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.