Dealer Groups and Dealerships

Musk's EV patent pitch piques Krafcik's curiosity

12:01 am U.S. ET | June 30, 2014
What did John Krafcik do when he heard about those electric-vehicle patents Tesla CEO Elon Musk made available to the public this month?... Read More »

 

Pioneer's advice: 'Build a good Web site and drive traffic to it'

12:01 am U.S. ET | June 30, 2014
John Holt, who is retiring in September as digital marketing chief of ADP Dealer Services, advises dealers to rely less on third-party lead generators.... Read More »

 

Group 1 sues Florida dealership over buy-sell dispute

3:54 pm U.S. ET | June 26, 2014
Group 1 Automotive thought it had a done deal to buy an Audi store in North Miami Beach from Prestige Motor Car Imports for $72 million. But Prestige said no. Now Group 1 is suing the luxury-import retailer to complete the transaction.... Read More »

 

TrueCar to drop 75 franchisees in policy disputes

4:24 pm U.S. ET | June 26, 2014
TrueCar this month plans to drop up to 75 of its 8,000 participating franchisees for failing to honor price guarantees made to car buyers or for other violations of TrueCar policies, President John Krafcik said today. TrueCar also will launch a new app in the coming days that allows consumers to take photos of their trade-in vehicles and seek a price for the vehicles from competing dealers in the TrueCar network, Krafcik said.... Read More »

 

Auto Internet pioneer John Holt retiring from ADP to climb other mountains

5:19 pm U.S. ET | June 25, 2014
John Holt, an Internet pioneer in auto retailing, is retiring from ADP Dealer Services to climb mountains with his daughters.... Read More »

 

For some, buy-here, pay-here makes sense – and profits

12:01 am U.S. ET | June 25, 2014
Gary Tillery wants every customer who walks into his J.D. Byrider used-vehicle lot in Albuquerque, N.M., to drive off in a vehicle they will pay for and like.... Read More »

 

GONE IN 60 MINUTES?

The elusive 1-hour transaction

12:01 am U.S. ET | June 25, 2014
Dealerships nationwide are adopting 60 minutes as the gold standard for completing a new-car transaction. They are also learning how tough it is to reach the goal.... Read More »

 

Why it's time to put F&I online

12:01 am U.S. ET | June 25, 2014
It's common practice at many dealerships to keep F&I products under wraps until customers are in the last stages of a car purchase. But is it wise? Executives from auto shopping sites AutoTrader.com and Edmunds.com say no.... Read More »

 

Subprime lenders finance smaller share of CarMax sales

12:01 am U.S. ET | June 25, 2014
The percentage of CarMax vehicles purchased with loans from subprime lenders declined to 16.1 percent in the company’s fiscal quarter ending May 31, from 21.3 percent a year earlier, the nation’s largest used-vehicle retailer said.... Read More »

 

Consumer groups seek CarMax probe over 'deceptive' ads

4:01 pm U.S. ET | June 24, 2014
Car-safety groups and a U.S. senator asked the Federal Trade Commission today to investigate CarMax for claims that it inspects its used cars even though it does not fix recalled vehicles. The petition also seeks to block CarMax sales of unrepaired recalled cars.... Read More »

 

Michigan's Suburban Collection acquires 2 Cadillac dealerships in state

3:11 pm U.S. ET | June 24, 2014
The Suburban Collection has acquired two Michigan dealerships -- Don Massey Cadillac in Plymouth and Capitol Cadillac in Lansing -- from Charlotte, N.C.-based Sonic Automotive Inc. for an undisclosed amount.... Read More »

 

The DCH deal: How Lithia will absorb its new asset

12:01 am U.S. ET | June 23, 2014
CEO Bryan DeBoer will transform Lithia Motors Inc., the smallest of the publicly traded dealership groups, with his planned purchase of DCH Auto Group Ltd. But it won't be easy.... Read More »

 

At publics, buybacks beat acquisitions

12:01 am U.S. ET | June 23, 2014
Contrary to expectations, public dealership groups are spending more on stock buybacks than on U.S. acquisitions.... Read More »

 

New era afoot for dealership M&As?

12:01 am U.S. ET | June 23, 2014
Lithia's purchase of DCH Auto Group will have major implications on the buy-sell market going forward. It could spark more activity, perhaps prompting bigger dealership groups to buy other large groups.... Read More »

 

Dealership buy-sells jump in first quarter

12:01 am U.S. ET | June 23, 2014
Driven largely by private buyers, dealership acquisition activity rose strongly during the first several months of 2014, dealership brokers say in two new reports.... Read More »

 

Want to relive the 1990s? Just hit the road

12:01 am U.S. ET | June 23, 2014
You'd think the number of really old vehicles on the road would come down given all that "pent-up demand" that has been released in the past couple of years. Not so, according to Experian.... Read More »

 

GONE IN 60 MINUTES?

Sonic targets 1-price, 45-minute transactions

12:01 am U.S. ET | June 22, 2014
Sonic Automotive is spending tens of millions of dollars to transform the customer buying experience in the company's dealerships. The goal is to get buyers in and out the door faster.... Read More »

 

Lexus lifts cap on how many stores a group can own

12:01 am U.S. ET | June 21, 2014
Lexus dealers are cheering the brand's having expanded a cap that had limited retailers to owning no more than six Lexus stores.... Read More »

 

CarMax fiscal Q1 earnings rise 16%

3:20 pm U.S. ET | June 20, 2014
CarMax's net earnings rose 16 percent to $169.7 million in its first fiscal quarter, from the year-earlier period, on higher retail and wholesale unit sales and income from its captive finance unit.... Read More »

 

Most big dealership groups lift F&I revenue

12:01 am U.S. ET | June 18, 2014
Finance and insurance revenue is rising at an overwhelming majority of the nation's largest dealership groups.... Read More »

 

The elusive 60-minute transaction

12:01 am U.S. ET | June 16, 2014
Dealerships nationwide are adopting 60 minutes as the gold standard for completing a new-car transaction. They are also learning how tough it is to reach the goal.... Read More »

 

Software systems cut wait times -- if they talk

12:01 am U.S. ET | June 16, 2014
Software vendors are helping dealers in the quest for faster vehicle transactions when they are not tripping over each other.... Read More »

 

Wall Street applauds Lithia-DCH deal

4:19 pm U.S. ET | June 16, 2014
Lithia Motors' plans to buy DCH Auto Group were greeted with cheers in the stock market today as publicly traded Lithia's share price jumped 13 percent, or $9.85, to close at an all-time high of $86.53.... Read More »

 

Group offers used-car powertrain warranty

12:01 am U.S. ET | June 16, 2014
Rick Case Automotive Group expects its new 10-year/100,000-mile powertrain warranty on used vehicles, excluding those covered by manufacturer certification, to boost its used-vehicle sales 30 percent this year.... Read More »

 

Lithia agrees to buy DCH to create coast-to-coast retail giant

11:37 am U.S. ET | June 15, 2014
Lithia Motors agreed to buy New Jersey-based DCH Auto Group in a combination that would create the fifth-largest auto retailer in the United States with 128 stores. Lithia, in a statement on Sunday, said it would pay about $340 million in cash and another $22.5 million in stock. The transaction is expected to close in the fourth quarter.... Read More »

 

Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
» Watch the Video
     
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