F&I Magazine and Showroom

The used car retailer will continue to operate in Illinois under some restrictions.

https://www.fi-magazine.com/369901/carvana-settles-dispute-with-state-of-illinois

Around $28 billion in green bonds are available globally for automakers to help fund their transition to electric vehicles.

https://www.fi-magazine.com/369900/green-bond-availability-grows

The company reported a profit before tax of $326 million for the quarter ending in December.

https://www.fi-magazine.com/369899/jaguar-land-rover-reports-profit-for-q3-of-its-fiscal-year

When you are selling multiple products in order of priority, it is important to examine your ranking to decide if your predetermined order still makes sense.

https://www.fi-magazine.com/369895/rethinking-fi-product-priorities

Would you consider yourself an F&I professional? If your answer is yes, I have another question; How often do you practice?

https://www.fi-magazine.com/369893/fi-practice

It’s time to create an environment and culture that welcomes the inherent fears and curiosities of EV buyers, and those who aren’t EV buyers-yet.

https://www.fi-magazine.com/369891/getting-everyone-ev-ready

Last week, wholesale price declines lessened, coming in at a level on par with last July (apart from the weeks around Thanksgiving and Christmas when volume and conversions were down), before the...

https://www.fi-magazine.com/369889/black-book-weekly-market-update-1

F&I met with ECP to discuss the company’s defining traits.

https://www.fi-magazine.com/369882/product-spotlight-an-interview-with-ecps-lead-chemist

The Detroit automaker has earmarked $854 million to prepare four plants to produce its sixth generation Small Block V-8 engine.

https://www.fi-magazine.com/369881/general-motors-manufacturing-investments-include-ice-engines

Cox reports that in the auto sector sales of motor vehicles and parts fell in December.

https://www.fi-magazine.com/369880/auto-sales-decline-in-december

New research from Cox Automotive shows consumer satisfaction with the car buying process declined in 2022 for the second consecutive year.

https://www.fi-magazine.com/369850/customers-less-satisfied-with-buying-process-in-2022

Tesla has built a commanding lead over most major rivals in profit per vehicle, according to Reuters research.

https://www.fi-magazine.com/369849/tesla-leads-in-profit-per-ev

TransUnion research finds a lack of inventory and low interest rates turned consumers away from leasing new cars and trucks over an 11-month period.

https://www.fi-magazine.com/369848/auto-leases-fell-in-2022

Interest rates will continue climb, eating into inventory improvements’ effect.

https://www.fi-magazine.com/369839/car-financing-costs-will-keep-rising-this-year

To showcase how customers can shop from chat to funded deal with no dealership calculation adjustments to match online quotes.

https://www.fi-magazine.com/369836/reynolds-gubagoo-to-launch-future-of-retail-anywhere-at-nada

Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.

https://www.fi-magazine.com/369828/auto-market-experiences-ups-and-downs

Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.

https://www.fi-magazine.com/369827/demand-destruction-a-concern-for-2023

With two weeks of the new year now behind us, the trends that we ended 2022 with are continuing into 2023.

https://www.fi-magazine.com/369829/black-book-weekly-market-report-9

‘White-hat’ experts access customer data, even remote control of some models.

https://www.fi-magazine.com/369825/hacking-exercise-reveals-vulnerabilities-of-high-tech-cars

Rate grows as borrowers try to lower monthly payments.

https://www.fi-magazine.com/369823/more-auto-consumers-opting-for-longer-loan-terms

Brand says 60% enrolled in certification program.

https://www.fi-magazine.com/369818/big-chunk-of-lincoln-dealers-onboard-with-ev-sales

Report shows pace of adoption building as ICE vehicles wane.

https://www.fi-magazine.com/369815/ev-sales-keep-up-growth-in-2022

Its 2022 deliveries were up 44%.

https://www.fi-magazine.com/369810/tesla-passes-bmw-for-us-luxury-sales-lead

Ruling could mean more auto manufacturing outside the States.

https://www.fi-magazine.com/369808/us-loses-north-american-trade-fight

Addition of first-party data-cleansing and secure storage provider AutoMiner enhances PureCars’ ability to improve effectiveness of sales, fixed operations and retention-marketing programs.

https://www.fi-magazine.com/369807/purecars-acquires-customer-data-management-platform

Kelly Blue Book data show prices up year-over-year in December.

https://www.fi-magazine.com/369805/new-vehicle-prices-end-2022-at-record-highs

The Collection, has recently filed a lawsuit against Porsche, AG, in which they are alleging that Porsche has violated Florida statutory law by engaging in inappropriate business tactics.

https://www.fi-magazine.com/369802/is-porsche-paving-the-way-for-a-new-sales-model-or-will-dealerships-still-have-a

The National Highway Traffic Safety Administration will propose new fuel economy standards for the 2027 model year and beyond in April.

https://www.fi-magazine.com/369799/nhtsa-to-propose-new-fuel-economy-standards

Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.

https://www.fi-magazine.com/369798/new-vehicle-prices-continue-to-soar

Report shows fraud on increase, despite digital devices.

https://www.fi-magazine.com/369794/odometer-rollbacks-up

When customers see the process is centered around them and effort is applied to make sure they understand the entire transaction, the trust level is extremely high.

https://www.fi-magazine.com/369786/three-powerful-truths-of-consultative-selling

With 2022 fully in the rearview mirror, we can begin to evaluate the years performance: the overall market finished down 22.9%, with Cars down 22.7% and Trucks down 23%.

https://www.fi-magazine.com/369784/black-book-weekly-market-insights-5

Steep decline signals return to new normalcy.

https://www.fi-magazine.com/369782/used-car-prices-tick-down-in-2022

Make up for some lost sales in Q4 with help of electric push.

https://www.fi-magazine.com/369780/luxury-german-brands-dip-in-2022

Without an SUV classification, the Cadillac Lyriq exceeds the price threshold for federal tax credits for EVs.

https://www.fi-magazine.com/369769/gm-asks-treasury-to-classify-its-cadillac-lyriq-as-an-suv

The average payment climbed to $717 in the fourth quarter of 2022, which is 50% higher than in 2010, according to Edmunds.

https://www.fi-magazine.com/369768/auto-loan-payments-rates-hit-record-highs

U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.

https://www.fi-magazine.com/369767/u-s-ev-sales-spiked-in-2022

Report forecasts production cuts resulting from issue this year.

https://www.fi-magazine.com/369765/chip-problem-continues-to-lesser-degree

Report shows car loan amounts, down payments rising along with interest rates.

https://www.fi-magazine.com/369763/car-buying-grabbing-more-wallet-share

Company plans to showcase new ways to speed up cash flow at NADA 2023.

https://www.fi-magazine.com/369758/reynolds-reynolds-brings-retail-anywhere-approach-to-business-office

Early figures show about 10% drop, but there was a late-year surge.

https://www.fi-magazine.com/369754/cpo-sales-dropped-last-year

NADA report shows business weakest in years.

https://www.fi-magazine.com/369752/2022-light-vehicle-sales-well-light

In this video, Joe Porter, from the Automotive Training Academy by Assurant supplies a valuable message that will help in the F&I office and on the sales floor. Watch as he explains why and how t...

https://www.fi-magazine.com/369747/the-lost-art-of-building-rapport

The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.

https://www.fi-magazine.com/369744/ford-reports-2-decline-in-sales-for-2022

In the fourth quarter, Stellantis reported new vehicle sales declined 16% to 347,669 vehicles.

https://www.fi-magazine.com/369743/stellantis-reports-6th-quarter-of-sales-declines

Lawsuit that sought to bar such sales in the state by Rivian, Lucid dismissed.

https://www.fi-magazine.com/369741/illinois-dealers-lose-direct-sales-fight

Chip shortage weighs on its sales more than some other competitors.

https://www.fi-magazine.com/369739/nissan-takes-2022-q4-hit

Also simplifies web address in effort to add to its ease of use.

https://www.fi-magazine.com/369734/smart-payment-plan-now-smartpay

Company rebrands to emphasize focus on improving customer experience in automotive industry.

https://www.fi-magazine.com/369733/interactivetel-changes-name-to-totalcx

Small decrease balanced by higher sticker prices.

https://www.fi-magazine.com/369731/bmw-sales-dip-in-2022

Loosening inventories balance economic pressures, including rising interest rates.

https://www.fi-magazine.com/369729/carmakers-post-strong-year-end-sales

The year closed out with another week of above average weekly depreciation.

https://www.fi-magazine.com/369719/black-book-weekly-market-update-12

Tune into this F&I Tip of the Week with Brown & Brown Dealer Services' John Tabar!

https://www.fi-magazine.com/368763/fi-tip-of-the-week-one-on-one-coaching

Safety issues affected 8.6 million vehicles.

https://www.fi-magazine.com/369717/ford-has-most-2022-recalls

Diesel fuel prices have started to fall, but they still remain at historical highs.

https://www.fi-magazine.com/369716/diesel-fuel-prices-starting-to-fall

As of January 1, consumers can lease electric vehicles and qualify for up to $7,500 in commercial clean vehicle tax credits.

https://www.fi-magazine.com/369715/commercial-ev-vehicle-leases-to-qualify-for-tax-credits

Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.

https://www.fi-magazine.com/369712/new-vehicle-sales-plummet-to-record-lows-in-2022

Dealer profits still high, though fewer units marked above MSRP.

https://www.fi-magazine.com/369713/improved-inventories-boost-december-sales

Industry-leading F&I providers combine.

https://www.fi-magazine.com/369708/apco-holdings-llc-acquires-national-auto-care-creating-nationwide-fi-force

If a dealership is still buying Sharpies to complete paper Four Squares, you will probably find a higher percentage of packed payments or potentially discriminatory pricing.

https://www.fi-magazine.com/369701/desking-in-a-rising-rate-environment

The technology of today has far surpassed “penny-perfect,” and those competitors who understand this are cleaning up.

https://www.fi-magazine.com/369699/why-penny-perfect-payments-simply-dont-cut-it

If we provide the path through the process that our customers enjoy, expect, and hope for, they will trust us and listen to the insight we offer.

https://www.fi-magazine.com/369687/the-path-of-people-the-power-of-empathy

Join Brown and Brown Dealer Services' John Tabar, with this F&I Tip of the Week!

https://www.fi-magazine.com/368630/fi-tip-of-the-week-sharing-new-information-to-show-value

Report shows used models in particular to fall as new-car inventory improves.

https://www.fi-magazine.com/369676/car-prices-to-ease-in-2023

Join Brown & Brown Dealer Services' John Tabar, here with this F&I Tip of the Week.

https://www.fi-magazine.com/368673/fi-tip-of-the-week-primary-responsibility

It is not clear how current economic conditions will affect vehicle sales, auto lending and remarketing over the next 12 months.

https://www.fi-magazine.com/369670/impacts-of-a-down-economy

Used-car retailer grapples with waning demand in face of economic challenges.

https://www.fi-magazine.com/369666/carmaxs-bad-q3-results-drag-down-industry

Joins growing list of carmakers embracing electrification.

https://www.fi-magazine.com/369664/audi-to-abandon-ice-vehicles

State-of-the art facility to enhance Proton Dealership IT’s cyber threat monitoring and response services.

https://www.fi-magazine.com/369668/security-ops-center-planned-at-reynolds-hq

Reynolds and Reynolds/Proton Dealership IT offer tools for compliance, security ahead of FTC Safeguards Rule deadline.

https://www.fi-magazine.com/369662/compliance-offering-for-dealerships-released

Data analysis puts South Korean brand’s volume above GM, other big players.

https://www.fi-magazine.com/369655/bloomberg-names-hyundai-worlds-3rd-biggest-carmaker

Forecast shows rising sales, inventory, and good 2023 outlook.

https://www.fi-magazine.com/369653/dealers-getting-december-gift-of-good-business

According to Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors, dealership buy/sells increase 25% YoY as auto retailers overcome economic headwinds to achieve a 205% increase in earnings ...

https://www.fi-magazine.com/369648/auto-dealership-buy-sell-stays-hot-with-yet-another-record-in-2022

With the holidays approaching, auction lanes are following the trend of past weeks of being slow.

https://www.fi-magazine.com/369646/black-book-weekly-market-report-3

It will buy at least 66K EVs by 2028.

https://www.fi-magazine.com/369644/usps-to-electrify-much-of-delivery-fleet

Controversial rules on battery component sourcing anticipated by carmakers.

https://www.fi-magazine.com/369642/ev-tax-credit-guidance-delayed

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.

https://www.fi-magazine.com/369636/automaker-favors-varied-auto-lineup-to-all-evs

The automaker’s top of the line Touring model Accord will come with “Google built-in” in 2023.

https://www.fi-magazine.com/369635/honda-accord-touring-model-to-include-android-automotive

But multiple obstacles stand in the way of widespread adoption.

https://www.fi-magazine.com/369634/new-index-shows-evs-have-gained-ground

More and more dealers signing onto captive service.

https://www.fi-magazine.com/369633/stellantis-finance-unit-ramps-up

Court rules that Hyundai’s discretionary allocations weren’t unreasonable.

https://www.fi-magazine.com/369625/texas-discretionary-allocation-suit-decided

Implore transportation secretary to work with carmakers to deploy connected-car technology.

https://www.fi-magazine.com/369624/lawmakers-seek-help-to-prevent-crashes

New Experian report finds average loan terms extend for new and used vehicle loans as interest rates rise.

https://www.fi-magazine.com/369620/state-of-the-automotive-finance-market-q3-2022

From inventory and pricing trends to future predictions, this report provides everything auto dealers need to know to prepare for a successful year in 2023.

https://www.fi-magazine.com/369618/zerosum-dealers-market-first-report-2022-automotive-inventory-trends-that-matter

NASCAR Driver Toni Breidinger teams up with Kelley Blue Book to test top award winner.

https://www.fi-magazine.com/369616/kbb-announces-winners-of-2023-best-buy-awards

Economic pressures expected to make 2023 even more challenging.

https://www.fi-magazine.com/369614/vw-cfo-foresees-tighter-new-year

The interest rate factor actually buoys them, Cox says.

https://www.fi-magazine.com/369612/cpo-sales-up-year-over-year

Details of CX-90 to be fully revealed in January.

https://www.fi-magazine.com/369603/new-mazda-suv-part-of-industry-electrification-trend

The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.

https://www.fi-magazine.com/369601/used-vehicle-prices-drop-as-other-costs-remain-high

Hudson Automotive buys nine from Asbury.

https://www.fi-magazine.com/369598/n-c-stores-bought-from-one-of-top-u-s-groups

The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.

https://www.fi-magazine.com/369597/redwood-materials-to-build-s-c-battery-manufacturing-and-recycling-facility

Partners with Legacy Auto Credit in Ontario for app-based subscription-to-ownership program.

https://www.fi-magazine.com/369595/driveitaway-holdings-partnership-launches-subscriptions-in-canada

Sales rates continue to be less than ideal, with many buyers exercising caution for fear of loading up on inventory that does not turn quickly, especially when values are experiencing heavy decli...

https://www.fi-magazine.com/369592/black-book-weekly-market-report-8

Magazine cites in part the model’s appeal to existing truck owners.

https://www.fi-magazine.com/369588/f-150-lightning-motortrends-truck-of-year

RepairSmith acquisition boosts its offerings and opens up new customer opportunities.

https://www.fi-magazine.com/369585/autonation-picks-up-mobile-repair-service

The U.S. Energy Department finalized a $2.5 billion loan to a joint venture of General Motors Co. and LG Energy Solution for three lithium-ion battery cell manufacturing facilities.

https://www.fi-magazine.com/369578/u-s-energy-department-finalizes-loan-for-gm-battery-venture

The automaker plans to adjust its electric vehicle strategy and provide it to key suppliers early next year, report people close to the project.

https://www.fi-magazine.com/369577/toyota-to-adjust-ev-strategy

Most reporting carmakers have supply days in the double digits.

https://www.fi-magazine.com/369575/inventory-rises-again-in-november

Dealerships trade hands in four states.

https://www.fi-magazine.com/369573/dealerships-trade-hands-in-four-states-1

CDK score reflects progress as inventories rise, but still room for improvement.

https://www.fi-magazine.com/369567/ease-of-purchase-survey-shows-november-upticks