Dealers

RFJ buys Dave Smith Auto

12:01 am U.S. ET | April 25, 2015

Fast-growing dealership group RFJ Auto Partners is expanding in the Northwest by buying Dave Smith Auto Group, which operates two of the highest-volume stores in the U.S. RFJ, backed by private equity, aims ultimately to become one of the biggest dealership groups in the country.... Read More »

JAMIE LaREAU

BLOG: Uber might trump the cost of car ownership, but not leasing…yet

12:01 am U.S. ET | April 25, 2015

Most dealers probably don’t lose sleep with worry that Uber, the popular app-based service that pairs private drivers with riders, will usurp car ownership anytime soon despite Uber’s ambitions to make it so.... Read More »

Dealerships can gain an edge with Spanish-language marketing

2:10 pm U.S. ET | April 23, 2015

Dealerships willing to advertise and post videos in Spanish face little competition reaching a growing number of Latino car buyers, said Ricky Lopez, Internet director at David Maus Toyota in Sanford, Fla.... Read More »

JESSE SNYDER

BLOG: Midsize with a four-banger or large and loaded? How auto insurance affects consumers' buying power

11:32 am U.S. ET | April 23, 2015

Want $7,700 more to spend on a new car? Move from Michigan to Maine before you insure it. That's because U.S. insurance premiums on a new vehicle vary wildly by state, according Insure.com... Read More »

Dealers missing out on digital F&I sales, study finds

11:30 am U.S. ET | April 22, 2015

Consumers want F&I product information online rather than all-at-once at the end of their vehicle purchases, a new study finds. The survey by MakeMyDeal indicates that consumers want to learn about F&I products online before entering a new-vehicle store.... Read More »

Lithia's Q1 net income soars 64% on broad gains, DCH integration

11:03 am U.S. ET | April 22, 2015

Lithia Motors' net income surged 64 percent to $41 million in the first quarter from a year earlier, on strong sales across all divisions and the continued integration of its purchase last year of DCH Auto Group, the dealership group said today.... Read More »

JIM HENRY

BLOG: Auto finance critic Warren stands firm on CFPB dealership oversight

11:15 am U.S. ET | April 22, 2015

Sen. Elizabeth Warren is once again calling for direct regulation of auto dealerships by the Consumer Financial Protection Bureau.... Read More »

Asbury, Sonic see below-average F&I revenue at new-initiative stores

11:30 am U.S. ET | April 22, 2015

Two of the nation's biggest publicly traded dealership groups said early, small-scale results from their nontraditional dealerships -- either stand-alone used-vehicle stores or ones that use techniques such as no-haggle pricing -- showed below average F&I revenue per vehicle retailed.... Read More »

Some auto lenders let others pursue volume

11:15 am U.S. ET | April 22, 2015

Some auto lenders are choosing not to chase volume. Consumer Portfolio Services and PNC Bank are consciously passing up volume to protect profits and their credit standards. Wells Fargo made a similar statement this month.... Read More »

BMW is building vehicle distribution center in Texas to serve the South

10:44 am U.S. ET | April 22, 2015

BMW AG said it is building a vehicle distribution center in Texas to serve the Southern US. The facility at the Port of Galveston will serve the 45 BMW and Mini dealers in Texas, Oklahoma, Louisiana and Arkansas.... Read More »

AutoNation's Q1 net income rises 17%

7:00 am U.S. ET | April 22, 2015

AutoNation is picking up its acquisition pace as its profits continue to rise. Net income for the nation's largest new-car retailer jumped 17 percent in the first quarter to $111.5 million, the company said today.... Read More »

Sonic Q1 revenue up, net income down on costs for new initiatives

9:06 am U.S. ET | April 21, 2015

Sonic Automotive reported a nearly 5 percent revenue increase in the first quarter, but a drop in net income mostly because of costs associated with its One Sonic-One Experience no-haggle program and EchoPark, its new used-car business.... Read More »

Asbury's first quarter net income rises 14%

9:06 am U.S. ET | April 21, 2015

Asbury Automotive Group's net income jumped 14 percent in the first quarter of 2015 from the year-earlier period, to $35.9 million, as all parts of its business experienced profit gains.... Read More »

Mercedes' Cannon recruits fellow execs for a personal mission

11:34 am U.S. ET | April 21, 2015

A few months ago, Steve Cannon called on the heads of Group 1 and AutoNation for big favors -- and it had nothing to do with selling more cars. Instead, the CEO of Mercedes-Benz USA had a different mission in mind.... Read More »

Dealers

12:01 am U.S. ET | April 20, 2015

Max Jamiesson, left, and Nathen Hughes, center, of Salinas Toyota in Salinas, Calif., receive a 50-year award from Pete Carey, general manager of Toyota Motor Sales U.S.A.'s San Francisco region.... Read More »

DAVID BARKHOLZ

BLOG: Why this Tampa dealer reset Latino marketing efforts

9:53 pm U.S. ET | April 20, 2015

Tampa's Kuhn Honda has hit the reset button on its marketing to Latinos as it seeks to increase its already outsized sales numbers with the group.... Read More »

Judge backs Mitsubishi in franchise lawsuit

12:01 am U.S. ET | April 20, 2015

Mitsubishi has prevailed in a long-running legal dispute with one of its largest dealers. But, an attorney for the dealer says the fight will continue as a new lawsuit is in the works.... Read More »

Dealership employees, payrolls top prerecession levels

12:01 am U.S. ET | April 20, 2015

U.S. dealerships added to their employee count for the fifth year in a row last year, causing the average store's payroll to rise sharply above its pre-recession levels. The average wage of $55,000 per employee ranks as one of the highest of any retail trade.... Read More »

FCA puts the squeeze on dealer profits

12:01 am U.S. ET | April 20, 2015

Fiat Chrysler is squeezing U.S. dealerships’ profits by boosting vehicle invoice prices but not the corresponding sticker prices. The move is part of a larger effort by FCA US to increase profit margins, which trail those of Ford and General Motors.... Read More »

Ally change saves dealers big money

12:01 am U.S. ET | April 20, 2015

The 4,200 dealerships that finance their vehicle inventory through Ally Financial are seeing savings from Ally's recent shift to peg interest rates to LIBOR rather than a prime-rate benchmark.... Read More »

BEST PRACTICES

Rural dealer becomes used-car powerhouse

12:01 am U.S. ET | April 20, 2015

Small-town Schafer Chevrolet has turned the devastating loss of three new-car franchises into a used-car powerhouse.... Read More »

China's Guangzhou Auto seeks U.S. dealers ahead of 2017 SUV launch

9:58 am U.S. ET | April 19, 2015

Guangzhou Auto is searching for dealership partners in the United States and is researching how to comply with regulations to prepare for its planned 2017 launch there, the company's top executive said.... Read More »

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 »

THE SSR MVP

How an oddball Chevy transformed a Houston dealership

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

More than a decade after General Motors launched the Chevrolet SSR, most people still aren't sure what to make of the retro-styled, high-performance roadster pickup. Paul Peebles has managed to make a thriving business out of it.... Read More »

BMW to recall 91,800 Mini Coopers over airbag flaw

10:34 am U.S. ET | April 18, 2015

BMW of North America will recall about 91,800 Mini Coopers in the U.S. to fix a flaw with the front passenger seat mat that may prevent the passenger airbag from deploying.... Read More »

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