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Big shifts are coming to the auto retail world, and dealers say they're getting ready for them. But don't fall for all the fantastical forecasts you hear, they caution.
"Question the hype." That's Wes Lutz's advice on prognostications of how primary transportation models will change.
At Faulkner Subaru Harrisburg, a robust training program keeps employee morale high and turnover low.
An F&I product sales boost may lie in the keystrokes of existing customers.
Wes Lutz, chairman of the NADA, cautioned the auto industry -- and the press that covers it -- to take the prognostications of how primary transportation models will change with a grain of salt.
Sears CEO Eddie Lampert has been selling off shares in AutoNation as his troubled Sears retail chain braces for a potential bankruptcy.
An amendment to the Connecticut Retail Installment Sales Finance Act requires auto lenders -- and possibly F&I managers -- to ask applicants in the state for their race, ethnicity and gender. Some, including the state's banking commissioner, wonder whether asking such a question could violate federal discrimination laws.
In 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. The Wall Street panic and credit crunch that ensued devastated the U.S. auto industry. Apocalypse loomed. The publicly traded titans of American auto retailing were gravely exposed. One question stood above all: Could they avoid b
As 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.
In his first year as Ford Credit CEO, David McClelland has focused on dealer relationships, fintech solutions and affordability.
Despite the stigma surrounding the F&I manager role, most consumers surveyed find the F&I process to be transparent.
When selling F&I products, put the payments -- and the products -- into the context of consumers' daily lives, says F&I trainer Gerry Gould.
McGeorge Toyota in Henrico, Va., is saving transaction time, adding convenience for customers who don't want to visit the dealership.
Affordability has been one of the biggest F&I buzzwords of the last few years. But as interest rates and monthly payments continue to rise, affordability will likely come under threat.
A decade after the recession, delinquency rates have dipped lower than 2008 levels as credit scores for auto loan borrowers consistently rise, TransUnion said.
Increasing 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.
The company plans to better integrate its more than a dozen unique brands as it combines services under one Cox Automotive umbrella.
As used-vehicle sales rise and new-vehicle sales decline, AutoNation's F&I profit per unit will likely hold steady.
As interest rates rise, some dealership groups may consider implementing a hedging tool called a swap to keep payments manageable.
Floorplan 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.
Four of the six public dealership group peers are feeling a new-vehicle profit margin squeeze driven by BMW and Honda.
AutoNation's net income and revenue rose in the second quarter, primarily on gains in its used-vehicle business.
While new-vehicle sales are flattening and margins are tighter, used-vehicle sales are making up the difference.
Group 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.
If 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 the future of transportation?
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