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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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Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.
Read More →Organizers of Dealer Summit have announced that Lt. Col. Bruce Bright, USMC (Ret.) will deliver a motivational keynote address at the event, which will be held May 3–5, 2016, at the Sheraton Tampa Riverwalk Hotel.
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Expert says salespeople play a critical role in what happens in the F&I office. She lists four ways they can successfully pave the road to back-end sales.
Read More →AutoNation’s F&I operations, or what the group refers to as Customer Financial Services, lived above $1,500 in F&I gross profit per vehicle retailed (PVR) in 2015, with the business unit’s full-year revenues rising by $100.5 million from 2014.
Read More →Honda led the pack with five models making the list, while Chevrolet had three.
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The automaker announced on Wednesday it plans to transition the youth-geared brand back into the Toyota brand, with several model-year 2017 vehicles expected to be rebadged as Toyota beginning in August.
Read More →The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also agreed to lower its dealer markup caps.
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Six of the industry’s top compliance experts will be at the Sheraton Tampa Riverwalk Hotel to lead a 20 Group-like session on compliance. Aside from fielding questions from attendees, the group will tackle some pervasive regulatory myths surrounding the F&I office.
Read More →Flick Fusion Video Marketing today announced the integration of its Timeline Marketing tool with the suite of website conversion tools developed by marketing software provider Automark Solutions.
Read More →Scan123’s electronic document management system is now integrated with Auto/Mate’s Automotive Productivity Management Suite DMS, allowing Scan123 users to store and access documents through Auto/Mate’s DMS.
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