Courtesy Automotive Group has added a seventh location with the acquisition of East Valley Nissan in Mesa, Ariz., from owner-operator Greg Burk, according to seller’s representative Kerrigan Advisors. The dealership, renamed Courtesy Nissan of Mesa, is located in the Superstition Auto Mall in Mesa, where Courtesy also has Kia, Jeep and Chrysler/Dodge/Ram stores. The Phoenix-based […] [Read More]

Like most dealership groups, Penske Automotive Group faced headwinds in its used-car business in the third quarter. “The new-vehicle market remains solid while used-vehicle supply and affordability remains challenging,” said CEO Roger Penske. But PAG is counting on an improving supply of loaner cars from the manufacturers to boost its used-vehicle supply going forward, he […] [Read More]

Toyota has charged up its North Carolina battery plant with a jolt of cash. The automaker announced a new investment of nearly $8 billion that it said will add some 3,000 jobs at Toyota Battery Manufacturing North Carolina. The addition boosts Toyota’s total investment to $13.9 billion, which is expected to create more than 5,000 […] [Read More]

AutoNation’s used-car business remained challenging in the third quarter, so the publicly listed auto retailer chose to focus on sequential improvement in used- vehicle sales during its earnings call. Used-vehicle unit sales increased by 5% in the third quarter compared to the previous quarter to 72,517 units, “which would not be possible without a daily focus on vehicle sourcing,” said CEO Mike Manley He acknowledged continuing difficulty obtaining enough used inventory and highlighted AutoNation’s ... [Read More]

Holman, one of the largest integrated automotive service companies in North America, has signed on as an official partner of the National Hockey League’s Philadelphia Flyers. The deal makes Holman the presenting sponsor for two of the team’s major community initiatives — Flyers Learn to Play and Next Shift: Mentoring the Next Generation of Female […] [Read More]

Group 1 Automotive had a record-breaking third quarter, and according to company officials, technology is playing a big role in that success. The dealer group, which operates 201 dealerships and 41 collision centers in the U.S, and U.K., reported $4.7 billion in revenues and total gross profit of $786.2 million – both company records – during its quarterly earnings call this week, as well as $169.8 million in adjusted net income. Group 1 also set all-time highs for ... [Read More]

McGovern Automotive Group announced it has added to its holdings in New York with the acquisition of Genesis of Queensbury. The Massachusetts-based dealer group will relocate the dealership to Albany, some 50 miles south, joining its Jaguar Land Rover and Volvo stores at the Albany Luxury Car Campus. In a news release, McGovern said much […] [Read More]

There are 20 groups for all manner of car dealers – franchises, independents, buy-here pay-here, big dealers, small dealers, fixed ops and more. Now there’s a 20 group for vendors. Vendor 20 Group (V20), which launched with its inaugural meeting Oct. 16 in Las Vegas, bills itself as the auto industry’s first 20 group “dedicated […] [Read More]

Gettel Automotive has expanded its Florida holdings by acquiring Stadium Toyota in Tampa from the Parks and Couey families. Kerrigan Advisors, which represented the sellers in the transaction, announced the sale in a news release. The dealership is ranked among the nation’s top 10% of Toyota dealerships and has earned numerous awards for its sales […] [Read More]

Asbury Automotive Group struggled against “challenges” in its used-car operations during the third quarter of 2023, company officials said. In its quarterly earnings call this week, Asbury – one of the nation’s largest dealer groups with 138 dealerships, a service contract provider and 32 collision repair centers – announced a 17% year-over-year drop in net income to $169 million and a 5% decrease in revenues, to $3.7 billion. That said, there is help on the way, thanks to ... [Read More]