Group 1's Q2 profits flat, hit by storm expensesThu, 28, Jul 2016
Group 1 Automotive's net income rose 0.6 percent in the second quarter to $46.6 million, largely buoyed by its parts and service and finance and insurance operations. Its new-vehicle retail sales in the U.S. declined, but profits per unit retailed rose.
Lithia's Q2 net rises 0.4% on used, service and parts gainsThu, 28, Jul 2016
Lithia Motors' second-quarter profit and revenue increased, mostly as a result of gains in volume of used-vehicle sales and service and parts business.
Sonic Automotive's Q2 net income surges 54%Tue, 26, Jul 2016
Sonic Automotive's adjusted net income surged 54 percent in the second quarter to $22.8 million, largely on cost controls, as revenue and new-vehicle unit sales fell.
Penske Automotive's Q2 net slips 0.7% on currency, interest costs.Thu, 28, Jul 2016
Penske Automotive's net income in the second quarter eased 0.7 percent from the year-earlier quarter to $95.0 million, on currency losses and higher floorplan and other interest costs.
GM unveils plan to add minority dealersMon, 25, Jul 2016
GM laid out an aggressive plan at the National Association of Minority Automobile Dealers conference to add 10 minority-owned dealerships per year, net, to its retail network for the next five years.
Cars.com will buy DealerRater to create review giantTue, 26, Jul 2016
Third-party shopping site Cars.com will buy DealerRater -- a platform where consumers can write reviews about salespeople, dealerships and service shops -- creating what Cars.com says will be the largest dealer-review forum in the industry.
NextGear Capital will finance vehicle purchases at CarMax auctionsWed, 27, Jul 2016
NextGear Capital will finance dealers' purchases of used vehicles at CarMax's 68 auction locations starting Aug. 8.
Federal grand jury probes FCA's U.S. salesTue, 26, Jul 2016
Some of Fiat Chrysler's U.S. dealers have begun receiving subpoenas to provide documents and or testimony to a federal grand jury in Detroit as part of a probe into the company's sales reporting practices.
FCA restates U.S. sales, says winning streak ended 3 years agoTue, 26, Jul 2016
Fiat Chrysler is changing the way it reports monthly U.S. sales to make the process more transparent, and as a result of the change, said its 75-month sales streak actually ended at 41 months, in September 2013.
Fairlane Ford dealership porter killed in parking lot incidentTue, 26, Jul 2016
A porter at Fairlane Ford in suburban Detroit died after he was pinned in between two trucks Tuesday morning. The Dearborn Police Department said other dealership employees found the man around 7 a.m. partially out of his door and pinned in between the truck he was moving and one he crashed into.
Store expects its used-car leasing to growMon, 25, Jul 2016
Dealer Wes Lutz took used-vehicle leasing into his own hands. He offers his customers leases on late-model used cars and trucks that, in some cases, can cut payments in half compared with purchasing a new vehicle of the same make and model.
Asbury Q2 net income falls 11%Tue, 26, Jul 2016
Asbury Automotive Group's net income in the second quarter dropped 11 percent to $36.7 million, the company said today as both new- and used-vehicle sales dropped. Revenue dipped 4 percent to $1.627 billion. Asbury said the drop was due mainly to “strategic divestitures” of select dealerships in the second half of 2015.