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]

With authorities receiving 12 complaints of engine compartment fires, Mini Cooper S vehicles from model years 2007 and 2008 are being examined by the National Highway Traffic Safety Administration’s Office of Defects Investigation. The investigation involves 36,000 units across the following models: 2008 Mini Cooper Clubman S 2007–2008 Mini Cooper S 2007–2008 Mini Cooper S […] [Read More]

Thanks to used-car trade-in values being above average, the new-car market is likely to see a nice lift during the fourth quarter, according to NADA Used Car Guide senior analyst Jonathan Banks. Interestingly enough, though, high trade-in values didn’t keep used sales from remaining strong in September, Banks pointed out in a video interview with […] [Read More]

Chrysler celebrated a landmark sale in its certified pre-owned program last month when a Chicago-area woman became the 1 millionth Chrysler CPO customer. Back in September, Jessica Taskay — who is 21 years old, hails from Lockport, Ill.,  and works as a kennel manager — bought a certified 2010 Jeep Patriot Sport at Bettenhausen Motor […] [Read More]

Industry groups, dealers and analysts, as well as Ford’s Alan Mulally, all applauded this week’s congressional action to push the United States–South Korea Free Trade agreement that has awaited ratification since it was approved by both countries in 2007. In a study requested by the Senate, the United States International Trade Commission found KORUS will create […] [Read More]

Group 1 Automotive’s dealership network has recently grown by four stores, as the company announced Tuesday it acquired a General Motors store in Houston to go along with three dealership openings throughout Texas and California. Group 1 bought David Taylor Cadillac Buick GMC in Houston and is rolling out a new Volkswagen store in the […] [Read More]