Recent Stories
Used Vehicles
Used-vehicle prices reach record in October, J.D. Power says

Through October, used-vehicle prices were on average 37 percent higher than in 2020.
Group1 sized right
Group 1 selling its operations in Brazil

Group 1 Automotive Inc. has decided to divest itself of its Brazilian operations after failing to achieve what it felt was sufficient scale for its auto retail operations.
U.S. dealership lot
Dealerships have already beat 2020's profit record

The average dealership's operating profit more than quintupled through the first nine months of the year to $1.8 million.
Carvana adjusts search results to handle demand

The used-car giant has reduced the number of vehicles shown to customers in search results to better manage operations.
used cars
Wholesale used-vehicle prices continue to rise, against the seasonal norm

Cox Automotive's Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim's U.S. auctions, was up 38 percent in October compared with the same month in 2020.
Honda sales
Average dealership profit on pace to shatter 2020 record, NADA data shows

According to the NADA, the average U.S. dealership recorded net pretax profit of $3 million through September. That was more than double the $1.3 million in net pretax profit reported for the first nine months of 2020.
Toby Russell
Toby Russell to step down as Shift co-CEO in February

George Arison, the other co-CEO, will become the sole chief executive. Most of Russell's day-to-day operational responsibilities are transitioning to Shift President Jeff Clementz.
Carvana vending machine
Carvana, struggling with robust trade-ins, pandemic, posts Q3 loss

Revenue at the used retailer more than doubled to $3.48 billion in the latest period, on retail vehicle sales that increased 74 percent to 111,949.
Group 1's Acceleride
Group 1's AcceleRide proving crucial in inventory crunch — and beyond

Group 1 Automotive has found that its digital retailing platform has helped to grow its footprint and add cars and trucks to its lots.
For public retailers, low vehicle supply is worrying

While the microchip shortage is expected to last into next year, retailers are anxiously waiting for proof from automakers that the worst of the crisis is over.
Group 1 Q3 report
Group 1 posts Q3 profit surge, updates M&A activity

The solid performance came in spite of a 12 percent drop in companywide new-vehicle sales as Group 1's inventory dwindled because of the global microchip shortage
Texas dealer John Luciano
Dealers' questions swirl as EV demand rises

While demand for electric vehicles is growing, it still seems outpaced by some automakers' ambitious plans for such products.
MELRAPTONHONDA-MAIN_i.jpg
Group 1, Sonic Automotive acquire dealerships in single-store transactions

Group 1 Automotive Inc. acquired a northern California Honda dealership, while Sonic Automotive Inc. bought a Chrysler-Dodge-Jeep-Ram store in Texas.
Vroom targets more sales, customers with UACC deal

The acquisition of the captive lending arm may help Vroom increase sales and profits.
Bart Reagor
Bart Reagor found guilty of making false statement to bank, reports say

The co-principal of the Reagor Dykes Auto Group in Texas, which went bankrupt in 2018 amid accusations of widespread floorplan fraud, was found guilty by a federal jury of one count of false statement to a bank.