Nissan positions redesigned Frontier to take back some ground

Nissan positions redesigned Frontier to take back some ground https://ift.tt/3liybUQ

Nissan once towered in the smaller pickup segment. Now, it just wants a crack at it.

Sonic ponders EchoPark future

Sonic ponders EchoPark future https://ift.tt/37caJk4

The nation's seventh-largest new-vehicle retailer said it is calling for a "review of strategic alternatives" for EchoPark.

4 injured as Faulkner dealership near Philadelphia suffers tornado damage

4 injured as Faulkner dealership near Philadelphia suffers tornado damage https://ift.tt/3zT8caJ

A video taken by someone inside the store shows how the tornado severely damaged the showroom and vehicles.

Ed Morse acquires 2 Texas dealerships; Advantage Rent a Car owner buys store in Georgia

Ed Morse acquires 2 Texas dealerships; Advantage Rent a Car owner buys store in Georgia https://ift.tt/3zXrL1H

Here's our weekly roundup of some dealership acquisitions in the U.S.

CarGurus to launch instant cash offer following CarOffer acquisition

CarGurus to launch instant cash offer following CarOffer acquisition https://ift.tt/3xheH5k

CarGurus is launching a new instant cash service for consumers looking to sell vehicles entirely online.

CarGurus to launch 'instant transaction' offer following CarOffer acquisition

CarGurus to launch 'instant transaction' offer following CarOffer acquisition https://ift.tt/3ldYUSI

CarGurus is launching a new instant cash service for consumers looking to sell vehicles entirely online.

Sonic sets Q2 records, weighs options for booming EchoPark brand

Sonic sets Q2 records, weighs options for booming EchoPark brand https://ift.tt/2V6dFMt

Sonic Automotive Inc. posted several all-time quarterly records in the second quarter and also said it is "considering a full range of potential alternatives" for its rapidly growing EchoPark brand.

Robust demand, inventory squeeze could last another year, Toyota's Carter says

Robust demand, inventory squeeze could last another year, Toyota's Carter says https://ift.tt/3zRMFiO

The automaker is keeping a close watch on the delta variant of the coronavirus and may be forced to adjust its mask policy, to keep in line with federal public health guidance.

Sonic sets Q2 records, weighs options for soaring EchoPark brand

Sonic sets Q2 records, weighs options for soaring EchoPark brand https://ift.tt/3zNInIX

Sonic Automotive Inc. posted several all-time quarterly records in the second quarter and also said it is "considering a full range of potential alternatives" for its rapidly growing EchoPark brand.

Consumer demand, inventory squeeze could last another year, Toyota's Carter says

Consumer demand, inventory squeeze could last another year, Toyota's Carter says https://ift.tt/3yavaK4

The automaker is keeping a close watch on the Delta variant of COVID-19 and may be forced to adjust its mask policy, to keep in line with federal public health guidance.

Ford turns $561M profit in Q2, raises full-year outlook despite chip shortage

Ford turns $561M profit in Q2, raises full-year outlook despite chip shortage https://ift.tt/3laFJce

Ford said it had expected a net loss for the quarter but performed better than expected because of strong demand, lower incentives and a favorable mix of more profitable vehicles.

Sonic buys 2 Colorado dealerships, returns to Subaru brand

Sonic buys 2 Colorado dealerships, returns to Subaru brand https://ift.tt/3iQHpoA

Sonic Automotive purchased two import dealerships in Colorado — its first franchised dealership acquisitions since 2014.

Tesla to shift retail strategy, report says

Tesla to shift retail strategy, report says https://ift.tt/3zMEGn2

The electric automaker plans to pull out of high-rent shopping malls in favor of cheaper locations, Electrek reported. It will also reportedly focus on remote work.

U.S. House clears bill restoring FTC powers to win monetary relief from companies

U.S. House clears bill restoring FTC powers to win monetary relief from companies https://ift.tt/3f1dtoH

The Consumer Protection and Recovery Act authorizes the FTC to go to court to seek monetary relief from businesses that engage in "unlawful commercial practices such as false advertising, consumer fraud and anticompetitive conduct," according to the bill's summary.

Santander taps AutoFi for new shopping, finance platform

Santander taps AutoFi for new shopping, finance platform https://ift.tt/3i7VK0z

The tool, which will undergo pilot testing with select dealerships in the fall, will formally launch in 2022.

Penske's Q2 net income soars to record

Penske's Q2 net income soars to record https://ift.tt/3l5K6pc

Penske Automotive Group said net income totaled $340.4 million, higher than $44.8 million in the pandemic-impaired second quarter of 2020.

North Carolina dealership faces backlash after social media post uses derogatory term for Black customer

North Carolina dealership faces backlash after social media post uses derogatory term for Black customer https://ift.tt/3BPzoZO

A North Carolina dealership issued an apology after posting on its Facebook page a photo of a Black customer identified with a derogatory term.

Hudson Automotive to buy 3 Mercedes-Benz dealerships

Hudson Automotive to buy 3 Mercedes-Benz dealerships https://ift.tt/3iTHYOp

Hudson Automotive Group is slated to acquire two Mercedes-Benz dealerships in Ohio and one in Kentucky. The deal is set to close in mid-September.

Lithia enters Alabama with Subaru dealership purchase

Lithia enters Alabama with Subaru dealership purchase https://ift.tt/3BLrQXS

Lithia Motors Inc. has acquired its first dealership in Alabama as it continues to grow its presence in the Southeast.

Retail tech startup Rodo secures $18 million in financing as actor Kevin Hart takes stake

Retail tech startup Rodo secures $18 million in financing as actor Kevin Hart takes stake https://ift.tt/3zMfY6h

Rodo bills itself as offering an end-to-end solution for purchasing a car within minutes via its app or website.

Asbury reports record Q2 net income of $152 million

Asbury reports record Q2 net income of $152 million https://ift.tt/2WshPyL

Asbury's results continue a streak of landmark earnings among the public dealership groups galvanized by higher vehicle profits during the microchip shortage.

LMP to buy stores in Texas, Connecticut and N.Y.

LMP to buy stores in Texas, Connecticut and N.Y. https://ift.tt/3zCMHL1

LMP's latest planned acquisitions are for Cadillac and Nissan dealerships in Houston, a Kia store in Connecticut and a Chrysler-Dodge-Jeep-Ram store in New York.

Zeigler buys 4 dealerships in Wisconsin

Zeigler buys 4 dealerships in Wisconsin https://ift.tt/2TEkkwQ

Zeigler Auto Group closed on the acquisition of four dealerships in Wisconsin from Home Run Auto Group, including its first Toyota and Hyundai stores.

Zeigler to buy 4 dealerships in Wisconsin

Zeigler to buy 4 dealerships in Wisconsin https://ift.tt/3y9Hmuk

Zeigler Auto Group expects to close on the acquisition of four dealerships in Wisconsin from Home Run Auto Group, including its first Toyota and Hyundai stores.

Polestar eyes doubling retail locations in '21 and '22

Polestar eyes doubling retail locations in '21 and '22 https://ift.tt/2Wo60JR

Polestar says it's on track to double its global retail locations to 100 this year and the Volvo subsidiary believes having 200 locations in 2022 is within reach.

With few cars to sell, where do ad dollars go?

With few cars to sell, where do ad dollars go? https://ift.tt/36ZlrKm

For a second year, dealership marketers are evaluating their advertising strategies in a challenging sales environment.

A green mobility bank could give EVs the spark they need

A green mobility bank could give EVs the spark they need https://ift.tt/3BELVPE

Access to low-interest financing can overcome the public's initial hesitancy to adopt electric vehicles and get the market for a new technology moving.

Dealer anniversaries

Dealer anniversaries https://ift.tt/3iFrNE8

Dealers featured this week include Richard Dorschel and Evan Stark, dealer principal and general manager of Dorschel Toyota in Rochester, N.Y.; David Ho, dealer principal of Pacific BMW in Glendale, Calif.; and James and Michael Herrick, president and vice president of Liberty Ford Maple Heights in Ohio.

AutoNation buys stock, Lithia buys dealerships

AutoNation buys stock, Lithia buys dealerships https://ift.tt/3wZwUEB

Lithia Motors could surpass auto giant AutoNation in annual revenue next year, as Lithia continues to buy dealerships at a feverish pace.

Trust needs to start within dealerships

Trust needs to start within dealerships https://ift.tt/3eYkgPM

Managers need to mentor their salespeople, writes an Automotive News reader in a letter to the editor.

Canadian Infiniti stores can join with Nissan

Canadian Infiniti stores can join with Nissan https://ift.tt/36XOSN2

Faced with slumping sales, Infiniti is allowing its Canadian dealers to save money and consolidate into their Nissan stores.

Delays by Rivian raise customers' frustration

Delays by Rivian raise customers' frustration https://ift.tt/3eXpJGB

They are starting to look at other EVs, and that could be trouble if the electric truck startup can't start delivering soon.

Penske, Cox develop used-vehicle online buying platform

Penske, Cox develop used-vehicle online buying platform https://ift.tt/3zqutfI

The tool, Esntial Commerce, has been rolled out initially at Penske's CarShop used-vehicle stores before a planned expansion to franchised dealerships.

Ford dealership targets 48 hours to get used vehicles ready to sell

Ford dealership targets 48 hours to get used vehicles ready to sell https://ift.tt/3kLs2Aq

A Missouri dealership upped its sales of used vehicles by incentivizing service techs to get each one through the reconditioning process within 48 hours.

Lithia hires new marketing chief

Lithia hires new marketing chief https://ift.tt/3Btakrc

The dealership group hired former Disney creative director Marguerite Celeste as senior vice president and chief marketing officer, effective immediately. It is Celeste's second stint with Lithia.

Lithia hires new CMO, creates head of advertising position

Lithia hires new CMO, creates head of advertising position https://ift.tt/3BDZxe6

The dealership group hired former Disney creative director Marguerite Celeste as the company's senior vice president and chief marketing officer effective immediately. It is Celeste's second stint with Lithia.

Lithia to buy Canadian dealerships from Pfaff Automotive Partners

Lithia to buy Canadian dealerships from Pfaff Automotive Partners https://ift.tt/3y4dQGp

The acquisition would make Lithia the second public dealership group in the Canadian market.

Gurley Leep, PSD Automotive acquire dealerships

Gurley Leep, PSD Automotive acquire dealerships https://ift.tt/2WeD2vZ

Gurley Leep Automotive Family and PSD Automotive Group each acquired stores in the second quarter, while dealer Steve Phillipos bought his second dealership in Homewood, Ill.

Ford accelerates rollout of direct sales outlets for Mustang Mach-E

Ford accelerates rollout of direct sales outlets for Mustang Mach-E https://ift.tt/2TvReja

The automaker is speeding up the establishment of a direct sales network in China for the locally produced Mustang Mach-E electric crossover, with five more stores opening on July 17.

Penske, Cox develop used-vehicle online buying platform

Penske, Cox develop used-vehicle online buying platform https://ift.tt/3y1NXHs

The tool, Esntial Commerce, has been rolled out initially at Penske's CarShop used-vehicle stores before a planned expansion to franchised dealerships.

Dealer Sobel enters Philadelphia market in latest acquisition

Dealer Sobel enters Philadelphia market in latest acquisition https://ift.tt/3kFRxD4

Northeastern auto dealer Jonathan Sobel's latest acquisition of luxury stores in Pennsylvania follows his February purchase of three rooftops in Auburn, N.Y.

VW to drop Passat in U.S. after '22

VW to drop Passat in U.S. after '22 https://ift.tt/3eyLzjo

VW said ending the Passat will allow its Chattanooga plant flexibility to boost sales of its other products, the Atlas and Atlas Cross Sport crossovers, as well as the launch of the ID4 EV there next year.

AutoNation Q2 revenue sets all-time high; net income soars

AutoNation Q2 revenue sets all-time high; net income soars https://ift.tt/3iw3kRY

AutoNation's net income jumped in the second quarter on record revenue generated by surges in new- and used-vehicle sales and higher margins.

Olympic sponsor Toyota to skip TV commercials amid lackluster support in Japan

Olympic sponsor Toyota to skip TV commercials amid lackluster support in Japan https://ift.tt/3zbhOgD

Toyota President Akio Toyoda and other executives will not attend the opening ceremony.

Group helps DE&I efforts move forward

Group helps DE&I efforts move forward https://ift.tt/3BjsL1q

Dealership groups are beginning to address diversity, equity and inclusion issues, writes an Automotive News reader in a letter to the editor.

Used autos, inflation worries and the cost of borrowing

Used autos, inflation worries and the cost of borrowing https://ift.tt/3zcuPqd

Most people in the industry concur the rising consumer prices are transitory, but there's disagreement over the Fed's approach to managing inflation.

China's shoppers now hot for EVs

China's shoppers now hot for EVs https://ift.tt/3kx1pz1

Until recently it was fleet sales that drove the country's boom. Not anymore.

With Biden order, ‘right to repair' in federal focus

With Biden order, ‘right to repair' in federal focus https://ift.tt/2Uj65xU

An executive order signed this month may force automakers to settle their long, drawn-out battle over access to vehicle repair information and parts.

Dealer anniversaries

Dealer anniversaries https://ift.tt/36KZDlW

Dealers featured this week include Stuart Conklin, dealer principal of Conklin Toyota Salina in Kansas; Michael Toycen, general manager of Toycen of Ladysmith; and Gary Housley, president of Chalmers Ford in Rio Rancho, N.M.

F&I profits soar at largest U.S. dealership groups

F&I profits soar at largest U.S. dealership groups https://ift.tt/3rl3FuD

F&I revenue per vehicle and overall F&I revenue rose for most of the 150 largest retailers in 2020, according to an Automotive News survey.