Dealers

SHAREHOLDER VALUE REPORT

Retailers, suppliers pace 2nd-quarter shareholder returns

12:01 am U.S. ET | July 27, 2015

Shareholder returns among global automakers in the second quarter drooped in a down global economy, but U.S. publicly owned retailers and global suppliers handily outperformed most indexes.... Read More »

BEST PRACTICES

Tomes' 10-foot rope a measure of success

12:01 am U.S. ET | July 27, 2015

At Bob Tomes' Ford and Subaru stores in McKinney, Texas, any staffer who gets within 10 feet of a customer must greet them and ask them about their experience and whether they can help. Workers are empowered to fix problems, and the customer satisfaction scores for the dealerships have gone up.... Read More »

Dealers

12:01 am U.S. ET | July 27, 2015

Dealers featured this week include members of the Brasher family at Brasher Motor Co. (Buick-Chevrolet-GMC) in Weimar, Texas; Hilary Haron and Randy Haron of Haron Land Rover in Fresno, Calif.; and Joseph Suresky, dealer principal of Suresky Hyundai in Goshen, N.Y.... Read More »

NADA to hold convention in Las Vegas every other year

8:33 pm U.S. ET | July 24, 2015

The National Automobile Dealers Association it will hold its annual convention in Las Vegas every other year through 2022, the association said Friday.... Read More »

TrueCar calls second quarter a 'wake-up call'; shares plunge

9:20 pm U.S. ET | July 23, 2015

TrueCar's CEO warned the online car-shopping company will miss its previous guidance on second-quarter earnings, calling the shortfall a “wake-up call to focus on the business.”... Read More »

FTC probes GM over possible CPO sales without recall fixes

6:03 pm U.S. ET | July 23, 2015

The Federal Trade Commission is investigating GM because some of its dealerships advertised certified used vehicles that hadn't received recall-related repairs.... Read More »

GM shrugs off China worries with $1.1B Q2 profit

7:45 am U.S. ET | July 23, 2015

GM's strong second-quarter results in China seemed to allay investors' concerns that a slowdown in Chinese demand would dent the company's bottom line. The automaker posted net income of $1.1 billion last quarter, fueled by strong demand for pickups and SUVs, and higher pretax profit and margins in China.... Read More »

Group 1 profit up 20% on record revenue

7:45 am U.S. ET | July 23, 2015

Group 1 Automotive reported strong second quarter earnings, thanks to rising vehicle sales and firm pricing in the U.S. and the United Kingdom, and improvements in its Brazilian division despite tough economic conditions in that country.... Read More »

VINCE BOND JR.

BLOG: Automakers should deploy mobile ads earlier in purchase cycle, Facebook study finds

9:00 am U.S. ET | July 23, 2015

A Facebook study finds automakers need to reach potential buyers in the digital realm, particularly on mobile devices, earlier in the purchase cycle.... Read More »

JAMES B. TREECE

BLOG: Group 1 makes terrific lemonade

1:03 pm U.S. ET | July 23, 2015

Don't feel sorry for Group 1 Automotive. They're doing just fine, thank you. More than fine, in fact.... Read More »

HANNAH LUTZ

BLOG: How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015

At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be.... Read More »

Lithia prepares for next acquisition

1:41 pm U.S. ET | July 22, 2015

Lithia Motors expects its DCH Auto Group division to acquire more stores in a major coastal market in the next few months.... Read More »

Sonic rethinks the appeal of captive finance arm

11:30 am U.S. ET | July 22, 2015

Wary of regulators, Sonic Automotive is slowing its plans to establish a captive finance arm. The Consumer Financial Protection Bureau’s investigations and citations of automakers’ finance arms have given Sonic pause.... Read More »

AutoNation's Q2 net rises 15%; revenue up 9%

8:00 am U.S. ET | July 22, 2015

AutoNation's net income rose 15 percent in the second quarter from the year-earlier period to $115.1 million. Revenue rose 9 percent to $5.22 billion, boosted by higher sales of premium luxury, domestic and import brands, and higher results in new vehicles, used vehicles, parts and service, and finance and insurance operations.... Read More »

A safer way to offer credit repair

11:30 am U.S. ET | July 22, 2015

New York's crackdown on dealerships and vendor Credit Forget It last month for a credit repair product the state considers illegal likely spurred some auto retailers to back away from credit repair altogether. But dealerships looking to retain customers with bad credit can still offer them credit repair services and stay on the right side of regulators.... Read More »

Chase Auto, Wells Fargo see rise in Q2 loan originations

11:30 am U.S. ET | July 22, 2015

Auto loan originations are rising at two of the nation’s biggest banks in auto lending. Chase Auto Finance and Wells Fargo generated more loans during the second quarter, although the growth in lending was bigger at Chase.... Read More »

Subprime auto-lending veteran calls longer loan maturities new normal

11:30 am U.S. ET | July 22, 2015

The man who created one of the biggest U.S. subprime lenders says there's nothing dangerous about borrowers being given longer car loans.... Read More »

Lithia's Q2 net jumps 34% on DCH purchase

9:19 am U.S. ET | July 22, 2015

Lithia Motors' second-quarter profit and revenue soared, largely because of its acquisition last year of DCH Auto Group along with improving new- and used-vehicle sales volumes.... Read More »

Jeep hacking prompts FCA software update to enhance security

4:15 pm U.S. ET | July 21, 2015

Fiat Chrysler released a security patch after friendly hackers exposed a startling vulnerability in the company’s Uconnect infotainment system. The hackers were able to shut down a Jeep SUV while it was traveling on the highway.... Read More »

Asbury Q2 net rises 14% on broad revenue gains

10:59 am U.S. ET | July 21, 2015

Asbury Automotive Group Inc.’s net income increased 14 percent in the second quarter to $41.1 million.... Read More »

VIDEO: Mass. dealer shatters stereotypes, grows group to advance careers

12:01 am U.S. ET | July 20, 2015

A strict dress code and a close-to-home expansion strategy geared toward promoting employees are hallmarks of Boston-area dealer Brian Kelly, who has spent a career “breaking the typical stereotypes associated with the automobile business.”... Read More »

Sonic Automotive's Q2 net drops 45%

11:45 am U.S. ET | July 20, 2015

Sonic Automotive's adjusted net income fell 45 percent in the second quarter, partly because of rising expenses related to the launch of the retailer's EchoPark standalone used-car stores, the company said today. New-vehicle sales and revenue also fell.... Read More »

FCA expands training network for Mopar techs

12:01 am U.S. ET | July 20, 2015

FCA plans to expand from 31 to at least 100 the number of post-secondary schools offering its Mopar warranty training for service technicians.... Read More »

BEST PRACTICES

Building a brand in the service department

12:01 am U.S. ET | July 20, 2015

A few years ago, Adam Silverleib found his family's Honda store facing a problem no dealer wants to confront: Not one but two new Honda dealerships were going to open within 15 miles of his Raynham, Mass., location. "So we had to take a new approach and create something that gives people a reason to come to Silko." That something turned out to be an offering called SilkoCare.... Read More »

Dealers will pay up for vendors' data access after CDK switch

12:01 am U.S. ET | July 20, 2015

CDK Global is copying the vendor-certification program of rival Reynolds and Reynolds, portending big monthly cost increases to dealers for data security.... Read More »

Automotive News Cover
News by Brand