Fueled by record used-vehicle sales, Sonic Automotive posted a robust first-quarter net-income jump. Company executives reported Tuesday that their net income came in at $14.9 million, up from $4.1 million generated in the first quarter of last year. As a result, Sonic determined first-quarter earnings from continuing operations were 27 cents per diluted share compared […] [Read More]

Close to the turn of the century, Lexus introduced a unique idea — a manufacturer-sponsored certified program that features the same inspection standards no matter the age or model.   The automaker’s management was so confident in the quality of the product, the team was also the first to launch subsidized APRs as well as […] [Read More]

Along with highlighting the company’s double-digit first-quarter net income gains, AutoNation chairman and chief executive officer Mike Jackson offered another assessment of  the Japanese earthquake’s impact on the full-year industry outlook. “While the underlying recovery in consumer demand for autos remains on track in the United States, due to Japanese supply constraints throughout the remainder […] [Read More]

Vehicle registrations by African-Americans climbed by more than 11 percent in 2010 and one brand, in particular, seems to be benefiting, according to Polk. The automaker most popular among African-Americans in 2010 was Toyota. Specifically, Polk discovered that there were 641,090 new-vehicle registrations within the African-American demographic last year. This marks an 11.5-percent gain from the […] [Read More]

Group 1 Automotive enjoyed more than a 48-percent increase in its adjusted net income during the first quarter, and officials seemed relatively optimistic about the dealer group’s ability to weather potentially significant disruptions in the supply chain stemming from the Japanese disaster’s aftermath. Announcing its first-quarter earnings on Tuesday, Group 1 said its adjusted net […] [Read More]

To drive service dollars, Hyundai’s Chicago dealers recently held a weekend-long Groupon promotion where shoppers could receive an oil change, inspection and tire rotation for $29. Customers could take advantage of the deal at 10 different stores in the Chicago area. Hyundai revealed that 1,323 shoppers utilized the Groupon, meaning the average number of new-service […] [Read More]

Chevrolet announced Tuesday it will celebrate National Military Appreciation Month by expanding the GM Military Discount to military spouses and retirees. During the month of May, the GM Military Discount program will be extended to spouses of active and reserve members, as well as retirees of the U.S. Air Force, Army, Navy, Marines, National Guard […] [Read More]

Apparently, Toyota and Honda are getting a better handle on where their suppliers stand in quake-jolted Japan. Both companies are now reporting that normal worldwide production is unlikely to resume until almost the end of this year. After an in-depth analysis of its suppliers affected by the earthquake and tsunami, Toyota announced global production will begin to ramp up as soon […] [Read More]

As the automaker sets its sights on ramping up worldwide sales to catch Toyota, Volkswagen of America looked to Subaru for its new chief product and marketing officer for the Volkswagen brand. Tapped for the job was Timothy Mahoney, who will report to Jonathan Browning, president and chief executive officer of Volkswagen Group of America and […] [Read More]

Prices in the wholesale market continued to move upward this past week, though the pace of increase was not as drastic as it had been in weeks before, according to Black Book managing editor Ricky Beggs. Specifically, 58 percent of value adjustments Black Book made last week were upward changes. While this is certainly a […] [Read More]