Cadillac offering buyouts to 400 smaller U.S. dealersFri, 23, Sep 2016
Cadillac is offering its 400 smallest U.S. dealers as much as $180,000 if they would rather give up their franchise than make the investment necessary to meet a host of new standards being imposed by the brand.
Eric Peterson, GM's diversity VP, will retire Oct. 1Fri, 23, Sep 2016
Eric Peterson, General Motors' vice president of U.S. diversity dealer relations, will retire effective Oct. 1. A successor for the 40-year GM veteran has not been named, a GM spokesman said.
Carbone helps Lithia expand in NortheastMon, 19, Sep 2016
Acquiring the nine-store Carbone Auto Group gives Lithia Motors its first dealerships in New England.
Lithia buys Carbone Auto Group, boosts Northeast presenceTue, 13, Sep 2016
Lithia Motors has bought the Carbone Auto Group in a deal estimated to produce $600 million in annual revenue. It also expands Lithia's operations to Vermont, while adding to its existing New York stores.
Tesla cranks up pressure to end ban on direct auto salesFri, 23, Sep 2016
Tesla Motors is cranking up the pressure to sell electric cars directly to customers, after filing its first federal lawsuit over the practice on the home turf of General Motors and Ford. Tesla on Thursday sued the State of Michigan to overturn its ban on direct sales by auto manufacturers.
Tesla sues Michigan in U.S. court over direct sales banThu, 22, Sep 2016
Tesla Motors is suing the State of Michigan in federal court over its law banning the direct sales of vehicles to consumers. The law, which the automaker calls the “Anti-Tesla amendment” in the suit, was cited in the rejection of the electric-vehicle maker's application for a state dealership license earlier this month.
CarMax quarterly earnings fall 5.7%Wed, 21, Sep 2016
CarMax's quarterly earnings dropped 5.7 percent, as customer demand leaned toward older, less expensive used vehicles, the retailer said. It also said a test to deliver used vehicles to customers' homes rolled into Charlotte, N.C.
Buick-GMC dealership, three others, indicted in Pa. for fraudulent loan schemeThu, 15, Sep 2016
A federal grand jury has indicted a western Pennsylvania dealership and three men accused of wire fraud stemming from submitting bogus loan applications.
How stores can plug the money drainMon, 19, Sep 2016
Dealers need to look long and hard at every dollar they spend. Here are some places to begin doing so.
Experts split over F&I sales on lease dealsWed, 21, Sep 2016
Are lease customers likely to purchase F&I products? Industry experts are divided.
Will prime buyers dent service plans?Wed, 21, Sep 2016
Consumers' trend toward used cars, especially certified pre-owned, could eventually slow the growth in sales of extended service contracts.
EchoPark marketing strategy: Get them while they're youngMon, 19, Sep 2016
As Sonic Automotive expands its used-vehicle-only EchoPark stores across the U.S., its grass-roots marketing targets future customers when they're young. Driver's education programs and sponsoring high school sports are among the ways it aims to get its brand in front of teens and their parents.