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The automotive industry generates billions of dollars every year. In 2016, total new vehicle sales exceeded $995 billion. This includes both privately-owned dealerships, as well as, franchised dealerships. However, the majority of automotive companies are a car dealership franchise.
There are few businesses as unique as running a car dealership, whether you sell used cars or buy a new car franchise. For some people, the challenge of being at the helm—or at the top of a region chain, with many stores under the umbrella—is irresistible.
If you are cool with starting a car dealership franchise in the United States of America, here are some of the best franchises you can choose from. 2 Best Car Dealership Franchise Opportunities for Sale and Their Cost. Dealer Specialties Int’l. Inc. Mike Nenni came up with the idea for Dealer Specialties while working as a dealership sales ...
Car dealer and auto parts franchising opportunities are some of the most up and coming business niches available today. According to a recent ADP report, auto parts and dealers were second only to restaurants as the top job creating franchises in the nation.
There are used car dealers known as independent dealers as well as independent franchise dealers. Independent franchise dealers would be, for example, your Chevrolet dealer that sells used Fords, Audis, and Hyundais on their lots. They are still franchised new car dealers but they are selling products not related to their franchises.
Automotive franchises cover a range of car-related services, including car product retail, repair services, valeting services, car washes, and car sale and rental businesses. Most franchises within the automotive industry are part of the automotive aftermarket industry, referring to products and services purchased after the sale of an automobile.
Group 1 Automotive, Inc. () is an international Fortune 500 automotive retailer with automotive dealerships and collision centers in the United States, United Kingdom and Brazil. Group 1 sells new and used cars and light trucks, arranges financial services, provides maintenance and repair services, and sells vehicle parts. The company is led by former Ford Motor Company executives, CEO Earl J. Hesterberg and CFO John C. Rickel. The company executives are SVP Peter C. DeLongchamps, SVP Darryl M. Burman, SVP Frank Grese Jr., and President of US Operations Daryl A. Kenningham
A certified pre-owned car or CPO is a type of used car. Most often late-model, they differ from other used cars by having been inspected, refurbished, and certified by a manufacturer or other certifying authority. They also typically include an extended warranty, special financing, and additional benefits. Luxury marques Lexus and Mercedes-Benz were among the first to create CPO programs in the 1990s. There are variations as to what is termed certified pre-owned, so the distinctions are important. Manufacturer (or "factory") CPO vehicles are only sold at authorized dealers specializing in that particular franchise. Factory CPO cars are generally five years old or newer and have less than 80,000 miles. They often cost more than vehicles certified by independent authorities, and are higher priced than a non-certified used vehicle. Independent programs can represent good value and an alternative to an OEM program. Independents may hold a vehicle to a higher standard than an OEM, or may be less stringent in their inspections. Independents include brands such as the National Vehicle Certification Program (or "NVCP"), Carmark, and others. Dealer-certified programs represent a third category, as they are often promoted as Certified Pre-Owned. These vehicles generally have not been inspected by anyone outside the dealership, but do typically carry a warranty or extended service contract to provide some protection to the consumer. With any certified pre-owned program, who does the actual inspection and reconditioning repairs may be significant. Both OEM and dealer-certified program vehicles are typically inspected by employees of the selling dealer—not by the manufacturer as may be assumed. Independents may employ a disinterested third-party inspector to ensure objectivity, or may allow the dealer to inspect their own vehicles. Because warranties, vehicle inspection points, and other program components will vary, prospective buyers would be wise to decide what defines CPO for themselves, by comparing the programs to determine what best represents their needs and expectations. Used vehicle certification is the process of certifying to a warranty company that the vehicle has no issues. This has been a process car dealerships have done for almost 50 years. In the 1990s manufactures began using the term "certified vehicle" in advertising. The warranties attached to a certified car are the same extended warranties dealers have offered customers in the finance office at time of sale. Penetration percentages were low so the end buyer was taken out of the decision making process and the warranty was sold from the service department to the used car department via the "used car check out or certification".
Assembly line at Hyundai Motor Company car factory in Ulsan, South Korea The automotive industry in South Korea is the sixth-largest in the world measured by automobile unit production and the fifth-largest by automobile export volume. While its initial operations were merely the assembling of parts imported from foreign companies, South Korea is today among the most advanced automobile-producing countries in the world. Annual domestic output first exceeded one million units in 1988. In the 1990s, the industry manufactured numerous in-house models, demonstrating not only its capabilities in terms of design, performance, and technology, but also signalling its coming of age.