Fueled in part by its used-vehicle performance, Lithia Motors posted its 27th consecutive quarter of record results, including the highest second quarter revenue and earnings per share in company history.
Paced by a 25.1 percent jump in used-vehicle retail sales, Penske Automotive Group reported on Thursday that the company posted the highest quarterly income from continuing operations and earnings per share in company history during the second quarter.
Group 1 Automotive established a new record gross profit per unit through its F&I department during the second quarter.
The second-quarter dealer survey orchestrated by KeyBanc Capital Markets confirmed how used-vehicle and F&I performances are helping to pick up the slack dealerships might be experiencing within the new-car operations.
Dashboard Dealership Enterprises has redesigned its business analytic reporting suite for increased functionality using input from dealer clients.
Carvana founder and chief executive officer Ernie Garcia is confident that the online used-vehicle retailer will have turned at least 10,000 units by the time the second quarter closes at the end of the month. And Garcia is upbeat that the gross profit per unit will be about $1,400.
Online used-vehicle retailer Carvana highlighted that its first-quarter revenue soared to a new record, increasing by 118 percent year-over-year.
When it comes to used-car prices, the sky might not be falling after all, if indications from a Manheim report bear out.
The auction company’s index measuring used-car prices increased for the first time all year, and the used retail market buzzes along at a solid clip.