Strong 2018 sales expected
Rising interest rates and tightening credit are reasons for concern, but shouldn't cause new-vehicle sales to tumble, speakers at the Automotive News World Congress said.
View Article'18 may bring dealership buy-sell bonanza
Buy-sell advisers expect a booming year as some smaller-dealership owners realize they can't grow fast enough to compete and opt to sell, while larger players buy.
View ArticlePenske will look 'at every store we have'
Roger Penske will scrutinize Penske Automotive Group's entire portfolio of dealerships this year and either fix poor performers or sell them.
View ArticlePenske ponders the costs of FandI managers
Penske Automotive Group's used-only stores generate $300 to $400 more gross profit per vehicle than the group's franchised stores. One reason: no FandI managers.
View ArticleGM cuts bonuses for dealership sales staff
GM has slashed the maximum amount dealership salespeople can earn from the automaker in supplemental bonuses and changed the criteria for getting that money.
View ArticlePenske's Q4 net jumps on tax benefits
Penske Automotive's net jumped on a one-time boost from U.S. tax changes, while gross profit rose in all areas of the dealership group's business.
View ArticlePenske sets next markets for used-only stores
Penske Automotive Group plans to expand its CarSense used-only operation by building and opening stores in three U.S. markets within 12 to 18 months.
View ArticleTeaming up to tackle dealers' problems
Two dealership service powerhouses have formed a joint venture to research problems and identify solutions for dealers in the evolving retail landscape.
View ArticleTax changes boost public dealerships
Publicly traded dealership groups turned in generally good results in the fourth quarter. Then U.S. corporate tax cuts pumped up those earnings -- often by a lot.
View ArticleHendrick Group sued over commissions
Hendrick Automotive is being sued by 33 former sales associates who allege its Chevrolet of Naples store manipulated profit margins to pay smaller commissions.
View ArticleDealership's ex-controller pleads guilty to stealing $1.1 million
A former controller faces 20 years in jail and a $2.3 million fine for embezzling more than $1 million from a Connecticut dealership.
View ArticleSonic's Q4 net income jumps on tax changes
Sonic Automotive's fourth-quarter net soared on gains related to corporate tax changes. Same-store gross profit grew in all operations except used vehicles.
View ArticleLithia buys more stores near Pittsburgh
Lithia Motors expanded its presence in Pittsburgh with the purchase of Day Automotive Group. Day is estimated to generate $340 million in annual revenue.
View ArticleLithia buys New Jersey stores from Prestige
Lithia Motors bought six stores from Prestige Family of Fine Cars group in New Jersey, further expanding its East Coast presence and adding $900 million in revenue.
View ArticleLithia turns up heat on Group 1 in rankings
Lithia Motors, the fourth-largest dealership group based in the United States, may climb in Automotive News' rankings in part because of acquisitions.
View ArticleSonic shifts its focus to used-vehicle operations
Sonic Automotive will focus on its EchoPark used-only retail stores this year, while putting an initiative aimed at speeding up the sales process on the back burner.
View ArticlePenske taps FandI to boost used-car service
Penske Automotive Group promotes service on used vehicles through sales of wraparound maintenance programs.
View ArticlePerformance packages get a push in FandI, service
For some customers, 440 to 500 hp just isn't enough. So Manhattan Motorcars owner Brian Miller offers them a boost while helping his FandI managers and service advisers, too.
View ArticleUnorthodox dealer expands empire
New England dealer David Rosenberg will now lead one of the largest groups in the nation after the combination of Prime Motor and stores owned by GPB Capital.
View ArticlePublic retailers push toward online sales
Most public auto retailers are slowly moving toward allowing consumers to complete a full vehicle purchase online.
View ArticleMazda, dealers work to improve stores' profitability
For Mazda to sell 450,000 new vehicles annually in three years, the bulk of its dealers need to improve profitability, the dealer council chair said.
View ArticleAutoCanada buys Chicago dealership group
AutoCanada, the only public auto retailer in Canada, is buying most of the Grossinger Auto Group in Chicago, giving it a foothold in the U.S.
View ArticleAutoCanada buys Chicago dealership group
AutoCanada, Canada's only publicly traded auto retailer, is buying most of the Grossinger Auto Group in Chicago, giving it a foothold in the United States -- with plans for more growth.
View ArticleRetailers push back on flashy redos
Sonic Automotive will resist automakers' demands for grandiose improvements of its new-car dealerships, and it's not alone in pushing back against those demands.
View ArticleMAZDA: Positioned for sales growth, better profits
Mazda dealers in the U.S. are positioned to see sales growth and improved profits, dealer council chairman Jim Bagan said.
View ArticleGet ready for the retailing revolution
Dealers need to study data, enable digital purchasing and prepare for a day when consumers want transportation options beyond personal car ownership, panelists said.
View ArticleSubaru: More dealers will sell 1,000 vehicles per year
Subaru of America pledged to deliver the right product, in the right volume and strong marketing to help half of the dealer body sell at least 1,000 vehicles a year.
View ArticleBuy-sell market poised to rebound, advisers say
Advisers cite the benefits from federal tax-law changes, dealers' desire to grow in scale and stable dealership profits.
View ArticleEmpire builder, mystery man
Terry Taylor, a private but skillful operator, owns more dealerships than anyone else in the country #8212; and probably the world.
View ArticleInnovators will be winners in retailing revolution, panelists say
Dealers need to study data, enable digital purchasing and prepare for a day when consumers want transportation options beyond personal car ownership, panelists said.
View ArticleSubaru dealers promised product to drive sales
Subaru of America leaders promised to give the brand's dealers the products, marketing and inventory to increase their per-store sales and profitability.
View ArticleLithia wants stores across U.S., in Canada
Lithia Motors wants to be in all regions of the U.S. and eventually cross the border to Canada as it gains scale for a changing future.
View ArticleAmerican dealership group Lithia wants stores across U.S., in Canada
Lithia Motors dealership group wants to be in all regions of the United States and eventually Canada as it gains scale for a changing future. The group has been shopping in Canada for two to three years.
View ArticleVideo meetings boost profits
John Eagle Auto Group in Dallas holds monthly video conferences to help FandI staff brainstorm ways to improve profits at its 12 Texas dealerships.
View ArticleKen Garff's pioneering partnership breaks up
Ken Garff Automotive, a pioneer in private equity partnerships, will buy Garcadia Auto and its interest in 28 dealerships from Leucadia National.
View ArticleDrive Germain: 'This is a time-saving service'
Germain Automotive Group is in the subscription car business to attract new customers, drive revenue and prepare for a changing future.
View ArticleFlow Automotive's three keys to profiting from subscriptions
Dealer Don Flow had tried to come up with a way to let customers swap vehicles frequently; the advent of vehicle subscription services now makes it possible -- and profitable for him.
View ArticleFlexWheels: Ready-made dealer platform
Warren Henry Auto Group started a subscription program that's inspiring the group to develop an operational platform to help other dealers run subscription models.
View ArticleFlexdrive: Independent dealers get tools to build subscription revenue
Momentum Motorcars in Atlanta serves as a role model to franchise dealers on how to do subscription selling.
View ArticleDealers fixate on costs
Dealers are increasingly cutting costs across the board this year to offset narrowing margins, rising expenses and a potential economic downturn.
View ArticleDealers want a piece of the auto subscription action, too
Some dealers are offering subscription programs to ensure the retailers remain relevant as automakers also experiment with the business model.
View ArticleLithia Q1 net rises 2.6 percent
Lithia Motors' first-quarter net grew on strong service and parts and finance results, despite a drop in new-vehicle sales and narrowing gross profit margins.
View ArticleIn the stratosphere of the superrich, buying a car is about the experience
Selling high-line luxury cars to the superrich is not your father's car business: Price is less important, while the experience is everything.
View ArticleDealer offers extravagant automotive tour through Europe for top customers
Manhattan Motorcars' top customers will get the automotive tour of a lifetime in Europe. For Brian Miller, it's all part of doing business as an uber-luxury dealer.
View ArticlePublic groups adjust plans for selling used
Sonic Automotive and Group 1 Automotive are expanding their used-vehicle plans, even as AutoNation pauses its used-only store plans to evaluate results so far.
View ArticleFree services boost customer-pay work
Mercedes-Benz of Draper's VIP Card gives customers free services such as flat-tire repair or even renewal of state vehicle registrations to bring them back more often.
View ArticleTeaching the auto retail titans
The auto retail legends of today discuss the individuals who mentored them, and how that has prompted them to do likewise for the next generation.
View ArticleCharlie Brown
Increased Buick-GMC new-vehicle retail sales sixfold in three years, profits more than tenfold in one year
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