Jamie LaReau

Retail / F&I reporter
Address: 1155 Gratiot Ave.
48207-2997 Detroit, Mich.
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Phone: 313-446-1637
E-Mail: jlareau@crain.com
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Recent authored articles

Conant Auto Retail Group to pay $1.4 million to settle FTC claims

The California dealership group will pay $1.4 million for violating a 2014 FTC order that prohibited it from false advertising of financing terms.

Future lies in fleet management

Dealers will become experts in fleet management to better accommodate automated vehicles and ride sharing.

Public dealer groups predict turnaround

Public dealership groups had a mixed third quarter, depending on how hard they were hit by hurricanes. But all predicted a robust fourth quarter. Here's why.

Lithia's Q3 net income drops 4% from strong year-earlier quarter

Lithia Motors' acquisitions pushed revenue up sharply in the third quarter, but higher costs and comparison against a strong 2016 pushed net down 4 percent.

Sonic's Q3 net rises 7% despite storms' impact

Sonic Automotive reported a third-quarter gain on strong gains from finance and insurance, despite storm-related costs.

A buy-sell that's built for the future

GPB Capital replaced Abrams Capital as majority investor in Prime Motor Group. GPB and Prime see the deal as a bid for survival in a changing auto-retail world.

NADA Data shows dealer profits eroding

New-vehicle dealerships sold about the same number of new vehicles through June this year as they did a year earlier, but dealers are making less money on them, an NADA midyear report says.

Chief Economist Szakaly will leave NADA for health system

Steven Szakaly, chief economist for the National Automobile Dealers Association, is leaving the group early next month to run data analytics and consumer insights for a major health system.

Sonic issues earnings warning because of hurricanes

Sonic Automotive lowered its estimated third-quarter results because of devastating storm damage, but kept its full-year forecast unchanged.

Penske hiring process adds automation, phone screening

Penske Automotive Group has reduced its turnover rate across the company by 3 percentage points over the past year with big changes to its hiring process.

Car dealer, pro gambler Billy Walters reports to prison

Mega car dealer Billy Walters is now in federal prison for insider trading. The Federal Bureau of Prisons website lists him as an inmate at a minimum security federal prison camp in Pensacola, Fla.

NADA eyes beefed-up convention security after Vegas shooting

The National Automobile Dealers Association is reviewing security for its convention to take place in Las Vegas in March in light of the mass shooting there.

How Gen Z will buy F&I

Generation Zers are nothing like their millennial predecessors, experts say. As customers, they will be more technologically familiar and transparency-conscious. As employees, they will be competitive more than collaborative.

NADA puts Texas dealer Charlie Gilchrist in line to be 2019 chairman

The National Automobile Dealers Association chose Texas dealer Charlie Gilchrist to be its 2018 vice chairman, putting him in line to be chairman in 2019. Vice Chairman Wes Lutz, will succeed current Chairman Mark Scarpelli.

Penske warns of storms' hit to earnings

UPDATED: 9/28/17 3:16 pm ET - adds details, corrected

Penske Automotive Group could face a $6 million pretax profit decline as a result of Hurricanes Harvey, Irma and Maria.

Shooting injures 3 at Ohio BMW dealership

A man began shooting inside a Cleveland-area BMW dealership Thursday. Three people -- including two police officers -- were injured. Authorities are investigating.

Cox Automotive makes two key leadership changes

The head of Cox Automotive's auction arm Manheim is moving to a new role in the company and is being replaced by a veteran Manheim executive.

Skipping background checks could be costly

Conducting criminal background checks on potential hires is a best practice, experts say. Yet many dealers skip them. Why?

Wanna sell cars? No, job seeker study finds

A Cox study found job seekers' interest in working at a dealership jumps when told they won't have to sell cars, while most dealers don't have a staffing strategy.

Irma ravages dealer's reputation

Florida dealer Ed Napleton wound up in a social media storm after Irma, blasted for parking cars where evacuees wanted to. Here's his side of the story.

Florida dealers clearing debris, opening doors

Three days after Hurricane Irma tore across Florida, some dealers remain in the dark, but most are clearing debris and reopening for business.

Dealers wait for power, people to return after Irma

In the aftermath of Hurricane Irma, Florida dealers are scrambling to assess damage and reopen. But first they need to find their employees.

Fast gains for dealership's slower process

Porsche of Ann Arbor is switching up its F&I process to make it easier on customers and the finance team. The results are higher per-vehicle profits, happier customers and more time to ensure paperwork is legally compliant.

Skipping background checks could be costly

Conducting criminal background checks on potential hires is a best practice, experts say. Yet many dealers skip them. Why?

Ex-NADA President Brady joins Kerrigan Advisors

Former NADA President Phil Brady has joined dealership buy-sell firm Kerrigan Advisors.