Dealers

FCA recalls 284,153 Dodge Chargers for airbag flaw

11:19 am U.S. ET | Aug. 1, 2015

Fiat Chrysler is recalling 284,153 Dodge Chargers for a flaw that could lead side airbag inflatable curtains and seat airbags to deploy unexpectedly, raising the risk of crash and injury.... Read More »

Pricier insurance for F-150?

12:01 am U.S. ET | Aug. 1, 2015

The Insurance Institute for Highway Safety this week said that it had done a test showing that repair costs for Ford's aluminum-bodied 2015 F-150 pickup jumped 26 percent over those of its steel-bodied predecessor. But that doesn't necessarily mean insurance premiums will go up.... Read More »

RICHARD TRUETT

BLOG: It's too early to settle aluminum vs. steel repair-cost debate

11:59 am U.S. ET | July 31, 2015

It seems like everyone wants to know if the aluminum-bodied Ford F-150 is more expensive to repair than the steel-bodied pickup it replaced. We don't know -- and we won't know for a long time.... Read More »

Spain fines GM, Ford, other automakers for anti-competitive practices

July 31, 2015 06:01 CET

Spain's CNMC competition authority fined 21 automakers and two consultancy firms 171 million euros for anti-competitive practices. GM and Ford were given the highest penalties.... Read More »

TrueCar hit with another dealer lawsuit

3:01 pm U.S. ET | July 31, 2015

A group of 100 auto dealerships that are part of TrueCar's network are suing the online car-buying service for not disclosing to consumers the nature of the fees that dealers pay the company for each sale.... Read More »

Uber launches car leasing unit, makes entry into financial services

11:56 am U.S. ET | July 30, 2015

Uber Technologies has launched its own auto leasing subsidiary to seek more drivers, injecting the fast-growing ride services company directly into the financial services sector for the first time.... Read More »

U.S. House committee approves limit on CFPB's oversight of auto lending

5:15 pm U.S. ET | July 29, 2015

The U.S. House Financial Services Committee approved a bill Wednesday that would significantly limit the Consumer Financial Protection Bureau's guidance over auto lending.... Read More »

Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group reported second-quarter net income rose 29 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments.... Read More »

CDK sees 25 percent profit growth in 2016

3:37 pm U.S. ET | July 29, 2015

CDK Global CEO Steve Anenen predicted that earnings at the dealership software giant would jump in its 2016 fiscal year. On the strength of cost-cutting and better bundling of software products, CDK Global expects adjusted earnings to rise at least 25 percent in 2016 on revenue growth of 4 to 5 percent, Anenen told analysts during a year-end earnings call today.... Read More »

TrueCar, Sonic settle trademark lawsuit

3:00 pm U.S. ET | July 29, 2015

TrueCar and Sonic Automotive reached a settlement in TrueCar's lawsuit against the dealership group over trademark infringement. As part of the deal, Sonic agreed to transfer to TrueCar all rights to and use of its True Price, True View and all other True-related marks. Sonic also will lift a ban on using TrueCar at its dealerships.... Read More »

Dealer satisfaction grows when auto lenders embrace e-contracting

12:00 pm U.S. ET | July 29, 2015

Dealers like e-contracting. That's one of the key findings from the 2015 U.S. Dealer Financing Satisfaction Study by J.D. Power released this week. Another takeaway: Dealers are willing to pay lenders a premium for good service.... Read More »

Public retailers boost F&I profits in Q2

12:30 pm U.S. ET | July 29, 2015

F&I profits increased at all six of the largest public new-car retailers in the second quarter. The nation's largest retailer, AutoNation, led the way with F&I revenue per new vehicle retailed of $1,528 on a same-store basis.... Read More »

HANNAH LUTZ

BLOG: AutoNation, Group 1 are neck and neck in F&I race

12:30 pm U.S. ET | July 29, 2015

AutoNation overtook former frontrunner Group 1 Automotive for the top spot among the public retailers in F&I profit per vehicle in the second quarter. Or did it? It depends on how you measure.... Read More »

Ally's second-quarter auto lending flat despite GM pullback

11:45 am U.S. ET | July 29, 2015

Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for GM vehicles. For the first time, GM accounted for less than half of Ally's auto originations.... Read More »

As dealership sales climb, margins slide

12:01 am U.S. ET | July 27, 2015

On the surface, second-quarter results from five publicly traded dealership groups last week were solid. But behind the gains lurked a disturbing trend: At all five, profit margins on new-vehicle sales fell.... Read More »

TrueCar works on relationships

12:01 am U.S. ET | July 27, 2015

TrueCar's dealer relations ranks are getting a tune-up this summer, with a longtime industry insider leaving and two new execs joining the company. Separately, the company said problems converting enough shoppers into buyers hurt its second-quarter results.... Read More »

Sonic President Scott Smith named CEO

12:10 pm U.S. ET | July 27, 2015

Sonic Automotive is shuffling some executive positions, naming its co-founder Scott Smith to the post of CEO, effective immediately, the company said in a statement today.... Read More »

Energy prices, flood waters are no match for Group 1

12:01 am U.S. ET | July 27, 2015

From the outside, one might assume Houston's Group 1 would be hurting. But its adjusted net income jumped 20 percent to a second-quarter record of $47.9 million, as revenue climbed 8.6 percent to $2.73 billion.... Read More »

SHAREHOLDER VALUE REPORT

Retailers, suppliers pace 2nd-quarter shareholder returns

12:01 am U.S. ET | July 27, 2015

Shareholder returns among global automakers in the second quarter drooped in a down global economy, but U.S. publicly owned retailers and global suppliers handily outperformed most indexes.... Read More »

BEST PRACTICES

Tomes' 10-foot rope a measure of success

12:01 am U.S. ET | July 27, 2015

At Bob Tomes' Ford and Subaru stores in McKinney, Texas, any staffer who gets within 10 feet of a customer must greet them and ask them about their experience and whether they can help. Workers are empowered to fix problems, and the customer satisfaction scores for the dealerships have gone up.... Read More »

Dealers

12:01 am U.S. ET | July 27, 2015

Dealers featured this week include members of the Brasher family at Brasher Motor Co. (Buick-Chevrolet-GMC) in Weimar, Texas; Hilary Haron and Randy Haron of Haron Land Rover in Fresno, Calif.; and Joseph Suresky, dealer principal of Suresky Hyundai in Goshen, N.Y.... Read More »

NADA to hold convention in Las Vegas every other year

8:33 pm U.S. ET | July 24, 2015

The National Automobile Dealers Association it will hold its annual convention in Las Vegas every other year through 2022, the association said Friday.... Read More »

TrueCar calls second quarter a 'wake-up call'; shares plunge

9:20 pm U.S. ET | July 23, 2015

TrueCar's CEO warned the online car-shopping company will miss its previous guidance on second-quarter earnings, calling the shortfall a “wake-up call to focus on the business.”... Read More »

FTC probes GM over possible CPO sales without recall fixes

6:03 pm U.S. ET | July 23, 2015

The Federal Trade Commission is investigating GM because some of its dealerships advertised certified used vehicles that hadn't received recall-related repairs.... Read More »

GM shrugs off China worries with $1.1B Q2 profit

7:45 am U.S. ET | July 23, 2015

GM's strong second-quarter results in China seemed to allay investors' concerns that a slowdown in Chinese demand would dent the company's bottom line. The automaker posted net income of $1.1 billion last quarter, fueled by strong demand for pickups and SUVs, and higher pretax profit and margins in China.... Read More »

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