Edmunds Predicts April Record for Industry Sales
The vehicle information site said this week that April sales are on pace to eclipse the April 2005 sales record of more than 1.5 million units. It also believes the industry is on pace to shatter last year’s 17.5 million-unit sales record.
N.Y. Dealer Admits to Falsifying Auto Loan Applications
N.Y. Dealer Gerald McDonald pleaded guilty last month to submitting fraudulent loan documents to financial institutions. He faces a maximum of five years in prison and a fine of up to $250,000 when he is sentenced on July 19.
Demand for Alternative Fuel Vehicles Dwindling
The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.
F&I, Fixed Ops Lead the Way for Sonic in Q1 2016
Record F&I and fixed-ops gross profit helped Sonic Automotive offset low vehicle sales. But the big story for the publicly traded dealer group was the performance of the F&I offices at its one-touch EchoPark dealerships. They increased their per-copy averages by 54.1%.
RoadVantage Rolls Out GPS Anti-Theft System
RoadVantage's newest product bundles GPS tracking with vehicle theft protection. Dealers can use it to keep track of and protect their inventory, while consumers can take advantage of a host of family safety features.