What Does the Dealership Do With My Traded-In Car?
You’ve finally picked out the new car you’ve wanted at the dealership. Now you’re signing the papers to trade in your current car for this newer vehicle you’ve been eyeing. Once you get that money for your trade-in and hand ov.....»»
Digital sales leads grow as more car shoppers begin the process online
Dealership sales leads declined because of high interest rates, pricey vehicles and excessive inventory. At the same time, viable digital leads and the ability to turn them into sold vehicles grew by double digits, a study from Shift Digital found......»»
GM, Stellantis, Alfa Romeo, Fiat and Subaru dealerships trade hands across 3 states in Q4
Two of the fourth-quarter transactions involved groups ranked on Automotive News top dealership groups list......»»
Some dealership M&A brokers predict record Q1 amid robust deal pace
Alan Haig, president of buy-sell firm Haig Partners, in Fort Lauderdale, Fla., told that his firm expects to close deals on 31 stores this quarter, and he has a bullish outlook for 2024......»»
Ford dealership in Houston gets boost from NIL deals with college athletes
Chastang Ford has been able to support star athletes at the University of Houston via name, image and likeness deals, helping to boost the dealership's reputation in the community......»»
NIL deals with college athletes boosts Houston dealership"s business
Chastang Ford has been able to support star athletes at the University of Houston via name, image and likeness deals, helping to boost the dealership's reputation in the community......»»
Asbury 4-store Tekion DMS pilot could precede companywide switch by 2026
A successful four-store pilot of Tekion later this year could lead to Asbury Automotive Group Inc. deploying the dealership management system companywide in 2025 and finishing the DMS switch in early 2026, Asbury CEO David Hultsaid this week......»»
Some dealership buy-sell brokers predict record Q1 amid robust deal pace
Alan Haig, president of buy-sell firm Haig Partners, in Fort Lauderdale, Fla., told that his firm expects to close deals on 31 stores this quarter, and he has a bullish outlook for 2024......»»
Hyundai sues Mass. dealership protesting new store nearby
An automaker is suing a Lynn, Mass., dealership that has challenged its decision to authorize a new point about 7 miles away and within its relevant market area......»»
CDK CEO shifts focus to growth
CDK CEO Brian MacDonald spoke about the dealership management system market and the company's approach to innovation during the NADA Show in Las Vegas......»»
Penske president Kurnick: "Affordability is a big concern of ours"
A lack of cars to sell is no longer a problem for Penske Automotive Group, but consumer affordability poses a challenge to the car dealership company and the industry, Penske President Robert Kurnick Jr. told the American Financial Services Associati.....»»
Kansas dealership could pay back customers $2 million if Chiefs win Super Bowl
More than 60 customers who bought a vehicle from Family Mitsubishi in Wichita will get their purchase refunded if the Chiefs win and meet certain conditions......»»
Dealers prep for what could be a ‘banner year" for buy-sells
Executives from three of the largest auto retailers in the country shared their outlooks on the dealership buy-sell market at AutoTeam America's Dealer/CEO/CFO Forum......»»
Former NADA chair Paul Walser urges young dealership leaders to ‘be patient"
Former National Automobile Dealers Association Chairman Paul Walser encourages 40 Under 40 winners and alumni to ‘be patient' when waiting for promotions......»»
Dealers say Biden"s EV strategy is too aggressive for U.S. market
Nearly 83 percent of dealers say the federal government is pushing the industry to move too fast on EVs, according to responses to the Automotive News 2024 Dealer Outlook Survey of 208 dealers and dealership managers......»»
Lithia closes $482M Pendragon deal after U.K. regulators give OK
Lithia closed on its nearly $500 million purchase of car dealership group Pendragon, a deal which largely completes Lithia’s expansion into the U.K. and also puts the U.S. group in the dealership management system business......»»
Three dealership groups, brothers acquire stores in Q4, Q1 deals
Two transactions involved dealers ranked on list of top dealership groups......»»
Brooklyn Mercedes-Benz dealership sues former technician, alleges warranty repair scheme
A Brooklyn, N.Y., dealership is suing a former technician, accusing him of fraud, computer fraud, breach of fiduciary duty and breach of contract stemming from an alleged scheme to misrepresent vehicles as eligible for warranty repairs......»»
Car thieves target dealer lots as retailers beef up security
The increase in technology that's readily available to criminals, providing them alternative ways to steal cars, is a driving factor behind the uptick in vehicle theft at dealership lots, experts say......»»
Lithia to buy 9-store Carousel group in Midwest from Pohlad Cos.
Lithia Motors will buy the nine-store Carousel Motor Group, a dealership group with stores in Minnesota and Wisconsin, from Minnesota Twins owner Pohlad Cos., the Pohlad conglomerate said in a statement Wednesday......»»
Dealership valuations dip from 2022, but remain high, experts say
Despite a decline in dealership valuations through the first three quarters of 2023 compared with 2022, valuations are still about two times higher than pre-COVID figures, buy-sell experts say......»»