Saturn’s loss, Byrider’s gain
J.D. Byrider, the Indianapolis chain of used-car lots, is courting Saturn dealers to come into the fold as Byrider franchisees.
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Kokomo plants benefit from ‘clunkers’ program
The federal government’s popular Cash for Clunkers program that ended Monday gave a boost to Kokomo’s Chrysler
plants.
Clunkers program a jolt for car sales, not a fix
Now comes the hard part for the auto industry – luring customers without big Cash for Clunkers discounts.
Purdue prof: ‘Clunkers’ could stall retail sales
The federal ‘Cash for Clunkers’ program has opened a floodgate of car sales that President Obama says is a much-needed
boost for the economy. But retailers may feel the negative effects of America’s collective investment in new cars, predicts
a Purdue Retail Institute researcher.
House bill aims to restore GM, Chrysler dealers
Palmer Chrysler Jeep Dodge on the west side closed last month as part of Chrysler LLC’s bankruptcy reorganization. But
the dealership would sell the company’s cars once more given the chance.
Vacant dealerships join already rocky real estate market
The owners of car dealerships slated for closure by Chrysler and General Motors face a tough environment for unloading their
real estate, but an expected onslaught of such properties has at least one company preparing to grab a slice of the business.
Auto sellers want refuge from industry fallout, but trio of bills have fallen flat at Statehouse
Car dealers fearful of losing their flagship brands if auto manufacturers crash and burn aren’t getting much help from the
Indiana General Assembly.
City government should shop locally
Good luck getting people to buy from local vendors or manufacturers.
Indian truck maker Mahindra making inroads at local dealers
Indianapolis Ford dealers John Pearson and Ray Skillman will be among the 300 domestic dealers
of Mahindra trucks and SUVs when the company makes its U.S. passenger car debut as early as next summer.
Worst auto market in 30 years might force consolidation
New car dealers, usually among the most resilient of all small businesses in weathering economic downturns, are hanging on
for dear life this time around, portending a shakeout among Indiana’s 520 dealers.
Automotive Finance Corp. writes off $162 million, reflecting slow auto sales
Slowing auto sales have forced Carmel-based Automotive Finance Corp., which lends money to car dealers to buy used vehicles
at auction, to take a big write-off on the declining value of its loan portfolio.
Dreyer & Reinbold adds Maserati luxury line
In the midst of one of the worst financial markets in decades, Dennis Reinbold has launched Maserati of Indianapolis at his
Dreyer & Reinbold BMW Infiniti-Mini complex on the north side.
High fuel prices take toll on resale values for trucks, SUVs
As motorists rush to buy antacid pills with each $4.25-a-gallon fill-up, the same car dealers who got pudgy five years ago selling SUVs with $6,000 profit margins are scrambling to profit from Aveos or anything else with decent mileage.
Three failed businesses sink former Carson foe Dickerson
Former car dealer and congressional candidate Eric Dickerson has filed for personal bankruptcy after three failed businesses
left him saddled with more than $1 million in debt. Dickerson says he is virtually broke save for a $101,000 inheritance he
is set to receive from the estate of his late mother.
Business leaders battle over real estate left behind by Payton Wells
The Malibus and Impalas disappeared from Payton Wells Chevrolet more than 18 months ago, but the controversy over the defunct
dealership at 1510 N. Meridian St. is far from being in the rearview mirror for some of the city’s top businesspeople and
developers. A court battle over the dealership’s properties could determine when and how the roughly six acres of prime land
are redeveloped.
Car makers turn up pressure for bigger, but fewer, stores
Domestic automakers were already scheming about new ways to chop dealers–cutting costs to service them–as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
Dealer Services Corp. has rival Adesa taking notice
Dealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
Car dealers to offer license plates
Hoosiers wanting to avoid the hassle of waiting in line at the BMV will soon have an option, but will have to pay about $20
to use it. The Indiana Bureau of Motor Vehicles is launching a project to allow automobile dealers across the state to provide
title and license-plate registrations.
Local software maker teams with Microsoft
Autobase Inc. has inked a partnership with tech heavyweight Microsoft Corp. that might fuel growth for the Indianapolis-based
marketing-software maker. The deal will allow Autobase to piggyback its software on Microsoft’s as the Seattle company launches
products aimed at auto dealers.
$1.7M invested in failed firm not authorized, sources say
Trade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million they loaned to a local debt-collection agency–loans that sources said were made without the knowledge of the groups’ boards or membership.