Dealers

Study slams CFPB's proxy methodology

12:01 am U.S. ET | Nov. 23, 2014
The statistical method the Consumer Financial Protection Bureau uses to identify which consumers belong to minority groups correctly identified African-American borrowers only 24 percent of the time. That was one of the findings of a nearly yearlong study commissioned by the American Financial Services Association, a lender group with offices in Washington.... Read More »

 

Toyota to recall 422,000 Lexus vehicles in U.S. due to fuel leak

11:42 am U.S. ET | Nov. 21, 2014
Toyota will recall 422,509 of its luxury brand Lexus vehicles in the United States because of a possible fuel leak that increases the risk of fire, federal regulators said today.... Read More »

 

GABE NELSON

Fisker flexes muscle with coachbuilt 725-hp Mustang

2:55 pm U.S. ET | Nov. 20, 2014
Henrik Fisker, the Danish designer behind the Aston Martin DB9, BMW Z8 and the ill-fated Fisker Karma plug-in hybrid, apparently can design an American muscle car, too.... Read More »

 

ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014
There is no subprime auto loan bubble, darn it. That message came through loud and clear in session after session during the recent Used Car Week conference sponsored in Las Vegas.... Read More »

 

More car buyers are OK with dealer texting, survey says

2:20 pm U.S. ET | Nov. 19, 2014
Dealers who want to best engage with tech-savvy buyers should try text messaging to communicate, according to survey results released today.... Read More »

 

New study slams CFPB methodology

12:01 am U.S. ET | Nov. 19, 2014
The statistical method the Consumer Financial Protection Bureau uses to identify which consumers belong to minority groups correctly identified African-American borrowers only 24 percent of the time.... Read More »

 

AutoNation to add branded F&I products next year

12:01 am U.S. ET | Nov. 19, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront. The nation’s largest dealership group also is contemplating AutoNation-branded finance and lease contracts and whether to set up its own captive finance company... Read More »

 

Demand for faster deals could speed e-contracting

12:01 am U.S. ET | Nov. 19, 2014
Dealerships are trying hard to speed sales transactions, and that may give a shot in the arm to electronic signatures and e-contracting for auto loans, experts say.... Read More »

 

JIM HENRY

Free advice for consumers can be worth the price

12:01 am U.S. ET | Nov. 19, 2014
There’s a bright spot for dealerships that do a lot of business with automakers’ captive finance companies and preferred lenders, data on the website Wallet Hub show: Car manufacturers (that is, captives) charge the lowest auto loan rates for new cars, at 40 percent below average.... Read More »

 

Technology training can help close a sale, AutoTrader.com says

10:39 am U.S. ET | Nov. 18, 2014
As automakers incorporate in-vehicle technology features in more models, dealers have to find a way to sufficiently teach customers how to use the new tools, AutoTrader said in a report.... Read More »

 

NADA sees 2015 U.S. sales nearing 17 million vehicles

12:45 pm U.S. ET | Nov. 17, 2014
Continued economic improvement, low interest rates and cheap gasoline will help new-vehicle sales rise more than 3 percent to nearly 17 million units next year, the most since 2005, according to forecasts from the National Automobile Dealers Association.... Read More »

 

How 3 dealerships are connecting with tech-savvy shoppers

12:01 am U.S. ET | Nov. 17, 2014
Three dealers have found ways to forge bonds with car shoppers who are short on time and long on Web smarts. A Honda store has mobilized a young sales team hired from Starbucks and Best Buy. A Mercedes store has a special "honeymoon" tool kit for boosting online ratings. And a photo-friendly Audi store is snapping its way to more Internet leads.... Read More »

 

Financial openness can beat the lowest pricing, dealer says

12:01 am U.S. ET | Nov. 17, 2014
Customers who apply for vehicle financing on driversselect.com get real information about interest rates, down payments and monthly payments that holds up once they arrive at the Dallas used-only dealership. CEO Steve Hall says many dealers don't find it easy to give out so much information online. But transparency builds trust, he said.... Read More »

 

Toyota sees fuel cell car, priced at $57,500, gaining traction in small steps

8:00 pm U.S. ET | Nov. 17, 2014
Toyota said it plans to sell close to 200 of its Mirai -- it means “future” in Japanese -- fuel-cell sedans when it goes on sale in California in late 2015, and 3,000 units by the end of 2017 as it expands marketing to cover the Northeast U.S.... Read More »

 

Manheim stocks used cars for Sonic

12:01 am U.S. ET | Nov. 17, 2014
Sonic Automotive is contracting with Manheim to buy and stock used vehicles at a new-car store near Denver as part of an unprecedented pilot program.... Read More »

 

Takata airbag death linked by lawsuit to delay in Honda alert

3:34 pm U.S. ET | Nov. 17, 2014
Honda's U.S. unit advised dealers not to contact customers about a potentially fatal defect because of a parts shortage, one week before shrapnel from an exploding airbag left a woman looking as if she had been killed with a knife, lawyers for her family said.... Read More »

 

JOINING THE CLUB

Lincoln dealers sign up to offer exclusive Black Label series

12:01 am U.S. ET | Nov. 17, 2014
Lincoln has signed up 32 dealers in six states for its new Black Label luxury subfranchise. Lincoln announced the Black Label series last year in an effort to set a new standard for luxury vehicles and customer service within the brand.... Read More »

 

AutoNation's plan to change the retail game

12:01 am U.S. ET | Nov. 17, 2014
By the end of 2015, AutoNation customers will be able to finance and buy a car online -- even signing the paperwork electronically from home, says AutoNation CEO Mike Jackson. That's the promise of a $100 million-plus investment to establish the AutoNation brand and transform the company's websites from informational to transactional.... Read More »

 

3rd-party partners? Why AutoNation said no

12:01 am U.S. ET | Nov. 17, 2014
Before moving away from third-party lead providers earlier this year, AutoNation Inc. explored whether those companies could help the retailer seamlessly connect its online and brick-and-mortar operations.... Read More »

 

LETTER TO THE EDITOR

A retail system can work for Tesla

12:01 am U.S. ET | Nov. 17, 2014
There is solid logic in having Tesla's growth channeled through a retail system that can expand quickly and give the consumer a first-rate shopping and ownership experience.... Read More »

 

How remarketers get the most from off-lease vehicles

12:01 am U.S. ET | Nov. 17, 2014
With the number of off-lease vehicles returning to the market expected to rise steadily and sharply over the next several years, automakers say it is crucial to have programs that enable them and their dealers to sell used vehicles quickly and for as much money as possible.... Read More »

 

Dealers

12:01 am U.S. ET | Nov. 17, 2014
Dealers featured this week include William Schicker, dealer principal at Ford Groves in Cape Girardeau, Mo.; Ken Dinsmore, dealer principal at Milam Mazda in Puyallup, Wash.; Gary Drewing, president of Joe Machens Toyota-Scion in Columbia, Mo.; and Michael Cantanucci, dealer principal of New Country Toyota & Scion of Saratoga Springs in Saratoga Springs, N.Y.... Read More »

 

BEST PRACTICES

Jeep history goes underground

12:01 am U.S. ET | Nov. 17, 2014
Many dealers collect historic vehicles, and some even display vintage cars in their showrooms. But one dealership in Hamilton, Ontario, has found a way to make a World War II-era Willys MB Jeep the centerpiece of its showroom -- without sucking up valuable indoor display space.... Read More »

 

What is a recall? Automakers confuse drivers in deadly airbag saga

10:48 am U.S. ET | Nov. 16, 2014
More than 17 million cars with Takata airbags have been recalled worldwide, including over 11 million in the United States. But that number represents a patchwork of confusing safety messages to drivers: "safety improvement campaigns," informal "regional recalls," and formal recalls of certain models rather a consistent national action. The mixed messages make owners wonder how worried they should be.... Read More »

 

Ernie Boch confuses, charms presidents

12:01 am U.S. ET | Nov. 15, 2014
Even when meeting former presidents, Boston-area dealer and Subaru distributor Ernie Boch dresses like a rock star.... Read More »

 

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How 3 dealerships are connecting with tech-savvy shoppers

How 3 dealerships are connecting with tech-savvy shoppers

Three dealers have found ways to forge bonds with car shoppers who are short on time and long on Web smarts. A Honda store has mobilized a young sales team hired from Starbucks and Best Buy. Mon., November 17
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