Sonic Automotive says more than 130 to 150 monthly used-vehicle sales at each of its stores are possible, and suggests the key to reaching this perch are two new programs it has recently implemented: True Price and the Sonic Inventory Management System. Sonic chief financial officer Heath Byrd, speaking at the Goldman Sachs 2013 Global […] [Read More]

NADA Used Car Guide executive automotive analyst Jonathan Banks explained how last month’s headline-grabbing new-vehicle sales performance is creating price trends in the used-vehicle space that ought to delight dealers. Banks recapped how franchised dealers turned 1.5 million new models in August. This pushed the new-vehicle seasonally adjusted annualized rate above 16 million for the […] [Read More]

Every dealer knows that the inventory that turns the fastest is often the most profitable. This is compounded by the carrying cost of the vehicle (often cited as $10-$25 per day). For both reasons, the longer a car remains in inventory, the more it eats into your profits. That’s why it’s critical to measure and […] [Read More]

The Nashville campus of National College recently awarded a Distinguished Community Employer plaque to Primeritus Financial Services, one of the presenting sponsors of this year’s Re3 Conference. Primeritus Financial Services highlighted that it has been instrumental in hiring current students and graduates of National College and has agreed to be an externship site for students […] [Read More]

Transportation logistics firm MetroGistics will hold its second annual Monster Mash Halloween fundraiser benefitting Project VIP (Very Important Pets), the Humane Society of Monroe County and the Humane Society of St. Clair County. Last year’s event raised just over $18,000 for multiple St. Louis animal rescue programs. The Monster Mash team is now preparing for […] [Read More]

Dealers may see a few more potential new-car buyers on the lots in the next few months, according to Phoenix Marketing’s August Auto Insights report. In August, the percent of near-term intenders planning to purchase or lease a new car within the next three months rose to 44 percent, up from around 40 percent in […] [Read More]

State and metro associations, 20 groups, local charitable boards and committees — there are seemingly countless ways for dealers to spend their daylight hours. It occurred to me recently that, if I wanted, I could spend 365 days a year traveling from one meeting to another, without ever stepping foot inside one of my stores. Obviously, […] [Read More]

CU Direct Connect announced last week that it has signed an agreement with Sonic Automotive to be a preferred lender for the dealer group's stores in Colorado. Officials indicated the agreement became effective on Aug. 1. CU Direct Connect, through its more than 34 member credit unions, is collectively one of the largest auto lenders […] [Read More]

With leasing volume rising, prices on those monthly lease contracts are moving upward, too, potentially boosting the equity left in those vehicles. Swapalease.com reported that average lease prices increased 2.1 percent year-over-year based on listings entering the market during August. The site found that prices on leases averaged $590.38, up from $578.06 at the end […] [Read More]

One of the prominent focuses of the Obama Administration has been its efforts to increase fuel efficiency and work on reducing the carbon footprint. These efforts have now turned toward the used-car market once again, following the 2009 Cash for Clunkers program. The U.S. Energy Department and the Environmental Protection Agency released Thursday a new […] [Read More]