Dealers

Toyota, Scion target younger consumers with online sales, finance tool

11:45 am U.S. ET | Aug. 19, 2015

Toyota and Scion are targeting young consumers with a new car-buying program that will enable customers to start both the shopping experience and financing process online. Scion began a pilot of its online transaction program, Pure Process Plus, in May. The Toyota brand plans to launch its online shopping tool in six to 12 months.... Read More »

Wells Fargo adding car loan branches to boost less risky lending

3:26 pm U.S. ET | Aug. 18, 2015

Wells Fargo is building more branches devoted to car loans and financing for auto dealers to help increase its auto lending business without taking bad credit risk, the bank's head of car lending told Reuters.... Read More »

AutoNation adds 16 stores, makes biggest purchase since 2001

8:15 am U.S. ET | Aug. 18, 2015

AutoNation, the largest U.S. dealership group, has agreed to buy 16 stores representing more than $600 million in annual revenue, including its biggest single dealership purchase since 2001.... Read More »

BEST PRACTICES

Dealer's drone shoots video to stand out

12:01 am U.S. ET | Aug. 17, 2015

The Jeff Wyler Automotive Family has purchased a drone to spice up promotions, social-media campaigns and vehicle-delivery celebrations.... Read More »

Millennials are developing parents' taste for Jaguars, Cadillacs

6:51 am U.S. ET | Aug. 17, 2015

Millennials are developing a taste for expensive -- and even luxury -- automobiles and taking out cheap leases so they can afford them. Lexus, Jaguar, Cadillac and Acura are among the top 10 brands leased by millennial buyers, along with other pricey cars like Subaru, Mini and Buick, according to Edmunds.com... Read More »

Clout or count? NAMAD debates strategies

12:01 am U.S. ET | Aug. 17, 2015

Minority dealers should consider joining forces with other partners to create bigger dealership groups, said the head of the largest black-owned dealership group in the U.S. That might result in more minorities owning minority stakes in bigger, more successful dealership businesses, he added.... Read More »

FCA takes guesswork out of dealers' weighty decisions

6:00 pm U.S. ET | Aug. 16, 2015

Fiat Chrysler is introducing an online analyzer that allows dealers to forecast potential returns from expanding their service operations.... Read More »

Henrik Fisker designs exotic convertible for Galpin

6:57 am U.S. ET | Aug. 16, 2015

Luxury designer Henrik Fisker has created a convertible variation of the Ford GT Mustang to be sold by Galpin Auto Sports of Los Angeles.... Read More »

Tesla note irks some Model S owners

1:42 pm U.S. ET | Aug. 14, 2015

Tesla Motors annoyed some owners of its Model S cars with an e-mail requesting that they stop hogging the free fast-charging stations the electric-vehicle maker provides to ease long-distance travel.... Read More »

JAMIE LaREAU

BLOG: Sales legend rings up with advice on cars, marriage, cars

10:03 am U.S. ET | Aug. 13, 2015

From 1966-77, Joe Girard won the annual title as the world's No. 1 car salesman. He retired from selling cars at age 49 and launched a career as a speaker and writer. Today, at 86, Girard is still a speaker.... Read More »

TrueCar says it considers U.S. antitrust probe to be closed

2:01 pm U.S. ET | Aug. 12, 2015

U.S. antitrust enforcers have closed an investigation into whether auto dealers ganged up against shopping website TrueCar Inc in 2011 and 2012 in order to raise prices, TrueCar said in a securities filing today.... Read More »

U.S. sets consumer payment terms under Ally's bias settlement

11:45 am U.S. ET | Aug. 12, 2015

Consumers eligible to participate in Ally Financial's settlement with U.S. regulators over alleged discriminatory auto lending practices could receive a payment of at least $225 from the settlement fund, according to a letter sent to a refund candidate that was obtained by Automotive News.... Read More »

Millennials beat Gen Xers in taking out auto loans

11:45 am U.S. ET | Aug. 12, 2015

Millennials are taking out more auto loans than the generation before them did. Auto loans made up 14 percent of all newly opened accounts for millennials in the last half of 2014, compared with 1 percent of newly opened accounts for members of Generation X in the last half of 1998, when they were at a comparable age.... Read More »

Auto loan, lease balances top $1 trillion

11:45 am U.S. ET | Aug. 12, 2015

U.S. auto loan and lease balances, fueled by a robust market for new vehicles, have surpassed $1 trillion for the first time, according to the latest Equifax National Consumer Credit Trends Report. Total outstanding U.S. auto loans and leases reached $1.021 trillion in June, a year-over-year gain of 10.5 percent.... Read More »

A former CFPB lawyer on how lenders can stay clean with the bureau

11:45 am U.S. ET | Aug. 12, 2015

The Consumer Financial Protection Bureau at times gives one consumer complaint the weight of 10,000. But there are ways auto lenders can maintain a clean reputation with the bureau, a former CFPB lawyer says.... Read More »

HANNAH LUTZ

BLOG: A case for using single staffer for sales, F&I

11:45 am U.S. ET | Aug. 12, 2015

At Barry Chrysler-Dodge-Jeep- Ram in Ephrata, Wash., store owner Denver Morford wants customers to work with the same employee throughout the entire purchase process to build a relationship and customer retention.... Read More »

CDK Global exploring sale to private equity firms, report says

4:52 pm U.S. ET | Aug. 11, 2015

CDK Global, one of the two dominant providers of dealer management system software used by auto retailers to help run their stores, is meeting with private equity firms to gauge their interest in buying the company, people with knowledge of the matter told Bloomberg.... Read More »

How to keep the F&I office out of trouble

12:01 am U.S. ET | Aug. 10, 2015

Dealers and their finance and insurance managers often have opposing goals. Dealers seek high customer satisfaction and loyalty and long-term revenue. F&I managers tend to focus on short-term profits and maximizing opportunities to generate them. If F&I managers prioritize those aims instead of dealers', it could lead to serious problems in the F&I office.... Read More »

Ohio's future dealers learn to lobby, network

12:01 am U.S. ET | Aug. 10, 2015

Ohio Automobile Dealers Association's Next Gen Dealer Program helps budding dealers learn legislative issues, processes and network.... Read More »

Lexus: 'Dealers set the price, and that's the price'

12:01 am U.S. ET | Aug. 10, 2015

Lexus will take on one of the car business's most troublesome traditions next year -- haggling with customers over vehicle prices -- as the brand enlists dealer volunteers and allows them to set their own firm prices.... Read More »

Mel Farr, former Detroit dealer, dies

12:01 am U.S. ET | Aug. 10, 2015

Mel Farr, former Detroit Lion's running back and once owner of the largest black-owned dealership group in the country, died Monday, August 3. He was 70.... Read More »

BEST PRACTICES

It takes green to go green at dealership

12:01 am U.S. ET | Aug. 10, 2015

It takes money to go green. At Thoroughbred Ford in Kansas City, Mo. around 500 incandescent lights above the lot are being replaced with expensive industry grade LED bulbs at a cost of more than $100,000. E-Commerce Director George O'Sullivan cites the new bulbs as the most prominent of Thoroughbred's efforts to green up the way it does business.... Read More »

Cadillac works to revise dealer incentives

12:01 am U.S. ET | Aug. 10, 2015

Two main elements of Johan de Nysschen's plan to rehabilitate Cadillac's image are to tighten dealers' inventories and quash their sell-at-any-cost mentality. But Cadillac's dealer-incentive programs today are designed to do just the opposite.... Read More »

For dealers, email still king for nabbing sales leads

12:01 am U.S. ET | Aug. 10, 2015

The old-fashioned email campaign remains the top producer of sales prospects for dealerships, even as digital marketing becomes increasingly sophisticated.... Read More »

Dealers

12:01 am U.S. ET | Aug. 10, 2015

Dealers featured this week include Kip Lager, president of Lager's Inc. (Chrysler-Dodge-Jeep-Ram) in St. Peter, Minn.; David and Doug Waikem of Waikem Honda in Massillon, Ohio; and David Halvorson, dealer principal at American Chevrolet in Modesto, Calif.... Read More »

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