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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
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Amir Bakhtiari will spend 54 months in federal prison and faces deportation to Iran after pleading guilty to embezzling $6 million by paying phony advertising invoices and unearned bonuses.
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Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.
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The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
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Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.
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Apple TV, Roku, and other connected TV devices have become the entertainment hub for millions of households. So why are so many dealers still spending all their TV dollars on traditional ads?
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A group of U.S. Porsche dealers is piloting the German factory’s first-ever online sales and financing option, designed to limit the customer’s dealership experience to final signatures and delivery.
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Cox Automotive announced the promotion of Holly Capps to senior vice president of Manheim sales, where is she is expected to prioritize a stronger alignment among sales teams.
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TechCrunch reports Fair CFO Tyler Painter, brother of CEO Scott Painter, and 40% of the vehicle subscription service’s staff have been let go. The moves cast doubt on the disruptor’s viability in an increasingly inhospitable startup market.
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Wages continue to rise for workers at U.S. new car dealerships, who earned an average of $72,800 in 2018, according to a midyear NADA Data report.
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