Group 1 Automotive has expanded in its hometown. The Houston-based retailer said Thursday it acquired Beck & Masten Kia, a move that broadens Group 1’s footprint in that market to 15 brands and 18 dealerships. The store is Group 1’s first Kia dealership in Houston. Group 1 anticipates Beck & Masten Kia to generate annual […] [Read More]

Don’t let the slower start to the year fool you into thinking dealership buy-sell will grow soft. The number of dealerships acquired in the first quarter (approximately 82) fell 31% year-over-year, according to the latest Haig Report from Haig Partners, but the firm is anticipating an increase in buy-sell activity the rest of the year. […] [Read More]

On Thursday, Parks Automotive Group welcomed Franchise Equity Partners (FEP) as a minority partner following a capital contribution of approximately $55 million in connection with the group’s recent purchase of the Lake Norman and Gastonia Chrysler-Dodge-Jeep-RAM dealerships in North Carolina earlier this year. Led by president and CEO Adam Parks, the group now has 21 […] [Read More]

Next up on our series of podcasts from the Auto Intel Summit and NRC Spring Summit is a panel discussion featuring some of the leading auto dealers in North Carolina. The session is moderated by NCADA president Robert Glaser and features leaders from Crossroads Automotive Group, John Hiester Automotive Group and Hubert Vester Auto Group, […] [Read More]

They might be some of the younger personnel at their dealerships, but they’ve already shown their ability to thrive in a variety of roles and responsibilities. Auto Remarketing’s “Dealers Under 40,” presented by Automotive Training Network (ATN), hail from a variety of operations. Some honorees are already store general managers or leading executives for dealer […] [Read More]

Both AAA and TransUnion predicted notable travel activity happening on the roads this Memorial Day weekend and beyond. However, a recent analysis by Cox Automotive of Xtime metrics showed the car owners might not have done a lot of vehicle maintenance before beginning their journeys. Cox Automotive indicated that service activity and revenue at franchised […] [Read More]

Champions will be crowned soon in professional basketball and hockey. And this summer, champions among professional and aspiring automotive technicians will be decided, too. The U.S. Auto Tech National Championship (USATNC) is back. Garage Gurus, the training and support platform from Tenneco’s DRiV group, and the University of Northwestern Ohio (UNOH) are once again joining […] [Read More]

The Ed Morse Automotive Group continues to expand in Illinois, announcing Monday it has purchased its third store in Henry County in recent weeks. The group bought Motor City Chevrolet GMC in Kewanee, Ill., from Eric Ellenberger in a deal brokered by Performance Brokerage Services. It will be renamed Ed Morse Chevrolet GMC. Ed Morse […] [Read More]

Chris Holzshu says vehicle affordability continues to be a focus for consumers as interest rates for new and used vehicles have increased three percentage points since last year. Factory incentives “have yet to match relative demand,” said Holzshu, who is executive vice president and chief operating officer for Lithia & Driveway. “However ... early recovery in new-vehicle inventory and most domestic and luxury nameplates, modest increase in incentives, strong used vehicle trade-in values [and] a decrease in the average amount financed, leave consumers’ monthly payments relatively flat year-over-year,” Holzshu said. Holzshu made his comments during Lithia’s first quarter 2023 earnings call that took place on April 19. Although the company reported the highest first-quarter revenue in company history ... [Read More]

Two of the large publicly traded dealer groups made moves this week with one modifying its store portfolio and the other highlighting new leadership. Beginning first with Asbury Automotive Group, the Presidio Group said it exclusively advised the company on the sale of McDavid Acura of Austin to the Umansky Automotive Group. According to a […] [Read More]