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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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Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.
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New-car affordability continued to be a challenge for car buyers, with the average transaction price closing in on $35,000 in September.
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Credit unions and captives continued to take advantage of the pullback by banks in the second quarter. The message coming out of CU Direct (CUDL)’s Sept. 28 webcast is that credit unions need to act fast before banks reconfigure their strategies.
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PERQ’s latest Car Buyer Insights Report upends preconceived assumptions about customers, finding that the majority of website visitors are not in the ‘buy’ phase and phone calls are their least desired method of contact.
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Former Showroom Logic CSO Matt Weinberg joins Drive Motors as the ecommerce firm’s senior vice president of consumer experience.
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Cox Automotive divisions RMS Automotive and Manheim have built a new co-listing capability into RPM, the company’s Nissan/Infiniti digital sales platform. The feature was designed to give independent dealers the opportunity to source OEM vehicles before they cross the auction block.
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Thomas King has been promoted to the new position of senior vice president of data and analytics for J.D. Power following a ‘comprehensive national search’ for the ideal candidate.
Read More →With MUSA's auto-decisioning capabilities, dealers can expect callbacks within 30 seconds, according to officials. They say dealers don't have to be leasing experts to get one done with the company.
Read More →Dealers using both Auto/Mate’s DMS and Oplogic’s CRM can now benefit from the increased sales and operations intelligence shared in real time between the two systems.
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The new warranty doubles the automaker's current three-year, 36,000-mile warranty. Called the People First Warranty, the coverage can be transferred to subsequent owners for up to six years or 72,000 miles from the date it was first sold new.
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