Retail

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 »

Mercedes-Benz Financial leads in dealer satisfaction, J.D. Power finds

8:00 am U.S. ET | July 27, 2015

Mercedes-Benz Financial Services ranks No. 1 among auto lenders in terms of dealerships' satisfaction with lenders' services, according to a study released today by J.D. Power.... Read More »

Audi aims to raise China sales with revamped A4

July 27, 2015 13:43 CET

Audi hopes that a redesigned A4 sedan will help shore up its fortunes in China where the premium brand is grappling with a second consecutive month of falling sales in its No. 1 market.... 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 »

Valeo raises profit forecast, shrugs off China slowdown

July 27, 2015 10:54 CET

Valeo raised its profit outlook today, playing down the impact of a Chinese market slowdown after a record first-half order intake boosted by demand for driving-assistance and fuel-saving technologies.... Read More »

Pickups are picking up premium price tags

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

Last week, Ford introduced a Limited version of the F-150 that will start at about $60,000 and will likely top $70,000 when loaded with options. So what do you get when you max out other half-ton pickups sold in the U.S. with the most expensive set of options? We found prices identified more with upper-end German performance sedans than vehicles that can haul a load of hay.... 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 »

Here come the Kia crossovers

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

Kia is gearing up for a run at the fast-growing subcompact crossover segment with a dedicated hybrid model, spy photos suggest. About the size of a Honda HR-V, the unnamed Kia is likely to share a platform with a Hyundai model.... Read More »

Fiat working on Abarth variant of 124

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

Fiat plans a high-performance version of the upcoming Fiat 124, Alfredo Altavilla, COO of Fiat Chrysler's Europe, Africa and Middle East region, told England's Auto Express in an interview.... Read More »

JASON STEIN

Store renovation blues are back

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

If you think you've just been transported to February 2012, you're right. Dealership renovations are hotter than the dealers who are steaming mad about them.... Read More »

Volvo, industry flex their CPO sales muscles

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

At the half-year mark, industrywide sales of certified used vehicles stood at 1,275,411, up 13 percent compared with the same period last year. The industry sold 212,843 certified units in June, an 18 percent increase over June 2014.... Read More »

Mercedes revamps supply chain to trim costs

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

Mercedes-Benz aims to reduce its logistics costs by about 20 percent per vehicle as the company invests hundreds of millions of euros in a global reorganization of its supply chain network. The automaker has increased production outside of its German home over the past decade but many of the components used in its cars are still sourced from Europe.... 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 »

Cars add bling, value versions to fight crossovers

12:01 am U.S. ET | July 26, 2015

As rising sales of crossovers continue to pull buyers away from middle-of-the-road sedans, automakers are scrambling to make their high-volume, mainstream cars a little less boring -- or at least more affordable.... Read More »

Car haulers fight driver shortage

12:01 am U.S. ET | July 25, 2015

Long wait times to pick up cars and paperwork contributes big-time to car-hauler driver job dissatisfaction. It is among the reasons the car hauling industry has a shortage of about 3,000 drivers.... 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 »

PSA plans to export Iran-made cars after nuclear deal

July 24, 2015 06:01 CET

PSA aims to export cars it produces in Iran with local partner Iran Khodro, as the French company looks to rebuild its business in the country following the diplomatic agreement last week ending sanctions over Iran's nuclear program.... Read More »

Faurecia accelerates margin target as first-half earnings surge

July 24, 2015 10:47 CET

Faurecia's first-half earnings surged 40 percent as sales growth outpaced auto-market expansion in Europe and North America. The supplier now plans to reach an operating margin of 4.5 percent to 5 percent in the second half rather than in 2016.... 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 »

Honda's freshened Accord gets new smartphone, safety tech for 2016

5:37 pm U.S. ET | July 23, 2015

Honda unveiled a midlife update for its midsize Accord, a lightly freshened model that will play nice with both Apple CarPlay and Android Auto. The 2016 Accord sedan and coupe will also offer the Honda Sensing suite of autonomous safety features.... 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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