Dealer Groups and Dealerships

Asbury's Q4 net income falls on financing charge; operating income up 15%

11:17 am U.S. ET | Feb. 4, 2015
Despite higher revenue and operating profit, Asbury Automotive Group's net income dropped by more than half in the fourth quarter because of a loss on the extinguishment of long-term debt.... Read More »

 

AutoNation's Q4 profits rise on strong gains in all segments

7:00 am U.S. ET | Feb. 3, 2015
AutoNation's fourth-quarter net income rose 7 percent to $117 million, powered by strong year-end vehicle sales and improvements in all business categories. Adjusted for one-time events, the company's earnings rose 15 percent.... Read More »

 

One of the new breed -- from 0 to 24 stores in 1 year

12:01 am U.S. ET | Feb. 2, 2015
A year ago, Rick Ford was COO of another dealer's group. Today, with the backing of private equity investors, he's leading a new 13-store dealership group poised to nearly double in size.... Read More »

 

A deal-killer: Automakers' right of first refusal

12:01 am U.S. ET | Feb. 2, 2015
Expect automakers to exercise their right of first refusal on dealership buy-sell deals more often.... Read More »

 

AUTOMOTIVE NEWS RETAIL FORUM

Cox Automotive's CEO to dealers: Now is the time to invest

12:01 am U.S. ET | Feb. 2, 2015
Dealers should take advantage of current good times to invest for the future, Sandy Schwartz, CEO of Cox Automotive, told the Automotive News Retail Forum. "Today is the day to retool dealerships," Schwartz said. "We're in a great time to be in the business. This is the time to get it right."... Read More »

 

RICHARD TRUETT

Ford's new F-150 and Transit face tough scrutiny from pundits, competitors

1:16 pm U.S. ET | Jan. 30, 2015
Ford now has two risky new high-profile vehicles on sale -- the aluminum-bodied F-150 pickup and the new Euro-styled Transit cargo van -- so pundits and competitors naturally are looking for weaknesses. And they found a few this week.... Read More »

 

Group 1 and Prestige settle Fla. buy-sell dispute

3:50 pm U.S. ET | Jan. 29, 2015
A dispute between Prestige Motor Car Imports and Group 1 Automotive over a buy-sell deal in Florida gone wrong is settled and the deal is back on -- for now, both sides said.... Read More »

 

TrueCar: App can 'hypertarget' consumers

12:01 am U.S. ET | Jan. 26, 2015
Online car-buying service TrueCar said the mobile app it will release this year will enable dealers and automakers to collect an unprecedented amount of information on customers.... Read More »

 

Soros is ready to move on auto dealerships

3:40 pm U.S. ET | Jan. 26, 2015
Wall Street powerhouse Soros Fund Management is ready to move on a deal to acquire auto dealerships, a representative of the fund said at a private dinner Saturday in San Francisco, according to two sources who attended the event. Soros is prepared to invest as much as $1 billion on dealerships, one of the sources said.... Read More »

 

Family feud disrupts DARCARS

12:01 am U.S. ET | Jan. 26, 2015
Tamara Darvish, a well-known face of the DARCARS dealership group, filed a lawsuit against her father, John Darvish Sr., and the company he founded. The suit will have a ripple effect on the chain’s 22 dealerships, experts say. Such conflicts usually worry manufacturers, too.... Read More »

 

As the new year begins, Sonic goes shopping

12:01 am U.S. ET | Jan. 26, 2015
Sonic Automotive Inc. plans to buy more dealerships in 2015 than the four it bought last year.... Read More »

 

Used-vehicle prices finish 2014 strong

12:01 am U.S. ET | Jan. 26, 2015
Greater volumes of off-lease, retired rental and other used vehicles returned to the market last year, but overall values of used vehicles closed 2014 with prices in December registering year-over-year increases.... Read More »

 

Certified used sales poised for another record

12:01 am U.S. ET | Jan. 26, 2015
Buoyed by an uptick in off-lease vehicles flowing back into the market, the industry will sell at least 2.5 million certified used vehicles this year, breaking last year's record, some analysts predict.... Read More »

 

DAVE GUILFORD

Money's cheap, so here come the store upgrades

9:30 am U.S. ET | Jan. 24, 2015
One of the better indicators of the health of a business is its willingness -- and ability -- to make capital expenditures. By that measure, auto retailers are doing well.... Read More »

 

George Soros' Wall Street fund shops for dealership groups

10:30 pm U.S. ET | Jan. 24, 2015
Wall Street fund Soros Fund Management wants to partner in, invest in or outright buy a large auto dealership group, according to four sources familiar with the situation. Two representatives of Soros Fund Management are at the NADA convention in San Francisco this weekend to research the industry and explore opportunities, sources say.... Read More »

 

Michelle Primm of Cascade Auto Group named Woman of the Year

5:52 pm U.S. ET | Jan. 24, 2015
Michelle Primm, managing partner of Cascade Auto Group in Cuyahoga Falls, Ohio, received the Barbara Cox Anthony Automotive Woman of the Year award from Cox Automotive on Saturday.... Read More »

 

Q&A WITH DAN FIELDS | PRESIDENT, FIELDS AUTO GROUP

Dealership group invests for 'nice, exciting, fun' stores

2:00 pm U.S. ET | Jan. 24, 2015
Merit Earl Fields was sales manager at Cadillac before becoming a Cadillac dealer on Chicago's North Shore in 1971. After his son, John Fields, quit a career as a contract-law attorney to join the car business, the duo began adding franchises: BMW, Saab, American Motors and more.... Read More »

 

SERVICE MASTERS

Dealerships boost fixed-ops spending to fend off rivals, retain customers

2:00 pm U.S. ET | Jan. 24, 2015
Many dealerships are investing heavily in fixed operations. They are adding service bays, longer hours, dedicated express lanes and technology to boost efficiency. Dealers say the investments are justified by strong profits, a big pool of potential customers who defected to independent shops and national service chains, and opportunities to boost customer satisfaction.... Read More »

 

At Miami store, no more 'beat up' customers

2:00 pm U.S. ET | Jan. 24, 2015
F&I managers at Dadeland Dodge-Chrysler-Jeep in Miami are responsible for the gross profits from both vehicle sales and F&I and handle vehicle purchase negotiations with customers as well as financing. They also get a cut of both to motivate them.... Read More »

 

BEST PRACTICES

Second-chance store lets staff shine

2:00 pm U.S. ET | Jan. 24, 2015
At AutoNation's Houston Mitsubishi store, General Manager Irfan Siddiqui has found top performers by hiring people who have struggled in their roles at other nearby AutoNation dealerships.... Read More »

 

AutoNation aims to beef up service

2:00 pm U.S. ET | Jan. 24, 2015
AutoNation Inc., the nation's largest dealership group, plans to expand its service business by year end, adding 400 technicians and increasing its express service operations to 180 stores from 80 now.... Read More »

 

Q&A WITH GREG MILLER | CEO, LARRY H. MILLER GROUP OF COS.

Miller learned from his dad and learned how to delegate

2:00 pm U.S. ET | Jan. 24, 2015
Greg Miller, 48, learned a lot about the car business from his father, Larry H. Miller. But he is a very different leader from his dad.... Read More »

 

Cooperative spirit

6:07 pm U.S. ET | Jan. 23, 2015
Rivals CDK Global and Reynolds and Reynolds have two of the largest stands at the NADA Expo -- and well apart from each other. But the companies also have two joint ventures.... Read More »

 

Mazda targets 11% U.S. sales bump in 2015

5:15 pm U.S. ET | Jan. 23, 2015
Mazda expects an 11 percent jump in U.S. sales this year, aided by the launch of the new CX-3 small crossover and redesigned MX-5 Miata roadster, Mazda executives told dealers Friday at the 2015 NADA convention.... Read More »

 

NICK BUNKLEY

NADA, Tesla, pitchforks and torches -- a missed opportunity

1:00 am U.S. ET | Jan. 23, 2015
If there's one thing many car dealers can't stand right now, it's Tesla. Yet here they are, thousands of them, spending a few days right in Elon Musk's backyard.... Read More »

 

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