CarGurus shares surge 72% in Wall Street debut; online firm raises $150 million
Shares of CarGurus, an online marketplace connecting car buyers and sellers, jumped 72 percent in their market debut after the company raised $150 million from the stock offering.
Toyota seeking to halve Japan car models as domestic market shrinks, report says
Toyota is aiming to halve the number of car models it sells at home by 2025, a person briefed on the matter told Reuters.
NADA's Scarpelli says stair-step programs can damage brands
Automakers' use of stair-step incentive programs could hurt consumer loyalty and weaken demand for the brand, said NADA Chairman Mark Scarpelli.
Porsche launches subscription pilot in Atlanta
Drivers in Atlanta can subscribe to drive a Porsche as part of a pilot program beginning in November. Porsche Passport will give members flexible access to Porsche's sports cars and other vehicles.
Autobytel changes name to AutoWeb
Autobytel will change its name to AutoWeb, and the company's stock ticker symbol will switch to "AUTO" from "ABTL."
Puerto Rico's love of cars is stalling its recovery
Puerto Rico is a place where you need a car, and residents are isolated without one. Getting gasoline for any purpose remains a challenge as fallen debris blocks roads, hampering deliveries.
Supreme Court to rehear service advisers' overtime pay dispute
The Supreme Court will hear, for the second time, oral arguments in a case about whether service advisers at car dealerships are eligible for overtime pay.
Mechanics' union encouraged by new contract with Chicago-area dealerships
The union representing Chicago-area mechanics is encouraged by its new contract with local dealerships. The contract, signed Sunday, ended a seven-week strike.
KAR, ADESA's parent, plans new HQ
KAR Auction Services plans a new $80 million headquarters two miles south of its current headquarters in Carmel, Ind.
Dealers wait for power, people to return after Irma
In the aftermath of Hurricane Irma, Florida dealers are scrambling to assess damage and reopen. But first they need to find their employees.
Irma forces dealerships, ports to close
Tropical storm Irma swung further west than expected but still hammered the auto industry in the Southeast, cutting power and closing ports. Some Florida dealers plan to reopen Tuesday.
AutoNation braces for Irma as storm poses threat of 1-2 punch
AutoNation held its first meeting Tuesday to begin preparations for Hurricane Irma as cleanup from Hurricane Harvey begins in Houston.
Houston dealers assess damage
Virgil Skinner, past chairman of the Houston dealers association, laid out what he expects his peers to do in the next few days. The message he is sending is that the post-Harvey recovery will be tedious and painful, but vital. "It's going to take the better part of a week for dealers to actually get into their stores, assess the damage and come up with a plan to get back in business," Skinner said. "Not just for themselves but especially for the employees."
Ike's lessons helped Ford dealership cope
Planet Ford Spring, north of Houston, learned its lessons when Hurricane Ike hit in 2008. Here's how the family owned dealership is coping this time.
Volvo, Chrysler offer spiffs through Costco
Costco has launched incentive programs with Volvo and Chrysler that go beyond its usual discounts offered to the warehouse club's members.
Flooded dealerships, lost inventories, hard-hit workers: 'Overall, it's catastrophic. Major damage.'
Following Hurricane Harvey's torrential rains, dealers in southeast Texas braced for a second wave of rain that could produce more losses.
Millennials moving to the 'burbs, buying big SUVs
Millennials are finally starting their own baby boom and heading for the suburbs in big SUVs, much like their parents did.
Asbury's Q2 net drops 13% to $32 million
Asbury Automotive's second-quarter net income dropped 13 percent to $31.9 million on lower profit margins per new and used vehicles sold.
Consumer loyalty for SUVs, crossovers hits new high, study says
IHS Markit says a record two-thirds of SUV and crossover owners who returned to the market in the first four months of 2017 purchased another new SUV or crossover.
Dutch company buys into indiGO Auto Group
IndiGO Auto Group is positioning itself to be a player in the mobility world via an investment from Dutch transportation company Pon Holdings.
Incentives continue to march higher as U.S. sales stall
Automakers are steadily increasing incentive spending as U.S. light-vehicle sales continue to slow heading into the second half of 2017.