Carscoops
MAY 21, 2024
Ford dealerships across America have been asked to pause their EV investments as the company makes last-minute changes to its electric vehicle certification program. One concern raised was the heavy investment that the Blue Oval requires for dealerships to sell EVs, with some having to cough up $500,000 for training and equipment.
Automotive Addicts
JANUARY 22, 2024
Vroom is set to wind down its used vehicle dealership business and focus on other key assets within its portfolio. Vroom’s move comes as a response to challenges in securing additional capital for its operations, particularly in extending the vehicle floorplan facility beyond its current expiration date of March 31, 2024.
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Full Path
JULY 30, 2024
In today’s automotive landscape, consumers and dealerships are caught in a complex web of economic pressures. Explore 2024 automotive market and leasing trends, with strategies for dealerships to navigate economic pressures and boost profitability. This flexibility can make leasing more attractive to a broader range of consumers.
CarExpert
MAY 15, 2024
GAC] also understand the difficulties of trying to launch a brand with just one model, when it’s not really sufficient to sustain a dealership network.” This would see dealers sign up for a GAC franchise but not have to buy the stock, while customers would pay the same price whichever GAC dealership they go to. “I
Auto Remarketing
MARCH 27, 2024
While demand for dealerships remained strong in the fourth quarter of 2023, dealership profits and blue sky values fell significantly year-over-year, according to research from Haig Partners. Sharply rising inventories and floorplan expense are pushing down profits at most stores. million in 2023,” Haig said.
DealerTrack Insights
JUNE 9, 2022
As more and more state motor vehicle divisions adopt electronic registration and titling, dealerships find themselves overhauling their back-office processes to keep up. All of that equals less paper, less fumbling for pens, and a more streamlined process for the dealership and the car buyer.
AutoSuccessOnline
MARCH 12, 2024
Be aware of how much credit you have — especially if you have multiple floorplan lenders — and stay away from hard money lenders who drain a dealer’s cash flow daily. Stay informed about software options for managing your floorplan. The team is the backbone of the dealership; you can’t grow without the right staff.
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