OPEN LETTER: Government's overly aggressive EV push has ignored market reality, and now we're seeing the results

OPEN LETTER: Government's overly aggressive EV push has ignored market reality, and now we're seeing the results https://ift.tt/4gw9mca

With the 2024 elections fast approaching, it's clear that our fears were warranted.

VW, Wells Fargo tie-up an advantage for dealers

VW, Wells Fargo tie-up an advantage for dealers https://ift.tt/76YNm8S

Volkswagen Financial Services will continue to handle leasing and customer service, ensuring minimal disruption for dealers, while Wells Fargo steps in to manage retail financing.

Chevy launches EV training road tour for dealership sales teams

Chevy launches EV training road tour for dealership sales teams https://ift.tt/lzQF1dp

Chevy's program combines educational sessions designed to dispel myths with opportunities to drive EVs from GM and from rival automakers.

Daily 5 report for Sept. 27: More turmoil ahead in Vinnie Johnson's minority certification controversy

Daily 5 report for Sept. 27: More turmoil ahead in Vinnie Johnson's minority certification controversy https://ift.tt/8HzKIrk

The Michigan Minority Supplier Development Council isn't going away in its quest to strip Piston Group of its minority certification.

Edmunds' new digital campaign turns to TikTok, YouTube, Meta

Edmunds' new digital campaign turns to TikTok, YouTube, Meta https://ift.tt/Gup8ZCN

Online car shopping guide Edmunds is running a sports-themed fall social media advertising campaign to boost brand awareness and help retailers sell more cars.

September, Q3 sales impacted by ‘calendar quirk,' affordability challenges

September, Q3 sales impacted by ‘calendar quirk,' affordability challenges https://ift.tt/vodlmXK

Analysts observe no new momentum in the quarter and a mostly lackluster sales pace.

New-vehicle sales will rebound 4% in September, trade group predicts

New-vehicle sales will rebound 4% in September, trade group predicts https://ift.tt/RtN5Vsq

Retail sales of new sedans, crossovers, SUVs and multipurpose vehicles will expand 4 percent from a year earlier to 2.1 million in September after declining five straight months, the China Passenger Car Association predicted. 

Service Tip: Advisers can earn a good customer survey score by being an advocate

Service Tip: Advisers can earn a good customer survey score by being an advocate https://ift.tt/qEd5Ivm

Even if a customer is not happy with the price of a repair, service advisers can still get a good survey score if they are engaged and helpful, says Chris Craig, fixed operations content owner on the RockED app.

EV sales will improve when automakers address affordability, experts say

EV sales will improve when automakers address affordability, experts say https://ift.tt/gB4vdRz

The big hindrance constraining electric vehicle sales remains affordability, said Dave Katarski, COO of Feldman Automotive Group, during a panel discussion at the Automotive News Congress.

Traditional auto dealership franchises might work best, new study says

Traditional auto dealership franchises might work best, new study says https://ift.tt/nBeuYx7

A new Oliver Wyman study, commissioned by NADA, believes the cost advantages of hybrid or direct-to-consumer auto distribution models have been overstated.

Ohio Ford-Lincoln dealership service department sees benefits in going paperless

Ohio Ford-Lincoln dealership service department sees benefits in going paperless https://ift.tt/bcrUgKq

Beau Townsend Ford-Lincoln has seen its recruiting and retention of young technicians and advisers grow with its all-digital efforts.

Dealerships can start filing claims in CDK antitrust settlement

Dealerships can start filing claims in CDK antitrust settlement https://ift.tt/aSHtp1F

An Illinois federal judge has granted preliminary approval for CDK's agreement to pay $100 million to resolve a class-action antitrust lawsuit.

Column: How I beat the high cost of new cars

Column: How I beat the high cost of new cars https://ift.tt/CSz1KtQ

Like many Americans, my wife and I consider ourselves priced out of the new-car market. Low-mileage, older used cars are how to beat high prices.

Hold technicians responsible for work

Hold technicians responsible for work https://ift.tt/5bzcIvZ

Technicians, or the talent, are running fixed operations. Let’s take back control with practices we are already using.

How much auto demand will the Fed's 0.5-point rate cut produce?

How much auto demand will the Fed's 0.5-point rate cut produce? https://ift.tt/iOMZEj3

The Federal Reserve cut its benchmark rate target 0.5 points on Sept. 18, which could reduce the market interest rates that Cox Automotive polling indicates are dealerships' No. 1 challenge.

Stellantis taking heat from dealers, UAW amid EV push

Stellantis taking heat from dealers, UAW amid EV push https://ift.tt/AzMNwor

As Stellantis tries to build sales momentum in the U.S. and presses forward with its EV offensive, it's facing unrest among several constituencies that are monumentally important to its success.

Top 5 stories of the week: VW drops in-house loans; UAW pressures Stellantis

Top 5 stories of the week: VW drops in-house loans; UAW pressures Stellantis https://ift.tt/ip70EAc

A quick look at the top automotive stories of the week as determined by reader interest.

VW dealers get glimpse of future U.S. product

VW dealers get glimpse of future U.S. product https://ift.tt/dcLxjU0

VW's U.S. sales rose 26 percent in the first half of 2024, the largest gain of any mass-market brand. VW dealers to get fresh products by year-end.

Half-point Fed rate cut could spur consumer demand at auto dealerships

Half-point Fed rate cut could spur consumer demand at auto dealerships https://ift.tt/zkiZpwq

Car dealerships might see higher demand from consumers following the Federal Reserve's decision Sept. 18 to cut its benchmark rate target 0.5 points, according to Edmunds.

F&I data: Average Q2 used-vehicle payment down but interest rate up, Experian says

F&I data: Average Q2 used-vehicle payment down but interest rate up, Experian says https://ift.tt/kw84yea

The average used-car auto loan during Q2 2024 financed $26,248 with a $525 monthly car payment and 12 percent interest, according to Experian.

Feedback: More than half of new-car buyers want introduction to service department, but most don't get it, survey shows

Feedback: More than half of new-car buyers want introduction to service department, but most don't get it, survey shows https://ift.tt/uDpF2Ca

While 51 percent of new-vehicle buyers said it was 'very important' to meet someone from the service department, only 37 percent did, according to a recent survey.

Volkswagen dropping in-house U.S. auto loans, giving business to Wells Fargo

Volkswagen dropping in-house U.S. auto loans, giving business to Wells Fargo https://ift.tt/mRrKbo4

Volkswagen will cease to write U.S. Audi and VW auto loans through its in-house captive finance company and instead refer that business to Wells Fargo starting in April. It will also start to refer U.S. Ducati motorcycle loans to Wells Fargo at some point.

German maker of digital price tag tech targets U.S. dealers

German maker of digital price tag tech targets U.S. dealers https://ift.tt/rE7t4yc

Digital Communication Solutions developed digital price tag tech that relies in part on artificial intelligence. Prices can be changed instantly.

Column: How to sell and service EVs? Bowman Chevy has answers

Column: How to sell and service EVs? Bowman Chevy has answers https://ift.tt/49Wb3u1

EV attitudes, training and infrastructure can make a difference at dealerships.

Leo Michael cartoon: 4-way sales stop

Leo Michael cartoon: 4-way sales stop https://ift.tt/jqQINBa

There's high drama playing out in the U.S. auto market. The question is: Will somebody flinch? 'It's a standoff right now — between consumers, dealers, automakers and lenders — to see which one is going to blink,' says Tyson Jominy of J.D. Power.

Del Grande dealerships get ahead of California turf crackdown with low-water landscaping

Del Grande dealerships get ahead of California turf crackdown with low-water landscaping https://ift.tt/GLtAuMX

When California announced a coming ban on watering ornamental turf, Del Grande Dealer Group made a plan to save water, save money and upgrade its Silicon Valley landscaping with native plants

U.S. vehicle inventory hovers below 3 million

U.S. vehicle inventory hovers below 3 million https://ift.tt/dRgnviE

New-vehicle inventory in the U.S. was at 2.91 million last month, down slightly from the previous month, Cox Automotive said.

Used-vehicle market stalls in August

Used-vehicle market stalls in August https://ift.tt/LNUhw3y

Some 1.2 million used light vehicles were sold across China in August, unchanged from a year earlier, according to the China Automobile Dealers Association.

Bowman Chevy prepares to service any EV

Bowman Chevy prepares to service any EV https://ift.tt/90bWoYk

Being ready for all possible EV fixes means regularly investing in new equipment and updating training.

Bowman Chevy embraces EVs despite industry setbacks

Bowman Chevy embraces EVs despite industry setbacks https://ift.tt/elGVERX

The Michigan dealership says staff training and culture leads to success with EVs.

Dealership service departments improve handling phone calls but issues remain, study finds

Dealership service departments improve handling phone calls but issues remain, study finds https://ift.tt/IJhWSse

Serra Automotive, Napleton Automotive Group top the latest Pied Piper Service Telephone Effectiveness study.

Vehicle shipments in China dip 3rd month in a row

Vehicle shipments in China dip 3rd month in a row https://ift.tt/EyA0xuf

China’s vehicle exports surged 25 percent to some 511,000 in August, the China Association of Automobile Manufacturers said, but vehicles shipped domestically slumped 10 percent to 1.94 million. 

 

Now an established luxury brand, Genesis is refining strategy to win loyal customers

Now an established luxury brand, Genesis is refining strategy to win loyal customers https://ift.tt/suUpyXF

Hyundai's premium brand expects more growth on strong product, new dedicated dealerships and a focus on loyalty.

U.S. new-vehicle market ‘stuck' as buyers wait for relief, sellers try to hang on to profits

U.S. new-vehicle market ‘stuck' as buyers wait for relief, sellers try to hang on to profits https://ift.tt/k47vBlN

The August selling rate was just 15.1 million, disappointing given the addition of the holiday weekend and a sign that cash-strapped consumers are waiting to make big purchases in uncertain times.

Toyota dealer gathering to focus on partnership, products, says brand head Dave Christ

Toyota dealer gathering to focus on partnership, products, says brand head Dave Christ https://ift.tt/smw0e6a

Toyota dealers will gather for their national dealer meeting in Las Vegas on Sept. 10-11 to discuss the Japanese brand's upcoming products and strategy, while dealers may want to question the brand about a spate of embarrassing recalls.

Column: Digital retailing transformation means some will lose, disappear as efficiencies grow

Column: Digital retailing transformation means some will lose, disappear as efficiencies grow https://ift.tt/yqBMNxV

St. Charles Toyota is all in on Toyota's SmartPath digital retailing system, and it's transforming the dealership's relations with outside vendors.

Sales slumps extend at Volvo, Honda

Sales slumps extend at Volvo, Honda https://ift.tt/yIZuRlG

Steep China sales falls continued in August at Volvo Car Corp. and Honda Motor Co., the first two global automakers that have divulged their sales in the market for the most recent month.

Hybrids, crossovers drive Hyundai, Kia to Aug. U.S. sales gains

Hybrids, crossovers drive Hyundai, Kia to Aug. U.S. sales gains https://ift.tt/czp9sLN

U.S. auto sales are projected to rise 7 to 8 percent last month, analysts estimated, with average transaction prices falling as inventory rises and incentives increase.

Column: Tekion, a DMS upstart, attracts the NYSE's attention

Column: Tekion, a DMS upstart, attracts the NYSE's attention https://ift.tt/YI1yR5a

Tekion's CEO has said that the company could pursue an initial public offering if certain milestones are met.

Toyota's new SmartPath F&I tool may be a ‘game changer' for dealers

Toyota's new SmartPath F&I tool may be a ‘game changer' for dealers https://ift.tt/cFgdilP

The new F&I piece joins previous sales, service components to Toyota and Lexus' digital retailing suites, enabling purchase completions online.

Column: CDK moves forward after ‘bad things happen to good companies'

Column: CDK moves forward after ‘bad things happen to good companies' https://ift.tt/jALlObE

CDK CEO Brian MacDonald outlines the company's steps to recovery after cyberattacks.