While also discussing how used-vehicle operations can help offset Japanese production shortfalls, Asbury Automotive Group shared how it enjoyed a healthy gain in first-quarter adjusted income from continuing operations, thanks to both used- and new-vehicle unit sales climbing by more than 20 percent. Asbury revealed Wednesday that its adjusted income from continuing operations for the […] [Read More]

With summertime fast approaching, organizers of the Auto Remarketing Training Series want dealers armed with the best plan to find inventory that’s priced right and can turn quickly. Many experts are predicting that as some new-vehicle inventory becomes tight due to the Japan quake, late-model used vehicles could be the next best thing for customers. […] [Read More]

Lithia Motors recorded first-quarter earnings that nearly quadrupled the year-ago sum, enjoyed a 45-percent spike in new-vehicle revenue and also notched double-digit increases in used, F&I and service/body/parts revenues. Lithia’s first-quarter net income from continuing operations came in at $9.1 million, up from $2.3 million in the year-ago period. Results from both periods exclude non-core […] [Read More]

During the first quarter, Hertz Global Holdings trimmed its losses, improved its balance sheet and its U.S. car rental business and posted its best-ever adjusted pre-tax income. And it appears the rental-car giant may be in store for some more good news later this year, as it upped its 2011 guidance across the board. Looking […] [Read More]

Fueled by record used-vehicle sales, Sonic Automotive posted a robust first-quarter net-income jump. Company executives reported Tuesday that their net income came in at $14.9 million, up from $4.1 million generated in the first quarter of last year. As a result, Sonic determined first-quarter earnings from continuing operations were 27 cents per diluted share compared […] [Read More]

Along with highlighting the company’s double-digit first-quarter net income gains, AutoNation chairman and chief executive officer Mike Jackson offered another assessment of  the Japanese earthquake’s impact on the full-year industry outlook. “While the underlying recovery in consumer demand for autos remains on track in the United States, due to Japanese supply constraints throughout the remainder […] [Read More]

Group 1 Automotive enjoyed more than a 48-percent increase in its adjusted net income during the first quarter, and officials seemed relatively optimistic about the dealer group’s ability to weather potentially significant disruptions in the supply chain stemming from the Japanese disaster’s aftermath. Announcing its first-quarter earnings on Tuesday, Group 1 said its adjusted net […] [Read More]

Chevrolet announced Tuesday it will celebrate National Military Appreciation Month by expanding the GM Military Discount to military spouses and retirees. During the month of May, the GM Military Discount program will be extended to spouses of active and reserve members, as well as retirees of the U.S. Air Force, Army, Navy, Marines, National Guard […] [Read More]

Apparently, Toyota and Honda are getting a better handle on where their suppliers stand in quake-jolted Japan. Both companies are now reporting that normal worldwide production is unlikely to resume until almost the end of this year. After an in-depth analysis of its suppliers affected by the earthquake and tsunami, Toyota announced global production will begin to ramp up as soon […] [Read More]

As the automaker sets its sights on ramping up worldwide sales to catch Toyota, Volkswagen of America looked to Subaru for its new chief product and marketing officer for the Volkswagen brand. Tapped for the job was Timothy Mahoney, who will report to Jonathan Browning, president and chief executive officer of Volkswagen Group of America and […] [Read More]