Dealers

Group 1 buys U.K. dealership group, sells 3 U.S. stores

4:30 pm U.S. ET | Feb. 5, 2016

Group 1 Automotive has acquired the Spire Automotive Group of 12 dealerships in the Greater London area. It also has divested three dealerships in the U.S.... Read More »

Margin squeeze hurts used-vehicle prices, economist says

1:03 pm U.S. ET | Feb. 5, 2016

The Manheim Used Vehicle Value Index dipped in January, registering only its second decline in the last eight months.... Read More »

Asbury income, revenues up in Q4; vehicle margins down

11:20 am U.S. ET | Feb. 4, 2016

Asbury Automotive Group said net income soared to $41.1 million in the fourth quarter of 2015 as revenues rose 9.1 percent to $1.64 billion.... Read More »

Honda warns dealerships of liability as it widens airbag recall

12:15 pm U.S. ET | Feb. 3, 2016

American Honda has expanded its Takata airbag recalls by more than 2 million vehicles and warned dealers that they could face legal exposure for unrepaired vehicles if they violate a related stop-sale order for the affected cars.... Read More »

N.Y. dealer: We sold credit repair product 'we didn't realize was illegal'

11:00 am U.S. ET | Feb. 3, 2016

A dealership exec whose stores came under fire from the New York attorney general's office for illegal sales of credit repair services tells his side.... Read More »

HANNAH LUTZ

BLOG: F&I product add positions Cox for growth

11:45 am U.S. ET | Feb. 3, 2016

By offering F&I products to its dealers, Cox Automotive is setting itself up for growth.... Read More »

Cox Automotive siblings to offer F&I products

11:00 am U.S. ET | Feb. 3, 2016

Cox Automotive's new push into the finance and insurance world aims to court smaller franchised dealership groups. Dealers who do business with NextGear Capital and GO Financial soon will be able to offer consumers an array of F&I products provided by companies owned by SilverRock Holdings.... Read More »

Ally's auto originations held flat in 2015

11:00 am U.S. ET | Feb. 3, 2016

Ally Financial's 2015 auto loan and lease originations remained flat compared with the year earlier, but that's fine with the lender's CEO. Ally made up for the loss of some General Motors business with gains elsewhere.... Read More »

Tesla applies for dealership license in Michigan

2:46 pm U.S. ET | Feb. 1, 2016

Tesla Motors has applied for a Michigan dealership license, a move the automaker said is intended to test a state law effectively banning the electric-vehicle maker's direct-sales model.... Read More »

CarMax CEO Tom Folliard to retire by end of year

10:34 am U.S. ET | Feb. 1, 2016

CarMax CEO Tom Folliard will retire by the end of the year, the used-car retailer said today. He will be succeeded by Bill Nash, the executive vice president of human resources.... Read More »

Surge in end-of-lease cars seen pressuring prices in record sales year

6:51 am U.S. ET | Feb. 1, 2016

A surge in cars and SUVs coming out of leases have analysts predicting pressure on prices of both used and new models, curbing investor enthusiasm over sales records projected for this year.... Read More »

AutoNation cuts inventory, jobs

12:01 am U.S. ET | Feb. 1, 2016

AutoNation will trim marketing costs and vehicle inventory by about 10 percent from year-end levels. It already has cut jobs in light of increased discounting, plateauing sales and declining vehicle margins, all of which trimmed its fourth-quarter earnings.... Read More »

Dealer aniversary awards

12:01 am U.S. ET | Feb. 1, 2016

Dealers featured this week include Dan Keller, president of Keller Bros. Ford in Lititz, Pa.; Jerry Spires, dealer principal of Buckeye Nissan in Hilliard, Ohio; and Junior Suttle, president of Outer Banks Chrysler-Dodge-Jeep-Ram in Kill Devil Hills, N.C.... Read More »

Balise grows with car washes

12:01 am U.S. ET | Feb. 1, 2016

Balise Auto Group has its own car washes to handle dealership needs, serve as a marketing tool to help wow car buyers and operate as a stand-alone profit center.... Read More »

Service dept. tunes up satisfaction scores

12:01 am U.S. ET | Feb. 1, 2016

Texoma Hyundai is tops in Hyundai service satisfaction scores for three years running. The dealership is a converted lumber store and has no dedicated service drive, but its staffers' rapport with customers makes all the difference.... Read More »

BEST PRACTICES

Dealership picks up on VW enthusiast vibe

12:01 am U.S. ET | Feb. 1, 2016

Smith Volkswagen launched a performance and tuning center in 2014. The staff turns stock showroom inventory into high-performance, one-of-a-kind vehicles using parts and accessories from both VW and leading aftermarket manufacturers. Then they share their projects on VWVortex.com, the online meeting place for thousands of die-hard VW enthusiasts.... Read More »

Cox Automotive acquires stake in F&I company

1:16 pm U.S. ET | Jan. 28, 2016

Cox Automotive has acquired a minority interest in SilverRock Holdings, which owns three service-contract and insurance companies. The purchase will give dealers affiliated with GO Financial and NextGear Capital the ability to offer consumers extended service contracts, GAP and other insurance, as well as vehicle-theft recovery products.... Read More »

GM, Lithia, Koons settle advertising allegations by FTC

1:38 pm U.S. ET | Jan. 28, 2016

GM and two dealership companies, Jim Koons Management and Lithia Motors, will settle allegations that they advertised cars as being carefully inspected when, in fact, they had unrepaired safety recalls, the FTC said.... Read More »

Michigan may see ballot petition to allow direct vehicle sales

5:00 pm U.S. ET | Jan. 28, 2016

A recent University of Michigan graduate who aspires to work in politics is launching a ballot petition drive to allow automakers to sell new vehicles directly to Michigan consumers.... Read More »

AMY WILSON

BLOG: Sales reporting transparency? Yeah, right

5:32 pm U.S. ET | Jan. 28, 2016

After a nearly six-year run, AutoNation will stop reporting monthly sales. Why? “I've given up,” CEO Mike Jackson says.... Read More »

AutoNation's Q4 net drops 16% on discounts, VW charge

7:45 am U.S. ET | Jan. 28, 2016

AutoNation's net income dropped 16 percent to $97.5 million in the fourth quarter, even as revenues rose 5.8 percent to $5.34 billion, the company said today. The decline was due largely to increased discounting and per-vehicle margin pressure.... Read More »

Lithia's DCH makes first acquisition

3:36 pm U.S. ET | Jan. 28, 2016

Lithia Motors completed the first purchase through its DCH Auto Group with the acquisition of Riverside Subaru in Riverside, Calif., the company said today.... Read More »

Reynolds and Reynolds provides F&I library to 20 states, looks to add

11:45 am U.S. ET | Jan. 27, 2016

Sorting through inconsistent forms and varying federal, state and even city requirements for F&I paperwork has long been a headache for auto retailers. But dealership software and service provider Reynolds and Reynolds is working to provide relief.... Read More »

Snow put damper on January U.S. sales, but demand expected to rebound

2:23 pm U.S. ET | Jan. 27, 2016

Last weekend's big snowstorm took a big bite out of January's U.S. new-vehicle sales, but analysts and dealers said they expect demand to rebound in February and March, keeping the industry on track for a second consecutive record year.... Read More »

HANNAH LUTZ

BLOG: Beware the pitfalls of digital ads

11:45 am U.S. ET | Jan. 27, 2016

The industrywide push to put much of the car buying and financing process online, including ads, is a good thing. But dealers should make sure that online ads don’t come back to haunt them.... Read More »

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