Jaguar Land Rover to stick with diesel rollout in U.S.

4:30 pm U.S. ET | Sept. 30, 2015

Jaguar Land Rover North America, which is just introducing its first diesel-powered SUVs in the U.S., won't adjust its diesel strategy in the wake of Volkswagen's emissions scandal, CEO Joe Eberhardt said Wednesday.... Read More »


BLOG: Before CFPB crackdown, how about some guidance?

12:00 pm U.S. ET | Sept. 30, 2015

Before the Consumer Financial Protection Bureau cracks down on auto lenders, it should offer guidance on what its dealer reserve standards are.... Read More »

How extended ownership can create F&I opportunities

12:00 pm U.S. ET | Sept. 30, 2015

Extended vehicle ownership keeps customers out of the market longer. But achieving positive equity in their vehicles as their loan balance falls gives customers more money to put toward another vehicle, including buying F&I products, AutoAlert and IHS Automotive say.... Read More »

Dealers: U.S., Fifth Third settlement over lending bias to curb consumer savings

11:45 am U.S. ET | Sept. 30, 2015

National dealer associations are criticizing the government’s settlement with Fifth Third Bancorp over alleged discriminatory auto lending practices, claiming dealers who work with the bank will now be limited in offering consumers competitive interest rates on auto loans. As part of the settlement, Fifth Third agreed to limit dealer reserve to 1.25 percent above its wholesale buy rate on an auto loan. Previously it had allowed dealerships up to 2.5 percent in reserve.... Read More »

U.S. House panel presses Cordray on how CFPB determines lending bias

11:45 am U.S. ET | Sept. 30, 2015

CFPB Director Richard Cordray told a U.S. House panel Tuesday that the bureau didn't account for credit scores when measuring whether minorities were charged higher interest rates than other borrowers on dealership-arranged auto loans through Ally Financial. Most committee members challenged the CFPB's methodology to calculate discrimination and pressed Cordray to explain how and if the bureau determines the creditworthiness of potentially harmed consumers.... Read More »

U.S. conditionally clears Cox purchase of Dealertrack

6:30 am U.S. ET | Sept. 30, 2015

The U.S. approved Cox Automotive's $4 billion agreement to buy Dealertrack Technologies, which offers technological assistance to car dealerships, on the condition the companies divest an inventory management services unit to preserve competition.... Read More »

Dealers, lenders teach the ABCs of finance

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

Dealers, captive finance companies and others in the industry are trying to help consumers learn good personal finance skills that in turn will help them become better versed about buying and financing a vehicle.... Read More »

Trading profit today for loyalty tomorrow

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

At Johnson Automotive, F&I managers practice the art of conversation and body language to up F&I revenue and customer satisfaction.... Read More »

CFPB orders Fifth Third to pay $18 million for auto loan discrimination; cap dealer reserve at 1.25%

3:24 pm U.S. ET | Sept. 28, 2015

Fifth Third Bancorp reached an $18 million settlement with the Consumer Financial Protection Bureau and U.S. Department of Justice to resolve charges that it discriminated against African American and Hispanic borrowers, the CFPB said Monday.... Read More »


Store buyers always on the hunt for used vehicles

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

When buyers at Sam Swope Auto Group's used-car Buy Center happen across vehicles parked in public places with for-sale signs displayed, they whip out their smart phones, scan the VIN, run a vehicle history report and leave a card with a written cash offer on the windshield.... Read More »


Spiraling diesel crisis deals another blow to VW's frustrated dealers

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

Revelations of cheating and subsequent leadership turmoil at VW add more burdens to VW dealers already seething over a poor product mix, sagging sales and profitability, and an often cold shoulder from headquarters in Germany.... Read More »

Changing Scion gets new boss

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

Andrew Gilleland was a field operations manager at Scion when it was hatched in 2003, working with dealers to help get the youth-oriented brand off the ground.... Read More »

Volvo: S.C. plant is 'the ultimate signal' to dealers

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

As Volvo prepares to build the next-generation S60 compact sedan in Ridgeville, S.C., it hopes that its first U.S. plant persuades its dealers to reinvest in the franchise.... Read More »

Lithia founder takes a pay cut -- for life

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

Lithia Motors Inc. founder Sid DeBoer is stepping down as an executive officer of the company and will take a massive pay cut -- for life.... Read More »


BLOG: VW dealers have a damage control plan for the average Joe

8:50 am U.S. ET | Sept. 27, 2015

Some VW dealers are banking on the public's short attention span.... Read More »

In Boston, dealer Herb Chambers builds an empire (and attracts suitors)

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

While Herb Chambers says he's enjoying the new-car business more than ever, the prominence in his office of a photo of him with Warren Buffett from a recent NADA meeting begs the question: is he going to sell, too?... Read More »

U.S. dealers oppose possible ouster of VW executive

3:04 pm U.S. ET | Sept. 24, 2015

Volkswagen's national dealer council and other dealers are publicly opposing the VW supervisory board's reported plans to dismiss Volkswagen of America CEO Michael Horn.... Read More »

Volkswagen dealers have cause to sue the automaker, lawyers say

12:56 pm U.S. ET | Sept. 23, 2015

Volkswagen dealers -- already seething over a product drought, sagging U.S. sales and an often cold shoulder from headquarters in Germany -- may now have cause to take their frustrations out on the company in court.... Read More »

Captives, independents see solid gains in auto loan, lease accounts

1:00 pm U.S. ET | Sept. 23, 2015

The number of loan and lease accounts is growing faster at auto finance companies than it is at banks, helped by finance companies' lower interest rates and higher subprime lending, Equifax says.... Read More »


BLOG: A cautionary tale of 2 dealership groups and compliance

1:15 pm U.S. ET | Sept. 23, 2015

Just two years after the FTC charged them with deceptive advertising, two dealership groups caught fire again. And it’s costing them.... Read More »

Trust, customized pitches and visuals key to F&I sales, trainers say

12:45 pm U.S. ET | Sept. 23, 2015

To sell F&I products to wary customers, establish trust, personalize the pitch and use visuals, trainers say.... Read More »

F&I profits surpass vehicle profits

12:15 pm U.S. ET | Sept. 23, 2015

Take away automakers' dealer incentives, and dealerships are averaging higher gross profits on F&I than on selling new vehicles, DealerStrong's Greg Goebel says. Three years ago, the reverse was true.... Read More »

Diesel cars loiter in lots as VW dealers, owners sit and wait

7:28 am U.S. ET | Sept. 23, 2015

At the VW of Oakland dealership in California, the German company's "clean diesel-" powered cars were a big hit with eco-friendly customers. Now, following VW's admission that it rigged emissions tests of its diesel cars in the United States, a line of 2015 diesel Golf Sportwagens sit unsellable in the lot.... Read More »

What Sonic is doing to curtail F&I crime

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

For the past 15 years, the most important compliance program at Sonic Automotive has been in its finance and insurance division.... Read More »

Steering dealership ads clear of legal pitfalls

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

Dealerships must review all language before releasing advertisements to consumers if they don't want to find themselves under the Federal Trade Commission's microscope, legal experts and trainers say.... Read More »

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Mazda marketer slams autonomous cars, protects 'Zoom-Zoom'

Mazda marketer slams autonomous cars, protects 'Zoom-Zoom'

Russell Wager says he has a 'real problem' with self-driving cars because they could erase popular tag lines and even brands.
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