close-out dealers

MADISON, Wis. (WMTV) - The Wisconsin Dept. of Transportation revoked the licenses from more than 100 wholesale car dealers – all of which are based out of a single location in Arlington.The 129 companies (listed below) made up only about an eighth of the nearly 1,000 wholesale dealers located at a facility in Arlington, located at 101 Skyline Drive #1 W814, the agency noted.Each of the dealers who lost their licenses was accused of failing to maintain business facilities and for not making records available, per state law, according to WisDOT. Wholesale dealers are prohibited from selling vehicles to the public at large and must only conduct transactions with other dealers.In its statement, agency officials explained the vast majority of wholesale dealers in Wisconsin work out of centraliz...

Under current law, the Treasury Department can offer relief in these situations if inventory falls due to an embargo, boycott or other “major foreign trade interruption.” Typically the relief would allow three years for businesses to build their inventory back up and decide what portion of goods to attribute to each tax year. In effect, that would allow car dealerships to catch up on their inventory purchases and avoid a bigger tax bill once supply improves.But Treasury thus far has declined the industry's plea, despite backing from Kildee and more than 90 fellow lawmakers in a November letter. Treasury determined they don't have that authority under current law, according to Kildee and the National Automobile Dealers Association, an industry trade group that's pressing for relief. A spoke...

Many factors separate Tesla’s business from other automakers, and its direct-sale model is one of the biggest – and probably the one that other automakers are most jealous of. Tesla operates all of its stores, service, and delivery centers. It doesn’t use the third-party franchise dealership model. This has a tremendous and obvious impact on its distribution and service organization, but it also has a lesser-known impact on how it manages used cars. Operating its own dealership gives the automaker strong control over its used vehicles as owners upgrade or vehicles come off leases. Tesla’s used car business is now so big that Jimmy Douglas, director of sales and delivery operations at Tesla, claims it is “as big as some publicly traded used car retailers”: Most people...

Ford’s Mach-E page on its website now features the following notice for all Mach-E models, and Electrek confirmed the message intent with a Ford spokesperson: Due to high demand, the current model year is no longer available for retail order. Limited inventory may be available at selected dealers. Contact your dealer for more information. So if you were hoping to get your hands on a 2022 Mach-E, you’ll have to either try your luck with dealers and hope there’s one on the lot, or wait for the 2023 models. (And keep an eye out for inflated prices, because even though Ford isn’t OK with its dealers doing that, it will continue to happen.) In March, Ford stopped taking orders for the Mach-E Premium and California Route 1 models. Ford has had production challenges due to a se...

Photo: Bill Pugliano (Getty Images)Ford wants to do things differently as it expands into the EV business. It’s spinning electric cars into their own sub-brand, untethered from the time-honored tradition of dealers asking “What can I do to get you in this car today?” Months after that news first came out, CEO Jim Farley is doubling down. In a speech today, the executive confirmed that under his new plan, dealerships would get rid of inventory entirely and become high-quality service centers for customers who purchased their vehicles online.In a presentation at Bernstein’s 38th Annual Strategic Decisions Conference, an event that is apparently real and not an Arrested Development plot point, Farley confirmed that Ford intends to sell EVs entirely online, with no-haggle pricing. Dealer lots ...

Photo: Bill Pugliano (Getty Images)Ford wants to do things differently as it expands into the EV business. It’s spinning electric cars into their own sub-brand, untethered from the time-honored tradition of dealers asking “What can I do to get you in this car today?” Months after that news first came out, CEO Jim Farley is doubling down. In a speech today, the executive confirmed that under his new plan, dealerships would get rid of inventory entirely and become high-quality service centers for customers who purchased their vehicles online.In a presentation at Bernstein’s 38th Annual Strategic Decisions Conference, an event that is apparently real and not an Arrested Development plot point, Farley confirmed that Ford intends to sell EVs entirely online, with no-haggle pricing. Dealer lots ...

Newsday Llc | Newsday | Getty ImagesIn pre-pandemic years, Labor Day sales events offered generous discounts on new cars as dealerships aimed to clear out current-year models and start selling the next year's versions.These days? Not so much.The average new-car discount offered by manufacturers is down an estimated 47.1% from a year ago to $969, according to a recent forecast from J.D. Power and LMC Automotive. August marked the fourth consecutive month of incentives trending below $1,000.More from Personal Finance:Here's how to combat inflation with Labor Day deals50% of employers expect job cuts, survey findsAmericans spend $314 a month on impulse purchasesAt the same time, the average price for a new car reached an estimated $46,259 in August — 11.5% higher than a year ago and the highe...