Retail
Franchised dealer count steady; Texas shows most gains
Joe Overby, Senior Editor
Continuing a “normal pattern of stability,” the franchised auto dealer count in the U.S. climbed modestly in the first half of the year, with 98 percent of markets showing no real change, according to Urban Science. The firm’s 2017 mid-year Automotive Franchise Activity Report indicates there were 18,199 dealership rooftops as of July 1. That’s […] [Read More]
Role of auctions in Penske’s standalone store strategy
Nick Zulovich, Staff Writer
The method Penske Automotive Group plans to continue using to fill inventories at CarSense — its standalone used-vehicle retail locations primarily in the Northeast with intensions on expanding — should delight auction general managers who see buyers for this dealer group mingle in their lanes. Chairman Roger Penske said during the company’s latest conference call […] [Read More]
Cars.com names America’s favorite convertibles
Auto Remarketing Staff
In time for end-of-summer shopping, Cars.com recently released a list of the most popular convertibles among consumers. The site’s latest study on shopper's online activity revealed what convertibles are most popular and where in the U.S. shoppers are buying these models most. Turns out, being named as America's favorite was the Chevrolet Camaro. And the state where convertibles are most popular […] [Read More]
Lithia purchases LA auto group
Auto Remarketing Staff
After buying a Pittsburgh dealer group this spring, Lithia Motors turned its attention to the West Coast with its latest acquisition. The retailer announced Tuesday it has purchased Downtown Los Angeles Auto Group. The California group, also known as DTLA, includes Audi, Mercedes-Benz, Nissan, Porsche, Toyota and Volkswagen dealerships located in downtown Los Angeles plus […] [Read More]
Autotrader names August’s top CPO deals
Auto Remarketing Staff
As consumers head out this month to shop for coveted back-to-school season items, Autotrader has come out with its top picks for certified pre-owned deals in August, which features long warranty term offerings from Jaguar and its sister brand, Land Rover. "Going CPO is a great option for car shoppers looking to get a lot while […] [Read More]
Mercedes forms training program through U.S. Labor Dept.
Auto Remarketing Staff
Mercedes-Benz USA said it has received approval from the U.S. Department of Labor and Department of Veterans Affairs to become the first luxury automotive manufacturer to offer a Registered Apprenticeship Program. MBUSA’s new 16-week technician training and development program, Mercedes-Benz DRIVE, trains veteran and non-veteran candidates for in-demand technician careers at authorized Mercedes-Benz dealerships. The […] [Read More]
Chrysler, kids ridesharing app partner to lease drivers hybrid minivans
Auto Remarketing Staff
The Chrysler brand and Kango, the app-based, rideshare service for children, recently announced a new partnership that will make a fleet of new Chrysler Pacifica Hybrid minivans available to eligible Kango drivers for lease in San Francisco. The California-based Kango said Chrysler Pacifica Hybrids will be available to its San Francisco Bay area drivers beginning this […] [Read More]
CPO sales down 3% in July, still up for year
Joe Overby, Senior Editor
Certified pre-owned vehicle sales fell more than 3 percent in July, but year-to-date numbers still remain slightly ahead of the 2016 pace. That’s according to numbers released Tuesday by Autodata Corp. There were 227,045 CPO sales for the month, which was off 3.2 percent year-over-year but up 2.3 percent from June. Through seven months, there […] [Read More]
How softening trade volume impacted Group 1 in Q2
Nick Zulovich, Staff Writer
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]
NADA & NIADA object again to bill aimed to stop retail of recalled units
Nick Zulovich, Staff Writer
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]
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