Fiat Chrysler Automobiles and shopping website CarGurus announced an agreement on Wednesday that provides the automaker’s franchised dealers an opportunity to advertise and post their certified pre-owned vehicle inventory on the CarGurus site. Executives highlighted the agreement puts dealer CPO vehicle inventory in front of 20 million monthly unique automotive shoppers on the CarGurus website […] [Read More]

Group 1 Automotive increased its U.S. used-vehicle sales by more than 6 percent in the first quarter, retailing close to 27,000 units. Specifically, it sold  26,831 used retail units, up 6.7 percent year-over-year. Used retail revenue in the U.S. was up 9.1 percent at $558.76 million. Gross margin percentage on used retail sales was 7.8 […] [Read More]

Sonic Automotive reported record first-quarter pre-owned unit sales and its EchoPark standalone used-car outlets moved more than 900 vehicles. Sonic, one of three publicly traded dealer groups to release quarterly results Tuesday, said it retailed 29,333 used cars during the quarter, a 4.3-percent year-over-year improvement. The EchoPark stores sold 941 cars. In a news release, […] [Read More]

More than just the recent decline in the Manheim Used Vehicle Index has Lithia Motors upbeat about supply availability, especially coming on the heels of double-digit gross profit rises within what dealer group executives classify as their core used-vehicle sales segment as well as their certified pre-owned division. “We’re finally getting the cars that we […] [Read More]

Enterprise Car Sales now has four locations in the nation’s third-largest metropolitan area.  The company announced last week that it has opened a store in Palatine, Ill., its fourth location in the Chicago area. The store, which opened to the public in March, is a nearly 5,700-square-foot facility located on a three-acre lot. It can […] [Read More]

AutoNation retailed 58,103 used vehicles in the first quarter, down 0.9 percent from Q1 of 2015, according to the company’s earnings report released Friday. Revenue per used unit retailed was $19,274, up 3.3 percent year-over-year. Gross profit per retail used vehicle, however, was down 7.7 percent at $1,613. Looking at overall results, total revenue climbed […] [Read More]

One of the largest recent recall campaigns not associated with Takata air bags nor Volkswagen’s diesel units came to light late on Friday as Fiat Chrysler Automobiles is voluntarily recalling an estimated 811,586 midsize SUVs and full-size cars in the U.S. The automaker explained the move is being made to reduce the effect of potential […] [Read More]

As one industry observer put it, Volkswagen dealers might be working within a “fairly sketchy framework” on how to handle about 500,000 diesel vehicles with compromised emissions systems the automaker has agreed to potentially buy back through various means based on negotiations brokered between the OEM and federal regulators. A deadline-mandated preliminary agreement came to […] [Read More]

Lithia Motors appears well on its way to hitting its annual projection of a 9.5-percent jump in used-vehicle sales thanks to the lift, especially in same-store performance, the dealer group posted during the first quarter. Lithia reported this week that its Q1 used-vehicle retail same-store sales increased 12 percent year-over-year during a quarter that saw […] [Read More]

Greg Miller is embarking on his own dealership journey. Independent of the Larry H. Miller Group of Companies (LHM Group), Greg Miller announced the acquisition of his first dealership on Wednesday with the purchase of Bob Baker Toyota in San Diego. This dealership will be renamed Greg Miller Toyota and will be operated under his […] [Read More]