General Motors made several moves Thursday meant to reduce its debt by as much as $11 billion as well as unveiled a strategy to shore up its balance sheet as an initial public offering approaches. Chris Liddell, GM vice chairman and chief financial officer, described the actions as decisions that will bring down the manufacturer’s […] [Read More]

Along with revealing the six states where it will operate Fiat dealerships, AutoNation discussed how a lower overall third quarter net income figure still resulted in an improvement on a per-share basis. The company shared Thursday that its third quarter net income from continuing operations came in at $59 million, or 39 cents per share. […] [Read More]

Thanks largely to stronger vehicle sales, Lithia Motors said it saw a double-digit improvement during the third quarter in revenue from continuing operations. Specifically, the company posted $582.7 million quarterly revenue from continuing operations, a 15-percent upswing from the third quarter of 2009. Adjusted net income came from continuing operations $0.37 per diluted share, versus […] [Read More]

Sean Bradley and Dealer Synergy have created a new comprehensive website aimed at providing useful training for dealership Internet departments and business development centers. More than a dozen dealer-focused functions connected with social media and more are associated with the site at www.automotiveinternetsales.com. Among some the highlights of the new site are: —Monthly award for […] [Read More]

While also sharing its latest market forecast that now includes projected used-vehicle sales, TrueCar.com Wednesday revealed its new president and chief operating officer. Stepping into the role is Stephen Hansen, who will be expected to lead the company’s strategic planning, product and technology development, marketing and management to accelerate its growth. Hansen will report directly […] [Read More]

BMW of North America announced Tuesday that it conducting two separate recalls that, when combined, affect about 150,800 units. With regards to the larger of the two recalls — which is an emissions recall — the company said it told the U.S. Environmental Protection Agency that it plans to recall certain 2007 through 2010 BMW […] [Read More]

Chevrolet has turned to major league’s baseball pinnacle event — the World Series — to kick off its latest ad campaign. The “Chevy Runs Deep” campaign showcases models like the Cruze and Volt, spotlights the history and potential of the brand and discusses the brand’s association with American life as well as with baseball. The […] [Read More]

Group 1 Automotive’s double-digit revenue lift during the third quarter — including substantial gains on the used-vehicle side — helped push the auto retailer’s quarterly earnings to a considerable increase. Specifically, Group 1 had adjusted net income of $19.3 million, up 14.6 percent from $16.8 million in the year-ago period. Net income for the recent […] [Read More]

AutoTrader.com chief executive officer Chip Perry believes the acquisition of Kelley Blue Book means a significant upgrade in how dealers can harness the Internet to sell vehicles. Soon after Tuesday’s acquisition announcement, Perry shared in an exclusive interview with Auto Remarketing how the online resources of AutoTrader and KBB can thrive. “Our strength is classified […] [Read More]

Thanks to gains in retail revenue — especially for used vehicles — Sonic Automotive posted an uptick in third-quarter adjusted earnings from continuing operations. Company executives reported Tuesday the earnings climbed to 27 cents per diluted share, up from 26 cents during the same quarter last year. “Our total revenues were up approximately 9 percent over […] [Read More]