CarMax posted a 25-percent lift in net earnings during the first quarter, and with a spike in store traffic, the retailer also enjoyed comparable used sales that climbed 6 percent. More specifically, CarMax’s net earnings came in at $126.3 million ($0.55 per diluted share) for the fiscal first quarter, which ended May 31. This sum […] [Read More]

Lexus has new leadership within its certified pre-owned operation, Auto Remarketing learned this week. Former national CPO manager Chuck Yaeger is now the Lexus national customer satisfaction manager, while the former holder of that role, Denise Jacobson, was named national market representation/CPO manager, which is a newly created position. Additionally, performance accessories manager Jeff Koford […] [Read More]

With the former chief financial officer for Asbury Automotive Group stepping into the president and chief executive officer role, the company revealed Tuesday that it’s search for a new CFO is over. Asbury announced Tuesday that Scott Krenz will be the new CFO and senior vice president, effective June 27. The company is “fortunate to have a […] [Read More]

As positive developments on the production front for Japanese automakers roll in after months of struggles in the earthquake’s aftermath, these companies should also see some benefits within their used-vehicle and certified pre-owned operations, as well. Toyota, for one, plans to have production at 100-percent capacity for September and is reportedly accommodating for this production […] [Read More]

Kelley Blue Book announced today that it has joined the National Independent Automobile Dealers Association National Member Benefit Program, meaning NIADA members can now tap into KBB’s various offerings — including the newly launched Quick Values — to help them become more profitable and efficient. Independent dealers can turn to KBB for vehicle valuation as well as […] [Read More]

Group 1 Automotive’s regional structure will soon have a new look. The retailer announced Monday that its three U.S. regions will be consolidated into two starting next month, while also revealing the leaders for those respective regions and a new position: vice president of marketing. [Read More]

For dealers considering new ways to ramp up their online sales division, Auto Remarketing is hosting Pat Ryan Jr., the chief executive officer and co-founder of INCISENT Technologies, makers of FirstLook and MAX Systems. Today’s free Webinar is set to include Ryan’s presentation about emerging trends connected with online behavior and decision making of the […] [Read More]

The Government Accountability Office’s auto safety report released last week called for the National Highway Traffic Safety Administration to tweak its recall processes, noting considerable “room for improvement” in how the U.S. handles automobile recalls. [Read More]

As they struggle to fulfill inventory needs on both the new-car and used-car sides this summer, Toyota dealers received some positive news Thursday. The automaker revealed it expects North American production levels will be fully restored in September. So why is this such good news? When a dealer can’t offer a new-vehicle option to a consumer, the […] [Read More]

Group 1 Automotive strengthened its market presence in El Paso, Texas, this week by acquiring two more franchise dealerships. The group secured Shamaley Ford and Shamaley Buick-GMC. The dealerships are expected to generate $190.0 million in total estimated annual revenues, according to Group 1. “The acquisition of Shamaley Ford and Shamaley Buick-GMC will complement the […] [Read More]