CDK's Q3 revenue climbs on improved dealer retention

The company grew its dealer sites for the first time in 10 quarters.

source https://www.autonews.com/dealers/cdks-q3-revenue-climbs-improved-dealer-retention

How Carvana restored my faith in online vehicle retailing

I don't love the current processes of buying and selling vehicles. Few people do. But online retailers such as Carvana are bringing more transparency to the process.

source https://www.autonews.com/blogs/how-carvana-restored-my-faith-online-vehicle-retailing

Mercedes to end Smart sales in U.S., Canada

Mercedes-Benz blamed a "declining micro-car market" in the U.S. and Canada, combined with high homologation costs.

source https://www.autonews.com/retail/mercedes-end-smart-sales-us-canada

Infiniti shores up struggling QX50

When the redesigned Infiniti QX50 compact crossover launched last spring, executives heralded it as the brand's most important product since the original Q45 luxury sedan three decades ago. Reality has not met expectations.

source https://www.autonews.com/cars-concepts/infiniti-shores-struggling-qx50

Dealers get a win in Colorado EV battle

Dealers helped defeat legislation that would have allowed for direct sales of electric vehicles by manufacturers.

source https://www.autonews.com/dealers/dealers-get-win-colorado-ev-battle

Near-record inventories pinch dealers

Bulging inventories, combined with rising floorplan interest rates, are sapping whatever was left of dealers' new-vehicle margins and threaten to unravel the industry's hard-fought pricing discipline.

source https://www.autonews.com/sales/near-record-inventories-pinch-dealers

Dealer anniversaries

Dealers featured this week include Paul Devers, dealer principal, and Tom Devers, partner, of Vin Devers Autohaus of Sylvania, a Mercedes-Benz and Audi dealership in Ohio; Carl Swope, dealer principal of Swope Toyota in Elizabethtown, Ky.; Wanda Cronic Howell, dealer principal of Cronic Nissan in Griffin, Ga.; and Tim Galvin, dealer principal of Miracle Chrysler-Dodge-Jeep-Ram in Gallatin, Tenn.

source https://www.autonews.com/dealers/dealer-anniversaries-15

Mexico dealers clamoring for Lexus get their wish

Top Toyota executives traveled to Mexico City to break the big news to its 67 Mexican dealers, some of whom are likely to submit proposals to be among the first batch of newly minted Lexus dealers.

source https://www.autonews.com/dealers/mexico-dealers-clamoring-lexus-get-their-wish

Infiniti shores up its struggling QX50

When the redesigned Infiniti QX50 compact crossover launched last spring, executives heralded it as the brand's most important product since the original Q45 luxury sedan three decades ago. Reality has not met expectations.

source https://www.autonews.com/cars-concepts/infiniti-shores-its-struggling-qx50

Positive vibes drive sales increase, Fla. dealer says

A Florida dealership's staff meetings focus not on sales strategies but on anything that could be hindering their relationships with others at work and home. That approach may be why Bozard Ford-Lincoln's sales figures are on a big upswing.

source https://www.autonews.com/best-practices/positive-vibes-drive-sales-increase-fla-dealer-says

AutoNation's new boss: No COO 'until I learn this business'

Carl Liebert, who in March replaced longtime AutoNation CEO Mike Jackson, doesn't want to put anyone between him and his top executives.

source https://www.autonews.com/dealers/autonations-new-boss-no-coo-until-i-learn-business

VW will have a pickup strategy, and it may be to go where others aren't

The German brand thinks there would be demand for its small pickup in the U.S., but it hasn't decided exactly what that means.

source https://www.autonews.com/marketing/vw-will-have-pickup-strategy-and-it-may-be-go-where-others-arent

VW will have a strategy, and it may be to go where others aren't

The German brand thinks there would be demand for its small pickup in the U.S., but it hasn't decided exactly what that means.

source https://www.autonews.com/marketing/vw-will-have-strategy-and-it-may-be-go-where-others-arent

Direct-sales bill for EVs defeated in Colo.

A bill that would have allowed EV makers such as Rivian to bypass the franchised dealer network and sell directly to the public was given the thumbs down by Colorado legislators .

source https://www.autonews.com/dealers/direct-sales-bill-evs-defeated-colo

Dealers defeat EV direct-sales bill in Colo.

A bill that would have allowed EV makers such as Rivian to bypass the franchised dealer network and sell directly to the public was given the thumbs down by Colorado legislators .

source https://www.autonews.com/dealers/dealers-defeat-ev-direct-sales-bill-colo

AutoNation's profit slips as per-car margins rise

Net income at the biggest U.S. dealership group was dragged down by a sharp drop in auto sales, while an effort to focus on new-vehicle margins showed signs of paying off.

source https://www.autonews.com/dealers/autonations-profit-slips-car-margins-rise

Group 1 posts record Q1 profit on used cars, parts and service

Strong used-vehicle sales and a growing parts-and-service business helped lead Group 1 to record profit in the first quarter despite a dip in revenue as new-vehicle sales tumbled.

source https://www.autonews.com/dealers/group-1-posts-record-q1-profit-used-cars-parts-and-service

Penske Automotive's Q1 net income falls 8%

Net income for the nation's second-largest dealership group fell 8 percent to $99.2 million. Penske Automotive said revenue fell 3.2 percent to $5.56 billion.

source https://www.autonews.com/dealers/penske-automotives-q1-net-income-falls-8

Dealers, spread the word about online tools

As consumers grow to expect a car-buying process similar to other digital buying experiences, dealers need to promote online tools to negotiate vehicle purchase or lease prices, and select F&I products, when they become available.

source https://www.autonews.com/fi-blog/dealers-spread-word-about-online-tools

Dealers should spread the word about online tools

Dealers should spread the word when online tools are available on their websites.

source https://www.autonews.com/fi-blog/dealers-should-spread-word-about-online-tools

Off-lease vehicles present opportunity for Ally Financial

As the auto retail industry braces for a record wave of returning off-lease vehicles in 2019, Ally Financial executives say the company is more than prepared. Lease returns are expected to eclipse 4 million units this year, according to Edmunds and Cox Automotive, and Ally CEO Jeff Brown says the lender's flexible business strategy and diverse auto portfolio positions the company well.

source https://www.autonews.com/finance-insurance/lease-vehicles-present-opportunity-ally-financial

Honda store settles with Pa. attorney general over ?valueless? F&I product

An investigation by the Pennsylvania Bureau of Consumer Protection revealed that Faulkner Honda in Harrisburg allegedly marketed, negotiated and sold warranty products that provided no value to customers, the state's attorney general's office said. The store agreed to pay $10,000 in fines plus restitution to customers, who paid an average of $1,000 for the products.

source https://www.autonews.com/finance-insurance/honda-store-settles-pa-attorney-general-over-valueless-fi-product

Compliance quizzes keep sales, F&I teams informed and in line

Compliance quizzes — one designed for sales employees and another for those working in the F&I office — are allowing one Colorado dealership group to gauge compliance knowledge and stay on top of trends. The quizzes spur one-on-one training and help identify potential problem areas.

source https://www.autonews.com/finance-insurance/compliance-quizzes-keep-sales-fi-teams-informed-and-line

Tesla says it'll offer lower-priced Model S, Model X

Tesla said it is reintroducing standard models of the Model S and Model X that have shorter driving ranges than other versions.

source https://www.autonews.com/retail/tesla-says-itll-offer-lower-priced-model-s-model-x

Hyundai returns to earnings growth as U.S. sales offset China slump

Hyundai increased its profit for the first time in six quarters, helped by strong demand for SUVs and decreasing incentive spending in the U.S.

source https://www.autonews.com/automakers-suppliers/hyundai-returns-earnings-growth-us-sales-offset-china-slump

Asbury's Q1 net income rises despite lower new-car margins

Gains in parts and service, used-vehicle sales and F&I income boosted Asbury Automotive's net income in the first quarter despite several tough headwinds. 

source https://www.autonews.com/dealers/asburys-q1-net-income-rises-despite-lower-new-car-margins

Cadillac plans to add nearly 200 dealers in China

Cadillac plans to continue strong growth in China by adding new products and significantly expanding its dealership network in the country.

source https://www.autonews.com/dealers/cadillac-plans-add-nearly-200-dealers-china

Cadillac plans growing dealers to 500 in China

Cadillac plans to continue strong growth in China by adding new products and significantly expanding its dealership network in the country.

source https://www.autonews.com/dealers/cadillac-plans-growing-dealers-500-china

Strong ratio of used to new sales pays off

Mullinax Automotive, the biggest retailer of Ford-brand certified pre-owned vehicles in the country, is honing its sales strategies and leveraging CPO programs to shine in used-to-new ratio for vehicle sales.

source https://www.autonews.com/used-cars/strong-ratio-used-new-sales-pays

U.S. ultimatum to Chrysler was not coercion, Rattner testifies

The former head of the White House's auto rescue task force says the government was Chrysler's savior, not its boss.

source https://www.autonews.com/dealers/us-ultimatum-chrysler-was-not-coercion-rattner-testifies

Penske to add more used-only stores

Penske Automotive Group Inc. is bullish on its used-vehicle supercenters' business and will add four locations this year. The company said its profitable model helps diversify its business but also differs from competitors.

source https://www.autonews.com/used-cars/penske-add-more-used-only-stores