Dealers

FCA outsells Ford on retail side for first time? Not so fast

1:30 pm U.S. ET | July 2, 2015

June wasn't the first month that Fiat Chrysler outsold its bigger rival Ford on a retail basis in the U.S. In fact, it's happened at least twice before, says FCA -- once in November 2006, and again during one of the most tumultuous months for the industry in recent history, February 2009.... Read More »

JUNE U.S. AUTO SALES

Trucks drive sales up 3.9%; SAAR hits 17.16 million

8:30 am U.S. ET | July 1, 2015

U.S. light-vehicle sales, fueled by strong truck volume at Nissan, Fiat Chrysler, Honda and Toyota, rose 3.9 percent last month as the industry continued to climb toward one of its biggest sales years ever. The seasonally adjusted sales rate came in at 17.16 million, slightly below forecasts, and down from May's 17.78 million rate but higher than the 16.91 million pace set in June 2014.... Read More »

Honda posts 4.2% U.S. gain in June

4:30 pm U.S. ET | July 1, 2015

Sales at American Honda rose 4.2 percent in June, thanks to robust Honda truck volume and a strong performance by Acura's sedans, a rare bright spot among cars across an industry riding a wave of light-truck sales.... Read More »

Ford expects second-half rally for F series as inventory builds

11:00 am U.S. ET | July 1, 2015

Ford posted a 1.5 percent increase in U.S. light-vehicle sales last month, even as F-series deliveries declined to the lowest level since January.... Read More »

Strong truck volume helps Toyota offset weak car demand

3:30 pm U.S. ET | July 1, 2015

Toyota Motor Sales, boosted by strong light-truck volume, rebounded from a sales decline in May to post a 4.1 percent jump in June deliveries.... Read More »

FCA up 8.2% on strong Jeep, Chrysler 200 sales

9:00 am U.S. ET | July 1, 2015

The Jeep brand and the Chrysler 200 both helped push Fiat Chrysler's June sales up 8.2 percent, the automaker's best sales for the month of June since 2006. FCA US said it had 185,035 sales in June, its 63rd consecutive month of year-over-year sales gains.... Read More »

Honda, Toyota, Nissan captives face charges of discrimination, report says

12:00 pm U.S. ET | July 1, 2015

The captive finance arms of Honda, Toyota and Nissan may have to limit how much they allow dealers to increase the cost of auto loans after regulators accused the lenders of unintentional discrimination against minority consumers. The CFPB plans to cite American Honda Finance, Toyota Motor Credit and Nissan Motor Acceptance as early as this month for unintentional discrimination, according to consent orders American Banker obtained.... Read More »

Rogue fires up Nissan sales

2:30 pm U.S. ET | July 1, 2015

Nissan Division posted a June sales record, gaining 13 percent over last year, thanks to big demand for its Rogue compact crossover. The brand is now looking for more production volume for the model -- which is already coming from three factories.... Read More »

GM tally dented by pullback in fleet business

11:00 am U.S. ET | July 1, 2015

A steep drop in sales to rental companies in June magnified General Motors' weak car sales, which sank 15 percent through the first half of the year.... Read More »

Dealers feel the need for speed in F&I

11:00 am U.S. ET | July 1, 2015

Where do you see the greatest opportunity for improvement in your dealership's F&I operations? Asked that question, Mary Byrne, a one-time retired dealer who now is the general manager of Bruce Titus Automotive Group, didn't hesitate. “It's speed,” she said.... Read More »

Despite convenience, electronic registration is tough sell in many states

11:15 am U.S. ET | July 1, 2015

In 28 states, car buyers can drive off dealers' lots with their license plates in position and registration forms in hand, thanks to electronic registration at dealerships. But even with the benefits, some experts doubt that e-registration will adopt a convenient national standard or even become mandatory in all states because of legal barriers and insufficient sales in various states to justify the expense of establishing it.... Read More »

After 18 months, CFPB readies to reimburse Ally customers

11:30 am U.S. ET | July 1, 2015

In early 2014, Ally Financial, as part of a settlement over alleged discrimination in auto lending, submitted a list of potentially affected customers to the Consumer Financial Protection Bureau -- along with $80 million to be reimbursed to those customers. Now, roughly a year and a half later, the CFPB plans to begin contacting those customers in upcoming weeks to determine who gets the money.... Read More »

Q&A

What Tuttle-Click stores look for in lenders

11:00 am U.S. ET | July 1, 2015

Bill Paschen, finance director at Tuttle-Click Automotive Group, says the ideal lender offers aggressive programs to help sell light vehicles, help dealers make money on the back end, and is available by phone when needed. But he says most lenders still don't fully understand the importance dealers place on making money on finance and insurance products.... Read More »

RICHARD TRUETT

BLOG: The (technology) pluses and minuses of a GM-FCA deal

11:15 am U.S. ET | June 30, 2015

GM and FCA could benefit from each other's technology. Instead of a full-blown merger, maybe some small side-deals is all Sergio needs.... Read More »

Two Las Vegas dealerships settle deceptive advertising charges

3:47 pm U.S. ET | June 29, 2015

Two Las Vegas car dealerships have agreed to settle Federal Trade Commission charges that they used deceptive advertising. The dealerships, Planet Hyundai and Planet Nissan, ran ads that misrepresented the purchase price or leasing offers of their vehicles and the amount due at signing, the FTC said.... Read More »

BB&T to launch flat fees; feds applaud

12:01 am U.S. ET | June 29, 2015

Auto retailers working with BB&T Dealer Finance soon can expect to be paid flat fees, rather than dealer reserve, for arranging customers' loans. BB&T will launch a nondiscretionary dealer compensation program on July 1.... Read More »

LOST IN TRANSLATION

NYC dealership must provide documents for non-English speakers

12:01 am U.S. ET | June 29, 2015

As part of a settlement with the New York attorney general's office, a New York City dealership group must begin providing translations of sales documents to customers who negotiate their vehicle purchases in languages other than English.... Read More »

CarMax makes big plans for smaller markets

12:01 am U.S. ET | June 29, 2015

CarMax Inc. plans to expand its reach by opening smaller stores in smaller markets, said CEO Tom Folliard. He said the used-vehicle powerhouse has identified at least 80 markets that will support stores that are downsized from typical CarMax outlets.... Read More »

BEST PRACTICES

Dealer Wise goes the extra mile(s) for buyers

12:01 am U.S. ET | June 29, 2015

Let's say you're shopping at one of the Randy Wise Automotive stores in this area, and you decide to check out a vehicle from a different brand at another dealership owned by the group. Well, just sit tight. The folks at Randy Wise will fetch the vehicle for you or drive you to where it is. Five dealerships. Ten brands. New or used. Your pick.... Read More »

Dealers

12:01 am U.S. ET | June 29, 2015

Dealers featured this week include Chuck Anderson, dealer principal at University Mazda in Seattle; Don Gasgarth, dealer principal of Don Gasgarth's Charlotte County Ford in Port Charlotte, Fla.; and John Voss, dealer principal at Voss Toyota in Beavercreek, Ohio.... Read More »

Supreme Court ruling could favor all groups debating bias in auto lending

7:45 pm U.S. ET | June 25, 2015

The Supreme Court's decision to endorse a broad interpretation of a legal theory used to fight housing discrimination provides ammunition for groups at odds over the CFPB's power to pursue discrimination in auto lending.... Read More »

Ford Credit car-sharing plan aims to cut ownership costs

12:15 pm U.S. ET | June 24, 2015

Ford is entering the car-sharing market with a program that will cut Ford Credit customers' vehicle costs by enabling them to rent out their cars.... Read More »

HANNAH LUTZ

BLOG: 3 steps to regulatory compliance

12:15 pm U.S. ET | June 24, 2015

To stay out of trouble with regulators, clean up compliance. It sounds like an obvious solution, but what do dealers need to do to be sure compliance is up to par?... Read More »

NYC dealership must provide documents for non-English speakers

12:15 pm U.S. ET | June 24, 2015

As part of a settlement with the New York attorney general's office, a New York City dealership group must begin providing translations of sales documents to customers who negotiate their vehicle purchases in languages other than English.... Read More »

Lenders stretch subprime auto loans, stoking concerns over consumer debt load

12:15 pm U.S. ET | June 24, 2015

Demand for automobile debt in the U.S. is enabling lenders to make longer loans to people with spotty credit, stoking concern that car shoppers are being lulled into debt loads they won't be able to sustain.... Read More »

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