Dealers

SNAKEBIT

Dodge knocks off $15K to spur sales of pricey new Viper

12:01 am U.S. ET | Sept. 8, 2014
Since the Viper's reintroduction at the 2012 New York auto show, the sports coupe has moved fast everywhere except where it matters most: off dealer lots. Now Dodge has a plan to boost Viper sales.... Read More »

 

GM leads broad rise in M&A

GM dealerships' buy-sell activity jumps

12:01 am U.S. ET | Sept. 8, 2014
GM stores are by far the most sold and acquired in the dealership buy-sell market this year. Buy-sell expert Alan Haig says "it's a sign that their profits are strong, and buyers are seeing momentum in the GM brands that didn't exist in prior years."... Read More »

 

Dealers

12:01 am U.S. ET | Sept. 8, 2014
Dealers featured this week include Randy and Terry Hagen of Hillsboro Ford in Hillsboro, Kan.; Tony Mistlin, owner of Mistlin Honda in Modesto, Calif.; and Jim Cross, dealer principal at Land Rover Boise in Boise, Idaho.... Read More »

 

How to stop fraud

12:01 am U.S. ET | Sept. 8, 2014
Auto retailers can prevent fraud by recognizing certain customer clues, dealers and experts say.... Read More »

 

Report: Lenders keeping lid on risky business

12:01 am U.S. ET | Sept. 8, 2014
Experian's latest State of the Automotive Finance Market report, covering the second quarter, suggests lenders aren't headed down any slippery slopes when it comes to discipline.... Read More »

 

FOILING FRAUD

Phony deals cost dealers reputation, vehicles and lenders

12:01 am U.S. ET | Sept. 8, 2014
For employees in a dealership's finance and insurance office, spotting a potentially fraudulent deal is top priority. A mistake not only can cost a dealership a vehicle, it can hurt the store's reputation and its relationships with lenders. It's a challenge for all dealership groups.... Read More »

 

With digital data, DARCARS has F&I down to a science

12:01 am U.S. ET | Sept. 8, 2014
Finance and insurance managers at DARCARS Automotive Group have a digital Big Brother watching them, ready to spit out a minute-by-minute account of their customer interactions if their sales fumble.... Read More »

 

BEST PRACTICES

Hiking pay to get 'the pick of the crop'

12:01 am U.S. ET | Sept. 8, 2014
Earl Stewart Toyota in Lake Park, Fla., examined its pay scale this summer. The conclusion: not high enough. So it hiked its pay scale. For the lowest-paid employees, the change meant a 38 percent jump in their hourly rate.... Read More »

 

Credit unions take long-loan lead

12:01 am U.S. ET | Sept. 8, 2014
Credit unions are helping lead the charge into longer loan terms -- some longer than 84 months -- as customers seek to keep their monthly payments flat while taking out larger loans.... Read More »

 

Dealership buy-sell pace is hottest in years

12:01 am U.S. ET | Sept. 7, 2014
Dealership acquisitions continue to soar, positioning 2014 to be one of the most active years for buy-sells in more than a decade, say advisers who track transactions. Through July, private acquisition announcements in Automotive News more than doubled to 70 transactions from 32 in the year-earlier period, the midyear Haig Partners Blue Sky Report released last week said.... Read More »

 

NFL receiver, sidelined by a suspension, gets a car sales job

2:35 pm U.S. ET | Sept. 5, 2014
Suspended Cleveland Browns wide receiver Josh Gordon, known for dodging truck-sized NFL defenders, will try his hand at selling trucks -- and maybe some cars, too.... Read More »

 

GM headquarters wrapped up for GMC during 'Monday Night Football'

2:40 pm U.S. ET | Sept. 5, 2014
The signature element of Detroit's skyline -- GM's Renaissance Center headquarters -- is adorned with a massive GMC advertising wrap for the Detroit Lions' upcoming appearance on ESPN's “Monday Night Football” broadcast.... Read More »

 

CarMax recruiting for more than 1,000 jobs

6:33 pm U.S. ET | Sept. 3, 2014
CarMax said it is recruiting for more than 1,000 positions to fill across the country. The used-car retailer said in a statement Wednesday it is offering full- and part-time permanent positions.... Read More »

 

Audi, Porsche roll on; VW extends slump

12:00 pm U.S. ET | Sept. 3, 2014
New models fueled double-digit sales gains at Volkswagen Group of America's Audi and Porsche luxury brands, but not enough to offset ongoing weakness at the VW brand and buoy the German automaker's overall U.S. sales in August.... Read More »

 

Sales go from hot to hotter in 'almost' perfect month

4:44 pm U.S. ET | Sept. 3, 2014
Riding strong U.S. demand for crossovers and big pickups, automakers sold almost 1.6 million light vehicles in August, up 6 percent from a booming year-ago period. In August 2013, auto sales jumped 17 percent.... Read More »

 

Higher truck deliveries offset GM's weak car volume

12:00 pm U.S. ET | Sept. 3, 2014
GM's August sales were bad for market share but good for the bottom line. GM's deliveries last month fell 1 percent, as booming sales of the company's redesigned pickups and SUVs -- its most profitable models -- were offset by weaker crossover volume and another rough month for Cadillac.... Read More »

 

Ford F-Series sales slow prior to changeover

12:00 pm U.S. ET | Sept. 3, 2014
With Ford beginning the prolonged shutdown and changeover to the 2015 aluminum F-150, the company's F-series sales dropped 4 percent to 68,109 units in August.... Read More »

 

Nissan boosted 15% by multiple nameplates

12:00 pm U.S. ET | Sept. 3, 2014
Nissan Division reported rising U.S. demand in August across its product portfolio. The division sold 125,224 cars and light trucks last month in the United States, up 15 percent from August 2013. Multiple nameplates made significant gains, including the Versa subcompact, Sentra compact, Altima midsize sedan, Maxima large sedan, Rogue compact crossover and Leaf electric car.... Read More »

 

Accord volume hits record, topping Camry; American Honda remains flat for month

3:00 pm U.S. ET | Sept. 3, 2014
The Honda brand posted a 2 percent U.S. sales increase in August, only its third rise of the year and slightly topping its 1 percent downturn in year-to-date sales. But the credit belongs mainly to one standout: the Accord.... Read More »

 

Toyota rides truck wave to 6% gain

12:00 pm U.S. ET | Sept. 3, 2014
Toyota Motor Sales U.S.A. posted record SUV sales in August, including a 52 percent increase in RAV4 deliveries. The gains helped Toyota achieve a better-than-expected increase of 6 percent and outsell Ford Motor Co. to rank as the nation’s No. 2 automaker for the month.... Read More »

 

JAMIE LaREAU

Why more women are willing to haggle with dealers

2:57 pm U.S. ET | Sept. 3, 2014
Car dealers who believe that men like to haggle and women don't had better think again. A new study suggests that women are more keen than men to negotiate -- a reversal from just a couple of years ago.... Read More »

 

Auto lenders curb loans to least-creditworthy customers

11:07 am U.S. ET | Sept. 3, 2014
Auto lenders hit the brakes on loans to customers with subprime and deep subprime credit in the second quarter of 2014, according to Experian Automotive. Loans to those customers accounted for 15.1 percent of new-vehicle loans for the quarter.... Read More »

 

JIM HENRY

New rules for asset-backed securities could impact subprime lenders

12:01 am U.S. ET | Sept. 3, 2014
The Securities and Exchange Commission last week laid out new rules for asset-backed securities, the financial practice in which lenders bundle loans and sell them off to investors to raise money to fund new loans.... Read More »

 

Who’s responsible for passing along bad credit info?

12:01 am U.S. ET | Sept. 3, 2014
Will dealerships catch fallout from the Consumer Financial Protection Bureau’s consent order last month with First Investors Financial Services Group? Experts disagree, with some saying no and others suggesting at least indirect implications for dealerships.... Read More »

 

Q&A

Sonic’s EchoPark stores will use self-branded products, financing

12:01 am U.S. ET | Sept. 3, 2014
Sonic Automotive is negotiating with auto lenders and F&I product administrators to provide private-label retail financing and F&I products for its new EchoPark stand-alone used-car dealerships, says Jeff Dyke, Sonic’s executive vice president of operations.... Read More »

 

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Defying Dad, by building on his legacy

Defying Dad, by building on his legacy

At Courtesy Auto Group in Illinois, second-generation dealers Ray and Rik Fregia have seen a 30 percent boost in sales this year, thanks largely to million-dollar overhauls at their three stores. Mon., September 15
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