en-usHannah Lutz Feed How America's auto retail giants transformed and navigated the recessionMon, 24 Sep 2018 00:01:00 ESTIn two tumultuous days in September 2008, Lehman Brothers and mega-insurer AIG collapsed, and Bank of America acquired Merrill Lynch, which was on the verge of sinking. Customer experience supplants lowest price at HyundaiWed, 12 Sep 2018 11:45:46 ESTAs interest rates rise and many captives and their automaker parents dial back on auto loan and lease subvention, Hyundai is focusing on the best customer experience rather than the lowest price. New Ford Credit CEO focuses on dealers, fintech Mon, 10 Sep 2018 00:01:00 ESTIn his first year as Ford Credit CEO, David McClelland has focused on dealer relationships, fintech solutions and affordability. Most recent car buyers deem FandI process transparentWed, 29 Aug 2018 11:37:01 ESTDespite the stigma surrounding the FandI manager role, most consumers surveyed find the FandI process to be transparent. When consumers say no, give them reasons to reconsider, trainer saysWed, 29 Aug 2018 11:11:44 ESTWhen selling FandI products, put the payments -- and the products -- into the context of consumers' daily lives, says FandI trainer Gerry Gould. Virginia Toyota store trims transaction timeMon, 27 Aug 2018 00:01:00 ESTMcGeorge Toyota in Henrico, Va., is saving transaction time, adding convenience for customers who don't want to visit the dealership. With rates and loan payments on the rise, will affordability be in jeopardy?Wed, 22 Aug 2018 11:12:37 ESTAffordability has been one of the biggest FandI buzzwords of the last few years. But as interest rates and monthly payments continue to rise, affordability will likely come under threat. Auto loan delinquency rate falls below 2008 levels as borrowers' credit scores riseWed, 22 Aug 2018 11:11:29 ESTA decade after the recession, delinquency rates have dipped lower than 2008 levels as credit scores for auto loan borrowers consistently rise, TransUnion said. Used-vehicle prices stronger than expectedMon, 20 Aug 2018 00:01:00 ESTIncreasing demand for used vehicles, concern over potential tariffs and tightening supplies are causing used-vehicle prices to strengthen instead of taking their normal summer dip. Cox aims for more cohesive brandSun, 19 Aug 2018 00:01:00 ESTThe company plans to better integrate its more than a dozen unique brands as it combines services under one Cox Automotive umbrella. AutoNation says FandI profit will hold steady even when new-vehicle sales fallWed, 8 Aug 2018 11:30:00 ESTAs used-vehicle sales rise and new-vehicle sales decline, AutoNation's FandI profit per unit will likely hold steady. Swaps might help keep payments manageableTue, 7 Aug 2018 16:02:11 ESTAs interest rates rise, some dealership groups may consider implementing a hedging tool called a swap to keep payments manageable. Floorplanning revenue dries up as rates riseMon, 6 Aug 2018 00:01:00 ESTFloorplan expense in the United States flipped to a cost this year for the first time in eight years. Dealers all knew the low-interest-rate environment wouldn't last forever. Now they are exploring ways to mitigate the cost. AutoNation, others feel Honda, BMW profit pinchMon, 6 Aug 2018 00:01:00 ESTFour of the six public dealership group peers are feeling a new-vehicle profit margin squeeze driven by BMW and Honda. AutoNation's Q2 net, revenue grow on strong used-vehicle operationsWed, 1 Aug 2018 07:15:00 ESTAutoNation's net income and revenue rose in the second quarter, primarily on gains in its used-vehicle business. Strong used sales make the difference for publicsMon, 30 Jul 2018 00:01:00 ESTWhile new-vehicle sales are flattening and margins are tighter, used-vehicle sales are making up the difference. Group 1 lifts profits, revenue on used vehicles, U.K. businessThu, 26 Jul 2018 12:46:56 ESTGroup 1 Automotive's gross profit and revenue climbed in the second quarter, driven primarily by improvements in the used-vehicle business. Operations in the U.K. also helped. City envyMon, 23 Jul 2018 00:01:00 ESTIf you represent a city that wants to improve its transportation system and find ways to forge partnerships with local businesses, what better way to figure out the next steps than to visit other cities that are models for... Rise of the machinesMon, 23 Jul 2018 00:01:00 ESTHere's a conundrum for society: History has shown that the more we use computers and automation for common tasks, the fewer jobs there are for people. Watching driversMon, 23 Jul 2018 00:01:00 ESTImagine a city that tracks driver behaviors -- watching them speed up too quickly, brake hard, turn sharply -- not to hand out fines but in an effort to make its streets safer. Imagine that city is Chicago. Get to workMon, 23 Jul 2018 00:01:00 ESTA work-study program started 2013 by Columbus State Community College and Honda has grown into a job feeder for the automaker's Marysville plant. QandA with Diarmuid O'ConnellMon, 23 Jul 2018 00:01:00 ESTAs vice president of business development for Tesla, Diarmuid O'Connell led the automaker's state-by-state battle to sell its vehicles through factory-owned stores. 40 under 40 honorees take a winding road to FandI successWed, 18 Jul 2018 12:14:17 ESTFandI stars may come from unlikely places. Karen LombardoMon, 16 Jul 2018 00:01:00 ESTIn her fifth full month working at the store, the dealership reached its highest unit sales volume in more than a year. She improved lead conversion to 21.6 percent by April, up from 12.6 percent for all of 2017. Larry ZinnMon, 16 Jul 2018 00:01:00 ESTTurned a dealership around during the recession and won Best Dealership To Work For after building a team from scratch Michael LuciaMon, 16 Jul 2018 00:01:00 ESTIn one year, improved dealership operations enough to win AutoNation's operational excellence award, given to AutoNation's top two general managers for each brand Lexus dealers push online retailingMon, 9 Jul 2018 00:01:00 ESTA closing rate boost pushed Lexus to name Roadster one of its four approved digital retail partners. More buyers could shift from leasingWed, 4 Jul 2018 09:00:00 ESTThe gap between monthly payments for leases and used-vehicle loans continues to widen. Because of that, lease volume could decline as consumers shift to used vehicles. Consumers still want a sales guideWed, 4 Jul 2018 09:02:12 ESTAre advancements in auto retail technology helping or hurting the role of FandI managers? Roadster: $15 million jump-starts expansionMon, 2 Jul 2018 00:01:00 ESTRoadster has doubled its funding to nearly $30 million. The investment will propel the technology startup's efforts to expand operations and update products to meet the demands of dealership and automaker customers. Roadster doubles funding to $30 millionWed, 27 Jun 2018 07:15:00 ESTThe investment will propel the technology startup's efforts to expand operations and update products to meet the demands of dealership and automaker customers. Is Chase angling to operate as FCA captive?Wed, 13 Jun 2018 11:42:41 ESTAfter Fiat Chrysler Automobiles made clear that it wants a captive, could Chase Auto be raising its hand? M-B mobility learnings migrate to subscription programWed, 13 Jun 2018 11:43:38 ESTMercedes-Benz Financial Services will apply the fleet management and concierge skills gleaned from its other mobility ventures to Mercedes-Benz Collection. The tech effectMon, 11 Jun 2018 00:01:00 ESTA tech-driven auto retailing transformation is inevitable, but what that transformation will look like, and how the industry will get there, is less predictable. Fintech startups can find success by mixing skill setsMon, 11 Jun 2018 00:01:00 ESTFor a fintech startup breaking into automotive retail, should the top leadership have dealership experience, finance expertise or software skills? Online retail requires more than tech savvyMon, 11 Jun 2018 00:01:00 ESTAs a tech expert but car-buying rookie, Drive Motors' CEO knew he needed automotive expertise to understand how to make the product easy and useful for dealerships. AutoGravity's new priority: Deepen ties with clientsMon, 11 Jun 2018 00:01:00 ESTAutoGravity's strategy was initially centered on client expansion, but going forward, the company will devote more attention to enhancing existing relationships. FCA captive would roil SantanderMon, 4 Jun 2018 00:01:00 ESTFiat Chrysler Automobiles' intention to launch its own U.S. captive finance arm could throw another lender's business into upheaval. AutoNation redoubles cancer effortsMon, 4 Jun 2018 00:01:00 ESTAutoNation is launching its largest advertising campaign yet: A $25 million nationwide initiative centered on Drive Pink, the company's mission to devote nearly all its philanthropic efforts to cancer. 2 lenders bound by dealer reserve rulesMon, 28 May 2018 00:01:00 ESTWith a signature from President Donald Trump last week, the Bureau of Consumer Financial Protection's auto lending guidance was officially repealed, but two lenders remain bound by consent orders formed on the basis of that... Chase trends, not fads Mon, 28 May 2018 00:01:00 ESTIf automakers don't want to go the way of the dinosaurs, they will need to identify and capitalize on trends in transportation, technology and retail. Group's fresh approach to FandI training pays offMon, 21 May 2018 00:01:00 ESTBrandon Steven Motors has transformed its finance and insurance operations and lifted FandI profit per vehicle by putting finance managers in the hot seat. Lenders should embrace new financing modelsWed, 16 May 2018 11:38:36 ESTCould the convergence of two industry disrupters reshape the traditional auto lending model? Former Tesla exec O'Connell joins Scott Painter's FairTue, 15 May 2018 08:00:00 ESTFair, the used-vehicle leasing subscription service led by TrueCar founder Scott Painter, has added former Tesla executive Diarmuid O'Connell to its team. GM Financial works to boost loyalty programsMon, 14 May 2018 00:01:00 ESTGM Financial wants to expand its GM loan share, increase floorplan penetration and improve the customer experience, CEO Dan Berce says in this QandA. Public groups adjust plans for selling usedMon, 7 May 2018 00:01:00 ESTSonic Automotive and Group 1 Automotive are expanding their used-vehicle plans, even as AutoNation pauses its used-only store plans to evaluate results so far. For the publics, FandI training takes differing pathsWed, 2 May 2018 11:15:00 ESTAll six public retailers boosted average FandI gross profit per vehicle in the first quarter, but they did so by following differing strategies on training. AutoNation Q1 net falls 4.5%, despite revenue gainTue, 1 May 2018 07:15:00 ESTAutoNation's revenue rose in the first quarter, driven by gains in each of its business segments, but net income fell 4.5 percent. Public groups look beyond new carsMon, 30 Apr 2018 00:01:00 ESTIn a flat new-vehicle sales market, public dealership groups are turning their attention elsewhere, especially on used-vehicle operations. Sonic's loss widens despite record Q1 revenueThu, 26 Apr 2018 11:01:40 ESTSonic Automotive's revenue rose to a first-quarter record on gains in FandI and new- and used-vehicle sales, but the retailer's net loss widened from a year earlier. AutoNation's Jackson, Magna's Stronach named to Automotive Hall of FameWed, 25 Apr 2018 16:33:23 ESTAutoNation's Mike Jackson, Toyota's Kiichiro Toyoda, Magna's Frank Stronach and Car Talk's Ray and Tom Magliozzi will be inducted into the Automotive Hall of Fame. AutoNation names 1st academic to boardWed, 25 Apr 2018 15:58:13 ESTAutoNation added the first academic and second woman to its board composed entirely of outside directors under CEO Mike Jackson. Magna's Stronach, 4 others named to Automotive Hall of FameWed, 25 Apr 2018 16:33:23 ESTAutoNation's Mike Jackson, Toyota's Kiichiro Toyoda, Magna's Frank Stronach and Car Talk's Ray and Tom Magliozzi will be inducted into the Automotive Hall of Fame. Asbury's Q1 net jumps 18 percentTue, 24 Apr 2018 12:19:20 ESTAsbury Automotive's first-quarter profits jumped 18 percent, driven by FandI and parts and service gains, on a revenue increase approaching 4 percent. Washington angles to check CFPB's powerMon, 23 Apr 2018 00:01:00 ESTCongressional efforts to limit the CFPB's power are moving in parallel with similar efforts by its leader. FandI penetration rises even at luxury storesWed, 18 Apr 2018 11:10:39 ESTFandI penetration on new- and used-vehicle sales grew last year at luxury-brand dealerships, despite the prevalence of leasing among luxury customers, a NADA report shows. U.S. Senate votes to repeal CFPB's auto-lending guidanceTue, 17 Apr 2018 15:36:23 ESTA resolution rescinding the Consumer Financial Protection Bureau's auto lending guidance, which aims to limit dealerships' retail margin on loans, passed by a narrow margin in the Senate. Report: Dealerships leaning more on incentive money to turn profitMon, 16 Apr 2018 00:01:00 ESTDealerships' average net profit was more than 15 times the size of total operating profit last year, showing just how much they rely on automaker incentives. Ally Financial, Fair link on financing, auctionsTue, 10 Apr 2018 16:19:47 ESTAlly and Fair have joined to offer consumers online vehicle financing through Ally's Clearlane, while Fair will send its off-lease cars to Ally's SmartAuction. Team up to improve the lease-end processMon, 9 Apr 2018 00:01:00 ESTIf dealerships, lenders and automotive brands want customers to be happier, a more digital and personalized lease-end process may be the answer. Captives go online to educate consumersMon, 9 Apr 2018 00:01:00 ESTSome captives have put their lease-end education tools online to improve customer satisfaction with an experience that too often leaves consumers with questions. Handicapping the CFPB's next chiefWed, 4 Apr 2018 11:23:27 ESTAn American Financial Services Association leader identifies who he thinks may be on the short list to take charge of the Consumer Financial Protection Bureau. Kia awards, new product create dealer optimismMon, 2 Apr 2018 00:01:00 ESTKia dealers are riding high on vehicle quality awards and new product, but they are concerned about dealership profitability. Marketing, volume on Mini dealers' mindsMon, 2 Apr 2018 00:01:00 ESTMini dealers brought three issues -- limited sales volume, marketing spend and dealership profits -- but many answers were deferred until a BMW meeting this month. Young leaders need to 'be bold,' Flow Automotive CEO saysMon, 2 Apr 2018 00:01:00 ESTAs the automotive retail industry enters an era of unparalleled change, young leaders are faced with both opportunities and risks. Carvana CEO targets speedy expansionMon, 2 Apr 2018 00:01:00 ESTFor Carvana, building scale is key to long-term success. The used-vehicle retailer now has a presence in 55 markets. Let's hope resolution on military lending lands soonWed, 28 Mar 2018 12:15:22 ESTWhat's next for the interpretation of the Military Lending Act that has befuddled auto dealers and lenders? A quick resolution, sources say. Start FandI product education before consumers visit the store, EFG study suggests Wed, 28 Mar 2018 12:19:12 ESTAbout a quarter of car buyers expect to spend less than an hour in the dealership, including purchase time, according to a survey by EFG Cos. Kia: Customer care, product keys to profitSat, 24 Mar 2018 17:47:00 ESTFocus on new product and customer satisfaction to improve profitability, Kia executives told dealers here on Saturday. Mini's rising sales may lift dealer profitsSat, 24 Mar 2018 18:28:49 ESTWith a sales volume boost so far this year, Mini dealerships could improve profitability, executives told dealers. Carvana focuses on expanding quicklyFri, 23 Mar 2018 18:10:14 ESTFor Carvana, building scale is key to long-term success. The used-vehicle retailer now has a presence in 55 markets. Ally to be Drive Motors' preferred finance providerThu, 22 Mar 2018 16:39:51 ESTAlly Financial will be the preferred finance company for vehicle transactions through Drive Motors, the companies said. Ally's auto finance platform to test digital serviceThu, 22 Mar 2018 16:30:55 ESTAlly Financial's Clearlane will pilot Clearmatch, a digital service that will approve customers for vehicle financing, connect them with participating dealerships and let them shop those dealerships' inventory in the... Flow urges young leaders: #39;Be bold'Thu, 22 Mar 2018 18:53:28 ESTAs the automotive retail industry enters an era of unparalleled change, young leaders are faced with both opportunities and risks. KIA: Dealers buoyed by bolstered crossover lineupThu, 22 Mar 2018 00:01:00 ESTKia's sales slipped in 2017, but with in-demand products rolling out this year, dealers are hopeful that sales and profitability will tick up. Partnerships, investments needed for online auto financing success, panel saysWed, 21 Mar 2018 11:30:00 ESTDigital investments and partnerships are the keys to appealing to today's consumers, auto finance panelists say. Experian launches tool to better track credit, evaluate risk, identify fraudWed, 21 Mar 2018 11:30:00 ESTExperian's new Trended 3D tool aggregates raw trended credit data from Experian, Equifax and TransUnion into attributes that Experian says will help lenders better evaluate risk and identify fraud. Bring service into the FandI mixWed, 21 Mar 2018 11:30:00 ESTTrying to come up with new FandI products to offer? Ask the service department. RouteOne, Open Dealer Exchange partner to speed electronic contractingTue, 20 Mar 2018 07:00:00 ESTRouteOne and Open Dealer Exchange will partner to help dealerships speed up and improve the electronic contracting and overall FandI process. Online retailing products take the spotlightMon, 19 Mar 2018 00:01:00 ESTHere's a sampling of the online-retailing tools and enhancements that vendors will showcase at the 2018 NADA Show. Kia better positioned with new productsMon, 19 Mar 2018 00:01:00 ESTWith new and updated product rolling out this year, Kia dealers expect the brand to be better positioned to meet the market's demands.