AutoNation posted a 17-percent year-over-year jump in February new-vehicle sales as the group’s franchised stores turned 19,994 units. Breaking down that sales total for AutoNation’s operating segments, the figures were: —6,179 vehicles for domestic, up 18 percent versus February 2011. —10,601 for import, up 16 percent versus February 2011. —3,214 for premium luxury, up 20 […] [Read More]

I often find dealers focus on digital marketing to drive traffic to their websites, spending a lot of money trying different things, not knowing what is and isn’t working. However, in many cases, the focus on website traffic causes dealers to miss the more important metric, and that is their site’s conversion rate. [Read More]

Even with the prospect of rising gas prices looming before dealers, the U.S. auto industry seems to be on the rise, posting a double-digit overall sales increase this past month. The American International Automobile Dealers Association attributed the 15.7-percent sales increase to “pent-up demand in the auto market, a strengthening economy and new products from […] [Read More]

O’Brien Auto Group, one of the largest dealers in the Pacific Northwest, announced late last week it purchased Bob Bridge Toyota Scion of Renton — a nine-time winner of Toyota Motor Sales USA’s President Award for outstanding sales and service in the Seattle market. While financial details were not made public, O’Brien confirmed the deal […] [Read More]

RICHMOND, Va. — Buy-here, pay-here dealership group J.D. Byrider recently revealed credit-challenged residents of Virginia’s capital now have another option for purchasing used cars. The company announced a new Richmond rooftop opened on the first of the month, located at 7400 Midlothian Turnpike. The 10,000 square-foot store — the company’s fifth in Virginia — offers […] [Read More]

IRVING, Texas — Late last week, Exeter Finance Corp. announced the completion of its first rated term securitization, issuing $200 million in notes backed by subprime auto installment receivables. The company indicated the notes were purchased by qualified institutional buyers and accredited investors in a private placement offering pursuant to Rule 144A of the Securities […] [Read More]

ATLANTA — New U.S. consumer credit data from a joint product of Equifax and Moody's Analytics projects a rebounding consumer environment, along with recovering home and auto markets this year. As numbers reflect pre-recession totals, Equifax and Moody's predicted through CreditForecast.com on Monday that consumers should anticipate steady economic growth in major sectors. Among lending […] [Read More]

CARMEL, Ind. — KAR Auction Services once again cheered the financial performance of two subsidiaries — Insurance Auto Auctions and Automotive Finance Corp. Chief executive officer Jim Hallett declared both operations had "outstanding" years as they both posted rises in profit and revenue of at least 15 percent. Looking first at Insurance Auto Auctions, its […] [Read More]

Chrysler Group rolled out an off-brand certified pre-owned offering this morning and in anticipation of today’s launch, the automaker talked with Auto Remarketing late last week in an exclusive about what Diversified Certified can offer Chrysler’s dealer body. Basically, the program gives Chrysler dealers a way to certify used cars on their lot from other […] [Read More]

Late Thursday, General Motors and Wells Fargo & Co. created a long-term partnership to offer competitive financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in the contiguous states comprising GM’s U.S. West marketing region. Officials explained Wells Fargo will offer GM dealers a complete suite of products alongside the core offering of […] [Read More]