Alex Perdikis of auto dealer Koons of Silver Spring says his company realizes that as the COVID-19 crisis continues, “these are the most challenging times we may ever experience in our lifetime.” Because of that, his company is offering pay the rent, lease or mortgage payment for the next two months, up to $1,500 a month, […] [Read More]

Amid the COVID-19 pandemic, the vehicle showroom has become a virtual one. And car dealers, like many other businesses, are having to shift their business to a mostly digital one. With that in mind, Cox Automotive's Mo Zahabi joins the show to discuss his Digital Retailing Best Practices webinar and how dealers can adjust to […] [Read More]

Franchised dealerships in the nation’s capital are answering the call to help healthcare workers with patients who have the coronavirus. On Monday, the Washington Area New Automobile Dealers Association (WANADA), also producers of The Washington Auto Show, made a $50,000 donation to MedStar Georgetown University Hospital, to help support its work screening and treating patients […] [Read More]

Online car marketplace Shift has created two temporary programs to help essential workers and the community at large obtain reliable transportation during the ongoing COVID-19 outbreak. The Essential Workers Program is one of those, and it will provide special discounts on vehicles for essential workers such as medical professionals, utilities operators and grocery store staff […] [Read More]

Used-vehicle sales declined 50% year-over-year in the last full week of March, according to the latest video report from Cox Automotive chief economist Jonathan Smoke that was released Tuesday. They fell 50.4% during the week, then “stabilized” on that Sunday (March 29). “However, when we look at the leading indicators of what these sales are likely […] [Read More]

Stephane Ferri has joined the Presidio Group as principal. For The Presidio Group, a merchant bank and investment banking adviser in the retail automotive sector, Ferri will focus on technology, M&A and principal investing activities and will be located in Presidio’s Atlanta office. Ferri previously served as senior vice president for Flexdrive LLC, which recently sold […] [Read More]

Saying it is continuing to support U.S. and Canadian dealers as the COVID-19 situation impacts automotive retail, CarGurus will extend its existing 50% discount on all marketplace subscriptions for U.S. and Canadian dealers through May. CarGurus said the move was a continuation of the rate reduction that it announced on March 18, adding that it made […] [Read More]

Sure, consumers are not going to dealership showrooms very much, if at all, right now. But it doesn’t mean they’ve stopped shopping or looking at vehicle inventory. Far from it. According to data from Cars.com, “tens of millions” of shoppers are still involved in the car-buying process — they’re just doing it online and looking […] [Read More]

Special incentives such as zero percent financing for 84 months and no payments for 90 days on select FCA 2019 and 2020 models are just one part of FCA’s new “Drive Forward” initiative. The initiative also features what the automaker is calling a “new online retail experience,” which allows consumers to purchase vehicles from home via […] [Read More]

The coronavirus pandemic has made it difficult to impossible for dealers to perform certain contractual obligations. Especially where shelter-in-place orders are in effect and auto dealer sales operations are considered to be non-essential businesses, a dealer forced to close its sales business may be unable to make payments due on floorplan loans or meet franchise […] [Read More]