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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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Sonic's F&I operations posted a record per-copy average of $1,370. But with new-vehicle retail volume down 2%, total same-store F&I gross profit remained flat with a year ago. Officials also talked expansion of the EchoPark platform and the expected roll out of an ecommerce site next year.
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Elizabeth McClung has started a social media campaign aimed at convincing Sterling McCall Toyota to give her a new Tundra to replace an older truck that was stolen from the dealership’s service center.
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Describing F&I as 'very fundamental' to its success, Asbury CEO Craig Monaghan said the group will continue to push for improvements in that area as long as 'margin pressure' continues to squeeze the showroom.
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The frequency of factory defects spiked in 2014 and has remained high ever since. Compliance expert explains how recalls are slowing the sales and service processes, creating a cottage industry among plaintiffs’ attorneys, and forcing dealers to become students of the Motor Vehicle Safety Act.
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Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.
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The American International Automobile Dealers Association reports slumping sales for imports, particularly among sedans and coupes.
Read More →For the first time in more than two years, Black Book’s Used Vehicle Retention Index registered a slight increase.
Read More →The multitouch attribution provider says the new tool will improve data-driven media purchases at the dealership level.
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Alberta Koch Automotive Group unveiled its new ecommerce platform with a relaunch of the Koch Ford Lincoln website.
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Morgan Stanley analyst Adam Jonas engaged AutoNation Chairman and CEO Mike Jackson in a frank discussion about whether new safety technology could hasten the obsolescence of used units.
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