Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.
Lithia Motors’ first-quarter results include continued gains in F&I penetrations and revenue, a result the dealer group credits to its aggressive acquisition strategy.
Record-setting F&I, a strong used-vehicle segment, and gains in parts and service paved the way for a year-over-year improvement in total gross profit for Lithia Motors during the period.
Lithia Motors Inc. has acquired Carbone Auto Group, a New York- and Vermont-based dealer group that generates an estimated $600 million in annual revenue, according to a company announcement. The purchase adds 13 stores to Lithia's portfolio.
The regulator said the three companies agreed to settle its charges that they failed to disclose that some certified pre-owned vehicles were subject to open and unrepaired safety recalls despite claims of rigorous inspections in advertisements.
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.
Dealership buy/sell activity in the U.S. reached a new high, in part due to Berkshire Hathaway’s acquisition of Van Tuyl, the largest acquisition in the auto industry’s history.
Buy/sell activity is being driven by the fact that auto dealers are enjoying some of the best operating conditions in more than a decade, Haig Partners reports.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In