In 2016, when Ricart Automotive sold 8,000-plus used vehicles, Rick Ricart figured: “We really don’t need to sell more used cars; we need to do a better job with the number we’re selling” and gross profits. But when the dealership group sold virtually the same number of used vehicles in 2017, Ricart concluded that those […] [Read More]

Thousands of viewers in person and watching on television saw an exciting NCAA football game as the Tulane Green Wave defeated the Louisiana-Lafayette Ragin’ Cajuns, 41-24, in the AutoNation Cure Bowl at Camping World Stadium in Orlando this past Dec. 15. But for automotive retailer AutoNation, the game served as great publicity. Sports fans saw […] [Read More]

There are lots of opportunities for innovation in the used-car space for dealers. In fact, some may say it is a hotbed for new ideas.  “I think a lot of the most exciting trends in automotive buying are going to be led by used-car retail,” Aaron Krane, the chief executive of Drive Motors, which develops online […] [Read More]

A walk through the customer-facing side of the EchoPark Automotive store in Charlotte, N.C., has the feel of a cafe, not a car dealership. The employee work area, separated from the consumer-facing front, has the trappings of a young, tech-leaning startup. But the innovation of this store and its fellow EchoPark locations go well beyond […] [Read More]

Consumers want a car-purchase process that is seamless, streamlined and limits their in-dealership transaction time to an hour or less. That means allowing consumers to compare interest rates, electronically sign credit applications and other documents and shop for finance and insurance products all on a dealership’s website before stepping foot into the dealership. OK, so […] [Read More]

As a master impressionist and a man of many characters from his “Saturday Night Live” days and beyond, Dana Carvey, one of the keynote speakers at NADA Show 2019, has had to wear many hats, so to speak. So too does the franchised car dealer. Just as Carvey’s repertoire has ranged from characters like “Garth […] [Read More]

When the 2019 leadership of the National Automobile Dealers Association was announced in October, incoming chairman Charlie Gilchrist said in a news release that dealers “are facing many challenges, but we will also have many opportunities as we journey throughout the year.” Topping that list of challenges, Gilchrist said in an emailed Q&A with Auto […] [Read More]

Last year, 53.7 percent of customers returned to market to purchase or lease another new vehicle from the same make they already owned. Also, converting a customer from used to new can have an impact on loyalty rates. More than 29 percent of used-vehicle owners who returned to market for a new vehicle during the […] [Read More]

In this episode recorded at Used Car Week in late 2018, Nick Peluso of Cox Automotive is back to talk about the changes on the selling side of remarketing cars, concierge service in off-site wholesale selling and how Manheim aims to provide a "future-proof digital marketplace."  The podcast discussion can be found below. Download and subscribe […] [Read More]

A new company is promising to “turn the traditional ridesharing business model on its head,” concentrating on factors such as safety and hospitality, along with passengers’ “in-car experience.” The company, Alto, enters the on-demand rideshare market with $14.5 million from two rounds of funding and has several investment partners, but the new company wants those […] [Read More]