Pay guarantees ate into Asbury's earnings — and that's OK by CEO
Posted on Sunday August 09, 2020
The company's decision to adjust pay plans for commission-based workers during the pandemic cost it an additional $8 million in the second quarter of 2020.
New GM Financial loans up despite retailer limitations
Posted on Sunday August 09, 2020
Big incentives from General Motors helped its captive lender increase originations by double digits in the second quarter, even as many dealerships had to temporarily close or limit operations because of the coronavirus pandemic.
Mercedes-Benz will trim cars as it adds EQ subbrand
Posted on Sunday August 09, 2020
It plans to clear its U.S. product portfolio of some coupes and convertibles as it looks to introduce its EQ subbrand of electric vehicles.
Suppliers to the 2020 Chevrolet Corvette
Posted on Sunday August 09, 2020
Suppliers to the 2020 Chevrolet Corvette include SPAL Automotive, Motherson, Infasco Nut, Brembo, Grand Traverse Plastics, MAP of Easton, Haartz Corp., Tenneco, Cooper Standard, Plastomer Corp., Shiloh Industries and Dana.
Audi yanks bad banana ad
Posted on Sunday August 09, 2020
The German luxury brand apologized for a social media ad that some critics called too provocative and others said showed a young girl in danger.
Auto loan appetite hard to predict in second half
Posted on Wednesday August 12, 2020
Auto analysts are split on whether sales in the third or fourth quarter will eclipse activity in the spring and early summer as the viral outbreak rages on in the U.S. On the new-vehicle side, a generous second round of government stimulus and stronger inventory levels could reignite consumer appetite for auto loans.
Auto lending lags in Q2, N.Y. Fed says
Posted on Wednesday August 12, 2020
Household debt across lending products fell for the first time in six years as the coronavirus pandemic leveled millions of American jobs and curbed consumer spending. Temporary relief efforts may be masking further economic damage, the Federal Reserve Bank of New York said last week.
CarGurus expands consumer finance platform with RouteOne integration
Posted on Wednesday August 12, 2020
The program, which is currently in a pilot stage, allows consumers to secure pre-qualification online for an auto loan on the CarGurus site that a finance-and-insurance manager can access in the store through RouteOne software.
Ohio dealer launches digital tool for pre-delivery paperwork
Posted on Wednesday August 12, 2020
The product, ZipDeal, allows customers to digitally navigate pre-delivery paperwork, educate themselves on accessories and F&I products, and post online reviews of the dealership. Executives say the software simplifies the sales process and allows customers to repurpose time typically wasted waiting outside the F&I office.
Pay guarantees ate into Asbury's earnings — and that's OK by CEO
Posted on Sunday August 09, 2020
The company's decision to adjust pay plans for commission-based workers during the pandemic cost it an additional $8 million in the second quarter of 2020.
Pay guarantees ate into Asbury's earnings — and that's OK by CEO
Posted on Sunday August 09, 2020
The company's decision to adjust pay plans for commission-based workers during the pandemic cost it an additional $8 million in the second quarter of 2020.
New GM Financial loans up despite retailer limitations
Posted on Sunday August 09, 2020
Big incentives from General Motors helped its captive lender increase originations by double digits in the second quarter, even as many dealerships had to temporarily close or limit operations because of the coronavirus pandemic.
Mercedes-Benz will trim cars as it adds EQ subbrand
Posted on Sunday August 09, 2020
It plans to clear its U.S. product portfolio of some coupes and convertibles as it looks to introduce its EQ subbrand of electric vehicles.
Suppliers to the 2020 Chevrolet Corvette
Posted on Sunday August 09, 2020
Suppliers to the 2020 Chevrolet Corvette include SPAL Automotive, Motherson, Infasco Nut, Brembo, Grand Traverse Plastics, MAP of Easton, Haartz Corp., Tenneco, Cooper Standard, Plastomer Corp., Shiloh Industries and Dana.
Audi yanks bad banana ad
Posted on Sunday August 09, 2020
The German luxury brand apologized for a social media ad that some critics called too provocative and others said showed a young girl in danger.
Intent to buy used stabilizes while new-car intent weakens, study finds
Posted on Wednesday August 05, 2020
Between June and July, new-vehicle purchase intent in the U.S. declined 4 percent while used-vehicle intent rose 2 percent, according to a survey by McKinsey & Co. on how consumers are responding to COVID-19.
Online used-car retailer Vroom targets IPO worth at least $281M
Posted on Tuesday June 02, 2020
The company, which has been reporting strong revenues but with net losses, has applied to be traded on the Nasdaq exchange under the VRM ticker symbol. The current share price target would raise between $281 million and $319 million.
5 used-vehicle trends in 2020
Posted on Sunday December 29, 2019
With rising prices of new vehicles pushing away more consumers, the used-vehicle market is hot. What will change next year?
Carvana Q2 net losses continue, but shares soar
Posted on Thursday August 08, 2019
The online used-car retailer continues to rack up losses as it expands into new markets but its share price rallied on a spike in revenue, profit per vehicle and improved second-half outlook.
Average age of vehicles on U.S. roads hits 11.8 years
Posted on Thursday June 27, 2019
The number of light vehicles in operation in the U.S., driven by quality gains and additional technology, hit a record 278 million, an increase of more than 5.9 million, or 2.2 percent, since 2018, IHS Markit said.
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