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Record-setting F&I, a strong used-vehicle segment, and gains in parts and service paved the way for a year-over-year improvement in total gross profit for Lithia Motors during the period.
Read More →Margin over volume was the message coming out of Group 1 Automotive during its third-quarter earnings call. The dealer group reported that a sharp decline in unit sales offset improved new-vehicle margins, as well as gains in F&I and parts and service.
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Volkswagen will begin buying back its 2.0L diesel models following approval Tuesday of a $14.7 billion settlement by a federal judge. The automaker expects to complete the process by the middle of November, a spokeswoman said.
Read More →Ford's decision to idle production of its F-150 pickup last week has followed several months of slowing demand in retail and fleet channels and may point to a larger trend in pickup sales.
Read More →Automotive retailing isn’t the only segment exploring the risks and opportunities of the Digital Age. On Monday, the CFPB issued its first-ever Project Catalyst report highlighting its efforts so far to facilitate consumer-friendly innovation.
Read More →Millennials are bucking the stereotype that women are damsels in distress and men are confident decisionmakers, according to new research from Edmunds.com.
Read More →Automotive consulting firm BW Dealership Advisors announced the hiring of Nick Brunotte as senior operations consultant. He will lead the company's new digital capabilities and help the firm's dealer clients attract and engage car buyers online.
Read More →The partnership involves the appointment of a credit facility for the acquisition and sale of vehicles. Reynolds and Reynolds' Robert Burnett, senior vice president of corporate development, and Trew Hiers, vice president of business development, were also added to The Appraisal Lane's board of directors.
Read More →A rising supply of used pickups coupled with aggressive pricing for new models is expected to cause a weakening in values in the wholesale market, according to new data from Black Book.
Read More →Forty-nine U.S. auto dealers have been nominated for the 2017 Time Dealer of the Year award, according to Ally Financial. For being nominated, Ally will contribute $1,000 to each dealer's charity of choice.
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