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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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With new-vehicle loan amounts and monthly payments rising to record highs during the fourth quarter, leasing’s share of the market grew to record levels. Data from Experian Automotive also showed that more consumers turned to the used-vehicle market in the end-of-year period.
Read More →GarGurus has named Sara Welch senior vice president of consumer marketing. The 10-year marketing veteran previous held executive marketing roles at Gazelle and TripAdvisor.
Read More →Introduced last month, Senate Bill 3 would permit electric vehicle makers to sell vehicles directly to consumers at up to three locations. The state dealers association, General Motors and the Alliance of Auto Manufacturers have taken a stand against the measure.
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Prominent consumer finance attorney Thomas B. Hudson will be at Dealer Summit this May to discuss how regulators have changed the business model for special finance and buy-here, pay-here operations.
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John Palmer, CEO of ProMax Unlimited, will present “Secrets to Getting More Lender Approvals” at Dealer Summit, organizers announced on Wednesday.
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Organizers of Dealer Summit have announced that NCM Associates’ Dustin Kerr will present a session dedicated to buy-here, pay-here (BHPH) operations at the event, which will take place May 3-5, 2016, at the Sheraton Tampa Riverwalk Hotel.
Read More →Thanks to a rocky start in global financial markets and uncertainty regarding future interest rate hikes, Americans believe there is a 36% chance the U.S. economy will slip into a recession this year, a new survey shows.
Read More →Eighty-nine percent of dealers surveyed agreed that having a comprehensive process for handling inbound calls was important; however, only 40% were confident they were managing incoming calls effectively, according to a survey conducted by CallSource
Read More →The average transaction price for a new car rose 2.2% to $33,781 in February, Kelley Blue Book reported today. The vehicle information site also noted that incentive spending is nearing pre-recession levels, as vehicle OEMs look to offset rising prices.
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