Dealer Groups and Dealerships

Echopark stores' iPad strategy reaps F&I results

12:01 am U.S. ET | June 8, 2015

Sonic Automotive Inc.'s three new used-vehicle stores in the Denver area are getting strong F&I results. The three stores together average nearly $1,000 per vehicle on sales of extended service contracts, guaranteed asset protection and other add-on items. That's despite having no dedicated F&I officers and using a one-price, one-salesperson process.... Read More »

Agency staff learned the ropes in the showroom

12:01 am U.S. ET | June 8, 2015

Preston Automotive Group bets it can help other dealerships improve their digital marketing.... Read More »

Average new-car loan hit 67 months in Q1

11:30 am U.S. ET | June 3, 2015

More than a fourth of all new light vehicles financed in the first quarter carried loans of 73 to 84 months, data from Experian Automotive show. The average loan term in the quarter rose to 67 months for new vehicles and 62 months for used, both records. Longer loan terms aren't necessarily a threat to the auto market, but they already are trimming sales, industry experts say.... Read More »

0% loans mark the start of summer

11:15 am U.S. ET | June 3, 2015

Nearly a tenth of consumers who financed their vehicles in May received no-interest loans, according to Edmunds.com. That share likely will grow through the summer months before falling back in October.... Read More »

AutoNation new-vehicle sales rise 5% in May

10:26 am U.S. ET | June 3, 2015

AutoNation said today its U.S. new-vehicle sales increased 5 percent in May from a year earlier to 31,777.... Read More »

Dealers vs. TrueCar: The saga continues

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

Three years after a nearly fatal dealer revolt and regulatory crackdown prompted it to change its ways, TrueCar continues to be haunted by suspicion among dealers and broader questions about its business model.... Read More »

Inside Sonic's used-only dealership

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

A tour inside a prototype Sonic Automotive used-car only store in Denver reveals fireplaces, "open consultation" stations with sofalike seating, and inventory searches guided by shoppers on a giant screen with an iPad. At EchoPark, it's all about the customer experience.... Read More »

U.S. vehicle loan terms hit record in Q1

3:22 pm U.S. ET | June 1, 2015

The average length of loans for new and used vehicles in the United States in the first quarter hit record highs, and nearly 30 percent of new-vehicle loans have pay-back periods longer than six years, Experian Automotive said in a report issued today.... Read More »

TrueCar faces shareholder suit

3:13 pm U.S. ET | May 28, 2015

TrueCar's legal woes mounted Wednesday as the online car-buying service was hit with a shareholder lawsuit alleging that it misled its investors about how it does business.... Read More »

Larry Miller Group launches Fast Pass to speed auto transactions

12:00 pm U.S. ET | May 27, 2015

Larry H. Miller Dealerships is pushing to put more of the car buying process online, but the F&I component will stay in the dealership. The group is launching LHM Fast Pass, a website tool that enables customers to select and reserve online a new or used vehicle for purchase or lease.... Read More »

RICHARD TRUETT

BLOG: With sports cars, hit reset (often) for success

11:00 am U.S. ET | May 26, 2015

Sporty cars won't live past one generation if car companies don't keep them fresh with new models and features. Constant investment or a slow, agonizing death.... Read More »

California dealers sue TrueCar

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

The California New Car Dealers Association is suing TrueCar Inc., accusing the vehicle-shopping site of breaking California laws on dealer licensing, brokering, advertising and disclosure.... Read More »

Auctions focus on high-quality vehicle images

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

Auctions are taking steps to raise the quality and resolution of their vehicle photos, yielding more bids and higher conversion rates.... Read More »

Dealers can't even touch some hot brands

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

Buying a luxury German-brand dealership isn't easy. Just ask dealer David Slone. His three-year, as yet unsuccessful search shows how difficult it is to acquire an in-demand brand.... Read More »

California dealer group sues TrueCar, claims website acts as dealer

2:21 pm U.S. ET | May 20, 2015

The California New Car Dealers Association is suing TrueCar, accusing the vehicle-shopping site of breaking California laws on dealer licensing, brokering, advertising and disclosure.... Read More »

Subprime loans fall to lowest share since 2012

12:00 pm U.S. ET | May 20, 2015

Subprime and deep subprime loans in the first quarter dropped to their lowest share of the market since 2012, Experian Automotive says.... Read More »

AutoNation marks milestone with $20 million ad campaign

12:01 am U.S. ET | May 18, 2015

AutoNation is celebrating a pending milestone — 10 million vehicles sold — with its largest advertising campaign in history. The auto retailer run national television ads for the first time as part of the $20 million campaign.... Read More »

AutoNation launches private-label products

12:01 am U.S. ET | May 11, 2015

This month in its Texas stores, AutoNation will start selling self-branded extended service contracts. It's the beginning of AutoNation's plan to sell private-label F&I products online and in stores. The company could eventually even take the products in-house completely.... Read More »

TrueCar revenue rises 33%

12:01 am U.S. ET | May 11, 2015

TrueCar Inc., the car-shopping service, reported continued revenue growth and another loss in the first quarter. The company added that it will step up spending on advertising and other efforts to attract customers through the rest of the year, and forecast a big rise this year in the number of auto sales it facilitates.... Read More »

Sonic to restore customer-pay service revenue

12:01 am U.S. ET | May 11, 2015

Sonic Automotive's warranty work is up so much, it was losing customer-pay service jobs due to lack of capacity. It's changing that now with several tweaks to its service lane.... Read More »

EDITORIAL

FCA US' education bet

12:01 am U.S. ET | May 11, 2015

Fiat Chrysler's new program to provide free college education for dealership personnel addresses the urgent need for dealerships to stem appallingly high turnover and attract and retain quality employees.... Read More »

Dealertrack, Autobytel digest acquisitions

1:12 pm U.S. ET | May 8, 2015

Dealertrack Technologies and Autobytel, vendors to auto dealers, are benefiting from the hot vehicle-sales market even if they are trying to absorb acquisitions made last year, the companies said in separate earnings announcements this week.... Read More »

TrueCar records 33% revenue growth in Q1

8:47 pm U.S. ET | May 7, 2015

TrueCar reported continued revenue growth and another loss in the first quarter, and said it launched its TrueCash incentive program, which allows automakers to target discounts to specific consumers based on where they live, what they drive and what they're shopping for.... Read More »

Toyota picks 8 stores to sell Mirai hydrogen car

4:02 pm U.S. ET | May 6, 2015

Toyota, seeking a smooth debut this fall for its Mirai hydrogen car, said it will initially sell the car through just eight dealerships in California.... Read More »

KAR Auction Q1 net income doubles

3:11 pm U.S. ET | May 6, 2015

KAR Auction Services, parent company of ADESA, said its net income more than doubled to $54.5 million on revenues that increased 8.3 percent to $632.4 million in the first quarter.... Read More »

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