Dealer Groups and DealershipsSonic, back in acquisition market, buys 2 stores in Denver 2:36 pm U.S. ET | May 24, 2013  Sonic Automotive is back in the dealership acquisition market with the purchase of large BMW and Mercedes stores in Denver.... Read More »
LaSorda, Penske launch venture fund for tech startups 1:00 pm U.S. ET | May 23, 2013  Tom LaSorda, the former CEO of Chrysler and Fisker Automotive, has started a new venture capital fund -- with investors that include auto racing and retailing executive Roger Penske -- that will invest in startup companies in health care, clean energy, transportation, information technology, software and applications.... Read More »
Experian vehicle history reports to appear in AutoTrader.com starting in September 3:46 pm U.S. ET | May 23, 2013  Starting in September, dealers will be allowed to post used vehicles on AutoTrader.com with Experian Automotive's AutoCheck vehicle history reports in addition to reports from Carfax.... Read More »
2 congressmen ask Treasury for details on 2008-09 dealership closures 2:36 pm U.S. ET | May 21, 2013 Two congressmen -- one a former Ohio auto dealer and the other a Pennsylvania new- and used-car dealer -- have asked the U.S. Treasury Department to release materials detailing how General Motors and Chrysler dealerships were selected for closure during the 2008-09 restructuring.... Read More »
Experian names John Gray head of auto unit 2:57 pm U.S. ET | May 20, 2013  Experian has named John Gray president of its automotive business unit, effective immediately, with responsibility for the strategic direction, leadership and overall growth of the business.... Read More »
AutoNation unit launches Shop-By-Payment service 3:09 pm U.S. ET | May 20, 2013 AutoNation's lead-referral subsidiary today unveiled an online service that lets consumers search dealership Web sites for new and used vehicles based on monthly payments. When a consumer chooses the desired payment a sales lead is sent to the dealership.... Read More »
Auto loan delinquencies, repossessions rise 12:01 am U.S. ET | May 20, 2013  Auto loan delinquency and repossession rates rose in the first quarter fueled largely by an increase in subprime loans, Experian Automotive said last week.... Read More »
INFORMATION TECHNOLOGY Snap-Happy 12:01 am U.S. ET | May 20, 2013  Donna Gebers, general manager of East Bay BMW and East Bay Mini in Pleasanton, Calif., makes no apologies for including at least 60 photos of each used vehicle. The 60 photos per used-car listing required of Hendrick-owned stores is at least three times the average number that appear in listings on many third-party shopping sites.... Read More »
Jaguar launches plan to spruce up U.S. storesMay 17, 2013 06:01 CET  Jaguar is rolling out a plan to refurbish its U.S. dealerships in preparation for a wave of new products. Regional Jaguar teams are going "door-to-door" to discuss the new corporate identity standards, starting with about 50 older stores.... Read More »
AMY WILSON For AutoNation's Jackson, Penske sets pace for retirement 12:01 am U.S. ET | May 16, 2013  AutoNation CEO Mike Jackson's employment contract with the country's largest dealership group is up in September. Jackson will turn 65 next February, but he has no intention of walking out the door any time soon.... Read More »
AMY WILSON Rebranding effort aids AutoNation's community giving 11:57 am U.S. ET | May 15, 2013  AutoNation has rebranded nearly 40 percent of its dealerships with its coast-to-coast AutoNation name. And, contrary to early fears within the nation's largest auto dealership group, AutoNation says it is maintaining or increasing share in those converted markets.... Read More »
U.S. used-vehicle sales drop 6% in first quarter 4:04 pm U.S. ET | May 14, 2013 Industry-wide used-vehicle sales dropped 6 percent in the first quarter of 2013 compared to the same quarter last year, according to Edmunds.com's new Used Market Quarterly Report.... Read More »
Jaguar launches plan to spruce up stores 12:01 am U.S. ET | May 13, 2013  Jaguar is rolling out a plan to refurbish its U.S. dealerships in preparation for a wave of new products. Regional Jaguar teams are going "door-to-door" to discuss the new corporate identity standards, starting with about 50 older stores.... Read More »
N.J. store sues Chrysler over termination 12:01 am U.S. ET | May 13, 2013 A Chrysler Group dealership in central New Jersey has filed a lawsuit to stop the automaker from terminating the dealership's franchises.... Read More »
Retired Texas dealer McCall supports Tesla 12:01 am U.S. ET | May 13, 2013  Retired Texas auto dealer Sterling McCall surprised fellow dealers in April when he testified in favor of Tesla Motors Inc.'s bid to carve out an exemption to state franchise law. But after buying two Teslas himself -- and taking delivery of his Model S in a high school parking lot -- McCall became convinced that the current Texas law is unfair to the electric vehicle maker.... Read More »
ADESA forecasts rising off-lease volume in second half of year 12:01 am U.S. ET | May 13, 2013  ADESA, the nation's second-largest used-vehicle auction company, expects an uptick in sales of off-lease vehicles, especially in the second half of the year, said the top executive at its parent company.... Read More »
FINAL ASSEMBLY Jackson: Penske sets my retirement pace 12:01 am U.S. ET | May 13, 2013  AutoNation CEO Mike Jackson's employment contract with the country's largest dealership group is up in September. Jackson will turn 65 next February, but he has no intention of walking out the door any time soon.... Read More »
Penske raises dividend 7% 3:52 pm U.S. ET | May 10, 2013  Penske Automotive Group increased its quarterly dividend by 7 percent, to 15 cents per share, for the first quarter, the company announced today.... Read More »
AutoTrader's VinSolutions buys Haystak Digital Marketing 5:14 pm U.S. ET | May 6, 2013 VinSolutions, a unit of the AutoTrader Group, has agreed to buy Haystak Digital Marketing.... Read More »
Public retail groups: 'We're fighting tooth and nail' for margins 12:01 am U.S. ET | May 6, 2013 Profit margins on new vehicles are slipping for the nation's largest dealership groups as manufacturers and retailers slug it out for market share. New-car margins dropped for all the public dealership groups during the first quarter of 2013.... Read More »
Affinity sales saved the day for TrueCar 12:01 am U.S. ET | May 6, 2013  TrueCar Inc. owes its survival to the 1,500 associations, including USAA and AAA, that give their members an opportunity to buy vehicles through the online auto-shopping service, TrueCar CEO Scott Painter said last week.... Read More »
AutoNation's new-vehicle sales rose 10% in April 1:37 pm U.S. ET | May 2, 2013  Driven by a domestic-brand sales surge, AutoNation, the nation's largest dealership group, reported a 10 percent gain in new-vehicle sales in April.... Read More »
Group 1 operating income rises on higher new-vehicle sales 10:40 am U.S. ET | May 2, 2013  Higher new-vehicle sales and increased gross profits in all business segments drove Group 1 Automotive's operating income higher during the first quarter of 2012, but net income dropped 4 percent.... Read More »
'CHASING THAT CRAZY NUMBER' Dealers grouse that stair-step plans are causing more pain than last year 12:01 am U.S. ET | April 29, 2013 Stair-step programs, the incentive plans that drive many dealers crazy, are causing more grumbling than they were a year ago. Several major retailers, including some of the largest dealership groups in the country, say stair-step programs are worse than last spring.... Read More »
Carfax-dealers scuffle spirals into lawsuit 12:01 am U.S. ET | April 29, 2013 A scuffle between Carfax Inc., a widely known provider of vehicle history reports, and some dealers who subscribe to the reports, has escalated into a full-blown legal battle.... Read More »
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