Houston’s Vaughan Automotive has acquired the former Larry H. Miller Toyota of Lemon Grove, expanding into the Golden State as Asbury Automotive parts with its last California store. +
Regulators will no longer pursue discriminatory pricing charges against three Texas dealerships owned by Asbury Automotive following an executive order challenging the legal theory of disparate impact. +
Group 1 Automotive reported a 5% increase in F&I profit per vehicle in the first quarter, leading the six biggest publicly traded U.S. auto groups, five of which reported year-over-year gains. +
Herb Chambers will pay $11.8 million to settle allegations that eight of his companies improperly obtained federal COVID-19 relief funds. Executives and attorneys blamed confusion over shifting guidelines. +
The “Big 6” publicly traded U.S. auto dealer groups are growing in size, sales and profitability as they hold onto the top positions in Automotive News’s annual ranking of the Top 150 Dealership Groups. +
Five of the Big 6 publicly traded dealer groups are generating at least $2,000 in F&I gross profit per vehicle retailed, according to the latest quarterly report from Automotive News. +
Herb Chambers has sold his network of Massachusetts and Rhode Island dealerships and collision centers to Asbury Automotive Group in a blockbuster, $1.34 billion deal that puts Asbury in the New England market for the first time. +
