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In two tumultuous days in September 2008, Lehman Brothers and mega-insurer AIG collapsed, and Bank of America acquired Merrill Lynch, which was on the verge of sinking. The Wall Street panic and credit crunch that ensued devastated the U.S. auto industry. Apocalypse loomed. The publicly traded titans of American auto retailing were gravely exposed. One question stood above all: Could they avoid b
The nation's highest-volume Porsche dealership is trying to extricate itself from a scandal involving a former employee who is accused of pocketing over $2.5 million in customer deposits on nonexistent vehicles before he disappeared last month.
Hyundai Capital America has launched foreclosure proceedings against the owners -- auto industry veteran Michael Saporito and ex-NFL linebackers Jessie Armstead and Antonio Pierce -- of Hyundai and Kia dealerships in Pennsylvania accused of failing to repay loans.
The largest Porsche dealership in the U.S. has sued a former employee for allegedly defrauding customers of more than $2.5 million in deposits on special-order 911 GT3 and GT2 RS models that did not exist.
A trio of dealers accused by two automakers' captive finance arms of failing to repay floorplan loans asked a court to dismiss a lawsuit filed by Hyundai Capital America and order arbitration.
Described as a "house of cards" in court records, a once rapidly expanding dealership group with stores in Michigan, Pennsylvania and New Jersey is now facing lawsuits from Nissan and Hyundai's captive finance arms as the survival of its stores is in question.
When GM gave him 18 months to close, Karl Zimmermann bought hundreds of new cars from other dealers and continued to pay his sales staff typical commissions.
With a growing number of vendors pitching products in the F&I space, experts say vetting vendors is more important than ever. And in an age when protecting personal information and cybersecurity are top concerns, doing your own homework and asking questions is key.
RFJ Auto Partners uses Darwin and Darwin Online software in complete digital retooling.
After battling with automakers since February over sweeping proposed changes to dealer franchise law, California retailers won a limited victory in the state Legislature last week -- in part by setting aside their most contentious proposals.
A wide-ranging bill that the California New Car Dealers Association says will strengthen laws for franchised dealers has passed the California Assembly and is headed to Gov. Jerry Brown's desk.
Sonic late next month will pilot an online car-buying tool that will allow customers to prequalify for financing on specific vehicles. The tool, being developed in partnership with Capital One, will start with one or two lenders and add more.
Sonic Automotive Inc. is evolving its EchoPark stand-alone used-vehicle brand strategy, including the number of rooftops needed.
A subscription ban in Indiana and a California proposal to make automaker subscription programs go through dealers are the first steps taken in what could be a wave of scrutiny over subscription programs in state houses across the country.
Actor Mark Wahlberg and partner Jay Feldman are adding staff and bolstering promotional tactics at their new Chevy store in Ohio as they seek to ramp up sales.
Increasing demand for used vehicles, concern over potential tariffs and tightening supplies are causing used-vehicle prices to strengthen instead of taking their normal summer dip.
Actor Mark Wahlberg made his first pit stop into his namesake Chevrolet dealership in Columbus, Ohio, Monday, going on a test drive with a customer, autographing another customer's vehicle and posing for lots of selfies with staff.
U.S. dealership new-vehicle throughput -- or the average number of vehicles a dealer sells per store per year -- is expected to fall for the third straight year in 2018, Urban Science said.
Four of the six public dealership group peers are feeling a new-vehicle profit margin squeeze driven by BMW and Honda.
Sonic Automotive executives have been critical of pricey automaker dealership demands. The retailer's latest divestitures show what Sonic is doing about it.
Nissan North America's sales fell 15 percent in July to 108,792 as both car and truck deliveries slid by double-digit percentages from a year ago.
Ford's U.S. sales slipped 3.3 percent to 194,026 in July as car demand fell sharply and SUV and crossover sales dropped slightly from a year ago.
A Canadian auto retailer is growing its network of used-vehicle stores in Florida, and expansion into other states could be on the horizon eventually.
Margin pressures at BMW and Honda stores contributed to lower-than-expected second-quarter results at Sonic Automotive, though the retailer set quarterly revenue and gross-profit records.
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