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]

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]