Penske Automotive announced Tuesday it has added four new franchises to its lineup. The dealer group has acquired Audi Eatontown, Porsche Monmouth, Jaguar Monmouth and Land Rover Monmouth, which are all located in Monmouth County, N.J. Penske management pointed out this is one of the wealthiest counties in the U.S.   Penske purchased the franchises […] [Read More]

DRIVIN, a data-driven service designed to help dealers source used vehicles — announced Monday it has expanded into Florida. And this might be the first release of many, as DRIVIN management said the growth into Florida is “the first step in a bigger national rollout plan for 2016.” The company also reported it has chosen […] [Read More]

As auction values continue to drop, dealers are also paying less for trade-ins that come into their dealerships. According to the November edition of the NADA Official Used Car Guide, trade-in values dropped by 2.8 percent relative to October. While car values fell by 3.2 percent, trucks saw a 2.2 percent decline. This trend mirrors […] [Read More]

If you needed another sign of the automotive market’s momentum — on top of growing new and used sales — hiring is on the upswing, as well. Edmunds.com announced it will be hiring for 100 new positions in the coming weeks, in light of the company’s recent growth. The news comes as the auto industry […] [Read More]

The DARCARS Automotive Group announced Monday that it has added Honda of Bowie to its list of franchises, bringing the overall tally to 38 franchises in more than 20 locations. Labeling itself as the largest group of car dealerships in the greater Washington, D.C., metropolitan area, DARCARS also said that the Honda dealership will immediately […] [Read More]

Since humble beginnings in the early-to-mid 1990s, the certified pre-owned business has picked up steam in the past decade or so, particularly in the last five years. Autodata Corp. data indicates that 2011, 2012, 2013 and 2014 were each record-breaking years for CPO, and 2015 is on pace to be an all-time high, as well. So, […] [Read More]

Volkswagen, Audi and Porsche announced a stop-sale of certain models in their respective lineups earlier this week following the Environmental Protection Agency’s allegations that the second generation 3.0-liter V6 TDI engines contained a defeat device that circumvents the EPA’s emissions testing. The stop-sale from the three brands does include their respective certified pre-owned vehicles with […] [Read More]

The same day Tesla announced its third-quarter financial results, which included delivering a record 11,602 vehicles, the automaker also promoted new leadership in finance and sales and service. Jason Wheeler is Tesla’s next chief financial officer, while Jon McNeill becomes president of global sales and service. The new CFO joins Tesla after spending 13 years […] [Read More]

The five companies under Volkswagen’s umbrella that are involved in the sale of its V6 diesel engines in the United States received notification today from the Environmental Protection Agency alleging that their 3.0 liter V6 engines also contain defeat devices that circumvent EPA emissions testing. Volkswagen later denied those allegations. This second diesel-related notification of […] [Read More]

Your buyer has scoured the auctions for quality pre-owned vehicles — both in-lane and online — and your dealership now has a great stock of used inventory. Well, almost; the cars still have to make it through reconditioning to be front-line ready, and any dealer knows this can be time consuming. And of course, this can […] [Read More]