Finance & Insurance
Jury awards $256 million, but 'I still lost'Mon, 29, May 2017
Ex-Nissan dealer Mike Kahn won big in his case against his lender, but says he's still out "the eight years I spent fighting for my reputation and my name."
Ex-dealer wins $256M jury award from Nissan finance unitTue, 23, May 2017
After years of legal wrangling, ex-Nissan dealer Mike Kahn has been awarded $256 million by a jury against Nissan Motor Acceptance Corp.
Most public retailers boost Q1 F&IMon, 08, May 2017
Five of the 6 publicly traded new-vehicle dealership groups improved their average F&I gross profit per vehicle retailed in the first quarter.
Santander has dropped 800-plus dealershipsMon, 08, May 2017
Santander Consumer USA has terminated more than 800 dealerships since 2015, based on “performance-related issues,” the lender said.
Making free oil changes pay offMon, 01, May 2017
Lester Glenn Auto Group used to give away unlimited free oil changes with vehicle purchases, but it became costly and unmanageable. Now the group limits the amenity and pairs it with a pitch for pre-paid maintenance. The result: $150,000 a month in incremental service revenue.
Incentives will hit $4K per car, cut profits, analyst predictsTue, 11, Apr 2017
The U.S. auto industry's typical short-term focus on boosting sales with incentives is endangering profits years down the road, an analyst said at the NADA/J.D. Power Automotive Forum in New York.
GM joins chorus warning used-car prices to fall amid glutThu, 06, Apr 2017
GM said a glut of used vehicles will return to market after their leases expire and drag on its finance unit this year, following similar warnings by peer Ford and lenders such as Ally Financial.
First Shift: UAW's ranks grow againMon, 03, Apr 2017
UAW's ranks grow again; Genesis, Kia green cars on tap; Ally's finance marketplace; VW rebuffed in Munich; Record-high Tesla output; Carvana IPO plan; Land Rover tuner takedown?
AutoNews Now: Cadillac, Lincoln in BMW's line of fire?Wed, 22, Mar 2017
BMW aims for Mercedes, but may hit Cadillac, Lincoln; Porsche profit tops $17K per car; Ally profit warning stokes used-car price worries; Toyota to reveal freshened Sienna, Yaris.
Sage Automotive to pay $3.6 million to settle FTC chargesTue, 14, Mar 2017
Sage Automotive and its owners agreed to settle federal charges that the dealership group used deceptive and unfair sales and financing practices.
First Shift: Nissan's design master stepping downTue, 14, Mar 2017
Nissan's design master stepping down, ex-BMW design chief joins Infiniti; Leadership changes at Mitsu; VW upbeat on '17; Subprime bubble just a myth?; U.S. recalls hit record high.
Profit focus runs over customersMon, 06, Mar 2017
What's really needed is a course for dealers in "Selling with Ethics, Honesty and Integrity."