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Fed Cuts Interest Rates Again, Stock Market Responds

Fed Cuts Interest Rates Again, Stock Market Responds

Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.

September 19, 2019

World’s First Carbon-Neutral Dealership Changes Hands

World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

September 18, 2019

NADA Mounts Opposition to Enhanced Safeguards Rule

NADA Mounts Opposition to Enhanced Safeguards Rule

National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.

September 9, 2019

SAAR Fails to Crack 17M Despite Record August Sales

SAAR Fails to Crack 17M Despite Record August Sales

U.S. sales of new cars and light trucks fell 1.2% year-over-year in August, a sales month that extended through the Labor Day weekend and set new records for Honda, Toyota, and Subaru.

September 5, 2019

Fiat Deletes 500 From North American Lineup

Fiat Deletes 500 From North American Lineup

2019 marks the last model-year for the Fiat 500, 500e, and 500 Abarth in the U.S. and Canada, ending a 10-year production run and leaving the 500X CUV, 500L, and 124 Spider as the Italian brand’s only North American models.

September 4, 2019

A Life of Crime at the Heights of Success

A Life of Crime at the Heights of Success

The long list of offenses committed by dealers and other highly successful people proves desperation is not the only cause of criminal behavior.

September 2, 2019

Mazda Turns to Toyota for Captive Financing

Mazda Turns to Toyota for Captive Financing

Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.

August 29, 2019

Volvo Adds Dealer Inventory to Subscription Program

Volvo Adds Dealer Inventory to Subscription Program

Volvo dealers will soon be allowed to pull new vehicles off their lots and into the Care by Volvo sub service, a significant change that leads a list of reported revisions to the embattled program.

August 28, 2019

Mazda Dealer Faces Termination Over Warranty Work

Mazda Dealer Faces Termination Over Warranty Work

Mazda has attempted to cancel its franchise agreement with a Texas dealer for failing to complete Takata airbag recall orders. The matter will be decided in a hearing ordered by state regulators.

August 26, 2019

S.C. Dealer Sues Former GM, F&I Manager

S.C. Dealer Sues Former GM, F&I Manager

Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.

August 21, 2019

Days’ Supply Hits 71 on Weaker Sales

Days’ Supply Hits 71 on Weaker Sales

The latest report from the Automotive News Data Center finds U.S. franchised dealers were sitting on nearly 3.8 million new units as of Aug. 1, a 27-year high.

August 13, 2019

Va. Parts Manager Faces 20 Years for Embezzlement

Va. Parts Manager Faces 20 Years for Embezzlement

A former dealership employee was accused of systematically scrapping nearly $250,000 worth of catalytic converters and selling them to a recycling center for pennies on the dollar.

August 13, 2019

Nissan Takes Step Back in Full-Size Truck Market

Nissan Takes Step Back in Full-Size Truck Market

Nissan will end production of the diesel V-8 variant of the Titan XD in December after failing to capture more than a fraction of U.S. full-size pickup sales in the first half of 2019.

August 12, 2019

DOJ Settles Nissan Captive Case for $3M

DOJ Settles Nissan Captive Case for $3M

The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.

August 7, 2019

Fla. Chevrolet Dealership Agrees to Million-Dollar Settlement