Dealer Groups and Dealerships

Retail demand, favorable credit keep wholesale used-vehicle prices high

4:29 pm U.S. ET | July 8, 2014
Wholesale prices of used vehicles in June fell 1 percent from the previous month’s level but were 4 percent higher than in June 2013, according to the Manheim Used Vehicle Value Index released today.... Read More »

 

Execs find big fish to fry in small pond

12:01 am U.S. ET | July 7, 2014
Executives moving out of top managerial posts at carmakers are finding a nice place to land these days in the industry's high-potential digital marketing world.... Read More »

 

Top black dealer groups' sales up

12:01 am U.S. ET | July 7, 2014
The nation's 60 largest black-owned dealership groups increased revenue 11 percent last year from 2012 to $7.99 billion, Black Enterprise magazine reported.... Read More »

 

BODY SHOP COMEBACK?

Trade group chief sees growth in dealer-owned operations

12:01 am U.S. ET | July 6, 2014
The share of dealerships operating expensive body shops has shrunk since 2006. But that hasn't stopped some dealers, such as Otto Belovich, who want to be one-stop sources for all their customers' automotive needs.... Read More »

 

Galpin Motors names Beau Boeckmann president, COO

2:15 pm U.S. ET | July 3, 2014
Beau Boeckmann has been appointed president and COO of Galpin Motors Inc., succeeding his father Bert Boeckmann, who will stay on with Galpin as chairman and CEO.... Read More »

 

AutoNation says new-car sales up 1% in June

1:36 pm U.S. ET | July 2, 2014
AutoNation said today its new-vehicle retail sales inched up 1 percent in the United States through June to 25,450 units -- the company’s best-selling June since 2007. AutoNation’s results in June matched the overall industry’s 1 percent rate.... Read More »

 

At Miami store, no more 'beat up' customers

12:01 am U.S. ET | July 2, 2014
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 »

 

Chrysler, TrueCar offer discounts after crashes

12:01 am U.S. ET | June 30, 2014
Chrysler Group has agreed with TrueCar Inc. to offer discounts to car shoppers whose vehicles are totaled in crashes. TrueCar's marketing program with Chrysler includes auto insurer Geico, said Larry Dominique, executive vice president of TrueCar.... Read More »

 

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 »

 

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