DealerSocket released its annual Dealership Action Report, which emphasized the importance of formal, technology-driven processes to thrive and increase profitability during slow periods.
Used-car sales franchise J.D. Byrider has opened a second dealership in Richmond, Va., the sixth new J.D. Byrider franchise to open in 2015. The company now has 169 locations in 34 states.
AutoNation has signed agreements to acquire 13 stores in Georgia, Alabama and Tennessee, and three stores in the Baltimore, Md., market, bringing its total franchise count to 327.
An analysis by IHS Automotive commissioned by CallSource found that dealers are failing to convert 84% of inbound prospect calls due to a lack of professionalism and inventory knowledge, among other reasons.
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Tim Engle stepped out of early retirement and into a successful second career at McCafferty Hyundai.
The Alpha Dawg will return to Industry Summit to deliver his two-day training seminar, which will cover topics related to sales, F&I, BDC and Internet department management. The training seminar is included with the purchase of a full conference pass.
The New Jersey Division of Consumer Affairs and AutoSource Group, a used-car dealership, have settled a lawsuit filed by the regulator earlier this year. The dealership was accused of failing to disclose the condition of its cars, among other things.
Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.
Used-vehicle depreciation slowed modestly in June compared to May’s more rapid pace, the firm reported this week, with prices for vehicles up to eight years in age falling 2.5% on a monthly basis in June.
Holman Automotive Group acquires Princeton BMW and Princeton Mini, expanding the company’s footprint into central New Jersey.
Mike Stone’s 50-year career in auto retail was built upon his genuine desire to serve customers over the long term.
The company still expects to complete its proposed acquisition of Dealertrack in the third quarter despite voluntarily withdrawing its filing under the Hart-Scott-Rodino Antitrust Improvements Act. The move was made to give the Justice Department more time to review the proposed deal.
The dealer review site announced the addition of ReviewBuilder to its certified dealer program. The automated solution is designed to help dealers accelerate the collection of online reviews.
