Dealer Groups

APRIL U.S. SALES

U.S. sales on track to rise 9% in April, 2 forecasts show

3:44 pm U.S. ET | April 24, 2014
Auto sales are on pace to rise 9 percent in April from a year ago, as warmer weather coaxes out more shoppers who stayed home during the unusually harsh winter, according to two forecasts released today.... Read More »

 

Penske posts record continuing-operations income in Q1

7:33 am U.S. ET | April 24, 2014
Penske Automotive Group reported the highest quarterly income from continuing operations in the company's history.... Read More »

 

Lithia reports record Q1 profit, 19% revenue increase

8:38 am U.S. ET | April 24, 2014
Lithia Motors reported record first-quarter income on increased customer-pay service work and an increase in vehicle sales.... Read More »

 

Group 1 Q1 profit rises 7%, revenue up 15%

10:21 am U.S. ET | April 24, 2014
Group 1 Automotive Inc. reported first-quarter net income of $31.3 million, a 7 percent improvement over the same quarter a year ago. The retailer's revenue rose 15 percent to $2.3 billion.... Read More »

 

Asbury 1st-quarter sales, continuing-operations profit rise

3:00 pm U.S. ET | April 23, 2014
Asbury Automotive Group reported a 3 percent profit slide for the first quarter of 2014, but improvements in all parts of the business drove profits from continuing operations up sharply.... Read More »

 

Q&A

AutoNation swipes at third-party car sites as it builds digital footprint

3:26 pm U.S. ET | April 23, 2014
AutoNation wants to reduce its dependency on online lead generators and third-party shopping sites. The United States' largest dealership group plans to build up the group's Web sites to capture online shoppers, part of a multiyear, $100 million campaign to rebrand itself.... Read More »

 

Asbury to open 2 used-vehicle stores; COO to retire

7:35 am U.S. ET | April 23, 2014
Asbury Automotive said today it will open two stand-alone used-vehicle stores later this year. The company plans to open the two used-vehicle stores in Florida under the “Q auto” brand name.... Read More »

 

JIM HENRY

Why Group 1 finds F&I a tougher sell overseas

12:01 am U.S. ET | April 23, 2014
Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says.... Read More »

 

Sonic Q1 profit falls 9% on weather, used-car start-up costs

11:30 am U.S. ET | April 22, 2014
Bad winter weather and costs associated with its standalone used-car store initiative contributed to a 9 percent drop in first-quarter profits for Sonic Automotive.... Read More »

 

Jackson: We'll get our own leads

12:01 am U.S. ET | April 21, 2014
CEO Mike Jackson put the big Internet shopping sites on notice last week: AutoNation is building Web products that will slash the number of leads the group's 229 stores get from AutoTrader, Cars.com, TrueCar and others.... Read More »

 

Blue sky high, acquisition action is, too

12:01 am U.S. ET | April 21, 2014
Auto dealers are scrambling to buy new stores despite record high dealership values. They figure the earlier they can buy before the next downturn, the sooner they’ll earn profits and pay down acquisition costs.... Read More »

 

AutoNation envisions quick, easy buying at digital store

12:01 am U.S. ET | April 19, 2014
When AutoNation fully rolls out its so-called digital storefront, the following scenario may not be all that far-fetched.... Read More »

 

AutoNation says Q1 net income rose 15% to $95.1 million

7:11 am U.S. ET | April 17, 2014
Despite 10 weeks of problematic winter weather to start the year, a late March rebound in dealership traffic helped drive AutoNation's net income 15 percent higher in the first quarter of 2014 from the year-earlier period, the company said today.... Read More »

 

AutoNation stepping away from third-party leads

7:15 am U.S. ET | April 17, 2014
AutoNation, tired of paying high prices for online leads, plans to de-emphasize third-party lead providers such as TrueCar, AutoTrader.com and Cars.com, CEO Mike Jackson says. He says he will strengthen AutoNation's Web site and digital presence to build traffic and sales.... Read More »

 

JASON STEIN

Krafcik's back: Many projects, scads of ideas

12:01 am U.S. ET | April 14, 2014
Somewhere between a conversation on the future of retailing and the excitement over meeting a big investor for a lunch in Century City, John Krafcik has discovered something incongruous in the way the world works.... Read More »

 

ADP Dealer Services to spin off, go public

12:01 am U.S. ET | April 14, 2014
Hot U.S. auto sales and the rise of online shopping have triggered a frenzy of merger and capital-raising activities among auto-retailing vendors.... Read More »

 

BEST PRACTICES

JM Lexus drops middleman to speed sales

12:01 am U.S. ET | April 14, 2014
Eliminating the middleman from negotiating has helped JM Lexus cut the time a customer spends in the store after deciding to buy a specific vehicle to 2.5 hours from 3.5 hours, including delivery. It also is among the reasons that the Margate, Fla., dealership has kept its title as the world's largest-volume seller of new Lexus vehicles for 22 straight years.... Read More »

 

Mustang made Galpin Motors a power player

8:32 am U.S. ET | April 11, 2014
In early 1964, Galpin Motors was a small dealership with a two-car showroom in San Fernando, Calif., northwest of Los Angeles. Then the Mustang thundered into the Ford lineup and nothing would be the same.... Read More »

 

ADP Dealer Services to spin-off and go public

11:07 am U.S. ET | April 10, 2014
ADP Dealer Services, a dealer software giant, is poised to become an independent public company, according to a statement today by parent company ADP. The board of directors of ADP approved the spinoff, the statement said.... Read More »

 

New-vehicle sales driven by off-lease volume, Manheim analyst says

7:42 am U.S. ET | April 8, 2014
New-vehicle sales increases are being supported by consumers returning to the market as their vehicle leases expire, not just pent-up demand from the recession years, said Tom Webb, chief economist at Manheim.... Read More »

 

GM dealers field calls, manage inventory while waiting for recall parts

4:12 pm U.S. ET | April 8, 2014
General Motors estimates repairs to 2.6 million small cars affected by a massive recall will not start until next week -- not this week as originally expected. Some dealers are fielding dozens of calls daily from customers wanting to know when their car will be fixed.... Read More »

 

TrueCar pairs Krafcik, dealers

12:01 am U.S. ET | April 7, 2014
Now that John Krafcik is on the TrueCar Inc. board of directors and the company has announced plans for an initial public offering of stock, the former CEO of Hyundai Motor America says he's eager to start talking with dealers.... Read More »

 

AutoNation wants more service lane hospitality

12:01 am U.S. ET | April 7, 2014
AutoNation Inc., the country's biggest dealership group, is recruiting service advisers among restaurant waiters and other service-industry workers, part of a new plan to reduce turnover in a key position.... Read More »

 

Krafcik at TrueCar: Hands-on, but not a full-time gig

5:39 pm U.S. ET | April 4, 2014
John Krafcik's role at TrueCar will be to help advise and consult the vehicle pricing and purchasing service, but it is not a full-time position.... Read More »

 

TrueCar files plans to go public with stock

5:37 am U.S. ET | April 4, 2014
Online auto-shopping service TrueCar said today it has filed a statement with the Securities and Exchange Commission to sell shares in an initial public offering. The company said it could raise as much as $125 million from the stock sale.... Read More »

 

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