Used Car Week (which is next week, by the way!) has some exciting new twists in store. One of those is the Used Car Awards (UCAs), which will make their debut during the conference, which is being held Nov. 13-17 at the La Quinta Resort & Club in Palm Springs, Calif.   The UCAs will honor […] [Read More]

Certified pre-owned vehicle sales were down 3.3 percent in October, but the year-to-date pace is still on par with the record figures from a year ago. According to Autodata Corp., there were 200,240 CPO sales for the month, compared to 207,105 certified sales in October 2016. However, the 2.22 million certified sales through 10 months […] [Read More]

Lithia Motors is moving closer to its used-vehicle sales goal. In its third quarter that ended Sept. 30, the Medford, Ore., new-car dealership group retailed an average of 67 used cars and trucks per store, per month. That was up from 65 in the year-ago quarter, said its president Bryan DeBoer. Lithia’s goal is to […] [Read More]

During the Q&A portion of Penske Automotive Group’s latest quarterly earnings call, chairman Rogers Penske was asked if his viewpoint on CarShop and CarSense had changed since the dealer group purchased the respective used-car standalone retailers.  “Yeah, it’s changed. I like it more,” Penske said with a laugh. “I think we’re very fortunate to get […] [Read More]

Sonic Automotive’s newest EchoPark used-car store in Colorado Springs, Colo., was “cash positive” in its third month of operation — about six months ahead of when the company’s initial EchoPark stores reached cash positive positions, said Sonic president Scott Smith. “EchoPark results were in line with expectations,” Smith said during the company’s third-quarter earnings call […] [Read More]

CarMax chief operating officer Cliff Wood will retire by the end of next summer, the company said Monday. Taking on the COO role at that point will be Ed Hill, who has been CarMax’s executive vice president, strategy and business transformation since 2016. Wood has been with the company since 1993, when he was a […] [Read More]

The significant damage Hurricane Harvey left in Texas gave Group 1 Automotive the opportunity to watch new and used vehicles roll over the curb at daily sales rates during the last three weeks of September that “were the highest we have ever seen,” says president and chief executive officer Earl Hesterberg. During the dealer group’s third-quarter […] [Read More]

While contending with the ramifications of Hurricane Harvey, Group 1 Automotive watched its used-vehicle retail sales soften by 3.3 percent year-over-year during the third quarter. According to its financial report released on Thursday, Group 1 stores in the U.S. turned 26,304 used vehicles during Q3. That’s down from the 27,201 used vehicles that the company’s […] [Read More]

When Asbury Automotive Group announced in July that it was discontinuing the Q auto standalone used-car store business, leadership emphasized this did not mean Asbury was scaling back on used cars. Not by a long shot. “With our investments in digital technologies and lead management initiatives, we have reassessed our brick-and-mortar investment in Q auto […] [Read More]

Used-vehicle retail sales have continued tracking at an annual pace near 39 million units, according to a sales forecast released this week by Edmunds.  The company is projecting 3.2 million used-car sales for October, which would be even with September. The seasonally adjusted annualized rate for used sales in October would be 38.9 million units, […] [Read More]