Penske is coming off of a record breaking year, success which in part is due to its recent acquisitions. For retail automotive, specifically, the company acquired $225 million in annualized revenues last year, including the purchase of BMW of Greenwich, Conn., with revenue of $200 million annually. And so far in 2015, the company has […] [Read More]

Canadian new auto sales – which totaled roughly 1.85 million units in 2014 – eclipsed the previous year by 6 percent, according to the Scotiabank Global Auto Report released this month. Unlike 2013, however, which had overall sales growth in all regions, the significant growth for last year was driven out of the central regions […] [Read More]

Canadian Black Book released the results of its annual “Best Retained Value” Awards this evening, in time for the kickoff of the Canadian International Autoshow in Toronto on Friday. This year’s awards took a look at 2011 model-year vehicles, with Toyota taking home the most awards this time around. And not surprisingly, the Jeep Wrangler […] [Read More]

As we head forward into a new year, Ford Motor Co. of Canada is taking the time to honor its top-performing auction partners. The automaker has recently announced the recipients of the 2014 Auction Quality Award and the 2014 Reconditioning Excellence Award. The Auction Quality program is designed to assess and evaluate the service provided […] [Read More]

Online car-shopping resource CarLingo announced Wednesday it now provides downloadable eBooks on its website to assist consumers with charting the waters during the car-buying journey. According to the company, customers invest an average of 15 hours over a three-month shopping process to research their potential purchase. Aimed at shortening this time, CarLingo now provides its […] [Read More]

Rather than incurring more legal costs than what already has mounted during the past year, a buy-here, pay-here operator in business for nearly two decades in one of North Carolina’s largest markets chose to resolve claims asserted by the United States Attorney's Office, Department of Justice and North Carolina Attorney General's Office by entering into […] [Read More]

The U.S. News & World Report announced Wednesday its annual “2015 Best Cars for the Money” award winners, listing the popular consumer-facing publisher’s advice on the “best” vehicles in each vehicle category. The manufacturer with the most winners was the American Honda Motor Company, featuring three winners from each of its Honda and Acura brands. […] [Read More]

The fourth quarter of 2014 wrapped up what was Penske Automotive Group’s most profitable year ever. The company announced Wednesday, revenue in 2014 increased by 18.9 percent to a total of $17.2 billion, $4.4 billion of which was made in Q4.  And in 2014, Penske retailed a grand total of 398,356 new and used vehicles. […] [Read More]

The Dealer’s Auto Auction Group announced recently it has named Robin Treadway as the group’s managing director of auction operations. David Andrews, the chief executive officer of City Enterprises LLC, DAA’s parent company, made the announcement. “Robin’s expert knowledge of the auction industry covers every segment of our business,” Andrews said. “We are blessed to […] [Read More]

As the company ramps up its prime financing program, General Motors Financial still is keeping an eye on its subprime business as a Wall Street analyst touched on recent inquiries from the U.S. Department of Justice and the Securities and Exchange Commission. GM Financial rolled out its prime loan product to all GM dealers on […] [Read More]