The amount of profit that a franchised dealer pulled out of his or her used-vehicle department in 2011 was the highest it had been in four years. That’s according to data from the National Automobile Dealers Association, which indicates that the average used-car department net profit at franchised dealerships last year was $110,618. The last […] [Read More]

What first began as an investigation by the National Highway Traffic Safety Administration turned into a recall last week for the Ford Escape from the 2001 through 2004 models years. Officials said the Blue Oval is recalling 423,634 Escapes equipped with 3.0L V6 engines and speed control. These units manufactured from Oct. 22, 1999 through […] [Read More]

Contained within a wide-ranging discussion, Group 1 Automotive highlighted how a 27.9-percent jump in the number of used vehicles retailed made up for a 12.1-percent dip in the gross profit per used model sold during the second quarter, a span that included a new company record for adjusted net income. Executives indicated during a conference […] [Read More]

For at least the second time this month, a group listed among Auto Remarketing’s top dealership groups for used sales has made a sizable business acquisition. On Thursday, Kenny Ross Automotive Group announced it has acquired the four-dealership Hamilton Automotive of North Huntingdon, in a deal worth between $8 and $10 million. The news was […] [Read More]

A $100 million investment, 400 new jobs and a lot more Lexus vehicles coming off the line — that’s the word from Toyota Motor Manufacturing Canada Inc. this week. In the company’s second major expansion announcement this year, Toyota said it will hire 400 new employees and make the investment at its Cambridge, Ontario facility […] [Read More]

With used-vehicle sales up by double digits, Lithia Motors stressed the importance of trade-ins to dealers as the company highlighted its second-quarter results. Used-vehicle retail same-store sales increased 20 percent, and Bryan DeBoer, president and chief executive officer, highlighted that the company is focused on acquiring more trade-ins for its stores in an effort to […] [Read More]

Two of Chrysler Group’s most popular models — the Ram 1500 and the Jeep Grand Cherokee — are now the subject of separate probes by the National Highway Traffic Safety Administration’s Office of Defects Investigation. Nearly 337,000 vehicles are included in documents posted on SafeCar.gov; announcements that cover the 2009 and 2010 Ram 1500 and […] [Read More]

Hyundai Hope On Wheels announced this week a 2012 5K Run/Walk Series that will travel to three U.S. cities. The series was launched in a continued effort to raise awareness and research funds for  pediatric cancer, officials explained. After holding a well-received inaugural 5K event in Orange County last year, Hope On Wheels shared it […] [Read More]

The effects of the March 2011 earthquake and tsunami in Japan on the auto industry are well documented, along with a plummet in Japanese automaker loyalty rankings. Now, according to Experian Automotive, Toyota and Honda are rebounding, as each OEM saw strong comebacks in corporate loyalty in first quarter 2012 Toyota finished third in overall […] [Read More]

Reporting second-quarter earnings this morning, Asbury Automotive Group pulled up used retail sales by 6 percent and increased overall used revenue by 7 percent. This was part of a period when Asbury hit its best-ever quarter earnings per share from continuing operations ($0.69), while increasing net income from $14.2 million to $21.1 million on a […] [Read More]