Ray Skillman planning to relocate west-side Indy dealerships to Whitestown
Indianapolis-based Ray Skillman Auto Group has submitted plans to the town of Whitestown to build its first car dealerships in the northern suburbs.
Auto Dealers
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Hubler Automotive Group acquires Beck Toyota dealership
The Beck dealership began selling vehicles near the intersection of U.S. 31 South and Stop 11 Road in 1986.
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Tom Wood plans new Porsche dealership by former HHGregg HQ
The modernized showroom and service center, which would replace the company’s existing Porsche facility nearby on East 96th Street, would occupy an outlot that formerly was home to a Steak ‘n Shake.
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Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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Camping World to acquire Mount Comfort RV in Greenfield
Mount Comfort RV, which primarily sells Forest River, Coachmen, Tiffin, Newmar, and Winnebago products, is one of the largest RV dealerships in the state.
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Articles
Automakers want to start banks, hoping to benefit from lighter-touch rules
In addition to the three U.S. carmakers, several other nonfinancial businesses are interested in seeking regulatory permission to launch their own banks.
Auto dealership settlements bring hundreds of thousands of dollars in restitution
Indiana Attorney General Todd Rokita’s office reached settlements with dealers in Indianapolis, Warsaw and Boone and LaGrange counties.
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
Across the industry, auto analysts say, an “affordability shift” is taking root. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price.
Graham Rahal Performance sued over $1.2M limited-edition vehicle
The suit claims Indianapolis-based Graham Rahal entered into a purchase agreement with the plaintiff but failed to deliver the vehicle.
Q&A with Graham Rahal: Race car driver is moving full speed ahead in business
How does someone who’s still on the racing circuit keep so many plates spinning? And why did he put this high-end automotive wonderland in Zionsville? Rahal addresses those and other questions.
Automakers hit ‘significant storm’ as buyers reject lofty prices at time of huge capital outlays
Each auto company has unique problems, but common to many are growing stockpiles of pricey vehicles on dealer lots, requiring increased discounts to sell them to buyers with stressed-out household budgets.
Honest Abe Auto Sales to pay customer restitution in deceptive advertising settlement
The Indiana attorney general’s office said Sycamore Cos., which operates four used car dealerships under the Honest Abe name, deceived customers about the true cost of financing a vehicle purchase.
AutoNation warns cyberattack put big dent in quarterly profit
AutoNation said that certain ancillary services are still limited or unavailable, including those that help automate ordering, scheduling, payment and reporting processes.
New-vehicle sales barely rose in second quarter as buyers balked at still-high prices
Sales were crimped in late June, when cyberattacks knocked out software from CDK Global that dealerships use to do sales paperwork.
Hacked firm says all auto dealers should be live again by July 4
CDK suffered two cyberattacks that forced its systems offline for days, slowing down everything from scheduling, service repairs, parts deliveries and car purchases at auto dealerships in both the U.S. and Canada.
Car dealerships in North America revert to pens and paper after cyberattacks
CDK Global, a company that provides software for thousands of auto dealers in the U.S. and Canada, was hit by back-to-back cyberattacks Wednesday. That led to an outage that has continued to impact operations.
Car dealerships disrupted by a multi-day outage after cyberattacks on software supplier
For prospective car buyers, that may mean delays at dealerships or vehicle orders written up by hand, with no immediate end in sight.
Car dealers press Biden to ease U.S. electric vehicle mandates
A group of 3,700 auto dealers is calling on the Biden administration to pull back on federal regulations that will mandate that two out of every three vehicles sold in the United States in 2032 will be battery electric.
Amazon to allow customers to buy cars on its site from local car dealers
The announcement on Thursday shows Amazon’s ambitions to grow its footprint through dealers in an industry that has strong lobbying forces and heavy state regulations.
Automakers likely to raise prices in wake of UAW strikes
General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.
Indianapolis tech startup Overfuel acquires competitor
Overfuel, which launched last year, recently acquired a Washington-state-based competitor, 321 Ignition. Both companies offer a platform on which independent auto dealers can build their websites.
Looking for a new car under $20,000? Your choice has dwindled to one.
Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000. Now, that choice is down to a single vehicle.
Car buyers bear heavy burden as Federal Reserve keeps raising rates
A study by the New York Federal Reserve has found that 14% of applicants for auto loans were rejected over the past year—the highest such proportion since the New York Fed began tracking the figure in 2013.
Carvana debt comes due with business ‘firmly in retreat’
The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana’s stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.