Dealers featured this week include Gary Jaffarian, CEO of Jaffarian Volvo in Haverhill, Mass.; John Youngblood, dealer principal of Youngblood Nissan in Springfield, Mo.; Frank DeLuca, dealer principal of DeLuca Toyota in Ocala, Fla.; Mark Parkinson, president of Tustin Buick-GMC in California; Hennon King, owner of King Chevrolet in Valley, Ala., and dealer Tanya King Waldrop; Richard Curia, dealer principal of Ken Nelson Toyota in Dixon, Ill.; Michael Kennedy, president of Kennedy Automotive Group in Pottstown, Penn.; Terry Lawrence, dealer principal at L&L Ford in East Berlin, Pa.; and Steve Wallace, dealer principal of Team Nissan in Oxnard, Calif.
Carvana Co.'s aggressive growth shows no sign of slowing: The online used-car retailer continues to charge into new markets on the strength of investor backing and improving vehicle sales and gross profit. Net profit, however, remains elusive.
The case -- involving a fictitious shell company, falsified documents and a rogue sales manager -- serves as a cautionary tale for dealerships on the need to monitor their employees and fully run down suspicions about potentially problematic transactions.
Volvo's early success with its car subscription plan has put the company in an enviable position as automakers tinker with business models that don't revolve around traditional car ownership. But it has led to unforeseen challenges, namely a backlog of orders and tension with dealers.
Presidio Group, a dealership buy-sell advisory firm, recommends that its clients create a conversion plan to serve the future industry or opt to sell their dealerships ahead of predicted dealership disruption from autonomous vehicles.