Major automakers on Tuesday posted lower U.S. new vehicle sales in April as consumer demand continued to weaken and competition intensified following a lengthy boom for the industry. Auto sales have been on a bit of a roller coaster ride this year, with a weak performance in February followed by a jump in sales for some automakers in March.
General Motors is launching new entry-level trims for four of its popular models that slash prices by removing some content but mostly seriously cut into dealer margins. The changes let the brands advertise segment-leading prices to attract potential buyers into showrooms.
You remember Rikk Wilde. The Chevrolet regional manager became an immediate sensation last fall when he stammered through his World Series presentation and invoked the now-famous "technology and stuff" catchphrase to describe the automaker's latest offerings. As it turns out, he's not the only car guy struggling to offer more specifics on the newest automotive technology.
Billionaire investor George Soros and his company Soros Fund Management are seriously investigating following Warren Buffett's lead and buying an auto dealer body. A Soros representative was reportedly trying to sell dealers on the idea during a private dinner, indicating that current management would stay in place, if the company invested.
Given the less-than-sterling reputation that car salesmen have among many consumers, it should be no surprise that they also have their own insider jargon. Much of the lingo is now finally coming to light in one place thanks to an Ohio lawyer specializing in 'lemon law' cases who keeps a dictionary of the terms on his website.
A car dealer in Manalapan, New Jersey pled guilty Monday to theft by deception after he manipulated the titles of cars damaged in Hurricane Sandy and sold the cars to unsuspecting customers.
Our friends at Engadget, tech-obsessed sister site of Autoblog, have taken an in-depth look at the reason why it's so difficult for Tesla to sell its cars directly to consumers, the same way that Apple, for instance, can sell you an iPad at an Apple Store. As you're probably aware, the whole sordid affair can be traced back to dealer franchise laws, which vary dramatically state to state, all with the stated goal of protecting your local neighborhood car dealers from unfair competition.
A high-end car dealer in San Diego, Calif. pled guilty in federal court Thursday to eight misdemeanor counts of breaking campaign finance law.
Fascination with Tesla Motors' role in the luxury electric vehicle market continues, even among the competition. Scott Keogh, president of Audi of America recently told Bloomberg that, Tesla is "cool" and "the talk of the town," and that, "what the industry as a whole can learn from them is continue to push innovation, continue to have the challenger spirit."
The head of the national car dealer's industry trade group warned Wednesday that if automakers start selling directly to consumers -- rather than through a middleman, like today's dealership system -- car makers will jack up prices and ignore customers.
The owner of a car dealership in Charleston, W. Va., sued the federal government over a mandate in the Affordable Health Care Act requiring employers offer the Plan B pill, only to realize his insurance policy already covered the emergency contraception. His lawyers just missed it.
At first glance, it appears a Hawaii man lives at a local car dealership. Look a little closer, and you'll find that Bishop Kamahiai and his family don't actually live there. His house is just engulfed by the dealership.
Subprime lending is on the rise throughout the auto industry, up 11 percent from the first quarter of last year. From the perspective of many auto dealers, that's a good thing.
The sales pitch goes something like this on the showroom floor: A car salesman makes an enticing promise. "We'll pay off your car loan, no mater how much you owe!" Or "upside down on your current loan? We'll pay off your trade."
Used vehicle prices have been on a tear for over a year now, as slow new vehicle sales during the financial meltdown of 2009 have created a dearth of available used models today. Yet the sluggish economy means demand for used vehicles is high, so dealers are going to ever-increasing lengths to acquire inventory.