Car-Buying Frenzy Lifts AutoNation to 1Q Beat

By Matthew Rocco AutoNation (AN), the largest U.S. chain of auto dealers, recorded better-than-expected earnings for the first quarter as Americans continued to scoop up cars and trucks. The company booked a profit of $111.5 million, or 97 cents a share. That reflects 17% growth compared to earnings of $96 million, or 79 cents a share, in the same period a year earlier. Revenue expanded 13% to $4.94 billion, driven by new and used vehicles. Retail sales of new cars rose 10%, and used cars were up 12%. Analysts were looking for smaller...

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The Gap Between Auto Dealers and Social Media

By: VINDU GOEL Matt Howell, the general manager of a Hyundai dealership in Huntsville, Tex., has been in the auto business for 18 years. In all that time, he said, “I can think of one deal that originated on Facebook.” In January, marketing managers at Hyundai’s American headquarters in Southern California persuaded Mr. Howell to give social media a more serious try. They asked him to use new software to post videos, photos and text updates suggested by the company on Facebook, Twitter and other social networks. Two months into his social...

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Tesla free to sell cars in New Jersey as Christie signs bill

By: Autonews TRENTON, N.J. (Bloomberg) -- Tesla Motors Inc. will be allowed to sell its electric cars straight to consumers in New Jersey, after Republican Gov. Chris Christie signed a bill overhauling the state’s dealership laws. Christie on Wednesday said he signed legislation allowing direct sales by manufacturers of zero-emissions vehicles. The law requires Tesla to maintain a service center in the state where consumers can have their cars fixed. The governor previously said he would sign such a bill. The measure caps a yearlong struggle...

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TrueCar Dealer Enrollment Hits All Time High

By: Auto Dealer Monthly Third-party lead provider TrueCar added 840 net franchise and independent dealers in the first quarter of 2015, the biggest-ever volume gain in company history. TrueCar's Certified Dealer network totaled a best ever 10,680 franchise and independent dealer partners at the end of the quarter, up 38% from a year ago, officials said. Active franchise dealers increased by 607 — the most for a single quarter — while the number of active independent dealers grew by 233. There were a total of 9,108 active franchise dealers as...

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