While vehicle affordability and portfolio management remain important in today's lending environment, auto lenders point to robust consumer confidence and stable vehicle sales.
Electronic contracting remains a much-hyped but elusive technology intended to speed up and simplify the funding of auto deals. Cox Automotive's Dealertrack believes it has the software to close some missing links in the process.
Auto lenders, alongside other financial services providers, should notify customers when suspicious activity appears on a credit profile. Allowing customers to confirm transactions also goes a long way to assure them their credit profile is secure.
California auto dealerships have been affected by the fires and fire-prevention measures, such as the decision by private electricity providers to cut energy to millions of customers in areas at high risk related to heat and wind.
The dealership group took a $10 million hit tied to the brief tenure of its former CEO. Revenue from new-vehicle sales slipped while increasing in other departments.
Net income from continuing operations for the nation's second-largest new-vehicle retailer fell 11 percent to $116.1 million in the third quarter.
Lee, a Hyundai veteran with experience in the U.S. and Brazil, steps into the role at a critical time for Genesis as it builds out its U.S. sales network and embarks on the important rollout of the brand's first crossovers.
U.S. pricing of the Cooper SE electric vehicle will make "premium electric mobility more accessible to a broader range of customers," Mini of the Americas Vice President Michael Peyton said in a statement.
Part of the reason for the sale of used-vehicle subscription startup Canvas is the subscription model itself, which is capital-intensive and asset-heavy with razor-thin margins.
CarGurus is looking to expand beyond its roots as a third-party vehicle listings marketplace into dealer software.
The dealer featured this week is Mark Hummel, dealer principal of Hummel’s Nissan in Des Moines, Iowa.
GM ended its exclusivity deal with software giant CDK Global Inc. to host dealers' websites, giving dealers the option to contract with one of four providers -- CDK, Dealer Inspire, Dealer.com and Dealer On -- starting in 2020.
As new-car sales cool, an emphasis on controlling costs and a continuing focus on fixed operations and used-vehicle sales could help reverse last year's operating loss.
Colonial Toyota in Milford, Conn., made the switch this spring and has already witnessed a considerable sales boost. They are optimistic about customer response in the winter.
After another abnormal summer, used-vehicle values appear to be returning to normal.
Roger Penske, racing icon, businessman and automotive retail leader, joined a dozen other individuals who President Trump has bestowed with the nation's top civilian honor.
Sonic Automotive's third-quarter earnings were propelled by record used-vehicle sales, growth at its EchoPark standalone used-vehicle stores, and record finance and insurance results.
New vehicle inventories remained well above the normal range in September at dealerships for Chinese brands and mass-market global marques as the overall market downturn continued.
Third-quarter revenue reached a record high for the Medford, Ore., auto retailer.
The automaker was hit by $1 billion in special charges and cited anticipated higher warranty and incentive costs for its revised full-year profit forecast.
Hinrich Woebcken, a former BMW executive who led Volkswagen Group's North American operations until last year, is also an investor in the startup retail and financial technology platform.
While some features added to new vehicles improve safety and value, dealer leaders say gratuitous add-ons are contributing to a growing concern about affordability.
Growth in income from finance and insurance and service and parts compensated for the drop in new-vehicle sales and profits, which was attributed to a cutback in automaker incentive money.
CEO Duke Hale said the company plans to have agreements signed in 250 markets before its sales launch. Eventually, it expects to have about 325 locations.
While other auto companies are pulling back on their car-sharing services, Penske Corp. has launched a new program, Penske Dash.
CEO Duke Hale said the company plans to have agreements signed in 250 markets prior to its sales launch. Eventually, it expects to have about 325 total locations.
Rather than help the third-quarter earnings results Ford delivers this week, the Explorer will be a hindrance. Sales have plunged as a plant plagued by personnel problems has struggled to get the new utility vehicle out the door.
After reporting racial discrimination, a former sales manager says his commission was reduced and he was later fired.
Dealers surveyed by Kerrigan Advisors have high expectations for brands such as Subaru and are less bullish on franchises such as Nissan.
Dealers should not stand back and watch Cox Automotive undermine their businesses, writes an Automotive News reader in a letter to the editor.
The revision to California's franchise law adds definition to a reimbursement rate for recalls and warranties that previously was based on a vague "reasonableness" standard.
Using a resuable filter to help cut oil service costs could help dealerships attract fleet maintenance work.
Dealerships in Pennsylvania that do warranty work can contractually negotiate with automakers to get more favorable labor reimbursement rates than those required by state law, the Pennsylvania Supreme Court ruled.
As demands for service increases, limited shop capacity is a growing problem for many new-vehicle dealerships.
A service visit gives a dealership an opportunity to inform the customer of the trade-in value of his or her vehicle. But a new survey suggests that most dealerships aren't taking advantage of that prospect.
As more customers demand that businesses deliver services and products to their home or workplace, dealerships and automakers are taking their first steps to get technicians out of the shop.
An historic look at West Park Chevrolet in Cleveland.
CarMax Inc. plans to hire more than 850 service technicians and detailers, the largest such hiring effort by the used-vehicle retailer in its 26-year history.
When a customer visits a dealership's express service center for an oil change, time is crucial.
Nearly a decade after he launched a hotline for service customers' emergencies, a dealership executive continues to staff it 24/7 -- personally.
Two of every three service visits are to independent shops, quick-lube chain stores, tire dealers and other competitors. Dealers are looking for new opportunites to cut into their share of the market.
Although chain and independent body shops dominate the market, some dealers continue to find big profits in collision repair.
