Dealer Groups

Penske Q2 net income rises 18% on strong gains in all segments

7:30 am U.S. ET | July 30, 2014
Penske Automotive Group's second-quarter net income rose 18 percent from the year-earlier period on higher new- and used-vehicle unit sales....
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Asbury to double pace of acquisitions

12:01 am U.S. ET | July 28, 2014
Asbury Automotive Group Inc. aims to double its acquisition pace during the next 18 months....
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Sonic 'delighted' with rollout of new retail plan

12:01 am U.S. ET | July 28, 2014
Three weeks into Sonic Automotive Inc.'s customer experience initiative, customers at the pilot store aren't yet getting the promised iPad-enabled transaction with a single salesperson....
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Happy Birthday, boss! Let's open some stores

12:01 am U.S. ET | July 28, 2014
Sonic Automotive President Scott Smith will get a special birthday present when he turns 47 on Oct. 20....
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AutoTrader, Manheim rebrand under 1 entity

12:01 am U.S. ET | July 28, 2014
Manheim and AutoTrader Group, a collection of digital automotive marketing and software companies, are now part of Cox Automotive, according to signage and employees representing the various properties at a recent trade show in Florida. Sandy Schwartz, president of Manheim and AutoTrader Group, leads the new entity....
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AutoNation: Recalls crimp service

12:01 am U.S. ET | July 26, 2014
The record recalls this year are creating capacity bottlenecks in the service shops of the country's largest new-vehicle dealership group....
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JAMES B. TREECE

GM, Manheim kiss and make up

3:15 pm U.S. ET | July 25, 2014
About four years after a spat strained their business relations, GM and auction company Manheim are starting to kiss and make up....
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Strong retail demand to push U.S. sales higher in July, forecasts show

2:44 pm U.S. ET | July 25, 2014
The pace of auto sales has slowed slightly after hitting an eight-year high in June, but July's results are still shaping up to be at least 9 percent better than a year ago, according to four forecasts. The seasonally adjusted, annualized selling rate is expected to hit 16.6 million to 16.8 million, projections show....
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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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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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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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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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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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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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Used-vehicle prices soften, demand strong

12:01 am U.S. ET | July 14, 2014
Used-vehicle prices are beginning to soften as more units come off lease, but they remain above last year's levels and aren't depreciating as fast as in pre-recession days....
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Shopping sites ratchet up battle against bots

12:01 am U.S. ET | July 13, 2014
Internet bots, nefarious software code masquerading as human Web users, are invading online car shopping sites and skewing traffic and other user data. Distorted data often confounds dealerships that are seeing heavy activity on third-party sites but not receiving a proportionate number of leads....
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Retail demand, favorable credit keep wholesale used-vehicle prices high

4:29 pm U.S. ET | July 8, 2014
Wholesale prices of used vehicles in June fell 1 percent from the previous month’s level but were 4 percent higher than in June 2013, according to the Manheim Used Vehicle Value Index released today....
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Execs find big fish to fry in small pond

12:01 am U.S. ET | July 7, 2014
Executives moving out of top managerial posts at carmakers are finding a nice place to land these days in the industry's high-potential digital marketing world....
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Top black dealer groups' sales up

12:01 am U.S. ET | July 7, 2014
The nation's 60 largest black-owned dealership groups increased revenue 11 percent last year from 2012 to $7.99 billion, Black Enterprise magazine reported....
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