AutoNation is taking its micro lease pilot program online. The auto retail giant announced the launch of AutoNation Mobility, a fully digital shopping experience offering the new-vehicle micro lease model, which provides customers short-term access to vehicles without the need to purchase. The platform can be found at autonationmobility.com. The micro lease program is currently […] [Read More]

Lithia & Driveway’s expanding international footprint and customers who keep their vehicle payments affordable by opting for used vehicles instead of new ones, were among the topics discussed during the dealership company’s conference call detailing its earnings for the third quarter that ended Sept. 30. “You have a lot of customers that manage their overall payment by going into the used market,” said Chris Holzshu, who is chief operating officer at Lithia and joined the Oct. 25 earnings call with CEO Bryan DeBoer. “We lost 10 million units in production (because of pandemic constraints), which is ... [Read More]

This dealership news roundup recaps stores that gained new ownership, as well as breaking ground for a fresh rooftop, with the activities happening in seven different states. Kerrigan Advisors was involved in two of the recent actions, as the sell-side advisor represented Fresno, Calif.-based Haron Motor Sales in the sale of Haron Jaguar, Land Rover […] [Read More]

Officials at Carvana spent a good portion of the company’s third quarter 2023 earnings call on Nov. 2 talking about the three-step plan Carvana implemented in the fourth quarter of 2022 to achieve positive free cash flow. And they spent most of that time talking about step 3, which is to return to growth after completing the first two steps. Those first two steps are to ... [Read More]

While Vroom continues to suffer a negative financial impact from aged inventory, it did make progress selling down older units in the third quarter. The online used-car retailer sees brighter days ahead and aims to raise capital in 2024, it said during the NASDAQ-listed company’s third quarter earnings call. “This has been a challenging year as we work through ... [Read More]

Del Grande Dealer Group has partnered with Hyundai Hope On Wheels, a nonprofit organization dedicated to helping kids fight cancer, to present its annual research and programmatic grants to Lucile Packard Children’s Hospital in Palo Alto, Calif. DGDG, which bills itself as Northern California’s largest family-owned automotive group, operates 19 dealerships in the region with […] [Read More]

Former PureCars CEO Stephane Ferri has been named CEO of Call Box, a call tracking and analytics firm and parent company of Car Wars. Ferri will focus on continuing the growth of the Car Wars and Call Box brands, including growth in new verticals, increased penetration in the automotive market and further adoption of artificial […] [Read More]

AutoNation has launched a new platform to sell and deliver auto parts. AutoNationParts.com is an e-commerce website that allows customers to purchase parts and accessories and have them shipped directly to their homes. AutoNation said the site aims to provide fast nationwide shipping for guaranteed-to-fit genuine manufacturer parts from more than 25 brands in order […] [Read More]

Sonic Automotive’s scaled-back, standalone EchoPark used-vehicle operation is narrowing its losses and gaining positive momentum, said its executives during the dealership group’s most recent quarterly earnings call. EchoPark’s income loss of $16.9 million in its third quarter that ended Sept. 30 represents a 46% improvement over the year-ago quarter loss of $31.1 million according to Sonic’s financial results. In the third quarter, EchoPark grew its ... [Read More]

The Jeff Wyler Automotive Family reached a milestone today — 50 years in business. In that span, the Ohio-based dealer group has grown from a small Chevrolet dealership in Batavia to 23 locations in Cincinnati, Columbus, Dayton and Louisville, Ky., representing more than 40 brands and selling more than 45,000 cars per year. The original […] [Read More]