Reflecting on General Motors’ first full year of operations after emerging from bankruptcy as a new company, chairman and chief executive officer Dan Akerson touted the “good start” that 2010 represented with net income approaching $5 billion — GM’s first profitable year since 2006 — and revenues exceeding $135 billion But he also stressed that GM […] [Read More]

From a loss of nearly $1 million to an adjusted net income level surpassing $5 million: That’s what Lithia Motors accomplished during the fourth quarter thanks to significant gains in both used- and new-vehicle sales. Lithia officials this week announced fourth-quarter adjusted net income from continuing operations came in at $5.6 million or 21 cents […] [Read More]

More than 2 million Toyota and Lexus vehicles are being recalled in the U.S., including about 1.38 million units that have been added to the floor-mat entrapment recall from 2009. Overall, approximately 2.17 million vehicles are being recalled in three separate actions by Toyota Motor Sales USA. There are two new recalls that deal with […] [Read More]

Ford announced this week it’s voluntarily recalling 144,000 F-150s from the 2005 and 2006 model years stemming from a relatively low risk of inadvertent airbag deployments. The automaker explained in a message to Auto Remarketing that the recall includes 135,000 units in the U.S. and 9,000 in Canada. Ford said the inadvertent airbag deployments are […] [Read More]

Coming on the heels of its advertising campaign connected with the Super Bowl, Hyundai Motor America outlined its strategy as the company serves as the exclusive automotive sponsor of the 83rd Academy Awards, which are set to be broadcast Sunday on ABC. The automaker highlighted that nine Hyundai ads will air throughout the coverage — […] [Read More]

The general manager at Classic Chevrolet outside of Dallas — the No. 1 volume Chevy dealership in the U.S. for the five consecutive years — doesn’t think he has some secret formula. Hagen Durant declared how proud he is of what the store team has achieved during the past half-decade because of one primary strategy […] [Read More]

Group 1 Automotive revealed an expansion Tuesday within its hometown, as it purchased a Houston Ford store. Group 1 will run the store as Sterling McCall Ford in its Central Region. The dealership was previously known as Freeway Ford. Officials estimated the dealership will bring in annual revenues of about $70 million. It is located […] [Read More]

Volkswagen of America chief executive officer Jonathan Browning said that VW  “lost our bearings” in the U.S. market after grabbing significant share here decades ago, but stressed that VW has made regaining its traction in the U.S. a “top global priority."  He also also shared the progress VW has made in the U.S. and outlined […] [Read More]

Sonic Automotive said Tuesday that it not only enjoyed a rather robust fourth quarter, but closed the period with its most profitable month ever. The company released quarterly and full-year earnings results Tuesday, and indicated that adjusted net income for the fourth quarter was $16.55 million, compared to an adjusted net loss of $7.24 million […] [Read More]

Fueled by both new- and used-vehicle same-store unit sales jumping more than 20 percent, Asbury Automotive Group revealed the specifics of its fourth-quarter rise in adjusted income from continuing operations. Executives stated that enhanced sales performance pushed Asbury to a fourth-quarter adjusted income total of $12.4 million or 37 cents per diluted share. In the […] [Read More]