Higher interest rates could slow Group 1 acquisitions in '23
While Group 1 Automotive will likely acquire more dealerships in 2023, CEO Daryl Kenningham says the transactions may not come at the same rate as over the previous 18 months.
Gentex says Q4 net income rose 2.3% while revenue improved 18%
Automotive mirror supplier Gentex said its fourth-quarter net income rose 2.3 percent to $86.2 million as customers improved production from previous quarters.
American Honda expects 25% sales bump this year
The automaker will focus on electrification and digitization. It expects to produce 1.3 million vehicles this year, resulting in a 25% increase over 2022.
Ford, GM options for EV dealers reshape retail
While Cadillac and Buick are making dealers walk away if they don’t want to sell EVs, Ford has allowed for more flexibility but received complaints from some state dealer associations.
Dealer Damon Lester: More diversity needed among owners
More work needs to be done to make the number of minority-owned dealerships representative of the U.S. car-buying market, says dealer Damon Lester.