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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 magazine caught up with Dealertrack’s Raj Sundaram to discuss sales forecasts, the specter of the subprime auto finance bubble, digital retailing and the Dealers’ Choice Awards.
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Used-vehicle depreciation slowed modestly in June compared to May’s more rapid pace, the firm reported this week, with prices for vehicles up to eight years in age falling 2.5% on a monthly basis in June.
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Ricky Beggs, who previously served as Black Book's senior vice president, was honored as the newest member of the National Independent Automobile Dealers Association's prestigious Ring of Honor.
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Look for these essential skills and abilities when choosing the person who will helm your business development center.
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Time-honored strategies can still have a profound impact in the Digital Age.
Read More →The ruling, issued Friday, could require changes in dealers’ telephone and text marketing practices. Among the changes that could affect dealers is the TCPA’s interpretation of the term “automatic telephone dialing system.”
Read More →New York Attorney General Eric T. Schneiderman announced two separate actions this week against a 22-store dealer group and a Hyundai dealership, both related to deceptive advertising practices.
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Just two weeks after American Banker reported that the CFPB was planning to cite three captive auto finance companies for policies that allegedly caused minority car buyers to pay higher rates for auto loans, the bureau and the Department of Justice have announced a settlement with Honda Finance Corp.
Read More →The National Automobile Dealers Association filed a Freedom of Information Act request Monday, seeking to make a Consumer Financial Protection Bureau memo about limiting dealer discretion public.
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Starting July 19, Ally will offer customers direct access to their FICO Scores and APR within their online accounts. The finance source has also launched a secure email feature on its site to help customers send and receive account information and documentation.
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