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Dealer donates $2 million to create university environmental center

The owner of one of the largest new-car dealerships in Kentucky is donating $2 million to address a leading automotive industry issue the environment. Tracy Farmer, owner of Farmer Automotive Group Inc., is providing the gift to the University of Kentucky to establish a research and educational center. It will assist public and private organizations in addressing environmental issues and developing

March 1, 2001

REV UP THOSE USED-VEHICLE SALES

Many dealers fail to market used vehicles as effectively as they could, despite growing customer interest in pre-owned cars. So says Rik Kinney, reporting on Dohring Co.'s 2001 survey of consumer preferences and buying habits. My advice to dealers is to tap into that used-car market where there are tremendous opportunities, especially if there's a downturn in new-car sales this year, says Mr. Kinney,

By Steve Finlay • March 1, 2001

CURE IS IN SIGHT FOR THIS SHOP MALADY

"Erick Bickett Syndrome" can drive service managers crazy The Internet finally may be offering a cure for the "Erick Bickett Syndrome."If you're not familiar with the malady, it affects collision repair shop managers who end up with multiple computerized estimating systems because various insurers with whom they do business may each require different systems.For instance: The shop gets an Automated

By John Yoswick • Feb. 1, 2001

New Sebring ragtop aims to stay on top of the market

Fifty years ago, little Bob Goldenthal, holding a helium balloon from a family visit to the zoo, was returning home in his dad's spiffy convertible.Dad said, "So you don't lose the balloon, let's tie the string to your wrist." Three-year-old Bob said no. Up and away went the balloon minutes later. Down came the tears.Mr. Goldenthal got over that childhood traumatic experience. He's now the planning

By Steve Finlay • Feb. 1, 2001

Requiem for a heavyweight

Oldsmobile didn't need to die Maybe the name was a drawback:"Old," as in Oldsmobile. Passe. Antiquated. Obsolete. Dated. Outmoded. Stale. An old fogey in a nation that prizes youthfulness to the point of obsession. Now it's R.I.P. for the fabled nameplate as it heads into oblivion, proving that the buzzards who've circled for years knew dead meat when they saw it.General Motors Corp., in a sweeping

By David C. Smith • Feb. 1, 2001

MEGADEALERS PLAN TO BOOST F&I SALES

It's a cushion against forecasted auto industry downturn inance & insurance and fixed operations are drawing greater interest from publicly owned consolidators. Some see it as a cushion for predicted lower vehicle sales this year.Senior executives of Sonic Automotive, Group 1 Automotive and Lithia Motors highlighted F&I and fixed operations growth in their third-quarter financial reports - and set

By Maynard M. Gordon • Jan. 1, 2001

GOOD DEFENSE MAKES A GOOD OFFENSE

The deadlines of a monthly publication sometimes prevent totally up-to-date information, but as of this writing, several items are having an impact on our business.The first is the lengthy resolution of the presidential election. Other items of note include newspaper and other media stories noting the weakness of job growth and "Big 3" sales hitting the skids. Let's not forget domestic manufacturers

By Tony Noland • Jan. 1, 2001

Working 9-5

For Saab, it's a good way to make a living Saab Cars, USA Inc. should reach the 40,000 sales mark by the end of the year, says its president and CEO, Dan Chasins. This number represents a 4%-5% growth over 1999.Mr. Chasins gives credit for the growth to the newly developed 9-5 platform. The 9-5's vehicles - the convertible, the wagon and the sedans - account for a little less than 50% of Saab's sales

By Cliff Banks • Jan. 1, 2001

Success in America Key to Global Sales Strategy Daewoo sees U.S. as worldshowcase for its cars

SEOUL, Korea - Chairman Tae-Gou Kim got a divorce from General Motors five years ago and has worked tirelessly since then to establish his free-standing Daewoo Motor Co. Ltd. as one of the world's Top 10 automakers.It may seem like quite a stretch to some, yet since 1992, Mr. Kim has led Daewoo Motor through an amazing metamorphosis and is getting very close to achieving his goal.Today, Mr. Kim says,

By Vince Courtenay • Jan. 1, 2001

2000 is record year for Mitsubishi

American unit thrives despite problems in Japan Despite troubles at its parent company and a potential scandal at home, Mitsubishi Motor Sales of America managed to have yet another record-breaking year, reporting its best 10 months in the company's 18-year history this past October."In the U.S., last year we had a 37% sales increase," reports Executive Vice President and Chief Operating Officer Pierre

By Christie Schweinsberg • Jan. 1, 2001

Don’t fear the reaper - yet

Uh, oh. Look out, steel's getting complacent again. After battling back against plastic body panels in the 1980s, it's starting to lose ground to sheet molding composite (SMC) and aluminum. Just look at the evidence:The SMC Automotive Alliance (SMCAA) brags that its material is the fastest growing plastic replacing steel for automotive components and projects a 20% jump in SMC use by automakers in

By Drew Winter • Dec. 21, 2000

ITT gives web green flag

AUBURN HILLS, MI -- ITT Automotive has found a home on the Internet's World Wide Web, using the address http://www.ITTAUTOMOTIVE.com, which is linked to ITT Industries, corporate home page. Its debut was in time for the ITT Automotive Detroit Grand Prix, allowing race fans and Internet surfers to make a pit stop to access current Grand Prix information and download photos from the previous day's events.

Dec. 21, 2000

Going car crazy: Thailand is fast becoming the Detroit of Southeast Asia.

BANGKOK -- If the crowds mobbing the 17th Annual International Bangkok Motor Show in April were any example, the Thais are going noisily car crazy.And that's just for openers.Vehicle sales here have almost tripled since 1989, reaching 571,580 units last year, more than 9 out of 10 of them assembled in the country. Today, Thailand is not only the world's second biggest market for pickup trucks (after

By Mack Chrysler • Dec. 21, 2000

Latest fad: when in doubt, consult: hiring consultants often defies business sense

I've been in the automotive business a long time, and I've seen many fads come and go. I've also seen companies embrace certain fads, then later discard them as worthless, only to embrace them again years later as new management concepts. There are no new fads, only recycled ones. Consequently, I'm amazed not only by how they get started, but also how quickly they make their way from company to company.This

By Sharf, Stephan • Dec. 21, 2000

Five alive!

The outgoing 5 series, launched in 1989, itself was no slouch, a benchmark luxury-performance sedan continually improved such that seven years into its lifespan it still was judged an industry standard. The '97 is larger (wheelbase, at 111.4 ins. [283 cm] is 2.7 ins. longer), stronger and more equipment-laden -- yet lighter overall.Innovative material usage is one of the big stories here. The one-piece

Dec. 21, 2000

Competition not dead yet; new joint ventures just cut costs, waste.

The Death of Competition is the name of one of today's most popular business management books. To a casual observer of the plastics industry, it's easy to accept the book's premise at face value.In the past year some of the biggest rivals in the chemical and plastics businesses have decided to link up to make either plastic resin or parts. These aren't big fish swallowing little fish, or little companies

By Drew Winter • Dec. 21, 2000

China: watchword is patience

BEIJING -- Now that trade negotiators have defused another time bomb between Washington and Beijing, the flood of American automotive investment in China will resume. Still, patience is the watchword as China's torrid economic growth of the early 1990s starts to slow.The June Auto China '96 automotive exhibition here became Asia's second largest auto show after Tokyo. Chinese consumers, who still

By Gardner, Greg • Dec. 21, 2000

Not Crazy Like A Fox

No election year collapse predicted for Mexico This time it's the U.S. and not Mexico that's stumbling through an election year.While a history-making voting fiasco delayed the naming of a U.S. president-elect, Mexicans were cruising to the scheduled Dec. 1 inauguration of Vincente Fox with little or no signs of the economic collapse that has accompanied the previous four presidential elections.Determined

By Brian Corbett • Dec. 1, 2000

FUN, FUN & PROFITS, PROFITS, PROFITS

Growing sport compact performance segment gets Big Three attention - finallyLAS VEGAS - California dealers have known for years about the sport compact performance market. Young drivers there enthusiastically accessorize and upfit and add power to street race, make statements and look cool. And have done so for years. Most of this activity has been with import vehicles. Now the Big Three want in on

By Tim Keenan • Dec. 1, 2000

SONIC SETS MEGADEALERS’ PACE BY BUYING FIVE DEALERSHIPS IN TEXAS

Publicly owned consolidators continue to acquire dealerships and franchises in so-called sunbelt markets, although at a much slower rate than in the last two years.Second-ranked megadealer Sonic Automotive sets the pace for the segment, purchasing five Texas dealerships with 1999 revenues totaling about $458 million. This raises Sonic's dealer count to 123, with 14 in Texas.With a revenue "run rate"

By WARD'S DEALER BUSINESS STAFF • Dec. 1, 2000

Visteon Unveils Agreement, Shows off New Multimedia Products

Emphasizing that it is intent on expanding further into the fast-growing telematics and in-car entertainment areas, Visteon Corp. announced Monday at Convergence 2000 a new agreement that it says will enable it to bring Bluetooth wireless technology into the vehicle - plus a new line of OEM and aftermarket multimedia products.Bluetooth is a wireless communication technology that is becoming an industry

By Drew Winter • Nov. 1, 2000

SATURN LOOKS TO MAKE A COMEBACK

Saturn, the only GM domestic division that's unprofitable, should be in the black around 2003 and potentially could post annual sales of 500,000 vehicles by 2005, says Saturn President Cynthia Trudell.She says it all depends on future products that are under consideration. Those products include what are best described as a minivan and a pickup truck.They would join Saturn's original S-Series, the

By WARD'S DEALER BUSINESS STAFF • Nov. 1, 2000

Import dealer association

"Increasingly necessary" Free trade advocate AIADA has different agenda than NADA's MARLTON, NJ - Now and then someone suggests merging the National Auto Dealers Association and the American International Automobile Dealers Association.The rationale is that in this global economy, one association could adequately represent the interests of both domestic and import dealers. Besides, lots of dealers

By Maynard M. Gordon • Nov. 1, 2000

A GOOD WAY TO BOOST YOUR AFTERMARKET SALES

Suppliers and dealers alike finding gold on the World Wide Web A year ago, vehicle manufacturers were explaining to their dealers just how important it is to get in on the $7 billion accessories market. There's no question that tapping into that segment of the auto industry, of which dealers hold a mere 10.5%, would improve the bottom line of any dealership or dealer group.Dealers like Stan Kujawa

By Tim Keenan • Nov. 1, 2000

JM Family Enterprises realigns its top management

A top-level realignment at JM Family Enterprises has elevated octogenarian founder Jim Moran and his daughter, Pat Moran, to the positions of honorary chairman and board chairman, respectively, and awarded the presidency to the company's longtime general counsel, Colin W. Brown.The Deerfield Beach, FL-based JM Family Enterprises made the first change in its chairmanship 32 years after the one-time

By WARD'S DEALER BUSINESS STAFF • Nov. 1, 2000