In the fourth quarter of 2022, Sonic Automotive began to see improvement in new-vehicle production, and that helped the company gain higher new-vehicle retail sales volume at its franchise dealerships. That sales volume outperformed the volume change for the overall industry, quarter over quarter and year over year, said Sonic chairman and CEO David Smith. Used-vehicle performance also shined. Sonic’s diversified business model helped its used-vehicle business outperform the change in industry volume. That strong used-vehicle performance took place despite ... [Read More]

AutoNation is continuing to expand its standalone used-vehicle store presence with “more than 20 additional facilities currently under development” and it expects to open “over 10 new stores over the next 12 months,” said Joe Lower, the company’s chief financial officer. Asbury Automotive Group CEO David Hult, said the company incurred $2.7 million in costs for ... [Read More]

Jonathan Jordan, director of retail strategy at JM&A Group, believes we are in a “crucial time in CPO history.” And JM&A’s name has been in the headlines recently for new CPO offerings. JM&A and J.D. Power joined forces last year and released the J.D. Power Edge program, a third-party CPO program for franchised and independent dealers. JM&A developed a strategic alliance with J.D. Power in 2022 to develop co-branded F&I products, and the first product to ... [Read More]

Used-car sales this month are likely to be consistent with October’s figures, but fall 13% year-over-year, according to a forecast released Wednesday by TrueCar. The company is projecting just under 3 million used-car sales for the month. Looking at other pre-owned data points from the report, TrueCar said used-car deals had an average interest rate […] [Read More]

In 2017, Zach Terrell was a quarterback for Western Michigan University, helping to lead his team to the Cotton Bowl. Terrell is now a general sales manager for Zeigler Automotive Group, and the company’s president and owner Aaron Zeigler said he likes to hire athletes because of the energy they bring to their jobs. Zeigler […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. The pandemic impacted much of the automotive space, from how vehicles are retailed to the ways consumers are securing financing. What hasn’t changed, however, is the importance of a dealership’s F&I department, a store segment that […] [Read More]