The National Independent Automobile Dealers Association announced Thursday that ReCARnation and its owner, Marc Powell, have been recognized for business excellence with the Jack and Donna Rust Award for Excellence in Ethical Business Practice. The Albuquerque, N.M.-based dealer, who was also recognized as the NIADA National Dealer of the Year, was presented the award at […] [Read More]

Women buyers now account for more than half of all car sales, and they influence more than 80 percent of car purchases.  Yet one out of three women feel apprehensive or overwhelmed when they shop and buy a car.  Less than 40 percent of women car buyers feel confident about the process.  A full 75 […] [Read More]

Given the demand they’re fetching and the resulting short supply, perhaps it’s no surprise that the auction value of sports cars increased more than any other segment in April, according to Kelley Blue Book. Between March 27 and April 24, the KBB Auction Value of model-year 2012 to 2014 sports cars jumped 2.6 percent, the […] [Read More]

The same economic drivers helping to lift the new-car market are also benefitting the used-car market, said NADA chief economist Steven Szakaly, whose analysis points out three key metrics pushing demand. “Just like the new-vehicle market, we continue to see healthy demand for used cars,” Szakaly said in an analysis released by the National Automobile Dealers […] [Read More]

A recent study conducted by DealerSocket suggests that viewing your fixed operations as a percentage of your dealership’s total revenue may be the wrong approach. In fact, the study shows that even though the average dealership’s fixed ops only accounts for 12 percent of the store’s total revenue, when you look at a dealership’s net profits, their […] [Read More]

Reviews have literally changed the way consumers find your business, whether you’re a car dealership or a dentist. According to a survey by Dimensional Research, a staggering 90 percent of respondents said that a positive review influenced their purchase decision. More challenging for dealerships is the notion that the sheer number of reviews plays significantly in the […] [Read More]

Based on projections from industry analysts released Monday, expect used-car sales for April to finish north of 3 million units. Edmunds.com is calling for approximately 3.2 million used-car sales for the month. Although this would be down from the 3.5 million used sales in March, the resulting used SAAR for April (36.7 million) would edge […] [Read More]

With Earth Day being commemorated on Wednesday, both Edmunds.com and Experian Automotive uncovered a wide array of trends associated with hybrid and electric vehicles — with much of the analysis showing the lack of appeal for these units as well as diminishing financing opportunities if the consumer even purchased one of these models. Edmunds determined […] [Read More]

Asbury Automotive Group’s management expects the retailer’s Q auto program to show run rate profitability by the end of the year and said the standalone used-car outlet program is actually ahead of schedule on the financial side. In his early remarks during Tuesday’s first quarter earnings conference call, Asbury senior vice president and chief financial […] [Read More]

With plenty of liquidity, the ability to generate cash and ideal financing conditions pushing buyers to make moves, KeyBanc Capital Markets says merger and acquisition activity in the dealership world “remains highly active.” So expect dealership acquisitions to continue, the company said, which along with robust used-car and parts and service sales should lead to […] [Read More]