Dealers

Group 1 exits N.Y., looks south

12:01 am U.S. ET | Sept. 22, 2014
Group 1 Automotive's latest buy-sells take it out of the Long Island, N.Y., market as the dealership group seeks to add stores in the Carolinas and Virginia.... Read More »

 

NO LAND, NO STORE?

High-volume dealer sues after Mitsubishi sells SoCal site

12:01 am U.S. ET | Sept. 22, 2014
Abbas Ahmadi's passion for cars like the Mitsubishi Lancer Evolution has made him a star in the automaker's retail network. His four Mitsubishi stores accounted for 3 percent of the automaker's total U.S. sales last year. Yet Ahmadi's relationship with Mitsubishi has been rocky, generating multiple lawsuits, and now he's in a battle to save his Huntington Beach, Calif., dealership.... Read More »

 

Calif. dealer champions chaplain services

12:01 am U.S. ET | Sept. 22, 2014
Calif. dealer Bill Hoehn has something few retailers have: A full-time chaplain. The chaplain provides care and support for employees, is available 24/7 for crisis needs and even presides over weddings. The service is part of Hoehn Motor’s spiritual and wellness benefits that also include free yoga and Pilates classes. Hoehn says these benefits enhance employee satisfaction.... Read More »

 

Ford salesman's fall job? College football player

12:01 am U.S. ET | Sept. 22, 2014
The movie script writes itself, a Rudy-like tale of the middle-aged Ford salesman who went back to school to get his degree -- and play college football.... Read More »

 

Tesla, dealers dispute impact of Mass. ruling

12:01 am U.S. ET | Sept. 22, 2014
Tesla Motors Inc. says its win against dealers in Massachusetts' highest court last week bolsters its argument for selling directly.... Read More »

 

Q&A

AutoNation's brand building sets up more growth

12:01 am U.S. ET | Sept. 22, 2014
Mike Maroone, COO of AutoNation Inc., says the nation's largest dealership group is meeting the goals of a multiyear $100 million branding campaign.... Read More »

 

New NAAA chief steps in as volume steps up

12:01 am U.S. ET | Sept. 22, 2014
The past few years have been rough for the auto auction industry. But things are looking up, said Ellie Johnson, president-elect of the National Auto Auction Association.... Read More »

 

3rd parties see their role sticking around

12:01 am U.S. ET | Sept. 22, 2014
Third-party online shopping sites are likely to continue influencing auto shoppers for the foreseeable future, despite pledges by dealership groups such as AutoNation Inc. to rely less on them for prospects, two new studies say.... Read More »

 

BEST PRACTICES

Charity is a priority, not a look-at-me

12:01 am U.S. ET | Sept. 22, 2014
George Nahas, a Chevrolet dealer in central Florida, says his annual budget for philanthropy has consistently been greater than $100,000 per year. Though Nahas says his charitable projects help him sell a few extra cars per year, additional business is never a factor when he evaluates a request.... Read More »

 

Porsche SE cash gives Inrix fuel to grow

12:01 am U.S. ET | Sept. 22, 2014
Inrix Inc., the traffic information provider that drew a $55 million investment this month from Volkswagen AG holding company Porsche Automobil Holding SE, is officially in growth mode.... Read More »

 

Dealers

12:01 am U.S. ET | Sept. 22, 2014
Dealers featured this week include James Auffenberg, president of Auffenberg Hyundai in O'Fallon, Ill.; John Bommarito, president of Frank Bommarito Mazda in Ellisville, Mo.; Howard Bush, dealer principal at B&B Ford in Barnwell, S.C.; Martin Taylor, dealer principal of Taylor Nissan in Lancaster, Ohio; and Ron Parks, owner of Stadium Toyota in Tampa, Fla.... Read More »

 

JESSE SNYDER

Why Detroit is a small town, big city for auto dealers

12:01 am U.S. ET | Sept. 20, 2014
Detroit's a big city. But if you're in the car biz, the Motor City is a small town, too. Karl Zimmermann's party at George Matick Chevrolet was both big city and small town.... Read More »

 

CFPB's latest guide on discrimination falls short, auto lenders, dealers say

3:28 pm U.S. ET | Sept. 18, 2014
Auto lenders and dealers are largely disappointed with a long-awaited report by the Consumer Financial Protection Bureau that outlines the bureau's method for finding discrimination in auto loans.... Read More »

 

NADA calls on CFPB to accept dealer group's anti-discrimination approach

11:00 am U.S. ET | Sept. 18, 2014
The National Automobile Dealers Association called on the Consumer Financial Protection Bureau to recognize NADA's Fair Credit Compliance Policy & Program as a valid way to avoid discrimination, at a CFPB hearing today in Indianapolis into auto-lending practices.... Read More »

 

CFPB finds discrimination in auto lending at banks, looks to oversee captives

5:45 pm U.S. ET | Sept. 17, 2014
The nation's consumer finance regulator found discrimination against minority borrowers at several unnamed banks tied to dealer discretion in setting dealer reserve, the share of the customer's interest rate that dealerships earn for negotiating a finance contract. The CFPB also released the first details of a proposed new rule that would officially extend its jurisdiction to nonbank auto lenders.... Read More »

 

CFPB to shed light on identifying protected classes

12:01 am U.S. ET | Sept. 17, 2014
The Consumer Financial Protection Bureau is due to issue a white paper soon -- perhaps even this week -- that spells out in greater detail exactly how the bureau determines which consumers belong to legally protected classes of borrowers -- technical details that can ultimately have a big impact on dealers' business.... Read More »

 

Tesla argues New Jersey regulators can't stop direct sales

2:06 pm U.S. ET | Sept. 17, 2014
Tesla Motors, in a court filing submitted Tuesday, argued that New Jersey regulators have no authority to shut down direct sales at the electric-vehicle maker's stores in the state.... Read More »

 

Exeter CEO sees steady growth of 15-20%

12:01 am U.S. ET | Sept. 17, 2014
Exeter Finance, a subprime auto-financing specialist, should post “just steady growth” of 15 to 20 percent a year, CEO Mark Floyd says. He made the forecast last week even though in July the company started “making some tweaks” to its lending, he said, tightening its credit standards a bit in light of concerns about issues such as used-car prices.... Read More »

 

F&I panel: 'We can police ourselves'

12:01 am U.S. ET | Sept. 17, 2014
F&I administrators and dealerships should put price ceilings on F&I products to protect themselves from overregulation, a group of executives from F&I providers suggested at a recent industry conference.... Read More »

 

Late auto payments rise, but remain low, TransUnion says

12:01 am U.S. ET | Sept. 17, 2014
Auto loans delinquencies ticked up in the second quarter but remain low and pose no immediate threat to the auto-finance industry, an executive at credit bureau TransUnion says.... Read More »

 

JIM HENRY

The case for casting a wider net with credit apps

12:01 am U.S. ET | Sept. 17, 2014
Auto lenders complain they hate it when dealership F&I managers send them credit applications outside their preferred range of credit scores.... Read More »

 

Captives likely to get CFPB oversight

4:35 pm U.S. ET | Sept. 16, 2014
The Consumer Financial Protection Bureau is expected to issue an important new rule on Thursday defining which nonbank lenders -- including captive finance companies -- will be considered “larger participants” and thus subject to CFPB regulation.... Read More »

 

Defying Dad, by building on his legacy

12:01 am U.S. ET | Sept. 15, 2014
At Courtesy Auto Group in Illinois, Ray and Rik Fregia are seeing sales boom after million-dollar overhauls at their three stores. They are boosting Internet business, using contractors to deliver cars across the U.S. All the while, the brothers, who defied their father's advice and went into the business anyway, are creating fun workplaces with what they call a 'get to' versus 'got to' attitude.... Read More »

 

Edmunds: U.S. sales to stay strong

12:01 am U.S. ET | Sept. 15, 2014
The surge in U.S. light-vehicle sales last month could help lift this year's volume above levels last seen in 2006, Edmunds.com analysts said.... Read More »

 

Tesla prevails in top Mass. court over direct sales

5:52 pm U.S. ET | Sept. 15, 2014
Massachusetts' highest court on Monday threw out a lawsuit seeking to block Tesla from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.... Read More »

 

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Calif. dealer champions chaplain services

Calif. dealer champions chaplain services

Calif. dealer Bill Hoehn has something few retailers have: A full-time chaplain. The chaplain provides care and support for employees, is available 24/7 for crisis needs and even presides over weddings. Mon., September 22
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