Dealer Groups and Dealerships

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 »

 

'No evidence' of subprime auto loan bubble, Equifax economist says

12:01 am U.S. ET | Aug. 27, 2014
Equifax has joined other financial data crunching firms that dispute there's an alarming subprime auto loan bubble that's about to burst. Dennis Carlson, deputy chief economist for Equifax, said in an interview this week there's an easy tendency to decry subprime in general because of what happened in the past, and "it's not fair to do that.”... Read More »

 

BEST PRACTICES

Rick Case career talks move workers up

12:01 am U.S. ET | Aug. 25, 2014
Rick Case dealer group interviews every single employee to find out what kind of job each employee ultimately wants. The idea is to retain employees who might otherwise leave looking for new challenges or a better fit.... Read More »

 

Severe weather spurs auction expansion

12:01 am U.S. ET | Aug. 25, 2014
Insurance Auto Auctions Inc., which specializes in salvage vehicles and those donated to charity, has expanded its auction site outside Omaha, Neb., in response to growing volume.... Read More »

 

Manheim enters high-tech lane

12:01 am U.S. ET | Aug. 25, 2014
Manheim, the nation's largest auto-auction company, is spending $100 million over three years to give every aspect of its operations a high-tech makeover.... Read More »

 

Asbury targets underperformers, training as F&I gains stall

12:01 am U.S. ET | Aug. 20, 2014
Asbury Automotive Group's improvement in average F&I revenues per vehicle retailed has stalled this year. Like other publicly traded auto retailers, Asbury plans to concentrate on squeezing improvements out of its bottom performers in F&I revenue per vehicle retailed.... Read More »

 

Dealer software giant ADP Dealer Services to become CDK Global

2:55 pm U.S. ET | Aug. 19, 2014
ADP Dealer Services said today it will spin off from parent ADP with the name CDK Global. The dealer software giant expects to become an independent public company by October. It will be listed on the NASDAQ exchange under the symbol CDK.... Read More »

 

Social media fall flat for car shopping, research finds

12:01 am U.S. ET | Aug. 18, 2014
The body of evidence continues to grow that social media are ineffective for selling vehicles.... Read More »

 

Manheim enters Brazil with acquisition of auction company CarBizz

2:51 pm U.S. ET | Aug. 13, 2014
Manheim, the largest auto auction company in the United States, has expanded its global operations into South America with the acquisition of Brazilian auction company CarBizz.... Read More »

 

UK dealer Lookers expects record full-year profit

Aug. 13, 2014 09:25 CET
Britain's fourth-largest car dealer, Lookers, expects to post a full-year pretax profit of more than 60 million pounds (75 million euros) after record sales lifted its pretax profit by 36 percent in the first half.... Read More »

 

TrueCar growing at faster pace than strong U.S. vehicle market

5:41 pm U.S. ET | Aug. 12, 2014
TrueCar, the online car-shopping site that went public with its stock in May, is growing its sales and dealer network faster than overall U.S. vehicle sales and faster than analysts expected.... Read More »

 

Shanghai GM contacted by regulators as rivals pressured to cut prices

7:08 am U.S. ET | Aug. 12, 2014
General Motors said its joint venture in China was contacted by the nation’s antitrust regulator amid an industry investigation that has seen at least seven foreign carmakers cut prices.... Read More »

 

Stocks stay on target -- with help

12:01 am U.S. ET | Aug. 11, 2014
With a little help from increased incentives, automakers kept U.S. inventories at near-ideal levels to start August.... Read More »

 

Q&A WITH GREG JACKSON | CEO, PRESTIGE AUTOMOTIVE GROUP

Minority dealers still don't reflect minority purchases

12:01 am U.S. ET | Aug. 11, 2014
Today, Prestige CEO Greg Jackson owns four dealerships in southeastern Michigan that sold 10,177 new Cadillac, Ford, Toyota and Mercedes-Benz vehicles last year.... Read More »

 

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

Miller learned from his dad and learned how to delegate

12:01 am U.S. ET | Aug. 11, 2014
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 »

 

Calif. retail group grabs more stores

12:01 am U.S. ET | Aug. 10, 2014
Conant Auto Retail Group of Newport Beach, Calif., which includes the nation's largest Honda dealership, bought Southern California's three-store Fladeboe Automotive Group.... Read More »

 

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