Sonic Automotive’s specialty pre-owned vehicle brand now stretches into the nation’s most densely populated region — the Northeast. On Friday, the company announced the expansion of the EchoPark Automotive network with the addition of Used Car King in the New York markets of Cicero and Cortland. Sonic highlighted these two Used Car King locations bring […] [Read More]

Independent dealership expert Gene Daughtry is back on the Auto Remarketing Podcast with a timely message for operators who might be struggling to handle inventory acquisition and maintain underwriting discipline. The senior consultant for AMS Consulting cautioned about the pitfalls of pushing parameters in those areas as the spring market intensifies in both the wholesale […] [Read More]

It was a record year for Sonic Automotive’s standalone used-car store program, as EchoPark pulled in all-time highs for revenue and retail sales volume. Specifically, EchoPark generated $1.42 billion in total revenue during 2020, beating 2019 figures by 22.1%. EchoPark retailed 57,161 used vehicles last year for a 15.4% hike. And the standalone stores closed […] [Read More]

Just like the National Automobile Dealers Association, the American International Automobile Dealers Association hosted its annual meeting virtually, in the process handing off the chairman’s gavel and revealing its board of directors. Set to serve as its 2021 chairman, AIADA bestowed the role to Steve Gates of Richmond, Ky., who is the owner of Gates […] [Read More]

Annette Sykora said providing assistance is an auto industry hallmark. Sykora, who is chair of the NADA Foundation and dealer principal of Smith South Plains Ford Lincoln in Levelland, Texas, was discussing a recent $25,000 donation from global lifestyle and housing services provider Assurant to the National Automobile Dealers Association Foundation’s Emergency Relief Fund. “The Emergency […] [Read More]

Continuing efforts to help build a strong pipeline of minority talent for the automotive industry, CDK Global and the National Association of Minority Automobile Dealers, or NAMAD, have opened the application process for an annual scholarship program. The program is called the Fueling Careers Scholarship Program, and it is the fifth year of the program. […] [Read More]

AutoNation sold fewer retail used vehicles last year, but closed 2020 with a bump in pre-owned sales during the fourth quarter. And the dealer group’s used-vehicle retail sales were more profitable. Here’s a recap of some of the used-car specifics in AutoNation’s full-year and Q4 earnings released Tuesday, including what it has in store for […] [Read More]

AutoNation has finished selling off its stake in online retailer Vroom, an investment that ultimately resulted in a $165 million cash gain for the largest dealership group in the U.S. That wasn’t the only major news announced Tuesday morning by AutoNation, which reported full-year and fourth quarter 2020 earnings. The auto retailer has a new chairman […] [Read More]

The flurry of dealership M&A moves continues in February. We start with a public retailer from the Northwest that has expanded its presence in the Southeast. Lithia Motors & Driveway announced last week that the group has purchased a Land Rover dealership and a Chrysler Jeep Dodge Ram store from Fields Auto Group. Both locations […] [Read More]

AutoAp has launched an online service to help auto dealers assess their current safety recall management capabilities. A recalls-as-a-service (RaaS) company, AutoAp said the new online service is called Safety Recall Performance (SRPsm) Assessment. Free to dealers until March 31, it also provides recommendations on how to improve recall repair management. AutoAp, which said its research […] [Read More]