Dealer outlook cools on acquisitions
Nearly half of dealers plan to buy one or more dealerships in the next 12 months, while only 2 percent expect to sell in that time frame, according to a survey by Kerrigan Advisors......»»
Dealer Damon Lester: More diversity needed among owners
More work needs to be done to make the number of minority-owned dealerships representative of the U.S. car-buying market, says dealer Damon Lester......»»
Ford, GM options for EV dealers reshape retail
While Cadillac and Buick are making dealers walk away if they don't want to sell EVs, Ford has allowed for more flexibility but received complaints from some state dealer associations......»»
2023 dealer profits: Only way is down
Thomas King, president of data analytics for J.D. Power, says dealer profitability will inevitably come down in 2023 from 'stratospheric' 2022 levels as supply increases......»»
Ford boosts financial support to dealers for remote service offerings
The automaker is expanding its mobile service vans as well as pickup and delivery capabilities across its dealer network......»»
China"s Lunar New Year exodus cools major cities, study shows
During the week-long Chinese New Year, also known as the Lunar New Year, work is suspended, businesses close and nearly three billion people leave cities to join their families in rural areas for traditional gatherings. The holiday is the largest sho.....»»
Group 1 acquisitions propel robust Q4
Group 1 Automotive reported strong net income and revenue, driven in part by acquisition of smaller rivals......»»
Microsoft says services have recovered after widespread outage
Tens of thousands of users of Outlook and Teams were affected earlier on Wednesday......»»
Layoffs, funding delays reported at Solera Auto Finance
An Indiana dealer said compliance with state law meant he had to transmit a title to Solera for a financed vehicle despite still awaiting payment on it......»»
Microsoft cloud outage hits users around the world
Microsoft on Wednesday said it had recovered all of its cloud services after a networking outage took down its cloud platform Azure along with services such as Teams and Outlook used by millions around the globe......»»
Microsoft working to end Outlook and Teams outage around world
Tens of thousands of users around the world were affected earlier on Wednesday......»»
N.Y. dealer sues Stellantis for diverting inventory, giving rivals ‘secret discounts"
The lawsuit claims Stellantis is trying to starve the store of inventory in retaliation for a previous legal victory......»»
Hyundai-Genesis, Toyota, Stellantis and Ford dealerships sell in Q3, Q4 deals
Dealer Terry Taylor added a dealership to his portfolio, a former Lithia Motors general manager bought his first store and other dealers expanded their store holdings in third-quarter and fourth-quarter transactions in 2022......»»
Vehlo buys Rapid Recon and Velocity Automotive
The acquisitions by Vehlo now extends its dealership fixed ops customer experience suite beyond the customer-pay side of dealer service operations......»»
Incoming NADA chairman Geoffrey Pohanka"s agenda: Data-sharing, franchises
Geoffrey Pohanka, the driving force behind NADA's "Guiding Principles on Evolving Business and the Dealer Franchise System," steps into the role of the group's council chair for 2023......»»
Ford dealer’s security cameras thwart false claims
The security system has saved Gjovik Ford in Plano, Ill., $3,000 to $4,000 a month on scratch and dent repairs that customers used to accuse workers of causing......»»
VW sues in Illinois to block extra dealer warranty reimbursements
Volkswagen Group of America called a year-old provision of Illinois' franchise laws unconstitutional for making automakers pay consumer rates for dealer warranty work......»»
Realtek likely to provide mixed outlook for PC, network chips
Networking chip vendor Realtek Semiconductor will hold its quarterly earnings conference today, January 19, during which the company is expected to provide its business outlook for the first quarter of 2023......»»
Global instability increases cyber risk, says World Economic Forum
Geopolitical instability is exacerbating the risk of catastrophic cyberattacks, according to the Global Cybersecurity Outlook 2023 report from the World Economic Forum. The great threat Over 93% of cybersecurity experts and 86% of business leaders be.....»»
Foundry PSMC cautious about 1Q23 outlook
Pure-play foundry Powerchip Semiconductor Manufacturing (PSMC) has expressed caution about its sales prospects for the first quarter of 2023 when its overall fab utilization rate will come down to about 60%......»»
Networking solution provider Planet Technology optimistic about growth for 2023
Networking solution provider Planet saw record revenue growth in 2022 and has remained optimistic about its outlook toward 2023. In response to the strong wireless communication demand of smart IoT, PLANET also released a new router to take full adva.....»»