Dealers

Dilawri Group expands rapidly in Canada

12:01 am U.S. ET | Feb. 23, 2015
Privately held Dilawri Group of Cos., Canada's largest dealership group by store count, is in rapid expansion mode. Dilawri, of Toronto, expanded into Quebec in January and since then opened a second dealership in the province with a third, in Montreal, slated to open by the end of the first quarter.... Read More »

 

TrueCar's new pitch: Factory coupons for shoppers

12:01 am U.S. ET | Feb. 23, 2015
TrueCar Inc. spent the past two years rebuilding relations with dealers. Now the vehicle-shopping site is turning its attention to automakers to boost sales. TrueCar is forming a council of manufacturer executives, similar to its dealer council, to advance its Live Prospect product, TrueCar President John Krafcik said.... Read More »

 

Tesla: The one company that can get Kochs, Sierra Club to see eye to eye

12:01 am U.S. ET | Feb. 23, 2015
The Koch brothers' businesses market fossil fuels and turn forests into toilet paper. The Sierra Club, well, doesn't do those things. But on this much they agree: Tesla should be able to sell its electric cars directly to consumers.... Read More »

 

Porsche dealers eager to upgrade

12:01 am U.S. ET | Feb. 23, 2015
About 150 of the 189 U.S. Porsche dealerships are renovating or expanding as the brand's sales have soared. Porsche Cars North America wants additional showroom and service space from dealers to accommodate the growing number of nameplates in its lineup and the additional vehicles on the road.... Read More »

 

Porsche may close a few U.S. dealerships

12:01 am U.S. ET | Feb. 23, 2015
A handful of U.S. markets still have too many Porsche dealerships, Porsche Cars North America COO Joe Lawrence said, and the company may use its right of first refusal to close stores. But given Porsche's sales growth and the valuations of its dealerships, consolidation in those markets will be difficult.... Read More »

 

Lithia launches pay plan to retain top store managers

12:01 am U.S. ET | Feb. 23, 2015
Lithia Motors Inc. has started a new program that identifies top managers and gives them increased stock ownership in lieu of cash. The goal is to retain top talent and improve store performance, says Lithia CEO Bryan DeBoer.... Read More »

 

BEST PRACTICES

Helping hand for minority dealer hopefuls

12:01 am U.S. ET | Feb. 23, 2015
Bill Perkins knows how hard it is to get a dealership and to succeed. He lasted one year in his first store. But when he later acquired a dealership in suburban Detroit, other dealers helped him. That made the difference. Perkins has picked up the mantle, mentoring and training others, mostly African Americans, to become dealers. Perkins believes in minority dealers training other minorities to create a mutual support system.... Read More »

 

Silver dealer

Dealers

12:01 am U.S. ET | Feb. 23, 2015
Dealers featured this week include Howard Braunstein, president of M&M Auto Group in Liberty, N.Y.; Peter Hoffman, dealer at Sierra Honda in Monrovia, Calif.; Jeff Crippen, dealer principal at Crippen Mazda in Lansing, Mich.; George Grubbs Jr., dealer principal at Grubbs Infiniti in Euless, Texas; and John Morlan, dealer principal at Toyota of West Plains in West Plains, Mo.... Read More »

 

Salvage auction does a bang-up business

12:01 am U.S. ET | Feb. 23, 2015
Salvage auto-auction company Insurance Auto Auctions Inc., sibling to auction giant ADESA, has been on a growth spurt since December 2013. In that time, it has opened, acquired, reopened, moved or expanded sites in 13 markets. The moves were necessary to meet the demand of quickly disposing of wrecked vehicles, says CEO John Kett.... Read More »

 

HANS GREIMEL

Japan Toyota dealer hits 2 million milestone

9:28 am U.S. ET | Feb. 20, 2015
Nagoya Toyopet sold its 2 millionth new Toyota vehicle on Monday, making it the first independent retailer from Japan’s top manufacturer to reach that rarified stratosphere.... Read More »

 

Tesla could open up to 12 Texas stores if legislation passes

11:28 am U.S. ET | Feb. 20, 2015
Tesla may be able to open up to 12 stores in Texas, if a group of state legislators gets its way. Under current state law, customers can purchase new vehicles only through a franchised dealership. The bills would allow customers to purchase vehicles directly from the manufacturer.... Read More »

 

TrueCar to stress mobile shopping as revenue surges

7:51 pm U.S. ET | Feb. 19, 2015
TrueCar is rebuilding its computer interface around mobile car-shopping to seize on a pronounced trend in its traffic volume, CEO Scott Painter said. In January for the first time, 50 percent of shoppers on TrueCar’s website got there via a mobile device, Painter said; that figure is expected to grow to 90 percent in 18 months.... Read More »

 

Auto originations advance 17%; 90-day delinquencies tick up in Q4, Fed says

11:00 am U.S. ET | Feb. 18, 2015
Auto originations rose a robust 17 percent in the fourth quarter, while accounts considered seriously delinquent ticked up slightly, according to the New York Federal Reserve. Loan and lease originations for new and used cars reached $102 billion in the fourth quarter, up from $87.5 billion in the year-earlier period... Read More »

 

JIM HENRY

GM Financial-Chevy lease exclusivity seems likely

11:15 am U.S. ET | Feb. 18, 2015
There wasn't much doubt, but General Motors disclosed for the first time in an SEC filing that it is considering plans to throw all Chevrolet lease incentives to GM Financial instead of sharing them among GM Financial, Ally Financial and U.S. Bank.... Read More »

 

Q&A

JM&A is in growth mode

11:00 am U.S. ET | Feb. 18, 2015
F&I product vendor JM&A Group sold a record 3.2 million contracts in 2014. That was up from 3 million contracts in 2013 and 2.5 million in 2012. And the company is looking for about 6 percent growth in 2015, President Forrest Heathcott says.... Read More »

 

JAMIE LaREAU

Are flat finance fees inevitable? How to lessen the blow

11:30 am U.S. ET | Feb. 18, 2015
Flat finance fees are coming. And if you now derive more than 40 percent of your F&I revenue per vehicle from a finance reserve, you're in trouble.... Read More »

 

New name, growth for Citizens' auto lending channel

11:00 am U.S. ET | Feb. 18, 2015
RBS Citizens Auto Finance is now Citizens One Auto Finance. Parent Citizens Financial Group dropped the acronym RBS, for Royal Bank of Scotland, from the name of its growing auto loan channel effective this month.... Read More »

 

JAMIE LaREAU

Buyers make big bets on dealerships in a seller's world

9:55 am U.S. ET | Feb. 18, 2015
You know it is a seller's market when the seller can dictate all the shots, and I mean all the shots. I was speaking to a buy-sell adviser this week, who shared an unsolicited anecdote because this adviser was so awe struck by it.... Read More »

 

Chrysler brand head Gardner's duties will include dealer network

3:58 pm U.S. ET | Feb. 17, 2015
Fiat Chrysler Automobiles has appointed current Chrysler brand head Al Gardner to replace Peter Grady as vice president of its dealer network when Grady retires at the end of March, the automaker said today.... Read More »

 

Tesla joined by Koch Brothers, Sierra Club in fight with dealers

3:47 pm U.S. ET | Feb. 17, 2015
Talk about strange bedfellows. The environmental group Sierra Club and Americans for Prosperity, the political action group funded by the Koch brothers, are both backing Tesla Motors in its battle to avoid franchised dealers and sell cars direct to consumers.... Read More »

 

Valet car-hauling program fills service bays

12:01 am U.S. ET | Feb. 16, 2015
Dublin, Ohio, may still feel like a small town. But it is big when it comes to repairing pricey cars, thanks to the Midwestern Auto Group. The dealership's valet service coddles Astons, Bentleys, Ferraris and more as they are trucked in from five states. The program has also spawned ties to local high schools that serve as a talent pool for a booming parts and service business.... Read More »

 

Lithia, DCH build on the other's strengths

12:01 am U.S. ET | Feb. 16, 2015
Just over four months after Lithia Motors closed on its deal to buy DCH Auto Group's 27 dealerships, the two groups are busy sharing best practices and instituting a new culture at DCH.... Read More »

 

Subaru ranks high in dealer attitude survey

12:01 am U.S. ET | Feb. 16, 2015
Subaru ranked third overall in the Summer 2014 NADA Dealer Attitude Survey, behind Lexus and Toyota and ahead of Porsche and Ford.... Read More »

 

Tell us about dealership rising stars under age 40

12:01 am U.S. ET | Feb. 16, 2015
Are you a rising star at an auto dealership? Or do you know someone who is? For the fourth year, Automotive News will spotlight these youthful achievers in "40 Under 40 Retail," a special section in the July 13 issue. This year, Ally Auto is the exclusive lead sponsor of the retail award.... Read More »

 

Car dealer wannabes must pay the price

12:01 am U.S. ET | Feb. 16, 2015
Last month medical industry entrepreneur Taseer Badar became a dealer the way most do these days: by forking out huge sums, in this case to Gerald Hollingsworth for his Mercedes-Benz, BMW and Mazda stores. The deal illustrates the twists and big bucks involved in buy-sells today.... Read More »

 

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