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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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ADT Magazine
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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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Black Book’s Used Vehicle Retention Index slipped again in March but showed a 1.7% year-over-year gain heading into April, when analysts expect the spring selling season to begin in earnest.
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Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
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U.S. franchised auto dealers paid over $66 billion to more than 1 million workers in 2018, a 1.9% year-over-year increase that pushed the average employee’s pay to $1,134 per week.
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Fiat Chrysler has settled a lawsuit brought by seven dealers who leveled charges of antitrust violations and breach of contract in federal court, claiming the factory and competing dealerships conspired to falsify new-vehicle sales reports.
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The IRS’s new withholding guidelines have reduced the average American’s federal tax refund to $3,140. What kind of used car can your next customer buy with that money? Autotrader’s Chris O’Neill found 20.
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Shares of Tesla Inc. fell by 9% following an underwhelming first-quarter sales report, but executives say they have the demand and capital they need to meet their 2019 production goals.
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The National Highway Traffic Safety administration announced it will open twin probes into thousands of complaints of noncrash fires in Hyundai and Kia vehicles sold in the U.S.
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The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
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Dealer lighting provider LSI Industries has hired business development expert and startup veteran Steven Moeglin to lead its commercial sales team.
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An ‘insights-driven’ upgrade to vAuto’s Conquest platform was designed to drive new efficiencies in the dealer-to-dealer new-unit trading process.
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