Dealers

NAMAD's 2nd film chronicles history for next generation

12:01 am U.S. ET | Oct. 20, 2014
The nation's largest minority dealership group has released the second in what it hopes will be a series of documentaries chronicling the history of minority dealers in the United States. The National Association of Minority Automobile Dealers released Making Tracks II in September, about nine years after the first installment in 2005.... Read More »

 

Startups see opportunities flowing from data port

12:01 am U.S. ET | Oct. 20, 2014
Some startups, impatient with automakers' progress and promising to bring older vehicles into the data-driven age, are racing to market with hardware and apps that tap into the OBD-II diagnostic port built into all new U.S. light vehicles' dashboards beginning in 1996.... Read More »

 

MIKE WOOD: How hard are you willing to work?

12:01 am U.S. ET | Oct. 20, 2014
Long hours and hard work in the past few years turned Mike Wood from a dealership manager into a dealer with four stores. The market has been loaded with acquisition opportunities, he says, provided the buyer is willing to put in the sweat and hustle.... Read More »

 

JERRY VITZTHUM: Out, in and then back out again

12:01 am U.S. ET | Oct. 20, 2014
Ask former small-town car dealer Jerry Vitzthum whether the auto industry is better or worse today than it was before the national economic crisis, and he shrugs.... Read More »

 

FIVE-YEAR LOOK BACK

Dealers pursued opportunities from the rubble of '09

12:01 am U.S. ET | Oct. 20, 2014
In the five years that have passed since the economic crash of 2009, the auto retailing sector has emerged from the ashes. The transition has been painful. There are fewer car dealers in 2014. Many have been pressed by automakers to invest in new stores. But what was a bitter industry shakeout for some in 2009 has led to better times in auto retailing in 2014 for others.... Read More »

 

Dealers

12:01 am U.S. ET | Oct. 20, 2014
Dealers featured this week include Charles Day, dealer principal of Tower Ford in Coos Bay, Ore.; C. Taylor Andrews, Alfred Andrews and Elliott Andrews of Dayton Andrews Inc. (Chrysler-Dodge-Jeep-Ram) in Clearwater, Fla.; and Jeff Schmitt, dealer principal of Jeff Schmitt Nissan in Beavercreek, Ohio.... Read More »

 

JAMES B. TREECE

In praise of the Best Dealerships To Work For

3:07 pm U.S. ET | Oct. 17, 2014
The stores honored this week as the Best Dealerships To Work For retain employees at a rate that puts the industry to shame.... Read More »

 

Tesla blasts Michigan bill as 'raw deal'

2:31 pm U.S. ET | Oct. 17, 2014
Tesla says it's getting a “raw deal” in Michigan and is speaking out on a bill that would block its direct-sales model in the state -- and prevent it from operating a gallery. The bill cleared Michigan's legislative chambers October 2 and is awaiting the signature of Governor Rick Snyder.... Read More »

 

Chrysler recalls more than 900,000 vehicles for fire risk

7:59 am U.S. ET | Oct. 16, 2014
Chrysler Group is recalling more than 900,000 vehicles worldwide for potential safety problems that could cause fires. One recall covers some 470,000 cars and SUVs from model years 2011-14 and equipped with a 3.6-liter engine and 160 amp alternator, which may fail, possibly causing a stall or fire. A second recall covers 437,000 Jeep Wranglers -- water in the exterior heated power mirror electrical connector could cause an electrical short.... Read More »

 

Anti-Tesla bill reaches Michigan governor's desk

12:50 pm U.S. ET | Oct. 15, 2014
Legislation that would prevent Tesla Motors from directly selling its EV lineup in Michigan has cleared the state's legislative chambers and is awaiting the signature of Republican Governor Rick Snyder. The deadline to sign the bill is October 21.... Read More »

 

Lithia expects flat per-unit F&I revenue through 2015

12:01 am U.S. ET | Oct. 15, 2014
Lithia Motors expects average F&I revenue per vehicle retailed to stay flat through the rest of 2014 and 2015, at the current level of about $1,200 on a same-store basis. The retailer expects same-store average F&I revenue per unit of $1,202 in the third quarter.... Read More »

 

RICHARD JOHNSON

The joy of being a Jeep dealer in 2014

3:35 pm U.S. ET | Oct. 15, 2014
Holy Toledo, what's it like to be a Jeep dealer in 2014? Andy Shaver, president of the Shaver Group, just smiles when I ask. A smile that says: "Awesome and then some."... Read More »

 

TrueCar offers upfront pricing on document fees, dealer-added accessories

11:46 am U.S. ET | Oct. 15, 2014
TrueCar, bidding to increase transparency of vehicle transaction costs, said its 9,000 dealer franchisees agreed to reveal all vehicle accessory and nongovernmental document fees when guaranteeing prices to TrueCar shoppers... Read More »

 

Wells Fargo, Chase boost auto lending

12:01 am U.S. ET | Oct. 15, 2014
Wells Fargo expects to keep its position as the No. 1 U.S. auto lender by volume as auto lenders report third-quarter results.... Read More »

 

CFPB faces legal hurdle in regulating F&I products

12:01 am U.S. ET | Oct. 15, 2014
It’s clear the Consumer Financial Protection Bureau would like to increase regulation of what it calls “add-on” F&I products such as extended-service contracts and GAP. But it’s less clear whether the bureau can find the legal grounds to do it, a former CFPB official says.... Read More »

 

Colorado Ford, Subaru dealer Carlson in line to become '16 NADA chairman

4:03 pm U.S. ET | Oct. 14, 2014
The National Automobile Dealers Association chose Colorado dealer Jeff Carlson as its next vice chairman, putting him in line to become chairman after Bill Fox of New York, who -- as expected -- will be NADA's 2015 chairman.... Read More »

 

DAVID BARKHOLZ

Why Dale Pollak recommends a call center that employs blind workers

6:42 am U.S. ET | Oct. 14, 2014
Near the end of a conference in Chicago, vAuto founder Dale Pollak made a very personal appeal to the 170 hand-picked dealers present. Please consider, Pollak said, signing up for call center services from a nonprofit in Florida that employs blind and visually impaired people to handle calls for private companies.... Read More »

 

How to navigate the incentives maze

12:01 am U.S. ET | Oct. 13, 2014
From cash rebates to discount financing to lease subvention deals, complex automaker incentive programs keep dealership F&I departments constantly on their toes to find car buyers the best deals. That vigilance is poised to become even more critical as manufacturers beef up offerings. The stakes for dealerships are high.... Read More »

 

Hyundai makes diversity key part of business plan

6:55 pm U.S. ET | Oct. 13, 2014
Under CEO Dave Zuchowski, Hyundai Motor America has made diversity a key objective of the company's business plans with clear-cut goals in areas such as hiring, the automaker's retail network, suppliers, marketing and advertising. Employees in every department are held accountable for meeting the objectives.... Read More »

 

Lithia predicts Q3 net income gain despite lower used-car profits

2:19 pm U.S. ET | Oct. 13, 2014
Lithia Motors expects to report a gain in third-quarter unadjusted net income, boosted by improved new-vehicle sales, service and parts business and F&I revenue, it said in a statement today. But Lithia said its third-quarter operating income was mitigated in part due to narrowing used-car profit margins because of a dip in used-car values.... Read More »

 

How dealers can block automakers' right of first refusal

3:32 pm U.S. ET | Oct. 13, 2014
With automakers increasing their use of right of first refusal in buy-sell deals, some dealers want to structure transactions to effectively block its use. But they must be watchful about how they do it, dealership buy-sell advisers and dealer lawyers say.... Read More »

 

Exit strategy on Buffett deal? Not so fast, says Larry Van Tuyl

2:24 pm U.S. ET | Oct. 13, 2014
Selling to a highly respected outside investor such as Warren Buffett may have been the ideal exit strategy for Van Tuyl Group -- and one of the few exit paths available to such a large automotive retailer these days, said some dealership buy-sell advisers. But Larry Van Tuyl doesn’t see it that way.... Read More »

 

What, me worry? Hendrick says deal-hungry Buffett won't keep him from buying

12:01 am U.S. ET | Oct. 13, 2014
Car dealer Rick Hendrick has a message for auto retailers looking to sell their family business: He's still buying.... Read More »

 

Dealership consolidation is coming -- but how fast and how much?

12:01 am U.S. ET | Oct. 13, 2014
Dealership consolidation is expected to accelerate as Warren Buffett's entry into automotive retailing attracts more buyers, observers said.... Read More »

 

While you wait for service, make yourself at home

12:01 am U.S. ET | Oct. 13, 2014
Large, elaborate and packed with people -- that's what dealerships' service department waiting rooms are becoming, said Forrest McConnell, chairman of the National Automobile Dealers Association, last week.... Read More »

 

Special Report
How #1 store scores with employees

How #1 store scores with employees

Texas dealer Greg May encourages staffers to provide input and solve problems on their own. Mon., October 20
» Watch the Video
     
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