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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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Cox Automotive analysts say U.S. dealers reported strong traffic and profits but have remained largely pessimistic in their view of the auto retail market in the second quarter.
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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.
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Radiant Ride’s new SMART cosmetic service agreement program was designed to drive service and sales retention while offering customers a high-value interior and exterior protection product.
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Black Book’s Used Vehicle Retention Index registered its first monthly gain of the year, ticking up to 114.4 in May. But analysts warn waning demand could follow a strong end to the spring selling season.
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Fiat Chrysler has backed out of a proposed merger with Renault, blaming ‘political conditions’ in France, whose government owns a 15% share of Renault. A week ago, the companies were poised to form the world’s third-largest automaker.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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Protective Asset Protection analysts say GAP claim payouts rose by 19.5% for new vehicles and an astounding 95% for used vehicles between 2014 and 2018.
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Renova Energy announced the installation of a SunPower Helix Dual Tilt solar system at Southern California’s Porsche of Palm Springs, a new LEED-certified dealership.
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Group 1 Automotive has launched AcceleRide, a fully online buying process that includes vehicle configuration, trade-in valuation, and financing options, at 79 U.S. dealerships.
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Manheim has launched its first 100% digital auction at its Tucson location, a move designed to provide a safe, comfortable, and technologically advanced setting for buyers and sellers.
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