Asbury Automotive Group’s used-vehicle sales, revenue and gross profit declined in its first quarter that ended, March 31, when compared to the first quarter of 2024. But as the dealership group pointed out, it completed six dealership divestitures in 2024 that represented an estimated $225 million in annualized revenue and two divestitures in the first quarter of 2025. The company’s quarterly gross profit of $1,587 per used unit retailed represented its ... [Read More]

Carvana can’t get enough of pickleball. The online used-car retailer announced it has extended its title sponsorship agreement with the Professional Pickleball Association with a new multi-year deal. Carvana’s association with the PPA Tour began in 2022, a partnership the company said “has helped propel pickleball to new heights as America’s fastest-growing sport.” The new […] [Read More]

Dennis Thornhill, a longtime auto industry veteran with Toyota Motor North America, has joined Pinnacle Mergers & Acquisitions as an executive advisor. In a news release, Pinnacle said Thornhill will use his extensive experience in dealer operations, franchise policy and market representation to guide clients through complex transactions. The firm said his longstanding relationships with […] [Read More]

Kia America has made good on its mission to “accelerate the good.” The automaker announced its Accelerate the Good Dealer Match program raised a total of $4.6 million for nonprofit organizations in 2024, including donations totaling more than $1.5 million each to St. Jude Children’s Research Hospital and No Kid Hungry. The initiative between the […] [Read More]

After reporting strong first quarter results, used-car retailer Carvana set a goal of selling 3 million units with significant profit within five to 10 years. It is well on its way to achieving its “mission” of changing the way people buy cars, Carvana chairman, president and CEO Ernie Garcia said during the earnings call. “Given the position we're in and the fundamental gains we see in front of us, the path to that goal, which we currently view as both very exciting and very achievable is that we ... [Read More]

Montway Auto Transport is teaming up with USAA to offer discounts to the insurance provider’s members. The third-party automotive transport company said members can save up to $125 on car-shipping services through the USAA Perks program. USAA, founded in 1922 by a group of military officers, offers insurance, banking and retirement services to members of […] [Read More]

Chris Vester wants fellow dealers to gain emotional intelligence — not just retail and service cars. In this episode of the Auto Remarketing Podcast, listen to a lunchtime conversation, presented by Vitu, from this spring’s Auto Intel Summit with the co-CEO of the Hubert Vester Automotive Group. Vester recapped his path to gaining emotional intelligence […] [Read More]

Tariffs are here. Already high new-car prices are likely to continue climbing and what’s going to happen to sales going forward is anybody’s guess. Is Roger Penske worried? Not a bit. In the first three months of 2025 ... [Read More]

Two dealership groups ventured into new territory with acquisitions in states outside their previous footprint. Texas-based Casa Auto Group, which operates 11 dealership locations in its hometown of El Paso and Southern New Mexico, has taken a step to the west with its first acquisitions in Arizona. Casa purchased Chevrolet/Cadillac and Nissan dealerships in Prescott, […] [Read More]

While auto dealership M&A in the first quarter was down year-over-year, buy-sell momentum is building and there is “plenty of opportunity” in coming months, according to The Presidio Group, which anticipates a “very active M&A environment” the rest of the year. The firm’s latest report, Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A […] [Read More]