Dealership service-bay revenues are down as people work from home and venture out less often. But as vaccines are administered and people become more comfortable traveling, dealership groups are optimistic about...
The new facility is at Tradepoint Atlantic Terminal on a 35-acre site with a new, purpose-built, 75,000-sq.-ft. building. That’s roughly double the size of BMW’s current facility a few miles away and nearly doubles...
TransUnion reports serious auto loan delinquencies, defined as 60 or more days past due, increased substantially for customers with subprime credit in the fourth quarter vs. like-2019, to 9.05% from 7.41%.
Stronger auto sales are possible in the second half of 2021, given high U.S. household savings rates, pent-up demand, better availability of new cars and trucks, and increasingly effective vaccine distribution, says...
“The mission at NADA stays the same,” Stanton says. “We work for the dealer. We’re here to strengthen the franchise system, to help educate and advocate for the dealer business.”
Despite record 2020 dealership profits from car sales and Finance & Insurance products, there’s less demand for parts and service because COVID-19 has reduced wear and tear on vehicles, Lithia, Asbury and Group 1 report.
Closing rates for transactions on Clicklane are up “dramatically” compared to Asbury’s current online sales and lead generation platform, called PushStart, CEO David Hult says in a conference call announcing record...
Online sales tools are still basically lead generators, which “club the consumer over the head” until they ultimately come to the dealership to complete the deal, says Miran Maric, Asbury Automotive Group’s chief...
Panelists say dealers are offering what’s now a familiar menu of pickup and delivery and sanitizing customer vehicles, as well as new approaches where dealers get more value from customer data.
“People are falling in love with the second most lived-in space, and that’s the car,” Andrew Poliak, chief technology officer for Panasonic Automotive, says during a panel discussion at the recent CES 2021.
