Dealers

Honda to drop Crosstour, move Accord hybrid output to Japan

4:00 pm U.S. ET | April 8, 2015

Honda will stop producing the Crosstour, a slow-selling derivative of the Accord, after the 2015 model year as part of a broader move aimed at boosting truck-production capacity.... Read More »

JIM HENRY

BLOG: Lenders' outcry against CFPB 'narratives' is justified

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

It's no wonder auto lenders cried foul last month when the CFPB announced its plan to begin posting consumers' first-person tales of their grievances with auto loans later this year.... Read More »

Q&A

Mercedes’ captive boosts dealership training on branded F&I products

11:00 am U.S. ET | April 8, 2015

Mercedes-Benz Financial Services’ U.S. insurance unit is gearing up to train more dealership F&I managers to sell its First Class-branded F&I products. Lease penetration is high for Mercedes-brand vehicles, so the insurance unit specializes in F&I products suitable for lease customers, such as prepaid maintenance and coverage for excess wear and tear.... Read More »

FICO pilot holds promise for auto financing

11:45 am U.S. ET | April 8, 2015

The results of a pilot program between Fair Isaac Corp. and 12 big credit-card companies could ultimately help dealerships get auto loans approved for so-called thin files -- that is, customers with little or no credit history.
... Read More »

Low rates will continue to help auto sales, financing in 2015, experts say

11:45 am U.S. ET | April 8, 2015

Interest rates should remain low for the rest of 2015, helping auto dealerships sell vehicles, experts say. Low interest rates and longer auto-loan terms have largely offset higher transaction prices the past few years, keeping increases in monthly payments to a minimum.... Read More »

CarMax finance arm won’t become major subprime player

11:30 am U.S. ET | April 8, 2015

CarMax’s finance arm will continue its subprime lending test and might expand it in the future. But the unit won’t become a “full player” in that space, says company CEO Tom Reedy. CarMax Auto Finance will continue to originate loans under the test at its current rate of 5 percent of subprime vehicle sales or a little less than 2 percent of overall loan originations.... Read More »

VIDEO: Opting for the online auction lane

12:01 am U.S. ET | April 7, 2015

Online used-vehicle shopping is changing how dealers and auction companies operate.... Read More »

Subaru stores have year to get service-expansion aid

12:01 am U.S. ET | April 6, 2015

Subaru will have renovated and expanded two-thirds of the service-shop capacity at its U.S. dealerships by the time a national investment drive ends next year.... Read More »

VIDEO: Manheim Pennsylvania's legacy in the lanes

12:01 am U.S. ET | April 6, 2015

Manheim Pennsylvania, the birthplace of the nation's largest auction company, celebrates 70 years in business.... Read More »

Ford says aluminum repair smooth so far

12:01 am U.S. ET | April 6, 2015

It's early, but Ford says it's so far so good on repairing damaged 2015 F-150 pickups with aluminum bodies. Ford has not heard of any dealers or independent body shops having problems obtaining parts, installing parts or dealing with insurance companies about the time it takes to repair the new pickup, said Ford spokeswoman Elizabeth Weigandt.... Read More »

Porsche taps Cox unit to help manage off-lease portfolio

11:27 am U.S. ET | April 6, 2015

Porsche Cars North America Inc. has tapped a Cox Automotive software platform company to help it manage its off-lease portfolio.... Read More »

Buffett extends a hand to dealers -- 'If we shake hands, we've got a deal'

12:01 am U.S. ET | April 6, 2015

With the deeper pockets of Berkshire Hathaway Inc. now backing it, the former Van Tuyl Group intends to add dealerships going forward. "In the next couple of years, we're likely to make a number of acquisitions," Berkshire Hathaway Chairman Warren Buffett said last week.... Read More »

Dealers place bets on presidential election

12:01 am U.S. ET | April 6, 2015

It’s still early in the presidential election cycle, but the contest for dollars is well under way. Some high-profile auto dealers already have begun placing their political bets.... Read More »

Seminars tackle generation gap

12:01 am U.S. ET | April 6, 2015

Generation Y is projected to account for 40 percent of new-car purchases within the next five years. In June, Automotive News will launch a series of national seminars that will outline strategies focused on generational issues.... Read More »

Oil boom slows; techs return

12:01 am U.S. ET | April 6, 2015

Oil drillers are cutting production in response to lower crude prices, meaning fewer oil jobs. Some dealers in oil-laden states such as Texas, Oklahoma, Alaska, North Dakota and California say some of the service technicians who had fled for the rich-paying oil-industry jobs a few years ago are trickling back.... Read More »

BEST PRACTICES

Pa. dealership group gains from market-based pricing

12:01 am U.S. ET | April 6, 2015

Eighteen months after #1 Cochran Automotive launched a customer experience initiative centered on market-based pricing and transparency, the dealership group says its market share and customer satisfaction ratings are up. Employee turnover is down, and the company is hiring more people with experience outside the auto industry.... Read More »

Tesla blocked in W.Va. as governor signs bill

11:35 am U.S. ET | April 3, 2015

West Virginia Governor Earl Ray Tomblin today signed legislation that will effectively prevent Tesla Motors from selling cars in the strategically located state. West Virginia shares borders with five states and its easternmost county is considered a suburb of Washington, D.C.... Read More »

AutoNation CEO Jackson's 2014 compensation soars 69% to $10.6 million

1:33 pm U.S. ET | April 3, 2015

AutoNation CEO Mike Jackson’s overall compensation soared 69 percent to $10.6 million for 2014, up from $6.3 million for 2013, AutoNation said in its proxy filing released late Thursday.... Read More »

Federal-Mogul to launch national tech training program

10:08 am U.S. ET | April 3, 2015

Federal-Mogul, the powertrain and aftermarket parts supplier controlled by billionaire investor Carl Icahn, is launching a national automotive technician training program.... Read More »

CarMax will step up store-opening pace

3:46 pm U.S. ET | April 2, 2015

CarMax said will open 13 to 16 new used-only stores each of the next three fiscal years, starting with the one that began March 1. That is up from the 10 to 15 stores a year it has opened since the recession.... Read More »

AutoNation's March sales rise 5 percent

3:54 pm U.S. ET | April 2, 2015

AutoNation today said its new-vehicle retail sales rose 5 percent in March from a year earlier to 30,107 units. On a same-store basis, new retail sales rose 3 percent.... Read More »

Calif. dealers brace for curbs on water use

2:27 pm U.S. ET | April 2, 2015

California's new mandatory water-use restrictions will further strain auto dealers, who have already been impacted by a four-year drought. Governor Jerry Brown issued the restrictions in an executive order on Wednesday.... Read More »

NEAL E. BOUDETTE

BLOG: Why Honda's Mendel doesn't care about Nissan

12:20 pm U.S. ET | April 2, 2015

Nissan has outsold Honda in each of the last three months, but Honda's John Mendel isn't bothered by it. “I don't give a damn about Nissan,” the executive vice president of American Honda told reporters at a roundtable discussion after Honda unveiled a Civic coupe concept at the auto show here.... Read More »

IHS buys digital car-shopping behavior tracker Dataium

5:19 pm U.S. ET | April 1, 2015

Data and consulting powerhouse IHS Inc. has purchased the assets of Dataium, a small company that can see shopping behavior on dealer and carmaker websites to direct and measure the performance of ad and marketing campaigns.... Read More »

MARCH U.S. AUTO SALES

FCA, Toyota, Hyundai rise as industry ekes out another advance

8:30 am U.S. ET | April 1, 2015

U.S. auto sales rose for the 13th-straight month in March as the industry rode improving weather and strong truck sales to a slim advance despite declines by some major players.... Read More »

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Seattle VW dealer mixes metrics and fun

Seattle VW dealer mixes metrics and fun

Matthew Welch may own Auburn Volkswagen, but the title he cherishes is “chief relationship officer.' Mon., April 13
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