A survey of nearly 3,000 U.S. consumers conducted by TransUnion reveals that those affected financially by COVID-19 closures were about twice as likely to default on a mortgage than an auto payment, sticking to previous trends of ranking transportation needs above other credit products.
Italy is joining Germany and France in allowing dealerships to resume car sales after they were closed because of measures to restrict the spread of the coronavirus.
Marc Cannon adds technology oversight to his responsibilities at the largest U.S. dealership group. He will continue to lead brand, advertising, marketing, e-commerce, customer relations and communications.
Hal "Tex" Earnhardt Jr. turned his first dealership, a Ford store, into a 21-dealership group in Arizona and Nevada. He died April 19.
Now is the time to build inventory, dealers are told, but retail traffic has been light or nonexistent.
The owner of the suburban Chicago FCA store says he never saw the envelopes before a marketing firm sent them out and was just as upset as the recipients who complained they were tricked by the official-looking mailer.
Hyundai has secured emergency financing for both itself and its dealers to help weather the pandemic disruption.
Video conferencing will be part of routine business practices for auto retailers when the coronavirus is over, writes an Automotive News reader in a letter to the editor.
U.S. auto sales are unquestionably ugly -- and probably will be for a while -- but they appear to be getting better, not worse. J.D. Power believes a recovery already has started.
A strong balance sheet, low debt and a stockpile of cash could put the retailer on the prowl for acquisitions this fall.
The coronavirus pandemic and its aftermath are times for dealers and lenders to work together to manage liquidity.
Napoli Kia is asking $750,000 for the first-ever Banshee coupe, a two-seater designed by John DeLorean in 1964 as an answer to the Ford Mustang.
Suntrup Automotive Group in St. Louis is offering customers who buy a used vehicle three months of no payments during the coronavirus outbreak.
Island Auto Group is among a number of dealerships across the country providing essential workers vehicles during the pandemic. It's one of many ways dealers are stepping up to help their communities.
Masks, gloves, sprays, wipes, hand sanitizers, single-use pens and spacing markers for social distancing are becoming the norm at the largest U.S. dealership group.
The two leading used-vehicle trendsetters were already focused on digital sales, and now they have been forced to adapt to a pandemic.
Many auto industry and federal officials say economic incentives or government programs encouraging consumers to buy vehicles again will be needed down the road.
The measure includes $320 billion to make new loans under the Paycheck Protection Program for small businesses, which ran out of money last week. Groups representing auto dealers pressed lawmakers to allocate more funds for the program.
The final bill includes $320 billion to make new loans under the Paycheck Protection Program for small businesses, which ran out of money last week. Groups representing auto dealers pressed Congress to allocate more funds for the program.
The Volvo electric vehicle startup's first volume model, the Polestar 2, is priced $3,000 less than planned.
As Americans take precautions by distancing from other humans and avoiding anything they might have touched, buying a car could appeal to some people who otherwise wouldn't have considered one.
Automakers are headed for a less-drastic U.S. sales collapse than feared, helped by online sales, 0 percent financing and other incentives, according to data released Wednesday.
The Federal Trade Commission's guidance on remote sales, known as could apply to vehicle sales under certain circumstances, and dealerships should consult a legal expert to ensure their remote sales aren't implicated.
The nation's third-largest dealership group said it experienced growth across its major business lines before the coronavirus pandemic, which forced some showroom closures and slowed sales across the U.S.
The Coronavirus Aid, Relief and Economic Security Act adds some wrinkles to how auto lenders should approach different consumer circumstances in light of the viral outbreak.
CDK Global's former digital marketing business has been renamed Sincro, and all former CDK digital marketing customers have been transferred to Ansira.
The executive change comes nine days after CEO and President Cheryl Miller was granted medical leave. Executive Chairman Mike Jackson said he expects to serve as CEO of the dealership group for several months while Miller is on leave.
Asbury couldn't put off the purchase because of an April 30 deadline attached to the financing the retailer arranged for the transaction. Once the coronavirus outbreak halted auto sales and shuttered stores across the country, executives knew the deal wouldn't survive.
Pennsylvania follows other states, including Michigan, that have loosened restrictions on auto sales following initial stay-at-home orders that prevented them.
VW brand's chief operating officer, Ralf Brandstatter, said the program could be geared toward cars with low emissions.
Mike Kelly, a Republican congressman and auto dealer, discusses his experience with COVID-19 and how dealers can navigate the current economic and public health crisis.
Annette Sykora, who was chairman of the National Automobile Dealers Association in 2008, has been able to apply knowledge gained both from the trade group and her own store's experience to the current crisis.
Dealers are going beyond their immediate concerns about sales and cost-cutting to help their workers and the community.
Tammy Darvish, president of AutoCanada's U.S. operations, recalls the hostility toward franchised dealers in the Great Recession and says attitudes are different in this crisis.
Dealers have seen retail used-vehicle sales slow to a crawl and wholesale values drop by double-digit percentages. Some wonder whether used vehicles can be accurately valued amid such turmoil.
Dealers featured this week include Alan Pflueger, dealer principal of Pacific Honda in Honolulu; Robert Green, dealer principal of Gale Toyota in Enfield, Conn.; Bill Sowles, owner of Morong Falmouth Volkswagen in Maine; and David Stone, dealer principal of Merle Stone Chevrolet Porterville in California.
Detroit dealership owner-operator Karl Zimmermann credits his store's culture and communication for helping navigate the coronavirus pandemic.
Stay-home orders that have restricted auto sales in certain states also have closed some government offices that process vehicle paperwork.
Last year was strong for used-vehicle sales, and until March, many retailers anticipated an even better 2020.
The prolonged economic pain felt in the last recession yielded lessons that are applicable to the quick, sharp cuts that the coronavirus pandemic has made, says Aaron Zeigler, president of Zeigler Auto Group.
Though business is far from normal, fixed ops directors and dealers have relied on creativity, caution and courage as they help fleet customers and others keep vehicles on the road.
Ride-hail drivers log hundreds of miles on the road per week. That means quicker-than-usual oil changes, tire rotations, scheduled maintenance and parts in need of repair or replacement.
"A full-time ride-share driver will easily put 1,000 miles a week on their car, which means a lot of maintenance is accelerated" says Harry Campbell, founder of industry website TheRideShareGuy.com.
Despite this, most dealership service departments have shied away from Uber and Lyft drivers. The hesitation to court ride-hail drivers may be due to unfamiliarity with ride-hail drivers' needs and older paradigms of how and when service departments operate, Campbell says. But their business is out there to capture, and — perhaps more importantly — the ride-hail companies want it.
Federal-Mogul Motorparts settled a Federal Trade Commission administrative complaint that alleged it made unfounded claims that its aftermarket Wagner OEX brake pads could stop a vehicle in a shorter distance than its competitors' brake pads.
Some dealership fixed operations departments are taking drastic steps to keep customers and their employees safe.
Express-service kiosks that allow customers to check in and out of service departments on their own schedule largely have been a novelty offered by a small number of dealerships. But that is likely to change quickly as major suppliers of the machines and vehicle manufacturers gear up for expansion.
