Dealer Groups and Dealerships

Toyota plots Prius comeback

12:01 am U.S. ET | April 18, 2015

As Toyota prepares to introduce a redesigned Prius later this year, both car and company are at turning points. First introduced in 1997, the hybrid is no longer the green-car darling of the Hollywood set. That sort of buzz now surrounds the EVs produced by Tesla.... Read More »

GM launches software that flags recalled vehicles on dealer lots

1:54 pm U.S. ET | April 15, 2015

General Motors is rolling out new software this month for dealerships to make it harder for them to mistakenly sell a new vehicle that's subject to a recall, without first performing the recall work as required.... Read More »

Penske targets 'I' in F&I to boost per-vehicle revenue

12:01 am U.S. ET | April 13, 2015

Penske Automotive Group Inc. is refining its training process on insurance product sales to boost overall finance and insurance revenues.... Read More »

Toyota's Costa Rica retailer expands in U.S.

12:01 am U.S. ET | April 13, 2015

Costa Rica's distributor of Toyota Group vehicles wants to own five to seven Toyota dealerships and "a couple" of Lexus stores in the U.S. within three years, its CEO said. Purdy Motor Group is not quite halfway to that goal.... Read More »

CarMax finance arm won’t become major subprime player

11:30 am U.S. ET | April 8, 2015

CarMax’s finance arm will continue its subprime lending test and might expand it in the future. But the unit won’t become a “full player” in that space, says company CEO Tom Reedy. CarMax Auto Finance will continue to originate loans under the test at its current rate of 5 percent of subprime vehicle sales or a little less than 2 percent of overall loan originations.... Read More »

VIDEO: Opting for the online auction lane

12:01 am U.S. ET | April 7, 2015

Online used-vehicle shopping is changing how dealers and auction companies operate.... Read More »

VIDEO: Manheim Pennsylvania's legacy in the lanes

12:01 am U.S. ET | April 6, 2015

Manheim Pennsylvania, the birthplace of the nation's largest auction company, celebrates 70 years in business.... Read More »

Porsche taps Cox unit to help manage off-lease portfolio

11:27 am U.S. ET | April 6, 2015

Porsche Cars North America Inc. has tapped a Cox Automotive software platform company to help it manage its off-lease portfolio.... Read More »

Buffett extends a hand to dealers -- 'If we shake hands, we've got a deal'

12:01 am U.S. ET | April 6, 2015

With the deeper pockets of Berkshire Hathaway Inc. now backing it, the former Van Tuyl Group intends to add dealerships going forward. "In the next couple of years, we're likely to make a number of acquisitions," Berkshire Hathaway Chairman Warren Buffett said last week.... Read More »

JASON STEIN

Maroone's guiding rule: Set yourself apart

12:01 am U.S. ET | April 6, 2015

Mike Maroone -- retailer, visionary and, as of last Wednesday, retired AutoNation Inc. president and COO -- once had a dream to be a college quarterback. Instead, he became one of the greatest field leaders the dealer franchise system has known.... Read More »

Oil boom slows; techs return

12:01 am U.S. ET | April 6, 2015

Oil drillers are cutting production in response to lower crude prices, meaning fewer oil jobs. Some dealers in oil-laden states such as Texas, Oklahoma, Alaska, North Dakota and California say some of the service technicians who had fled for the rich-paying oil-industry jobs a few years ago are trickling back.... Read More »

CarMax will step up store-opening pace

3:46 pm U.S. ET | April 2, 2015

CarMax said will open 13 to 16 new used-only stores each of the next three fiscal years, starting with the one that began March 1. That is up from the 10 to 15 stores a year it has opened since the recession.... Read More »

AutoNation's March sales rise 5 percent

3:54 pm U.S. ET | April 2, 2015

AutoNation today said its new-vehicle retail sales rose 5 percent in March from a year earlier to 30,107 units. On a same-store basis, new retail sales rose 3 percent.... Read More »

IHS buys digital car-shopping behavior tracker Dataium

5:19 pm U.S. ET | April 1, 2015

Data and consulting powerhouse IHS Inc. has purchased the assets of Dataium, a small company that can see shopping behavior on dealer and carmaker websites to direct and measure the performance of ad and marketing campaigns.... Read More »

Berkshire Hathaway Automotive targets growth, possibly abroad

3:00 pm U.S. ET | March 31, 2015

Berkshire Hathaway Automotive already is on the prowl to acquire more dealerships. And, top executives hinted today, that might include looking outside the US. Berkshire Hathaway closed on its purchase of Van Tuyl Group on March 9... Read More »

Ex-dealership staffers face prison

12:01 am U.S. ET | March 30, 2015

Several former sales staffers at a Birmingham, Ala., Nissan store face federal prison time as part of a federal crackdown on fraudulent practices in car dealerships.... Read More »

LETTER TO THE EDITOR

The top 10: Where the action isn't

12:01 am U.S. ET | March 30, 2015

Your roundup of the top 150 dealership groups based in the U.S. was invaluable, and I don't doubt consolidation among dealerships is moving ahead.... Read More »

Sonic to expand initiative piece by piece

12:01 am U.S. ET | March 30, 2015

Sonic Automotive Inc.'s rollout of its customer experience initiative to stores in the Charlotte, N.C., area came slower than expected, in part due to a malfunctioning website. But One Sonic-One Experience is now live at all five Sonic stores in that pilot market, and market share against local same-brand dealerships is rising at three of them.... Read More »

Leases to get more expensive, ALG says

12:01 am U.S. ET | March 28, 2015

Low-cost monthly auto leases will become more expensive over the next couple of years, predicts ALG President Larry Dominique. That's because the supply of used light vehicles -- especially those 3 to 5 years old -- returning to the market will rise significantly, lowering used-vehicle prices and residual values to prerecession levels.... Read More »

Manheim invests in vehicle inspection company

3:17 pm U.S. ET | March 27, 2015

Manheim invested in Alliance Inspection Management, a vehicle inspection and software company, and the two companies have formed a “strategic alliance” to develop inspection technologies that will lead to a more consistent inspection process.... Read More »

AutoNation, analytics company Zubie join to monitor cars' service needs

3:38 pm U.S. ET | March 27, 2015

Some AutoNation dealerships' service advisers will know which vehicles need fixing before they even talk to the driver, thanks to a new partnership with vehicle analytics company Zubie.... Read More »

Aston Martin claims Henrik Fisker's Thunderbolt is unauthorized copy

8:59 pm U.S. ET | March 26, 2015

Aston Martin said Henrik Fisker’s “Thunderbolt” prototype for a $400,000 GT coupe is an unauthorized copy of its iconic sports cars featured in James Bond movies for 50 years.... Read More »

Giant Miller group reshuffles for the buy-sell bonanza

12:01 am U.S. ET | March 23, 2015

A drastic restructuring at the nation's fourth largest private dealership group is the latest sign of changing times in the auto retail business. Eager to expand, the giant Larry H. Miller Group of Cos. last week positioned itself for a new era in which private equity and other nontraditional buyers are coming on fast.... Read More »

Penske tests Texas store's staffing program

12:01 am U.S. ET | March 23, 2015

Penske Automotive Group has been so impressed with a program started at its Toyota store in Round Rock, Texas, aimed at converting Internet leads into appointments and, ultimately, sales, that it is taking the idea to other dealerships in Texas.... Read More »

A long drive: 100-year-old still selling Chevys

12:01 am U.S. ET | March 23, 2015

Derrell Alexander has lived a century, and for most of that time, he's been on the showroom floor. The Wyoming car salesman celebrated his 100th birthday on March 17. Despite his age, "like clockwork," he reports for work at White's Mountain Motors in Casper at 8 a.m. sharp and leaves at 3 p.m. Monday through Saturday.... Read More »

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Matthew Welch may own Auburn Volkswagen, but the title he cherishes is “chief relationship officer.' Mon., April 13
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