Dealer Groups

Cars.com drawing interest from AutoTrader owners Cox, Apax, report says

7:36 am U.S. ET | March 12, 2014
Cox Enterprises, the media holding company, and London-based buyout firm Apax Partners, are interested in bidding for auto-sales Web site Cars.com, people with knowledge of the matter told Bloomberg.... Read More »

 

YOU'RE WHO??!!??

Larry Miller Group CEO dons fake beard, joins Utah Jazz Dunk Team for 'Undercover Boss'

12:01 am U.S. ET | March 10, 2014
The good-natured guy with the fake beard and prosthetic beer belly hidden under his shirt was a bit slow selling the fries in the concession stand. But Jazz boss Greg Miller, CEO of Larry H. Miller Group of Cos., didn't have to worry about landing a job.... Read More »

 

Income tax refunds, easy credit buoy used-vehicle prices

3:16 pm U.S. ET | March 7, 2014
Used-vehicle prices, bolstered by consumers using their income tax refunds to buy used cars and trucks, rose 0.8 percent in February from January and 1.1 percent from February 2013, the Manheim Used Vehicle Value Index showed today.... Read More »

 

AutoNation's U.S. new-vehicle retail sales rise 4% in February

11:21 am U.S. ET | March 4, 2014
AutoNation's U.S. new-vehicle retail sales rose 4 percent in February from a year earlier to 21,987 units. It was the dealership group's top-selling February since 2007.... Read More »

 

AutoNation aims to beef up service

12:01 am U.S. ET | March 3, 2014
AutoNation Inc., the nation's largest dealership group, plans to expand its service business by year end, adding 400 technicians and increasing its express service operations to 180 stores from 80 now.... Read More »

 

Penske to open 7th U.S. Porsche store

12:34 pm U.S. ET | Feb. 28, 2014
Penske Automotive Group signed a letter of intent to open its seventh Porsche dealership in the United States. The store is scheduled to open in Davie, Florida, in the second quarter of 2015.... Read More »

 

Report: CPO sales could double in 3-5 years

12:01 am U.S. ET | Feb. 24, 2014
U.S. new-vehicle sales slipped in January, but certified used-vehicle sales ushered in the new year with double-digit percentage increases.... Read More »

 

Lithia, Sonic: Service is key to '14 growth

12:01 am U.S. ET | Feb. 24, 2014
Lithia and Sonic Automotive, the nation's third-largest dealership group, see significant opportunities for revenue growth this year by improving customer experience and increasing customer-pay, as opposed to factory warranty, service business. The dealership groups share a goal, but they have different plans to achieve it.... Read More »

 

Sonic extends hours to make up for time lost to weather

3:15 pm U.S. ET | Feb. 21, 2014
Sonic Automotive is extending store hours in parts of the country hit by severe winter weather in an effort to make up vehicle sales and service revenue lost during the storms.... Read More »

 

ADESA to open more online auctions to more dealers

3:27 pm U.S. ET | Feb. 20, 2014
ADESA, the nation's second largest auto-auction company, this year will focus on building online auctions that are open to all dealers, its parent company's top executive said.... Read More »

 

Lithia reports 38% rise in Q4 net income on better cost controls

10:49 am U.S. ET | Feb. 19, 2014
Lithia Motors today reported a 38 percent gain in fourth-quarter net income along with the highest annual revenue in company history, as it credited continued cost controls and robust sales of new and used vehicles.... Read More »

 

JIM HENRY

Auto loans just keep growing

12:01 am U.S. ET | Feb. 19, 2014
Auto loans had another double-digit growth spurt in the fourth quarter, Experian Automotive reports.
Total auto loan balances outstanding reached $798.5 billion in the quarter, an increase of 11 percent from the 2012 period and the highest total since Experian started publishing its numbers in 2007. The third-quarter total of $782.9 billion had also been a high, up 15 percent from the same 2012 period.... Read More »

 

Sonic posts 8% drop in Q4 profit, but expects new pricing strategy to prevail

8:52 am U.S. ET | Feb. 19, 2014
Sonic Automotive today posted an 8 percent slide in fourth-quarter net income, but the retailer says it continued to gain traction on a new pricing strategy that some of its stores have struggled with.... Read More »

 

Group 1 warns weather will dent 1st-quarter sales, profits

5:33 pm U.S. ET | Feb. 18, 2014
Group 1, citing severe winter weather that has forced stores to close and showroom traffic to decline, warned Tuesday that its first-quarter earnings will come in lower than expected.... Read More »

 

Public retailers scout for U.S. stores

12:01 am U.S. ET | Feb. 17, 2014
Public retailers Group 1 Automotive Inc. and Asbury Automotive Group see opportunities to buy more U.S. dealerships this year and are wasting no time getting started. Group 1 acquired Ford and Hyundai stores in Escondido, Calif., on Jan. 21. The stores are expected to generate $135 million in annual revenues. In early February, Asbury said it bought a Land Rover store in Greenville, S.C., that is expected to add $20 million in annual revenues.... Read More »

 

Penske reports record net income for Q4 and year

11:47 am U.S. ET | Feb. 13, 2014
Penske Automotive Group reported its highest fourth-quarter and full-year net income in company history, driven by higher retail sales and cost controls. For the fourth quarter, Penske's net income rose 21 percent to $59.7 million, as revenue increased 15 percent to $3.86 billion.... Read More »

 

Super Bowl XLVIII: The post-game stats

12:01 am U.S. ET | Feb. 10, 2014
Now that this year's Super Bowl commercial frenzy is over, what did automakers get for the $133,333 they plunked down for each second of airtime?... Read More »

 

Vicious circle: Saving money by skipping training is no bargain

12:01 am U.S. ET | Feb. 10, 2014
Chances are those new auto dealership sales hires won't be around long enough to need training. But failing to train them is one reason they won't be around.... Read More »

 

AutoNation, Asbury boost spending plans

12:01 am U.S. ET | Feb. 10, 2014
Two of the nation's largest publicly owned retailers are preparing to invest more in their businesses in 2014 than they did last year, according to numbers released with those companies' 2013 earnings reports.... Read More »

 

Group 1's Q4 net income, revenue rise despite challenges

9:09 am U.S. ET | Feb. 5, 2014
Group 1 Automotive said today its fourth quarter and 2013 net income and revenue grew despite challenges to new- and used-vehicle profits in the United States. The auto retailer saw profit gains from its parts and service business and finance and insurance sales.... Read More »

 

Serra Automotive acquires GM dealership in suburban Nashville

4:07 pm U.S. ET | Feb. 4, 2014
Michigan's Serra Automotive said today it has acquired the largest-volume General Motors dealership in Tennessee, Tom Bannen Chevrolet-Buick-GMC. Terms of the deal were not released.... Read More »

 

Asbury Auto profit rises 18% in Q4

7:04 am U.S. ET | Feb. 4, 2014
Rising volume, higher revenues and double-digit gross profit gains in all areas of the business lifted Asbury Automotive Group's net income 18 percent during the fourth quarter to $26.9 million.... Read More »

 

AutoNation could do big deals -- or none

12:01 am U.S. ET | Feb. 3, 2014
AutoNation Inc. could add as much as $2 billion in annual revenue through acquisitions in 2014 -- but CEO Mike Jackson isn't setting that as a target.... Read More »

 

Web data supplier alerts dealers to privacy pitfalls

12:01 am U.S. ET | Feb. 3, 2014
Web data tracking opens new marketing opportunities to auto retailers -- but it also requires new privacy safeguards, says one of the sector's key players. Dataium, a Nashville venture that monitors between 16 million and 20 million online vehicle shoppers a month, met with retailers last week at the NADA convention here to show them what is possible -- and to urge them to treat customer data carefully.... Read More »

 

ADESA: Private-label auctions will grow

12:01 am U.S. ET | Feb. 3, 2014
ADESA Inc., the nation's second-largest vehicle auction company, has built a custom trading network that enables groups such as Bob Rohrman Auto Group, which has dealerships in Indiana and Illinois, to trade vehicles among their own stores, says CEO Stephane St-Hilaire.... Read More »

 

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
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