There were 2.11 million certified pre-owned sales in 2013, according to Autodata Corp., representing the best year ever for the CPO market, the third straight year of record-breaking sales and the first time the industry has ever reached the 2 million unit threshold. And this historic sum will likely be “blown away” by what happens […] [Read More]

Lithia Motors released its fourth-quarter and full-year 2013 results on Wednesday, showing the highest Q4 adjusted net income and the largest annual revenue in company history, as well as double-digit boosts in new and used sales. President and chief executive officer Bryan DeBoer also noted in the company’s conference call to discuss financial results on […] [Read More]

Lithia Motors is well on its way to reaching 75 used sales per month per store, but it still has a bit of a ways to go from its current average of 53. That said, expanding used supply and its in-house inventory tools could provide the needed boost to reach Lithia’s used-sales goals. During last […] [Read More]

When Sonic Automotive opens its debut stand-alone pre-owned specialty retail sales location later this year, don’t expect it to have the same feel as a CarMax store or a “traditional auto retailer.” Though Sonic is largely keeping its cards close to the vest when discussing the specifics of the program, a few details emerged Wednesday […] [Read More]

The U.S. franchised dealership count remained fairly steady last year and throughput, or new-vehicle sales per store, hit a record high — two trends that Urban Science says the market could repeat for 2014. The firm released its 2013 Automotive Franchise Activity Report on Monday and was predicting a fourth straight year of stability in […] [Read More]

For a feature in the latest print edition of Auto Remarketing, Don Luke of Bill Luke Chrysler Jeep Dodge Ram Fiat was asked how his dealership makes certified pre-owned vehicles and the CPO department stand out. It boils down to strong training, branding and educating the customer properly, he said. “We spend a lot of […] [Read More]

On the used-car side of its business, Penske Automotive Group has taken a “retail first” philosophy and that — along with support from PenskeCars.com as well as off-lease and loaner volumes — has helped generate some of the pre-owned success within the dealer group’s retail operations. When asked last week by an analyst during the […] [Read More]

Gross profits per used unit were down, but Penske Automotive Group retailed close to 15 percent more used vehicles last year, capping 2013 with a 17.8-percent increase in used sales for the fourth quarter.   This was part of a record-breaking overall year for Penske, whose leadership called it the “most successful” the retailer has […] [Read More]

In the fourth quarter, the percent of used-vehicle sales at franchised dealerships comprised of certified pre-owned vehicles was at a seven-year high, according to Edmunds.com, which is projecting another record CPO year. Edmunds said in its latest Used Market Quarterly Report that certified units represented 20.2 percent of all used sales by franchised dealers in […] [Read More]

After years of unusually high used-car prices due to tight used supply, prices finally began falling in 2013. And the rate of decline is predicted to speed up this year, perhaps turning many consumers’ eyes toward used deals. According to Edmunds.com’s latest Used Market Quarterly report, expanding supply will serve to push pre-owned prices down […] [Read More]