While Vroom continues to suffer a negative financial impact from aged inventory, it did make progress selling down older units in the third quarter. The online used-car retailer sees brighter days ahead and aims to raise capital in 2024, it said during the NASDAQ-listed company’s third quarter earnings call. “This has been a challenging year as we work through ... [Read More]

Del Grande Dealer Group has partnered with Hyundai Hope On Wheels, a nonprofit organization dedicated to helping kids fight cancer, to present its annual research and programmatic grants to Lucile Packard Children’s Hospital in Palo Alto, Calif. DGDG, which bills itself as Northern California’s largest family-owned automotive group, operates 19 dealerships in the region with […] [Read More]

Former PureCars CEO Stephane Ferri has been named CEO of Call Box, a call tracking and analytics firm and parent company of Car Wars. Ferri will focus on continuing the growth of the Car Wars and Call Box brands, including growth in new verticals, increased penetration in the automotive market and further adoption of artificial […] [Read More]

AutoNation has launched a new platform to sell and deliver auto parts. AutoNationParts.com is an e-commerce website that allows customers to purchase parts and accessories and have them shipped directly to their homes. AutoNation said the site aims to provide fast nationwide shipping for guaranteed-to-fit genuine manufacturer parts from more than 25 brands in order […] [Read More]

Sonic Automotive’s scaled-back, standalone EchoPark used-vehicle operation is narrowing its losses and gaining positive momentum, said its executives during the dealership group’s most recent quarterly earnings call. EchoPark’s income loss of $16.9 million in its third quarter that ended Sept. 30 represents a 46% improvement over the year-ago quarter loss of $31.1 million according to Sonic’s financial results. In the third quarter, EchoPark grew its ... [Read More]

The Jeff Wyler Automotive Family reached a milestone today — 50 years in business. In that span, the Ohio-based dealer group has grown from a small Chevrolet dealership in Batavia to 23 locations in Cincinnati, Columbus, Dayton and Louisville, Ky., representing more than 40 brands and selling more than 45,000 cars per year. The original […] [Read More]

Courtesy Automotive Group has added a seventh location with the acquisition of East Valley Nissan in Mesa, Ariz., from owner-operator Greg Burk, according to seller’s representative Kerrigan Advisors. The dealership, renamed Courtesy Nissan of Mesa, is located in the Superstition Auto Mall in Mesa, where Courtesy also has Kia, Jeep and Chrysler/Dodge/Ram stores. The Phoenix-based […] [Read More]

Like most dealership groups, Penske Automotive Group faced headwinds in its used-car business in the third quarter. “The new-vehicle market remains solid while used-vehicle supply and affordability remains challenging,” said CEO Roger Penske. But PAG is counting on an improving supply of loaner cars from the manufacturers to boost its used-vehicle supply going forward, he […] [Read More]

Toyota has charged up its North Carolina battery plant with a jolt of cash. The automaker announced a new investment of nearly $8 billion that it said will add some 3,000 jobs at Toyota Battery Manufacturing North Carolina. The addition boosts Toyota’s total investment to $13.9 billion, which is expected to create more than 5,000 […] [Read More]

AutoNation’s used-car business remained challenging in the third quarter, so the publicly listed auto retailer chose to focus on sequential improvement in used- vehicle sales during its earnings call. Used-vehicle unit sales increased by 5% in the third quarter compared to the previous quarter to 72,517 units, “which would not be possible without a daily focus on vehicle sourcing,” said CEO Mike Manley He acknowledged continuing difficulty obtaining enough used inventory and highlighted AutoNation’s ... [Read More]