In a business as relatively new as the certified pre-owned market, the tides are still turning, and nothing seems to stay the same for long. Just a couple of years ago, off-lease vehicles had dried up, and it was no easy task to fill a CPO lot; now, off-lease supply is flowing in droves, and […] [Read More]

During its third-quarter conference call, Sonic Automotive highlighted several all-time records, including those set for new retail unit sales, pre-owned gross profit and third quarter total gross profit. When asked if something was happening to separate Sonic from the pack during its strong quarter and used-vehicle sales increase of about 5 percent on the same-store […] [Read More]

Like many dealerships are facing nowadays, Group 1 Automotive had to turn more used vehicles to push its overall revenue and gross profit figures higher during the third quarter because gross profit per unit softened by 3.3 percent, or $52, per vehicle. The company’s top-line third-quarter metrics in the used department settled with retail revenues […] [Read More]

On a Thursday afternoon at a hotel in the Charlotte suburbs, a crowd of auto journalists — flanked to the left by a deep blue 2015 Toyota Camry XSE reflecting overhead ballroom lights — listened to a presentation on the Camry’s redesign by Darlene Morgan of Southeast Toyota Distributors. Southeast Toyota was hosting a media event […] [Read More]

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]