Earlier today, Sonic Automotive announced pricing of its private offering of $200 million in aggregate principal amount of 7.00 percent senior subordinated notes due in 2022 to qualified institutional buyers. Officials explained the notes were priced at 99.110 percent of the principal amount thereof, resulting in a yield to maturity of 7.125 percent in an […] [Read More]

Dealers hoping to shore up their supply of luxury used vehicles are likely to be waiting quite a bit longer. In a recent special report, the National Automobile Dealers Association said the next increase in used luxury supply isn’t expected to happen until 2014. In fact, used-luxury supply is projected to decline 13 percent this […] [Read More]

With many dealers ramping up their online presence and searching for ways to market their store successfully on the Web, it is arguably becoming more and more importantto maintain consistency across advertising mediums, as well as preserving a store’s reputation on the Internet.  In light of this growing issue, Prime Response — a division of […] [Read More]

With more consumers turning to mobile devices for vehicle shopping purposes every day, many dealers are choosing to take advantage of this marketing space. That said, AutoMotion — a developer of mobile apps for dealers — revealed today improvements to its platform technology, which the company contends will increase flexibility  for clients. Commenting on the […] [Read More]

In the midst of a busy week, Black Book’s editorial team picked up on an unexpected trend when discussing the wholesale market with a commercial account representative. Managing editor Ricky Beggs indicated that he and the rest of the Black Book team continue to see an increasing level of no sales, overall. “But not every […] [Read More]

Under a partnership between EasyCare and Carfax announced Monday, Carfax Vehicle History Reports will automatically be included in the CoVideo video email tool from EasyCare. This means that dealers who use EasyCare CoVideo and Carfax can immediately pass this information along to customers on their websites or through personalized videos sent in response to Internet […] [Read More]

Though not expected to show as dramatic an improvement as the new-vehicle market, used-car sales are projected to wrap up the month ahead more than 6 percent of June 2011, according to TrueCar.com. The firm is predicting 4.77 million used sales for June, which would be a 6.3-percent improvement from a year ago and a […] [Read More]

A North Carolina dealer is ready to take the reigns as president of the National Independent Automobile Dealers Association. Officially assuming the role during NIADA’s 66th Annual Convention and Expo at Caesars Palace in Las Vegas was Chris Martin, president of E-Z Auto in Fayetteville, N.C. Martin, the son of champion drag racer Buddy Martin […] [Read More]

As the automotive industry is on the rebound after years of struggle following the 2008 recession, which two brands have made the best comebacks? According to the results of the 2012 Harris Poll EquiTrend study, both Mercedes-Benz and Honda “reign supreme in successfully harnessing their equity and leading their industries as Brands of the Year.” […] [Read More]

Most dealers and shoppers are familiar with the vehicle showroom — pristine, well-lit areas to show off nameplate’s newest models — but normally, these elements of the dealership stay put. That said, what if the showroom took off on wheels? Chrysler Group has run with this idea and is hitting the road with its 2012 […] [Read More]