Group 1 Automotive leadership offered a bit more explanation as to why used-vehicle retail revenue and gross profit softened during the second quarter with part of the reason why the company saying it had to tap inventory availability at auctions to fulfill its needs. Officials recapped that Q2 retail used-vehicle revenues decreased 4.2 percent on […] [Read More]

Seven Democratic lawmakers are trying again to push legislation that would prohibit the retailing of vehicles with an unfulfilled recall; a plan prompting the two largest dealership associations to reiterate their objections and explain the potential unintended consequences. Amid all the hubbub over healthcare and the revolving door at the White House, late last week […] [Read More]

Fueled in part by its used-vehicle performance, Lithia Motors posted its 27th consecutive quarter of record results, including the highest second quarter revenue and earnings per share in company history. Helping Lithia to those achievements were used-vehicle retail same-store sales increasing by 4 percent. All told, the dealer group retailed a total of 32,171 used […] [Read More]

As Asbury Automotive Group chose to leave its standalone used-car store business, Sonic Automotive’s dedicated used-vehicle rooftops are adding so much to its performance that the company is expanding the segment. Sonic highlighted on Friday that it retailed a record number of used vehicles during the second quarter, turning 30,536 units that contributed $40.0 million in […] [Read More]

Paced by a 25.1 percent jump in used-vehicle retail sales, Penske Automotive Group reported on Thursday that the company posted the highest quarterly income from continuing operations and earnings per share in company history during the second quarter. Penske highlighted Q2 income from continuing operations attributable to common shareholders increased 11.9 percent to $106.0 million, […] [Read More]

Group 1 Automotive established a new record gross profit per unit through its F&I department during the second quarter. But softened used- and new-vehicle sales in areas where the bulk of its dealerships are located — Texas and Oklahoma — left a significant impact on the dealer group’s top-line performance. According to its latest financial […] [Read More]

While it appears new-car sales are continuing to lose steam, Edmunds is projecting that used-vehicle sales in July should climb when compared to the previous month. Edmunds is estimating that 3.4 million used vehicles will be sold this month, which would compute into an estimated seasonally adjusted annual rate (SAAR) of 39.2 million. For June, […] [Read More]

CertifiedCars.com has relaunched with a new website, the online certified pre-owned vehicle marketplace said in a news release. The company said the new site is more intuitive and has easier navigation, plus new tools to browse and research CPO vehicles. It also has a side-by-side comparison of automaker CPO programs, including information on inspection processes, […] [Read More]

The second-quarter dealer survey orchestrated by KeyBanc Capital Markets confirmed how used-vehicle and F&I performances are helping to pick up the slack dealerships might be experiencing within the new-car operations. The report shared this week with Auto Remarketing indicated trends in F&I gross profit per unit maintained a favorable trend with 86 percent of respondents […] [Read More]

General Motors’ Customer Care and Aftersales division recently announced at NACE automechanika Chicago that the company will offer a comprehensive collision certification program, which will start early next year. The new program will be more comprehensive than the current GM training and tools-focused programs, the company said. It will include added standards for both pre- and post-repair […] [Read More]