Dealer Groups and Dealerships

Edmunds: U.S. sales to stay strong

12:01 am U.S. ET | Sept. 15, 2014
The surge in U.S. light-vehicle sales last month could help lift this year's volume above levels last seen in 2006, Edmunds.com analysts said.... Read More »

 

Easing off on acquisitions

AutoNation adds 4 stores, but won't buy much more this year

12:01 am U.S. ET | Sept. 15, 2014
AutoNation Inc.'s deal to buy four Bellevue, Wash., luxury-brand dealerships is the company's biggest acquisition since late 2012.... Read More »

 

Wall Street sees value in Group 1, Lithia acquisitions

12:01 am U.S. ET | Sept. 15, 2014
In the dealership acquisition market, reward follows risk. The two most active acquirers among public dealership groups -- Group 1 Automotive and Lithia Motors -- are also the winners when it comes to rising valuations, according to a report released last week by dealership buy-sell adviser Erin Kerrigan.... Read More »

 

Edmunds pushes dealers toward Price Promise

12:01 am U.S. ET | Sept. 15, 2014
Edmunds.com, a popular car-shopping site, intends to drop dealers unwilling to join a sales program that guarantees vehicle prices to consumers, President Seth Berkowitz said last week.... Read More »

 

LINDSAY CHAPPELL

Incentives prop up sedan-heavy strategies

12:01 am U.S. ET | Sept. 13, 2014
Take a look at who's been increasing incentives lately and you will see a larger trend in vehicle strategy for the United States.... Read More »

 

Manheim rolls out program that lets dealers return vehicles

12:15 pm U.S. ET | Sept. 11, 2014
Dealers who buy almost any vehicle at a Manheim auction location also can purchase the right to return those vehicles for any reason for up 21 days or 500 miles, whichever comes first. The nation's largest auto auction company is now offering optional protection from DealShield, its sister company, that guarantees the purchaser a 100 percent refund of the purchase price plus buyer's fees if they choose to return the vehicle.... Read More »

 

AMY WILSON

How two old friends made the AutoNation-Barrier deal happen

11:01 am U.S. ET | Sept. 11, 2014
Jimmy Barrier's decision to sell his Seattle-area luxury-brand dealerships to AutoNation was more than 30 years in the making. That's how far back Barrier goes with AutoNation CEO Mike Jackson.... Read More »

 

Cheap deals drive leasing to new high

11:00 am U.S. ET | Sept. 10, 2014
Cheap lease deals helped drive the lease penetration rate to a new high in the second quarter of 2014, according to Experian Automotive. "One out of four new cars that left a dealership in the second quarter was a lease," Melinda Zabritski, senior director of Experian, said during a conference call for analysts last week.... Read More »

 

AutoNation to buy 4 luxury dealerships in Seattle market

9:15 am U.S. ET | Sept. 10, 2014
AutoNation is expanding its footprint in the Pacific Northwest by buying four luxury-brand dealerships in the Seattle market that generate more than $350 million in annual revenue.... Read More »

 

Pay disparities are hurting morale, dealership retention, expert warns

11:45 am U.S. ET | Sept. 10, 2014
Rising disparities in pay between the F&I and sales departments are leading to morale problems and high turnover at dealerships, a noted F&I authority said at a conference in Las Vegas. Dealerships are testing a number of alternative pay plans, but nothing proposed so far appears to solve the problem.... Read More »

 

GM leads broad rise in M&A

GM dealerships' buy-sell activity jumps

12:01 am U.S. ET | Sept. 8, 2014
GM stores are by far the most sold and acquired in the dealership buy-sell market this year. Buy-sell expert Alan Haig says "it's a sign that their profits are strong, and buyers are seeing momentum in the GM brands that didn't exist in prior years."... Read More »

 

Report: Lenders keeping lid on risky business

12:01 am U.S. ET | Sept. 8, 2014
Experian's latest State of the Automotive Finance Market report, covering the second quarter, suggests lenders aren't headed down any slippery slopes when it comes to discipline.... Read More »

 

With digital data, DARCARS has F&I down to a science

12:01 am U.S. ET | Sept. 8, 2014
Finance and insurance managers at DARCARS Automotive Group have a digital Big Brother watching them, ready to spit out a minute-by-minute account of their customer interactions if their sales fumble.... Read More »

 

BEST PRACTICES

Hiking pay to get 'the pick of the crop'

12:01 am U.S. ET | Sept. 8, 2014
Earl Stewart Toyota in Lake Park, Fla., examined its pay scale this summer. The conclusion: not high enough. So it hiked its pay scale. For the lowest-paid employees, the change meant a 38 percent jump in their hourly rate.... Read More »

 

Dealership buy-sell pace is hottest in years

12:01 am U.S. ET | Sept. 7, 2014
Dealership acquisitions continue to soar, positioning 2014 to be one of the most active years for buy-sells in more than a decade, say advisers who track transactions. Through July, private acquisition announcements in Automotive News more than doubled to 70 transactions from 32 in the year-earlier period, the midyear Haig Partners Blue Sky Report released last week said.... Read More »

 

GM headquarters wrapped up for GMC during 'Monday Night Football'

2:40 pm U.S. ET | Sept. 5, 2014
The signature element of Detroit's skyline -- GM's Renaissance Center headquarters -- is adorned with a massive GMC advertising wrap for the Detroit Lions' upcoming appearance on ESPN's “Monday Night Football” broadcast.... Read More »

 

CarMax recruiting for more than 1,000 jobs

6:33 pm U.S. ET | Sept. 3, 2014
CarMax said it is recruiting for more than 1,000 positions to fill across the country. The used-car retailer said in a statement Wednesday it is offering full- and part-time permanent positions.... Read More »

 

Auto lenders curb loans to least-creditworthy customers

11:07 am U.S. ET | Sept. 3, 2014
Auto lenders hit the brakes on loans to customers with subprime and deep subprime credit in the second quarter of 2014, according to Experian Automotive. Loans to those customers accounted for 15.1 percent of new-vehicle loans for the quarter.... Read More »

 

Q&A

Sonic’s EchoPark stores will use self-branded products, financing

12:01 am U.S. ET | Sept. 3, 2014
Sonic Automotive is negotiating with auto lenders and F&I product administrators to provide private-label retail financing and F&I products for its new EchoPark stand-alone used-car dealerships, says Jeff Dyke, Sonic’s executive vice president of operations.... Read More »

 

Tesla says it didn't violate Georgia regulations

9:24 pm U.S. ET | Sept. 2, 2014
Tesla Motors, facing a challenge from Georgia dealerships over how it sells cars, said claims made in a petition filed on behalf of auto retailers in the state that it breached its license agreement aren't valid.... Read More »

 

Employment slips at Japanese-brand stores

12:01 am U.S. ET | Sept. 1, 2014
Employment at Japanese-brand dealerships in the U.S. slid in 2013, even as manufacturing jobs expanded at Japanese auto companies' U.S. factories, an annual survey found. The number of people directly employed by Japanese-brand franchised new-vehicle dealerships fell 2 percent to 319,568 last year.... Read More »

 

BEST PRACTICES

Collection Auto's Bernie Moreno cultivates managerial talent

12:01 am U.S. ET | Sept. 1, 2014
Bernie Moreno was 28 and had no auto retailing experience when Boston dealer Herb Chambers hired him as general manager of a Saturn store. Nearly two decades later, as CEO of Cleveland's Collection Auto Group, Moreno sees big breaks for young talent as the cornerstone of his empire's rapid growth.... Read More »

 

Dealership Buy/Sell

12:01 am U.S. ET | Sept. 1, 2014
Group 1 Automotive, Lithia Motors and others made acquisitions.... Read More »

 

Keith Crain will be honored at Boca Raton Concours d'Elegance

4:00 pm U.S. ET | Aug. 27, 2014
Keith Crain, editor in chief of Automotive News and chairman of Crain Communications, will be honored with a 2015 Automotive Lifetime Achievement award at the ninth annual Boca Raton Concours d'Elegance in February.... Read More »

 

Is rise in Q2 loan delinquencies a turning point?

12:01 am U.S. ET | Aug. 27, 2014
Industry-watchers insist that today's auto loan delinquency rates are low by historical standards. But a slight uptick in 30- and 60-day delinquencies in the second quarter could be a sign that the long decline in delinquencies could be reversing.... Read More »

 

 
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Defying Dad, by building on his legacy

Defying Dad, by building on his legacy

At Courtesy Auto Group in Illinois, Ray and Rik Fregia are seeing sales boom after million-dollar overhauls at their three stores. Mon., September 15
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