Fleet owners in the Chicago area and northern Illinois can now get cash back when they buy pre-owned electric vehicles. ComEd, the area’s electric utility company, has extended its business and public-sector fleet EV rebate program to include used electric fleet vehicles and repowered battery electric vehicles as well, to help reduce the costs of […] [Read More]

The latest act in AutoNation’s longstanding initiative to support the fight against cancer is sure to have people dancing for joy. The nationwide auto retailer surprised former professional ballerina Anna Wassman-Cox, a two-time breast cancer survivor and founder of the nonprofit Onco-Ballet Foundation, with a $25,000 donation to support cancer patients and survivors through the […] [Read More]

Carvana is moving full speed ahead — and still accelerating. The online used-car retailer announced its financial results for the third quarter of 2024 this week, showing “record performance in virtually every key financial measure,” according to its letter to shareholders. Those measures include a net income of $148 million with a net income margin […] [Read More]

No dealership group has been more active in acquiring new locations than Group 1. So far in 2024, the Houston-based company has added nine new dealerships in the U.S., with acquisitions in Maryland, California and South Carolina that added an expected $1 billion in annual revenues. And it has exploded in the U.K., doubling its […] [Read More]

Ernestina Valdes was given a tremendous gift from a California car dealership. But it wasn’t best gift she received. Salinas Honda in Salinas, Calif., presented Valdes with a 2024 Honda Civic Sport Sedan as the winner of a raffle benefitting the American Cancer Society in conjunction with the organization’s Relay For Life of Salinas Valley. […] [Read More]

If you use Repair OnDemand’s BlueDriver vehicle diagnostic tool, you’re one in a million — quite literally. The auto repair technology provider announced this week it has sold its 1 millionth BlueDriver device in the retail space. The OBD2 diagnostic tool is designed specifically for consumers and do-it-yourself mechanics, as opposed to the commercial version […] [Read More]

Roger Penske is becoming a believer of that old saying: Less is more. With fewer used-car stores in his portfolio, the chairman and CEO of Penske Automotive Group is watching the profits from that sector grow. Indeed, while the company’s third quarter 2024 financial results showed sales of used vehicles from Penske-owned stores plummeted 12.5% […] [Read More]

When it comes to used vehicles, Asbury Automotive Group believes sales are great — but gross profit is better. So, president and CEO David Hult wasn’t concerned when Asbury’s third-quarter financial results showed used-car unit sales down 6% on a same-store basis from the previous year. He was more focused on the quarter-over-quarter rise in […] [Read More]

Consumers may feel like they’re without a paddle when it comes to figuring out the right time to sell their vehicle. But they don’t have to be an armchair expert thanks to the Value Tracker tool from Carvana, which can help car owners determine when to let it go. The platform launched last year allows […] [Read More]

Doug Austin noticed car dealers were struggling with slowing sales and increasing expenses, and decided to do something about it. Austin, the founder and chairman of StrategicSource, came up with the Dealer Profit Alliance, a new program designed to show dealers how StrategicSource’s resources can help them increase revenue. “Interest rates have decreased but they […] [Read More]