Latest from Neal E. Boudette
Andy Mohr Automotive Group, which has 11 rooftops in Indiana, is using digital tools to determine which types of communication keep prospective buyers engaged and which fail to connect with them, and thus which marketing opportunities to ignore or pursue.
Two Cleveland-area dealers have filed a federal lawsuit against Nissan, alleging its alliances with so-called “preferred dealers” amount to illegal incentive programs that violate both U.S. and Ohio laws.
Sales of premium-luxury vehicles have long been viewed as guaranteed money in the bank. Not any more. Both Penske and Group 1 reported a decline in per-vehicle gross profit for new and used vehicles, citing oversupply of some luxury models as brands like BMW, Mercedes, Lexus and others have pushed inventory on dealers in bids to grab market share.
Bernie Moreno is not your typical auto dealer. In just 10 years, he's built a growing empire of 18 dealerships in three states that generate more than $900 million in annual revenue. But perhaps most notable about the Colombia-born dealer is his willingness to buck convention.
Group 1's revenue increased in the fourth quarter, thanks to higher sales volumes in the U.S. and the United Kingdom, but its profit in the final three months of the year declined because of tighter margins on new cars, especially luxury vehicles.
In its drive to grab a larger slice of the U.S. market, Nissan North America is quietly forming alliances with selected dealers who get favorable treatment, and sometimes millions of dollars, from the company. Nissan says strengthening its retail networks is critical to its growth plans.
Automakers and suppliers have been rushing to build plants in Mexico and now the industry is starting to see signs of strain from the boom. BMW, Toyota, Hyundai-Kia, Audi and a Nissan and Daimler joint venture will soon be starting production and many Tier 1 suppliers in Mexico are expanding to keep pace with their customers.
Don Walker is leading Magna International through the headlong advance of technology, an evolving regulatory environment and industry globalization that have forced even the largest automotive suppliers to move nimbly to adapt.
CEO Don Walker is leading Magna International Inc. through the headlong advance of technology, an evolving regulatory environment and industry globalization that have forced even the largest automotive suppliers to move nimbly to adapt.
Automakers and suppliers have been rushing to build plants in Mexico, and now the industry is starting to see some signs of strain from the boom. Plant construction companies are booked up, and labor isn't as readily available as before.
