The increase in lease returns isn’t just helping franchised dealers shore up their used-car supply. Apparently, it may also be leading to a lift in transaction prices for these dealers, according to the latest analysis on October used-vehicle sales from CNW Research. “Transaction prices rose more than 16 percent at franchised dealership to $15,678 thanks […] [Read More]

On Tuesday, Ford announced it is issuing five safety recalls in North America, but Blue Oval officials said that only one accident without injuries was attributed to any of the conditions. The single campaign covering the most vehicles is for 134,947 units — the Ford Flex and F-150 — because of a passenger seat occupant classification […] [Read More]

A federal investigation alleged Hyundai and Kia overstated the fuel economy of six late-model vehicles by 1 to 6 miles per gallon, depending on the specifications of the 1.2 million units involved. And the perceived misstep ended up costing the automakers a sum topping $350 million, one of the largest enforcement actions handed out by […] [Read More]

Lithia Motors generated a used-vehicle same-store retail sales increase of 13 percent during the third quarter, fueled in part by a 17-percent climb in the turns of certified pre-owned units. The CPO performance has the attention of Lithia leadership, but not necessarily for the reason industry observers might first expect. See, Lithia reported that sales of […] [Read More]

Penske Automotive Group’s quarterly conference call highlighted company records and third-quarter used sales increases. The group’s chairman, Roger Penske, also revealed some forward-thinking plans regarding company expansion and inventory strategy. “Today, we’re 69 percent, our business, in the U.S., and 31 percent international,” Penske said. “I think you’ll see us, as we go forward, we’ll […] [Read More]

Penske Automotive Group hosted their third-quarter conference call this week, outlining details on multiple company records. Penske posted its highest third quarter and nine-months income from continuing operations and earnings per share in company history. The company had total retail unit sales of 104,963 (U.S. and international combined), a 10.2-percent year-over-year increase. And the used […] [Read More]

As Ford issued a recall for more than 204,000 older SUVs, Chrysler Group announced two more recalls on Wednesday — campaigns that include more than 566,000 trucks and SUVs worldwide. The larger of the Chrysler campaigns covers an estimated 381,876 trucks globally. The reason is to upgrade certain wiring-harness terminals, and if necessary, replace their fuel-heater […] [Read More]

Calling the customer reaction to the launch of the standalone used-car stores “overwhelmingly positive,” Q auto president Casey Coffey said the emails, letters and phone calls flowing in have expressed an appreciation for the experience at Q auto’s stores, with customers saying “that it was like none other that they’ve experienced in a car-buying atmosphere before.” […] [Read More]

Expanding supply means lower used prices. And with a new flow of off-lease vehicles expected to hit the market in the coming years, many in the industry are wary of the impact on used-vehicle retail sales. But AutoNation, who just experienced a 7.5-percent boost in  third-quarter used-vehicle retail sales, as well as a successful overall quarter, […] [Read More]

AutoNation reported a successful third quarter this morning, with an 8-percent spike in new and used retail vehicles sales along with a 10-percent bump in overall revenue. The dealer group reported total revenue of $4.9 billion in Q3, a jump of 10 percent compared to the same period of 2013. Company management said revenue was […] [Read More]