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history

How dealers can use vehicle history reports to make the...

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Vehicle history reports (VHR) serve as a window into a car’s past for any potential buyer and for dealerships. The reports can provide a wealth of information, including but not limited to accident, damage and theft histories, title information, and a vehicle’s market value. VIN information is tracked and stored across various national and state […]
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credit

Are credit constraints a precursor to another financial bubble?

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If a recent MSNBC story and reports of what is happening at Barclay Bank are any guide, a blind hairpin turn could be ahead. Is the lending industry able to make the turn? No one will disagree that it’s been a challenging time to sell cars. From a slowdown in 2019 to the pandemic that […]
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vehicle

Average list prices break through $40,000 ceiling as new vehicle...

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The strain of the coronavirus undoubtedly shook up the auto industry in 2020, but things have slowly been turning around since the middle of the year. Last Thursday, Cox Automotive released its report on new-vehicle inventory, which appears to have continued stabilization while also showing average listing prices of over $40,000. More specifically, vehicle inventory is at […]
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dealer

Busy third quarter for dealer acquisitions

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Things were looking rather bleak for the buy/sell market earlier in 2020 when factories, supply chains, and dealerships were shuttered, but the auto industry is bouncing back quite well, including in the realm of dealer acquisitions. Kerrigan Advisors, self-described as “the most experienced buy/sell firm in auto retail,” released its Q3 2020 Blue Sky Report […]
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EVs

New report calls on legislators to increase support for electric...

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A report released on Dec 15 by the Alliance for Automotive Innovation calls on the government to increase support for both the manufacturing and ownership cycle of electric vehicles. The report from the nation’s top auto lobbying group, simply titled Auto Innovation Agenda, encourages legislators to act swiftly to “remain a leader in the development […]
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Tesla

Tesla inches near annual sales goal on record-setting Q3

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On Friday, Tesla issued their Q3 report on production and sales for 2020. Overall, the EV automaker announced in a news release that they produced 145,036 vehicles across their four current model platforms and delivered 139,300 of those vehicles to customers. Those figures represent an astounding increase in quarterly sales and deliveries over second-quarter sales […]
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auto

Who to Advertise to in Post-Pandemic Auto Market

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Auto industry recovery has begun after the sudden spring shutdown due to COVID-19. Its pace, however, isn’t on par across all demographics. According to JD. Power’s weekly Auto Industry Impact Report on April 30th, the demographic over 55 is by far the slowest to get back into buying cars. The data in their report shows […]
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car shopping

Digital Auto Shopping Bucking Dealership Visit Trends: Cox Automotive Study

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Many people vehemently dislike car shopping. Spending time going from dealership to dealership, looking at different models to make a decision on what they want, and haggling with a (sometimes overly-eager) salesperson is not something most people would enjoy doing on their days off. Cox Automotive’s 2019 “Car Buyer Journey” publication supports this, finding that […]
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Fiat Chrysler

Fiat Chrysler Releases Q4 2018 and Annual Report

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Fiat Chrysler Automobiles (FCA) has released its Q4 and full-year report for 2018. In an earnings call on February 7th, FCA’s Chief Executive Officer, Mike Manley, announced that the company had “delivered another record-breaking year of earnings and generated significant industrial free cash flow, enabling us to end the year for the first time cash […]
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fixed operations

Service Department Now Makes Up 49% of Your dealership’s Gross...

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The automotive industry is always varying, especially as consumer behaviors and the status of the economy continue to shift. The retail market of vehicles is hurting at the moment, so dealerships are looking to adjust business procedures to support the changing market. Cox Automotive (“Cox”) has now released a comprehensive report that was compiled after […]
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