Average dealership pretax profit down nearly 20% through Q3
The Presidio Group debuted a new quarterly report that includes dealership financial data gleaned from a partnership with NCM Associates......»»
GM"s BrightDrop electric vans to become Chevrolet models
GM's BrightDrop electric vans will become Chevrolet models, the idea being to leverage Chevy's larger dealership network......»»
Dealership catches onto scammer, but plays along until cops arrest him
A video showing a customer taking delivery of two Kia Tellurides, then being arrested for allegedly using a fake driver's license, went viral on TikTok......»»
Behind the scenes: A dealership transaction in New Jersey
Automotive News gets glimpses of a dealership closing in Little Silver, N.J......»»
F&I revenue still possible as leasing returns
As leasing grows across the country, car dealership finance managers might have a harder time hitting the kind of F&I gross profit per vehicle seen during the inventory shortage. But there's still an opportunity for the finance and insurance office,.....»»
McGovern Automotive"s deal to buy Mercedes store isn"t just business — it"s personal
Sellers Allan Sockol and Scott Coleman's values align with rapidly growing McGovern, and they will remain involved in the dealership as partners......»»
Public dealerships" F&I gross profits fall in Q2 but most above $2,000 a vehicle
AutoNation, Lithia, Group 1, Sonic and Asbury all had same-store finance and insurance gross profit per vehicle above $2,000 in the second quarter......»»
Lithia"s captive finance company Driveway Finance turned a Q2 profit
Lithia Motors Q2 2024 earnings: After just a few years of operation, Lithia's relaunched captive finance car loan company Driveway Finance Corp. turned a profit during the second quarter and was on track to stay that way......»»
Judge upholds $350,000 award against Michigan dealership for wrongful repossession
A federal judge upheld a $350,000 punitive damages award against a Michigan dealership in a spot delivery and wrongful repossession case......»»
Readers prefer to click on a clear, simple headline—like this one
In an era when people trust news less than ever, how can journalists break through and attract the attention of average people to provide information about their communities, the nation and the world?.....»»
2025 ID Buzz EV, priced from $61,545, will become VW"s most expensive model in U.S.
The ID Buzz hits U.S. showrooms as EV sales slow and incentives rise, and it is priced significantly higher than the average transaction price for minivans as well as the industry's overall new vehicle......»»
Stellantis CEO Carlos Tavares to visit U.S. to create plan to reverse lagging profit, report says
Tavares' visit to Detroit during his summer break will seek to reassure employees and investors that he intends to fix the automaker's struggling North American operations......»»
Average DDoS attack costs $6,000 per minute
2023 saw a surge in the frequency and duration of DDoS attacks, and in the first half of 2024, it’s clear that surge has become the new normal, according to Zayo. DDoS attack duration increases DDoS attacks surged 106% from H2 2023 to H1 2024. The.....»»
Service tip: Use each customer"s data during phone calls to ensure meaningful engagement
Service-to-sales phone calls are a crucial touchpoint in any dealership's customer engagement strategy, says Kurt Philippsen, dealer relations manager at automotiveMastermind......»»
2 FTC commissioners call dealership discrimination claim by agency an overreach
The Coulter Motor Co. case saw further debate among the Federal Trade Commission over the validity of the agency bringing discrimination claims using the FTC Act's unfair practices language......»»
Mazda incentives soar, putting pressure on profits, upmarket move
Spiraling incentives nearly wiped out Mazda's operating profit in the latest quarter, as the company spent more to sell more. Volume and market share are growing. But it comes at a big price, with U.S. spiffs nearly double their level a year ago......»»
CDK Global to pay $100 million to settle dealership antitrust suit
The proposed settlement, which requires a judge's approval, avoids a planned September trial. It does not affect other pending litigation against CDK......»»
Mining the microbiome: Uncovering new antibiotics inside the human gut
The average human gut contains roughly 100 trillion microbes, many of which are constantly competing for limited resources. "It's such a harsh environment," says César de la Fuente, Presidential Assistant Professor in Bioengineering and in Chemical.....»»
U.S. has its first national strategy to reduce plastic pollution—three strong points and a key issue to watch
Plastic waste is piling up at a daunting pace around the world. The World Bank estimates that every person on the planet generates an average of 1.6 pounds (0.74 kilograms) of plastic waste daily......»»
Average dealership pretax profit slipped 33% in the first half of 2024, report says
The report from Presidio Group and NCM Associates also found the typical dealership hasn't reduced expenses quickly enough amid profitability declines......»»
New analytical tools identify distinct components of dissolved organic matter within the ocean water column
Large quantities of carbon are stored across the environment as naturally-occurring dissolved organic matter. In the ocean, this organic carbon has an average age of thousands of years, but seasonal fluctuations in dissolved organic matter concentrat.....»»