Latest Online Edition  Read Here

THE GOOD FIGHT: Paul John, executive director of the Georgia Independent Automobile Dealers Association, discusses how the association fought against state legislation that would have raised the taxes on used-car purchases.

dealership dealership

Lender Relationships Critical to Dealer Success Featured

The relationships auto finance providers develop with dealerships are critical to dealer satisfaction and to remaining competitive in the market, especially as the new-vehicle sales market tightens, according to the J.D. Power 2016 U.S. Dealer Financing Satisfaction Study, released recently.A combination of slowing new-vehicle sales and an uncertain used-car market is contributing to an already contested auto-lending environment. Technology has eliminated disparity of speed in financing, leaving lenders to differentiate themselves by the relationship they are able to form with the dealership.“Speed has been king and the area lenders have traditionally focused on, but as the market gets tougher, lenders need to center their attention on their relationships with dealers, or they are going to lose business,” said Jim Houston, senior director of the automotive finance practice at J.D. Power. “Lenders need to move beyond a transactional relationship with dealers to a richer consultative partnership.”Houston noted that in building a dealer-centric culture, lenders must understand their dealers’ businesses and goals, which helps establish them in the eyes of dealers as their business partner and problem solver. That starts with communication with the dealer. The study finds that fewer than half of dealers receive consistent sales rep calls or visits, both of which can boost overall satisfaction by as much as 68 points and 75 points, respectively, on a 1,000-point scale.  But it's more than just the frequency of the contact, it's the nature of those touch points that adds value to the relationship.“Dealers value a lender that can help them handle the tough issues and solve those 'outside-the-box’ situations,” said Houston. “This is where having the right people focused on their dealers and helping them execute their strategic plan is essential.”  
Last modified on Monday, 15 August 2016 18:49
Consumer Reports Ranks Brands For Reliability

Consumer Reports Ranks Brands For Reliability

Toyota and Lexus once again finished atop the Consumer Reports’ Annual Auto Reliability Survey, but the news was the No. 3 finisher – Buick.The General Motors division became the first...

Kawasaki Recalls Motorcycles for Shock Absorbers

Kawasaki Recalls Motorcycles for Shock Absorbers

Kawasaki Motors Corp., U.S.A. is recalling 2,383 2017-18 ZR900AH, ZR900BH and ZR900BJ motorcycles. The rear shock absorber tie-rod frame mount holes can become elongated if the rear shock...

  • Research Firm Highlights Autos
    Research Firm Highlights Autos Stock-Callers.com spotlighted auto dealership groups in its recent stock research report.It stated the auto dealership industry, which continues to benefit from an improved labor force, cheap gas and low interest…
    Written on Tuesday, 16 August 2016 14:34
  • FTC Accuses Dealers of Yo-Yo Financing
    FTC Accuses Dealers of Yo-Yo Financing The Federal Trade Commission has charged nine Los Angeles-area auto dealerships and their owners with using a wide range of deceptive and unfair sales and financing practices. This is the…
    Written on Sunday, 02 October 2016 18:53
  • Reynolds Continues Library Rollout
    Reynolds Continues Library Rollout The Reynolds and Reynolds Company today announced that Reynolds Document Services has developed 30 state-specific Reynolds LAW brand finance and insurance (F&I) documents libraries, surpassing the midway point to a…
    Written on Thursday, 22 September 2016 17:00
  • Delinquencies Rise, Outlook Remains Stable
    Delinquencies Rise, Outlook Remains Stable The seasonably slow summer months are translating to notable increases in annualized losses and delinquencies for U.S. subprime auto loan ABS, according to the latest index results from Fitch Ratings.…
    Written on Thursday, 25 August 2016 14:00
  • Lender Relationships Critical to Dealer Success
    Lender Relationships Critical to Dealer Success The relationships auto finance providers develop with dealerships are critical to dealer satisfaction and to remaining competitive in the market, especially as the new-vehicle sales market tightens, according to the…
    Written on Monday, 15 August 2016 14:53
  • Auto Finance Remains Strong, But Concerns Increase
    Auto Finance Remains Strong, But Concerns Increase Delinquencies and losses on prime auto loan ABS remained historically low through June, despite slow growth in the U.S. economy, according to Fitch Ratings. Most economic factors that affect ABS…
    Written on Friday, 05 August 2016 14:32
  • Franchise Employees Get a Raise
    Franchise Employees Get a Raise The average annual compensation for employees at new-car dealerships working in all positions was $69,718 in 2015, an increase of 1 percent from the previous year, according to a new…
    Written on Sunday, 02 October 2016 18:53
  • Santander Names CEO
    Santander Names CEO The board of directors of Santander Consumer USA Holding Inc. announced that Scott Powell will succeed Jason Kulas as president and chief executive officer, effective immediately. Powell will continue to…
    Written on Tuesday, 29 August 2017 01:03
  • Drivin Expands Partnership with Bank
    Drivin Expands Partnership with Bank Drivin is expanding its partnership with Silicon Valley Bank with a new $6.5 million senior debt facility.This new financing will accelerate Drivin's growth initiatives and enable Drivin to continue its…
    Written on Monday, 26 September 2016 03:09
  • Margin Between Trucks, Cars Widens
    Margin Between Trucks, Cars Widens Average wholesale values fell modestly and in line with typical seasonal patterns in August. According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class,…
    Written on Tuesday, 27 September 2016 14:19