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Let’s Get Personal
For many, the Internet and the ease of email and texting are seen as magic bullets that help speed car sales and lower overhead.
By Richard F. Libin • April 17, 2009 -
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Sonic Races to Avoid Bankruptcy
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.The clock is ticking for the Sonic Automotive Group which has till May 7 to either come up with the cash to pay $105.3 million in debt or re...
April 14, 2009 -
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He’s No Movie Star, But Repo Man Dan Has a Following
Repo Man, a 1984 film directed by former repo man Alex Cox, has become one of the top 10 cult movies, according to several such lists. It's the tale of a supermarket clerk who takes a job repossessing cars when owners fall far behind on payments. The film's popularity evidently comes from running sight gags, recreational drug use and hard-rock music. In other words, not the kind of movie that parents
By Mike Davis • April 1, 2009 -
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Lending Shifts to Small Banks
Think small may be the new mantra for auto dealers hooking up with lenders other than giant banks. We're seeing a shift towards more localized, decentralized lenders, says Mike Kane, senior vice president-client services for CitiFinancial Auto. Some large banks are reeling from the current credit crisis, brought on by dubious lending practices and securitization run amok. Banking losses totaled $26.2
By Steve Finlay • April 1, 2009 -
Courtesy of WardsAuto
Suzuki Says ‘09 Equator for Fullsize Pickup Bailers, Others
Just because some downsizing big-pickup owners might not buy another one doesn't mean they are going to end up in a Smart ultra-compact car. They may find a midsize pickup just right, says Gene Brown, vice president-product planning for American Suzuki Motor Corp. If so, Suzuki is ready for them with its first foray into the pickup segment, the '09 Equator. If your motive is for your truck to be Texas-size,
By Steve Finlay • April 1, 2009 -
Courtesy of WardsAuto
If People Keep Autos Longer, There Is Business to Be Had
The recession has not only hit the home, it has hit the garage. A new study by DriverSide.com and Kelton Research indicates more than four out of every five U.S. car owners now plan to keep their current car longer than originally planned, due to the bad economic climate. Eight-two percent say they intend to do so, according to the survey of vehicle owners age 18 and over. The study claims to be the
April 1, 2009 -
Courtesy of WardsAuto
Dealers See Increase in Internet Leads
Despite the overall downturn in vehicle sales, dealers on this year's Ward's e-Dealer 100 ranking report seeing significant increases in the number of Internet-generated leads the last few months. What does this trend mean for the next few months, and what does it mean for dealers' businesses the next few years? Some dealers believe the increase in leads portends a big summer selling season and they
By Cliff Banks • April 1, 2009 -
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Limbo Land of Auto Finance
Two polar opposites live in the limbo land of today's auto financing. One group consists of people with good credit who refuse to take on more debt, fearing the worst and unconvinced the decimation of their 401k plans is done. Then there are those who live on credit, seek it, but learn the safe is locked and the key stashed. For much different reasons, neither group is in the market to buy cars. One
By Steve Finlay • April 1, 2009 -
Courtesy of WardsAuto
Philly Dealer: Online Chat Helps Sales
If Rothrock Chevrolet's Andre Johnson questioned whether online chat could help him sell more cars, he's a convert now. It was amazing, he says, noting his Philadelphia-area dealership sold six cars in its first week of chatting with prospective buyers on the Internet. They are no longer prospective buyers, he says. They're now buyers. If they're going to chat, they want to know, Do you have that
April 1, 2009 -
Courtesy of WardsAuto
Welcome to Limbo Land of Auto Finance
With so many skittish would-be car consumers stuck on the sidelines, dealers wince at deeper and longer credit checks for the few brave hearts that are in the market.
By Steve Finlay • March 9, 2009 -
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MIT Team Develops Super-Regenerative Shock Absorber
The shock absorber converts energy from road bumps into electricity, while smoothing a vehicle’s ride more effectively than conventional shocks.
By Herb Shuldiner • March 5, 2009 -
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U.S. Stimulus Plan Fails to Generate Auto-Sales Momentum
Politicians call on the Federal Reserve and U.S. Treasury to provide car dealers with access to the $200 billion Term Asset-Backed Securities Loan Facility.
By James M. Amend • March 4, 2009 -
Courtesy of WardsAuto
Three-Step Improvement Plan update from March 2009
When times are bad, people want answers and solutions that work. Let's explore a 3-step approach that will help improve any dealership department. What am I doing now? Do you clearly understand the road to revenue or process flow from origination to transacting business? For example, are customers handled the same way every time by every salesperson? How detailed is that instruction? Is every phone
By CORY MOSLEY • March 1, 2009 -
Courtesy of WardsAuto
New No.1 Turndown Reason
Detroit High credit scores remain important for getting an auto loan, but in many cases they are no longer the chief factor lenders look at. Instead, financial institutions are zeroing in on debt-to-income ratio to determine the likelihood of a consumer paying back a car loan, says Gary Allgeier, director-financial services for the Suburban Collection, a 48-franchise dealership group with stores in
By Steve Finlay • March 1, 2009 -
Courtesy of WardsAuto
A Coupe That Lives Large
You know you're driving a big coupe when you pull up to a toll booth and the grille bumps the gate arm before you reach the pay window. Such are the tradeoffs of living large. And when your view of the world is perched on the graceful back of the famed Spirit of Ecstasy hood ornament, your life not only is large, but far removed from the lives of almost everyone else on the planet. Rolls-Royce is
By Eric Mayne • March 1, 2009 -
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Miata Turns 20 Amid Declining Sales
As Mazda Motor Corp. celebrates the 20th anniversary of the venerable MX-5 Miata sports car, the bottom has fallen out in the 2-seat roadster segment due to the ailing economy. In 2008, the Middle Specialty car segment in which the Miata resides was off 27.2% vs. like-2007 to 191,213 units, while Mazda as a whole saw sales decline 10.9% to 263,949, Ward's data shows. Miata sales for full-year 2008
By Byron Pope • March 1, 2009 -
Courtesy of WardsAuto
Moving the Metal
In this harsh economic climate, auto shows are going lean. Lavish parties and Hollywood-style vehicle debuts are pass. Back is the low drama of pulling a sheet off a car. Some people might not like that trend, but the organizers of the Chicago Auto Show are quick to point out that auto shows exist for one reason only: to move the metal. It's time to say good-bye to the days of over-indulgence in auto
By Ward's Staff • March 1, 2009 -
Courtesy of WardsAuto
Come Out withYour Sales Up!
AutoSoft Traffic COP is a new e-tool that enforces dealership control and accountability of customer-relationship management efforts at dealerships. That includes managing sales opportunities from the showroom floor, service drive, phone-ups, advertising media and online leads. The system introduced by AutoSoft International features highly visible management oversight and enforces sales, service
March 1, 2009 -
Courtesy of WardsAuto
First Korean-Built Chevy Cruze Shipment Sails for Europe
“Export of this segment-leading new product will play a pivotal role in the ongoing growth of GM and GM Daewoo,” GMDAT sales executive Rick Labelle says.
By Vince Courtenay • Feb. 27, 2009 -
Courtesy of WardsAuto
Tire Pressure Monitoring Rollout Rolling Along
Aside from ham-handed technicians occasionally damaging tire-pressure sensing systems when they were new, the rollout of FMVSS 138 is going as planned. OEMs have complied and Europe is preparing its own standard.
By Tom Murphy • Feb. 26, 2009 -
Courtesy of WardsAuto
Scion Concept to Debut in New York Hints at Brand’s Fourth Model
An additional model long has been discussed for the brand’s lineup, which now consists of the xD subcompact, boxy xB CUV and tC sport coupe.
By Christie Schweinsberg • Feb. 25, 2009 -
Courtesy of WardsAuto
200EX Closer Look at Upcoming Baby Rolls
As with the Phantom, the 200EX features rear-hinged coach doors that open a full 83 degrees for easier access to the rear passenger compartment.
By Ward's Staff • Feb. 20, 2009 -
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Mahindra Pickups to Hit U.S. Dealers in December
Previously, Global said it would assemble vehicles in the U.S. from knocked-down kits, but it has decided to begin sales with fully built trucks, despite facing higher duties.
By Herb Shuldiner • Feb. 12, 2009 -
Courtesy of WardsAuto
So Long, JM Solutions?
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.One of the more surprising stories coming out of the NADA convention in New Orleans is the near-dismantling of JM Solutions. One industry ex...
Feb. 3, 2009 -
Courtesy of WardsAuto
Loan Defaults Jar Lenders
In early 2006, finance trend trackers began detecting a disturbing rise in loan defaults and delinquencies, says Brent Burns, president of World Omni Financial Corp. The bad news is that we haven't seen it bottom out yet, he says, referring to a chart showing a sloping rise in consumer credit-quality deterioration. If you turn the chart upside down, it would look like it's going in the right direction.
By Steve Finlay • Feb. 1, 2009
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