Dealer Groups and Dealerships

Texas car salesman kidnapped during test drive, escapes and fights back

2:36 pm U.S. ET | Jan. 5, 2016

What was supposed to be a typical test drive for a Houston car salesman turned into a violent kidnapping that ended with him escaping and two suspects fleeing.... Read More »

EDITORIAL

Enjoy good times, and keep an eye on the road ahead

12:01 am U.S. ET | Jan. 4, 2016

It is easy to look back at a robust 2015 across much of the auto industry and conclude that the same good fortunes also must lie ahead in 2016.... Read More »

CFPB, F&I products led top stories in 2015

10:30 am U.S. ET | Dec. 30, 2015

News on the Consumer Financial Protection Bureau's actions relative to auto lenders and dealers consistently pulled in the most Automotive News' F&I readers in 2015. A review of the best-read headlines of each month shows that four of the 12 center on the CFPB.... Read More »

Carfax owner buys Canadian vehicle-history provider for $460 million

11:48 am U.S. ET | Dec. 28, 2015

IHS said today it has acquired Carproof, a Canadian used-vehicle history provider, for $460 million.... Read More »

2015 LISTS OF 10

Hot topics, trends to watch in 2016

12:01 am U.S. ET | Dec. 28, 2015

Record certified used-vehicle sales. Strong used-vehicle prices, even amid rising inventory. It was a booming year in the automotive remarketing world in 2015. Here are 10 topics and trends to watch in 2016.... Read More »

HANNAH LUTZ

BLOG: Is F&I disruptor's plan worth the risk?

12:01 am U.S. ET | Dec. 23, 2015

Dealer-owned captive financing sounds like a promising idea for retailers, but is it worth the risk?... Read More »

Retailers put the brakes on starting captives

12:01 am U.S. ET | Dec. 23, 2015

Retailers interested in starting their own captive finance companies are finding the undertaking challenging and expensive. Some prominent dealership groups have turned away from the prospect.... Read More »

CarMax captive sees fewer subprime loan requests, more charge-offs

12:01 am U.S. ET | Dec. 23, 2015

In its fiscal third quarter ended Nov. 30, CarMax's captive finance arm received fewer applications for loans from consumers with low credit scores than a year earlier, the company said. CarMax Auto Finance's loan charge-offs also rose, prompting a “modest” increase in loan loss provision.... Read More »

In Boston, Nissan's a tough sell to dealers

12:01 am U.S. ET | Dec. 21, 2015

Nissan's frayed relations with dealers can be seen in Boston, where one abandoned store sits vacant and the company has had problems filling two open points, sources say. The problems, they say, stem from Nissan's push to reach 10 percent market share in the U.S.... Read More »

Cox hires new ad agency for Autotrader, Kelley Blue Book

10:07 am U.S. ET | Dec. 21, 2015

Cox Automotive has appointed Zambezi as the lead brand strategy and creative agency for its Autotrader and Kelley Blue Book brands following a competitive review.... Read More »

A DOZEN DISRUPTORS

Elon Musk: Challenging the franchise system

12:01 am U.S. ET | Dec. 21, 2015

When Elon Musk laid out his blueprint for electric vehicle-maker Tesla Motors in 2004, he proposed many approaches that ran counter to accepted car business practices. But none of them upset the American industry status quo quite so much as his plan to retail Teslas directly to consumers, without going through a network of independent franchised dealers.... Read More »

JAMES B. TREECE

With a foe like this, CarMax just can't win

12:01 am U.S. ET | Dec. 21, 2015

Sean Kane, a consumer advocate, set out deliberately to buy a used vehicle with an open safety recall at a CarMax store in Massachusetts. He succeeded, purchasing a 2012 Jeep Grand Cherokee with three unfixed recall orders on it. Now, he's upset that CarMax sold him the Jeep.... Read More »

CarMax, consumer groups spar over recall repair responsibility

3:17 pm U.S. ET | Dec. 15, 2015

When a consumer wants to buy a used vehicle with an unfixed safety recall from a CarMax store, who should be responsible for making sure the problem gets fixed?... Read More »

CDK says Anenen stepping down as CEO; Brian MacDonald named successor

12:42 pm U.S. ET | Dec. 14, 2015

CDK Global CEO Steven Anenen will step down from his role at the dealer software provider by June 30, the company said.... Read More »

AutoNation CEO Jackson joins World Congress

12:01 am U.S. ET | Dec. 14, 2015

AutoNation Inc. CEO Mike Jackson, who this year defied both the National Automobile Dealers Association and TrueCar Inc., will speak at the Automotive News World Congress on Jan. 12.... Read More »

Retailers put the brakes on starting captives

12:01 am U.S. ET | Dec. 14, 2015

Retailers interested in starting their own captive finance companies are finding the undertaking challenging and expensive. Some prominent dealership groups have turned away from the prospect.... Read More »

Nov.'s average new-vehicle loan payment tops $500 a month

12:00 pm U.S. ET | Dec. 9, 2015

The average monthly payment on a new-vehicle loan reached a record in November, as transaction prices rose, Edmunds.com says. The average monthly payment in November was $504, 2.4 percent, or $12, higher than a year earlier, Edmunds data show. That also represented a gain of 1.2 percent from October.... Read More »

Manheim realigns auction sites to better tailor dealer services

9:00 am U.S. ET | Dec. 7, 2015

Manheim is realigning its 79 brick and mortar auction sites into two new divisions. The change is aimed at better tailoring services for local dealers and providing more services to commercial customers and dealers.... Read More »

AutoNation says Nov. sales fall 6%; acquisition in Wash. announced

11:04 am U.S. ET | Dec. 2, 2015

AutoNation's new-vehicle retail sales fell 6 percent in November compared with a year earlier to 25,555 vehicles, a drop driven in part by there being two fewer selling days last month.... Read More »

Industry highs set, with a quarter yet to go

12:45 pm U.S. ET | Dec. 2, 2015

With year-end results yet to come, the industry has already set records in lease penetration, new-vehicle financing levels and in the numbers of consumers taking out longer loans, Experian data show.... Read More »

New CEO says TrueCar must change

12:01 am U.S. ET | Nov. 30, 2015

TrueCar's new CEO, Chip Perry, harbors no illusions about the task he'll face in stabilizing the company and rebuilding bridges with auto dealers.... Read More »

RFJ Auto Partners expands Dave Smith dealership model

12:01 am U.S. ET | Nov. 30, 2015

New dealership group RFJ Partners is continuing to grow. With the purchase of a Nissan store in Spokane, Wash., RFJ is making the first expansion of its high-volume Dave Smith dealership brand and operating model.... Read More »

ADESA refocuses on physical auctions

12:01 am U.S. ET | Nov. 30, 2015

A few years ago, technology made online used-vehicle remarketing possible. Then the recession made it a necessity. But now that new- and used-vehicle volumes have fully recovered, auction giant ADESA is focusing again on its physical auctions, without ignoring its online operations.... Read More »

U.S. House passes bill revoking CFPB auto lending guidance; Senate, Obama pose hurdles

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

A bill that would limit the U.S. Consumer Financial Protection Bureau’s 2013 auto lending guidance passed the House of Representatives last week by a 332-96 vote. But the bill faces an uphill battle in the Senate and from President Obama.... Read More »

Chip Perry, TrueCar's new CEO, seeks to rebuild dealers' trust

11:00 am U.S. ET | Nov. 23, 2015

Chip Perry said his goal as the new CEO of TrueCar will be to win back the trust of auto dealers. Perry, 62, who helped build AutoTrader from a start-up venture into a $1 billion shopping site, was named CEO of TrueCar earlier today. He replaces Scott Painter, who announced his resignation as CEO in Augus... Read More »

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