Used-vehicle news mixed as Penske reports strong earnings
Image courtesy of Penske Automotive Group, Inc.
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Montway hires former Wheels COO as new CEO
Montway Auto Transport named a new CEO on Wednesday. Replacing Tom Gartland in that position is Ahsan Rahim, who was most recently chief operating officer at Wheels, Inc. Gartland, who became CEO in 2023, will continue as executive chairman on the board. “Leading Montway has been incredibly rewarding, and I’m proud of what our team […]
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AutoNation capitalizes on digital infrastructure combined with ‘dense physical presence’
In its usual third-quarter earnings report at the end of last month, AutoNation shared quarterly used-vehicle sales results, showing a small decline in retail units but improved unit gross profit. The group sold 65,410 used-vehicle retail units in Q3 2026, down 5% from 68,960 units during the same period last year. Same-store used vehicle retail […]
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Sonic’s EchoPark used-car business increasing sales, footprint & awareness
Sonic Automotive reported a record quarterly total revenue of $4 billion at the end of October. Contributing to that total was the dealer group’s pre-owned arm, EchoPark, which grew retail unit sales 22% year-over-year to 19,923 units sold in the third quarter. The EchoPark segment brought in $596 million in revenue, up 14% year-over-year, driven […]
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