Archive | Auto Industry News

NADA Chief Economist Counters Edmunds.com Analysis of Clunkers Program

McLEAN, Va. — After a thorough review of the Cash for Clunkers program, the chief economist of the National Automobile Dealers Association (NADA), Paul Taylor, determined that the cost of each incremental vehicle sold was around $4,587. An incremental sale is a sale that would ... Read More » Tags: , ,

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FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

WASHINGTON, D.C. – At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC. The Rule was promulgated under the Fair and Accurate ... Read More » Tags: , , ,

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Lithia Motors Posts 3Q Profit, F&I Revenue Down 24 Percent

MEDFORD, Ore. — Lithia Motors Inc. posted a third-quarter profit of $7 million from continuing operations, an increase from the $2.5 million recorded in the year-ago period. Third-quarter revenue from continuing operations totaled $458 million, down 9.6 percent from $507 million in the year-ago period, ... Read More » Tags: ,

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Sonic Posts 3Q Profit, F&I Revenue Down

CHARLOTTE, N.C. — Sonic Automotive Inc. reported a third quarter profit of $18.4 million from continuing operations, up from a loss of $15.1 million in the year-ago period. The nation’s third largest automotive retailer reported total revenue of $1.52 billion in the third quarter, down ... Read More » Tags: ,

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AutoNation Posts 3Q Profit; YOY F&I Revenue Down 31 Percent

FORT LAUDERDALE, Fla. — AutoNation Inc. reported a profit of $65 million from continuing operations for the third quarter 2009, compared to a net loss of $1.40 billion in the year-ago period. AutoNation’s third quarter 2009 revenue totaled $2.9 billion, compared to $3.4 billion in ... Read More » Tags: ,

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APCO/Easy Care Named Warranty Administrator of CarMark Certified Pre-owned Program

CARY, N.C. — APCO/EasyCare, a national provider of warranties, vehicle service contracts and other consumer benefits, was named today as the warranty administrator of the new CarMark Certified Pre-Owned Program from the Pre-Owned Automobile Dealers Alliance. CarMark Certified will be available to dealers throughout most ... Read More » Tags: , ,

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