Dealers

CarMax average retail selling price dipped 1.6% in Q1

1:09 pm U.S. ET | June 19, 2015

The average retail selling price of a CarMax used vehicle dropped 1.6 percent to $19,851 in the company's fiscal first quarter that ended May 31....
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La. exec sentenced to 11-year prison term for $1.2M ad fraud of dealerships

4:03 pm U.S. ET | June 18, 2015

A politically connected media firm owner who billed Louisiana dealerships for fictitious advertising that cost them more than $1.2 million was sentenced to more than 11 years in prison Wednesday, the Department of Justice said....
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Tom Benson, New Orleans dealer and Saints owner, ruled competent by judge in battle with heirs

6:00 pm U.S. ET | June 18, 2015

Tom Benson, a New Orleans and San Antonio dealer and the owner of the NFL's Saints franchise, was found competent to manage his own affairs by a Louisiana judge overseeing part of a fight by spurned heirs trying to oust the billionaire from control of his sports and business empire....
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Toyota tops in retained value, Edmunds.com awards show

12:01 am U.S. ET | June 18, 2015

Toyota Motor came out on top in Edmunds.com's annual Best Retained Value Awards, nabbing a brand-level award and four model-level awards. The awards recognize brands and nameplates that have the highest projected residual values after five years compared to their average transaction prices when sold new....
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N.Y. targets dealerships' sale of credit-repair, identity-theft products

12:01 am U.S. ET | June 17, 2015

Paragon Honda and its two sister stores have agreed to a $13.5 million settlement with the New York attorney general's office over the alleged unlawful sale of credit-repair and identity-theft prevention products, part of a broader crackdown on deceptive sales practices by dealerships....
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HANNAH LUTZ

BLOG: The advantages for going online with F&I

12:00 pm U.S. ET | June 17, 2015

To reduce the push and pull around F&I product options and avoid surprising consumers with unexpectedly higher monthly payments as F&I products are added on, dealerships should introduce F&I online....
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JAMIE LaREAU

BLOG: A case for breaking the 300% rule

11:45 am U.S. ET | June 17, 2015

Most F&I folks subscribe to the “300 percent rule”: Offer 100 percent of the products to 100 percent of the dealership's customers 100 percent of the time. But a recent conversation with a friend indicates the rule doesn't apply to 100 percent of cases....
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Penske shuffles some upper management in accounting

6:06 pm U.S. ET | June 16, 2015

Penske Automotive Group has a new CFO, J.D. Carlson, formerly senior vice president and corporate controller for the dealership holding company. Carlson replaces David Jones, who resigned to accept a similar position with another company....
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RICHARD TRUETT

BLOG: The dark side of electronics

11:30 am U.S. ET | June 16, 2015

As automobiles age and the quality of replacement parts for the electronics diminish, repairs become difficult, frustrating and expensive....
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Daimler to sell Mercedes dealerships to Chinese firm, report says

June 16, 2015 17:31 CET

Daimler is set to agree a deal to sell some Mercedes dealerships in eastern Germany to China's Lei Shing Hong, a German newspaper reported....
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VIDEO: Denver dealer banks on service bays, crusades for family-owned stores

12:01 am U.S. ET | June 15, 2015

After the untimely death of her boss and mentor, Mary Pacifico-Valley has built a 3-franchise chain with fixed ops as its foundation. She is also waging a personal crusade for the viability of the family-owned dealership while walking the talk on an issue where she feels the industry needs to "step it up."...
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Cox-Dealertrack deal to create full-service dealer software powerhouse

7:42 am U.S. ET | June 15, 2015

Cox Automotive's $4 billion blockbuster acquisition of Dealertrack Technologies brings together software giants with complementary strengths and little product overlap, the CEOs of the two companies said today....
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Cadillac dealership planned near GM Tech Center

3:29 pm U.S. ET | June 15, 2015

Prestige Automotive Group LLC plans to break ground Wednesday on an $8 million Cadillac dealership on 4.6 acres near General Motors' Tech Center in Warren, Mich....
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A billion here, a billion there ...

12:01 am U.S. ET | June 15, 2015

In its latest earnings statement, Berkshire Hathaway valued its purchase of Van Tuyl Group at $4.11 billion, after adding up the value of the dealership group's assets and subtracting the liabilities that were assumed....
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Dealer's wine shop spawns bar/service lane

12:01 am U.S. ET | June 15, 2015

Building on the success of its in-house Cadillac Wines shop, Frank Kent Cadillac opened a downtown wine bar that also serves as a satellite service lane....
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Scarola, former DCH exec, to leave Lithia

12:01 am U.S. ET | June 15, 2015

Susan Scarola, the former vice chairman of DCH Auto Group and one of the most high-profile women in auto retailing, is leaving Lithia Motors. A difference in management strategy between DCH and Lithia is influencing her next move....
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Q&A WITH MARY PACIFICO-VALLEY, OWNER, RICKENBAUGH AUTOMOTIVE GROUP

Service background shaped Colo. dealer's approach

12:01 am U.S. ET | June 15, 2015

Coming up through the service department, rather than sales, shaped the views of Denver-area dealer Mary Pacifico-Valley. She also was mentored by the late Kent Rickenbaugh, and today seeks to mentor others....
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One-price growing pains and gains

12:01 am U.S. ET | June 15, 2015

When dealer Lee Payne moved his two Golden, Colo., stores to a one-price model in early 2013, he quickly realized it was going to be expensive and painful. Here's how he made the switch, and the hurdles he faced and overcame....
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Buy-sells are strong, but what's ahead?

12:01 am U.S. ET | June 15, 2015

A new report predicts a cooling off of the buy-sell market this year after years of robust growth. But another says it all depends on how many sellers come to market....
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Dealer awards

12:01 am U.S. ET | June 15, 2015

Dealers featured this week include the Kilby family of Ford at Yadkin Valley Motor Co. (Ford-Lincoln) in North Wilkesboro, N.C.; Linda Eich DesJardins, dealer principal at Eich Mazda in St. Cloud, Minn.; and Howard Lucas, dealer principal at Lucas Ford in Southold, N.Y....
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Daimler to recall 40,000 vans in U.S. to replace faulty airbags

11:04 am U.S. ET | June 13, 2015

Daimler made 40,061 vans from 2005-08 with airbags that must be replaced, the National Highway Traffic Safety Administration said....
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Serra Nissan faces civil suit in U.S. court in Ala.

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

Serra Nissan in Birmingham, Ala., is facing more legal problems, this time in civil court. An Alabama couple is suing the dealership alleging it was involved in a criminal enterprise when they bought a car there. Serra's lawyer says he plans an aggressive defense....
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VINCE BOND JR.

BLOG: Dealer putting Mayweather's big-ticket Enzo back on the market

4:15 pm U.S. ET | June 11, 2015

A familiar guest is back at exotic-car dealership Fusion Luxury Motors. The rare 2003 Ferrari Enzo supercar that boxer Floyd Mayweather bought from the dealership in January is going back up for sale....
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HANNAH LUTZ

BLOG: Why credit bureaus' loan data vary

11:00 am U.S. ET | June 10, 2015

The three major credit bureaus, TransUnion, Experian and Equifax, publish their auto finance data in spurts throughout the year, usually a week or two apart from one another. But one thing always stops me when reporting the data: The trends are the same, but the numbers don't match up....
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Nissan store manager, controller in Ala. charged with fraud to win incentive bonuses

3:50 pm U.S. ET | June 9, 2015

The former general manager and controller of an Alabama Nissan dealership are charged with falsely reporting vehicle sales and receiving factory incentive bonuses....
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