Dealers

Group 1 Q2 profit tumbles 55% on Brazilian problems

9:47 am U.S. ET | July 24, 2014
Group 1 Automotive today said its second-quarter net income tumbled 55 percent from a year earlier to $16.9 million, dragged down by a struggling economy in Brazil which accounts for 8 percent of its revenue....
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Lithia Q2 profits hit record highs

8:39 am U.S. ET | July 23, 2014
Lithia Motors today reported the highest adjusted quarterly net income in the company's history -- a 29 percent surge to $35 million -- on higher revenues and cost controls....
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Suburban Collection buys BMW, Mercedes dealerships in Ann Arbor

4:08 pm U.S. ET | July 23, 2014
The Suburban Collection has acquired two more Michigan dealerships: BMW of Ann Arbor and Mercedes-Benz of Ann Arbor. The two dealerships were acquired from Sonic Automotive for an undisclosed amount....
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JIM HENRY

N.Y. Times story on subprime offers feds ammunition

12:01 am U.S. ET | July 23, 2014
A withering account of subprime auto lending in Sunday's New York Times reinforces bad stereotypes about used-car dealers, smears subprime lenders and their investors, takes out of context an increase in delinquencies and loan losses from record lows, and provides ammunition to auto finance industry critics in Washington....
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Sonic's Q2 profits triple on extraordinary items; expenses rise

12:18 pm U.S. ET | July 22, 2014
Sonic Automotive posted higher revenue and net profit during the second quarter, but expenses increased as the retailer continues to ready its launches of a new customer-experience initiative and standalone used-car stores....
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Asbury posts Q2 double-digit profit, revenue gains

7:07 am U.S. ET | July 22, 2014
Improving car sales and a double-digit revenue jump helped drive second-quarter profits up 33 percent at Asbury Automotive Group, as all parts of its business showed gains, the auto retailer said today....
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AutoNation preps for online sales

12:01 am U.S. ET | July 21, 2014
By Christmas, AutoNation Inc. customers will be able to initiate a vehicle purchase online....
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Credit union backs off ads blasting dealer reserve

12:01 am U.S. ET | July 21, 2014
A Florida credit union has backed off from an advertising and social medial campaign called “Expose the Truth,” which described dealer reserve as an unfair trade practice most consumers don’t know about....
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Group 1 acquires Munday dealerships in Houston

3:59 pm U.S. ET | July 21, 2014
Group 1 Automotive, the third-largest auto dealer group based in the United States, has acquired Houston dealerships Munday Chevrolet and Munday Mazda, the company said today....
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Dealers' phones ring again

12:01 am U.S. ET | July 21, 2014
Because of the ubiquitous smart phone, car shoppers are flooding dealerships with phone calls instead of e-mail inquiries. The sudden change in consumer behavior has dealers pushing employees to brush up on an ancient skill: answering the telephone....
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Automotive News to host dealer conference at NADA

12:01 am U.S. ET | July 21, 2014
Automotive News will host a half-day conference devoted to dealer issues on Jan. 22 in San Francisco at the Hotel InterContinental during the National Automobile Dealers Association convention....
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Honda asks dealers to add service

12:01 am U.S. ET | July 21, 2014
Griffith Motors is one of hundreds of Honda and Acura dealers that American Honda is asking to add service bays, hours or both by 2018 to accommodate the automaker's forecast of rising sales....
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Fewer bosses, Disney savvy, $2 idea lift stores

12:01 am U.S. ET | July 21, 2014
A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. And an Audi dealership uses $2 envelopes to ensure the return of $300 key fobs. These are just a few ways three California auto retailers are boosting sales, customer satisfaction and profits....
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75 with Lincoln

Dealers

12:01 am U.S. ET | July 21, 2014
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BEST PRACTICES

Cue from airlines helps dealership cut no-shows

12:01 am U.S. ET | July 21, 2014
Robert Karbaum came up with is an "appointment boarding pass" to send to customers' smartphones via text or e-mail minutes after they schedule a test drive....
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Dealership Buy/Sell

12:01 am U.S. ET | July 21, 2014
This Automotive News feature lists recent dealership acquisitions as reported by brokers, official announcements and news media....
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AutoNation's Q2 net rises 12% on 8% revenue gain

7:30 am U.S. ET | July 17, 2014
AutoNation posted a double-digit gain in second-quarter net income but fell shy of analysts’ profit expectations as digital investment drove expenses higher. The nation’s largest dealership group said its net profit rose 12 percent, helped by gains in all of its business units....
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Penske Automotive hikes cash dividend again

11:54 am U.S. ET | July 16, 2014
Penske Automotive Group raised its quarterly cash dividend to 20 cents per share from 19 cents....
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JIM HENRY

Credit union ads highlight misperceptions of dealer reserve

12:01 am U.S. ET | July 16, 2014
A Florida credit union's ad campaign beating up dealers and auto lenders for “rate markups” is hard to look at, but dealers and lenders should check it out to see what they're up against in terms of public perception and in case the approach catches on in other states....
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Owners of 8 N.J. dealerships settle claims of deceptive practices for $1.8 million

3:14 pm U.S. ET | July 15, 2014
Eight dealerships in New Jersey owned by Carmelo and Ignazio Giuffre have reached a $1.8 million settlement with the state's Division of Consumer Affairs....
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How Warren Buffett landed a new Cadillac (and not a Subaru)

3:43 pm U.S. ET | July 15, 2014
Warren Buffett, who has made himself and others enormously wealthy by investing in some of America's biggest brands, says he's not about to go with Japanese wheels, no matter how practical....
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Jay Leno, Jeb Bush to keynote 2015 NADA convention

2:03 pm U.S. ET | July 14, 2014
Former Florida Governor Jeb Bush and former “Tonight Show” host Jay Leno will be among the keynote speakers at the 2015 National Automobile Dealers Association Convention & Expo in San Francisco....
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Sonic bets new plan will transform automotive retailing

12:01 am U.S. ET | July 14, 2014
After more than five years of internal work and external carping, Sonic Automotive Inc. will roll out a bet-the-farm change in how it sells cars late this month at a Toyota store in Charlotte, N.C....
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Sales staff gets more responsibility, higher pay

12:01 am U.S. ET | July 14, 2014
Sonic Automotive began preparing its staff for the transition to its One Sonic-One Experience initiative years ago when it launched its playbooks, or guides for how to sell used cars, new cars, finance and insurance products and so on....
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BEST PRACTICES

Courting consumers, moving 'smelly tires'

12:01 am U.S. ET | July 14, 2014
For customers and employees alike, the change in culture over the past few years at Bozard Ford-Lincoln in St. Augustine, Fla., has been like a breath of fresh air....
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Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
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