Third-quarter results are showing the alliance between Chrysler and Fiat is not only working — it’s thriving because the relationship is producing vehicles analysts believe consumers want. On Thursday, Chrysler Group reported preliminary net income of $212 million for the third quarter, compared with a net loss of $84 million a year ago as the […] [Read More]

Ford Motor Co. of Canada will officially have a new president and chief executive officer on Tuesday to replace David Mondragon, who is moving on to serve as general marketing manager in the U.S. for Ford and Lincoln. Stepping into the role is Dianne Craig, who has been with the company since 1986. Her most recent […] [Read More]

Since it was judged against the company’s best performance ever, Ford accentuated the positives although the automaker watched its third-quarter net income drop by $38 million or 2 cents per share year-over-year. The Blue Oval said Wednesday that its third-quarter net income totaled $1.6 billion, or 41 cents per share, but Ford president and chief […] [Read More]

In a period that saw the dealership group’s same-store used- and new-vehicle sales climb double-digits, Lithia Motors enjoyed nearly a 70-percent spike in income from continuing operations during the third quarter, the retailer reported Wednesday. Specifically, Lithia posted income from continuing operations of $16.3 million, up from $9.6 million a year ago. Quarterly revenues from […] [Read More]

Asbury Automotive Group established another record used-to-new sales ratio during the third quarter, when the group saw its used-vehicle retail revenues shoot up 19 percent, including 14 percent from same-store results. Asbury reported adjusted income of $14.3 million Wednesday, or 44 cents per diluted share. In the same quarter a year earlier, the company’s adjusted […] [Read More]

Although it still faced the hurdles of Japanese supply shortages and economic challenges, Group 1 Automotive managed to achieve close to a 24-percent spike in adjusted net income and saw growth across the board. What’s more, Group 1 notched a record for  F&I gross profit per unit, which came in at $1,156. “We are pleased […] [Read More]

Sonic Automotive’s used-vehicle department continues to be a catalyst for overall success as the company now has generated 10 consecutive quarters of double-digit growth in both used revenue and volume. Company executives highlighted Tuesday that their third-quarter used vehicle revenue shot up 17 percent year-over-year, while used volume climbed 16 percent. The used-vehicle performance helped […] [Read More]

Carfax announced today that another automaker is utilizing the company as the vehicle history provider for its certified pre-owned program. Adding Carfax reports to its CPO program is Kia Motors America, which is now providing these reports with each certified vehicle, giving its dealers another strong selling point for CPO. With the addition of Kia, […] [Read More]

Though still challenged by Japanese inventory issues in the third quarter, AutoNation’s net income from continuing operations soared more than 20 percent, and the retailer achieved its best-ever third quarter for earnings per share from continuing operations. [Read More]

Now all members of the Big 3 and the UAW have their negotiations settled. Ford confirmed this morning a new national labor agreement has been ratified by UAW-represented employees in the U.S. The automaker believes the agreement covering approximately 41,000 employees improves its competitiveness in the U.S. The OEM indicated it is adding 12,000 hourly […] [Read More]