Dealers: Page 37
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Courtesy of WardsAuto
Vehicles Hard to Get, But Auto Financing Isn’t
“The higher prices haven’t affected the availability of credit,” says Cox Automotive’s Andy Mayers.
By Steve Finlay • Jan. 3, 2022 -
Courtesy of WardsAuto
Specter of Tax Hikes Driving Dealership M&A Activity
“Sellers are laser-focused on closing before the end of the year” because the potential tax changes could greatly increase the tax bill for selling dealers, says Erin Kerrigan, co-founder of Kerrigan Advisors, Irvine, CA.
By Jim Henry • Dec. 29, 2021 -
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
Column
2021: Rollercoaster Ride Ends Poorly
Light-vehicle sales will increase by a modest 4.8% in 2021 to 15.3 million units, a level that is 1.3 million below what current economic conditions would support.
By Warren P. Browne • Dec. 27, 2021 -
Courtesy of WardsAuto
Survey: Many Car Shoppers Want to Talk to F&I Managers
A car dealership department that consumers once frequently complained about is gaining favor in the digital age.
By Steve Finlay • Dec. 20, 2021 -
Courtesy of WardsAuto
Alcantara Claims Vindication in Case Against Rival Miko
An Italian court has upheld eight separate claims that Miko, the latest competitor in the field of supplying synthetic materials for premium car brands, has made marketing statements for its product, Dinamica, that are shown to be unsubstantiated.
By Paul Myles • Dec. 15, 2021 -
Courtesy of WardsAuto
CarMax Study Ranks Levels of Automotive Loyalty
Brands that consumers stick with the most are all luxury: Lexus, Mercedes-Benz and Cadillac.
By Steve Finlay • Dec. 9, 2021 -
Courtesy of WardsAuto
Column
Auto Marketers Can Enhance Online Buying Experience
The online business model is completely new for many auto marketers, and for OEMs to fully adapt to the change and provide a quality user experience, understanding user preferences is a must.
By Anto Inigo • Dec. 8, 2021 -
Courtesy of WardsAuto
Column
Dealers Have Tools to Take Guesswork out of Rebates
To create an improved retailing environment and consumer experience, manufacturers, lenders and retailers must eliminate the disconnect between what consumers are being quoted online compared to what they are presented with at the store.
By Rusty West • Dec. 7, 2021 -
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
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