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April 20, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
US Retail Sales Fell in March, Second Straight Monthly Drop
Bank Programs Could Alter Dealership-Customer Relations
Import Stores Outpace Domestics in F&I as Share of New Revenues
Why Buick Expects to Sell More Than 1.4 Million Vehicles This Year
Former U.S. Deputy Attorney General to be Named VW Monitor, Report Says
Charge Me Up: Rural Electric Drivers Face ‘Range Anxiety’
Top Stories
US Retail Sales Fell in March, Second Straight Monthly Drop

Americans pulled back on their spending at auto dealers and restaurants in March, causing retail sales to drop despite signs of a healthy job market. Retail sales fell a seasonally adjusted 0.2 percent, the Commerce Department said [last week], after a revised 0.3 percent drop in February. But over the past 12 months, retail sales have risen 5.2 percent, a sign that that the economy remains on stable footing.
Source: Associated Press

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Bank Programs Could Alter Dealership-Customer Relations

Next month, Bank of America will unveil a direct-to-consumer lending platform that shows dealerships’ inventories to BoA’s customers through the lender’s website. Chase Auto Finance rolled out a similar program last year. The programs will likely give dealerships more leads, but could programs such as these hurt dealerships in the long run?
Source: Automotive News

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Import Stores Outpace Domestics in F&I as Share of New Revenues

Import-brand dealerships outpaced their domestic-brand rivals in finance and insurance income as a percentage of total new-vehicle department revenue, a National Automobile Dealers Association report found. And the gap is widening.
Source: Automotive News

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Why Buick Expects to Sell More Than 1.4 Million Vehicles This Year

Buick is aiming for its fifth consecutive year of record sales for the brand on the back of expected sales gains from the new SUVs and cars it is introducing in the U.S. and China. Buick sold more than 1.44 million vehicles worldwide in 2016 — its third consecutive year of record sales for the brand. China now accounts for more than 82% of Buick's global total sales — or five times as much as its sells in the U.S.
Source: Detroit Free Press

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Former U.S. Deputy Attorney General to be Named VW Monitor, Report Says

The Justice Department is expected to name a deputy attorney general under former President George W. Bush to serve as independent monitor of Volkswagen AG under a plea agreement over its diesel emissions violations, a source briefed on the matter said on Wednesday. Larry Thompson, a lawyer at Finch McCranie who was deputy attorney general from 2001-03, is expected to be tapped to oversee the world's largest automaker for three years.
Source: Reuters

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Charge Me Up: Rural Electric Drivers Face ‘Range Anxiety’

More than 600,000 electric vehicles are on the road in the U.S. and Canada (including models with gas engines), according to the ChargePoint network. Charging stations are unevenly distributed, with concentrations in California and populous portions of the East Coast. But backcountry electric vehicle drives are getting easier every year with more stations and better batteries.
Source: Associated Press

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Quotable
"... with this plethora of new vehicles we've got expectations and ambitions to grow in the U.S. and North America. We will be looking for another record this year."

    -- Duncan Aldred, vice president of Buick and GMC for General Motors, commenting on expectations for Buick sales worldwide, Detroit Free Press, April 19

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