BMW of North America named a new manager of pre-owned sales to replace Russ Lucas, who is moving to the role of vice president of the Eastern Region. Appointed to serve as pre-owned manager is Steve Saward, who will begin his new post on Oct. 1. In this role, he will head up all pre-owned operations for […] [Read More]

Sizable increases during the second quarter of their fiscal year in net income, comparable store used unit sales and total used unit sales left CarMax executives in an upbeat mood when they shared their latest financial statement Wednesday.   The company revealed net income increased to $107.9 million, or $0.48 per diluted share, compared with […] [Read More]

To help its dealers provide greater transparency and stimulate used-car buyer confidence — and thus, hopefully, generate sales — FordDirect revealed Tuesday that its website and the roughly 3,500 dealer sites built via its DealerConnection program now offer AutoCheck vehicle history reports from Experian Automotive on all used models for sale.   [Read More]

Fiat recently announced that automotive industry veteran Andrea Formica has been named head of the Fiat brand. He will also be in charge of Chrysler brands in Europe. He replaces Lorenzo Sistino, who will head international operations. According to management, Formica has a wealth of experience gained at Ford and Toyota. Formica will also head […] [Read More]

Ford’s annual look at U.S. vehicle-buying preferences revealed favorites are sometimes connected to local sports teams and weather conditions, but some surprising trends still came to light.   For example, Ford indicated it sold the most red-colored vehicles in Cincinnati — home of the Cincinnati Reds baseball team — and the most units with molten […] [Read More]

Late last week, BMW Group shifted its manager of pre-owned sales into another executive role as the result of the unexpected death of one of its vice presidents. Russ Lucas’ new position effective Oct. 1 is as the automaker’s new vice president for the Eastern Region. The company indicated Lucas’ overall responsibilities will include sales, […] [Read More]

While each market performs somewhat differently, some certified pre-owned vehicle categories tend to be hot sellers, whereas others are perhaps not so popular.  So what has Art Spinella, of CNW Research, discovered? He found that near-luxury, luxury and hybrid CPO models have been healthy as of late, while smaller, budget cars have been the slowest to move. That […] [Read More]

General Motors chief executive officer Dan Akerson would not comment on the automaker's initial public offering during his first press conference with the media in his new role on Thursday, but various news reports claim that the automaker will go on a two-week "road show" the day after November's mid-term elections to stir up some interest in the […] [Read More]

The surge in new-vehicle sales dealers enjoyed during Labor Day weekend apparently isn't sustaining as September rolls along. Edmunds.com analysts believe the current pace of sales could leave the SAAR for this month at 11.3 million. They said that rate is assuming slightly lower fleet sale volume than August. "New-car sales for the three-day weekend […] [Read More]

When it comes to possible discounts on MSRP, TrueCar.com said Thursday that the leaders of the pack are still 2010 model-year Big 3 makes and models.  For the 2010 model-year, the heaviest price-reduction are being offered on Chevrolet models (16 percent discount), followed by Ford (14 percent) and Chrysler (12 percent) brands, TrueCar.com said in […] [Read More]