Retail
 

FTC officials: Ban on Tesla's direct sales 'bad policy'

11:36 am U.S. ET | April 24, 2014 | UPDATED: 4/24/14 4:06 pm ET -- adds NADA, Tesla statements
In an unusual move, three top officials with the FTC on Thursday came out in opposition to laws that ban automakers like Tesla Motors from selling automobiles directly to consumers.... Read More »
 
APRIL U.S. SALES

U.S. sales on track to rise 9% in April, 2 forecasts show

3:44 pm U.S. ET | April 24, 2014 | UPDATED: 4/24/14 5:50 pm ET -- adds TrueCar outlook
Auto sales are on pace to rise 9 percent in April from a year ago, as warmer weather coaxes out more shoppers who stayed home during the unusually harsh winter, according to two forecasts released today.... Read More »

Penske posts record continuing-operations income in Q1

7:33 am U.S. ET | April 24, 2014
Penske Automotive Group reported the highest quarterly income from continuing operations in the company's history.... Read More »

Hyundai Q1 profit hit by slow U.S. sales

5:00 am U.S. ET | April 24, 2014
Hyundai posted first-quarter net profit that was almost identical to a year earlier, as increased sales in China and Korea helped offset weak U.S. demand.... Read More »

Lithia reports record Q1 profit, 19% revenue increase

8:38 am U.S. ET | April 24, 2014
Lithia Motors reported record first-quarter income on increased customer-pay service work and an increase in vehicle sales.... Read More »

Group 1 Q1 profit rises 7%, revenue up 15%

10:21 am U.S. ET | April 24, 2014
Group 1 Automotive Inc. reported first-quarter net income of $31.3 million, a 7 percent improvement over the same quarter a year ago. The retailer's revenue rose 15 percent to $2.3 billion.... Read More »

Jaguar, Land Rover, Ford gain in blue-sky store values

2:42 pm U.S. ET | April 23, 2014
Jaguar, Land Rover and Ford saw their blue-sky multiples increase in the second half, according to a study by a dealership buy/sell advisory firm. But BMW, Mini, Hyundai, VW and Mazda saw theirs decrease.... Read More »

Q&A

AutoNation swipes at third-party car sites as it builds digital footprint

3:26 pm U.S. ET | April 23, 2014
AutoNation wants to reduce its dependency on online lead generators and third-party shopping sites. The United States' largest dealership group plans to build up the group's Web sites to capture online shoppers, part of a multiyear, $100 million campaign to rebrand itself.... Read More »

Opel CEO targets No. 2 sales position in Europe in comeback drive

6:19 am U.S. ET | April 23, 2014
GM's Opel brand is targeting second place in deliveries in Europe in the coming years as new models attract buyers. Opel currently is the third-largest brand in the region, behind VW and Ford, according to data from the ACEA trade group.... Read More »

Asbury to open 2 used-vehicle stores; COO to retire

7:35 am U.S. ET | April 23, 2014
Asbury Automotive said today it will open two stand-alone used-vehicle stores later this year. The company plans to open the two used-vehicle stores in Florida under the “Q auto” brand name.... Read More »

CPO sales rise 11% in 1st quarter

2:46 pm U.S. ET | April 23, 2014
Industrywide sales of certified used vehicles rose 11 percent in the first quarter from the year-earlier level, with many companies registering double-digit increases.... Read More »

Toyota's global sales top VW, GM for 3rd straight quarter

5:11 am U.S. ET | April 23, 2014
Toyota outsold VW Group and GM for a third straight quarter. Toyota sold 2.58 million units in the January-to-March period, it said today. Second place is too close to call as GM and VW said they each sold about 2.4 million vehicles.... Read More »

J.D. Power to buy Korrelate to measure digital ad spending effectiveness

10:00 am U.S. ET | April 23, 2014
J.D. Power is acquiring analytics company Korrelate in a move to measure consumer online shopping behaviors and trends, the company said today.... Read More »

Asbury 1st-quarter sales, continuing-operations profit rise

3:00 pm U.S. ET | April 23, 2014
Asbury Automotive Group reported a 3 percent profit slide for the first quarter of 2014, but improvements in all parts of the business drove profits from continuing operations up sharply.... Read More »

Sonic Q1 profit falls 9% on weather, used-car start-up costs

11:30 am U.S. ET | April 22, 2014
Bad winter weather and costs associated with its standalone used-car store initiative contributed to a 9 percent drop in first-quarter profits for Sonic Automotive.... Read More »

Jackson: We'll get our own leads

12:01 am U.S. ET | April 21, 2014
CEO Mike Jackson put the big Internet shopping sites on notice last week: AutoNation is building Web products that will slash the number of leads the group's 229 stores get from AutoTrader, Cars.com, TrueCar and others.... Read More »

Blue sky high, acquisition action is, too

12:01 am U.S. ET | April 21, 2014
Auto dealers are scrambling to buy new stores despite record high dealership values. They figure the earlier they can buy before the next downturn, the sooner they’ll earn profits and pay down acquisition costs.... Read More »

Manufacturers brace for the used-car flood

12:01 am U.S. ET | April 21, 2014
A projected increase in the supply of used vehicles will be good news for U.S. dealers who have been battling a lingering effect of the recession. But it will be a double-whammy for new-car buyers: lower value on their trade-ins and less-attractive lease terms.... Read More »

Spring sales thaw spawns optimism for full year

12:01 am U.S. ET | April 21, 2014
Sales thawed out in March and early April after the frigid winter, and auto executives at the auto show in New York City were optimistic about the rest of the year. They see growing consumer confidence and strong demand for pickups and crossovers.... Read More »

NADA board member Don Chalmers dies

1:45 pm U.S. ET | April 21, 2014
Don Chalmers, an auto dealer who represented New Mexico on the board of the National Automobile Dealers Association and was chairman of NADA's government relations committee, died Sunday.... Read More »

New system, but no quick fix for GM

12:01 am U.S. ET | April 21, 2014
When General Motors last week unveiled a new way for dealers to order parts for the ignition-system recall, it reminded dealers of a hard truth: They'll be waiting for parts -- and placating impatient customers -- at least well into the autumn.... Read More »

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