Dealerships acquired in Calif., Ga.
Three dealership groups acquired stores in California in separate deals, while another group added a second Stellantis store in Georgia......»»
Morgan Automotive Group buys 4 dealerships in Florida, including its first in Miami
Morgan Automotive followed its acquisitive 2022 by adding 4 dealerships so far this year and has entered the Miami market......»»
Credit Acceptance net income drops 54% in Q1, but loan volume up
Credit Acceptance Corp. took on 89,821 auto loans from car dealerships during the first quarter of 2023, up 23 percent from a year earlier......»»
Pioneering Calif. dealer Bert Boeckmann dies at 92
Boeckmann joined Galpin Ford in 1953 as a salesman and worked his way up to ownership......»»
Group 1 CEO Kenningham views some car dealerships as overpriced
Group 1 Automotive Inc. is calling out some dealership sellers who it believes are pricing their businesses unrealistically high. "There is a certain portion of sellers that have unrealistic expectations," Group 1 Automotive CEO Daryl Kenningham s.....»»
Stellantis, GM, Mazda and Ford dealerships sell across 4 states
Domestic and import dealerships in Massachusetts, Virginia, Wisconsin and Indiana traded hands in three first-quarter deals and a third-quarter 2022 transaction......»»
Goode Motor goes big with Alaska exploration
After its March purchase of two Juneau, Alaska, stores representing eight brands, Goode Motor Auto Group owns all the new-vehicle dealerships in the Alaska capital, according to CEO Matt Cook......»»
Sonic Automotive Q1 net income drops 51%
Sales at Sonic Automotive's EchoPark brand rose 34 percent in the first quarter, but the auto retailer saw lower gross profits per new and used retail vehicles, as well as lower sales volume from its franchised dealerships......»»
Bosch to buy Calif. microchip maker TSI Semiconductors, invest $1.5B
Bosch plans to acquire a California microchip maker and invest around $1.5 billion in it to help meet growing demand for silicon carbide chips in electric vehicles......»»
Twitter restricts its search to registered users while Musk suggests Fleets are coming back
There’s a lot going on at Twitter since Elon Musk acquired the social network last year. After removing blue checkmarks and limiting the reach of accounts that don’t pay for Twitter Blue, the platform no longer lets users use its search without.....»»
New study explores human cultural learning and evolution
A George Washington University study offers new insights into why human cultures become more complex over time. The study finds that people combine and generalize socially acquired knowledge over time, resulting in new and more complex knowledge. The.....»»
Lithia exits Alabama with sale of Subaru store; sells 2 other dealerships in Q3 deals
Lithia Motors made its first divestiture of 2023 with the sale of a Subaru store in Alabama, which was the auto retail giant's entry into the southeastern state. The group also sold two other dealerships last year in third-quarter transactions......»»
Honda’s electric go-kart shows off its easily swappable battery system
Honda wants to replace small gasoline engines with electric motors and batteries. Enlarge / The kart places battery packs on either side of the driver. (credit: Abigail Bassett) LONG BEACH, Calif.—Honda has its hands.....»»
This go-kart demos an electric alternative to gas ATVs and generators
Honda wants to replace small gasoline engines with electric motors and batteries. Enlarge / The kart places battery packs on either side of the driver. (credit: Abigail Bassett) LONG BEACH, Calif.—Honda has its hands.....»»
Meta"s revised auto listing restrictions have mixed effect on dealers
Meta as of Jan. 30 stopped letting dealerships create used-vehicle listings using a Facebook business page......»»
Asbury net income, revenue down in Q1 after stores dropped in 2022
Asbury sold 16 dealerships in 2022: Four in the first quarter, three in the second, and nine in the fourth......»»
India roundup: Apple embarks on strategic diversification into India
Apple CEO inaugurated retail stores in India, eyeing India's huge and rapidly-increasing market. Foxconn acquired land in Telangana to expand its Indian investments......»»
Dealerships with strong used focus land on top
Dealership groups on Automotive News' annual ranking focused strongly on used-vehicle operations in 2022, seeking trade-ins and buying directly from consumers to pad used inventories and sustain sales......»»
Tesla wins bellwether Calif. trial over Autopilot car crash
California jury finds that Tesla's Autopilot did not fail in what appeared to be the first trial related to a crash involving partially automated driving software......»»
Kia, Nissan, Ford, Stellantis and GM dealerships sell across 5 states
A West Coast auto retailer bought and sold dealerships, a dealer acquired his first Ford store, a group grew to three stores and two brothers expanded their holdings, all in transactions that closed in the second and fourth quarters of 2022 and the f.....»»
Calif., 17 other states seek recall of Hyundai, Kia vehicles over theft
U.S. theft claims were nearly twice as common for Hyundai and Kia vehicles compared with all other automakers among 2015-19 models, IIHS data shows......»»