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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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The more than 1,000 credit unions using CU Direct’s CUDL Lending Platform have generated one million loans year to date, surpassing Ally Bank in loans originated this year.
Read More →The department’s rule to extend mandatory overtime pay was set to take effect this Thursday. It is now on hold after a federal judge agreed last week with 21 states and more than 50 business groups that the rule was unlawful and granted their motion for a nationwide injunction.
Read More →For the car segment, wholesale values decreased by 0.56% last week, an improvement over the 0.62% decrease the segment realized the week before. On the truck front, wholesale values decreased by 0.31%, less than the prior week’s depreciation rate of 0.59%.
Read More →Although transaction times at dealerships are improving, there are still roadblocks in the process that are holding dealerships back from reliably achieving transactions times below the one- and two-hour mark, according to a survey fielded by eLend Solutions.
Read More →The CFPB really is following you, and every mistake you make in the showroom and in your advertising can lead to an enforcement action.
Read More →The good news, according to Edmunds.com, is the industry is on pace to top last year's record new-vehicle sales total. The bad news, the firm noted in a separate release, is car buyers are rolling over negative equity from their trade-ins in record numbers.
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Ratings, reviews, photos and videos created by customers — collectively known as “consumer-generated content” (CGC) — have become a “critical” component in dealership branding and vehicle sales, according to new research from Bazaarvoice.
Read More →The new solution, according to Pearl Technology, gives a dealer the ability to circumvent a retail transaction at a competitor’s lot by delivering real-time offers through the customer’s mobile device.
Read More →F&I product provider Mechanical Breakdown Protection Inc. (MBPI) is now plugged into the Provider Exchange Network as part of an integration pact the two companies announced this week.
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In his new role, Warren Miller will drive sales and processes, maintain current customer satisfaction and facilitate long-term relationships with automotive dealerships, CPAs and partners.
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