Many companies, including dealerships, tend to tout company culture as part of their recipe for success. Not very many, however, tend to survive three generations of familial torch bearing and reap the rewards quite in the same way as Ohio’s Ricart Automotive Group. It started with Paul Ricart on Independence Day in 1953 as a […] [Read More]

Requisite Press reported Wednesday that it expects new-car prices to “stall” this year, perhaps offering price-conscious shoppers another reason to buy a new car. This news comes off a record year for new cars sold in the U.S., with 2015 sales coming in at 17.5 million. Requisite Press’ assertion stems from its December 2015 Auto Buyer's […] [Read More]

You can expect certified pre-owned sales to reach the 3 million mark next year, which would push the string of record years for this growing market to seven — just as off-lease volumes really begin to ramp up. According to data in a Cox Automotive presentation Sunday in Detroit, later shared with Auto Remarketing, CPO […] [Read More]

Penske Automotive Group has bought a 49-percent equity ownership stake in a luxury dealership group in Japan known as the Nicole Group. The multi-franchise retailer operates out of Kanagawa and Tokyo, and it features a Rolls-Royce store, a Ferrari store, four BMW stores and three MINI stores. The Nicole Group also has two standalone service […] [Read More]

During what ended up being another best-ever year for the certified pre-owned business, sales for Big 3, Asian and European brand automakers all increased year-over-year, with domestics notching a double-digit gain. According to Autodata Corp., there were 926,997 CPO sales by Big 3 brands in 2015, which beat year-ago figures by 11.8 percent. Asian brands moved […] [Read More]

As Sheehy Auto Stores highlighted donations totaling $125,500 to 20 different charities, the Russ Darrow Group recently opened a new showroom specifically to showcase Kia certified pre-owned vehicles. The group’s Kia Gallery, a new state-of-the-art facility, allows for a display of 12 vehicles on the showroom floor, a 28-stall service department and an eight-vehicle service […] [Read More]

As 2015 was wrapping up, Lithia Motors Inc. announced it added a new store to its lineup in Washington. The dealer group bought Barton Chrysler Jeep Dodge Ram Alpha Fiat, located in Spokane, Wash. Lithia management said the store will bring in $50 million in estimate annual revenues for the dealer group. Bryan DeBoer, president […] [Read More]

The certified pre-owned market has now posted five straight years of record sales. According to industry sales figures released Wednesday afternoon by Autodata Corp., there were 2.55 million CPO sales in 2015. Not only was this the best year ever for CPO, but it beat last year’s tally by more than 9 percent, Autodata said. […] [Read More]

AutoNation finished 2015 off on a strong note as new-vehicle sales for the month of December, the fourth quarter and the full year were all up for the dealer group. New sales increased by 9 percent year-over-year, coming to a total of 35,962 new vehicles in December. For Q4, AutoNation retailed 89,764 vehicles for an […] [Read More]

While the final tally for the 2015 full-year sales total has yet to be announced, the certified pre-owned market is expected to post another record year. In the meantime, here is a sneak peek at how some brands fared in CPO for the year: BMW moved 115,903 certified vehicles in 2015 (up 12.5 percent year-over-year), and […] [Read More]