Joe Overby, Senior Editor

During the Q&A portion of Penske Automotive Group’s latest quarterly earnings call, chairman Rogers Penske was asked if his viewpoint on CarShop and CarSense had changed since the dealer group purchased the respective used-car standalone retailers.  “Yeah, it’s changed. I like it more,”... Read More

Arlena Sawyers , Correspondent

Sonic Automotive’s newest EchoPark used-car store in Colorado Springs, Colo., was “cash positive” in its third month of operation — about six months ahead of when the company’s initial EchoPark stores reached cash positive positions, said Sonic president Scott Smith. “EchoPark results... Read More

CarMax names next COO

AuSM Staff

CarMax chief operating officer Cliff Wood will retire by the end of next summer, the company said Monday. Taking on the COO role at that point will be Ed Hill, who has been CarMax’s executive vice president, strategy and business transformation since 2016. Wood has been with the company since 1993, when he was... Read More

Group 1 sees unprecedented sales in Houston

Nick Zulovich, Staff Writer

The significant damage Hurricane Harvey left in Texas gave Group 1 Automotive the opportunity to watch new and used vehicles roll over the curb at daily sales rates during the last three weeks of September that “were the highest we have ever seen,” says president and chief executive officer Earl... Read More

Joe Overby, Senior Editor

When Asbury Automotive Group announced in July that it was discontinuing the Q auto standalone used-car store business, leadership emphasized this did not mean Asbury was scaling back on used cars. Not by a long shot. “With our investments in digital technologies and lead management initiatives, we have... Read More

Group 1’s Q3 used sales tick 3.3 percent lower

AuSM Staff

While contending with the ramifications of Hurricane Harvey, Group 1 Automotive watched its used-vehicle retail sales soften by 3.3 percent year-over-year during the third quarter. According to its financial report released on Thursday, Group 1 stores in the U.S. turned 26,304 used vehicles during Q3. That’s down... Read More

3.2 Million used-car sales likely for October

Joe Overby, Senior Editor

Used-vehicle retail sales have continued tracking at an annual pace near 39 million units, according to a sales forecast released this week by Edmunds.  The company is projecting 3.2 million used-car sales for October, which would be even with September. The seasonally adjusted annualized rate for used sales in... Read More

Honda named most reliable car brand

AuSM Staff

Honda currently outpaces all brands when it comes to reliability, according to a new analysis based on real-world vehicle repair. Three of Honda’s most popular models — the CR-V, Civic and Accord — are among the top 10 most reliable cars on RepairPal.com’s recently introduced Reliability... Read More

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