Asbury Automotive Group has signed a deal to buy The Herb Chambers Companies for an estimated aggregate purchase price of $1.34 billion, the retailer announced Tuesday morning. The purchase of the private dealership group includes 33 dealerships, 52 franchises and three collision centers in Massachusetts and Rhode Island. It is said to be “one of […] [Read More]

Georgica Auto Holdings has acquired Kolb Subaru in Orangeburg, N.Y., just north of New York City, from Group 1 Automotive, according to Franchise Equity Partners, an investor in the company. Georgica Auto Holdings, led by CEO Jon Sobel, has been expanding steadily through acquisitions and now operates 27 dealerships in New York, New Jersey and […] [Read More]

AutoNation’s recent earnings call included good news ... and some challenges. AutoNation’s used unit sales were flat year over year, and sequentially down 2% from the third quarter, while supply availability for used vehicles has continued to be a challenge. But looking to the near future, AutoNation expects the normal seasonal swing to used vehicles for the spring selling season to occur, AutoNation chief financial officer Tom Szlosek said during the company’s fourth quarter and full-year 2024 earnings call on Feb. 11. And the company expects that used-vehicle unit sales ... [Read More]

Acquiring enough used inventory is the usual problem for dealerships. In the fourth quarter of 2024, Sonic Automotive faced the opposite problem — it had too much used inventory. Poor results in the EchoPark Automotive used-car segment pulled down Sonic’s overall performance in the fourth quarter, Sonic executives said on the earnings call. EchoPark revenue in the fourth quarter ... [Read More]

We wrap up our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with a presentation dedicated to modern strategies to help dealers maximize their profits. Sharing those best practices are two experts from Cox Automotive, Chrisy O’Hara and Bethany Johnson. Listen to the episode in the window below. [Read More]

A new partnership aims to make it easier for private parties to sell their electric vehicles. PrivateAuto has partnered with EV analytics provider Recurrent to enable Recurrent’s community of 30,000 EV owners to list their vehicles for private sale on PrivateAuto’s end-to-end transactional marketplace for private-party vehicles. PrivateAuto’s platform is designed to eliminate common challenges […] [Read More]

With automotive technicians in high demand, a new nonprofit organization aims to help meet that need through industry-driven education. The Collision Engineering Career Alliance launched this month, bringing together partners from industry and education to help address the demand for highly skilled collision repair technicians nationwide. The alliance grew out of a collision engineering program […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from Used Car Week 2024 in Scottsdale, Ariz., is a panel discussion featuring Cherokee Media Group’s 2024 Women in Retail honorees, who share their career journeys, success strategies and more. Listen to the conversation in the window below and stay tuned for more from Used […] [Read More]

Car Pros Kia Glendale reached the top of the heap — again — leading strong sales performances by the dealership group’s Southern California stores in 2024. Car Pros Automotive Group announced its Glendale location ranked first nationally in new Kia retail sales, its fifth consecutive No. 1 ranking. In addition, MINI of Downtown Los Angeles, […] [Read More]

A bet between a couple of Hall of Famers will put Shaquille O’Neal on the track at Daytona International Speedway. Well, his image, at least. When the former NBA star and current basketball commentator ended his playful war of words with seven-time NASCAR Cup Series champion Jimmie Johnson last week by winning a free throw-shooting […] [Read More]