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As the first quarter of 2020 has come to a close, the National Automobile Dealers Association issued an analysis of U.S. auto sales and the economy, including the initial impact of the COVID-19 pandemic on both.
The NADA Retirement Program from Empower will waive fees on all new retirement plan loans and hardship withdrawals to support dealerships and their employees’ financial needs resulting from the COVID-19 outbreak.
The Washington Area New Automobile Dealers Association made a $50,000 donation today to MedStar Georgetown University Hospital, to help support its work screening and treating patients during the COVID-19 pandemic.
Executives say F&I product providers and administrators are playing a critical role in keeping agents, dealers and consumers in business and on the road while joining the fight against the global pandemic.
Even as they are operating in a challenging environment where customers and employees are staying home and the rules of operation change every day, auto dealers across the country are pitching in and doing their best to help their communities weather the pandemic.
Leading fixed ops solution to provide dealers multiple key features at no additional charge.
America’s auto dealerships continue to work through the challenges of operating during the coronavirus pandemic. Service departments, personal transportation are still important in countries where a nationwide lockdown has been implemented.
Customer retention takes spotlight as 1.8 million auto leases mature between March and July.
Average new-vehicle prices up nearly 3% year-over-year in March 2020, despite COVID-19 impact on the economy, according to Kelley Blue Book.
Crisis triggers a 47.9% decline from 52-week high in December; Kerrigan Advisors release additional insights into automotive retail ramifications.
As more stay-at-home orders go into effect and dealership sales departments are required to close, the buying activity on the lanes has decreased and so have the prices according to this week’s Used Car Market Insights report from Black Book and Laura Wehunt, Vice President, Automotive Valuations.
NADA has launched a new section of its website, the NADA Coronavirus Hub, for local dealerships looking for information on NADA’s government advocacy, regulatory compliance, educational resources, webinars and government resources related to the COVID-19 pandemic.
The CARES Act provides $2 trillion of stimulus to individuals, businesses, and hospitals and other impacted industries in response to the economic distress caused by the pandemic.
Most people are drawn to a lease because of the options they have at the end of the lease. But leasing does involve some obligations. F&I trainer John Tabar says it's those responsibilities that represent an opportunity for producers to increase product enrollment on lease deals.
APCO Holdings announced they will begin providing free access to digital retailing tools and online training courses designed to help dealers as the coronavirus crisis impacts normal business operations.
More than 160 dealers, agents, and industry executives took part in the inaugural West Coast Compliance Summit, one of three concurrent events featured at Industry Summit 2016. And more than 80 of them successfully completed the event’s compliance certification component.
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