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Long-term development of your employees at all levels will help you achieve lasting results. Pexels/fauxels Investing in the growth of your team is not just a best practice but a strategic cornerstone that can significantly impact your dealership’s financial success and culture. Nonetheless, many dealer principals and managers may overlook the importance of consistent performance reviews…

Part of the new Alfa Romeo-Maserati program involves accurate restoration of vintage vehicles. Stellantis Italian Stellantis brands Alfa Romeo and Maserati will work together on a joint venture to produce limited-edition models and custom cars, perform vintage vehicle restorations, and develop race car technology. The automakers said the initiative was already in operation at their…

Nearly 60% of service slots are booked by phone, but many consumers face challenges accomplishing the task. Pexels/Andrea Piacquadio There’s ample room for auto dealers to grow their service drive business, based on recently measured consumer demand and pain points. A CDK survey of over 2,000 vehicle owners shows that dealers are leaving things to…

Dealers can learn how their vehicle investment values have changed and how to adjust prices to maximize performance and ROI opportunity. Pexels/Maria Geller A critical question for dealers emerged in their used-vehicle departments over the course of recent months: As wholesale and retail prices rise overall, how can I be sure I’m pricing each vehicle…

Affordability, especially in the lower risk tiers, continues to threaten business, the average monthly new-vehicle loan payment rising 3% year-over-year to $769.  Pexels/Pixabay Third-quarter automotive lending showed continued signs of weakness in higher-risk segments and increased delinquency rates. TransUnion data show that all consumer lending, including in auto, reflects a widening chasm between the highest-risk…

Scott Karchunas, president of Protective’s Asset Protection Division, said the combination expands ‘what’s possible in F&I.’ Protective Asset Protection Protective Life Corp., a U.S. subsidiary of Dai-ichi Life Holdings, entered into an agreement to acquire Portfolio Holding Inc., or Portfolio, and its subsidiaries from Abry Partners. Portfolio provides reinsurance management services and finance and insurance…

For one thing, F&I managers with the ‘it’ factor are disciplined in process. Pexels/Vojtech Okenka According to usdictionary.com, “the it factor” refers to a quality or characteristic that makes someone special, attractive, appealing or successful.  Those who have “it” weren’t born with it. No, they have developed the it factor over time. The following are…

Telltale signs of the problem include increased wind noise or rattle noises when the moonroof is open. Ford recalled 175,000 vehicles because a part on their moonroofs can detach and cause a traffic hazard. The Detroit-area automaker has gotten more than 300 warranty claims over the issue since 2021. It said it’s unaware of any…

Dealers have a healthy amount of skepticism when it comes to AI, though, 74% concerned about factual accuracy and 60% about data and algorithms, Cox found. Pexels/Lex Photography Though all-too-frequent references to artificial intelligence nowadays may make many people’s eyes glaze over upon mention of it, car dealers recognize it’s not going away, and most…

Two of the pieces are called chronographs for their stopwatch function.  Mercedes customers can keep up with time between driving trips from a selection of wristwatches the automaker recently unveiled. The three Swiss-made timepiece designs, available at Mercedes dealerships around the world, “are a perfect reflection of the brand identity of Mercedes-AMG vehicles,” the German…