All in all, the 2013 third quarter was good for public dealer companies. No surprise, strong new- and used-vehicle sales, coupled with gains in F&I, parts and service, drove a largely positive financial performance for the groups reporting their quarterly results last week. In reviewing the earnings call transcripts from Asbury Automotive Group, AutoNation, Group […] [Read More]

With used-car sales predictions coming in at above 3 million and new-car sales expected to achieve the best October seen since 2007, it seems trouble in Washington, D.C., earlier this month didn’t affect the industry too much. TrueCar.com revealed its predictions Monday, announcing it expects used-car sales to reach 3.5 million units. The ratio of […] [Read More]

Online service AskPatty.com Inc. has named a veteran of the automotive industry as president of its sales and marketing. The company, which offers automotive advice and helps connects women with its Certified Female Friendly auto retailers, has announced Cherie Watters has been chosen for the role. With a degree in finance, Watters began her automotive […] [Read More]

With leasing levels ramping up to above pre-recession levels, the potential impact this trend could have on residual values is top-of-mind for manufactures, and it would seem, dealer groups, as well.   During AutoNation’s third-quarter earnings conference call last week, the topic came up as a question from Credit Suisse AG’s Research Division during the […] [Read More]

Toyota partner Southeast Transportation Systems has earned a SmartWay Excellence Award from the U.S. Environmental Protection Agency, recognizing the company as an industry leader in environmental performance and energy efficiency. STS received a SmartWay Excellence Award in the large fleet category of the auto segment for 2013, for its use of advanced technology to reduce […] [Read More]

AutionNation revealed its third-quarter results Thursday, showing some good news for the company’s pre-owned department. Retail used-vehicle unit sales increased 15 percent overall and 11 percent on a same-store basis during Q3, AutoNation reported. More specifically, AutoNation retailed 52,659 used units overall during the quarter and has moved 155,280 so far this year (up 12.5 percent. […] [Read More]

Group 1 Automotive sold 22,206 used retail vehicles in the U.S. during the third quarter, more than a 5-percent year-over-year increase and a contributing factor to the revenue gains for the retailer. Group 1 reported total U.S. revenue of $1.89 billion during the quarter, which was up 4.1 percent from the third quarter of 2012. […] [Read More]

Ally Financial said Thursday that 57 dealers have been selected as nominees for the 2014 TIME Dealer of the Year award, which recognizes the nation's most successful dealers who also demonstrate a long-standing commitment to community service. Now in its 45th year, the TIME Dealer of the Year award is recognized as one of the […] [Read More]

Though used sales in October have slowed a bit due to the government shutdown earlier this month, Edmunds.com announced Thursday it is predicting October sales will “keep pace.” The site is predicting an estimated 3.06 million used cars will be sold in October, for a SAAR of 35.6 million (compared to 3.02 million — or […] [Read More]

Fueled by across the board gains on the used-vehicle side, Lithia Motors on Wednesday reported the highest quarterly adjusted net income from continuing operations in company history. Lithia also enjoyed a 27-percent year-over-year increase in adjusted net income per share from continuing operations for the third quarter. Executives shared that Lithia’s Q3 adjusted income from […] [Read More]