Penske Automotive Group posted solid gains in the third quarter of 2015, highlighting a 7.7-percent year-over-year increase in overall used-vehicle retail unit sales worldwide. The group has maintained that pace all year, with a similar jump – 7.8 percent, to be exact – in overall used retail units sold in the first three quarters of the […] [Read More]

After Sonic Automotive announced record quarterly new and used sales, the company’s third-quarter earnings conference call centered largely around its new standalone used store brand, EchoPark Automotive. In the company’s initial results release, it said that the EchoPark stores retailed 920 pre-owned units during Q3, which is up 4.4 percent from the 881 units sold […] [Read More]

While new-vehicle sales are expected to increase by over 11 percent for the month of October, TrueCar predicts a slight year-over-year decrease for total used-vehicle unit sales by the close of the month. In an announcement from the company on Wednesday, TrueCar says it expects that total used-auto sales may exceed 3,023,686 units, which, if […] [Read More]

AutoNation continued its upward movement in the number of used vehicles retailed during the third quarter, pushing its total through the first nine months of the year 7.4 percent higher than the same point in 2014. The dealer group reported on Wednesday that it retailed 56,584 used vehicles in Q3, marking a 1.4-percent uptick from […] [Read More]

It was a quarter full of records for Sonic Automotive — an assertion that became clear when company management announced Q3 results on Wednesday. On top of scoring record Q3 income from continuing operations, new retail sales, fixed ops gross profit and more, the company also sold more used retail units in the quarter than […] [Read More]

Sheehy Auto Stores is encouraging shoppers and community members to join in its efforts to feed the needy throughout the Richmond, Va.; Baltimore and Washington, D.C. areas. The dealer group will collect canned goods and non-perishable food at its stores as part of the company’s annual Fall Food Drive. The drive will go through Nov. 12, […] [Read More]

On Wednesday morning, AutoNation announced that the dealer group has signed an agreement to acquire 12 stores, including 31 franchises, in six Texas markets from Allen Samuels Auto Group. Officials indicated the dozen stores located in the markets of Houston, Dallas-Fort Worth, Corpus Christi, Tyler, Ennis and Waco represent approximately $800 million in annual revenue […] [Read More]

Group 1 Automotive’s management was “particularly pleased” with one used-car metric seen throughout the retailer’s U.S. and international operations during the third quarter: same-store used-vehicle sales climbing double-digits. In the company’s statement announcing its Q3 earnings results, Group 1 president and chief executive officer Earl Hesterberg said: "We are delighted to announce an all-time quarterly revenue record of […] [Read More]

Dealers who handle older vehicles should take notice of a recall announcement from General Motors, which includes 1,283,340 sedans and coupes in the U.S. from model years 1997 to 2004. Auto Remarketing reached out to GM on Tuesday for comment, and the automaker replied with the following statement: General Motors is recalling 1,283,340 older sedans and coupes […] [Read More]

Following a public comment period, the Federal Trade Commission approved final consent orders against two Las Vegas dealers that the regulator determined to have misrepresented the cost of vehicle in advertising. Officials recapped that back in June, TC Leadership —which does business as Planet Hyundai and Planet Nissan — agreed to settle FTC charges that […] [Read More]