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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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On Monday, IAS announced the appointment of Patrick Brown as president and CEO. He succeeds Bob Corbin, who was appointed executive chairman. Officials said the moves signal the company's plans to expand.
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Portfolio announced the launch of Portfolio Edge, a program designed to extend coverage of the manufacturer’s parts and labor warranties on repairs performed in dealership service drives. It also reinsures the extended coverage contracts to the dealer's affiliated reinsurance company.
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CalAmp unveiled a new telematics system that doubles as an inventory management tool for dealers and a connected car service for consumers when linked to the company's new mobile application.
Read More →Only two car segments ranked in the Top 12 for strongest monthly retention, the firm reported this week. It added that depreciation for all car segments topped rates recorded during the last three years for the month of August.
Read More →The National Automobile Dealers Association (NADA) has hired Abram Olmstead as its digital media director. He will oversee the NADA's communications efforts across all digital platforms.
Read More →E-Credit Express announced today it will integrate NADA Used Car Guide values into its lender management platform to speed up the used-vehicle sale and loan approval process for dealers and finance sources.
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instaVIN has named Edie Hirtenstein director of business development. The 14-year automotive industry veteran will be responsible for managing customer relationships, and identifying and implementing products and services that further expand the business, according to the company.
Read More →For the second time this year, the seasonally adjusted annual rate (SAAR) for new vehicles fell below 17 million in August. Manheim, however, said the drop 'may be a good thing."
Read More →TimeHighway.com, Peak Performance, Dealer Product Services and OneCommand have merged. Together, the companies will be called Affinitiv, the firms announced this week.
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J.D. Power’s sale to XIO Group in London for $1.1 billion was completed this week, the global alternative investments firm announced on Wednesday. J.D. Power will remain headquartered in Costa Mesa, Calif., and will continue to be led by its existing management team.
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