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Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.
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Lithia Motors’ first-quarter results include continued gains in F&I penetrations and revenue, a result the dealer group credits to its aggressive acquisition strategy.
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An investigation by the state regulator found hundreds of vehicles were sold with serious safety recall issues, including unintended acceleration, airbag problems, vehicle fires, steering and break lost, among other issues.
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According to the trade group’s NADA Data 2016 report, dealership employees had one of the highest average salaries of any industry.
Read More →The California new-vehicle market leveled off in 2016, with new light vehicle registrations increasing by less than 2% during the final three quarters of last year, according to the California New Cars Dealers Association (CNCDA).
Read More →Given last February's sharp dip in pricing, the Manheim Index shows a year-over-year gain of 1.1%, putting it at 124.6 for the month of February. The firm also noted that the crazy tax refund season that was expected to negatively impact dealers never materialized.
Read More →Wholesale used-vehicle prices in January averaged $10,945, a 6.7% increase from a year ago and a 2.8% rise from the prior month, according to ADESA Analytical Services.
Read More →Aside from the tips, the firm announced the release of a free ebook titled, ‘Six Steps for Dealers to Get Their Cars to the Digital Front Line.’
Read More →The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.
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The expected regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future, EFG Companies said today. Four of the firm's executives offered their predictions for 2017.
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