Retail

In Russia, all are losing, but none are leaving

12:01 am U.S. ET | Dec. 21, 2014
Despite suffering heavy losses in Russia's sinking economy, global automakers say they still expect a long-term payoff from their huge investments there.... Read More »

 

JIM HENRY

Free of U.S. ownership, Ally expects cheaper funds, maybe more subprime deals

3:13 pm U.S. ET | Dec. 19, 2014
Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it.... Read More »

 

Nissan tops 100,000 sales in Canada for first time, gains market share

2:02 pm U.S. ET | Dec. 19, 2014
Nissan said its sales in Canada have reached a record-breaking 100,000 new vehicles this year.... Read More »

 

CarMax says Q3 net income rose 22% to $130 million

9:14 am U.S. ET | Dec. 19, 2014
CarMax, the largest used-car seller in the United States, said net income surged 22 percent in its third fiscal quarter as easier credit boosted vehicle sales.... Read More »

 

Ghosn says ruble plunge a 'bloodbath' for automakers

Dec. 19, 2014 10:04 CET
The ruble's plunge is creating a "bloodbath" for automakers in Russia, Renault-Nissan CEO Carlos Ghosn said. Nissan and Renault have stopped taking orders for some cars in Russia and could raise prices on others if the ruble continues to fall, he said.... Read More »

 

Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment.... Read More »

 

U.S. gas prices drop below $2.50 a gallon, boosting year-end auto sales

1:34 pm U.S. ET | Dec. 18, 2014
U.S. drivers are paying less than $2.50 a gallon at the gasoline pump for the first time in more than five years, giving a lift to year-end car sales.... Read More »

 

Dealertrack expands beyond U.S. with acquisition of German software provider

11:54 am U.S. ET | Dec. 18, 2014
Dealer software giant Dealertrack Technologies is expanding beyond North America with the acquisition of incadea, a dealer software provider based in Germany. Dealertrack plans to pay just over $190 million in cash for publicly traded incadea, the companies said today.... Read More »

 

GM, Audi, Jaguar halt Russia sales on ruble's collapse

Dec. 18, 2014 13:12 CET
GM, Audi and Jaguar Land Rover temporarily stopped selling cars in Russia this week, deciding that taking a timeout from the market was the best way to deal with the ruble's collapse.... Read More »

 

Smartphone app Zubie adds automotive retail and service perks

8:00 am U.S. ET | Dec. 18, 2014
Drivers don’t need a calendar to let them know when to go in for a service check -- Zubie can tell them. And now, the smartphone app is offering perks as well.... Read More »

 

U.S. market has never been more competitive, IHS says

7:00 am U.S. ET | Dec. 18, 2014
The battle for market share among the largest eight automakers in the U.S. has never been greater as the range between them continues to narrow, a report from IHS Automotive said today.... Read More »

 

Forecasters see bigger loans, only modest uptick in delinquencies

11:45 am U.S. ET | Dec. 17, 2014
Favorable trends for auto lending should continue into 2015, including bigger average loans and leases and only small increases in delinquencies, analysts for credit bureaus TransUnion and Equifax predict.... Read More »

 

Incoming AIADA head vows to speak out on CFPB

10:15 am U.S. ET | Dec. 17, 2014
Bradley Hoffman, incoming chairman of the American International Automobile Dealers Association, says he plans to speak out about the Consumer Financial Protection Bureau's controversial positions on automotive lending.... Read More »

 

JIM HENRY

Will the CFPB redefine “larger”?

12:01 am U.S. ET | Dec. 17, 2014
Auto industry watchers that formally weighed in on the Consumer Financial Protection Bureau’s definition of “larger” auto lenders took predictable positions before the public comment period closed last week.... Read More »

 

Ally, Wells Fargo prefer profit over volume

11:30 am U.S. ET | Dec. 17, 2014
Ally Financial and Wells Fargo Dealer Services, two of the nation’s largest auto lenders, say growing competition has them ready to sacrifice market share to protect profits.... Read More »

 

Acura boss sees rise in leasing in 2015

11:15 am U.S. ET | Dec. 17, 2014
Acura should see a “steady lift,” rather than a big jump, in leases as a portion of its U.S. sales volume in 2015, the brand's general manager says. Leases now account for less than 40 percent of Acura’s volume, below the luxury segment’s average.... Read More »

 

Online F&I product sales a 'struggle'

12:01 am U.S. ET | Dec. 17, 2014
Dealership staffers must either present F&I products to customers when they take delivery of their car or contact them later by phone, says Lou Bregou, a director of operations at Driver's Village. Selling F&I online is "an uphill struggle," he says. "We're not there yet."... Read More »

 

In-store kiosks put F&I right in front of customers

12:01 am U.S. ET | Dec. 17, 2014
Michael Fastman is buying kiosks for BMW of Silver Spring, in Silver Spring, Md., where he is general manager, and BMW of Catonsville, in Baltimore, where he is in charge of operations.... Read More »

 

ONWARD ONLINE

After decades of store confinement, the F&I office is inching digital

12:01 am U.S. ET | Dec. 17, 2014
Lou Bregou, a director of operations at Driver's Village in Cicero, N.Y., says he has embraced putting financing tools on the dealership group's e-commerce website. Why not? The features that enable online car shoppers to get firm financing quotes, monthly payment calculations and trade-in values are helping the 16-dealership, 20-franchise group sell vehicles.... Read More »

 

Budget brands win despite Europe's car sales slowdown

Dec. 16, 2014 09:33 CET
New-car registrations in Europe rose 1 percent in November, with budget brands beating the market as nervous consumers kept a tight lid on spending. Vehicle sales in the EU and EFTA markets advanced to 989,457 cars. Eleven-month sales are up 6 percent to 12 million.... Read More »

 

Takata hires PR firm Sard Verbinnen amid airbag recall crisis

1:34 pm U.S. ET | Dec. 16, 2014
Takata said it has hired public relations firm Sard Verbinnen as the company contends with the fallout from its recall crisis for potentially defective airbag inflators that can spray vehicle occupants with metal shrapnel.... Read More »

 

AutoTrader.com joins rivals in offering dealership reviews

11:37 am U.S. ET | Dec. 16, 2014
AutoTrader is adding dealer reviews to its website after long resisting them. The giant vehicle shopping site has agreed to post consumer reviews of dealerships collected by DealerRater, the two companies announced today.... Read More »

 

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

12:01 am U.S. ET | Dec. 15, 2014
At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. He also uses eye-catching displays to generate buzz. The star attraction: A '43 Jeep, under glass beneath the showroom floor.... Read More »

 

Volvo to start online car sales, skip some big auto shows

Dec. 15, 2014 08:39 CET
Volvo will start selling vehicles online as it rolls out new models. The automaker plans to have all its car lines offered digitally in all its markets, sales chief Alain Visser said.... Read More »

 

End of the road for midsize sedans?

12:01 am U.S. ET | Dec. 15, 2014
Talk about an epoch-making event: The midsize sedan's long, long (as in forever) run as the largest vehicle segment in the U.S. may be coming to an end.... Read More »

 

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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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