It was announced this afternoon that Mitch Golub, president of Cars.com, is retiring from the company after nearly two decades with the vehicle-listing website. Dan Jauernig, chief executive officer of Cars.com, will also assume the role of president. Jauernig is a veteran of Classified Ventures, LLC., the former ownership company of Cars.com. This past August, Auto […] [Read More]

Michigan Republican governor Rick Snyder signed legislation Tuesday officially banning Tesla Motors and any other carmaker from selling directly to car-buyers in the state, but this past weekend,Tesla chief executive officer Elon Musk hinted his position on direct sales is not set in stone. Last Saturday, Musk sat down with John McElroy, the host of […] [Read More]

When asked how Hyundai of New Port Richey has managed to lead the pack for certified pre-owned sales, store owner Scott Fink boils it down to two key factors. First, he said, the dealership’s strong new-car sales enables it to take in more trades. And Fink said the store targets late-model Hyundai vehicles. “We’re forever […] [Read More]

The National Independent Automobile Dealers Association announced this week that it now approves 700Credit as a NIADA National Benefit Partner and credit data provider to its dealers. “We couldn’t be more proud to be selected by NIADA as a National Member Benefit partner,” Kenneth Hill, the managing director at 700Credit, said. “NIADA is leading its independent dealer […] [Read More]

The National Highway Traffic Safety Administration broadened its advisory to have vehicles with defective Takata airbags repaired as quickly as possible; a move cheered by a pair of Kelley Blue Book analysts. NHTSA first urged owners of more than 4.7 million vehicles to take action and then expanded it to more than 7.8 million units from […] [Read More]

Auto Remarketing is hosting NADA Used Car Guide for a free webinar to help dealerships smooth out what consumers consider one of most dreaded parts of the buying process. During the free session titled, “Close More Deals, Negotiate Less,” a pair of NADA UGC experts will ask dealers how satisfied their customers are with the […] [Read More]

There were two key factors driving down used-car gross margins for Asbury Automotive Group during the third quarter, but the period had some very positive results in both pre-owned and overall results.  Starting with some of the used operational results, Asbury’s Q3 same-store used retail gross profit was up 1 percent at $31.9 million.  Executive vice president […] [Read More]

Sonic Automotive reported its third quarter results today, highlighted by several all-time records. In addition to setting an all-time record for new retail unit sales (36,301 units, up 6.5 percent year-over-year), Sonic also set a new all-time record for pre-owned gross profit, revealing a 5.8-percent increase year-over-year with a pre-owned gross profit of $41.2 million. […] [Read More]

Dealers who participated in KeyBanc Capital Markets’ monthly automotive retail industry update survey gave some candid comments about their used-vehicle prospects, especially in light of 44 percent of respondents saying they expected gross profit per unit to soften by about $50. Despite that gross-profit expectation, the vast majority of dealers surveyed in September (78 percent) […] [Read More]

Auto/Mate Dealership Systems announced this week a product development that company management says will streamline dealership workflow. The company has integrated its dealerships management system with etfile’s electronic document management solution. Now, dealers using the etfile document imagining, filing and retrieval system can now get deals from F&I and repair orders from service, via delivery […] [Read More]