In what turned out to be the company’s best second quarter for earnings per share in five years, Lithia Motors achieved double-digit gains in same-store used revenue and same-store used sales, the company revealed Wednesday. Furthermore, Lithia more than doubled its adjusted net income from continuing operations, which totaled $14.6 million ($0.54 per share), up […] [Read More]

AutoNation notched a significant gain in used-vehicle gross profit during the second quarter, which along with a major lift in new gross profits, helped the retailer’s operating income climb double digits. In other good news for its used operations, AutoNation moved 42,833 retail-used sales during the period, an improvement of almost 6 percent from the […] [Read More]

Chevrolet revealed today it will be involving its fans and customers in its 100th birthday celebration. As the countdown to the big day — Nov. 3 — begins, the automaker will be encouraging its followers to vote for their favorite Chevy cars and trucks and “take the birthday party to their communities with the help […] [Read More]

Reporting second-quarter earnings on Tuesday morning, three of the country’s largest dealer groups — Asbury Automotive Group, Group 1 Automotive and Sonic Automotive — enjoyed lifts in their used-car operations from a year ago, helping all three succeed in an auto environment that was limited due to the Japanese disasters. [Read More]

Though the company still incurred a net loss in the second quarter, Chrysler’s top boss was upbeat about the automaker’s progress and where it may be headed. When quarterly results were released Tuesday — which marked the first time Chrysler and Fiat have unveiled results together — not only was Chrysler’s progress highlighted, but officials […] [Read More]

Ford’s second-quarter results released Tuesday revealed that the automaker’s North American wholesales in the second quarter came in at 736,000, up 77,000 from a year ago. This is some good news for auctions that have been seeing lower wholesale volumes for some time. Moreover, North American revenue came in at $19.5 billion, up $2.6 billion […] [Read More]

CBS MoneyWatch thinks a three-year-old Toyota model is a better choice than alternative makes in three different vehicle segments, according to recently posted commentary. CBS MoneyWatch’s Jerry Edgerton also doesn’t have much faith in a pair of used Volkswagen models. The site’s auto columnist offered an alternative over what VW has in two segments, small car and […] [Read More]

Penske Automotive Group’s significant uptick in used sales helped overcome what was a modest drop in new sales, as the company enjoyed a “solid quarter” despite the inventory pressures it faced in the aftermath of the Japanese earthquake. Reporting second-quarter results Thursday, Penske said it achieved $39.9 million in income from continuing operations attributable to […] [Read More]

As the site pinpointed the best day in July to acquire a new vehicle, TrueCar.com also highlighted this month’s best purchase and lease deals being rolled out by OEMs. Based on data from its latest TrueTrends Report, TrueCar.com believes July 30 is the best day for consumers to hit franchise dealers. After scouring cash, finance […] [Read More]

Saab announced Thursday that the date to resume production at its Trollhattan plant will be postponed until late August, at the earliest. The automakers recent proposal to restart production Aug. 9 was delayed because of a failure to secure the necessary parts from suppliers. An industry-wide summer break that affected a large amount of the automaker’s […] [Read More]