CarMax and its leadership have developed a modernized used-car retailing experience in recent years, with a strong, fundamentally sound foundation — it is the nation’s largest used-car retail business, one that’s trusted by consumers and provides a “simple, transparent and personalized” buying and selling process with “unmatched physical and digital infrastructure.” For the last nine […] [Read More]

Sonic Automotive generated a record quarter for franchise dealer revenues of $3.4 billion, representing a 17% year-over-year increase and an 11% rise on a same-store basis. Fixed operations was a bright spot, helping to drive this success in the publicly traded dealer group’s latest quarterly report, with same-store gross profit up 8%, while same-store customer […] [Read More]

Sonic Automotive’s third-quarter earnings report revealed its strongest quarter for franchised dealer revenues in the history of the dealer group, but the picture painted by results for its used-only brand — EchoPark Automotive —wasn’t quite as rosy, mainly due to expected pressure on vehicle gross margins and unexpected off-rental supply headwinds. The dealer group’s used-only […] [Read More]

When it comes to customer service, CarMax is No. 1. The national used-car retailer was selected by Newsweek as the nation’s top online automotive marketplace in the magazine’s America’s Best Customer Service 2026 list. CarMax won the honor with a score of 87.09, ahead of Autotrader (85.84), Cars.com (84.85), Carvana (84.35) and CarGurus (83.55). The […] [Read More]

Carvana is now the official auto retailer of Stanford athletics, thanks to a multi-year partnership with Stanford University’s athletic department. In a news release, the online used-car retailer said it will bring its “customer-first, tech-driven approach to the Cardinal campus, celebrating Stanford’s legacy of athletic tradition, academic excellence and engaged community.” Stanford claims the title […] [Read More]

Asbury Automotive Group had a strong third quarter, but used vehicles were a weak spot. That’s the area the group sees the most room for improvement, said an executive on the earnings call. “We see our performance in used vehicles as our biggest opportunity to improve execution,” Asbury vice president of operations Paul Whatley said. […] [Read More]

Walser Automotive Group has added a new brand — along with a new location in its home market. The dealership group, based in Minneapolis suburb Bloomington, Minn., has opened its first Kia store, Walser Kia, in nearby Minnetonka. The new franchise is led by general manager Campbell Walser, son of company partner Paul Walser and […] [Read More]

Golling Automotive Group added a new brand to its Detroit-area dealerships with the acquisition of Mark Chevrolet in Wayne, Mich., from Charles Cabana, a deal announced by Performance Brokerage Services, which represented the buyer. Performance Brokerage Services’ Mark Shackelford Jr. said Golling, which now operates nine franchise locations and a used-car store in the Detroit […] [Read More]

Used-car retailer Carvana reported very strong third-quarter results, driven in part by growing economies of scale, said executives on the earnings call. Though the stock price plunged after the call on concerns about subprime loan performance, Carvana's chief financial officer said its loan performance was strong. “We're getting better as we get bigger, aided by […] [Read More]

Many in the auto industry believe that lower-priced vehicles, or what Lithia calls “Value Auto” vehicles, are driven off of “low-quality credit.” However, “it’s the exact inverse of what you think,” said Bryan DeBoer, president and CEO of Lithia Motors and Driveway. Buyers only finance lower-priced vehicles about half of the time, he said. A […] [Read More]