Crain's Staff Jim Henry [email protected] See All Staff Page Recent Stories Fixed Ops Journal Statehouses are latest battlefield in longtime war between automakers and aftermarket A new campaign aims to enlist state lawmakers to mandate greater use of factory parts in collision repair. ACCESS F&I Quarterly rise in subprime originations a positive sign It's too soon to call it a trend, but third-quarter subprime auto originations rose from the year earlier for the first time in more than two years, the Federal Reserve Bank of New York and TransUnion said in separate reports last week. ACCESS F&I Subprime originations rise for the first time in two years It's too soon to call it a trend, but third-quarter subprime auto originations rose from the year earlier for the first time in more than two years, the Federal Reserve Bank of New York and TransUnion said in separate reports last week. Suppliers Delphi reports 50% drop in Q3 net income, sees more headwinds ahead Delphi Technologies reported sharply lower net income for the third quarter, largely due to factors that hit other supplier results, especially an unexpected decline in sales in China. Suppliers Big suppliers are touched by cars' slide, lower output Worldwide production cuts and the shift away from cars is casting a shadow on some suppliers. Suppliers Aptiv's Q3 net drops despite increase in sales as production falls in key markets The global automotive technology supplier reported its sales grew 11 percent to $3.5 billion in the third quarter, despite lower production volumes in some of its biggest markets, especially China and Europe. Suppliers Dana secures major Ford Edge contract as Q3 profits, sales rise The supplier said it will be the sole provider of disconnecting all-wheel-drive units on the 2019 Ford Edge crossover, a new feature designed to improve fuel efficiency. Dana's third-quarter sales and profits rose, driven by acquisitions and new contracts. Suppliers Visteon's Q3 earnings take hit as production slows globally Auto supplier Visteon reported lower production for its big customers in every major global automotive market, which dragged down the supplier's sales and profits in the third quarter. Suppliers BorgWarner stays bullish as Q3 net income rises 10% BorgWarner expects to continue to outperform the new-vehicle market — partly by ramping up its business in hybrids and electric vehicles — despite growing headwinds. Suppliers Lear struggles to predict 'slippery pig' production cycles, CFO says Given recent volatility in auto production schedules, trying to predict short-term production volumes is a slippery business right now, said Lear CFO Jeff Vanneste. Fixed Ops Journal Hurricane Florence disrupted dealership service, parts availability in Carolinas Many new-vehicle dealers in the Carolinas are grateful that their biggest worry in the aftermath of Hurricane Florence — aside from getting evacuated employees resettled and back on the job — was having enough parts delivered to meet an expected surge in service business. Suppliers Gentex posts bullish Q3 results, shares rise Sales and profits increased for mirror and electronics supplier Gentex in the third quarter despite new international tariffs, and despite softer-than-expected new vehicle production. ACCESS F&I Chase, Wells Fargo take measured approach to auto lending Wells Fargo and Chase Auto remain cautious on auto finance, although Wells Fargo increased auto loan originations last quarter, and Chase Auto Finance has increased lease originations for its private-label customers. Dealers Preparing employees for success results in a great place to work At 13 percent in 2017, employee turnover is strikingly low at Acura Turnersville, a Penske Automotive Group dealership on the outskirts of Philadelphia. Dealers Prizes, time off help build employee satisfaction at Nissan of Turnersville Nissan of Turnersville's general manager, John Fanelli, says he puts a lot of emphasis on rewarding performance and building camaraderie at the dealership. Load More
