A number of U.S. auto dealers and dealership sales and F&I personnel were the victims or alleged perpetrators in several major fraud cases this year.
Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.
A new DealerPolicy study finds 83% of customers would buy auto insurance as part of their car-buying process — but only 9% were given the opportunity.
The big box revolution has irrevocably altered the retail landscape. Carvana’s success has dealers wondering whether auto retail could be next.
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.
Dawn Walston worked her way up from service cashier to vice president and general manager of Titus-Will Toyota in Tacoma, Wash., forging a career path that shattered stereotypes and earned national and international recognition for herself and her family-owned dealer group.
Dealer and long-distance runner Brian Benstock reflects on his nearly 40 years in the auto retail business, the challenges and opportunities in the New York market, and his efforts to drive his stores — and the industry — forward.
Despite headwinds threatening dealership profitability, Kerrigan Advisors’ first-quarter report indicates 2019 is trending toward another 200-plus transaction year for the auto retail buy/sell market.
The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.
Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.
May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.
It’s not just the wave of off-lease vehicles expected to return to the market this year and next, it’s the type of vehicles returning that could stunt new sales. Rising interest rates, however, could turn the tide for the new-vehicle market.
Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.
Underperforming van and car segments led to a decline in J.D. Power's used vehicle price index in November, a reversal from the index's previous three months of consecutive growth.