Dealers

FTC officials: Ban on Tesla's direct sales 'bad policy'

11:36 am U.S. ET | April 24, 2014
In an unusual move, three top officials with the FTC on Thursday came out in opposition to laws that ban automakers like Tesla Motors from selling automobiles directly to consumers.... Read More »

 

APRIL U.S. SALES

U.S. sales on track to rise 9% in April, 2 forecasts show

3:44 pm U.S. ET | April 24, 2014
Auto sales are on pace to rise 9 percent in April from a year ago, as warmer weather coaxes out more shoppers who stayed home during the unusually harsh winter, according to two forecasts released today.... Read More »

 

Penske posts record continuing-operations income in Q1

7:33 am U.S. ET | April 24, 2014
Penske Automotive Group reported the highest quarterly income from continuing operations in the company's history.... Read More »

 

Lithia reports record Q1 profit, 19% revenue increase

8:38 am U.S. ET | April 24, 2014
Lithia Motors reported record first-quarter income on increased customer-pay service work and an increase in vehicle sales.... Read More »

 

Group 1 Q1 profit rises 7%, revenue up 15%

10:21 am U.S. ET | April 24, 2014
Group 1 Automotive Inc. reported first-quarter net income of $31.3 million, a 7 percent improvement over the same quarter a year ago. The retailer's revenue rose 15 percent to $2.3 billion.... Read More »

 

Jaguar, Land Rover, Ford gain in blue-sky store values

2:42 pm U.S. ET | April 23, 2014
Jaguar, Land Rover and Ford saw their blue-sky multiples increase in the second half, according to a study by a dealership buy/sell advisory firm. But BMW, Mini, Hyundai, VW and Mazda saw theirs decrease.... Read More »

 

2015 Ford Mustang order guide hints at key options

2:04 pm U.S. ET | April 23, 2014
The 2015 Ford Mustang order guide is now available to U.S. dealers and the options include a lot of familiar stuff such as racing stripes and tech packages.... Read More »

 

Asbury 1st-quarter sales, continuing-operations profit rise

3:00 pm U.S. ET | April 23, 2014
Asbury Automotive Group reported a 3 percent profit slide for the first quarter of 2014, but improvements in all parts of the business drove profits from continuing operations up sharply.... Read More »

 

Q&A

AutoNation swipes at third-party car sites as it builds digital footprint

3:26 pm U.S. ET | April 23, 2014
AutoNation wants to reduce its dependency on online lead generators and third-party shopping sites. The United States' largest dealership group plans to build up the group's Web sites to capture online shoppers, part of a multiyear, $100 million campaign to rebrand itself.... Read More »

 

Asbury to open 2 used-vehicle stores; COO to retire

7:35 am U.S. ET | April 23, 2014
Asbury Automotive said today it will open two stand-alone used-vehicle stores later this year. The company plans to open the two used-vehicle stores in Florida under the “Q auto” brand name.... Read More »

 

F&I results rise at 3 public retailers

12:01 am U.S. ET | April 23, 2014
The first publicly traded new-car dealership groups to report first quarter results -- AutoNation, Sonic Automotive and Asbury Automotive Group -- all reported higher average F&I revenue per vehicle, as part of a trend toward slow but steady improvement.... Read More »

 

Q&A

Mopar's F&I sales could spark 'almost 6 million' service visits

12:01 am U.S. ET | April 23, 2014
Mopar’s F&I product volume last year reached 1.5 million contracts in the United States and nearly 2 million contracts worldwide. That’s significant, Mopar chief Pietro Gorlier says.
... Read More »

 

JIM HENRY

Why Group 1 finds F&I a tougher sell overseas

12:01 am U.S. ET | April 23, 2014
Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says.... Read More »

 

AutoNation envisions quick, easy buying at digital store

12:01 am U.S. ET | April 23, 2014
When AutoNation fully rolls out its so-called digital storefront, the following scenario may not be all that far-fetched.... Read More »

 

Sonic Q1 profit falls 9% on weather, used-car start-up costs

11:30 am U.S. ET | April 22, 2014
Bad winter weather and costs associated with its standalone used-car store initiative contributed to a 9 percent drop in first-quarter profits for Sonic Automotive.... Read More »

 

NADA board member Don Chalmers dies

1:45 pm U.S. ET | April 21, 2014
Don Chalmers, an auto dealer who represented New Mexico on the board of the National Automobile Dealers Association and was chairman of NADA's government relations committee, died Sunday.... Read More »

 

Hale works on makeover of Jag, Land Rover image

12:01 am U.S. ET | April 21, 2014
Hundreds of employees at Jaguar Land Rover North America sport a green button saying “All In.” The button means they're committed to changing the British company's culture to focus on customer service and satisfaction, said Duke Hale, who was hired a year ago as vice president of customer service.... Read More »

 

New system, but no quick fix for GM

12:01 am U.S. ET | April 21, 2014
When General Motors last week unveiled a new way for dealers to order parts for the ignition-system recall, it reminded dealers of a hard truth: They'll be waiting for parts -- and placating impatient customers -- at least well into the autumn.... Read More »

 

Jackson: We'll get our own leads

12:01 am U.S. ET | April 21, 2014
CEO Mike Jackson put the big Internet shopping sites on notice last week: AutoNation is building Web products that will slash the number of leads the group's 229 stores get from AutoTrader, Cars.com, TrueCar and others.... Read More »

 

Blue sky high, acquisition action is, too

12:01 am U.S. ET | April 21, 2014
Auto dealers are scrambling to buy new stores despite record high dealership values. They figure the earlier they can buy before the next downturn, the sooner they’ll earn profits and pay down acquisition costs.... Read More »

 

Lincoln's China startup plans 20 stores by 2015

12:01 am U.S. ET | April 21, 2014
China is giving the 97-year-old Lincoln luxury brand a new lease on life. In a series of events last week, Lincoln launched a sleek new concept vehicle and a new retail vision. Lincoln will begin selling vehicles in China this fall, starting with eight stores in seven cities and growing to 20 dealerships by the end of the year. By the end of 2016, Lincoln plans to have 60 stores in 50 cities.... Read More »

 

Dealers

12:01 am U.S. ET | April 21, 2014
Dealers featured this week include Mohinder Singh of Carlsbad Volvo in Carlsbad, Calif.; Bruce, Todd and Amie Bennett of Bruce Bennett Nissan in Wilton, Conn., Tommy Smith, left, and Dustin Tyson of Riverside Chrysler-Jeep-Dodge-Ram in New Bern, N.C., and members of the Iowa Automobile Dealers Association.... Read More »

 

BEST PRACTICES

Warren Henry hires help to hire the help

12:01 am U.S. ET | April 21, 2014
Warren Henry Auto Group hired an outside staffing agency to handle the 55 to 65 hourly employees who work in its detail shop and as porters.... Read More »

 

What can industry do to boost leases, residuals?

12:01 am U.S. ET | April 21, 2014
Interest rates, gasoline prices, unemployment and natural disasters are among the unpredictable forces that have an impact on the economy. In turn, the economy has an impact on leasing.... Read More »

 

AutoNation envisions quick, easy buying at digital store

12:01 am U.S. ET | April 19, 2014
When AutoNation fully rolls out its so-called digital storefront, the following scenario may not be all that far-fetched.... Read More »

 

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