The retailer said its store leases, inventory and related assets in Richmond, Va.; Charlottesville, Va.; and Tampa, Fla., will "be assumed by a local dealership group." It did not disclose the name of the group.

Asbury's sale of nine North Carolina dealerships in the fourth quarter also was partly agreed to in anticipation of the unconsummated acquisition.

Sony Honda Mobility wants to challenge the status quo in automaking. That could mean its cars end up with Honda dealers' competitors.

Retail sales of new light vehicles in China slipped 35 percent in January from a year earlier because of the COVID pandemic, lack of incentives and fewer working days, the China Automobile Dealers Association estimates. 

Porsche will prioritize meeting demand for performance variants, such as the GT and GTS, across the lineup.

"Inflation has eased somewhat but remains elevated," the U.S. central bank said in a statement that marked an explicit acknowledgement of the progress made in lowering the pace of price increases from the 40-year highs hit last year.

Go Auto of Edmonton, Alberta, said it has acquired a joint Toyota and Mercedes-Benz dealership near Seattle in Bellingham, Wash.

Staffing issues continue to plague service and parts departments, but managers are confident of another profitable year.

A goal of the Women Driving Retail video contest is to encourage more women to consider a career working at auto dealerships.

Credit Acceptance Corp.'s auto loan volume from dealerships rose 26 percent during the fourth quarter.