The 2023 NADA Show wrapped up and dealers came away with plenty of news from their brands at make meetings and top-level views of the auto retail market heading into the year.
Nissan warned its dealers that Ariya EV supplies will be tight in 2023 and Ford dropped its EV sales cap for dealers on the less expensive tier of its electric vehicle certification program.
Meanwhile dealers are looking at a very different economic environment this year.
Ahead of the show the Automotive News Retail Forum: NADA also covered EV tax credits, FTC regulations and diversity.
Nissan warns dealers Ariya supplies will be tight in 2023
Sun, Jan 29, 9:55 pm
Nissan Motor Co., citing high battery material costs, warned dealers on Sunday that U.S. supplies of the Ariya crossover, a flagship electric vehicle, will be limited this year.
The Japanese automaker, during a make meeting at NADA, also announced plans for a wave of new EV and gasoline models it hopes will boost U.S. market share to more than 6 percent in fiscal 2023 from 5 percent last year. Nissan expects a 19 percent increase in production in 2023 vs. 2022.
Mitsubishi dealers prepare for better supply, new trims
Sun, Jan 29, 8:15 pm
Mitsubishi Motors dealers are expecting better vehicle supply this year from the automaker amid strong demand. They're also getting new vehicle trims for 2023, but no new models.
Mitsubishi Motors North America had its make meeting Sunday at the 2023 NADA Show in Dallas.
Hyundai dealers celebrate market share gains in the U.S.
Sun, Jan 29, 4:36 pm
Hyundai and its dealers celebrated major market share gains in 2022 and discussed the company's next big moves at the NADA make meeting on Sunday.
The brand ended the year with 5.2 percent market share, up from 4.9 percent at the end of last year, according to data from Motor Intelligence.
Kevin Reilly, chairman of the Hyundai National Dealer Council and owner of Alexandria Hyundai in Alexandria, Va., said its success is due in part to the Hyundai's investment in its product lineup.
Column: Dealers facing a very different year ahead
Sun, Jan 29, 4:34 pm
Rising interest rates, affordability, headwinds, anxiety.
Those aren't necessarily the first words rolling off people's tongues at the NADA Show. Dealers are coming off three years of making more money than ever before. Business has generally been good throughout the industry.
But those themes are cropping up in conversation after conversation at the show with dealers, vendors and those who track the health of the auto business, writes Retail Team Leader Amy Wilson.
Hyundai's low price days over as technology and style boost the brand's value
Sun, Jan 29, 4:32 pm
Hyundai's brand positioning and mission are shifting.
As the nation's 800 Hyundai showrooms fill with high-tech vehicles powered by cutting-edge drivetrains and sporting head-turning style, the automaker is moving further and further away from its roots as a brand that succeeded by undercutting competitors on price.
Mercedes dealers must educate customers on EVs, board leader says
Sun, Jan 29, 4:31 pm
With Tesla Inc. now the top-selling luxury brand in the U.S., Mercedes-Benz and its dealers must better educate customers on the benefits of electric vehicles as it plans to cut into Tesla's lead and go all-EV by 2030, according to the brand's dealer board chairman.
Joseph Agresta Jr., who took over as head of the dealer board Jan. 1, said he blames a lack of customer education for slow EV adoption rates in certain parts of the country.
Acura dealers will have to work harder to stop defections
Sun, Jan 29, 4:25 pm
The shortage of vehicles on Acura lots over the past year is causing shoppers to look elsewhere, said Glenn Davis, chairman of the Acura National Dealer Advisory Board. Davis, who owns Davis Honda in Burlington, N.J., and Davis Acura in Langhorne, Pa.
That means that Acura dealers need to work harder to reestablish brand loyalty now that recovering inventory presents luxury buyers more choices on what to buy.
Hall: Dealers ‘want Scout vehicles to be in our VW showrooms'
Sun, Jan 29, 4:23 pm
Volkswagen dealers would have had a really good 2022 if not for a couple of things, the new chairman of the Volkswagen National Dealer Advisory Council said.
First, the production shortage held sales back. Second, they were hit with a surprise announcement in May that Scout Motors will be revived as an EV brand, with products that VW retailers think should be in their showrooms.
EVs from Stellantis excite former FCA dealers
Sun, Jan 29, 4:20 pm
Randy Dye expects Stellantis to be a force to be reckoned with in the electric vehicle space.
Dye admits that Fiat Chrysler Automobiles was behind the curve on EVs but says the merger with PSA Group to form Stellantis in 2021 changed that.
Stellantis plans to launch more than 25 battery EVs in the U.S. by 2030. An electric Ram ProMaster van is slated for a 2023 arrival, and more debuts are scheduled for 2024, including the Ram 1500, the Wrangler-inspired Jeep Recon and the midsize Jeep Wagoneer S.
Cadillac dealers are preparing for EV rollout
Sun, Jan 29, 4:15 pm
General Motors has done a great job advising its brands' dealerships, including Cadillac stores, on how to prepare for the rollout of more electric vehicles as the brand's lineup transitions away from internal combustion, said Inder Dosanjh, chairman of the Cadillac National Dealer Council.
"They're much further ahead than other manufacturers as far as installing the chargers, the training," said Dosanjh, CEO of Dosanjh Family Auto Group in the San Francisco Bay Area.
NADA watching out for negative equity problems in 2023
Sun, Jan 29, 4:12 pm
Used-vehicle wholesale prices will continue to fall through 2023 as the coronavirus pandemic fades, NADA's top economist said, but negative equity could become a new point of concern.
“I've heard some anecdotal stories, and I am sure many of the dealers out here have [their] own anecdotal stories as well about people coming in very underwater,� NADA Chief Economist Patrick Manzi said at a press conference Saturday. “This is going to be one of the things that I am paying close attention to.�
Acura assures dealers: We need your partnership
Sun, Jan 29, 4:09 pm
As Acura works to digitize its sales process, the brand is assuring its dealers that the approach will not reduce the role of its dealer body.
That was the message in Acura's NADA make meeting Saturday -- that the automaker still needs its dealers.
‘Auto dealers know how to compete'
Sun, Jan 29, 4:08 pm
Preserving, protecting and promoting the new-car franchise system are the primary objectives for 2023 NADA Chairman Geoff Pohanka as he stands with dealers to tackle the industry's challenges this year.
Pohanka addressed a packed house on Saturday at the NADA Show, emphasizing some of the friction between dealers and their brands, including the growth of digital retailing, electric vehicle sticker prices and the rise of direct sellers.
Mini will continue to roll out ICE vehicles
Sun, Jan 29, 3:56 pm
Mini dealers have their hopes set on slightly improved – if still scarce – new-vehicle supply in 2023.
Mini told dealers at their make meeting Saturday that inventory will be more consistent in the coming months, now that the parts supply shortages and logistics challenges the brand dealt with last year are smoothing out.
Ford drops EV sales cap, lowers training costs for some dealers
Sun, Jan 29, 3:55 pm
Ford is eliminating the annual sales cap of 25 electric vehicles for dealerships on the less-expensive tier of the brand's EV certification program and reducing the amount those stores must spend training employees by $10,000.
The changes are a bid to win over retailers who took issue with some of the certification program's costs and requirements. Although enrollment for the program closed last month, Ford says it will allow dealers on a case-by-case basis to change their tier, join or drop out based on the newly announced changes.
Genesis dealers ask for more flexibility on facility upgrades
Sat, Jan 28, 10:33 pm
Genesis will consider granting some flexibility on its expensive Keystone facilities plan to dealers who were hesitant to construct exclusive storefronts for the young luxury brand.
Of Genesis' 270-dealership network, only two standalone stores opened in 2022 -- one in Lafayette, La., and the other in Greer, S.C. There are 75 more in some phase of development.
At the brand's make meeting Saturday, Genesis Motor North America CEO Jose Muñoz told dealers that investing in the standalone facilities would help boost the customer experience and, in turn, sales.
Kia leans into Super Bowl while others sit out
Sat, Jan 28, 9:17 pm
With the Super Bowl just two weeks away, Kia stands alone as the only automaker that has committed to running a commercial at this point.
The Korean brand, which has been a Super Bowl staple, will highlight the popular three-row Telluride. The utility vehicle has been freshened for the 2023 model year.
It is pushing the Telluride during the game because the company "increased production in the [West Point, Ga.] plant, starting in September, by 20 percent, so we need to make sure we keep telling people to keep the demand," said Russell Wager, Kia America's vice president of marketing.
Volvo dealers just want the good times to go on
Sat, Jan 28, 9:14 pm
Volvo dealers expressed a list of concerns at their make meeting, but almost all of them stemmed from a single concern -- Anders Gustafsson is stepping down as CEO of Volvo Car USA.
Volvo dealers have enjoyed a heyday with higher profits, better sales per store, good product mixes and good communications with the global decision-makers in Gothenberg, Sweden, said Ernie Norcross, chairman of the Volvo Retail Advisory Board. "And dealers are concerned about the change in continuity," he said. "Anders has helped us. We're on a profit run. We want to make sure things continue."
Cadillac to bring dealers onto digital retailing platform starting in Q2
Sat, Jan 28, 9:12 pm
Cadillac will bring its U.S. dealers onto General Motors' digital retailing platform beginning in the second quarter and will not limit it to electric vehicles as initially planned, GM executives said.
The online sales tool, powered by automotive technology provider Tekion, launched with the electric Chevy Bolt and initially was discussed as a way to drive EV sales. But executives told Automotive News that thinking has evolved, and Cadillac's full portfolio, including gasoline models, will be offered on the digital platform at the same time.
Cox Automotive's Rowley: Enthusiasm, anxiety on show floor
Sat, Jan 28, 9:05 pm
Not long after the NADA Show floor officially opened early on Friday, Cox Automotive President Steve Rowley walked around the massive vendor space, talking and listening to dealers and others as crowds milled about.
He noticed both enthusiasm and anxiety.
The enthusiasm came from the usual dealer eagerness to grow and build the business. Anxiety, more focused and intense than in the past, stemmed from economic concerns.
GM working to ease bottlenecks, near 100% production in 2023
Sat, Jan 28, 8:58 pm
General Motors expects to return to nearly full production this year and has taken action to minimize the logistical bottlenecks that have hampered shipments to dealerships, officials from Chevrolet and its dealer council said Saturday. GM is working to reduce ongoing supply chain constraints and avoid having unfinished vehicles awaiting parts, Scott Bell, vice president of global Chevrolet, told Automotive News ahead of the make meeting for Chevy and Buick-GMC dealers.
Subaru projects 2023 sales increase, shows dealers next Outback
Sat, Jan 28, 8:55 pm
Subaru executives told dealers Saturday that they can expect at least some relief from crazy tight inventory levels in the coming year as production levels increase. And they said the brand should see higher year-over-year sales as a result.
Tom Doll, CEO of Subaru of America, told Automotive News after the brand's make meeting that Subaru is forecasting a roughly 8 percent gain to 600,000 sales in 2023 as production constraints ease. Subaru sold 556,581 vehicles in the U.S. in 2022 and last topped 600,000 in 2020.
BMW EV volume expected to triple in '23
Sat, Jan 28, 8:51 pm
BMW dealers have an expanding portfolio of electric vehicles to look forward to in 2023 and should see significant volume increases as a result.
Shaun Bugbee, BMW of North America's executive vice president of operations, noted the arrival of the i4 sporty four-door, the iX midsize crossover and i7 large sedan in 2022.
Another i4 variant, the i4 eDrive35, and the i5, an electric version of the 5 Series midsize sedan, are set to launch in 2023.
VW plans to localize development, change marketing, dealers hear
Sat, Jan 28, 8:45 pm
Volkswagen dealers heard plans from the brand's new leadership team to further localize engineering and development in North America in the near future, as well as plans to change the way its vehicles are pitched to the public, according to dealers who attended the brand's make meeting Saturday.
"We got to hear Pablo's plans about bringing a lot of investment, design and engineering to Chattanooga, away from other parts of the world, which could be groundbreaking, even life-changing for the brand," said Charlie Hall, new chairman of the Volkswagen National Dealer Advisory Council, referring to VW of America CEO Pablo Di Si. "We might be able to finally break out of this boutique brand image that we've lived with in the U.S. for so long."
Infiniti to show dealers new products in June
Sat, Jan 28, 8:40 pm
Infiniti dealers who have been clamoring for fresh products soon will have a chance to "touch and feel" some upcoming new vehicles, an executive said Saturday.
Dealers who attended the Infiniti make meeting were shown a video of upcoming vehicles and told they could see some in person at a June meeting in Santa Monica, Calif. The brand is inviting all of its dealers in the U.S., Canada, Mexico, Latin America and the Caribbean to the event.
Sedans still have future at Honda as rivals bail on segment
Sat, Jan 28, 8:40 pm
Honda still sees plenty of room for growth in the sedan segment.
Dealers have "asked us to make sure that we continue to focus on those sedan segments, the Accord as well as the Civic," Larry Woelfer, assistant vice president of Honda sales, told Automotive News after the brand's make meeting Saturday. "I think while our competitors may have gone in a different direction, it creates more opportunity for us to meet that demand."
Dealers say turnover rate still too high
Sat, Jan 28, 8:36 pm
Attracting and retaining employees -- including after the COVID-19 pandemic changed business practices -- remains a priority for dealers, who are working to trim average turnover rates, panelists at AutoTeam America's buy-sell summit in Dallas said Thursday.
"Two things that are constantly evolving are our customers' expectations and the ability to attract employees in today's world," Paul Walser, a partner at Walser Automotive Group and former NADA chairman, said at the summit.
Lincoln loosens EV charger requirement for dealers
Sat, Jan 28, 6:39 pm
Lincoln is removing a requirement that dealers offer around-the-clock electric vehicle charging to the public as part of its EV certification program.
Executives, including the brand's new president, Dianne Craig, announced the change Saturday at the make meeting.
NADA chief economist expects slowing economic growth, rising auto sales in 2023
Sat, Jan 28, 6:25 pm
The NADA expects a slowdown in economic growth in 2023 with decelerating job gains in the first half of the year. But the auto retail trade group sees new-vehicle sales rising to 14.6 million as inventory rebuilds.
One of the keys for dealers trying to plan ahead this year will be “figuring out how to source affordable vehicles specifically,� says NADA Chief Economist Patrick Manzi, who made a presentation about group's outlook Saturday at the NADA Show in Dallas.
Listen to Manzi's full interview with Automotive News Audio Coordinating Producer Jake Neher below.
Gary Rome named Time Dealer of the Year
Sat, Jan 28, 3:46 pm
Gary Rome, dealer principal of Gary Rome Hyundai in Holyoke, Mass., was announced Friday as the 2023 Time Dealer of the Year by leaders from Time magazine and Ally Financial.
Rome founded Gary Rome Hyundai in 1997 after buying the original building from his father. Before that he was general manager of his father's Nissan store for many years.
Automotive News Video: Freedom Solar Power is driving dealers toward sustainability
Sat, Jan 28, 3:20 pm
Video reporter and anchor Kristen Strakalaitis talks to Freedom Solar from the NADA Show floor about how it's helping dealers save money and boost sustainability.
Mazda looks to roll out PHEVs over EVs
Sat, Jan 28, 3:13 pm
When Mazda's larger three-row CX-90 crossover goes on sale this year, it will be the brand's first offering of a plug-in hybrid powertrain in the U.S.
Mazda told dealers at their make meeting Friday that growing its PHEV business in the U.S. is a priority, and it will happen before the brand commits to pure battery-electrics like many rival automakers.
GM to include dealers in vehicle software sales
Sat, Jan 28, 3:09 pm
General Motors will include its franchised dealers -- and compensate them in some form -- as part of its strategy around future software sales after a vehicle purchase, executives said.
GM is developing its approach toward the sale of vehicle software and services in conjunction with its dealer councils and boards, GM North America President Steve Carlisle said in an interview at the NADA Show. The automaker is drawing on its experience with its OnStar in-vehicle safety and security service.
Toyota execs talk launches, franchise dealer model to packed house
Sat, Jan 28, 3:05 pm
For the first time in years, the Toyota and Lexus make meeting would have been standing room only on Friday.
Would have been, that is, if local police and fire officials had allowed all the dealers in who wanted to attend, instead of leaving many standing outside in line while the doors closed to a packed house.
Inside the meeting, dealers asked no questions and cheered when executives credited them with Toyota again finishing 2022 as the nation's top-selling brand at retail, said Steve Gates, chairman of the Toyota National Dealer Advisory Council.
Dave Christ, head of the Toyota brand, said dealers were told about the brand's important launches this year, including the redesigned and continually hot-selling Tacoma midsize pickup. He also said that Toyota remains completely committed to the franchise dealer model, including newly named Toyota Motor Corp. CEO Koji Sato.
Audi aims to increase leasing, CPO sales
Sat, Jan 28, 3:02 pm
Audi plans to work with its dealers to improve leasing rates in 2023 as inventory levels start to rebound after years of supply chain disruptions.
The brand told dealers its leasing rates have plummeted by roughly half since 2019, according to Brett Morgan, CEO of Morgan Automotive Group in Tampa, Fla., which includes one Audi store. He said the Audi make meeting Friday focused heavily on the desire to boost leasing and increase certified pre-owned sales.
Mercedes reports upcoming models, new dealer support model
Sat, Jan 28, 2:34 pm
Mercedes-Benz has significant fresh models coming to showrooms this year, it told dealers at the make meeting -- a meeting in which some lamented they are frustrated they can't get the inventory they want.
Mercedes' luxury products are chock-full of technologies and features and, like other manufacturers, shortages of critical semiconductors to create dealer orders.
Stellantis dealers near record profitability despite lower sales
Sat, Jan 28, 2:30 pm
Stellantis' U.S. dealers had their second-best year of profitability ever in 2022, even as sales fell 13 percent, a top executive with the automaker said Friday after the automaker's make meeting at the NADA Show.
That increased profitability and a surge in Stellantis' J.D. Power sales satisfaction scores gave the company and its dealers plenty to be excited about despite the production constraints that kept inventory tight, said Jeff Kommor, head of U.S. sales.
Alford: Dealers are risk-takers and entrepreneurs -- not 'robotic agents'
Sat, Jan 28, 2:29 pm
Dealers are risk-takers. They're entrepreneurs. And, increasingly, they're collaborative partners with the automakers whose vehicles they sell, said NADA's outgoing chairman, Mike Alford.
They are not -- and never will be -- “robotic agents of far-off manufacturers,� Alford said Friday during his keynote address to mark the end of his term.
CDK's 'fit and focus' revamp strategy included some job cuts
Fri, Jan 27, 10:33 pm
When Brian MacDonald returned as CDK Global's CEO last July, he promised a "fit and focus" strategy that would fine-tune product offerings to better meet dealer needs.
Six months later, the focus was emerging as CDK, no longer a publicly traded company after its acquisition by investment firm Brookfield Business Partners, touted technology advances at the NADA Show. And MacDonald also has taken steps to make the company more fit -- namely previously undisclosed job cuts that happened last fall at the dealership technology giant.
Nissan ‘determined' to keep vehicles at 30-45 days' supply
Fri, Jan 27, 8:15 pm
Nissan is "determined" to provide dealers with a 30- to 45-day supply of vehicles for most models, Nissan Americas Chairperson Jeremie Papin said Wednesday.
The supply would be dependent on segment and battery level, he said, and some market segments might need a bit more inventory to provide a diverse offering, he said.
Party with Paisley
Fri, Jan 27, 7:55 pm
Country singer Brad Paisley performs at the opening-night NADA Show Roundup at Gilley's Dallas, a special events venue featuring a variety of Texas cuisine, mechanical bull rides and line dancing.
Dealership sales could increase in next 3 years to meet publics' goals
Fri, Jan 27, 7:41 pm
The number of dealerships trading hands -- which one buy-sell expert estimates declined by nearly a quarter after 2021's record year -- could rise in the next three years to help three public auto retailers meet 2025 annual revenue targets, according to Alan Haig, president of Haig Partners.
Haig, who spoke Thursday at AutoTeam America's buy-sell summit, said Lithia Motors Inc., Sonic Automotive Inc. and Asbury Automotive Group Inc. would need to add a combined $48.7 billion in annual revenue through 2025 to meet respective plans.
Ford honors 2023 Salute to Dealers winners
Fri, Jan 27, 7:35 pm
Ford Motor Co. on Thursday honored six dealers for outstanding community service as part of its annual Salute to Dealers awards ceremony.
The reception ahead of the NADA Show was the first such in-person event in three years after the past two were canceled because of the coronavirus pandemic.
Thu, Aug 15, 8:54 pm
Elon Musk has turned into a favorite foil of Ford CEO Jim Farley.
Thu, Aug 15, 8:54 pm
Thu, Aug 15, 8:54 pm
Thu, Aug 15, 8:54 pm
Jim Farley puts Elon Musk on notice
Fri, Jan 27, 6:30 pm
Farley has positioned Ford's dealers as a strategic advantage against companies like Tesla and has previously said that a program requiring them to invest heavily to sell future EVs was a sign of Ford betting on its retail network.- Michael Martinez
"Thu, Aug 15, 8:54 pm
Thu, Aug 15, 8:54 pm
Either Ford has some fancy virtual reality display at its #NADASHOW stand
To elevate women in the workplace, set goals toward actionable change
To elevate women in the workplace, small, actionable steps can lead to meaningful change.
That starts with companies taking a look at their own management teams to ensure that women are present and included, said Amy Nelson, founder and CEO of The Riveter, a network and community for working women that launched in 2017.
Nelson spoke Thursday to about 500 attendees at Women Driving Auto Retail, an event hosted by NADA.
Retail Forum: Van Tuyl on the hunt ‘in 13 states' for dealerships
Fri, Jan 27, 6:12 pm
Dealer Larry Van Tuyl, who through his Visionary Automotive Group has eight dealerships in three states, remains on the hunt for more stores and is searching in some of the areas his former large group operated in.
Van Tuyl, speaking Thursday at the Automotive News Retail Forum: NADA, pointed to the footprint of his former company Van Tuyl Group, which he sold to Warren Buffett's Berkshire Hathaway in 2015, as to where he's looking.
Retail Forum: Prepare now for potential FTC regs
Fri, Jan 27, 6:07 pm
Dealerships shouldn't count on the Federal Trade Commission's proposed auto retail regulations to be "fixed" or "not take effect," an industry attorney told retailers Thursday.
"You need to become familiar with the rule," Hudson Cook partner Jean Noonan said during the Automotive News Retail Forum: NADA.
Retail Forum: Higher interest rates could slow Group 1 acquisitions in '23
Fri, Jan 27, 5:57 pm
While Group 1 Automotive Inc. will likely make more acquisitions in 2023, CEO Daryl Kenningham said the transactions may not come at the same rate as over the previous 18 months.
Kenningham said during a keynote chat at the Automotive News Retail Forum: NADA on Thursday that it's hard to predict deal pace.
Thu, Aug 15, 8:54 pm
Thu, Aug 15, 8:54 pm
That's TMNA CEO Tetsuo ""Ted"" Ogawa and Jack Hollis outside the Toyota Make Meeting. pic.twitter.com/PUBwNIS3VZWe're here at NADA. Stop by!
At the NADA Show? Stop by the Automotive News booth, #2333, and meet some of the staff, see video and podcast recordings, pick up a copy of our show daily and enjoy free wireless. We have some free tote bags as well to carry all your swag. Hope to see you there!
"Thu, Aug 15, 8:54 pm
Ford is working with its dealer council on changes to its electric vehicle certification program in response to arguments from state associations that it's unfair and breaks franchise laws, according to the brand's council chairman.
The changes would include narrowing the differences between the program's two tiers, one of which limits EV sales in exchange for a reduced investment in charging equipment.
TRUE
Thu, Aug 15, 8:54 pm
SCOOP: @Ford is weighing changes to three key areas of its EV dealer certification program. #NADASHOW https://t.co/EDnuhRS3kR
-- Michael Martinez (@MikeMartinez_AN) January 27
Economy brings challenges for used-car market
Thu, Jan 26, 11:35 pm
Challenging economic factors and an uptick in new-vehicle inventory are among key factors putting pressure on used-vehicle sales, according to David Paris, J.D. Power senior manager of market insights.
Affordability is another concern that is "here to stay." A vehicle under $20,000 is very profitable but has vanished from the marketplace, Paris said.
Scenes from the Automotive News Retail Forum: NADA
Thu, Jan 26, 11:30 pm
Dealers and top executives gathered Thursday for the Automotive News Retail Forum ahead of the 2023 NADA Show. The discussions focused on solutions to the industry's pressing issues such as the new EV tax credits and FTC regulations.
Here's a look at the event in pictures.
Retail Forum: Dealer Damon Lester says more diversity needed among owners
Thu, Jan 26, 11:25 pm
More work needs to be done to make the number of minority-owned dealerships representative of the U.S. car-buying market, dealer Damon Lester told the audience at the Automotive News Retail Forum: NADA on Thursday.
At the end of 2022, the minority dealer body totaled just more than 1,300. Hispanics made up the largest share of that group, owning just more than 500 dealerships, then Blacks with about 290, Asians with about 280 and the remainder owned by Native Americans.
Tech tools help dealers put people first
Thu, Jan 26, 11:14 pm
A modern dealership should put people first and keep customer needs paramount, and technology tools can help store leaders get there.
So concluded panelists speaking at the J.D. Power Auto Summit Thursday in Dallas. The group of industry experts and insiders said dealers, automakers and vendors need to think about what the term “modern retailing� really means.
Lithia CEO Bryan DeBoer says 100-150 more dealerships needed to hit revenue goal
Thu, Jan 26, 9:04 pm
Lithia Motors Inc., one the most active players in the buy-sell market, will need to acquire 100 to 150 more dealerships in the United States, and possibly elsewhere, between now and the end of 2025 to reach its goal of $50 billion in annual revenue that year, according to CEO Bryan DeBoer.
Retail Forum: Dealers, buyers need guidance on EV tax credits
Thu, Jan 26, 9:02 pm
Understanding -- and explaining -- revised federal electric vehicle tax credits is, for now, a complicated task.
But it's important that the industry has the necessary information to share with consumers if mass adoption of EVs is going to happen, panelists said Thursday at the Automotive News Retail Forum: NADA.
Hyundai looks to ‘Evolve' sales strategy
Thu, Jan 26, 8:05 pm
Hyundai will take another step in its experimental vehicle-marketing relationship with Amazon this year to see if the online retailer can play a bigger role in sales.
Hyundai believes Amazon can deliver showroom customers, said Randy Parker, CEO of Hyundai Motor America, at the J.D. Power Auto Summit in Dallas on Thursday.
Lithia's CEO and pinball wizard
Thu, Jan 26, 8:03 pm
Lithia Motors CEO Bryan DeBoer plays a game of pinball while speaking with Paul Daly of Automotive State of the Union at the AutoTeam America event in Dallas on Thursday.
DeBoer is an avid pinball fan and plays one to two hours a week. He said he also spends time working on pinball machines.
And yes, ever since he was a young boy, he's played the silver ball.
-Jack Walsworth
Hollis: New Toyota CEO Sato is 'great' choice for North America
Thu, Jan 26, 5:30 pm
North American dealers have a well-educated friend and advocate in the newly named CEO of the world's largest automaker, said Jack Hollis, the head of sales for Toyota Motor North America.
Koji Sato, a longtime executive at Toyota Motor Corp. in Japan and a protege of current CEO Akio Toyoda, will succeed his mentor in running the automaker effective April 1. As the head of sales for its North American arm, Hollis told dealers Thursday at the J.D. Power Auto Summit in Dallas that Sato knows the North American franchised dealer model and is a fan.
2023 dealer profits: Only way is down
Thu, Jan 26, 5:29 pm
The U.S. auto industry is expected to suffer a massive decline in total dealership gross profits this year, but it is still expected to finish with the third-best profit level in history as the industry rebalances itself, says Thomas King, president of data and analytics for J.D. Power.
Speaking Thursday at the J.D. Power Auto Summit in Dallas, King said the U.S. retail industry generated a record $55 billion in collective dealership gross and F&I profits in 2022 as low inventories and reduced incentives met strong demand to push transaction prices to record levels.
Thu, Aug 15, 8:54 pm
The Automotive News Retail Forum: NADA is underway in Dallas. You can follow highlights the Automotive News Twitter account.
Thu, Aug 15, 8:54 pm
Lester: There's a loyalty that you have to have if you're passionate about something.
Thu, Aug 15, 8:54 pm
Lester on the NAMAD industry. #ANRetailForum #NADASHOW pic.twitter.com/exbmBNwkroWomen Driving Auto Retail gathering
About 500 people attended the Women Driving Auto Retail Brunch event on Thursday morning, one of the first NADA events.
A helping hand
J.D. Power president Dave Habiger's microphone quit at the J.D. Power Auto Summit. So he shared Hyundai Motor America CEO Randy Parker's lavalier microphone.
Automotive News Video: NADA Show preview
Video reporter and anchor Laura Harris gives a preview of the 2023 NADA Show, interviews Automotive News Retail Team Leader Amy Wilson, and highlights the top issues facing dealers.
NADA Chairman: ‘We absolutely believe' in franchise
Mon, Jan 23, 9:12 pm
Mike Alford, NADA's 2022 chairman, spoke with Automotive News about the franchise system, electrification, ongoing federal regulatory issues and his outlook for dealers in 2023.
Incoming NADA chairman Geoffrey Pohanka's agenda: Data-sharing, franchises
Mon, Jan 23, 9:07 pm
Incoming NADA chairman Geoffrey Pohanka's agenda: Data-sharing, franchisesGeoffrey Pohanka, the driving force behind NADA's "Guiding Principles on Evolving Business and the Dealer Franchise System," steps into the role of the group's council chair for 2023. At the top of his agenda: ensuring manufacturers and dealers are square on data-sharing; fairly implementing over-the-air updates; getting dealers ready for the expensive transition to EVs; and staying competitive so direct sellers don't take "our business."
Dealers face EV hurdle
Mon, Jan 23, 9:01 pm
With more automakers charting electric paths, dealers are readying their sales and service operations to handle the influx of used EVs that will eventually arrive when all those new models age and permeate auction lanes or return to dealerships as trade-ins. They also are fielding increased interest from shoppers in buying used vehicles with alternative powertrains even as they try to understand the potential impact of federal tax credits made available for the purchase of used EVs as part of the Inflation Reduction Act.
Dealerships renew focus on basic sales training
Mon, Jan 23, 7:45 pm
Dealership talent and training consultants say that as vehicle inventory increases, it will be important to train sales employees on the fundamentals of selling to stay ahead of increased competition.
Floorplan revenue expected to dive after years as a profit source
Mon, Jan 23, 7:41 pm
Higher interest rates and car prices, combined with a likely influx of new-vehicle inventory as the industry's supply shortages start to ease, mean floorplanning revenue for dealerships will drop -- or even flip to a cost -- bringing about the end of its status as an unlikely profit center.
What's on the minds of dealer council leaders?
Mon, Jan 23, 7:35 pm
What issues are on the minds of franchised car dealers just ahead of the 2023 NADA Show? To find out, Automotive News talked with leaders of the dealer councils for almost all brands.
Will leasing rally in 2023?
Mon, Jan 23, 7:33 pm
Experts are predicting that leasing will grow as a proportion of auto sales in 2023 after falling last year to what Cox Automotive said was its lowest share of the market in at least a decade.
Affordability concerns and increased automaker incentive spending are expected to help drive that growth
