Doug Austin noticed car dealers were struggling with slowing sales and increasing expenses, and decided to do something about it. Austin, the founder and chairman of StrategicSource, came up with the Dealer Profit Alliance, a new program designed to show dealers how StrategicSource’s resources can help them increase revenue. “Interest rates have decreased but they […] [Read More]

Volkswagen’s plan to revive the Scout brand has drawn the wrath of the National Automobile Dealers Association. Last week, Reuters reported the VW-backed Scout Motors company will sell its electric SUV and pickup truck directly to consumers rather than through dealers, quoting CEO Scott Keogh as saying he expects Scout to have some three dozen […] [Read More]

EchoPark’s record-setting bandwagon continues to roll. Sonic Automotive’s used-car operation has taken off in 2024, and it soared to a third consecutive record quarter for gross profit, according to the company’s third quarter financial results, released this week. EchoPark’s gross of $55.2 million was the best ever for Q3, and that wasn’t the end of […] [Read More]

In reporting its third quarter financial results Friday, AutoNation sang the second verse of a similar song from Q2. Revenues, gross profits and net income were all down year-over-year, in part because the residual effects of the CDK Global outage in June carried over into the beginning of Q3 in July. In AutoNation’s Q2 earnings […] [Read More]

The past three months have been good to Lithia & Driveway. In this week’s news release of third-quarter financial results, the global automotive retailer and finance provider reported the highest third quarter revenue in company history at $9.2 billion, up 11% from Q3 2023. For the first nine months of 2024 revenues rose to $27 […] [Read More]

When it comes to where they buy a car, consumers trust dealers far more than their peers — but they still have concerns about dealers. A new nationwide survey by AppraisalPRO, a recently launched FIXD Automotive brand, found 68% of the respondents said they trust dealerships more than private sellers, while just 4.6% felt the […] [Read More]

Penske Automotive Group is continuing its expansion in Australia. The global automotive giant announced it’s adding another location Down Under with an agreement to acquire Porsche Centre Melbourne from Porsche Retail Group Australia Pty Ltd. The new addition will be Penske’s third Porsche store in Melbourne and its 25th worldwide. In a news release, Penske […] [Read More]

Where a Megasite arises, Carvana’s same-day vehicle delivery service is soon to follow. The online used-car retailer introduced Houston as the latest market in which select customers can take delivery of a vehicle purchase as soon as the same day they place an order on Carvana.com. Not coincidentally, it’s also the location of a Carvana […] [Read More]

The CAR Group is fixin’ to saddle up and ride into Dallas again. The dealership group, which operates 20 locations under the Norm Reeves brand in California, Florida and Texas, has acquired Cowboy Toyota in Dallas, according to Kerrigan Advisors, which worked with the seller in the transaction. The dealership, which has been owned by […] [Read More]

In addition to its current chair imploring franchise dealers to continue participating in hurricane relief efforts, the National Automobile Dealers Association announced its next round of leadership succession. Castriota Chevrolet owner Tom Castriota, who is currently NADA’s vice chairman, will succeed Gilchrist Chevrolet Buick GMC president Gary Gilchrist as 2025 NADA chairman. Elected 2025 vice […] [Read More]