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......»»
Mazda, Subaru, Chevy-Buick and Nissan dealerships sell in four states
Two of the largest privately held dealership groups in the country and two other auto retailers grew their footprints with second-quarter acquisitions......»»
Subaru, Kia, Honda, Chevy and Stellantis dealerships sell in acquisitions in four states
Two larger dealership groups expanded in second-quarter transactions on the East and West coasts, while two smaller auto retailers also added stores in first-quarter and second-quarter purchases......»»
Dealers need ‘seat at the table" on EV policy, says NADA"s Mike Stanton
At the Automotive News Congress in Washington, Mike Stanton said: "We've talked a lot about dealer and factory relations, but we can't get it done alone.".....»»
Delta Electronics maintains double-digit growth outlook for 2022 revenue
Power supply and energy solution provider Delta Electronics has reiterated that its 2022 outlook of double-digit revenue growth is achievable, barring any large-scale setbacks......»»
Ford will recall nearly 50,000 Mustang Mach-Es over potential power loss
The automaker, in a dealer memo, said the electric vehicle's high-voltage battery main contactors could overheat, leading to a malfunction that could cause the vehicle to either not start or immediately lose propulsion power while in motion......»»
LMP Automotive sues over held deposits in terminated acquisitions
LMP Automotive filed federal lawsuits in two states seeking the return of deposits it made to acquire stores in New York and Texas. LMP terminated each of the transactions after it was unable to obtain approvals from manufacturers......»»
Tyntek cuts sales outlook for 2022
LED chip and Si-based sensor chip maker Tyntek has said it is likely to head for a flat sales performance in 2022, as it reversed downward its previous forecast of an annual 15% growth......»»
Wholesale auction companies seeking to reinvent amid change
The wholesale used-vehicle auction landscape is transforming as the business grapples with a major digital shift, new competitors, defecting dealer customers, shrinking vehicle inventories and big moves by leading players......»»
Ford adjusts EV standards, ups training with dealer feedback
Executives have adjusted their thinking on some aspects, but the automaker is largely sticking with plans to have dealerships sell EVs at nonnegotiable prices and offer customers the ability to complete their purchase online......»»
Bob Carter, Toyota’s ‘passionate’ dealer champion, calls it a career
Bob Carter, head of sales for Toyota Motor North America since 2017, retires at the end of June. Dealers said he's been a tireless, passionate champion for their cause and for close dealer-factory relations throughout his career......»»
Apple releases macOS Big Sur 11.6.7 with bug fixes
Apple has released macOS Big Sur 11.6.7 to the public with a fix for email attachments.macOS Big Sur 11.6.7 now availableThe macOS Big Sur 11.6.7 release arrives during Apple's busy WWDC week with a small bug fix. Mail and apps like Outlook would run.....»»
Video: Charting sea level from space
Satellite images of our planet have become essential to our survival, offering a new outlook of our world. With rising seas being one of the biggest threats to society, satellite altimeter missions such as Copernicus Sentinel-6 are essential in monit.....»»
Microsoft Slashes Russia Operations After War Clouds Outlook
Microsoft is substantially reducing its business in Russia, joining the list of prominent technology firms cutting back or exiting the country altogether after the Russian invasion of Ukraine. From a report: "As a result of the changes to the economi.....»»
TrueCar acquires dealer sales platform Digital Motors, hopes to ‘accelerate" TrueCar+
Vehicle listings company TrueCar has acquired online dealer sales platform Digital Motors, hoping to bolster the launch of its new digital retailing service, TrueCar+......»»
Network device makers guardedly optimistic about 2H22
Network device manufacturers including Accton Technology, Sercomm and Arcadyan Technology saw their May revenues rebound with sequential increases, and are guardedly optimistic about their business outlook for the second half of this year, according.....»»
Taiwan-based IC testing firms maintain positive outlook for 2022
Taiwan-based IC testing firms expect to enjoy strong demand for high-end testing driven by network chips, high-performance computing (HPC) solutions, power management ICs (PMIC), automotive chips, and memory controller chips in 2022 despite a slowdow.....»»
GV60 EV rollout brought Genesis and a new dealer together
To determine distribution, sales and marketing of the GV60 electric crossover, Genesis Motor took the unusual route of partnering with an established dealer of electrified vehicles for guidance......»»
Future of auto dealer franchise law is up for debate
Some states, including West Virginia and North Carolina, have adopted new language in dealer franchise laws to address such changes in the industry as over-the-air updates and vehicle reservations......»»
Legacy Automotive raises $500 million to fuel dealers making acquisitions
Legacy Automotive Capital is aiming to deploy $500 million over the next 36 months by assisting dealers in acquiring property in buy-sell transactions or providing them capital via a dealership sale-leaseback......»»
IC Insights reiterates 2022 semiconductor outlook of 11% growth
Despite rampant inflation and other macro headwinds, IC Insights continues to anticipate an 11% increase in total semiconductor sales this year - the same growth rate that was forecast in January......»»