Toyota Motor Sales USA will conduct two safety recalls involving Prius vehicles as part of the recall announced Wednesday by Toyota Motor Corp. Approximately 670,000 Prius vehicles are being recalled in the United States — part of the 2.8 million units being brought back worldwide — to inspect and in some cases replace the steering […] [Read More]

Penske Automotive Group acquired two Wisconsin dealerships this week, Jon Lancaster Toyota Scion and Lexus of Madison. The company said the acquired dealerships are expected to contribute annualized revenues of approximately $130 million. The Toyota dealership is located in east Madison and operates on 10 acres with approximately 70,000 square feet of facilities for sales […] [Read More]

IntelliChoice.com announced its 2013 Certified Pre-Owned awards Tuesday afternoon at Used Car Week, and receiving the Best Popular CPO Program Award was Hyundai, while Volvo took honors as the Best Premium CPO Program Award winner. Hyundai has won the popular category two years in a row, and Volvo extended its streak of premium category wins […] [Read More]

Two Western dealership groups recently outlined plans either to upgrade some of their franchised facilities or build new showrooms. First, the Larry H. Miller Dealership Group announced plans for the organization’s more than $30 million West Valley dealership reconstruction effort in Arizona with an estimated completion target of the spring or summer of next year. […] [Read More]

One of the coolest things about my job is quick access to a lot of really smart people. When I have a question that requires industry-level data, help is only an e-mail or phone call away. I used this privilege the other day after talking with a dealer about a gross profit problem in used […] [Read More]

For dealers feeling the pinch of tight used-vehicle supply over the past few years, Joe Derkos had an encouraging message Monday afternoon during the opening day keynote address at Used Car Week. “Relief is right around the corner,” said Derkos, J.D Power’s director of consulting and analytics. “In fact, we’re probably already there.” [Read More]

For the state that has been wracked by two sweeping storms in the past 14 months — first Hurricane Irene in 2011 and the more recent Superstorm Sandy — many dealers are still struggling to get back on their feet; assessing damage from October’s storm and working through insurance claims at a quick clip. Mark […] [Read More]

Both Ferrari and Ford are doing their part to provide aid to those affected by Hurricane Sandy. While Ferrari is auctioning off one of its highline units to support storm relief, Mississippi Ford dealers are sending supplies to help Staten Island, N.Y., communities damaged by the superstorm. [Read More]

Kia and Subaru each had their best certified pre-owned months of all time in October, and they weren’t the only ones celebrating records last month. The CPO market posted its strongest October ever, and at least two brands did the same, as a litany of certified programs continue to achieve hearty numbers in what will […] [Read More]

Auto Remarketing will recognize Longo Toyota as its 2012 CPO Dealer of the Year later today during a special presentation at Used Car Week, which gets underway with the annual CPO Forum. Paul Faletti Jr., president and chief executive officer of award sponsor NCM Associates, will present the award to Greg Penske, chairman and chief […] [Read More]