic demand, surging exports https://ift.tt/6GHNpES

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

SUBARU: Sales rise 6% in Q4 on improved inventories

SUBARU: Sales rise 6% in Q4 on improved inventories https://ift.tt/l8KydnR

Subaru sales rose 6 percent in the fourth quarter to 164,862, and were up 14 percent for the year to 632,086.

More consumers opted for shorter car loans with lower interest

More consumers opted for shorter car loans with lower interest https://ift.tt/PLimlUW

More than one-tenth of consumers continued to take out shorter loans on new cars in the third quarter in search of lower interest rates, Experian said Nov. 30.

Guest commentary: How auto retailers are using connected vehicle data for lot management solutions

Guest commentary: How auto retailers are using connected vehicle data for lot management solutions https://ift.tt/wm9yT8H

These solutions are leveraging new data technologies to help reduce costs, improve customer experience and enhance efficiency as well as safety in inventory operations, leading to increased profitability.

VinFast opens first U.S. dealership with Leith Automotive Group in N.C.

VinFast opens first U.S. dealership with Leith Automotive Group in N.C. https://ift.tt/k9XTfsG

The Vietnamese EV maker's first franchised store opened in late December in Cary, N.C., marking the first step toward a national dealer network. The company sells direct to consumers in California, its first U.S. market.

BYD posts record quarter to challenge Tesla for EV sales lead

BYD posts record quarter to challenge Tesla for EV sales lead https://ift.tt/N5Q3sZg

BYD's vehicle sales were helped by aggressive end-of-year discounting.

Geely sets 2024 sales target at 1.9 million

Geely sets 2024 sales target at 1.9 million https://ift.tt/q2xy56K

Geely said it sold 1.69 million vehicles in 2023, up 18 percent from 2022.