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The direction of automotive retailing is up for debate, but considering recent moves by lenders and dealerships, industry leaders are placing their bets on the used-vehicle space.
After a public feud over customer-data access led to a severed contract, AutoNation and TrueCar made amends. Now, the dealership group is giving ex-TrueCar CEO Scott Painter a second chance.
AutoNation is partnering with Fair, a used-vehicle leasing subscription service, to offer customers a flexible lease option.
Karma Automotive, formerly Fisker Automotive, has partnered with Drive Motors, an online car-shopping and financing platform, in an effort to expand its scope despite its small dealership count.
As banks continue to lose share to credit unions, refinancing may be a short-term way for them to gain customers. Dealers should be cognizant of the potential strategy.
Chase Auto has handed responsibility for direct lending to its chief marketing officer, part of an effort to unify its customer-facing business and present services beyond traditional auto lending.
GM Financial is expected to serve as a fount of profits for General Motors to fund investments in emerging technologies.
As new-vehicle sales slow and margins continue to tighten, the used-car department may be the center of the dealership's "wheel of fortune."
Industry leaders are making their bets on the used-vehicle space.
Increasing efficiencies and maintaining a healthy portfolio rank high on Hyundai Capital's 2019 to-do list, says Ross Williams, the captive's CEO.
Loan and lease originations at Santander Consumer USA's Chrysler Capital unit climbed in the third quarter as talks continue with Fiat Chrysler Automobiles about the automaker's plan to form its own finance arm.
For the first time in its eight-year history, GM Financial has paid a hefty dividend to its parent, General Motors.
AutoNation's $50 million investment in online used-vehicle retailer Vroom could someday lead to a strategic partnership. But for now, it's solely an investment.
AutoNation's third-quarter net income rose on gains in the company's parts and service, used-vehicle and F&I businesses. The dealership group also announced a strategic investment in online used-car retailer Vroom.
Through Daimler Financial Services' investment in Soul Machines, a developer of emotional intelligence for use in machines and digital avatars, customers may be able to make their purchase and finance decisions with advice from an avatar.
As interest rates continue to climb, car buyers are taking notice. And many of them are objecting to rates offered by dealerships.
Rental car companies are partnering with some mobility players, acquiring others and leveraging their scale and expertise to play a key role in the future of transportation.
Next year, AutoNation will be ready to hand off its brand extension strategy to a new leader and decide in which elements of the brand extension to invest its capital and management expertise.
Dealers are expecting a steeper decline in personal vehicle ownership in the next five years than consumers, but they're not afraid of the change, according to Cox Automotive.
Big shifts are coming to the auto retail world, and dealers say they're getting ready for them. But don't fall for all the fantastical forecasts you hear, they caution.
"Question the hype." That's Wes Lutz's advice on prognostications of how primary transportation models will change.
At Faulkner Subaru Harrisburg, a robust training program keeps employee morale high and turnover low.
An F&I product sales boost may lie in the keystrokes of existing customers.
Wes Lutz, chairman of the NADA, cautioned the auto industry -- and the press that covers it -- to take the prognostications of how primary transportation models will change with a grain of salt.
Sears CEO Eddie Lampert has been selling off shares in AutoNation as his troubled Sears retail chain braces for a potential bankruptcy.
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