Volkswagen of America broke ground Wednesday for what is set to be a new 30,000-square-foot dealership in downtown Walnut Creek, Calif. The facility will be built to accommodate the automaker’s growing sales and customer base and will provide customers with a list of increased and enhanced amenities. "Two of Volkswagen’s major objectives are excellent customer […] [Read More]

Concurring with other wholesale market assessments, ADESA Analytical Services discovered April’s wholesale used-vehicle prices averaged $10,551 — a reading flat with March and only 0.6 percent lower than last April’s record level. As dealers have readily seen, ADESA also noticed prices were strongest for compact cars (up 7.2 percent month-over-month and 14.4 percent year-over-year) and […] [Read More]

Penske Automotive Group announced its new executive vice president and chief financial officer on Monday to replace Robert O’Shaughnessy. The company appointed David Jones to the position. Jones — who had been serving as the president and CFO within Penske’s European operations — stepped into the role immediately. As for O’Shaughnessy, this executive stepped down to take […] [Read More]

General Motors is using its profitable momentum to put more workers back on the company payroll. Chairman and chief executive officer Dan Akerson presided over Tuesday’s announcement that automaker will invest about $2 billion in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities in eight states. “We are […] [Read More]

As the certified pre-owned market continues to pick up steam, Hyundai Canada recently rolled out a newly formed CPO program and has enlisted the help of CarProof to provide vehicle history reports as well as other services. Eligible vehicles must undergo a 120-point inspection, and each unit must include a CarProof vehicle history report.  [Read More]

The sequential gains in the wholesale market rolled on during April, according to the latest analysis from RVI Group. Specifically, analysts spotted a 2.4-percent month-over-month gain (seasonally adjusted) and a 16.1-percent year-over-year hike in the month’s wholesale prices. In light of fuel-cost hikes — national gas prices are now close to $4 a gallon — […] [Read More]

A year-over-year total revenue gain of more than 30 percent helped Autobytel shave its first-quarter net loss down significantly compared to the losses it sustained in earlier quarters. Company officials calculated their first-quarter net loss amounted to $571,000 or 1 cent per share, which was sharply reduced from a net loss of $3.3 million or […] [Read More]

The International Automotive Remarketers Alliance announced Tuesday that Mike Albert Fleet Solutions has become a member. Cincinnati-based Mike Albert Fleet Solutions manages fleets in the U.S., Canada and Puerto Rico, as well as providing fleet optimization solutions for dealers, including strategies to build brand awareness and increase productivity. [Read More]

Management at Dollar Thrifty Automotive Group was tight-lipped Monday regarding the latest offer from Hertz Global Holdings to purchase the company. Hertz laid out an offer Monday morning for the country’s fourth-largest rental company that would pay Dollar Thrifty shareholders $72 per share. Comprising that $72 per share amount would be $57.60 in cash and […] [Read More]

ADESA continued to bolster its dealer consignment initiatives as the auction company tapped two veterans Monday to be directors of strategic sales and services within its dealer services division. Reporting directly to Tim Zierden, ADESA vice president of dealer sales and services, are  Doug Hadden and Mike Waterman. “The addition of Doug and Mike to […] [Read More]