Tag: auto dealer news
Group 1 brings three new dealerships on board, expands Texas presence
Group 1 Automotive revealed the acquisition of three dealerships in Texas on May 8, 2023, as it continues to ramp up its growth efforts.
In...
Federal Reserve raises interest rates, says economy is ‘closer’ to end...
Although May 3 saw interest rates rise for the tenth time since March 2022, the Federal Reserve has seemingly adopted a new stance on...
Tesla hikes prices globally after several price cuts in Q1
After lowering the cost of its best-selling models several times since the beginning of the year, Tesla revealed that it had increased its prices...
Car owners less satisfied with aftermarket service providers
The J.D. Power 2023 U.S. Aftermarket Service Index (ASI) Study revealed that overall satisfaction declined year over year in the study’s three segments: quick...
Do manufacturers actually want to replace the franchise system? – Don...
Dealers are increasingly worried that the franchise system is under attack from major OEM brands, who may stand to gain more from a direct-sales...
New interest rate hike likely for May, but relief may still...
The Federal Reserve is set to deliberate another interest rate hike starting May 2 after inflation edged upward once more.
The increase would bring the...
Mercedes-Benz sees revenue, earnings increase despite Russian exit
In its first-quarter financial report released on April 28, Mercedes-Benz reported substantial growth thanks across its automotive segments but noted that economic conditions remained uncertain.
According...
Latest trends in auto retail: what Q1 tells us about 2023...
Automotive retailers are reporting solid results from the first quarter, but will the favorable conditions carry over into the summer? On this edition of...
Toyota crosses reduced production target, but stays quiet on new guidance
Toyota passed its fiscal-year production target of 9.1 million vehicles in March, but spoke cautiously on the year ahead.
On April 27, The automaker revealed...
Group 1 Automotive beats Q1 revenue forecast, but sees net income...
Group 1 Automotive reported a revenue of $4.13 billion for the first quarter, beating forecasts and setting a new record for the period.
A Zacks...
