Dealer outlook cools on acquisitions
Nearly half of dealers plan to buy one or more dealerships in the next 12 months, while only 2 percent expect to sell in that time frame, according to a survey by Kerrigan Advisors......»»
Mich. Appeals Court backs Ford dealer"s request to arbitrate lease pricing case
The Michigan Court of Appeals upheld a lower court decision declaring a customer's allegations of lease pricing deception at a Westland car dealership needed to be resolved through arbitration. Appellate Judges Mark Cavanagh, Kathleen Jansen and Alli.....»»
Ohio Sen. Sherrod Brown attacks Bernie Moreno"s history as car dealer
Dealers who support Bernie Moreno's campaign for Senate say his opponent's ad unfairly maligns their businesses and employees......»»
Ford tells dealers to halt EV investments while it alters certification program
The automaker plans to work with its dealer council in the coming weeks to make changes in response to feedback from a series of nationwide dealer meetings......»»
Hybrids replace EVs on industry"s center stage
Consumer preferences shift to hybrids and plug-in hybrids as interest in fully electric vehicles cools......»»
Mixup of drinking and irrigation water sparks dangerous outbreak in children
Of 13 children sickened, 7 hospitalized and 2 had life-threatening complications. Enlarge / A child cools off under a water sprinkler. (credit: Getty | JASON SOUTH) In 1989, a city in Utah upgraded its drinking water sy.....»»
Toyota dealer adds $2 million satellite for new battery plant workers
Toyota of Greensboro will open a new $2 million delivery and service center exclusively for 5,100 new employees of automaker's new N.C. battery plant......»»
Group 1 Automotive"s Q1 acquisitions cost almost $700 million
The auto retailer also sold the Mike Smith Auto Complex in Beaumont, Texas, to Doggett Automotive Group in the first quarter......»»
First Black female Lexus dealer Ellenae Henry-Fairhurst dies
Henry-Fairhurst made her landmark purchase of an Infiniti dealership in 1999......»»
Accounting change drives down Cars Commerce Q1 net income
Cars Commerce's 2023 acquisition of D2C Media helped promote revenue gains, and price increases helped boost average revenue per dealer......»»
Soft EV demand bedevils public dealer groups in Q1
All six public retailers experienced challenges with electric vehicles, but also saw opportunities......»»
Minority dealer Julie Herrera expands IDEA Auto Group
City Limits Nissan is the first dealership Julie Herrera bought without the backing of her investor partner Cavender Auto Family of San Antonio......»»
Tomorrow’s AAPL Q2 earnings likely to be $5B down
AAPL Q2 earnings are set to be announced tomorrow, and the company had already warned that we should expect a year-on-year revenue drop of around $5B. Analysts expect the same thing, and the outlook for Q3 isn’t expected to be any better, so in.....»»
6 public auto dealership groups challenged by inflation, lower profit per vehicle
Asbury, AutoNation, Group 1, Lithia, Penske and Sonic continue turning to acquisitions or growing service and parts operations for new revenue sources......»»
Lithia: Driveway Finance has $2M loss in Q1, still on track for profitability in 2024
Lithia Q1 2024 earnings: Car dealer Lithia Motors Inc.'s developing captive finance company Driveway Finance Corp. lost $2 million during the first quarter, compared with a $21 million loss a year earlier......»»
Quality woes hurt Ford earnings as GM outlook improves
Ford CEO Jim Farley said the company avoided about 12 recalls on its flagship F-150 by performing extra quality checks, but one Wall Street firm estimates the delay cost $3 billion in revenue......»»
CarNow eyes expansion, possible acquisitions after debt financing
CarNow, maker of digital retailing platforms for dealerships, plans to use $40 million in new debt financing to accelerate product development and pursue further market expansion......»»
Mercedes warms to ICE vehicles as EV growth cools in the U.S.
Mercedes expects to sell about 50,000 more coupes, sedans, crossovers and SUVs in the U.S. in 2024 compared with last year......»»
Group 1 net income falls nearly 7% in Q1 as company ramps up acquisitions
Group 1's net income fell, while revenue and new- and used-vehicle sales grew......»»
Group 1 net income falls nearly 7% in Q1 as it ramps up acquisitions
Group 1's net income fell, while revenue and new- and used-vehicle sales grew......»»
2 former dealership employees who started new marketing firm settle lawsuit
A Massachusetts dealership has settled a lawsuit that accused two former employees of breach of loyalty, misappropriation of trade secrets and other claims for setting up a competing dealer-to-dealer digital marketing agency......»»