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May 24, 2016 - Industry News

AP Poll: Two-Thirds of Americans Can’t Afford $1,000 Emergency

Conducted by The Associated Press-NORC Center of Public Affairs, the poll found that 75% of households making less than $50,000 a year would have difficulty coming up with $1,000 to cover an unexpected bill.

Tags: Consumer Buying Habits, consumer confidence, consumer debt, Great Recession, parts and service, Repairs, Service Contracts

May 19, 2016 - Industry News

Labor Department Publishes New Overtime Pay Rule

The finalized rule updating overtime regulations will automatically extend overtime pay protections to more than four millions workers within the first year of implementation. The NADA said it is developing outreach materials on the rule’s impact on dealerships and is evaluating potential participation in potential litigation and Congressional oversight.

Tags: employment, Fair Labor Standards Act, U.S. Department of Labor

May 19, 2016 - Industry News

Calif. New Light Vehicle Registrations Exceed 500,000 Units in Q1 2016

The 500,000 units sold in the first three months of the year has California dealers on track to sell more than million units in 2016, according to the California New Car Dealers Association.

Tags: California New Car Dealers Association, CNCDA, New Vehicles, Registrations, used vehicles

May 18, 2016 - Industry News

New Dry-Erase Hang Tags Offer Potential Cost Savings

The hard plastic, dry-erase tags give dealers the ability to reuse them instead of throwing them away, as is the case with traditional paper tags. These tags also eliminate the possibility of misprints due to their dry-erase nature.

Tags: Dealership, Hang Tags, Products

May 17, 2016 - Industry News

Consumers Prefer Brands With 'Social Good Campaigns,' KBB Says

Consumers not only prefer to buy from brands with social good campaigns, they expect auto manufactures to carry them out. According to a KBB survey, 64% of respondents expect automakers to carry out social good campaigns. An even larger percentage, 70%, would like to see more automakers promote social good campaigns.

Tags: Campaign, dealers, Ford, Honda, KBB, Millennials, Subaru

May 12, 2016 - Industry News

GM Replacing 88% of Lineup By 2020

General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.

Tags: Bank of America, Chevrolet, Fiat Chrysler, Ford, General Motors, Hyundai, Kia, Merrill Lynch, Nissan, Toyota, Volkswagen

May 12, 2016 - Industry News

Nissan to Take 34% Controlling Stake in Mitsubishi

Nissan Motor Co. will acquire 34% of Mitsubishi Motors Corp. for 237 billion yen ($2.17 billion) in a deal that makes Nissan the leading investor in the struggling automaker.

Tags: Carlos Ghosn, Mitsubishi, Nissan

May 9, 2016 - Industry News

Georgia Dealer, State Employee Arrested for Odometer Fraud

The dealer and state employee were charged with devising a scheme to buy high-mileage vehicles in nearby states, roll back their odometers, and then resell them in Georgia. They now face up to 10 years in prison if convicted.

Tags: Department of Justice, Georgia, Odometer Fraud, Tampering

May 9, 2016 - Industry News

Dent Zone Forms New Product Division

Dent Zone’s AutoBodyguard will offer interior and exterior protection products, as well as tire-and-wheel protection, windshield, automobile deductible reimbursement and paintless dent repair. Serving as president is 40-year industry veteran John Martin.

Tags: AutoBodyguard, Dent Zone, Exterior Protection, interior protection, paintless dent removal, Tire and Wheel

April 27, 2016 - Industry News

Demand for Alternative Fuel Vehicles Dwindling

The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.

Tags: Alternative Fuel, Electric Vehicle, Hybrid, Report, Vehicle Sales

April 27, 2016 - Industry News

KBB: Low Fuel Prices Have Used-Vehicle Buyers Flocking to High-Performance Segments

Used-vehicle buyers are turning to sports cars in greater numbers thanks to low fuel prices, which are allowing them to forego fuel efficiency in favor of performance, KBB said this week.

Tags: Auction, Blue Book Market Report, First Quarter, KBB, Kelley Blue Book, Used Vehicle

April 21, 2016 - Industry News

CFPB to Discuss Arbitration at Field Hearing Next Month

The Consumer Financial Protection Bureau will be holding a field hearing on May 5 in Albuquerque, N.M., to discuss arbitration. CFPB Director Richard Cordray will issue remarks at the hearing

Tags: AFSA, Consumer Financial Protection Bureau, Field Hearing, Richard Cordray

April 21, 2016 - Industry News

BMW Distribution Center Opens in Texas

The BMW Group's newest vehicle distribution center at the Port of Galveston, Texas, officially opened Wednesday. The distribution center, according to the company, will better serve the 45 BMW and MINI dealers in the nation’s southern region: Texas, Oklahoma, Louisiana and Arkansas.

Tags: BMW, New Jersey, Vehicle Distribution

April 21, 2016 - Industry News

Nissan Fleet Initiative Expands Dealer-Based Ordering

Nissan is making it easier for commercial fleets to acquire vehicles outside of annual purchasing cycles with its Fleetail 2.0 program that will expedite orders of less than 50 vehicles to commercial fleets and fleet management companies.

Tags: Fleet Incentives, Nissan, Nissan Titan XD

April 20, 2016 - Industry News

Dimmitt Chevrolet Receives Chevrolet Dealership of the Year Award

Founded in 1924, Dimmitt Chevrolet was named the 2015 Chevrolet Dealer of the Year. Out of more than 3,000 Chevrolet dealerships, the dealership was one of 50 to qualify to receive the award.

Tags: Awards, Chevrolet, Dimmitt Chevrolet, Florida

April 20, 2016 - Industry News

Former Larry H. Miller Group CEO Acquires California Dealership

Greg Miller, who stepped down as CEO of the Larry H. Miller Group in March 2015, has acquired Bob Baker Toyota in San Diego, Calif. The dealership will be renamed Greg Miller Toyota and will be operated under his new enterprise, Greg Miller Automotive San Diego.

Tags: Acquisition, California, Dealership

April 19, 2016 - Industry News

FCA Taps Express Lane Dealers for Mopar Fleet Parts Program

Through its 1,000 U.S. dealerships offering the Mopar Express Lane service, Fiat Chrysler Automobiles is rolling out the Mopar fleet parts and service program — a one-stop maintenance solution designed to assist fleets with uptime, driver safety, and competitive pricing,

Tags: FCA, Fiat Chrysler, Mopar Express Lane Service

April 19, 2016 - Industry News

Quakes Shut Down Toyota, Hino Production

Toyota will shut down most of its production of Toyota, Lexus, and Hino vehicles over the coming week, after a pair of deadly earthquakes rocked Japan and caused parts shortages for the automaker.

Tags: Hino, Lexus, Production, Toyota

April 19, 2016 - Industry News

SouthWest Dealer Services Acquires Two Agencies

SouthWest Dealer Services' acquisition of Chicago-based United Insurance Group and Seattle-based Olympic Dealer Marketing will expand its national reach, increase its employee count to 360, and raise its active dealer customer base to 650 across 16 states.

Tags: Acquisition, Olympic Dealer Marketing, Southwest Dealer Services, United Insurance Group

April 19, 2016 - Industry News

J.D. Power Sold to Global Alternative Investments Firm

J.D. Power owner McGraw Hill Financial is expected to finalize the $1.1 billion sale to XIO Group during the third quarter of 2016.

Tags: J.D. Power, McGraw Hill Financial, Transaction, XIO Group

April 13, 2016 - Industry News

Penske Acquires Canadian Truck Dealer Group

Penske's Premier Truck Group subsidiary has completed its acquisition of Harper Truck Centres' five commercial truck dealerships in Toronto. The acquired stores are expected to generate approximately $130 million in annualized revenue for Penske Automotive.

Tags: Acquisition, Canada, Harper Truck Centres, Penske Automotive Group, Premier Truck Group

April 12, 2016 - Industry News

Compliance Summit to Hit Tampa, Las Vegas in 2016

Organizers of Compliance Summit, a series of regional events dedicated to front-end compliance for dealers and dealership management, announced that events will be held in Tampa and Las Vegas this year following stops in Chicago and Austin, Texas, in 2015.

Tags: CFPB, compliance, Compliance Summit, Dealer Summit, ECOA, F&I Think Tank, Federal Trade Commission, Regulation Z, Regulations, TILA

April 12, 2016 - Industry News

Holman to Acquire Kuni Automotive

The acquisition, which is expected to be finalized this summer, will create one of the largest privately owned dealer networks in the country. The bi-coastal network will operate 33 dealerships and bring in more than $3 billion in overall annual revenue.

Tags: Acquisition, Dealer Network, Holman Automotive Group, Kuni Automotive Group

April 12, 2016 - Industry News

Vehicle Depreciation Accelerates in Q1, Black Book Reports

The acceleration in vehicle depreciation during the first quarter points to the market reaching the peak of spring, Black Book said this week. While many segments saw noticeable spikes in depreciation, the firm noted, some segments experienced increases in value during the quarter.

Tags: Black Book, depreciation, used vehicles, Used-Vehicle Value

April 7, 2016 - Industry News

Used-Vehicle Pricing Continues to Ease

Wholesale prices fell for the third straight time in March, but Cox Automotive’s Tom Webb said the softening is no cause for alarm.

Tags: Manheim, Manheim Used Vehicle Report, Tom Webb, used-vehicle values