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Affinitiv has released ‘Razor and Razor Blade Model,’ a new whitepaper designed to offer guidance to dealers concerned about sustaining profitability while sales and front-end margins decline.
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Jim Maxim Jr. and Imran Mussani have assumed new roles at RouteOne, completing a transition that began when the company acquired MaximTrak, the technology firm Maxim co-founded, in 2016.
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The former owners of Jacksonville, Fla.’s Riverside Chevrolet will pay more than $1 million in restitution and fines to settle charges of failing to pay trade-in liens, state sales tax, and employee withholding taxes.
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Mehdi and Saaed Moslem have been charged with tax and bank fraud after IRS and FBI investigators say they uncovered a scheme to hide — then inflate — income from their Upstate New York auto dealership.
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LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional minute between home and work.
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Scott Drehs has been named ADESA’s first-ever leader of major dealer accounts after serving as regional vice president of operations for AFC, another KAR Auction Services brand.
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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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Dealers and other automotive business owners once again generated more complaints than any other industry in Consumer Federation of America’s latest top 10 list.
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The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per copy and Lithia Motors’ segment-leading 11% improvement.
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