Group 1 Q2 net falls 16% on energy markets

Group 1 said its second-quarter net income fell 16 percent on weakness in US markets impacted by low energy prices, particularly in Houston.

Penske Automotive says Q2 net income rises 14 percent

Penske Automotive reported a 14 percent gain in second-quarter net income, crediting increased business in used-vehicle sales, service and parts and finance and insurance.

UPDATED: 7/25/17 4:47 pm ET - adds details, data officer
UPDATED: 7/25/17 4:15 pm ET - adds stock close
Asbury's Q2 net drops 13% to $32 million

Asbury Automotive's second-quarter net income dropped 13 percent to $31.9 million on lower profit margins per new and used vehicles sold.

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Sent early Monday mornings, this newsletter contains a summary of key stories from our weekly edition.

Blaze in the bays

About 30 vehicles belonging to service customers were destroyed in a blaze at a Michigan dealership. Officials said the fire was caused by spilled cleaning supplies.

Giving in to Demon temptation

Some, but not all, Dodge dealers are seeking market adjustments that would nearly double the price for the limited-edition drag racer.

GPB thrives under the radar

GPB Capital, a private-equity group, has quietly grown to 66 dealerships. Now they're ready to start talking about who they are and how they operate.

Suppliers still wary of border tax

Many Republicans have expressed skepticism or opposition toward the border adjustment tax, but House leaders still are expected to pursue the tax.

Sawyers receives NAMAD award

Former Automotive News Staff Reporter Arlena Sawyers received a lifetime achievement award from the National Association of Minority Automobile Dealers.

Dealer anniversaries

Dealers featured this week include David and Rick Parker, co-owners of Parker Cadillac in Little Rock, Ark.; and John Carroll of Ed Carroll Motor Co. in Fort Collins, Colo.