Chrysler Group, attempting to keep up with high demand and dwindling inventories, today said four of its plants will forego the traditional two-week summer shutdown and continue producing cars and trucks through July.
GM will probably report that losses in Europe for the first quarter led to a decline in profit, raising pressure to find a solution for the unit that is undercutting the company's recovery in the United States.
DealerTrack’s Strati Papageorge will kick off the second webinar during Automotive News F&I Week next month. Papageorge will lead a session called “Show Me the Money! Best Bets for Structuring a Deal That Will WOW the Lenders.”
Chrysler Group dealerships likely won't feel any immediate impact from Chrysler's decision not to renew its subvented lending contract with Ally Financial next year, and they might not notice much change even then, says Ally President William Muir.
The six large public new-car retailers saw higher F&I revenues in the first quarter than they did a year earlier. And for all the dealership groups, F&I revenues were a major contributor to gross profits overall.
In the space of about six weeks this winter, my wife and I bought two new cars. The reason for this splurge was exactly what industry watchers have predicted: Old, wheezing cars eventually need to be replaced. The shopping process was pretty painless.
A flip through online advertising confirms that some dealerships still can't resist energetic come-ons inviting consumers to put their tax refund down on a car. That could be OK for consumers who can truly afford it.
When it comes to F&I products, it's tough to beat service contracts for value -- both for dealerships and their customers, says Richard O'Connor, vice president in charge of finance and insurance at Sonic Automotive Inc.
Daimler was again targeted by walkouts on Wednesday as Germany's IG Metall labor union expanded strikes which are also due to hit Audi and Porsche, as worker representatives seek improved pay and terms in the manufacturing industry.
French government interference helped PSA and Renault get through the financial crisis in 2009, but now threatens to push the two companies further behind rivals as job-security pledges prevent them from restructuring.
Mercedes regained the U.S. luxury-vehicle sales lead for the year over the BMW brand with April deliveries rising 24 percent, the biggest gain of any premium brand. Sales of Mercedes vehicles rose to 22,336 last month while BMW deliveries increased 12 percent to 21,062, ahead of No.