The Presidio Group’s latest report finds the average dealer’s pretax profit and adjusted net income improved in Q3 while the M&A market kept pace with the year-ago quarter. +
CDK’s fifth annual survey of U.S. service customers finds those who seek maintenance and repairs at dealerships remain loyal at a 70% rate despite a decrease in overall satisfaction. +
Lithia Motors has acquired Anaheim Hyundai, Huntington Beach Hyundai and Garden Grove Hyundai, all located in Southern California’s Orange County, from Nouri/Shaver Automotive Group. +
Nearly half a million U.S.-sold vehicles built by Ford Motor Co. have been added to NHTSA’s list of recalled units thanks to an array of potentially faulty parts. +
A new survey of dealership workers finds 82% are satisfied with their jobs, up from 74% a year ago. “I enjoy the people I work with” is the most frequently cited reason. +
Automotive News reports U.S. new vehicle sales registered a 1.2% overall improvement in October despite waning EV demand, led by increases for Toyota, Ford, Honda and Kia. +
NHTSA has issued “Do Not Drive” and “Park Outside” advisories for nearly 300,000 Ram ProMaster vans due to fire risk from a cooling fan issue Stellantis engineers have yet to resolve. +
NADA analysts say waning demand and affordability issues are depressing sales team earnings, Nevada leads the nation in average payroll and bigger dealers continue to gain market share. +
Presidio and NCM analysts say Q3 net pretax profit metrics varied wildly among domestic, import and luxury dealers in a report skewed by EV sales and echoes of the CDK Global outage. +
Lithia has expanded its footprint in the Southeast with a series of dealership purchases over the past several weeks, adding a total of four franchised stores in Florida and Georgia. +
