Foundation Automotive Corp., which has stores in both the U.S. and Canada, said Tuesday it has purchased its first Mercedes-Benz dealership, acquiring Mercedes-Benz of Wichita Falls in Texas. This is the group’s ninth store in Wichita Falls, Texas, and 36th overall. Kendrick Jones will be the dealership’s general manager. “Mercedes-Benz is synonymous with excellence and […] [Read More]

Experts likely are just beginning to tally up how many used vehicles dealerships retailed in August. But ADESA chief economist Tom Kontos highlighted how many used vehicles were retailed through July as a part of his latest Kontos Kommentary. Kontos reported that franchised and independent stores combined to retail … [Read More]

Sonic Automotive continued expansion of the EchoPark Automotive brand on Wednesday on its drive toward a nationwide distribution network that is expected to reach 90 percent of the U.S. population by 2025. The newest delivery center is in Tulsa, the second largest city in Oklahoma. According to a news release, the Tulsa delivery center is […] [Read More]

Black Book reported that the wholesale market sales rate now is estimated to be at the lowest level since the beginning of the year. And TrueCar is expecting another slowdown of used-vehicle retail sales, too. On Tuesday, TrueCar projected that used-vehicle sales for August would be .. [Read More]

Group 1 Automotive will start the new year with a new chief executive officer. The retailer said Wednesday that president and CEO Earl Hesterberg will retire from his chief executive post and from the board of directors on Dec. 31. Stepping into the CEO role on Jan. 1 will be Daryl Kenningham. Kenningham, who is […] [Read More]

A dealership group in North Carolina’s Research Triangle region is turning to local car enthusiasts to help with one of the most pressing needs facing auto retailers today: finding employees, especially automotive technicians. Another in the western half of N.C. is moving to state’s biggest city and bringing more jobs along the way. Starting with […] [Read More]

An independent dealership expert is gaining steam with his new consulting firm launched earlier this year. SmartGroups, which launched early this year by dealer educator Justin Osburn, already has multiple groups in place for small stores and for the nation’s largest independent dealers. The latest group, known as Poseidon, will hold its first meeting Oct. […] [Read More]

CarMax wants to boost its workforce, so the used-vehicle retailer is set to host a major hiring event at 15 of its locations nationwide on Thursday. The company said in a news release that it will be interviewing candidates for a variety of positions, including technicians, detailers, painters, supply associates and more. CarMax indicated there will be […] [Read More]

Here’s at least one place in the automotive landscape that’s currently stable. On Thursday, Urban Science announced highlights from its 2022 midyear Franchise Activity Report (FAR), which shows continued stability for the U.S. automotive retail franchised dealership network despite continued inventory shortages during the first six months of the year. As of July 1, Urban […] [Read More]

This week, two of the publicly traded dealer groups made moves, as Sonic Automotive acquired another store, and Group 1 Automotive shared an announcement for its shareholders. And another former star with the New York Yankees is opening a Honda dealership. On Wednesday, Sonic announced it has acquired Audi Owings Mills, marking the company’s eighth […] [Read More]