More than a million new-car intenders this year will likely opt for a used vehicle instead, according to CNW Research, which said that taking the certified pre-owned route could be a very popular choice among these consumers. Of course, the pipeline of off-lease vehicles is a vital piece to maximizing CPO potential, and that requires […] [Read More]

Sonic Automotive executive vice president of operations Jeff Dyke continues to gush about what the company’s inventory management is doing for the group, going so far as to say this week that July is shaping up to be Sonic’s best month ever for used-vehicle sales performance. Dyke declared that the Sonic Inventory Management System (SIMS) […] [Read More]

It very well might be the site that makes some dealership general managers cringe most — a customer leaving the showroom without making a purchase. As Sonic Automotive continues to implement its True Price sales strategy, executive vice president of operations Jeff Dyke is OK with letting that customer leave without keys and a contract […] [Read More]

Asbury Automotive Group announced its second-quarter results Tuesday, revealing that both used retail revenue and pre-owned sales soared by double digits during the period. Other highlights of the quarter included a series of new acquisitions, as well as considerable growth in service department revenue from its dealerships during the second quarter. [Read More]

Many buy-here, pay-here dealerships originate contracts with interest rates at 20 percent and higher. It’s one of the reasons why store managers in California cheered a year ago when the governor vetoed a measure that would have capped APR at BHPH dealerships in the Golden State at 17.25 percent. However, in the middle of the […] [Read More]

Sonic Automotive dealerships turned an average of 89 used vehicles per month during the second quarter, a span in which the retail total ended up nearly flat against the year-ago period. According to the report the company put out this morning, that average retail sales total pushed Sonic’s used-unit volume to 26,599 vehicles during Q2. […] [Read More]

Asbury Automotive Group announced today its second-quarter results, revealing that both used retail revenue and pre-owned sales soared by double digits during the period. Actual used sales were up 22 percent year-over-year, coming in at 17,703 units, compared to 14,496 sold during Q2 of last year. With total revenue increasing by 16 percent to $1.3 billion […] [Read More]

Overall, 2012 was a good year for franchised car dealers. In its recent recap of last year’s dealership financials, the National Automobile Dealers Association reports that total dealership sales increased 9.2 percent compared to the prior year, driven by gains in the new- and used-vehicle departments, as well as F&I. But the relatively rosy portrait […] [Read More]

During a reporting period where car sales, in general, were on the incline for the bulk of the country, dealers in several of the Federal Reserve’s 12 districts were noting solid used-car markets. That’s according to the latest Beige Book report from the Fed, which indicated that the Cleveland, Richmond, St. Louis and San Francisco […] [Read More]

The North Carolina Automobile Dealers Association applauded Gov. Pat McCrory signing several new motor vehicle franchise law provisions into the books last week. The signed measure — Senate Bill 717 — covers many areas of the North Carolina Motor Vehicle Dealers and Manufacturers Licensing Law, including: — Ability of dealers to offer non-manufacturer ancillary products […] [Read More]