Dealer Groups and Dealerships

Krafcik joins TrueCar board

4:17 pm U.S. ET | April 3, 2014
John Krafcik, former CEO of Hyundai Motor America, has joined the board of directors of TrueCar. Krafcik, 52, will be a director and a member of the board’s operating committee.... Read More »

 

AutoNation has a notion it's akin to Tiffany

12:01 am U.S. ET | March 31, 2014
Is AutoNation more like Tiffany & Co. or Penske Automotive? Tiffany, says AutoNation's compensation committee.... Read More »

 

Just 144 monthly payments and the car's yours

12:01 am U.S. ET | March 24, 2014
Car loan terms are getting longer. But 12 years?... Read More »

 

AutoNation CEO will get base salary raise in 2014

3:42 pm U.S. ET | March 24, 2014
AutoNation CEO Mike Jackson is getting a salary increase for the first time since 2002. Jackson will be paid a base salary of $1.25 million in 2014, AutoNation, the country’s largest dealership group, said in its proxy filing today. That’s a $100,000 gain over his salary for the previous 12 years.... Read More »

 

Auction school for dealers

12:01 am U.S. ET | March 24, 2014
ADESA Inc. has mobilized as many as 300 employees to teach dealers, in some cases one-on-one, how to buy used vehicles on its adesa.com online platform, the top executive at ADESA's parent company says.... Read More »

 

VW, DealerMatch create dealer marketplace online

12:01 am U.S. ET | March 24, 2014
Volkswagen of America and a Manheim corporate sibling have developed an online marketplace for VW dealers to buy and sell used vehicles among themselves for a flat monthly fee.... Read More »

 

BEST PRACTICES

Love connection: 10-store group plays Cupid

12:01 am U.S. ET | March 24, 2014
For some consumers, shopping for a used vehicle online can be a lot like dating online: The photos tend to showcase the positive and finding a perfect match is tough. So to help shoppers find just what they want, a dealership group in central Indiana is touting its matchmaking abilities.... Read More »

 

DCH program aims to hire, promote women

12:01 am U.S. ET | March 24, 2014
DCH Auto Group is focused on recruiting and training more female employees. In late 2012, the South Amboy, N.J., dealership group formed the Professional Women's Association to study how it can better attract, retain and advance women employees, initially at its East Coast stores.... Read More »

 

More women find careers in service lanes

12:01 am U.S. ET | March 24, 2014
A small but growing number of women are finding a career in the service lanes of car dealerships. The dealers who hire them say women bring a unique skill set to the service department: empathy and strong communication skills for relationship building. Those skills can help build customer loyalty and boost profits.... Read More »

 

AutoNation CEO honored for success

12:01 am U.S. ET | March 17, 2014
AutoNation CEO Mike Jackson's success story is being used as an example to inspire young people.... Read More »

 

New panel to oversee tech shift for auctions

12:01 am U.S. ET | March 17, 2014
The auto auction industry is moving closer to a major change as rival auctions are looking into listing used vehicles for sale simultaneously on competitors' online remarketing platforms.... Read More »

 

Cars.com drawing interest from AutoTrader owners Cox, Apax, report says

7:36 am U.S. ET | March 12, 2014
Cox Enterprises, the media holding company, and London-based buyout firm Apax Partners, are interested in bidding for auto-sales Web site Cars.com, people with knowledge of the matter told Bloomberg.... Read More »

 

Public dealer groups keep raising the F&I bar

11:00 am U.S. ET | March 12, 2014
It's getting tougher for the public new-car retailers to post big percentage increases in F&I revenue per vehicle retailed, following a decade of almost continuous growth that, after the downturn, reached new highs.... Read More »

 

What's an F&I pro worth?

12:01 am U.S. ET | March 10, 2014
On average, F&I managers earn fatter paychecks than people in any other key dealership position except the general manager, according to the 2013 NADA Dealership Workforce Study Industry Report. Some dealers are beginning to rethink that.... Read More »

 

YOU'RE WHO??!!??

Larry Miller Group CEO dons fake beard, joins Utah Jazz Dunk Team for 'Undercover Boss'

12:01 am U.S. ET | March 10, 2014
The good-natured guy with the fake beard and prosthetic beer belly hidden under his shirt was a bit slow selling the fries in the concession stand. But Jazz boss Greg Miller, CEO of Larry H. Miller Group of Cos., didn't have to worry about landing a job.... Read More »

 

Income tax refunds, easy credit buoy used-vehicle prices

3:16 pm U.S. ET | March 7, 2014
Used-vehicle prices, bolstered by consumers using their income tax refunds to buy used cars and trucks, rose 0.8 percent in February from January and 1.1 percent from February 2013, the Manheim Used Vehicle Value Index showed today.... Read More »

 

AutoNation's U.S. new-vehicle retail sales rise 4% in February

11:21 am U.S. ET | March 4, 2014
AutoNation's U.S. new-vehicle retail sales rose 4 percent in February from a year earlier to 21,987 units. It was the dealership group's top-selling February since 2007.... Read More »

 

AutoNation aims to beef up service

12:01 am U.S. ET | March 3, 2014
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 »

 

Penske to open 7th U.S. Porsche store

12:34 pm U.S. ET | Feb. 28, 2014
Penske Automotive Group signed a letter of intent to open its seventh Porsche dealership in the United States. The store is scheduled to open in Davie, Florida, in the second quarter of 2015.... Read More »

 

How U.S. dealers can boost their margins, according to McKinsey study

11:28 am U.S. ET | Feb. 26, 2014
U.S. dealerships can significantly improve on the industry's average profit margin if they upgrade the capability of sales and service employees and pursue new sales formats, a McKinsey & Co. study concludes.... Read More »

 

Report: CPO sales could double in 3-5 years

12:01 am U.S. ET | Feb. 24, 2014
U.S. new-vehicle sales slipped in January, but certified used-vehicle sales ushered in the new year with double-digit percentage increases.... Read More »

 

Lithia, Sonic: Service is key to '14 growth

12:01 am U.S. ET | Feb. 24, 2014
Lithia and Sonic Automotive, the nation's third-largest dealership group, see significant opportunities for revenue growth this year by improving customer experience and increasing customer-pay, as opposed to factory warranty, service business. The dealership groups share a goal, but they have different plans to achieve it.... Read More »

 

The Battle for Billings

A Montana dealer fights to reopen his terminated Chrysler-Jeep store

12:01 am U.S. ET | Feb. 24, 2014
Nearly five years after Chrysler terminated his Billings, Mont., Chrysler-Jeep store, along with 788 other dealerships around the country, Steve Zabawa believes he is on the threshold of reopening. If it happens, he will be one of a small band of Chrysler dealers in the country to pass from termination to reinstatement to reopening.... Read More »

 

Sonic extends hours to make up for time lost to weather

3:15 pm U.S. ET | Feb. 21, 2014
Sonic Automotive is extending store hours in parts of the country hit by severe winter weather in an effort to make up vehicle sales and service revenue lost during the storms.... Read More »

 

ADESA to open more online auctions to more dealers

3:27 pm U.S. ET | Feb. 20, 2014
ADESA, the nation's second largest auto-auction company, this year will focus on building online auctions that are open to all dealers, its parent company's top executive said.... Read More »

 

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