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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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AFS Acceptance has officially been renamed Credito Real USA, two years after being acquired by Mexico’s Credito Real and on the eve of a planned market expansion.
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Bay Ridge Honda has agreed to pay $423,000 in restitution and penalties to settle charges of deceptive acts and practices that followed dozens of complaints from aggrieved customers, many of whom are non-English speakers.
Read More →National Automotive Experts earned a Platinum award for F&I Product Training in the 2018 Dealers’ Choice Awards.
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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.
Read More →Helion Automotive Technologies has been ranked No. 65 among managed service providers worldwide in the 2018 MSP 501.
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Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
Read More →The acquisition of the F&I audit services firm enables KPA to become a single source for automotive compliance. The transaction closed on May 31.
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The automaker will collaborate with Autotalks to develop the next generation Vehicle to Everything chipset for connected cars. The technology aims to improve vehicle and road safety, mobility and is viewed as vital for autonomous driving.
Read More →Universal Lenders now allows car buyers to extend the financing of service contracts and other F&I products up to 36 months.
Read More →Dealership professionals ranked StoneEagle No. 1 in the F&I Technology category in the 2018 Dealers’ Choice Awards.
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