Trade News

A dealership's employee diversification strategy can't be just empty words. It requires an intentional mindset from leadership to set the tone for the rest of an organization, said Frank Williams, who owns four RML Automotive Group dealerships in Alabama and Tennessee.

Williams said such an approach was on display when Black Entertainment Television co-founder Robert Johnson partnered with the McLarty-Landers Automotive Group in 2007. At the time, Johnson said one mission of the RLJ-McLarty-Landers Automotive Group, now known as RML Automotive, was to recruit and train minority entrepreneurs to manage dealerships while putting them in a better position to raise capital to buy their own stores.

The company carried out this vision and made Williams its first minority dealer partner in 2008, when he assumed control of Landers McLarty Dodge-Chrysler-Jeep-Ram in Huntsville, Ala. Williams, after getting his opportunity, brought the same commitment to diversity over …

SONOMA, Calif. — The massive investment Jaguar Land Rover made in the Land Rover brand could not have come at a better time. Nearly all of the brand's SUVs are in high demand as the current, waning Jaguar lineup heads toward extinction in less than three years.

First came a new a Defender in late 2019. Then the second-generation Range Rover Evoque arrived a few months later. Other Land Rovers have been given midcycle freshens. This year, Land Rover will replace its two highest-profit vehicles, the Range Rover and Range Rover Sport.

JLR's North American CEO Joe Eberhardt spoke with Staff Reporter Richard Truett on the sidelines of the Range Rover's media debut here. Eberhardt waved off questions about a significant new strategic repositioning plan in the works for JLR, referred to as the Reimagine plan. He said details of that plan are in development. But the outlook for the company's products at hand made for a broad discussion. Here are edit…

For Basil Family Dealerships in western New York, selling big trucks and vans to commercial clients is big business.

Basil is one of many retail groups across the country to make a successful business out of selling and outfitting light-duty trucks and cargo vans for electricians, plumbers, landscapers and other commercial clients.

From dump trucks and dry freight trucks to cutaway vans and cargo vans, about 1,000 vehicles are sold by Basil for commercial use every year, said Bill O'Brocta, commercial fleet sales director for the group, which has Chevrolet, Buick, GMC, Cadillac, Ford, Toyota, Volkswagen and used-vehicle stores in markets outside Buffalo.

The group also has two commercial vehicle centers.

"We do small fleet, larger fleet, lots of government business and small business," he said. "Vehicles can range from cargo vans to pickup trucks to cube vans. We're not No. 1 in one particular area. We kind of spread the wealth around and help e…

For Basil Family Dealerships in western New York, selling big trucks and vans to commercial clients is big business.

Basil is one of many retail groups across the country to make a successful business out of selling and outfitting light-duty trucks and cargo vans for electricians, plumbers, landscapers and other commercial clients.

From dump trucks and dry freight trucks to cutaway vans and cargo vans, about 1,000 vehicles are sold by Basil for commercial use every year, said Bill O'Brocta, commercial fleet sales director for the group, which has Chevrolet, Buick, GMC, Cadillac, Ford, Toyota, Volkswagen and used-vehicle stores in markets outside Buffalo.

The group also has two commercial vehicle centers.

"We do small fleet, larger fleet, lots of government business and small business," he said. "Vehicles can range from cargo vans to pickup trucks to cube vans. We're not No. 1 in one particular area. We kind of spread the wealth around and help e…

SONOMA, Calif. — The massive investment Jaguar Land Rover made in the Land Rover brand could not have come at a better time. Nearly all of the brand's SUVs are in high demand as the current, waning Jaguar lineup heads toward extinction in less than three years.

First came a new a Defender in late 2019. Then the second-generation Range Rover Evoque arrived a few months later. Other Land Rovers have been given midcycle freshens. This year, Land Rover will replace its two highest-profit vehicles, the Range Rover and Range Rover Sport.

JLR's North American CEO Joe Eberhardt spoke with Staff Reporter Richard Truett on the sidelines of the Range Rover's media debut here. Eberhardt waved off questions about a significant new strategic repositioning plan in the works for JLR, referred to as the Reimagine plan. He said details of that plan are in development. But the outlook for the company's products at hand made for a broad discussion. Here are edit…

Wholesale used-vehicle prices ticked down again in April, marking three full months of slight cooldown after a long stretch of record elevation last year.

Cox Automotive said Friday that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim's U.S. auctions, fell 1 percent in April compared with March.

Even though wholesale prices are showing signs of decline, they remained 14 percent higher in April than they were in the year-earlier period. Those numbers are adjusted for mix, mileage and seasonality. On a nonadjusted basis, the Manheim Index rose 2.9 percent from its March level, with prices up 16.4 percent year over year.

Retail prices didn't show an increase that's typical for April, when more car buyers are getting their tax refunds. In fact, retail prices fell 13 percent from March to April, and they're down 21 percent from the same time last year, according to Cox.

In part that is because just 68 percent of 2022's poten…

Kia is refreshing the boxy 2023 Soul with a new grille, larger touch screen, more standard safety tech and a streamlined menu of trims.

The subcompact hatchback continues to be a hot seller for the brand, with over 75,000 U.S. sales in 2021. The third-generation Soul was redesigned on an all-new platform for the 2020 model year. An electric variant was planned for the 2021 model year, but Kia nixed it for the U.S., citing supply issues, and instead prioritized the Niro EV subcompact crossover.

For 2023, the 2.0-liter inline four-cylinder engine is the only powertrain offered for the Soul. It's paired with a chain belt-based continuous variable transmission and delivers 147 hp and 132 pound-feet of torque.

The Soul lineup is trimmed to five models: LX, S, EX, GT-Line and GT-Line Tech. The Turbo variant with the 201-hp turbocharged engine and seven-speed dual-clutch transmission has been dropped. The X-Line is also discontinued.

Genesis' new GV60 electric crossover will make its showroom debut in phases, starting with certain dealerships in California, Connecticut, New Jersey and New York in two weeks.

The phased approach ensures that Genesis meets consumer demand, and availability will be expanded to more states throughout 2022, a brand spokesperson said.

The GV60 will be available in two all-wheel-drive variants: Advanced and Performance. The GV60 Advanced will be able to travel 248 miles on a single charge; the GV60 Performance has a slightly lesser range of 235 miles.

Genesis has been tight-lipped about U.S. specs, but according to a document obtained by Automotive News, the Advanced variant will have a 74-kilowatt electric motor in the front and a 160-kW electric motor in the rear — both powered by a 77.4-kilowatt-hour battery. It will be able to deliver 314 hp and 446 pound-feet of torque. It also will have 20-inch aluminum alloy wheels.

Th…

CDK Global Inc.'s net income plunged in its fiscal third quarter, though its earnings results compare against a year-ago quarter that was lifted by the sale of its international business to a private equity firm.

CDK on Thursday reported increased net earnings from continuing operations in its fiscal third quarter, which ended March 31. CDK said continuing operations exclude the international business and the company's former digital marketing business, which it also sold.

The suburban Chicago dealership management system giant on Thursday reported net earnings attributable to CDK of $66.1 million, down 92 percent from the same quarter a year ago. But net earnings attributable to CDK of $860.9 million in the year-earlier quarter included net earnings of $815.8 million from discontinued operations, which CDK defined as the international business it sold.

Net earnings from continuing operations rose 49 percent to $70.1 million. Revenue in the quarter rose…

PARIS -- A few automakers are exploring whether to shear off electric vehicles as a separate business unit, or even a listed company. 

Their reasons include a need for more agility, a desire to attract capital from Tesla-besotted investors, and a fresh start unburdened by potentially worthless “legacy” assets such as engine factories.

They include Ford, with its Blue (internal combustion) and Model e (EV) units; Geely, with its coming Polestar SPAC reverse-merger listing; and Renault (weighing a separate listing for EV assets).

But others are planning to stay the course, at least for now. 

Stellantis, itself in existence for little more than a year, does not anticipate any fundamental changes to its business structure, Chief Financial Officer Richard Palmer said Thursday.

Palmer was responding to a question from analyst George Galliers of Goldman Sachs, who noted that splitting off EV activities is a “hot topic” among Stellantis’…

Three Ford dealerships and a Nissan dealership traded hands in single-store, first- and second-quarter transactions.

Here's a look at the deals involving dealerships in Michigan, Illinois, South Carolina and Alabama. Two of the transactions involved groups ranked on Automotive News' top 150 dealership groups list.

Growing megadealer Serra Automotive Inc. of Fenton, Mich., has purchased another domestic-brand dealership in the Detroit area.Serra on Monday bought Tom Holzer Ford in Farmington Hills, Mich., from Connie Holzer.

The dealership was renamed Serra Ford Farmington Hills. In a note to employees about the acquisition, Serra Automotive Chairman Joe Serra said Tom Holzer died in 2006 and his wife took over the business and helped grow it into one of the nation's highest-volume Ford stores. The automaker confirmed that Tom Holzer Ford ranked No. 20 in new-vehicle Ford sales nationally in 2021.

Serra also said Ben Heer was named general manag…

DETROIT — General Motors' upcoming used- vehicle sales platform aims to give the automaker the inventory scale to compete against disrupters and long-standing players in the used-vehicle space while also creating an avenue for boosting its software and subscription revenue long term.

More than 800 dealerships have signed up for CarBravo since GM announced the platform in January, and Steve Carlisle, president of GM North America, hopes that count grows to at least 1,200 before the automaker begins opening regional distribution centers this summer.

The automaker plans to fill the regional centers with eligible GM-brand and non-GM used vehicles to expand inventory available to participating dealers.

"That's very good coverage if you compare us to Carvana, CarMax or the like," Carlisle told Automotive News.

Cox Automotive estimates that half of all used retail sales — or about 10.6 million vehicles — were sold by franch…