In addition to announcing record profits on Wednesday, Penske Automotive Group said it increased its worldwide used-car sales by more than 10 percent in the second quarter, with its year-to-date sum now ahead by more than 12 percent over year-ago figures. Penske sold 45,912 used retail units worldwide in Q2, a 10.4-percent increase in global […] [Read More]

Last month, one of the U.S. senators from the Empire State urged the Federal Trade Commission to take action to create more regulations in connection with dealers selling vehicles with open recalls that haven’t yet been repaired. Then on Wednesday, the Department of Consumer Affairs in New York City launched an investigation of 200 dealerships […] [Read More]

For only the second time this year, a truck model has cracked the national top 10 list of hardest-to-find certified pre-owned vehicles. According to monthly scarcity data that AutoTrader.com provides to Auto Remarketing, the Ram 2500 was the fourth-scarcest CPO vehicle in the country during June. This marks the first time since January that a […] [Read More]

The National Highway Traffic Safety Administration said Hyundai is recalling 883,000 Sonatas from the 2011 through 2014 model years because of a transmission issue. NHTSA determined the shift cable may detach from the shift lever pin in the affected vehicles manufactured between Dec. 11, 2009 and May 29. “If the transmission shift cable detaches while […] [Read More]

Group 1 Automotive’s overall second-quarter figures show a 3.6-percent year-over-year rise in used-vehicle sales and a 6.4-percent lift in new models retailed. But the unusual path company stores in various markets took to those top-line performances is what left president and chief executive officer Earl Hesterberg wondering what happened. Hesterberg described the used-vehicle market overall […] [Read More]

Like some dealers of all sizes are experiencing, Group 1 Automotive turned more used metal during the second quarter but watched its gross profit per vehicle soften year-over-year. According to its Q2 report released on Thursday morning, Group 1 stores in the U.S. retailed 22,707 used vehicles in the quarter, marking a 3.6-percent rise from […] [Read More]

As the wave of second quarter reports ring out from various automotive retailers, several commonalities have emerged. Sales are up. Profits are up. Conditions are ideal, and many are poised for further expansion. However, there was one key limiting factor that has come up in at least two of the groups’ conference calls: finding well-qualified […] [Read More]

As Chrysler announced two recalls covering more than 800,000 units, General Motors made six additional recalls on Wednesday, raising its total for the year to 60 campaigns connected with more than 28 million vehicles worldwide. The newest GM campaigns cover 717,950 recent model vehicles in the U.S. Here is a breakdown of units included in […] [Read More]

Lithia Motors reported its second-quarter results Wednesday, revealing an 11-percent increase in same-store used retail sales. And much of the company’s conference call to discuss Q2 financial results was spent outlining the recent DCH Auto acquisition and what it means for Lithia going forward. And overall used retail sales were up a significant 14.3 percent […] [Read More]

There were plenty of cars available during the second quarter that were nice fits to be sold as certified pre-owned. And there were plenty of high-mileage used cars for the taking. Problem was, says AutoNation executive Mike Maroone, there just wasn’t enough of the middle ground. But the retailer has taken steps to alleviate this […] [Read More]