Automotive News Retail News Feed News, blogs and commentary from the leader in North American automotive news en-us Tue, 11 Dec 2018 06:00:00 EST Vroom collects $146 million in latest funding, eyes expansion with new hires Tue, 11 Dec 2018 15:24:29 EST Upstart online used-car retailer Vroom said it raised $146 million in its latest round of funding, including a previously reported $50 million from AutoNation Inc. Santa slims down for Audi Tue, 11 Dec 2018 13:22:26 EST Santa Claus takes on a modern look in a new Audi ad that shows him shedding pounds when he endures a bit of a mid-life crisis after realizing that he can't fit into an RS 5 at his current weight. Musk slams '60 Minutes' for editing comments about chairman Tue, 11 Dec 2018 14:23:04 EST Tesla CEO Elon Musk criticized '60 Minutes' for editing out parts of his responses to questions about losing the role of chairman last month. Renting a car in 30 seconds? Hertz and Clear say they can Tue, 11 Dec 2018 13:46:43 EST Hertz and Clear announced the debut of Hertz Fast Lane Powered by Clear, a service that uses biometrics to speed members through the rental car process. China car sales drop at steepest pace in nearly 7 years Tue, 11 Dec 2018 08:29:04 EST China's automobile sales fell about 14 percent in November from a year earlier. It was the steepest decline since January 2012, when the timing of the Lunar New Year holiday hurt auto sales. pressured to perform, shake up management or sell Tue, 11 Dec 2018 08:14:33 EST Starboard Value is calling on to improve its performance or consider selling itself or making management changes, about nine months after the activist hedge fund reached a settlement agreement with the online auto-dealing platform. Dealerships make strikes toward more ethical culture Mon, 10 Dec 2018 00:01:00 EST Ethical practices in automotive finance have evolved significantly in recent decades, with a boom in automotive retail regulations. Automotive News explores this evolution in this special section. Cox Automotive economist sees tax season as possible 'disaster' for car dealers Mon, 10 Dec 2018 00:01:00 EST Cox's chief economist warns dealers to be conservative on inventory next spring as changes to the tax law may significantly reduce refunds in 2019. Affordability worries put car dealers in a gloomy mood Mon, 10 Dec 2018 00:01:00 EST Price pressure, rising interest rates and a shrinking supply of affordable vehicles have auto dealers worrying more about business as they look toward 2019, according to the Cox Automotive Dealer Sentiment Index survey for the fourth quarter. Building a dealership hiring plan around good bahavior Mon, 10 Dec 2018 00:01:00 EST Many dealers leave nothing to chance with ethics. Internal training, external audits and promoting from within as often as possible are the top tactics used to prevent compliance and ethical land mines. Should FandI managers get incentives? Mon, 10 Dec 2018 00:01:00 EST When it comes to compensating for compliant behaviors, should FandI managers be incentivized? Chinese dealers aim to learn from, invest in U.S. dealership groups Mon, 10 Dec 2018 00:01:00 EST As new-vehicle sales cool in China, dealers are turning to their highly-respected U.S. counterparts to learn how to create additional revenue streams in stores while preparing for potential investments in the American market. Kia's redesigned 2020 Soul builds more variety from the same box Mon, 10 Dec 2018 00:01:00 EST While other boxy designs have come and gone #8212; Scion xB, Nissan Cube, Honda Element #8212; Kia's Soul has built longevity through loyalty. Chevy launches year-end employee pricing campaign Mon, 10 Dec 2018 00:01:00 EST Chevrolet has launched a national employee pricing sales campaign on all 2018 and some 2019 models through the end of the year. November numbers reflect surprisingly good sales year Mon, 10 Dec 2018 00:01:00 EST Heading into 2018, U.S. auto sales appeared headed for a second-straight annual decline. But it hasn't played out as expected: Sales have remained steady even as incentives were disciplined and prices rose further. 'Crazy Ivan' strategy at M.K. Smith Chevrolet gets used-car shoppers' attention Mon, 10 Dec 2018 00:01:00 EST What does a 2014 Jeep Compass Sport have in common with a Soviet submarine? Florida dealership settles robocall suit for $4.8 million Mon, 10 Dec 2018 00:01:00 EST A Florida store's $4.8 million settlement of a robocalling lawsuit is the latest wake-up call for dealers to remain vigilant about unwanted advertising messages to current and prospective customers. Volvo dealers in California revolt against subscriptions Mon, 10 Dec 2018 00:01:00 EST As Volvo prepares a new and improved version of its Care by Volvo subscroption service, California hears the grumbling of dealer protests. Set ground rules for self-promotion Mon, 10 Dec 2018 00:01:00 EST Self-promotion can erode customer trust, FandI experts caution, and dealerships should have ethical ground rules for displays of personal achievement in the office. Dealerships reconsider title of FandI manager Mon, 10 Dec 2018 00:01:00 EST Whether it's better for mitigating sales resistance from customers or preventing cash-buyer confusion, some dealerships stray from the traditional title of finance and insurance manager. Perfecting the vehicle sales-FandI handoff Mon, 10 Dec 2018 00:01:00 EST DCH Millburn Audi in New Jersey has spent the last several years perfecting the sales-to-FandI handoff. The strategy has not only improved the sales process for the customer, but also increased the store's FandI profit. One-person, one-price strategy aids dealership ethics Mon, 10 Dec 2018 00:01:00 EST The transparency of a one-person, one-price approach lends itself to a more ethical culture, said some dealers who have made the switch. FandI managers use Facebook for support Mon, 10 Dec 2018 00:01:00 EST In 2009, a Facebook group was launched to help educate FandI managers on ethics and compliance. The intention to build an online community of experts, educators and comrades was a way to reach those in need of guidance without charging a fee. Killer clown case spawned O'Loughlin's auto career Mon, 10 Dec 2018 00:01:00 EST There's always a back story. For Terry O'Loughlin, director of compliance for Reynolds and Reynolds, a case involving a killer clown led him on the path to an automotive career. In FandI, it's not the money; it's how you make it Mon, 10 Dec 2018 00:01:00 EST As new-vehicle margins continue to melt away, structuring a pay plan that rewards the FandI department but still ensures the job is done ethically and legally is one of dealers' greatest challenges, auto retail experts said. Genesis decline tied to licensing bump Sat, 8 Dec 2018 00:01:00 EST Genesis' steep sales dropoff is largely a byproduct of the brand's accelerated separation from Hyundai. The Detroit auto show's seven-year plan Fri, 7 Dec 2018 16:35:22 EST The Detroit auto show, seeking to reinvent itself following decades as a January venue, has committed to seven years with its new June date. TrueCar buys retail software company DealerScience for $27 million Fri, 7 Dec 2018 17:49:56 EST Vehicle-shopping site TrueCar has acquired DealerScience, a provider of digital-retailing software, for $27 million, the companies said Friday. DealerScience's founder will also join TrueCar's executive team effective immediately. Why Chevy is launching another employee pricing campaign Fri, 7 Dec 2018 16:11:11 EST Chevrolet has launched a national employee pricing sales campaign on all 2018 and some 2019 models through the end of the year. Why the FTC is sending $3.5 million to Sage Auto Group customers Thu, 6 Dec 2018 15:05:34 EST The Federal Trade Commission said it will mail out 43,456 checks totaling more than $3.5 million for customers that fell prey to Sage Auto Group's deceptive practices from 2014 to 2016. Subprime auto lending hits 11-year low Thu, 6 Dec 2018 13:47:29 EST Despite an increase in subprime loan volume in the third quarter, subprime market share hit its lowest level in more than a decade, according to Experian. Toyota's Lentz still bullish, but concerned about 'crazy' trade implications Wed, 5 Dec 2018 16:24:54 EST While Toyota remains "very, very bullish" on the overall market, Jim Lentz said "some crazy" potential implications from trade and U.S. Black Friday spurs short-term interest rate decline Wed, 5 Dec 2018 11:29:55 EST The resurgence of 0 percent financing for Black Friday deals pulled down the average interest rate on new-vehicle loans from the month earlier, but rates still grew year over year and will likely continue to rise. UK sales fall 3% in Nov. on Brexit, diesel uncertainty Wed, 5 Dec 2018 10:15:57 EST Volvo, Dacia, Seat and Toyota had a good month in a UK market whose overall sales fell 3 percent. Audi, Nissan, Hyundai and Ford suffered steep sales declines. Jaguar Land Rover weakness drives owner Tata Motors deeper into junk rating Wed, 5 Dec 2018 06:45:00 EST SandP Global Ratings lowered the credit rating of Tata Motors and its Jaguar Land Rover unit deeper into junk, citing weaker-than-expected profitability at JLR. VW Group gets big WLTP hit as German sales fall 10% Wed, 5 Dec 2018 04:59:21 EST German sales fell 10 percent in November as automakers, including VW Group's Porsche and Audi brands, continue to adapt to the new WLTP emissions testing regime. Still absorbing WLTP change, Italy sales fall 6% Wed, 5 Dec 2018 00:01:00 EST Registrations in Italy declined 6 percent in November, according to figures published by the nation's Ministry of Infrastructure and Transport. JLR weakness drives owner Tata Motors' deeper into junk-rating Wed, 5 Dec 2018 03:33:59 EST SandP Global Ratings lowered the credit rating of Tata Motors and its Jaguar Land Rover unit deeper into junk, citing weaker-than-expected profitability at JLR. Interest rate hikes hurting car sales, Canadian economy Wed, 5 Dec 2018 00:01:00 EST Plunging automobile sales add to evidence that higher borrowing costs are beginning to eat into Canadian economic growth, possibly faster than the central bank expected. Why California auto dealers are taking on Volvo Tue, 4 Dec 2018 12:36:18 EST The California New Car Dealers Association asked Volvo to stop its Care by Volvo subscription service after a review found what the association believes to be violations of California franchise laws. Fiat Chrysler lays off Italian workers building Maserati SUV Tue, 4 Dec 2018 06:45:00 EST Fiat Chrysler will partially lay off more than half the workforce at its underused Mirafiori plant in Turin as it retools the factory to build EVs. Fiat Chrysler lays off Italian workers building Maserati SUV Tue, 4 Dec 2018 05:38:45 EST Fiat Chrysler will partially lay off more than half the workforce at its under-used Mirafiori plant in Turin, as it retools the factory to build EVs. Lithium, cobalt costs hinder battery-powered car sales, HSBC says Tue, 4 Dec 2018 09:36:41 EST "High lithium and cobalt prices #8212; but also limited supply and lower demand for pure EVs #8212; now favor more plug-in hybrids in the short to medium term vs. our previous expectation," analysts said. Big lithium riches await in Bolivia #8212; the challenge is extracting them Tue, 4 Dec 2018 09:20:07 EST Bumpy dirt roads, thin air at high altitude, the ordeal of bringing labor into a blinding white salt flat #8212; all of this stands between anyone who dreams of retrieving Bolivia's lithium and turning it into electric car batteries. First Shift: Nov. U.S. sales winners, losers Tue, 4 Dec 2018 08:00:00 EST Nov. U.S. sales winners, losers; GM begins contract-worker layoffs; UAW protests plant cuts; Barra, senators to meet; Another Ghosn arrest?; Toyota seeks to solve hybrid puzzle. GM moves to challenge Ford in U.S. commercial fleet sales Tue, 4 Dec 2018 08:21:36 EST General Motors is intensifying its attack on Ford's lead in sales to U.S. commercial fleets to prop up profit margins amid weakening consumer demand. Spanish sales fall 13% as diesel woes continue Tue, 4 Dec 2018 04:35:54 EST Dealers blamed the "negative" climate sorrounding cars for a 13 percent fall in Spanish registrations in November as consumers worriy about the threat of diesel bans and even a complete ban on internal combustion engine vehicles in the future. November U.S. light vehicle sales down on weak car volume Mon, 3 Dec 2018 08:30:00 EST U.S. light-vehicle sales slipped 0.5 percent in November as robust fleet shipments by some automakers failed to offset slumping demand for passenger cars. Affordable cars disappearing from American landscape Mon, 3 Dec 2018 00:01:00 EST As new-vehicle prices and interest rates continue to rise, affordable cars continue to disappear from the American landscape. French sales fall nearly 5% in Nov. following pre-WLTP selloff Mon, 3 Dec 2018 05:56:00 EST New-car registrations in France declined by 4.7 percent in November, as the market continued a slowdown following summer sales increases driven by incentives to sell cars that were not yet homologated under the new WLTP type-certification tests. VW: Audi drops 11% while VW brand slides 8% Mon, 3 Dec 2018 18:03:25 EST Volkswagen sales slid 8.3 percent in November to 26,789, despite record Tiguan sales. Audi sales fell 11%, their second consecutive month of decline. Mercedes holds its lead over BMW in U.S. luxury race Mon, 3 Dec 2018 18:09:22 EST Despite an anemic 0.6 percent increase in November U.S. sales, Mercedes-Benz remained No. 1 among luxury brands last month. CANADA: Detroit 3 drag November sales down 8.2% Mon, 3 Dec 2018 13:49:02 EST Each of the Detroit-based automakers suffered double-digit sales declines. FCA was down 35.2 percent. GM was down 18.3 percent while Ford fell 10.7 percent. Nissan and Toyota had record months. Lincoln is the only bright spot in Ford's November sales report Mon, 3 Dec 2018 13:31:48 EST Except for gains at Lincoln, Ford's November sales dropped in nearly every measurable category. Why Hyundai-Kia got a slight boost in November Mon, 3 Dec 2018 16:18:14 EST Hyundai-Kia's combined U.S. sales edged up 1.1 percent in November as Hyundai's crossover momentum continued to build. Lincoln: No change to anti-dualing policy despite Calif. dealer backlash Mon, 3 Dec 2018 16:23:57 EST Lincoln says building standalone luxury showrooms is vital to its growth; California dealer group says it's financially harmful. AutoNews Now: Nissan, Honda, Ford sales drop as cars get clobbered Mon, 3 Dec 2018 15:00:00 EST Nissan, Honda, Ford sales drop as cars get clobbered; fleet lifts FCA; VW, Mitsu dealer-outreach push; Nissan's 'important concepts' for Detroit show; NHTSA official joins Uber. Why Nissan sales fell across-the-board in November Mon, 3 Dec 2018 15:28:48 EST Nissan North America had a chilly November, with U.S. sales tumbling across the board, even in the typically resilient light-truck segment. Ram and Jeep lead the way for FCA in November Mon, 3 Dec 2018 11:58:34 EST U.S. sales for FCA US rose 17 percent in November to 181,310 vehicles, a gain largely driven by fleet transactions. TOYOTA: Car slump overshadows record-high November light-truck sales Mon, 3 Dec 2018 11:36:17 EST Toyota posted a 0.6 percent decline in November from the year-earlier month to 190,423 vehicles, despite record-high November light-truck sales. HONDA NOVEMBER SALES: Accord, Acura RDX rises not enough to offset slumping sales Mon, 3 Dec 2018 11:51:33 EST The Acura RDX continued to post record sales results for American Honda in November, but it was not enough to offset declines for higher-volume vehicles such as the Honda Civic and Pilot. How to survive the era of the self-driving vehicle Mon, 3 Dec 2018 00:01:00 EST For the next decade or two, the shift toward self-driving vehicles is likely to be incremental. But at some point, fully autonomous vehicles will be safe, reliable and readily available. Building a dealership on customer service Mon, 3 Dec 2018 00:01:00 EST For Corina Diehl, becoming a dealer was trial by fire after her husband's unexpected death in 2007. In an interview, she reflects on stair-step incentives, the current state of the dealership franchise system, facing sexism and more. Hyundai gears up for another Super Bowl run Mon, 3 Dec 2018 08:00:00 EST Hyundai will keep its Super Bowl ad run going in 2019, making it the eleventh time in the past 12 years that the brand has advertised during the game. Keogh starts VW job with dealer face time Mon, 3 Dec 2018 00:01:00 EST Just a month into his new role as CEO of Volkswagen Group of America, Scott Keogh isn't yet ready to lay out a comprehensive plan to fix what ails the German automaker's operations in the U.S. Maybe by January, Keogh says. Lincoln backs off 2020 target amid U.S.-China trade war Mon, 3 Dec 2018 00:01:00 EST Lincoln Motor Co. President Joy Falotico told Automotive News last week the company is no longer projecting a sales goal of 300,000 by the end of the decade, amid uncertainties created by the U.S,.-China trade war. Fitzgerald Auto Malls uses ISO benchmark to improve processes Mon, 3 Dec 2018 00:01:00 EST In the minds of customers and employees at Fitzgerald Auto Malls, the FitzWay is shorthand for the company's detailed quality policy, painstakingly developed more than 14 years ago. Former Intel head looks to grow and transform CDK's work Mon, 3 Dec 2018 00:01:00 EST Self-proclaimed car guy Brian Krzanich has big plans for CDK, including more interaction with the car buyer and a bigger push into the industry's transition to autonomous driving. Where is demand for autonomous vehicles? Mon, 3 Dec 2018 00:01:00 EST Billions of dollars are being spent on autonomoous vehicle technology, but where is the consumer demand? Toyota to promote redesigned RAV4 in Super Bowl ad Sun, 2 Dec 2018 00:01:00 EST Toyota's RAV4, already the best-selling nonpickup in the nation, will get a big marketing push with a Super Bowl ad in February. Lexus willing to wait on subscriptions Sat, 1 Dec 2018 00:01:00 EST Lexus is in no rush to embrace a vehicle subscription program at the brand level, but it sees the all-inclusive short-team lease as a format that could be expanded to other models in the lineup. Survey eases fears of pickup cannibalization Sat, 1 Dec 2018 00:01:00 EST If car or crossover owners are willing to dip a toe into the midsize pickup segment, while full-size pickup buyers remain where they are, that would be a recipe for greater profitability across the board. Kia will return to Super Bowl for 10th straight year Sat, 1 Dec 2018 10:20:25 EST Kia will extend its Super Bowl ad streak to 10 years. The ad will be handled by U.S. agency-of-record David and Goliath, but the automaker declined to confirm other details. November U.S. auto sales expected to dip as market cools Fri, 30 Nov 2018 11:00:01 EST A forecasted 2 percent drop in U.S. sales would keep the SAAR above 17 million. As the headwinds get stronger, transaction prices continue to rise and incentive spending remains disciplined. Nissan has long been seen as a success story in Europe Thu, 29 Nov 2018 00:01:00 EST Nissan's ousting of Carlos Ghosn for alleged financial irregularities has been seen as a bid by the automaker to prevent a merger with Renault. The drama highlights the fact that Europe is not a happy place for the company right now. Daimler on track to meet quota for greener vehicles in China Thu, 29 Nov 2018 05:13:31 EST Daimler is on track to meet the quota for new-energy vehicles in China. The automaker will start production of the electric Mercedes EQC SUV next year in a bid to meet Beijing's stringent anti-pollution targets for automakers. Dealership group owned by ex-NFL players turns over vehicles to Nissan finance arm Thu, 29 Nov 2018 13:19:41 EST An ailing dealership group owned by two former NFL players and an auto industry veteran has agreed to turn over vehicle collateral to Nissan Motor Acceptance from three of its now-closed stores. 2 men sentenced in fraudulent scheme to steal from 6 N.Y. dealerships Thu, 29 Nov 2018 12:54:45 EST Two New York City men were sentenced last week to prison and are each ordered to pay restitution for their involvement in a fraudulent scheme to steal vehicles from six dealerships in Westchester, N.Y. Honda drops diesels in Europe in electric push Wed, 28 Nov 2018 00:01:00 EST Honda is axing its diesel cars in Europe as it adds full-electric and hybrid powertrains in a green technology push. Lincoln backs off 2020 sales target amid Trump trade war with China Wed, 28 Nov 2018 21:00:03 EST Lincoln President Joy Falotico said the brand is backing off the target, established under former CEO Mark Fields in 2014, after the cost to export U.S.-built vehicles to China rose. BMW's latest marketing stunt comes to L.A. Wed, 28 Nov 2018 13:15:36 EST To promote its American-made X5 crossover, BMW filmed a road trip from the car's birthplace in its Spartanburg, S.C., plant directly to a stage at this week's L.A. auto show. KAR agrees to buy European online auction service for $176 million Wed, 28 Nov 2018 14:47:09 EST KAR Auction Services said it agreed to buy Belgium-based online auction company CarsOnTheWeb for about $176 million. Cox Automotive names Sid Nair to new chief sales officer position Tue, 27 Nov 2018 07:27:57 EST Sid Nair, from IT services company DXC Technology, will take over the responsibilities of the departing Raj Sundaram, executive vice president and chief client success officer. French reacts to Ghosn scandal with surprise, anger and damage control Tue, 27 Nov 2018 05:42:26 EST Renault said it is beginning its own internal audit to examine Chairman Carlos Ghosn's compensation in the wake of the scandal leading to his ouster at Nissan and Mitsubishi over the past week. Renault plans internal audit of Ghosn's compensation Tue, 27 Nov 2018 05:42:26 EST The reaction in France to Carlos Ghosn's arrest over alleged financial misconduct at Nissan can be summed up in two words: It's complicated. Aston Martin aims to more than double production by 2025 Tue, 27 Nov 2018 06:53:02 EST Aston Martin aims to more than double the number of cars it makes by 2025 to 14,000 cars, CEO Andy Palmer said. VW boosts digital marketing in efficiency drive Tue, 27 Nov 2018 04:55:38 EST VW brand will increase digital marketing spending to 50 percent of its media mix from 25 percent and reduce the number of its global advertising agencies to three from 40. Borgward plans SUV sales in the UK, Ireland next year Tue, 27 Nov 2018 00:01:00 EST Borgward will begin sales of its SUVs in the UK and Ireland at the end of next year, the brand's new importer has said. How the Kia customer stole Christmas Mon, 26 Nov 2018 00:01:00 EST Police say the Grinch who stole Christmas lights, a flat-screen TV and expensive coolers from a Florida dealership showroom this month turned out to be a man who had recently bought a vehicle at the store and decided to go back for more. VW awards North American creative ad work to WPP Mon, 26 Nov 2018 12:49:46 EST Advertising agency giant WPP has won Volkswagen's creative account in North America, following a seven-month global agency review.