Carvana’s used unit sales in its third quarter set a new sales record. The company is also making strides toward its previously announced goal of selling 3 million used vehicles annually within the next five to 10 years with a pilot program that provides same-day or next-day delivery of vehicles to customers in its Phoenix […] [Read More]

Roger Penske is quite pleased with his used-car operation’s performance in the third quarter. After all, on a same-store basis revenue from used-vehicle sales companywide was up 7.5% year-over-year and gross profit rose 5.7%, with gross per vehicle retailed up 8.5% same-store and 12.2% overall. But the chairman and CEO of Penske Automotive Group knows […] [Read More]

Although Group 1 Automotive achieved record quarterly used-vehicle retail revenues in the third quarter, the company didn’t spend a great deal of discussion time on the used-vehicle category during its third quarter 2025 earnings call on Oct. 28. Group 1 president and CEO Daryl Kenningham did say, however, at the beginning of the call that […] [Read More]

At Canadian auto auctions, October ended with a thud. A sale at an auction was very much an exception last month, according to Canadian Black Book’s weekly Market Insights reports, as the average monitored auction sale rate plummeted below 30% in each of the month's last three full weeks — including a miniscule 22.1% conversion […] [Read More]

Sonic Automotive generated a record quarter for franchise dealer revenues of $3.4 billion, representing a 17% year-over-year increase and an 11% rise on a same-store basis. Fixed operations was a bright spot, helping to drive this success in the publicly traded dealer group’s latest quarterly report, with same-store gross profit up 8%, while same-store customer […] [Read More]

Suspicions are intensifying about the current health of auto finance, especially within the subprime space stemming from the bankruptcy filings of Tricolor Holdings and PrimaLend. For example, the first question from an investment analyst during Carvana’s quarterly conference call last week focused on its outstanding portfolio. And Cox Automotive chief economist Jonathan Smoke wrote an […] [Read More]

The appetite for electric vehicles hasn’t evaporated. Far from it. It’s just that now, with the $7,500 tax credit having expired, the demand that exists (albeit smaller) is more genuine interest and “less deal-driven.” Or as Jessica Caldwell of Edmunds put it in an analysis, perhaps alluding to the most electric of singer-songwriters, EVs have […] [Read More]

Sonic Automotive’s third-quarter earnings report revealed its strongest quarter for franchised dealer revenues in the history of the dealer group, but the picture painted by results for its used-only brand — EchoPark Automotive —wasn’t quite as rosy, mainly due to expected pressure on vehicle gross margins and unexpected off-rental supply headwinds. The dealer group’s used-only […] [Read More]

Asbury Automotive Group had a strong third quarter, but used vehicles were a weak spot. That’s the area the group sees the most room for improvement, said an executive on the earnings call. “We see our performance in used vehicles as our biggest opportunity to improve execution,” Asbury vice president of operations Paul Whatley said. […] [Read More]

Rick Kurtz, senior vice president and chief distribution officer for Protective Asset Protection, spent a few minutes with Cherokee Media Group on Thursday after the company entered into an agreement to acquire Portfolio Holding and its subsidiaries from Abry Partners. Kurtz shared that he had just chatted with Portfolio leadership about how the latest acquisition […] [Read More]