Penske Automotive Group just got a little bigger with a Michigan store purchase: https://loom.ly/15QbBt0 #PenskeinMich
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🏆 Award-Winning 🏆 Regional Sales Manager & Strategic Business Partner Specializing in ► Automotive Sales ► Dealership Management ► Consumer Affairs ► Finance & Insurance ► Warranty Administration
In an interview with Shelley Hulgrave of the Penske Group, insights were shared on the dealer's role in the agency model in England. In contrast to the US model, where individuals buy and price inventory themselves, the English model streamlines the consumer process. By accessing the entire Mercedes market inventory online, customers can find vehicles priced at either 100 pounds or 200 pounds per month, offering a fixed pricing structure. This shift provides a more extensive range of options for consumers, eliminating the need to visit multiple dealerships physically. #AutomotiveIndustry #DealerModel #PricingStrategy #MercedesMarket
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• Bryan DeBoer said: Auto Dealership Group's wish to someday reach $2 in earnings per share per $1 billion in revenue. • Lithia downplays $50B 2025 revenue target, stresses earnings per share growth. February 22, 2024 US Medford, Oregon, A.R.I. Lithia Motors Inc. CEO Bryan DeBoer is downplaying his company's goal to reach $50 billion in revenue by the end of 2025 amid high dealership acquisition prices. He said the auto retail giant is focused more on an earnings per share benchmark. During the fourth quarter 2023 earnings conference call, Bryan DeBoer, President and CEO of the company, emphasized the increase spurred by new cars and after-sales services. Lithia Motors anticipates a decline in gross profit per unit (GPU) for new vehicles into 2024, despite achieving success. Moreover, the company’s current priorities are to increase profitability, broaden its range of client solutions, and hit its $50 billion short-term revenue goal. Lithia Motors is steadfast in pursuing a $50 billion revenue target, underlining its ambitious financial goal. To achieve this, the company is strategically working towards lowering SG&A to below 50% of gross profit, emphasizing a commitment to fiscal responsibility. “Our financial position, combined with the diversity and reach of our network and complementary adjacencies, positions us to continue to drive results positively and return capital to our shareholders, providing a distinctive growth strategy,” DeBoer said #Lithia #automotive #retail
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Principal, Omni-Channel Automotive Solutions. Seeking consulting/contract opportunities in evolutionary leadership roles - OEM, Retail, Fixed/Variable, Operations, SaaS, Business Development, Financial, Supplier, Other.
Not a surprise. Economic headwinds, high interest rates and significantly more inventory/competition (decreases in GP PNVR/PUVR) are all contributing factors. Dealership acquisition costs are also a factor to consider. Check out the article to see who did what in Q1 for Lithia & Driveway, AutoNation, Penske Automotive Group, Asbury Automotive Group, Group1 Auto and Sonic Automotive. Back to basics but also, consideration of one-person point of contact, none-negotiable pricing? Hint....it works IF consultants are trained properly and a uniform process in place. Even F&I GP PVR can increase :) #automotive #automotiveindustry #sales #innovation #ecommerce #branding #ai #ev #electricvehicles #technology #business #leadership #disruptor
Public auto dealership groups challenged by inflation, lower profit per vehicle
autonews.com
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Asbury Automotive Group Inc. Q4 Profit Decreases, misses estimates: Asbury Automotive Group Inc. (ABG) released earnings … fourth quarter. Excluding items, Asbury Automotive Group Inc. reported adjusted earnings … .71 billion last year. Asbury Automotive Group Inc. earnings at a … #car #cars #awesome
Asbury Automotive Group Inc. Q4 Profit Decreases, misses estimates
rttnews.com
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GM Sets Course for 2024: Positive Signs for North American Dealerships General Motors (GM) recently released its financial results for the fourth quarter, showcasing strong performance that surpassed Wall Street expectations. The company reported Q4 revenue of $42.98 billion, a notable increase over the projected $38.67 billion. This revenue boost contributed to an earnings per share (EPS) of $1.24, beating the expected $1.16. For the entire year, GM achieved a revenue of $171.8 billion InvestorPlace. Looking forward to 2024, GM has set a promising financial outlook. They project a net income range of $9.8 billion to $11.2 billion, indicating a strong profitability potential. Additionally, they forecast an adjusted EBIT (earnings before interest and taxes) between $12 billion and $14 billion, reflecting a healthy operational performance. The expected EPS ranges from $8.50 to $9.50. General Motors's financial strength and strategic projections for the upcoming year present a promising business landscape for North American dealerships and the captive arm. The financial results and forecasts indicate a steadfast commitment to growth and adaptation in a challenging market, which bodes well for dealership owners and industry leaders regarding vehicle sales and potential financing options through GM's financial services arm. #GM #Auto #Earnings
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Penske Automotive Group, Inc. (NYSE:PAG) Q1 2024 Earnings Call Transcript: … turn the attention to automotive operations. During the quarter … Same-store retail rev — automotive revenue increased 1%. However, … experience in the retail automotive industry to drive … our diversification across retail automotive, commercial truck, cost … #car #cars #awesome
Penske Automotive Group, Inc. (NYSE:PAG) Q1 2024 Earnings Call Transcript
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Are you preparing for the future in automotive? What foundation are you laying today to help prepare your dealership for the next shift in selling cars? The good news is you still have time to be the leader in your market area.
Carvana posts first-ever annual profit after it cuts debt, shares surge
cnbc.com
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Dealership valuations have changed and it's not about the multiple. Take a look at our new blog we posted on valuations in the new retail automotive landscape. Read the full blog post: https://bit.ly/3BwLw60 https://lnkd.in/e9NUc6pb
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Used stock funding must match retailer dynamics Discover the critical importance of aligning used stock funding with retailer dynamics in the latest article in Bulletin from Auto Retail Network by Chris Rowthorn is director of motor sales operations at MotoNovo Finance Chris' insightful piece explores the nuances of securing funding solutions that cater to the unique needs and operational dynamics of automotive retailers. As the automotive industry evolves, so do the strategies for financing used vehicle stock. This bulletin dives deep into the challenges and opportunities retailers face in ensuring that their funding solutions are aligned with their business objectives. Stay ahead of the curve by exploring the story here: https://bit.ly/3vrh5vH Gain valuable insights to inform your decisions and drive success in navigating the complexities of used vehicle stock funding.🚗💼 #UsedStockFunding #BusinessStrategy #AutoRetail #MarketingStrategies #AutomotiveInsights #IndustryInsights #dealership #automotiveindustry #automotive #newcars #usedcars #cardealers #oldercars #IndustryNews #Marketing #UsedCarMarket
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Principal, Omni-Channel Automotive Solutions. Seeking consulting/contract opportunities in evolutionary leadership roles - OEM, Retail, Fixed/Variable, Operations, SaaS, Business Development, Financial, Supplier, Other.
EGADS!! Could see this coming :) Cox Automotive Inc..... 2,837,400 in its latest estimate, a 74-day supply, up slightly from the previous month. A year earlier, it was 1.9 million vehicles, a 35 percent year-over-year increase. 74 days is simply too high, further exacerbating dealership operating expenses due to high floor plan interest costs, along with much heavier incentives. Interesting to note that Toyota Motor Corporation and Lexus have the second lowest days supply (All OEMs do not report...Porsche AG has very low inventory), providing their dealers with a balanced inventory, higher grosses and reduced incentives. Once again Toyota leads the pack :) Is it any wonder Toyota and Lexus franchises retain the highest blue-sky valuations in the industry. Cadillac, Lincoln Motor Company, JLR, INFINITI Motor Company, Acura take note. Ford Motor Company, General Motors, Stellantis, Volkswagen Group #automotive #automotiveindustry #sales #innovation #ecommerce #branding #ai #ev #electricvehicles #technology #business #leadership #disruptor
Inventory climbs above 2.8 million, highest since December 2020
autonews.com
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