Dealers

Ford launches '15 Mustang output in Michigan

12:01 am U.S. ET | Aug. 28, 2014
Ford today officially launched production of the redesigned Mustang at its Flat Rock Assembly Plant in Flat Rock, Mich. With the 2015 model, Ford is making the Mustang to suit global tastes for the first time. That will include a first-ever right-hand-drive version.... Read More »

 

AUGUST U.S. AUTO SALES

Sales rate to top 16 million for 6th month in a row, analysts predict

12:46 pm U.S. ET | Aug. 27, 2014
Auto sales volume in the United States is expected to keep rolling along in August, with two independent forecasters predicting a sixth straight month of 16 million-plus selling rates. TrueCar predicts a seasonally adjusted annual selling rate of 16.6 million for August and LMC Automotive/J.D. Power is just behind at 16.5 million.... Read More »

 

JIM HENRY

Is CFPB guilty of spin?

12:01 am U.S. ET | Aug. 27, 2014
Remarks delivered by Consumer Financial Protection Bureau Director Richard Cordray and language used in a bureau statement last week were a lot harsher than the dry legalese of the consent order signed this month by the CFPB and First Investors Financial Services Group.... Read More »

 

Keith Crain will be honored at Boca Raton Concours d'Elegance

4:00 pm U.S. ET | Aug. 27, 2014
Keith Crain, editor in chief of Automotive News and chairman of Crain Communications, will be honored with a 2015 Automotive Lifetime Achievement award at the ninth annual Boca Raton Concours d'Elegance in February.... Read More »

 

Is rise in Q2 loan delinquencies a turning point?

12:01 am U.S. ET | Aug. 27, 2014
Industry-watchers insist that today's auto loan delinquency rates are low by historical standards. But a slight uptick in 30- and 60-day delinquencies in the second quarter could be a sign that the long decline in delinquencies could be reversing.... Read More »

 

F&I departments need a farm team

12:01 am U.S. ET | Aug. 27, 2014
The term “succession planning” is usually applied to dealer principals, but it can apply to F&I managers, too. Executives at two dealerships say store managers should nurture their own talent pool, so they have a ready replacement if a top F&I producer quits.... Read More »

 

'No evidence' of subprime auto loan bubble, Equifax economist says

12:01 am U.S. ET | Aug. 27, 2014
Equifax has joined other financial data crunching firms that dispute there's an alarming subprime auto loan bubble that's about to burst. Dennis Carlson, deputy chief economist for Equifax, said in an interview this week there's an easy tendency to decry subprime in general because of what happened in the past, and "it's not fair to do that.”... Read More »

 

JAMIE LaREAU

Dealers are missing an opportunity by not changing that tire

3:41 pm U.S. ET | Aug. 26, 2014
A recent survey reported that 52 percent of American teens ages 15 to 17 do not know how to change a tire. This is where savvy car dealers have an opportunity to do community outreach and get consumers in their doors for new or repeat business.... Read More »

 

Ford's Quick Lane brand buys naming rights to Detroit bowl game

10:23 am U.S. ET | Aug. 26, 2014
Ford's Quick Lane brand of dealership auto service centers will be sponsoring Detroit's new college football bowl game in December at Ford Field. Members of the Ford family also own the NLF's Detroit Lions, organizers of the bowl. Financial terms of the multiyear title sponsorship were not disclosed.... Read More »

 

Asian, European brands dominate satisfaction survey, but U.S. brands close gap

12:01 am U.S. ET | Aug. 26, 2014
Asian and European brands dominate the top of an annual survey of customer satisfaction in the United States with auto brands, though overall satisfaction with the industry dropped for the second year in a row.... Read More »

 

Auto-shop class is a win-win for high school grads, dealerships that need mechanics

8:16 am U.S. ET | Aug. 25, 2014
Two years out of high school, Evan Fischbach is earning $40,000 a year. His secret: shop class. Fischbach, 19, has known he wanted to work on cars ever since he took an automotive class in his junior year of high school in Saline, Mich. His college-educated parents wondered if he was aiming too low.... Read More »

 

BEST PRACTICES

Rick Case career talks move workers up

12:01 am U.S. ET | Aug. 25, 2014
Rick Case dealer group interviews every single employee to find out what kind of job each employee ultimately wants. The idea is to retain employees who might otherwise leave looking for new challenges or a better fit.... Read More »

 

Dealership Buy/Sell

12:01 am U.S. ET | Aug. 25, 2014
BUYER: Garcia Automotive Group
SELLER: Lawton Davis
OLD NAME: Galles & Davis Cadillac-Subaru, Albuquerque, N.M.
NEW NAMES: Garcia Cadillac, Garcia Subaru
MORE: Ryan Morris and Keeley Bedford of Tim Lamb Group were the advisers.... Read More »

 

Severe weather spurs auction expansion

12:01 am U.S. ET | Aug. 25, 2014
Insurance Auto Auctions Inc., which specializes in salvage vehicles and those donated to charity, has expanded its auction site outside Omaha, Neb., in response to growing volume.... Read More »

 

Used pickup prices strong, but how long?

12:01 am U.S. ET | Aug. 25, 2014
How long will prices of used full-size pickups stay strong?... Read More »

 

Manheim enters high-tech lane

12:01 am U.S. ET | Aug. 25, 2014
Manheim, the nation's largest auto-auction company, is spending $100 million over three years to give every aspect of its operations a high-tech makeover.... Read More »

 

LINDSAY CHAPPELL

Settlement allows Mercedes to award dealership to Alabama's Saban

12:01 am U.S. ET | Aug. 23, 2014
Mercedes' plan to award a dealer franchise in Alabama to Crimson Tide football coach Nick Saban and a business partner can move forward now that litigation with a longtime Mercedes dealer there has been settled. Terms of the settlement were not disclosed on Friday.... Read More »

 

THE GM RECALL

GM, with ignition parts shipped, must now find recalled cars' owners

12:01 am U.S. ET | Aug. 23, 2014
GM has passed a significant milestone in its campaign to replace potentially defective ignition switches in millions of cars recalled worldwide: It cleared its backlog of parts orders. Now comes another tough task: Finding the roughly 1 million owners of cars covered by the recall who haven't contacted a dealership.... Read More »

 

Some 2015 Ford F-150 buyers will have to wait until next year

3:32 pm U.S. ET | Aug. 22, 2014
Some retail and all fleet customers who order their 2015 F-150s early won't see their trucks until February. Ford's 3,000 dealers in the United States will still get some stock by the end of the year, but customers who order a specific truck with unique trim and colors will have to wait until February to take delivery.... Read More »

 

Study sees dealership throughput breaking records in 2014

5:14 pm U.S. ET | Aug. 21, 2014
For the third consecutive year, U.S. dealership throughput -- the average number of vehicles sold per store -- is expected to break records in 2014, a study released today found. But the experts behind the study warn that a downturn is inevitable.... Read More »

 

NHTSA launches VIN tool to search for recalls

12:01 am U.S. ET | Aug. 20, 2014
Car buyers and owners can use a vehicle's identification number to identify open or unrepaired safety recalls with a new search tool released by NHTSA starting today. Consumers enter a VIN to find out whether the vehicle has any open, unrepaired recalls and whether the automaker has a fix available.... Read More »

 

JIM HENRY

Did dealers hurt themselves with the carve out?

12:01 am U.S. ET | Aug. 20, 2014
There’s no mistaking that federal regulators are serious about policing auto lenders. By extension, auto dealers feel they’ve got a big target on their backs, too.... Read More »

 

Auto loans could get boost from revamped FICO scores

12:01 am U.S. ET | Aug. 20, 2014
A planned update in the way FICO scores are calculated should help some borrowers qualify more easily for auto loans by putting less weight on overdue medical debt when calculating credit scores, according to Fair Isaac Corp.... Read More »

 

JAMIE LaREAU

Skipping wheel-and-tire was big mistake

12:01 am U.S. ET | Aug. 20, 2014
Wheel-and-tire insurance is a valuable product. There, I admit it. It's not the “snake oil” that a cynical friend once espoused it and other F&I products to be.... Read More »

 

Asbury targets underperformers, training as F&I gains stall

12:01 am U.S. ET | Aug. 20, 2014
Asbury Automotive Group's improvement in average F&I revenues per vehicle retailed has stalled this year. Like other publicly traded auto retailers, Asbury plans to concentrate on squeezing improvements out of its bottom performers in F&I revenue per vehicle retailed.... Read More »

 

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