Lithia reported its best-ever third-quarter earnings in company history this week. Leading the way? Used-vehicle sales. Looking at its third-quarter operating highlights, Lithia’s used-vehicle retail sales on a same-store level increased by 13 percent compared to Q3 2014, representing the biggest jump of the four different metrics that experienced double-digit growth quarter-over-quarter. Lithia’s president and chief […] [Read More]

Auto Remarketing has revealed its 2015 CPO Dealer of the Year, presented by NCM Associates, and taking home the award, now in its sixth year, is Bill Luke Chrysler Jeep Dodge & Ram. The Phoenix dealership was the automaker’s top certified pre-owned seller in both 2013 and 2014, and it holds the No. 1 spot […] [Read More]

The Prime Motor Group announced Friday its extensive expansion plans in Westwood and Rockland, Mass., with groundbreaking ceremonies having taken place in early October to make way for four new dealerships in the Boston area. Three of those four dealerships broke ground side by side on Oct. 1 in Westwood, making way for over 120,000 square […] [Read More]

For dealerships, trade-ins are often a valuable — and coveted — source of quality used inventory. With that in mind, tech company CARPHORIA announced Monday it has grown its dealer services offering with a new tool: Trade-In Valet. The new tool is designed to help dealers capture more consumer trade-ins, and is based on consumer […] [Read More]

The chief executive of Morrie’s Automotive Group and a private holdings company are set to buy the dealership group. Under the agreement, Morrie’s CEO Karl Schmidt and Fremont Private Holdings would acquire all of the dealership group’s stores, body shops and related real estate from founder and current owner Morrie Wagener. Pending manufacturer approval, the […] [Read More]

Insurance product company Assurant Specialty Property announced Friday it has teamed up with Cox Automotive’s Flexdrive, an on-demand car program. Assurant will now be providing insurance coverage for vehicles in the Flexdrive program, which is currently available in Atlanta, Dallas, Austin and Nashville. “This means drivers in these areas have worry-free access to a car […] [Read More]

Earlier this week, the National Automobile Dealers Association’s board of directors elected its chairman for 2016. The post went to Jeff Carlson, who is currently serving as NADA vice chairman. Carlson is president of Glenwood Springs Ford and Glenwood Springs Subaru in Glenwood Springs, Colo., and co-owner of Summit Ford in Silverthorne, Colo. His term […] [Read More]

Lithia Motors added two stores in the Western U.S. to its lineup this week. The dealer group, one of the largest in the country, has purchased Crown Chrysler Jeep Dodge Ram Fiat in Concord Calif., and Bennett Motors, located in Great Fall, Mont. The company expects the two new acquisitions to bring in an estimated $75 […] [Read More]

Dealers: do you have customers you would like to notify about their vehicle’s recall status, but you’re apprehensive to contact them due to being on the National Do Not Call Registry? Rest assured: NADA Regulatory Affairs reminds dealers that the “do-not-call” rules do not prohibit dealers from calling consumers about vehicle recalls. As long as the defect […] [Read More]

With even the highest-performing dealership possibly hitting a ceiling of how fast its inventory can turn, Cox Automotive chief economist Tom Webb took the opportunity to reinforce why the certified pre-owned slice of the market is becoming even more important. Webb acknowledged metrics from the seven publicly traded dealership groups show their gross margins in […] [Read More]