Penske Automotive Group delivered a strong fourth quarter and “another outstanding year of profitability,” said the company’s CEO Roger Penske during the company’s earnings call on Feb. 13. Penske’s used-vehicle business played a role in that. However, that role was a mixed one. Gross profit per used vehicle retailed increased $349 quarter over quarter. But used units retailed ... [Read More]

Last week, AutoPayPlus by US Equity Advantage announced the hiring of Patricia Rodak as its controller to oversee the company’s accounting functions, financial reporting and compliance efforts. Rodak brings more than 25 years of financial leadership experience, with expertise in financial planning, treasury management, audit coordination and process optimization. Prior to joining AutoPayPlus, Rodak held […] [Read More]

It’s now the last week of February, and you might be struggling to hit your financing and retailing targets for the month. Data and assessments from sources such as Cox Automotive, the IRS and the University of Michigan could explain why this month has been challenging. Scott Vanner is a senior analyst of economic and […] [Read More]

A retiring dealer has sold his dealership to a former employee. Tony T Automotive Group, led by president Tony Thomas has acquired Gulfgate Chrysler Dodge Jeep RAM in Houston from James Davis, according to Haig Partners, which represented the seller in the transaction. Thomas served in several management positions, including general manager, at Gulfgate CDJR […] [Read More]

In our industry, the hardest thing to do is to remember what it’s like to be a consumer. Remembering what it feels like buying a car. We are in the business — and so the American dream becomes just a stock number and a stat to many of us. Buying a car is supposed to […] [Read More]

In March, Auto Remarketing releases its annual “Best CPO Dealers” issue, presented by Cars Commerce, which provides a brand-by-brand ranking of the top dealers for certified pre-owned vehicle sales at 14 automakers. For the remainder of February, we will be previewing this issue by sharing the individual automakers’ respective top 10 lists. All rankings are provided by […] [Read More]

In March, Auto Remarketing releases its annual “Best CPO Dealers” issue, presented by Cars Commerce, which provides a brand-by-brand ranking of the top dealers for certified pre-owned vehicle sales at 14 automakers. For the remainder of February, we will be previewing this issue by sharing the individual automakers’ respective top 10 lists. All rankings are provided by […] [Read More]

RB Global — the company which includes IAA, Ritchie Bros. Auctioneers, DDI Technology, Xcira and other entities — released fourth quarter and full-year 2024 results as its headliner event, the Orlando mega-auction, was underway. The results impressed analysts. “Q4 financial results from RB Global were ... [Read More]

Carvana redeemed itself in 2024, emerging as one of the most profitable and fastest growing publicly listed auto retailers. In the company's latest earnings call, CEO Ernie Garcia said 2024 “will always be a defining year in the Carvana story.” For the full year, Carvana sold 416,348 retail units ... [Read More]

While perhaps not a clip that will set records, TransUnion is expecting some growth in auto financing this year. Previously held back by stubbornly high inflation, rising interest rates and elevated home and vehicle prices, TransUnion said this week that new auto, mortgage, and unsecured personal loans are expected to see gains in 2025. A […] [Read More]