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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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RouteOne moved the industry closer to the fully online transaction by executing the first remotely captured, electronic customer signature on an indirect finance contract. The executed contract was booked with Toyota Financial Services.
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Through a partnership with risk-management services provider Assurant, Fair's digital flexible ownership platform now allows consumers to add insurance coverage when they sign for a pre-owned vehicle through its mobile app.
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One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
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Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.
Read More →Spireon has added new monitoring and workflow features to its GoldStar GPS solution for large, multi-rooftop dealers and auto finance sources.
Read More →ActivEngage announced the addition of a 700Credit-powered financial qualification feature to its dealer-focused omnichannel communications solution.
Read More →Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
Read More →After a steady October, used-vehicle values fell slightly in November. Black Book officials said the decline was typical of the holiday season.
Read More →National Automotive Experts was honored with a Medical Mutual Pillar Award for Community Service, presented by Smart Business.
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With current CFO Chris Halmy set to retire on March 1, 2018, Ally Financial today announced that Jenn LaClair is joining the company as CFO designate, with the intent that she will be appointed to succeed Ally's retiring CFO.
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