Dealers: Page 34
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Courtesy of WardsAuto
ColumnThree Entrepreneurial Lessons for the Auto Industry
As any entrepreneur knows, when in doubt or you’re getting stuck in “analysis paralysis,” just get out there and do it.
By Randy Kobat • April 5, 2022 -
Courtesy of WardsAuto
It’s an Odd Time for Automotive Marketers
“It’s tough when clients say, ‘Why would I spend marketing dollars during this inventory situation?’” Equifax’s Joey Watson says in a Wards Q&A.
By Steve Finlay • April 4, 2022 -
Courtesy of WardsAuto
Auto-Loan Scammers Staying Busy
Auto-loan fraud reached an estimated $7.7 billion last year, “a number we, unfortunately, expect to continue rising,” says Point Predictive’s Frank McKenna.
By Steve Finlay • April 1, 2022 -
Courtesy of WardsAuto
Online Reviews Influence Car Dealers’ Service Customers
Online reviews are “the biggest influencers” of where customers shop, says Digital Air Strike CEO Alexi Venneri.
By Steve Finlay • March 23, 2022 -
Courtesy of WardsAuto
What Follows Auto-Inventory Dearth? Pent-Up Demand
“How long can record pricing and profits persist?” asks J.D. Power’s Thomas King.
By Steve Finlay • March 23, 2022 -
Courtesy of WardsAuto
International-Brand U.S. Auto Dealers Put on the Gloves
A proposal to limit EV tax credits to union-made U.S. vehicles is “anti-American,” says 2022 AIADA Chairman John Connelly.
By Steve Finlay • March 18, 2022 -
Courtesy of WardsAuto
Twenty Years Later, RouteOne Innovations Keep on Coming
“We are the hub in a hub-and-spoke model, with auto dealers using our platform to connect to lenders,” says Jeff Belanger, the company’s chief revenue officer.
By Steve Finlay • March 15, 2022 -
Courtesy of WardsAuto
Incoming, Outgoing NADA Chairmen Have Their Say
“Rather than letting seismic shifts rock us to the core, let’s make this a defining moment and create our own destiny,” says 2021 NADA Chairman Paul Walser.
By Steve Finlay • March 15, 2022 -
Courtesy of WardsAuto
Formerly a Top Auto Exec, He’s Now Nation’s Top Dealer
“One thing I would not do is fragment between EVs and ICE,” says AutoNation CEO Mike Manley, a former auto executive.
By Steve Finlay • March 11, 2022 -
Courtesy of WardsAuto
Auto Lenders See Borrowers Less Hung Up About Privacy
“We are going from a day when people said, ‘Oh, I don’t want you to have my data,’ to ‘OK, you can use it if it is to my benefit,’” says Ida McKinley of GM Financial.
By Steve Finlay • March 11, 2022 -
Courtesy of WardsAuto
Auto Dealers, Lenders Keeping an Eye on CFPB Again
The Consumer Financial Protection Bureau “is where it is happening,” American Financial Services Assn.’s Celia Winslow says of Washington concerns.
By Steve Finlay • March 10, 2022 -
Courtesy of WardsAuto
Used-Car Wholesaler Manheim Upgrades Imaging Technology
The improved images ultimately will automatically detect damage and generate more detailed, accurate — and importantly, more consistent — condition reports.
By Jim Henry • March 8, 2022 -
Courtesy of WardsAuto
TrueCar+ to Allow Consumers to Complete Entire Car-Buying Process Online
The new online portal will allow dealers to extend their sales reach and provide “instant access to a turnkey digital marketplace,” the Santa Monica, CA-based firm says.
By Wards Staff • March 7, 2022 -
Courtesy of WardsAuto
Some Car Dealers Good, Some Not-So-Hot at Handling Internet Leads
Don’t “blow off web customers because you got busy,” advises Pied Piper CEO Fran O’Hagan.
By Steve Finlay • March 7, 2022 -
Courtesy of WardsAuto
Car Dealers on One Side, Shoppers on the Other
“This ultimately makes sense” for auto retailing, says Presidio Group CEO Brodie Cobb.
By Steve Finlay • Feb. 25, 2022 -
Courtesy of WardsAuto
Column
Dealer Retention More Than Dollars and Cents for Vendors
If you provide value, prove your ROI and have great people providing concierge-level service, congratulations. You are off to a great start. But, of course, there is always more to the story.
By Mark Paul • Feb. 24, 2022 -
Courtesy of WardsAuto
Technology Leads with Future In-House Dealership Models
Editor's note: This story is part of the WardsAuto digital archive, which may include content that was first published in print, or in different web layouts.In the US and other jurisdictions around the world, the independently owned and operated car dealership has been part of the auto industry f...
By Eric Volkman • Feb. 24, 2022 -
Courtesy of WardsAuto
Megadealer Groups See Parts, Service Revenue Jump in 2021
Despite large gains in parts and service revenue, the recovery from the lows experienced in 2020 because of pandemic shutdowns continued to be slow for warranty work and for collision repair.
By Jim Henry • Feb. 22, 2022 -
Courtesy of WardsAuto
Canada, Mexico in Spat With U.S. Over Auto-Parts Sourcing
Canada and Mexico argue the U.S. is being overly demanding about North American parts sourcing, creating a risk that some Canadian and Mexican-made autos are not covered by the USMCA when exported to the U.S., and hence subject to duty.
By Keith Nuthall • Feb. 22, 2022 -
Courtesy of WardsAuto
New OnStar Initiative Bases Insurance Rates on Actual Driving
With traditional rate setting, “it’s often about who you are, not how you drive,” says Andrew Rose, president of GM’s OnStar Insurance.
By Steve Finlay • Feb. 18, 2022 -
Courtesy of WardsAuto
Column
How AI Enhances Data-Driven Marketing
Dealers who have yet to leverage data-driven marketing might want to prioritize it in 2022. The integration of AI promises to simplify the process of data access, analysis and the implementation of targeted, personalized marketing campaigns.
By Dan Dulik • Feb. 15, 2022 -
Courtesy of WardsAuto
Column
Prepare for Service Retention Rates to Drop
A perfect storm of factors will contribute to a nosedive in service retention rates and corresponding service revenue, quite possibly at a time when inventory levels are normalizing and front-end margins are dropping back to normal.
By Rob Volatile • Feb. 14, 2022 -
Courtesy of WardsAuto
Column
F&I Product Opportunities for Auto Dealers in 2022
F&I profits haven’t been hard to come by since the start of the pandemic. Total F&I revenue for some of the largest dealership groups in the U.S. jumped 4.5% in 2020 compared with 2019.
By Tim Blochowiak • Feb. 11, 2022 -
Courtesy of WardsAuto
Mullen Pursuing Hybrid Retail Model for Its BEVs
The upstart, Orange County, CA-based battery-electric-vehicle maker says it isn’t going all in on just direct or franchise sales.
By Christie Schweinsberg • Feb. 10, 2022 -
Courtesy of WardsAuto
Vehicle Demand High Despite Bigger Payments, NY Fed Says
Consumers eventually will reach a point where auto loans and leases become so unaffordable that demand will subside, but that point hasn’t been reached yet, the New York Federal Reserve reports.
By Jim Henry • Feb. 9, 2022
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