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Analysts predict further declines while auto retailer CEOs predicted sustained gross profits higher than 2019.
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People keeping vehicles longer and driving more miles is increasing parts and service needs.
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Kerrigan Advisors analysts say the stock prices for America’s seven publicly traded dealership groups are outpacing the broader U.S. equity markets and could soar higher on lower interest rates and new trucks.
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Through July, J.D. Power’s Adjusted Used Vehicle Price Index stood at 119.3, which is 4.7 percentage points higher than the year-ago period. The firm said used-vehicle prices began showing strength in the middle half of 2017, a trend that continued deep into this year’s summer selling season.
Read More →The public dealer group has acquired Crown Chrysler Jeep Dodge Ram Fiat in Concord, Calif., and Bennett Motors in Great Falls, Mont. The stores are expected to add $75 million in estimated annual revenues.
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Auto Dealer TV's Jennifer Nebrich reports on Lithia Motors' acquisition of DCH Auto Group, a new Congressional challenge to the CFPB and the NADA's campaign to educate consumers on the benefits of the franchise system.
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