Dealer Groups

CarMax's U-turn: A return to Web leads

12:01 am U.S. ET | Oct. 20, 2014
Used-car powerhouse CarMax has begun posting vehicle inventory again on AutoTrader.com and Cars.com after a 16-month hiatus. The shift underscores the challenge that new-car leader AutoNation faces in its effort to rely less on third-party lead sites....
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Bad feelings in Billings over deal veto

12:01 am U.S. ET | Oct. 20, 2014
GM nixed the sale of a Chevrolet store in Montana to former NADA Chairman Bill Underriner. The tale behind that deal - what happened before and after -- shows how the right-of-first-refusal option can sour relations between dealers -- and between dealers and the factory....
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AutoNation won't up and quit 3rd parties

12:01 am U.S. ET | Oct. 20, 2014
Mike Maroone, COO of AutoNation Inc., said the dealership group intends to proceed cautiously in reducing its reliance on third-party online shopping sites....
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Pickups defy fall in used-vehicle prices

1:59 pm U.S. ET | Oct. 10, 2014
In September, overall used-vehicle prices fell for the fifth month in a row, but prices of used pickups rose sharply. It’s all part of a healthy overall market, said Tom Webb, chief economist at auction giant Manheim....
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DAVID BARKHOLZ

In Chicago, Cox execs hear dealers' concerns -- and praise

10:26 pm U.S. ET | Oct. 9, 2014
vAuto's Access: Velocity conference has been an eye-opening experience for the senior management of Cox Automotive -- formerly the AutoTrader Group -- as well as the dealers attending....
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Landers starts up another dealership group

12:01 am U.S. ET | Oct. 6, 2014
Longtime Arkansas dealer Steve Landers said he simply likes to build dealership groups....
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'THIS IS JUST THE BEGINNING'

Buffett's Van Tuyl purchase puts top retailers in cross hairs

12:01 am U.S. ET | Oct. 6, 2014
When Warren Buffett signed a deal to buy Van Tuyl Group last week through his Berkshire Hathaway Inc. investment company, he clearly signaled that the top four dealership groups are in his sights. With Buffett at its helm, the country's fifth-biggest dealership group is about to get a lot bigger....
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BUFFETT | VAN TUYL DEAL

For Buffett, long drive to next Cadillac

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffet's Berkshire Hathaway Inc.'s purchase of the Van Tuyl Group means he probably won't be going back to Huber Cadillac, the Omaha, Neb., dealership where he bought a new XTS in May....
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BUFFETT-VAN TUYL DEAL

Reactions to Buffett-Van Tuyl deal

12:01 am U.S. ET | Oct. 6, 2014
Some reaction of the Warren Buffett, Van Tuyl deal from dealership groups and buy-sell groups....
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$4 billion deal? A win all around, experts say

12:01 am U.S. ET | Oct. 6, 2014
Experts in dealership buy-sells estimate Warren Buffett's Berkshire Hathaway Inc. paid $4 billion for Van Tuyl Group....
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BUFFETT | VAN TUYL DEAL

Buffett, already an investor, doubles down on autos

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffett's purchase of the Van Tuyl Group may be his first foray into auto retailing, but he already has bet heavily on the turnaround of General Motors....
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BUFFETT | VAN TUYL DEAL

How Van Tuyl wooed Buffett

12:01 am U.S. ET | Oct. 6, 2014
The path to Warren Buffett's acquisition of dealership giant Van Tuyl Group began more than 10 years ago when Larry Van Tuyl became one of Berkshire Hathaway's shareholders....
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BUFFETT | VAN TUYL DEAL

Van Tuyl grew from 1 store to a colossus

12:01 am U.S. ET | Oct. 6, 2014
The Van Tuyl Group of Phoenix, the nation's fifth-largest dealership group and the largest privately held one, had humble beginnings. Founder Cecil Van Tuyl got his start in the auto industry in the 1940s selling used cars in Kansas City, Mo....
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BUFFETT | VAN TUYL DEAL

Buffett opens door for more outsiders

12:01 am U.S. ET | Oct. 6, 2014
Billionaire Warren Buffett is paving the way for more outside investors to buy large dealership groups, experts said. Buy-sell advisers say they have seen growing interest from private-equity and outside investors in buying car dealerships, but in recent weeks, the pace of that interest is quickening....
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EDITORIAL

Warren Buffett, the Oracle of Automotive

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffett's investment is an endorsement of auto retailing and its prospects. And his statement that he's already looking to buy more dealerships will pour fuel on an already blazing buy-sell market....
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EDWARD NIEDERMEYER

Dissecting what it means when Buffett grabs the wheel

11:27 am U.S. ET | Oct. 4, 2014
Wherever Warren Buffett goes, investors follow. But for anyone who thinks now is the best time to buy into car dealerships, a quick reality check may be in order....
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BUFFETT | VAN TUYL DEAL

Berkshire Hathaway Auto CEO ready to accelerate growth

12:01 am U.S. ET | Oct. 4, 2014
As CEO of the future Berkshire Hathaway Automotive, Jeff Rachor is positioned to push the accelerator of growth. It's a role he knows well. Rachor has helped the Van Tuyl Group add a handful of stores annually since becoming COO in 2010....
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Van Tuyl founder was 'excited' about Buffett talks

12:01 am U.S. ET | Oct. 4, 2014
Larry Van Tuyl is looking to his father for inspiration on the next phase of his working life. Van Tuyl will become chairman of Berkshire Hathaway Automotive after the sale of his dealership group to Warren Buffett's investment company is complete....
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U.S. charges 5 former dealer employees with loan fraud conspiracy in Ala.

7:38 am U.S. ET | Oct. 3, 2014
Five former Serra Nissan employees have been charged in Birmingham, Ala., in connection with an alleged conspiracy to fraudulently increase loan approvals and car sales, the FBI said in a statement....
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Penske testifies Detroit, like GM, will be cleansed by bankruptcy

1:19 pm U.S. ET | Oct. 3, 2014
Detroit can benefit from a trip through bankruptcy, just as GM used court protection to turn itself around, Roger Penske on Friday told the judge weighing whether to approve the city's $7 billion debt-cutting proposal....
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Buffett to buy Van Tuyl Group, create Berkshire Hathaway Automotive

8:40 am U.S. ET | Oct. 2, 2014
Warren Buffett's Berkshire Hathaway agreed to buy Van Tuyl Group, the largest privately owned auto dealership group in the United States. The business, with 75 dealerships at the end of last year, will be renamed Berkshire Hathaway Automotive....
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Jackson says 2015 sales could be 'knocking on the door of 17 million'

12:31 pm U.S. ET | Oct. 2, 2014
Auto sales in the United States could hit nearly 17 million at the end of next year, AutoNation CEO Mike Jackson said today after reporting his company’s best third quarter since 2006 and a 16 percent bump in September new-vehicle sales....
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Lithia completes purchase of DCH Auto Group

5:48 pm U.S. ET | Oct. 1, 2014
Lithia Motors said it completed the purchase of DCH Auto Group, one of the largest buy-sell deals between dealership groups in recent history....
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Dealer software provider CDK goes public as it spins off from ADP

11:24 am U.S. ET | Oct. 1, 2014
CDK Global, formerly ADP Dealer Services, went public Tuesday as part of being spun off by parent Automatic Data Processing Inc., CDK Global announced today....
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AutoNation partners with Hennessey on performance upgrades

4:13 pm U.S. ET | Sept. 24, 2014
AutoNation, in a move to cater to the tuner crowd, began providing customers with performance upgrades at its 27 Chevrolet dealerships this month through a new partnership with aftermarket tuning house Hennessey Performance....
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