industry

Zacks Industry Outlook Highlights Lithia Motors, Penske Automotive, AutoNation, Group 1 Automotive and Sonic Automotive

By Betty C. Morrow 3 months ago

For Immediate Release

Chicago, IL – March 3, 2022 – Today, Zacks Equity Research discusses Lithia Motors LAD, Penske Automotive PAG, AutoNation (AN), Group 1 Automotive (GPI) and Sonic Automotive SAH.

Industry: Auto Retail

Link: https://www.zacks.com/commentary/1875733/5-stocks-to-tap-the-continued-strength-in-auto-retail-industry

The Zacks Auto Retail and Whole Sales industry is on a roll, thanks to robust vehicle demand and high average prices of both new and used cars. The race to invest vast sums in the e-commerce domain is gathering steam, propelling businesses to reach new heights. Digitization is paying off.

Auto retailers are on a buyout binge for scale expansion and commercial synergies. Industry participants including Lithia Motors, Penske Automotive, AutoNation, Group 1 Automotive and Sonic Automotive are registering impressive profits, with near-term prospects remaining bright.

Industry Overview

The automotive sector’s performance depends on its retail and wholesale network. Through dealership and retail chains, companies in the Zacks Auto Retail and

… Read More

Car Industry Calls For “Binding Targets” In Charge Point Rollout

By Betty C. Morrow 3 months ago

A leading UK automotive industry body has called for “binding targets” for the rollout of electric car charging infrastructure. The Society of Motor Manufacturers and Traders (SMMT) said the targets should form part of a seven-point plan to ensure electric vehicle (EV) infrastructure is good enough to encourage drivers to go electric.

As part of the plan, the SMMT said there should be “mandated targets” for infrastructure rollout, backed by an independent regulator “to keep consumers at the heart of planning”. The organisation, which represents car makers and dealers, said public chargers are “critical to consumer confidence” and vital to the third of British households that do not have designated off-street parking.

While the SMMT acknowledges the growth in the network, which has increased by 3,000 percent since 2011, the SMMT says charging infrastructure has “struggled to keep pace” with increases in demand for electric cars. The organisation says there

… Read More

10 Questions: BMW dealer from Napa thrives on ‘challenging’ industry | Business

By Betty C. Morrow 3 months ago

Hal Logan admitted that before he got into the automotive industry, “I never thought about being in the car business.”

After working in the publishing and media fields for many years, Logan went on to help build what would become AutoTrader.com.

“Once I began to learn about the challenges and opportunities in the auto industry, I was hooked,” said Logan.

About seven months ago Logan (who lives in Napa) opened the new BMW dealership in Fairfield.

“It is a truly fascinating business, intellectually and emotionally, (with) challenges that have engaged me for 20-plus years,” said the business owner. 

Support local news coverage and the people who report it by subscribing to the Napa Valley Register. 

1. What was your first job?

Reporter at The Washington Post, in Washington, DC. I got there as a summer intern between my junior and senior years of college. I showed up two weeks

… Read More

David Michery Shares Vision for Mullen Automotive on Industry Leading Podcast

By Betty C. Morrow 4 months ago

BREA, Calif., Feb. 08, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces a recently aired interview highlight conducted between Mark Greene from Cars Yeah Podcast and David Michery, CEO and chairman of Mullen Automotive. Cars Yeah is an industry leading, automotive-centric podcast recognized by the Dupont Registry that features one-to-one interviews with entrepreneurs and leaders in the automotive industry.  In total, Mark has interviewed over 2,000 Inspiring Automotive Enthusiasts™.

“I had a great conversation with Mark from Cars Yeah Podcast, discussing the holistic EV infrastructure we are working on building to ensure a bright future for Mullen Automotive and the FIVE EV Crossover. It was a wonderful experience being featured on Cars Yeah and I’m delighted that listeners had this opportunity to learn more about our company, what makes us tick and about

… Read More