The year 2018 ends more enthusiastically than predicted a year ago, with year-end SAAR echoing the 17 million units in 2017 — but industry economists say rising interest rates, increasingly higher new- and used-car transaction prices, tightening credit, and consumer loan defaults and delinquencies portend a rockier 2019. Tom Kontos, senior vice president and chief […] [Read More]

With apologies to Shakespeare, the road to retail automotive — like the road to true love — has never run smoothly, nor is it expected to anytime soon. That’s why key players in the auto industry are lining up to help straighten curves and fill in  potholes, so dealers can operate more efficiently and profitably, […] [Read More]

A New York City-based online dealership now can help its customers with dings, dents and other unsightly ramifications from crashes and mishaps. Signature Auto Group this week announced it will now be administering full services through its body shop partner, Auto Group Collision. Through the new arrangement, Auto Group Collision will now be able to […] [Read More]

CarMax’s used-vehicle unit sales in its fiscal third quarter were down 1.2 percent against comparable stores in the year-ago period. But pre-tax earnings and earnings per share for the retailer were up, something president chief executive Bill Nash called a “testament to the strength of our diversified business model,” in a news release recapping CarMax’s […] [Read More]

Before the holidays arrived and political strife caused another federal government shutdown, Kerrigan Advisors released its third quarter report that highlighted dealership buy/sell transactions increased 20 percent year-over-year. The Blue Sky Report generated by the firm also pointed out that 2018 will be the fifth consecutive year of more than 200 buy/sells transactions and among […] [Read More]

Along with analyzing how dealership values are changing, one transaction involving the Ken Garff Automotive Group highlighted the Q3 edition of The Haig Report released this week by Haig Partners. The report indicated the number of private dealerships that sold in the U.S. increased 26 percent year-over-year, rising from 84 to 106. In one large […] [Read More]

Hearst Autos has a new chief executive officer. Named to the post was Matt Sanchez, who comes over from Say Media, a company he co-founded and served as CEO. Hearst Autos includes such properties as Jumpstart Automotive Media, Car and Driver, Road & Track and the Blend Line. Hearst Magazines president Troy Young made the […] [Read More]

The AutoSource group of branded title vehicle dealerships announced its new chief executive officer late last week. The company’s board of directors named former Santander Consumer, QCSA Direct and ADESA Impact executive Bradley Walsh to the CEO post, a move that was effective Oct. 15. “It has been a tremendous honor to serve as founder […] [Read More]

Last time Sonic Automotive expanded its line of EchoPark Automotive used-car stores, it added a location in the dealer group’s hometown of Charlotte, N.C. This time, Sonic added an EchoPark location in the hometown of its president. “I am excited to open the next EchoPark Automotive store in my hometown of Houston.  We have spent […] [Read More]

With some shoppers looking to make quite an impression via a holiday gift purchase, Autotrader found a half dozen luxury brands are ramping up their certified pre-owned offerings in hopes of capturing some of that consumer zeal. “Dealerships are highly motivated in December to close sales across their entire inventory, both new and used,” said […] [Read More]