Carvana has expanded its footprint in the Northeast by launching in Pittsburgh, its 18th market. The company says it now can offer as-soon-as next-day delivery to nearly 125 million customers, including more than 6 million in the Pittsburgh metro area. “Pittsburgh is a historic city full of thriving businesses and we’re excited to be able to […] [Read More]

In what one industry observer called “a massive step forward” for the OEM and what’s commonly known as “Dieselgate,” Volkswagen Group of America announced on Tuesday that Judge Charles Breyer of the U.S. District Court for the Northern District of California has granted final approval to the $10 billion settlement order agreement between Volkswagen and private […] [Read More]

Calling it a “very competitive market” for car sales and margins, Asbury Automotive Group’s president and chief executive officer explained how the retailer achieved an earnings increase in the third quarter. "Despite a very competitive market for vehicle sales and margins, our strong parts and service customer pay performance combined with capital deployment enabled us […] [Read More]

Lithia Motors is challenging 68 stores within its dealership group to improve. Otherwise, change will come — if it hasn’t already. During the company’s conference call to discuss its third quarter results — which included a 13-percent gain in used-vehicle retail sales — Lithia president and chief executive officer Bryan DeBoer indicated the company made 19 […] [Read More]

Ally Financial has announced that 49 U.S. auto dealers have been chosen as nominees for the 2017 TIME Dealer of the Year award. The award, in its 48th year, recognizes the nation’s most successful auto dealers who also demonstrate a commitment to community service. The nominees will be honored at the National Automobile Dealers Association Convention […] [Read More]

 As the company continues to “invest significantly in automotive retail digital technology,” AutoNation has hired a chief technology officer to head up the retailer’s technology, IT development and digital platforms. Named executive vice president and CTO, effective Oct. 31, is Tom Conophy, whose background includes time with Starwood Hotels & Resorts Worldwide, Intercontinental Hotels Group […] [Read More]

The used-vehicle department at Lithia Motors turned in another sterling performance during the third quarter as the dealer group reported double-digit improvements in both same-store and overall used-retail sales. On a same-store basis, Lithia indicated the rise came in at 11 percent. Altogether, group stores retailed 29,636 units during Q3, representing a 13-percent jump year-over-year. […] [Read More]

Group 1 Automotive saw a 2.2-percent bump in its used vehicle revenues during the third quarter, thanks to higher unit sales. When eliminating for the effects of exchange rate fluctuations, i.e. adjusting for constant currency, that increase was 4.8 percent. Consolidated results (representing the company’s U.S. and international operations) for the three months ended Sept. 30 […] [Read More]

Dent Wizard International, which specializes in automotive reconditioning and SMART (Small to Medium Area Repair Techniques) repairs, has promoted Eric Walker to regional finance director for the south region of the company’s F&I business. The south region includes Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma, Tennessee and Texas. Walker will focus on growing Dent Wizard’s F&I products and […] [Read More]

Experian’s latest State of Auto Finance Market Report made headlines, painting a rosy picture for the used-vehicle market. Overall, pre-owned vehicles accounted for 55.61 percent of all financing in the second quarter of 2016. Consumers across all credit tiers are flocking to pre-owned vehicles, with super-prime and prime consumers accounting for 44.95 percent of all […] [Read More]