Auto Remarketing continues its reporting on the second quarter used-vehicle results of the six publicly traded dealer groups. Next up is Penske Automotive Group, where a take-private bid has made headlines in recent days. But as far as the Q2 numbers are concerned, here’s how the used-car operations of the retailer fared. Penske moved 59,070 […] [Read More]

Lithia & Driveway posted its best-ever second quarter revenues, but the highlight in its pre-owned operations was a sharp quarter-to-quarter increase in used-car profits per unit. Releasing second-quarter results Wednesday, Lithia said it sold 106,114 used retail units in the second quarter, down 2.7% year-over-year. So far this year, it has moved 215,265 used retail […] [Read More]

The publicly traded dealer groups have started reporting quarterly earnings and Auto Remarketing will be sharing the used-car results of each retailer. That begins with Asbury Automotive Group, which reported second-quarter results Tuesday, including a double-digit spike in used-vehicle retail gross profits per unit. Asbury generated $1.094 billion in retail used-vehicle revenue during the quarter, […] [Read More]

Three dealerships are changing hands in the Southwest. Bender Chevrolet GMC, Bender Chrysler Dodge Jeep Ram and Bender Honda Nissan in Clovis, N.M., have been sold to Frank Pena and Brad Bender, according to a news release from Pinnacle Mergers & Acquisitions, which facilitated the sale. Pena will be dealer principal and Bender has joined […] [Read More]

In Catalyst IQ’s State of the Industry report for the second quarter, a subsection titled “Actionable Guidance for Automotive Retail” lists the following used-car implications for automakers. “A healthy used market supports long-term brand value by strengthening residual values and lease economics. Monitoring and supporting used supply will remain essential when planning production levels, incentive […] [Read More]

ZT Automotive has added ultra-luxury to its collection. The Badar Family Office, which owns the dealer group, said Tuesday it has acquired McLaren Charlotte and Rolls-Royce Cars Charlotte in North Carolina. These stores will become part of the new ZT Automotive Collection and operated by ZT Automotive. Both entities are owned by the Badar Family […] [Read More]

Penske Automotive Group confirmed in a statement on its website Wednesday that its board of directors has “received an unsolicited, preliminary and non-binding proposal” from Penske Corp. and Mitsui & Co., Ltd. to acquire the remaining shares of PAG’s common stock that PC and Mitsui and their affiliates don’t currently own. Penske Corp. and Mitsui […] [Read More]

There’s an offer on the table to take one of the country’s six publicly traded dealer groups private. Mitsui & Co., Ltd. and its wholly owned subsidiary Mitsui & Co. (USA) and Penske Corporation — which own a combined 72.3% of Penske Automotive Group — submitted a non-binding proposal on Wednesday to acquire the free-float […] [Read More]

Auto Remarketing is recognizing the 2026 Women in Retail honorees in the July edition of the magazine and at Used Car Week in November. The full set of Q&As with each of these outstanding leaders in this program, presented by CarGurus, is now available. Each of the 25 Q&As can be found below: Q&As with 2026 Women […] [Read More]

Here’s a reminder to establish specific protocols for conducting test drives at your dealership. Or perhaps to revisit and sharpen the strategy already in place. Earlier this month, the U.S. Department of Justice said the fifth member and leader of an organized auto theft ring that stole more than 100 high-end vehicles worth millions of […] [Read More]