Automakers Create Coronavirus Car Payment Plans & Programs in Bid to Boost Flagging Sales

Auto Dealer Brokers - Pinnacle Mergers

Jack R. Nerad and Christian Wardlaw | Apr 24, 2020

This story was originally released on 3/16/2020, with the latest update coming on 4/24/2020. Continue to check back for the most up to date information. Read original article >

In a swift response to the economic uncertainty fueled by the coronavirus pandemic and widespread COVID-19 illness, automakers are scrambling to offer car payment programs to help those whose paychecks are threatened by the outbreak. Many carmakers are also creating special... Read more

How Can Franchise Dealers Compete With Industry Disruptors Like Tesla and Rivian? – Brian Benstock, Paragon Honda

Read original article here and view video - from CBTNews >

Jim Fitzpatrick: Hi everyone. Thanks very much for joining me on another edition of CBT News. Today we have a special guest with us, Mr. Brian Benstock. I know that you know this gentleman, he’s everywhere in the industry and he’s a frequent guest of ours here on CBT News. Thanks so much for joining us, Brian.

Brian Benstock: Jim, thanks for having me. Good to be here.

Jim Fitzpatrick: Sure. So I want to throw a... Read more

They’re actually reinventing the wheel to keep up with robocars

Car-makers are developing smart tyres & putting semi-conductors & sensors inside headlights, glass and seats to make them intelligent.

MA JIE, NAO SANO and MASATSUGU HORIE 15 July, 2019 8:48 am IST Read Original Article >

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Tokyo: The car industry is reinventing the wheel to prepare for autonomous vehicles.

Japan’s Sumitomo Rubber Industries Ltd., whose roots stretch back to when Henry Ford was building his Model T, is developing a “smart tyre” that can monitor its own air pressure and temperature, and... Read more

Clicks and mortar dealership model set to dominate motor retail in immediate future

By Chris Wright - 13th November 2019 for Motor Trade News.  See Original Article >

A “clicks and mortar” dealership model appears set to dominate used car retail in the immediate future, new research for Startline Motor Finance indicates.

The findings show that while consumers and dealers both believe that online activity will increase, the presence of a local car dealership remains very important.

So, while 64.3% of dealers planned to invest in online finance in the next 12 months, 84.2% of dealers believed it was important that the customer visited their showroom.

Similarly, 55.3% of... Read more

New tech revs up auto lending

by Madison Utley 29 Nov 2019 See Original Article >

A fintech company has launched a 'three click' car loan which enables dealerships to green light applications within two minutes.

Developed by AusLoans Finance Group, an automotive finance broker group, the new Zink technology has tripled productivity for its in-house brokers since being introduced in October.

The company spent two years developing the technology and plan to offer it to 1,100 dealerships across Australia in the coming months.

All that’s required is a photo of the driver's licence and, within two minutes, a 'traffic light' assessment is... Read more

Pain Points for Car Dealerships Conversation with Troy Blackwell from NuVinAir [VIDEO]

9/30/19 by Ryan Gerardi |Read Original Post

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In a recent article on Auto News, contributing author Alan Brown states that over the past decade, dealerships have done everything the manufacturers have asked: multimillion-dollar facility upgrades, more inventory and increased square footage. With the proliferation of the electric-vehicle and ride-share economies, what are automakers doing to return the favor, now that dealerships are oversized and underperforming?

Brown’s statement: ‘Not enough.’

Do you agree?

Throughout the article, Brown builds his case, and he makes some valid points.

For just the third time in a... Read more

Carvana debuts as No. 8 on used ranking

April 22, 2019 | by DAVID MULLER |

Even as used-vehicle sales and revenue are on the rise, dealers are facing increased competition.

The industry's most prominent new competitor in the used-vehicle market, online startup Carvana, debuts at No. 8 on Automotive News' list of the top 100 retailers based in the U.S. ranked by used-vehicle retail sales. Carvana retailed 94,108 vehicles in 2018, more than double what it sold the year before. The company was not on the 2017 list.

Since it went public nearly two years ago, Carvana has... Read more Names 2019 Brand Image Award Winners

April 17th, 2019 Staff Writer | Autodealer Today Magazine

IRVINE, Calif. — Kelley Blue Book announced the winners of the 2019 Brand Image Awards, a program based on new-car buyer perception data. Automakers are recognized for creating and maintaining brand attributes that earned the “attention and enthusiasm” of more than 12,000 in-market luxury, nonluxury, and truck shoppers who used to inform their purchase.

“Building familiarity and loyalty among car shoppers has never been more important to automakers, especially as the market is flooded with all-new and redesigned models competing for... Read more

Accessory Selling 101: Enthusiasts vs. Non-Enthusiasts

April 17, 2019 by Joe Witt | Digital Dealer

The Specialty Equipment Market Association (SEMA) published its latest market report recently. Of the many interesting findings contained within, perhaps the most exciting is that the accessory industry garnered an extraordinary $42.92 billion in retail sales last year.

One thing that didn’t change, however, is the association’s conclusion that accessory buyers are a diverse group. The report breaks “accessorizers” down into two categories: enthusiasts and non-enthusiasts. SEMA compares types of vehicles driven, population distribution, age, and more.

The... Read more

For dealer groups, used-vehicle sales to the rescue

March 27, 2019 by Daryl Lubinsky | Auto Remarketing

CARY, N.C. - In challenging times, used-vehicle sales are there to take up the slack.

At least that was the case for Group 1 Automotive in the fourth quarter and full-year 2018.

When times are good for auto dealers, used-vehicle sales also often play a prominent role, and that was the case for Asbury Automotive Group, too, as used vehicles helped that company achieve a record-breaking sales year in 2018.

For Group 1, its... Read more

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