Dealers: Page 36
-
Courtesy of WardsAuto
Selling Easy, Replenishing Stock Hard for Car Dealers
“It’s just tough,” CARite Auto Group CEO Jeff Bartlett says of a nationwide dealership inventory dearth.
By Steve Finlay • Dec. 3, 2021 -
Courtesy of WardsAuto
Auto Loan Amounts Growing, But Delinquencies Down
The average new-vehicle monthly auto loan payment reached $609 in the third quarter vs. $565 a year ago, or $553 two years ago, the Experian Automotive report says.
By Jim Henry • Dec. 2, 2021 -
Courtesy of WardsAuto
TrueCar’s New Platform Does Full Transaction for Auto Dealers
In a WardsAuto Q&A, TrueCar CEO and President Mike Darrow speaks of an ambitious initiative being tested in Florida.
By Steve Finlay • Nov. 30, 2021 -
Courtesy of WardsAuto
Car Dealers Shouldn’t Completely Emulate Amazon
Unlike the e-commerce retailing giant, auto retailers need to be ready to address online customer concerns, says Kevin Filan of Cox Automotive.
By Steve Finlay • Nov. 24, 2021 -
Courtesy of WardsAuto
Dealership Acquisitions Bound for Record-Breaking 2021
According to the recent Haig Report for the third quarter of 2021, buy-sell activity is expected to reach an estimated 575 dealerships this year, a 24% increase over the previous record of 463 in 2015.
By Jim Henry • Nov. 23, 2021 -
Courtesy of WardsAuto
Car Dealers Speak Out on Staying Relevant
Dealers should continue to fight on the side of franchise laws but not become fixated in the process, says Bill Cariss, president and CEO of Holman Strategic Ventures.
By Steve Finlay • Nov. 22, 2021 -
Courtesy of WardsAuto
Fixed Ops Highlighted at Future Dealer Conference
Over-the-air updates could enable technicians to identify and diagnose a problem remotely and have the parts ready for a vehicle service appointment, boosting a dealer’s efficiency and net income, says Bill Cariss, president and CEO of Holman Strategic Ventures.
By John F. Possumato • Nov. 22, 2021 -
Courtesy of WardsAuto
Economies of Scale Boost Megadealer Fortunes
Automotive Tech Week panelists cite recent blockbuster mergers, such as Sonic Automotive acquiring RFJ Auto Partners in Plano, TX. That $700 million deal, announced in September, is expected to close by year’s end.
By Jim Henry • Nov. 18, 2021 -
Courtesy of WardsAuto
How Chip Shortage Impacts Car Buyer Behavior
The chip shortage has had major impacts on the automotive inventory, but just how disruptive to car buyer behavior? Consumer research compares shoppers’ attitudes when impacts were first realized to their buying behavior now that awareness is more widespread.
By Industry Voices article by AutoTrader • Nov. 15, 2021 -
Courtesy of WardsAuto
Auto Loan, Lease Values Up in Q3 Despite Sales Slump
U.S. auto finance originations reached their second-highest quarterly total in third-quarter 2021, reflecting “quite high” auto prices, New York Federal Reserve researchers say.
By Jim Henry • Nov. 11, 2021 -
Courtesy of WardsAuto
Study: Customer Satisfaction Holds Firm Despite Thin Vehicle Inventory
Car dealers “have overcome what might be thought of as a challenging sales environment for shoppers,” says J.D. Power’s Chris Sutton.
By Steve Finlay • Nov. 10, 2021 -
Courtesy of WardsAuto
Column
Dealers Buying Cars Off Street Not a New Trend
Dealers who had a seasoned internal process for private-seller buys coming into the pandemic have benefited the most during the current vehicle shortage. Last year, a Spokane dealer netted more than $64,000 in profit from 24 vehicles acquired off the street.
By Ryan Gerardi • Nov. 8, 2021 -
Courtesy of WardsAuto
Auto Loan, Lease Delinquencies Below Pre-COVID Levels
TransUnion says serious auto delinquencies, defined as 60 or more days overdue, accounted for 1.38% of outstanding loans and leases in the third quarter, down from 1.46% a year ago. In Q3 2019, it was 1.40%, the credit bureau said.
By Jim Henry • Nov. 5, 2021 -
Courtesy of WardsAuto
Column
It Pays for Auto Industry to Hire People With Disabilities
A Cox Automotive survey recommended dealerships actively promote their vacancies to people who lack automotive experience. It says potential candidates need a can-do attitude, good communications skills, adaptability and must be tech-savvy.
By Nick Wyman • Nov. 5, 2021 -
Courtesy of WardsAuto
Why Dealers Need to Pay Attention to Claims Yield
The higher your claims yield percentage is, the more revenue from service claims goes directly to your bottom line. How much more? This metric can significantly impact profitability.
By Scot Eisenfelder • Nov. 3, 2021 -
Courtesy of WardsAuto
Parts, Service Revenue Up in Q3 for Big Dealer Groups
Big publicly traded, franchised dealer groups say customers are getting service work done that was put off due to the coronavirus pandemic.
By Jim Henry • Nov. 2, 2021 -
Courtesy of WardsAuto
Cashing In on EV Trifecta: Interested Consumers, EV Education, Alt Retail Formats
The auto industry is undergoing a revolutionary change. The inevitability of an electrified future is fast approaching. Understand the coming changes to prepare your dealership today.
By Industry Voices article by Urban Science • Nov. 1, 2021 -
Courtesy of WardsAuto
Agency Model: Developing Trend in New Car Retailing?
Under the agency model, the franchise dealer no longer is the focal point of a new vehicle sale; instead, the customer places an order directly with the OEM and names a preferred delivery dealer. The price and dealership mark-up or commission is set by the OEM.
By John F. Possumato • Nov. 1, 2021 -
Courtesy of WardsAuto
Sonic Automotive Moves to Acquire Texas Dealer Group
The RFJ Auto Partners acquisition is expected to close in December, Sonic says. With the addition of dealerships for five new brands to Sonic’s lineup: Chrysler, Dodge, Jeep, Ram and Mazda.
By Jim Henry • Oct. 29, 2021 -
Courtesy of WardsAuto
Column
Digital Shift Presents Aftermarket Opportunities
In response to market changes, aftermarket businesses have had to shift to more digital-centric experiences through apps and loyalty programs and more robust online experiences with enhanced search capabilities, online ordering and more.
By Brian Moates • Oct. 28, 2021 -
Courtesy of WardsAuto
High Prices Prompt Bad Reviews of Car Dealerships, Study Says
“You can’t fault dealers for charging market price, but you have to be sensitive,” says Ali Fawaz of the company Reputation.
By Steve Finlay • Oct. 28, 2021 -
Courtesy of WardsAuto
Consumers Prepping for Car Dealership Visits Helps All Involved
“It’s not a 10-minute transaction,” but technology can help make the car deal go faster, says Chuck Schofield of Digital Motors.
By Steve Finlay • Oct. 27, 2021 -
Courtesy of WardsAuto
Flexible Menu Solutions for Better Compliance
Regulatory agencies are paying closer attention to automotive aftermarket sales, so dealers need flexible menu solutions that support their sales processes.
Oct. 25, 2021 -
Courtesy of WardsAuto
Rivian Ramps Up BEV Production, Opens Retail Center
In documents filed with the U.S. Securities and Exchange Commission, Rivian says it does not intend to use franchised dealers and is developing a network of service centers around the country to fix the vehicles it expects to sell online.
By Joseph Szczesny • Oct. 25, 2021 -
Courtesy of WardsAuto
Column
Getting More Out of Used-Car Reconditioning
Modern reconditioning to meet today’s consumer demand, whatever the market, is sound science as well as efficient, transparent and accountable. The system must get cars sale-ready fast to ensure the dealership meets customer demand efficiently and engagingly.
By Dustin Jones • Oct. 21, 2021
Previous
