Golling Automotive Group added a new brand to its Detroit-area dealerships with the acquisition of Mark Chevrolet in Wayne, Mich., from Charles Cabana, a deal announced by Performance Brokerage Services, which represented the buyer. Performance Brokerage Services’ Mark Shackelford Jr. said Golling, which now operates nine franchise locations and a used-car store in the Detroit […] [Read More]

Used-car retailer Carvana reported very strong third-quarter results, driven in part by growing economies of scale, said executives on the earnings call. Though the stock price plunged after the call on concerns about subprime loan performance, Carvana's chief financial officer said its loan performance was strong. “We're getting better as we get bigger, aided by […] [Read More]

Many in the auto industry believe that lower-priced vehicles, or what Lithia calls “Value Auto” vehicles, are driven off of “low-quality credit.” However, “it’s the exact inverse of what you think,” said Bryan DeBoer, president and CEO of Lithia Motors and Driveway. Buyers only finance lower-priced vehicles about half of the time, he said. A […] [Read More]

If you want to keep up with these Joneses, it’s going to cost you a lot. Danny and Gail Jones, owners of Maryland-based Jones Junction Automotive Group, have pledged to donate $20 million to the University of Maryland Upper Chesapeake Health. The donation will be the largest single contribution in the hospital system’s history and […] [Read More]

Retail My Ride has added three free tools to its dealer resource platform. The auto retail consignment sourcing platform announced the launch of the new interactive tools, which it said are designed to help dealers “model, measure and master” a dual-path private party acquisition model, offering both purchase and consignment options to private-party sellers. The […] [Read More]

Two major dealership groups continued on familiar paths in the M&A market with a major acquisition and a major divestiture. Lithia & Driveway, which has been actively adding locations all year, has brought three more into its collection with the purchase of Anaheim Hyundai, Huntington Beach Hyundai and Garden Grove Hyundai in Orange County, Calif., […] [Read More]

October is many things to many people. To some, October means Halloween with its ghosts and goblins.  If you’re into sports, maybe it’s the World Series or the NASCAR championships. It’s also the start of the NHL and NBA seasons. To many, fall is their favorite season and the official kickoff of the holiday season. […] [Read More]

Strong Automotive has introduced a new media strategy designed to fuse the reach of linear TV with the precision and accountability of streaming services. The marketing and advertising agency for dealerships said Modern View was created to deliver a “unified, impression-based buying model” and maximize impact on all screens. “For years, dealers had to choose […] [Read More]

AutoNation reported a relatively strong used-car performance in the third quarter as its focus on optimizing used acquisition showed results. But its inventory holding strategy did expose AutoNation to margin depreciation, AutoNation CEO Mike Manley said during the third quarter earnings call. He expects that to continue in the fourth quarter. “I think we have […] [Read More]

Rick Case Automotive Group has raised its support for a Florida hospital to another level. Rita Case, president and CEO of the South Florida-based dealership group, last week presented a $2 million donation to Cleveland Clinic Weston Hospital in Weston, Fla., to help fund research, education, patient care, programmatic and capital needs. “We have always […] [Read More]