Dealer Groups and Dealerships

CarMax says Q3 net income rose 22% to $130 million

9:14 am U.S. ET | Dec. 19, 2014
CarMax, the largest used-car seller in the United States, said net income surged 22 percent in its third fiscal quarter as easier credit boosted vehicle sales.... Read More »

 

Dealertrack expands beyond U.S. with acquisition of German software provider

11:54 am U.S. ET | Dec. 18, 2014
Dealer software giant Dealertrack Technologies is expanding beyond North America with the acquisition of incadea, a dealer software provider based in Germany. Dealertrack plans to pay just over $190 million in cash for publicly traded incadea, the companies said today.... Read More »

 

AutoTrader.com joins rivals in offering dealership reviews

11:37 am U.S. ET | Dec. 16, 2014
AutoTrader is adding dealer reviews to its website after long resisting them. The giant vehicle shopping site has agreed to post consumer reviews of dealerships collected by DealerRater, the two companies announced today.... Read More »

 

2015 WORLD CONGRESS

Panelists to focus on retail trends

12:01 am U.S. ET | Dec. 15, 2014
Three experts with rich backgrounds in auto retailing will discuss the convergence of trends and what they mean for the future during next month's Automotive News World Congress in Detroit.... Read More »

 

Janet Barnard named president of Manheim North America

5:34 pm U.S. ET | Dec. 11, 2014
Manheim North America COO Janet Barnard has been named president of the auction company, effective immediately, the company's parent, Cox Automotive, said Thursday.... Read More »

 

DriveTime names Manheim, low-end vehicle auction as exclusive remarketers

4:07 pm U.S. ET | Dec. 11, 2014
DriveTime has named Manheim and Go Auto Exchange, an auction that specializes in dealer-to-dealer sales of low-end used vehicles, as its exclusive sales outlet for remarketing vehicles.... Read More »

 

High salesperson turnover getting worse, study finds

12:01 am U.S. ET | Dec. 8, 2014
In 2013, the average dealership had a 66 percent turnover rate among sales consultants, up 4 percentage points from the previous year and well above the national average for the private sector of 42 percent, the National Automobile Dealers Association's 2014 Dealership Workforce Study found.... Read More »

 

LETTER TO THE EDITOR

Why I won't be at the conference

12:01 am U.S. ET | Dec. 8, 2014
A full-page ad on Page 60 of the Nov. 10 issue requests our attendance at the Automotive News World Congress. Among the featured speakers, though, are two whose business models undermine the highly successful and competitive franchise system.... Read More »

 

AutoNation sales up 6% in November

3:19 pm U.S. ET | Dec. 3, 2014
Strong truck sales helped AutoNation to a 6 percent increase in new-vehicle sales in November. New-vehicle sales for AutoNation, the country's largest dealership group, were 27,055 in November, with increases from all of the company's operating segments.... Read More »

 

Average new-car loan hits 8-year high of $27,799

8:04 am U.S. ET | Dec. 3, 2014
The average amount financed to buy a vehicle is the highest it has been in eight years, according Experian Automotive. Average monthly payments rose in the third quarter despite consumers' continued willingness to turn to leasing and longer loan lengths to keep payments down.... Read More »

 

Group 1 snaps up 3 more dealerships in the UK

3:45 pm U.S. ET | Dec. 1, 2014
Group 1 Automotive Inc. is expanding its presence overseas with the purchase of three BMW-Mini dealerships in the United Kingdom. Terms were not disclosed, but the stores are expected to generate $225 million in annual revenues, Group 1 said in a statement.... Read More »

 

Buy-sells skyrocket, in dollars and deals

12:01 am U.S. ET | Dec. 1, 2014
This year's buy-sell market is on track to be the most active since 2004, in both number of deals and total dollars, two newly released reports say.... Read More »

 

AutoNation readies branded F&I products

12:01 am U.S. ET | Dec. 1, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront. The nation's largest dealership group also is contemplating AutoNation-branded finance and lease contracts and whether to set up its own captive finance company.... Read More »

 

Hendrick aims to keep legacies rolling

12:01 am U.S. ET | Dec. 1, 2014
Taking care of legacy employees is critical for closing the acquisition of a dealership, buy-sell advisers say.... Read More »

 

BILL COLE, DEALER, COLE AUTOMOTIVE GROUP

A voice for dealers, business in West Virginia Senate

12:01 am U.S. ET | Dec. 1, 2014
Dealer Bill Cole, 58, is poised to become president of the West Virginia Senate next year, and the state's lieutenant governor.... Read More »

 

JOHN DARVISH, CEO, DARCARS AUTOMOTIVE GROUP

DARCARS' new leadership regroups to grow in U.S., beyond

12:01 am U.S. ET | Dec. 1, 2014
DARCARS has bought limited rooftops over the past 10 years, but Darvish intends to double the company's size -- whether through acquisitions or revenue or both -- in the next five years.... Read More »

 

LINDSAY CHAPPELL

Bad weather will shape future retailing

12:01 am U.S. ET | Nov. 27, 2014
Bad weather has the power to overturn auto industry forecasts and plans and outlooks. And the long-range expectations for worse weather to come could have the power to mess up the industry's neat longstanding practices and traditions.... Read More »

 

Delinquency uptick on target, analysts say

11:30 am U.S. ET | Nov. 26, 2014
Analysts have been predicting for the past two years or so that auto loan delinquencies would grow, but the numbers are only now starting to catch up with the forecasts. Thirty-day auto loan delinquencies rose year over year in both the second and third quarters of 2014, Experian Automotive data show. The increases were “to be expected due to the growth in subprime loans,” said Melinda Zabritski, Experian’s senior director of automotive credit.... Read More »

 

Discounts, falling gas prices driving Nov. sales higher

3:30 pm U.S. ET | Nov. 25, 2014
The U.S. auto industry may post its highest November sales volume since 2001, and one forecaster says light-vehicle transaction prices are on pace to reach the highest level ever for a second consecutive month. Year-end clearance sales and the lowest gasoline prices since 2010 are two big factors behind the forecasts.... Read More »

 

Structural damage or fender bender?

12:01 am U.S. ET | Nov. 24, 2014
TrueFrame will inspect any vehicle, at a dealership's request, that has an accident on its history report. TrueFrame issues its own report if the vehicle passes its cosmetic and structural standards. The TrueFrame report is sent to the dealership that requested it and to vehicle history reporting companies such as Carfax Inc., which has agreed to link TrueFrame reports to its vehicle history reports.... Read More »

 

Next phase of multiplatform sales? Hold your horses

12:01 am U.S. ET | Nov. 24, 2014
Remarketers, auto dealers and others had hoped to hear at a remarketing conference this month about when the next stage in online multiplatform auction selling would arrive. But when Jay Cadigan, who represents Manheim in conversations with other key players hammering out details of the initiative, was asked about its timeline, he demurred.... Read More »

 

GABE NELSON

Fisker flexes muscle with coachbuilt 725-hp Mustang

2:55 pm U.S. ET | Nov. 20, 2014
Henrik Fisker, the Danish designer behind the Aston Martin DB9, BMW Z8 and the ill-fated Fisker Karma plug-in hybrid, apparently can design an American muscle car, too.... Read More »

 

ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014
There is no subprime auto loan bubble, darn it. That message came through loud and clear in session after session during the recent Used Car Week conference sponsored in Las Vegas.... Read More »

 

AutoNation to add branded F&I products next year

12:01 am U.S. ET | Nov. 19, 2014
AutoNation will start selling private-label F&I products in 2015 as part of the rollout of its new digital storefront. The nation’s largest dealership group also is contemplating AutoNation-branded finance and lease contracts and whether to set up its own captive finance company... Read More »

 

Technology training can help close a sale, AutoTrader.com says

10:39 am U.S. ET | Nov. 18, 2014
As automakers incorporate in-vehicle technology features in more models, dealers have to find a way to sufficiently teach customers how to use the new tools, AutoTrader said in a report.... Read More »

 

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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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