Retail used-car trends to watch this year

Arlena Sawyers , Correspondent

Dealers know that competition for retail used-vehicle sales and profits is fierce, and keeping expenses manageable and transaction prices competitive is a never-ending battle. But despite that, many dealers are betting on a strong economy and strong used-car sales this year, and some are even adding stores or... Read More

Group 1 announces $500 bonus for US employees

AuSM Staff

Group 1 Automotive announced Friday that it will give its U.S. non-management dealership employees and operational support staff a $500 cash bonus this year, following the recent tax bill that recently became law in December. “As we were in the process of reviewing the opportunities the new tax... Read More

39.5 million used-car sales expected this year

Joe Overby, Senior Editor

There was a 1-percent hike in used-vehicle retail sales in 2017, according to Cox Automotive, which reported the year ended with 39 million used cars sold. And look for more growth this year. The company is anticipating 39.5 million used-car retail sales in 2018. As for 2017, the year closed with used-car sales... Read More

For independent dealers, PPMs keep buyers coming back

Jim Leman, Special to AuSM

As independent auto dealers look to bolster their competitiveness and strengthen their performance, many are turning to practices franchised dealers have been using for some time to increase their service business and retain customers. One practice, which automotive consultant Ed French of AutoProfit says “builds... Read More

AuSM Staff

Morgan Auto Group announced Monday that it has named Dan Like the regional director of its north Florida operations in Jacksonville and Gainesville. Like most recently served as general manager for six years at Morgan Auto Group’s Honda of Gainesville store. “I am so pleased that Dan Like will have... Read More

J.D. Power's Stanton named NADA COO

AuSM Staff

Mike Stanton, a longtime executive with what is now known as J.D. Power Valuation Services, is back with the National Automobile Dealers Association. NADA said Wednesday that Stanton has been named its senior vice president and chief operating officer. “I am excited to be back at NADA and have the opportunity... Read More

From the Editor: CPO Extra is now Pre-Owned & CPO

Joe Overby, Senior Editor

Though it doesn’t seem that long ago, I wrote a blog post in May for our Used Car Week website that explained the new-and-improved agenda format for the weeklong conference series. Included in that new Used Car Week format was the CPO Forum transitioning into the Pre-Owned Con. Essentially, we adapted the... Read More

7th straight record year for CPO car sales

Joe Overby, Senior Editor

Certified pre-owned vehicles sales reached a seventh straight record year by the slimmest of margins. According to Autodata Corp., there was an estimated 2,645,718 CPO vehicles sold in 2017, compared to 2,642,986 sold in 2016. That’s a gain of just 0.1 percent, but it was enough to bump certified sales to their... Read More