Dealer Groups

Used-car loophole for recalls tightens up

12:01 am U.S. ET | Feb. 8, 2016

While a proposed federal law to close the used-car loophole is dead for now, efforts to keep unrepaired recalled vehicles out of circulation are stirring. And with powerful players mobilizing on the issue in an era of high-volume, high-profile recalls, dealers and automakers may face pressure to revisit their policies....
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AutoNation's recall policy disrupts used-vehicle business

12:01 am U.S. ET | Feb. 8, 2016

AutoNation's recall policy challenged its used-vehicle business in the fourth quarter. The disruptions will continue through the first half as the retailer continues to expand its used-vehicle inventory....
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Group 1 buys U.K. dealership group, sells 3 U.S. stores

4:30 pm U.S. ET | Feb. 5, 2016

Group 1 Automotive has acquired the Spire Automotive Group of 12 dealerships in the Greater London area. It also has divested three dealerships in the U.S....
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Margin squeeze hurts used-vehicle prices, economist says

1:03 pm U.S. ET | Feb. 5, 2016

The Manheim Used Vehicle Value Index dipped in January, registering only its second decline in the last eight months....
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Asbury income, revenues up in Q4; vehicle margins down

11:20 am U.S. ET | Feb. 4, 2016

Asbury Automotive Group said net income soared to $41.1 million in the fourth quarter of 2015 as revenues rose 9.1 percent to $1.64 billion....
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CarMax CEO Tom Folliard to retire by end of year

10:34 am U.S. ET | Feb. 1, 2016

CarMax CEO Tom Folliard will retire by the end of the year, the used-car retailer said today. He will be succeeded by Bill Nash, the executive vice president of human resources....
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Surge in end-of-lease cars seen pressuring prices in record sales year

6:51 am U.S. ET | Feb. 1, 2016

A surge in cars and SUVs coming out of leases have analysts predicting pressure on prices of both used and new models, curbing investor enthusiasm over sales records projected for this year....
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Sales reporting transparency? Yeah, right

12:01 am U.S. ET | Feb. 1, 2016

After a nearly six-year run, AutoNation will stop reporting monthly sales. Why? “I've given up,” says CEO Mike Jackson....
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AutoNation cuts inventory, jobs

12:01 am U.S. ET | Feb. 1, 2016

AutoNation will trim marketing costs and vehicle inventory by about 10 percent from year-end levels. It already has cut jobs in light of increased discounting, plateauing sales and declining vehicle margins, all of which trimmed its fourth-quarter earnings....
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Cox Automotive acquires stake in F&I company

1:16 pm U.S. ET | Jan. 28, 2016

Cox Automotive has acquired a minority interest in SilverRock Holdings, which owns three service-contract and insurance companies. The purchase will give dealers affiliated with GO Financial and NextGear Capital the ability to offer consumers extended service contracts, GAP and other insurance, as well as vehicle-theft recovery products....
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AMY WILSON

BLOG: Sales reporting transparency? Yeah, right

5:32 pm U.S. ET | Jan. 28, 2016

After a nearly six-year run, AutoNation will stop reporting monthly sales. Why? “I've given up,” CEO Mike Jackson says....
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AutoNation's Q4 net drops 16% on discounts, VW charge

7:45 am U.S. ET | Jan. 28, 2016

AutoNation's net income dropped 16 percent to $97.5 million in the fourth quarter, even as revenues rose 5.8 percent to $5.34 billion, the company said today. The decline was due largely to increased discounting and per-vehicle margin pressure....
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Lithia's DCH makes first acquisition

3:36 pm U.S. ET | Jan. 28, 2016

Lithia Motors completed the first purchase through its DCH Auto Group with the acquisition of Riverside Subaru in Riverside, Calif., the company said today....
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At dealership group, it pays to pay bills

12:01 am U.S. ET | Jan. 25, 2016

Kuni Automotive's centralized accounting department eliminated the need to sign 90,000 checks per year, saving staffers' time. Plus, its new system earns $15,000 a month in credit-card rebates....
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'Momma' keeps dealerships' workers in line

12:01 am U.S. ET | Jan. 24, 2016

Carolyn Cross has risen from typist at a dealership to GM of the No. 10 Ford store in the country. Don't count her out when she says she wants to make Joe Myers Ford-Lincoln, part of Berkshire Hathaway Automotive, No. 1....
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HANNAH LUTZ

BLOG: Efficiency, compliance still trump shorter visits to F&I office

12:30 pm U.S. ET | Jan. 20, 2016

Speed in the F&I office, while a priority, may not be dealerships' No. 1 goal anymore....
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2016 AUTOMOTIVE NEWS WORLD CONGRESS

Peugeot tops rivals in shareholder value

12:01 am U.S. ET | Jan. 18, 2016

France's Peugeot SA outpaced rival global automakers in creating value for its shareholders over the past one and three years....
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Big-bucks trucks are part of the luxury market, says Autonation CEO

12:01 am U.S. ET | Jan. 18, 2016

Extremely pricey pickups should be counted as premium vehicles, says AutoNation CEO Mike Jackson. And German luxury makers shouldn't try to get into that luxury segment, he adds....
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As sales lose sizzle, is industry prepared?

12:01 am U.S. ET | Jan. 16, 2016

After six years of rapidly rising car sales, the road ahead for the U.S. auto industry is going to be much tougher. Sales may set another record in 2016, but the rate of growth will almost certainly fall to the low single digits, and that may only come by squeezing margins....
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2016 AUTOMOTIVE NEWS WORLD CONGRESS

Auction head urges retailers to see themselves as a consumer's resource

6:30 pm U.S. ET | Jan. 13, 2016

Lead the retail transformation by staying focused on connecting people to the right car, the president of the nation's largest auto auction company says. That means retailers should see themselves as a resource for consumers....
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Manheim economist sees used-vehicle prices easing in 2016

3:22 pm U.S. ET | Jan. 8, 2016

The number of off-lease vehicles slated to hit the market this year is expected to grow by more than 20 percent, but used-vehicle prices will decline only modestly in 2016, predicts Tom Webb, Manheim chief economist....
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Penske enters Japan with equity buy into luxury dealership group

5:00 pm U.S. ET | Jan. 7, 2016

Penske Automotive Group, making a foray into Japan, acquired a 49 percent equity stake in the Nicole Group, a luxury dealership group with operations in Tokyo and Kanagawa....
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Manheim Canada acquires 100% of partnership auction site

3:30 pm U.S. ET | Jan. 7, 2016

Cox Automotive Canada, through its Manheim Canada operation, has acquired 100 percent ownership of Manheim Source Edmonton, in Edmonton, Alberta. The auction site has been renamed Manheim Edmonton....
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Texas car salesman kidnapped during test drive, escapes and fights back

2:36 pm U.S. ET | Jan. 5, 2016

What was supposed to be a typical test drive for a Houston car salesman turned into a violent kidnapping that ended with him escaping and two suspects fleeing....
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Carfax owner buys Canadian vehicle-history provider for $460 million

11:48 am U.S. ET | Dec. 28, 2015

IHS said today it has acquired Carproof, a Canadian used-vehicle history provider, for $460 million....
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