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Courtesy of WardsAuto
Lithia Motors Sees Stock Prices Sink
Even in relatively good times Sid DeBoer expressed disappointment about what he considered to be Lithia Motors' under-valued stock. Now, with the auto industry treading water, there are other kinds of worries for Lithia's chairman and chief executive officer: Lithia stock is selling for less than a tenth of what it did at its high-water mark of $35.75 in March 2006, making the company vulnerable to
Feb. 1, 2009 -
Courtesy of WardsAuto
Good Attitude Wins the Game
Image is everything, tennis star Andre Agassi says in a Nikon camera ad. But in these tough times, attitude is much more important to the survival of auto dealers. There are clearly a lot of things dealers don't control the economy, the type of cars your manufacturer makes, interest rates and lender rules. But you do control your attitude and that can affect how you respond to the current business
By Hugh Roberts • Feb. 1, 2009 -
Courtesy of WardsAuto
Where Performance Meets Economy
You can make a case for putting BMW AG's powerful and efficient 3.0L turbodiesel in just about anything on wheels, but nowhere does it make more sense than in the BMW X5 xDrive cross/utility vehicle. Sharpening your pencil and trying to use fuel-cost savings alone to justify the $4,000 premium for the $52,025 diesel version of the X5 xDrive 35d vs. the $47,925 I-6 gasoline-powered xDrive 30i is not
By Drew Winter • Feb. 1, 2009 -
Courtesy of WardsAuto
Formula to Predict the Future
Edward Altman, a professor of finance at New York University's Stern School of Business, developed the Altman Z in 1968 to measure the financial health of a company and forecast the probability that a company would enter into bankruptcy within a two-year period. Studies measuring the effectiveness of the Z Score show that the model has over a 70% reliability factor. With a 40-year history and 70%
By Don Ray • Feb. 1, 2009 -
Courtesy of WardsAuto
4 Tips for Spending Wisely update from February 2009
We often hear sales pitches from representatives of Internet-related services and products. Sometimes we even have empathy for the person making the pitch. We tend to recognize the difficult role of a salesperson, based on our own experiences. You've probably never heard a pitch in which the salesperson hasn't suggested the product would be great. As the buyer, we sometimes are guilty of being overly
By David Kain • Feb. 1, 2009 -
Courtesy of WardsAuto
Mitsubishi Needs Mainstream Model ‘Cut Above’ Rest, Says Dealer
Dealer Ramsay Gillman says Mitsubishi needs to be “bold” in creating a new volume model and possibly subsidize its sales in order to survive in the U.S.
By Christie Schweinsberg • Jan. 26, 2009 -
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New Online Solution Links Dealers to Independent Repair Shops
Repairlink with MORE is a single-source online sales channel through which independent repair facilities can order genuine automotive parts from franchised dealerships.
By Derek Stark • Jan. 24, 2009 -
Courtesy of WardsAuto
NADA Shifts Into Crisis Mode, But Is It Doing Enough?
NADA officials admit there are serious challenges ahead in the short term, including a significant downturn in membership and revenue.
By Cliff Banks • Jan. 22, 2009 -
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In Loan Turndowns, Debt Can Trump Good Credit Scores
“Debt to income is probably more important today than it ever was,” Gary Allgeier says. “It’s critical, but often its importance is an unknown.”
By Steve Finlay • Jan. 14, 2009 -
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Reporter’s Notebook: Fit to Print, or Not
Ward’s writers pass along the buzz at this week’s 2009 North American International Auto Show in Detroit.
By Ward's Staff • Jan. 14, 2009 -
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Sen. Corker ‘Stunned’ at UAW Resistance to Lower Labor Costs
Corker tells Ward’s his goal is to help GM achieve long-term viability, so it can bring vehicles such as the Volt and Converj to the American people.
By James M. Amend • Jan. 13, 2009 -
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Reporter’s Notebook: My Way or Highway
Ward’s writers pass along the buzz at this week’s 2009 North American International Auto Show in Detroit.
By Ward's Staff • Jan. 13, 2009 -
Courtesy of WardsAuto
Learn What May Be Lacking
Periodically, step back and take stock of your inventory-control and management performance. During the course of day-to-day business in the parts department, much is taken for granted. Too often, problems go undetected until they become obvious and looming. By then you are either applying a quick fix or feeling overwhelmed. By answering the following questions, you can quickly assess the performance
By GARY J. NAPLES • Jan. 1, 2009 -
Courtesy of WardsAuto
New E-Report Card Grades Online Inventory Management
A new e-report card is intended to help managers of auto dealership Internet sales departments to turn online inventory faster and at good grosses. AutoUpLinkUSA's eReport Card gives dealership e-commerce managers a real-time summary of their online listings' performance so adjustments for improving results can be made quickly, if necessary. Such improvements include keeping online vehicle listings
Jan. 1, 2009 -
Courtesy of WardsAuto
Inside Look at a Dealer-Management System Conversion: How 1 Dealership Did It
Picking the right dealer-management system can keep a dealer awake at night. Select the wrong one and it can affect employee morale along with putting a hurt on the bottom line. Matt Dagenais, one of three brothers (Tim and Paul are the others) who run the Riverside Auto Group in Escanaba, MI, shares his insight and experience following a recent conversion the group decided to do. Ten years ago, Riverside's
By Cliff Banks • Jan. 1, 2009 -
Courtesy of WardsAuto
Pay-Per-Lead Program Gets Started for Used-Car Stocks
AutoUSA, a firm that provides Internet sales leads to auto dealers, launches a used-car inventory pay-per-lead plan for dealerships. With the new program, piloted by dealership chain AutoNation Inc., dealers post their used-vehicle inventory at top automotive sites. Those include AOL Autos, CarPerks.com, Overstock.com, AutoMedia.com, CarDomain.com and AutoUSA's used-car website, AutoUSAused.com. With
Jan. 1, 2009 -
Courtesy of WardsAuto
Proton Finalizes Agreement to Assemble Gen2 in Iran
Zagross Khodro, which originally announced it would begin assembly of the Gen2 in 2005, now plans to begin building the model in April at its assembly plant in Borujerd.
By Alan Harman • Dec. 29, 2008 -
Courtesy of WardsAuto
Chevy Volt’s Attention to Detail Extends to Wheel Design
Forged aluminum wheels are twice as strong, more durable and typically 20% lighter than cast aluminum, Alcoa says.
By James M. Amend • Dec. 23, 2008 -
Courtesy of WardsAuto
Suzuki President Resigns, Predecessor Assumes Post
Osamu Suzuki, who is married to the granddaughter of the auto maker’s founder, takes over from current President Hiroshi Tsuda, who is stepping down for health reasons.
By Ward's Staff • Dec. 10, 2008 -
Courtesy of WardsAuto
Proton Begins Rolls Out of Persona in Middle East
The auto maker’s Egyptian distributor reportedly aims to initially sell 2,000 Protons annually and more than 5,000 units a year by 2010.
By Alan Harman • Dec. 3, 2008 -
Courtesy of WardsAuto
Navigation Preferences Vary by Age, Study Shows
The survey concludes a significantly higher percentage of younger users download search and traffic information, a feature often found on phone- or PDA-based systems.
By Byron Pope • Dec. 3, 2008 -
Courtesy of WardsAuto
Hey, What’s This Guy Up To?
Despite all that's happened, Edward Lampert is optimistic about the U.S. auto business. Who? Lampert is a sophisticated investor who could dramatically change the automobile business, becoming a major player in vehicle sales, service and repair. The Yale graduate, through his hedge fund ESL Investments and other holdings, has quietly become the owner of 44% of AutoNation Inc., the nation's biggest
By Marty Bernstein • Dec. 1, 2008 -
Courtesy of WardsAuto
Analysis Says Hispanics Pay More for Used-Car Loans
The Consumer Federation of America and its Hispanic America Saves initiative released an analysis on interest rates for car loans, comparing rates received by Hispanic borrowers to rates received by borrowers from the general U.S population. The analysis shows a significant disparity between used-car loans extended to the different groups, with Hispanics paying more, according to the federation. In
Dec. 1, 2008 -
Courtesy of WardsAuto
After 60 Days in Stock, Ouch!
Fresh units sell is a common statement among pre-owned vehicle dealers that's probably as old as the business itself. I have no idea when I first heard that. It just seems to be part of the knowledge that is imparted to pre-owned vehicle managers as they grow up in this business. It is an axiom that dealers all seem to believe, but they often choose to ignore by holding on to aged inventory. If pre-owned
By Tony Albertson • Dec. 1, 2008 -
Courtesy of WardsAuto
Salesman Accused of Odometer Fraud in Michigan
A salesman at Huntington Ford in Rochester, MI, is accused of installing switches that let customers leasing cars shut off odometers. Randall Hill faces charges of odometer fraud, a 5-year felony. He allegedly demonstrated the odometer device to undercover police officers, who, on a tip, went to the dealership, posing as customers. Police say the dealership wasn't aware of the scheme. Also charged
Dec. 1, 2008
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