Dealers: Your Vote Matters
Jason Courter has a special message for dealers on the importance of voting in this election. Watch it and explore the resources AIADA has available to help you make an informed choice at the polls. Then, please share it with your colleagues and employees. Vote. Because your voice matters.
Dealers Recognized for Leadership During 'Unprecedented Times'
Ally says auto dealers “play a vital role in the economic fabric of the country.” But, reports Auto Remarketing, this year’s TIME Dealer of the Year Award celebrates dealers’ “ingenuity and leadership in the face of incredible challenges,” because of the COVID-19 pandemic, Ally Auto Finance president Doug Timmerman said in a news release. Ally and TIME on Friday nominated 40 auto dealers for the annual TIME Dealer of the Year Award, which they described as “the most prestigious award in the automotive dealer industry.” The companies recognized the nominees for 2021 based on leadership in navigating their businesses and supporting their local communities during “unprecedented times.” Nominees include incoming Chairman Steve Gates of Kentucky, as well as fellow AIADA board member Chris Hemmersmeier of Utah. Dealers nominated for the award were chosen from nearly 17,000 franchised dealers across the country. The dealers, who Ally says have shown “strong business acumen and steadfast commitment to their communities,” will be recognized during NADA Show, which runs online Feb. 9-11. Read more here (Source: Auto Remarketing).
Nissan, Lexus Defend Top Spots in 2020 Reputation.com Study
The Nissan brand scored at the top among non-luxury brands in the 2020 Automotive Reputation Report. Subaru, Toyota, Ford, and Mini rounded out the top five for 2020, the second year for the report. According to Automotive News, Reputation.com ranks 18,000 automotive brands and dealerships in the U.S. on a scale of 0 to 1,000 based on visibility, sentiment and engagement. The scores are measured using online data reviews, listings, search results, social media and customer engagement on Google, Facebook, Cars.com, and Edmunds. The Nissan brand finished with a reputation score of 681 compared with 672 in 2019. Mazda took the last-place spot, with 25 fewer points than last year at 548, replacing Mitsubishi on the bottom of the non-luxury list. Lexus was the highest-ranking luxury brand in the U.S. with a 673 score, up one point from 2019. Read more here (Source: Automotive News).
Jaguar Land Rover Parent Posts Wider Loss on COVID-19 Hit
India’s Tata Motors Ltd posted a wider loss for the September quarter on Tuesday as the COVID-19 pandemic sapped demand in several of its key markets, reports Reuters. The global health crisis has hammered sales for automakers worldwide and compounded problems for Tata Motors, which was trying to improve Jaguar Land Rover sales amid weak demand and uncertainty related to Brexit. Tata Motors reported a consolidated net loss of 3.14 billion rupees ($42.47 million) for the second quarter ended Sept. 30, compared with a loss of 2.17 billion rupees a year earlier. Retail unit sales at luxury car unit JLR, which rakes in most of the company’s revenue, was down nearly 12% for the reported quarter. Tata Motors, however, said it expects JLR sales to gradually improve. Read more here (Source: Reuters).
Prosecutors End Probe Into Former VW CEO Winterkorn
German prosecutors ended a query into the role played by former VW Group CEO Martin Winterkorn in the diesel emissions scandal, reports The Detroit Bureau. German prosecutors in Stuttgart are dropping an investigation into former Volkswagen CEO Martin Winterkorn and any role he may have played in manipulating the market by covering up the automaker’s emission’s scandal. Winterkorn was being investigated for possibly delaying the release of the information about the emissions cheating software used to beat U.S. emissions testing for diesels. Officials elected to shut down the query because a criminal investigation in the city of Braunschweig is ongoing and would levy stiffer penalties against the former CEO, who resigned in 2015, if he’s found guilty of the criminal charges, Reuters reported. Winterkorn, through an attorney, maintains he’s innocent, which he has done from the outset. Read more here (Source: The Detroit Bureau).
Join Today's AutoTalk Webinar: Used Car Super Session
Join the next AutoTalk TODAY, October 27 at 2 p.m. EDT, where a panel will cover wholesale pricing and volume outlooks, as well as some best practices to stay ahead of the curve. Tune in to hear what some of the most successful dealer groups are doing to meet the shortage of used cars.
Guests will include:
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Tom Kontos, Chief Economist, KAR Global: To provide real-time wholesale pricing and volumes through the various auction channels, and outlook for the remainder of the year.
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Bob Grill, Senior Partner Development Manager at Carfax and Mike Rossman, Automotive Consultant: Will share some innovative and contemporary best practices to address the current used car sourcing challenges.
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