Dealers

Buffett to buy Van Tuyl dealership group, create Berkshire Hathaway Automotive

8:40 am U.S. ET | Oct. 2, 2014
Warren Buffett's Berkshire Hathaway Inc. agreed to buy Van Tuyl Group, the largest privately owned U.S. auto dealership group. The business, with 75 dealerships, will be renamed Berkshire Hathaway Automotive and will continue to be run by Larry Van Tuyl.... Read More »

 

Ford Credit rolls out 75-month loans nationwide

12:01 am U.S. ET | Oct. 1, 2014
Ford Motor Credit has joined the trend toward longer loans, rolling out 75-month terms nationwide starting today. The company previously had conducted a pilot program.... Read More »

 

Lithia completes purchase of DCH Auto Group

5:48 pm U.S. ET | Oct. 1, 2014
Lithia Motors said it completed the purchase of DCH Auto Group, one of the largest buy-sell deals between dealership groups in recent history.... Read More »

 

Dealer software provider CDK goes public as it spins off from ADP

11:24 am U.S. ET | Oct. 1, 2014
CDK Global, formerly ADP Dealer Services, went public Tuesday as part of being spun off by parent Automatic Data Processing Inc., CDK Global announced today.... Read More »

 

Chrysler Capital lowers rate cap on dealer reserve

12:01 am U.S. ET | Oct. 1, 2014
Chrysler Capital is cutting its maximum permissible dealer reserve to 175 basis points, or 1.75 percentage points, effective today. The previous maximum was 200 basis points. Chrysler Capital, which provides full-service financing to Chrysler Group dealerships, notified retailers of the change in a fax last week.... Read More »

 

Is it wise to keep putting the car before the cash?

12:01 am U.S. ET | Oct. 1, 2014
Dealerships can and should take some of the risk out of making spot deliveries, experts say.... Read More »

 

Q&A

F&I managers need intelligence, empathy -- and good training

12:01 am U.S. ET | Oct. 1, 2014
Today’s all-out emphasis on regulatory compliance has led to the biggest change in F&I training in recent memory, says Robert Serum, a career educator in dealership operations. The biggest F&I hurdle, though, remains the same, he says: The need for dealerships to find the right person to head the department.... Read More »

 

Ford brings new F-150 to dealers, consumers for test drives

12:30 am U.S. ET | Sept. 29, 2014
Ford is demonstrating the capabilities of its redesigned, aluminum-bodied 2015 F-150 pickup to dealership sales personnel and consumers. Sales consultants in 26 cities have begun testing the new truck and its features in a program called the “Built Ford Tough Roundup.”... Read More »

 

Cadillac prepares dealers for a jolt

12:01 am U.S. ET | Sept. 29, 2014
New Cadillac boss Johan de Nysschen’s philosophy of creating some scarcity for a product that often has been the focus of discount sales will come as a blow to some U.S. dealers. And according to one attendee at the brand’s annual gathering last week, dealers were told “things are going to get worse before they get better.”... Read More »

 

NADA tells Nissan to butt out of dealer surveys

12:01 am U.S. ET | Sept. 29, 2014
The National Automobile Dealers Association has rapped Nissan's knuckles for "actions by some Nissan representatives" to boost scores in a survey of dealer attitudes toward automakers.... Read More »

 

BEST PRACTICES

L.A. retailer knows the value of a good name

12:01 am U.S. ET | Sept. 29, 2014
The adage that success is about "location, location, location" certainly applies to Honda of Los Angeles. But that was difficult to see three years ago. The store, which is booming now, was boarded up and in bankruptcy court in 2011.... Read More »

 

Dealers

12:01 am U.S. ET | Sept. 29, 2014
Dealers featured this week include Frank Coffman, dealer principal of Coffman GMC in Aurora, Ill.; Corky Wedell of Town North Mazda in Richardson, Texas; Barry Nelson, owner of GR Chevrolet in Stanleytown, Va.; and Dan Rowe, dealer principal at Evergreen Ford-Lincoln in Issaquah, Wash.... Read More »

 

M-B will train 26,000 in the brand's culture

12:01 am U.S. ET | Sept. 28, 2014
Mercedes-Benz USA and its dealers are spending about $30 million over the next four years to train 26,000 dealership, corporate and finance employees and immerse them in the brand's culture.... Read More »

 

Mercedes sees GLA crossover drawing more new U.S. buyers to brand than CLA

12:41 pm U.S. ET | Sept. 26, 2014
Mercedes-Benz expects its new GLA compact crossover that went on sale this week to draw even more entry-level buyers to the brand than the year-old CLA compact sedan has done.... Read More »

 

Iowa pulls the plug on Tesla test drives

4:10 pm U.S. ET | Sept. 26, 2014
Tesla Motors cut short a test-drive event in Iowa earlier this month after state regulators said the electric-vehicle maker was improperly acting as a dealer.... Read More »

 

JAMIE LaREAU

How to drive dealers back to Washington, D.C.?

2:03 pm U.S. ET | Sept. 26, 2014
Martens Volvo-Volkswagen were the first car dealerships in Washington, D.C. – and the last.... Read More »

 

SEPTEMBER U.S. AUTO SALES

Post-holiday sales volume remains strong, analysts say

3:30 pm U.S. ET | Sept. 25, 2014
September U.S. auto sales are expected to come in about 10 percent higher than a year ago, according to four analysts' estimates, with no sign of a typical post-Labor Day slowdown. With three months to go, analysts are increasingly confident that total industry sales for the year will reach at least 16.4 million. LMC Automotive and Kelley Blue Book each raised their 2014 forecast to that level today, matching TrueCar and Edmunds.com. That would represent a 5 percent gain from 2013.... Read More »

 

AutoNation partners with Hennessey on performance upgrades

4:13 pm U.S. ET | Sept. 24, 2014
AutoNation, in a move to cater to the tuner crowd, began providing customers with performance upgrades at its 27 Chevrolet dealerships this month through a new partnership with aftermarket tuning house Hennessey Performance.... Read More »

 

Share of CarMax sales financed with subprime loans declines

12:01 am U.S. ET | Sept. 24, 2014
The percentage of CarMax vehicles purchased with loans from lenders that specialize in subprime loans dropped almost 5 percentage points in the company’s fiscal quarter that ended Aug. 31. But don’t read too much into that, the company says.... Read More »

 

Q&A

CFPB’s new rule ups costs for small lenders, creates unlevel field

12:01 am U.S. ET | Sept. 24, 2014
The Consumer Financial Protection Bureau’s proposed new rule extending its jurisdiction to include “larger participant” nonbank auto lenders has some shortcomings, says Bill Himpler, executive vice president of the American Financial Services Association.... Read More »

 

Auto finance growth expected to boost car sales into 2015

12:01 am U.S. ET | Sept. 24, 2014
The growth in U.S. auto sales has slowed but a healthy auto loan and lease environment should continue to support higher sales the rest of this year and next, Moody's Analytics says.... Read More »

 

JIM HENRY

Auto finance industry still paying for past sins

12:01 am U.S. ET | Sept. 24, 2014
Consumer Financial Protection Bureau regulators seem to have a caricature of a plaid, polyester sport coat-wearing car salesman in mind when they talk about auto retailing.... Read More »

 

How F&I managers can stay credible with 6 key audiences

12:01 am U.S. ET | Sept. 24, 2014
The customer is only one of a half-dozen audiences F&I managers need to maintain credibility with if they want to be successful, F&I trainer Tony Dupaquier says.... Read More »

 

Credit unions take long-loan lead

12:01 am U.S. ET | Sept. 24, 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 »

 

CarMax reports double-digit increases in Q2 revenue, profit

8:19 am U.S. ET | Sept. 23, 2014
CarMax Inc., the largest U.S. used-car retailer, reported a 11 percent rise in quarterly revenue as easier availability of credit boosted car sales.... Read More »

 

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