Dealers: Page 114
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Courtesy of WardsAuto
Appaloosa Claims $82.5 Million Due After Killing Delphi Investment
Appaloosa’s decision to exit Delphi’s financing plan is not entirely surprising, as the firm previously had expressed dissatisfaction with GM expanding its influence over Delphi.
By Ward's Staff • April 4, 2008 -
Courtesy of WardsAuto
Auto Leasing a Tough Game
A lot of banks bailed out of auto leasing when residual losses became overwhelming in the late 1990s and early 2000s. Now that leasing is making a comeback of sorts and residual forecasting has become more accurate, should banks get back in? That would be unwise, says Bruce Harris, a vice president at VW Credit Inc., a captive finance firm and subsidiary of Volkswagen of America Inc. Leasing is a
By Steve Finlay • April 1, 2008 -
Explore the Trendline➔
Courtesy of Kia Corporation
TrendlineArtificial Intelligence
Automakers and dealers alike are increasingly seeing the use case for AI within their operations. Explore some use cases in this trendline.
By WardsAuto staff -
Courtesy of WardsAuto
Dealership Built to Wow ‘Em
The first Lamborghini dealership in the St. Louis area and the 100th store worldwide for the Italian auto maker opens this month in Chesterfield, MO. The $3.8 million facility, being built by ARCO Construction Co., will showcase the high-performance super sports cars with prices that can approach half a million dollars. Entrepreneurs J.J. Mills and Graham Hill of St. Louis Motorsports are partnering
April 1, 2008 -
Courtesy of WardsAuto
It’s Getting Ugly at Chamco
A board of directors' rebellion and the ensuing shareholders' end run are central to the dispute over which group is running Chinese America Cooperative Automotive Inc. (Chamco), the embattled importer attempting to pioneer the U.S. distribution of China-built vehicles. Against a backdrop of bitterness, mistrust and family intrigue, two factions have emerged from within Chamco, with each claiming
By Christie Schweinsberg • April 1, 2008 -
Courtesy of WardsAuto
Rapper 50 Cent Pitches Car Power
Rapper 50 Cent was on hand to establish the street cred of three new Pontiacs unveiled at the New York auto show the '09 Solstice Coupe, '09 G8 GXP and '10 G8 sport truck. As the owner of a Pontiac G6 GXP, the 32-year-old former drug dealer, born Curtis James Jackson III, took to the stage alongside Pontiac General Manager Jim Bunnell and GM product guru Bob Lutz to rave about the brand's newest entries.
By Tom Murphy • April 1, 2008 -
Courtesy of WardsAuto
Who Needs F&I Training?
Which dealership employees should get training in finance and insurance practices? F&I staffers seem an obvious choice for such instruction. Trainer Pam Barker includes a less obvious candidate: vehicle-sales managers. I encourage the sales manager and floor manager to go to F&I training, she says. That would help them understand the importance of F&I as a profit center and the benefit of vehicle-sales
By Steve Finlay • April 1, 2008 -
Courtesy of WardsAuto
Like a Relay Team
Telephony is the first area Shaun Kniffin mentions when asked what three areas he considers most critical for dealers wanting to strengthen their Internet operations. Kniffin, who manages the business-development center and phone operations for the Germain Motor Co. in Columbus, OH, says there are two areas to measure: How well do we make phone calls, and how well do we answer them? The phone is the
By Cliff Banks • April 1, 2008 -
Courtesy of WardsAuto
Out of the Ashes
In 2005, everything seemed to be going well for subprime auto lender Centrix Financial. Centrix owner Robert Sutton had brought a novel business model to subprime. His firm arranged loans in conjunction with credit unions that, by their charter, were not permitted directly to partake in financing. Sutton worked out an arrangement in which credit unions would provide the loan money and Centrix would
By Steve Finlay • April 1, 2008 -
Courtesy of WardsAuto
Fraser Ushered in New Era for United Auto Workers
Former United Auto Workers President Douglas Fraser, who ushered in a new, more cooperative era between the labor union and Detroit's auto makers, died Feb. 23 at age 91. Fraser, who ran the union from 1977 to 1983, was considered its most influential leader, save for Walter Reuther, Fraser's mentor and the UAW's founder. Fraser witnessed up close his share of labor crises over the years, having joined
March 1, 2008 -
Courtesy of WardsAuto
Sky’s Limit for New Sunroof
John Thomas borrows a catch line from the TV series to describe one of the qualities of his company's new sunroof. Because of the reduction in wind noise, it's a story about nothing, Thomas, Webasto Product North America Inc.'s vice president-marketing, says of the TVS (Twin Vent Sunroof) 900. He calls it the first major change in aftermarket sunroof design in a decade. Webasto is making a special
By Steve Finlay • March 1, 2008 -
Courtesy of WardsAuto
Save a Dealer!
The oldest family-owned Dodge dealership is in danger of being forced to close or sell its operation (Read the entire story on page 14). The store is Tator Dodge in New York. Of the 25 franchises the Dodge brothers handed out in 1925, Tator is the sole remaining store still owned by its original family. According to the story, Chuck Tator, the current owner, is fighting Chrysler LLC to stay in business.
By Cliff Banks Editorial Director 248-799-2649 [email protected] • March 1, 2008 -
Courtesy of WardsAuto
Moods Swing at Convention
One of the happiest-looking people at the 2008 National Automobile Dealers Assn. convention in San Francisco is a guy manning a booth where gorgeous show models check in. Whenever I pass by, he's invariably chatting with tall and beautiful women who register with him en route to their work stations on the exhibition floor. Their job is to stand around looking great, often in provocative dress, as
By Steve Finlay • March 1, 2008 -
Courtesy of WardsAuto
Camera-Shy In F&I Office
It's not that dealership finance and insurance managers are bashful types, but some are camera-shy when it comes to the prospect of video recording customer transactions and interactions in their offices. So says Bob Elbrader, founder and director of operations for Intravision Technologies, providers of video equipment for dealership F&I offices. A lot off F&I managers say, Why do I want to record
By Steve Finlay • March 1, 2008 -
Courtesy of WardsAuto
MileOne Launches Mobile Site
MileOne/Atlantic Automotive is rolling out what it says is the first dealership mobile website for customers searching for new and used cars. MileOne's 65 dealerships along the eastern seaboard generate approximately $1.3 billion in annual revenue and is one of the top-10 largest franchised dealer groups in the country. The site gives customers access to all MileOne's inventory along with photos and
By Cliff Banks • March 1, 2008 -
Courtesy of WardsAuto
Dealers Balk at Auto Makers’ Facility Demands
Mike Maroone is unconvinced elaborate showrooms help sell cars all that much, noting two-thirds of AutoNation’s customers are online shoppers.
By Steve Finlay • Feb. 9, 2008 -
Courtesy of WardsAuto
Dealers Need to Stay Involved
New NADA Chairman Annette Sykora wants to keep energy issues at the forefront in the minds of dealers and continue to preach the value of a dealership career, while maintaining a close eye on manufacturer actions.
By Cliff Banks • Feb. 7, 2008 -
Courtesy of WardsAuto
NADA Leaders Question Claims of Dealer Overpopulation; Creative Retailers Abound
All franchised car dealers don't think alike, especially when it comes to the hot-button topic of whether there are too many of them. Whoever says there are and the chorus is concentrated at the factory level might not have surveyed the many dealers who challenge the claim that the nation is overpopulated by car dealers, particularly those representing domestic brands. Market play and the individual
By Mac Gordon • Feb. 1, 2008 -
Courtesy of WardsAuto
What Exactly Does That Mean?
I read an article about what could happen if automotive terms that the public doesn't understand show up in dealership advertising. As example cited was using in advertisements. What does W.A.C. mean? More on that in a moment, but I've been in this business for years, and didn't know what it stood for. I remember when I first started in this business the challenges I faced were many. Leading the pack
By Wayne A. Fortier • Feb. 1, 2008 -
Courtesy of WardsAuto
Covering Your Rear, Part II
Last month we discussed what you need to consider when developing an APA (Asset Purchase Agreement). We scratched the surface so, as promised, here is more, based on a presentation by Robert Bass of Myers & Fuller, P.A. and Robert Davis of Dixon Hughes, PLLC. I know it's not the most exciting reading, but knowing these things may save your hide in a dealership transaction. Miscellaneous items to consider
By Don Ray • Feb. 1, 2008 -
Courtesy of WardsAuto
Veteran Dealers Show Their Resiliency During Tough Times
NOVI, MI It's a time of challenges for auto dealers, and a meeting here of the Michigan Assn, of Certified Public Accountants' automotive sector addressed a lot of them. Emerging throughout the day-long session is the resiliency of franchised dealers in the face of top-management changes at two domestic auto makers, the ability of dealers to sustain cutbacks by their manufacturers and the vital role
By Mac Gordon • Feb. 1, 2008 -
Courtesy of WardsAuto
They’re Not Just Car Doors, They’re Auto Marketing Sites
To John Wingle, car doors are more than just means of getting in and out of a vehicle. If the car is on a dealer's lot, its doors make great spots to put marketing messages about the vehicle and the dealership selling it, Wingle says. He founded OnSight Solutions, a firm specializing in banner-like advertising that's affixed to the sides of lot vehicles. A typical banner includes graphics, the dealership
By Steve Finlay • Feb. 1, 2008 -
Courtesy of WardsAuto
Sell Warranties without Dissing the Car
Extended service contracts are best sellers at most auto dealership finance and insurance departments, but selling them can be tricky. Here's why: First, the car salesperson touts the quality of a vehicle. Then, the F&I manager tells the same customer a purchased extended service agreement covers repairs. How can a dealership reconcile painting one picture of a car's reliability and another of its
By Steve Finlay • Feb. 1, 2008 -
Courtesy of WardsAuto
Buy-Here/Pay-Here Dallas Dealer Buys New-Car Franchises
Suzuki and Mitsubishi franchises have been acquired by a rare buyer an upwardly mobile buy-here/pay-here Dallas dealer, Chacon Autos, Ltd. The 42-year-old used-car retailer is entering the new-vehicle business because it was losing customers to new-car dealers. One-time perennial buyers of $5,000-$6,000 pre-owneds now can qualify for loans or leases on brands with entry-level cars costing up to three
By Mac Gordon • Feb. 1, 2008 -
Courtesy of WardsAuto
In Auction Lanes, Reposssed Vehicles Stand Out But Most Buyers Don’t Shun Them
As an auto-auction owner, Lynn Weaver can easily spot the repossessed vehicles in the bidding lanes. Compared to a bunch of program vehicles of the same model and color, the repo cars are different colors and have different variations, says Weaver of Harrisburg Auto Auction in Mechanicburg, PA. He says lenders selling such repossessed cars are up front about their origins when putting the vehicles
By Steve Finlay • Feb. 1, 2008 -
Courtesy of WardsAuto
‘Dude, Where’s My Car?’
Auto repossessions are expected to increase, as the auto-financing industry anticipates more loan delinquencies in 2008.
By Steve Finlay • Jan. 11, 2008
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