Dealer Groups and Dealerships

TrueCar inks partner deal with Sam's Club

3:01 pm U.S. ET | Sept. 3, 2015

TrueCar gained a key ally today with the announcement that it will partner with Sam's Club to offer members access to a new-car buying program. The Auto Buying Program will allow Sam's Club -- a membership-only warehouse division of Wal-Mart Stores Inc. -- to offer targeted savings through TrueCar on specific brands.... Read More »

Average used-vehicle price slips below $10,000

12:01 am U.S. ET | Aug. 31, 2015

The average wholesale used-vehicle price dips below $10,000 in July but demand for used vehicles, especially CPO, buoy prices compared to last year, according to ADESA.... Read More »

Calif. dealers call Tesla referral deal illegal

1:11 pm U.S. ET | Aug. 28, 2015

A new referral program from Tesla Motors that offers discounts to buyers referred by a Tesla owner is drawing complaints from dealers in the electric-car manufacturer’s home state of California.... Read More »

Loan terms for used vehicles grow as inventory becomes 'younger, pricier'

1:45 pm U.S. ET | Aug. 26, 2015

Loan terms on used cars and light trucks are ticking up as those vehicles, on average, become “younger and pricier,” according to Edmunds.com. The average loan term on a used vehicle stretched to 66.2 months in the second quarter, up 1.1 month from the year-earlier period. At the same time, the average transaction price rose 7.6 percent to $18,800, the company says in a new report.... Read More »

Edmunds tool speeds price data

12:01 am U.S. ET | Aug. 24, 2015

Edmunds.com has launched a tool that it says will increase the transparency of car-buying.... Read More »

Cox working way toward broader role in auto retail

12:01 am U.S. ET | Aug. 24, 2015

Cox Automotive, parent of Autotrader.com, Kelley Blue Book and other well-known brands, wants to cross-pollinate its units' tools. In doing so, Cox, along with other so-called third-party vendors, is seeking to navigate its way to a larger role in auto retailing. But missteps in doing so can easily alienate those vendors' dealer partners, as Cox discovered recently.... Read More »

Market slump casts shadow over how U.S. sales will finish August

2:45 pm U.S. ET | Aug. 24, 2015

Slumping stock markets could make it tough for dealerships to hit their August targets for U.S. new-vehicle sales, rattling consumers who might be on the fence about making a big purchase. The broad declines in U.S. equity markets also pushed shares of General Motors and Ford to 52-week lows Monday before rebounding.... Read More »

AutoCanada acquires Chevrolet dealership in B.C.

7:30 am U.S. ET | Aug. 24, 2015

AutoCanada, one of Canada's biggest dealership groups, received approval from GM to purchase an 80 percent stake in Don Folk Chevrolet, a dealership in Kelowna, British Columbia.... Read More »

Getting behind the gap in public, private dealership profits

12:01 am U.S. ET | Aug. 24, 2015

Publicly traded dealership groups' reported first-half profits were much higher than what private dealerships reported to the National Automobile Dealers Association. Here's why.... Read More »

AutoNation bets on FCA, smaller markets

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

AutoNation is on pace for its biggest acquisition year since 1999, and CEO Mike Jackson expects to make at least one more dealership purchase this year. Deals announced last week will give AutoNation more Fiat Chrysler stores and more locations in smaller markets.... Read More »

Dealertrack to sell inventory-management business to clear way for Cox merger

9:15 am U.S. ET | Aug. 20, 2015

Dealertrack Technologies has moved to clear a regulatory impediment to its merger with Cox Automotive by agreeing to sell its inventory-management software business to DealerSocket for $55 million in cash.... Read More »

Edmunds launches faster way to show buyers if price is right

1:18 pm U.S. ET | Aug. 19, 2015

Edmunds.com has launched a new tool that it says will bring more transparency to the car-buying process. Edmunds Express, launched this week, allows the 13,000 U.S. franchised dealers who use Edmunds' products to tap the third-party site to verify to their customer that the vehicle they're considering is fairly priced.... Read More »

AutoNation adds 16 stores, makes biggest purchase since 2001

8:15 am U.S. ET | Aug. 18, 2015

AutoNation, the largest U.S. dealership group, has agreed to buy 16 stores representing more than $600 million in annual revenue, including its biggest single dealership purchase since 2001.... Read More »

FCA takes guesswork out of dealers' weighty decisions

6:00 pm U.S. ET | Aug. 16, 2015

Fiat Chrysler is introducing an online analyzer that allows dealers to forecast potential returns from expanding their service operations.... Read More »

Henrik Fisker designs exotic convertible for Galpin

6:57 am U.S. ET | Aug. 16, 2015

Luxury designer Henrik Fisker has created a convertible variation of the Ford GT Mustang to be sold by Galpin Auto Sports of Los Angeles.... Read More »

TrueCar says it considers U.S. antitrust probe to be closed

2:01 pm U.S. ET | Aug. 12, 2015

U.S. antitrust enforcers have closed an investigation into whether auto dealers ganged up against shopping website TrueCar Inc in 2011 and 2012 in order to raise prices, TrueCar said in a securities filing today.... Read More »

CDK Global exploring sale to private equity firms, report says

4:52 pm U.S. ET | Aug. 11, 2015

CDK Global, one of the two dominant providers of dealer management system software used by auto retailers to help run their stores, is meeting with private equity firms to gauge their interest in buying the company, people with knowledge of the matter told Bloomberg.... Read More »

NEWS ANALYSIS

Picking up the pieces at TrueCar

12:01 am U.S. ET | Aug. 9, 2015

The comeback Scott Painter sought to engineer at TrueCar after a dealer revolt and near meltdown in 2012 now looks incomplete, and the company faces the burden of reinventing itself yet again.... Read More »

TrueCar CEO Scott Painter to step down by year end

4:11 pm U.S. ET | Aug. 6, 2015

Scott Painter, founder of the online car-shopping site TrueCar, is stepping down as CEO of the company this year. TrueCar said a successor is expected to take office by year end. Painter, 46, will remain chairman of the company's board of directors.... Read More »

Average loan term rises slightly to 68.1 months in July

12:45 pm U.S. ET | Aug. 5, 2015

The average new-vehicle loan term reached 68.1 months in July, up slightly from 66.99 months a year earlier, Edmunds data show. The average APR on a new-vehicle loan in July was 4.4 percent, the lowest average for a single month since September 2014.... Read More »

AutoNation U.S. sales rise 9% in July

1:55 pm U.S. ET | Aug. 4, 2015

AutoNation's U.S. new-vehicle retail sales grew by 9 percent from the year earlier to 29,875 in July, making it the company's best July since 2006.... Read More »

ADESA’s Q2 income, revenue rise

2:28 pm U.S. ET | Aug. 4, 2015

KAR Auction Services, parent company of ADESA, today said its second-quarter net income rose 17 percent to $59.5 million on revenue that increased 12 percent to $658.3 million.... Read More »

LETTER TO THE EDITOR

TrueCar raises dealers' selling costs

12:01 am U.S. ET | Aug. 3, 2015

TrueCar wants to leach money from dealerships by trying to create an unnecessary third-party intermediary in the purchase process. All it does is raise the selling costs of participating dealers.... Read More »

JULY U.S. SALES

Sales rise 5.3% on hardy crossover, truck volume

8:30 am U.S. ET | Aug. 3, 2015

U.S. light-vehicles sales -- fueled by healthy truck demand and gains at most major automakers -- rose 5.3 percent in July, helping the industry begin the second half of 2015 on a strong note. Ford Motor Co., Nissan Motor Co., Honda Motor Co., GM, Fiat Chrysler and Hyundai-Kia all had gains between 5 percent and 8 percent while Subaru scored its sixth double-digit advance of the year.... Read More »

AutoNation's online pilots edge forward

12:01 am U.S. ET | Aug. 3, 2015

AutoNation Inc. says the rollout of AutoNation Express, its online car-selling platform, is ahead of schedule. But the retailer has slowed two key elements of the platform.... Read More »

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