Penske Automotive Group chair and chief executive officer Roger Penske summed up his company’s second quarter 2022 earnings report by noting good news along with challenges. “Despite the supply constraints that continue to impact new vehicle inventory and availability, demand remains strong, and our pipeline of vehicles remains forward sold,” Penske said during the company’s […] [Read More]

CarMax is trying to do more than just retail used vehicles nowadays. The company recently released its 2022 corporate responsibility report, which features expanded disclosures and updates on progress across several key initiatives including diversity and inclusion, community impact and its goal of achieving net zero greenhouse gas emissions by 2050. A few of the […] [Read More]

AutoNation is buying a captive finance company for its AutoNation USA standalone, used-car operation, said chief executive officer Michael Manley during the company’s second quarter earnings call on July 21. Once the acquisition is complete, CIG Financial of Irvine, Calif., will aid with the expansion of AutoNation USA and improve the used-car operation’s financial performance, all with modest […] [Read More]

This week’s update involving mergers and acquisitions of dealerships covers two unique parts of retailing — luxury sedans and SUVs as well as big rigs to move goods. The Presidio Group said it advised Scott Biehl on the sale of the Jaguar Land Rover Los Angeles dealership franchises to US Auto Trust. And Performance Brokerage […] [Read More]

Within Sonic Automotive’s EchoPark used-car store program, second-quarter revenues hit $665.6 million, an all-time high and a 12% year-over-year increase. On the other hand, EchoPark retail used-vehicle unit sales volume of 16,608 was down 22% year-over-year. During the Q&A portion of the retailer’s earnings call, participants asked … [Read More]

The end of Lithia & Driveway’s second quarter came with good news for the publicly traded company. The retailer reported the highest Q2 revenue and earnings per share in company history ($0.42 per share for the second quarter). Lithia’s Q2 revenue was … [Read More]

The racecar that will prominently feature the Zeigler Auto Group next weekend at Michigan International Speedway likely will be traveling tremendously faster than the vehicles involved in upcoming teen driver education classes to be hosted by AutoNation. The two auto groups announced campaigns this week meant to connect with their communities in different ways, but […] [Read More]

Auto Remarketing is recognizing the 2022 Women in Retail honorees in the current issue of the magazine and at Used Car Week this fall in San Diego.  With these awards, we specifically recognize top leaders on the retail side of the auto industry, including honorees from dealerships, dealer groups and third-party providers/vendors AR is posting Q&As with each of the honorees on […] [Read More]

Auto Remarketing is recognizing the 2022 Women in Retail honorees in the current issue of the magazine and at Used Car Week this fall in San Diego.  With these awards, we specifically recognize top leaders on the retail side of the auto industry, including honorees from dealerships, dealer groups and third-party providers/vendors Over the next few weeks, AR will be posting Q&As with […] [Read More]

Auto Remarketing is recognizing the 2022 Women in Retail honorees in the current issue of the magazine and at Used Car Week this fall in San Diego.  With these awards, we specifically recognize top leaders on the retail side of the auto industry, including honorees from dealerships, dealer groups and third-party providers/vendors Over the next few weeks, AR will be posting Q&As with […] [Read More]