Dealers

About 1 in 5 U.S. vehicles has open safety recall, Carfax says

4:21 pm U.S. ET | Feb. 10, 2016

Nearly one in five vehicles on U.S. roads is in need of repair of a safety issue serious enough to be involved in a federal government recall, according to used-car history provider Carfax.... Read More »

HANNAH LUTZ

BLOG: When a client dies, lender can make or break trust

11:00 am U.S. ET | Feb. 10, 2016

A consumer's death during his or her lease term isn't a common occurrence, but how the lender responds to the needs of the consumer's family members makes a lasting impression.... Read More »

CU Direct's network ranks third, again, in auto-loan originations

11:00 am U.S. ET | Feb. 10, 2016

Credit unions on CU Direct's lending network originated a record 1.06 million auto loans in 2015, up 13 percent. For the second straight year, the CUDL network was the nation's third-biggest lender based on auto loan originations, trailing only Ally and Wells Fargo.... Read More »

Death and leases: The challenge of helping a grieving family

11:00 am U.S. ET | Feb. 10, 2016

When a lease customer dies during his or her term, what happens to the contract? Mercedes-Benz Financial has simplified the required steps for grieving family members.... Read More »

Leasing on rise and being 'done right,' says Cox economist

10:00 am U.S. ET | Feb. 10, 2016

Although leasing is on the rise, it is “leasing done right” this time, in contrast to “leasing done wrong” in 1999 when leases last peaked and ultimately damaged residual values dramatically, Tom Webb, Cox Automotive chief economist, writes in the Manheim 2016 Used Car Market Report released Monday.... Read More »

Compliance, accuracy trump F&I speed

12:01 am U.S. ET | Feb. 8, 2016

Speeding customers through the F&I process is often a top priority for dealerships as they strive for higher customer satisfaction. But F&I insiders caution that speed should not shortchange compliance.... Read More »

Cash for Nissan's preferred dealers

12:01 am U.S. ET | Feb. 8, 2016

In its drive to grab a larger slice of the U.S. market, Nissan North America is quietly forming alliances with selected dealers who get favorable treatment, and sometimes millions of dollars, from the company. Nissan says strengthening its retail networks is critical to its growth plans.... Read More »

Detroit 3's share of rental fleet declined in 2015

9:00 am U.S. ET | Feb. 8, 2016

GM, Ford and Fiat Chrysler accounted for 60.1 percent -- their lowest collective share ever -- of the 1.78 million new cars and light trucks sold to rental fleets in 2015.... Read More »

Used-car loophole for recalls tightens up

12:01 am U.S. ET | Feb. 8, 2016

While a proposed federal law to close the used-car loophole is dead for now, efforts to keep unrepaired recalled vehicles out of circulation are stirring. And with powerful players mobilizing on the issue in an era of high-volume, high-profile recalls, dealers and automakers may face pressure to revisit their policies.... Read More »

TIER 2 BLOCKBUSTER

For FCA, no one brand was big enough for 'Star Wars'

12:01 am U.S. ET | Feb. 8, 2016

December is not only prime time for blockbuster Hollywood releases; it's also a crucial month for auto sales promotions. That's why FCA, which partnered with Lucasfilm to co-promote Star Wars: The Force Awakens alongside five of its brands in a global effort, didn't have to think too hard about what direction to take with its campaign. The timing, said FCA marketing boss Olivier Francois, was perfect for Tier 2.... Read More »

AutoNation's recall policy disrupts used-vehicle business

12:01 am U.S. ET | Feb. 8, 2016

AutoNation's recall policy challenged its used-vehicle business in the fourth quarter. The disruptions will continue through the first half as the retailer continues to expand its used-vehicle inventory.... Read More »

Texas dealer tunes into aftermarket audio

12:01 am U.S. ET | Feb. 8, 2016

Huffines Chrysler-Jeep-Dodge-Ram Lewisville in suburban Dallas last year took a shot at selling specialized aftermarket audio accessories and has amped up profits as a result.... Read More »

Dealer anniversaries

12:01 am U.S. ET | Feb. 8, 2016

Dealers featured this week include Greg Wills and Chris Wills of Wills Toyota in Twin Falls, Idaho; Adam Greene, owner of Trend Motors Volkswagen in Rockaway, N.J.; Steve Plante, dealer principal of Tri-City Chrysler-Dodge-Jeep-Ram in Somersworth, N.H.; Dealer Craig Sisk at Sisk Buick in Longview, Texas; and Mark Woods, dealer at Northside Ford in San Antonio.... Read More »

Dealers pay high price with latest recall wave

11:55 am U.S. ET | Feb. 7, 2016

Honda's order that U.S. dealers stop selling some 2.2 million popular models is compounding financial and regulatory headaches for car dealers stuck with millions of vehicles that have potentially hazardous airbags or other safety defects.... Read More »

Group 1 buys U.K. dealership group, sells 3 U.S. stores

4:30 pm U.S. ET | Feb. 5, 2016

Group 1 Automotive has acquired the Spire Automotive Group of 12 dealerships in the Greater London area. It also has divested three dealerships in the U.S.... Read More »

Margin squeeze hurts used-vehicle prices, economist says

1:03 pm U.S. ET | Feb. 5, 2016

The Manheim Used Vehicle Value Index dipped in January, registering only its second decline in the last eight months.... Read More »

Asbury income, revenues up in Q4; vehicle margins down

11:20 am U.S. ET | Feb. 4, 2016

Asbury Automotive Group said net income soared to $41.1 million in the fourth quarter of 2015 as revenues rose 9.1 percent to $1.64 billion.... Read More »

Honda warns dealerships of liability as it widens airbag recall

12:15 pm U.S. ET | Feb. 3, 2016

American Honda has expanded its Takata airbag recalls by more than 2 million vehicles and warned dealers that they could face legal exposure for unrepaired vehicles if they violate a related stop-sale order for the affected cars.... Read More »

N.Y. dealer: We sold credit repair product 'we didn't realize was illegal'

11:00 am U.S. ET | Feb. 3, 2016

A dealership exec whose stores came under fire from the New York attorney general's office for illegal sales of credit repair services tells his side.... Read More »

HANNAH LUTZ

BLOG: F&I product add positions Cox for growth

11:45 am U.S. ET | Feb. 3, 2016

By offering F&I products to its dealers, Cox Automotive is setting itself up for growth.... Read More »

Cox Automotive siblings to offer F&I products

11:00 am U.S. ET | Feb. 3, 2016

Cox Automotive's new push into the finance and insurance world aims to court smaller franchised dealership groups. Dealers who do business with NextGear Capital and GO Financial soon will be able to offer consumers an array of F&I products provided by companies owned by SilverRock Holdings.... Read More »

Ally's auto originations held flat in 2015

11:00 am U.S. ET | Feb. 3, 2016

Ally Financial's 2015 auto loan and lease originations remained flat compared with the year earlier, but that's fine with the lender's CEO. Ally made up for the loss of some General Motors business with gains elsewhere.... Read More »

Tesla applies for dealership license in Michigan

2:46 pm U.S. ET | Feb. 1, 2016

Tesla Motors has applied for a Michigan dealership license, a move the automaker said is intended to test a state law effectively banning the electric-vehicle maker's direct-sales model.... Read More »

CarMax CEO Tom Folliard to retire by end of year

10:34 am U.S. ET | Feb. 1, 2016

CarMax CEO Tom Folliard will retire by the end of the year, the used-car retailer said today. He will be succeeded by Bill Nash, the executive vice president of human resources.... Read More »

Surge in end-of-lease cars seen pressuring prices in record sales year

6:51 am U.S. ET | Feb. 1, 2016

A surge in cars and SUVs coming out of leases have analysts predicting pressure on prices of both used and new models, curbing investor enthusiasm over sales records projected for this year.... Read More »

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