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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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Chai previously served as president of CIT Group Inc. He replaces Thomas W. Warsop III, who has served as The Warranty Group's president and CEO since August 2012.
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Wholesale used vehicle prices on a mix-, mileage-, and seasonally adjusted basis declined 1% in November, according to Manheim’s Used Vehicle Value Index report. Due to this decline, the Manheim Used Vehicle Value Index fell 0.3% from a year ago to 124.7.
Read More →The owners of Florida's Bonita Springs Mitsubishi have acquired Fort Myers Mitsubishi, the company announced today. With this purchase, owners Jeff Johnson and Bill Doraty hope to replicate the success of their Bonita Springs store, which cracked the Top 25 sales list for Mitsubishi dealerships nationwide.
Read More →The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.
Read More →The industry sold 1.38 million new units in November, a 3.7% increase from a year ago, according to Autodata Corp. November's seasonally adjusted annual rate was 17.87 million, which was slightly lower than last November’s SAAR of 18.25 million.
Read More →In a study used by major brands to measure dealer services client satisfaction, EFG Companies scored higher than Nordstrom and Ritz Carlton, the F&I product provider shared today.
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Automotive enthusiast magazine Car and Driver today unveiled its first ever “10Best Trucks and SUVs” list, recognizing 2017’s best trucks, SUVs, and crossover vehicles with base prices under $80,000.
Read More →Dealerships using the DealerStar DMS can now join the Carfax program and take advantage of free resources like Carfax Service History and Carfax QuickVIN.
Read More →International nameplate franchises accounted for 55.7% of all new vehicles sold in the United States in November, besting domestic nameplates and their 44.3% share of the market. Asian makes recorded a share of 45.7%.
Read More →Through this integration, customers at independent dealers will be able to look through different car insurance options, secure a quote they like and purchase the coverage on the spot, the company stated.
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