While dealerships have posted some of their biggest profits ever in recent years, many dealers are reluctant to spend on expensive building projects unless a store is too small or otherwise in obvious need of refreshing.

Rising up on a busy stretch of Peachtree Industrial Boulevard in the inner-ring Atlanta suburb of Chamblee is the new home of Hennessy Ford-Lincoln Atlanta. There was no arguing that it needed to happen.

Franchised car dealers have watched online used-vehicle retailer Carvana expand rapidly since it was founded in 2013.

Net income at the biggest U.S. dealership group was dragged down by a sharp drop in auto sales, while an effort to focus on new-vehicle margins showed signs of paying off.

Some dealers say they'll no longer chase automakers' targets in a shrinking market. And one is working to help dealers fight back against the reviled incentives.

Even as dealers wrestle with questions about what the future may bring, they shouldn't forget about the insurance policy that a robust parts-and-service operation can provide.

Predictions that new mobility services and autonomous vehicle technology will cut into vehicle ownership aren't dampening the National Automobile Dealers Association's forecast for new-vehicle sales during the next several years.