Your Daily Operations Magazine
Despite escalating new-car prices and plateauing sales, NADA analysts report little change to American dealers’ per-copy average, penetration rates, and F&I income as a percentage of gross profit in 2018.
U.S. franchised auto dealers paid over $66 billion to more than 1 million workers in 2018, a 1.9% year-over-year increase that pushed the average employee’s pay to $1,134 per week.
The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.
Michael Stanton Jr., former vice president and general manager of J.D. Power’s Vehicle Valuation Practice, formerly known as the NADA Used Car Guide, has returned to the NADA to work across the organization on strategic and operational issues.
General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
Robert P. Mallon, former president of the National Automobile Dealers Association and chairman emeritus of the National Automobile Dealers Charitable Foundation, died on August 3. He was 83.
OEM reps are people too. Heard lists three ways to build a healthy, fulfilling relationship with your factory.
Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
Jeff Carson likened his year as chairman of the NADA to piloting a plane during a ‘catastrophic electrical failure,” noting that he experienced situations where he started out on what seemed a routine path only to have outside events toss his flight plan out the window.