Latest Online Edition Read Here

UCN Interview with Derek Hansen Vice President of Digital Inventory Solutions, ‎Cox Automotive Inc.

America’s Car-Mart Moves Fewer Units

America’s Car-Mart Moves Fewer Units Featured

America’s Car-Mart Inc. reported net income of $7.1 million in the quarter ended July 31.The buy-here, pay-here chain reported revenues of $146 million compared to $143 million for the prior year quarter.Retail unit sales decreased to 11,957 from 12,244 for the prior year quarter with decreased productivity at 27.9 retail units sold per store per month, down from 28.9 for the prior year quarter.  Average retail sales price increased $428 to $10,393 from the prior year quarter, but decreased $248 from the quarter ending April 30.
Last modified on Wednesday, 31 August 2016 16:57
Rate this item
(0 votes)

Related items

  • Classic Car Auction Introduces App
    Hagerty launched a free app to help collector car auction-goers research and track vehicles they’re interested in. The Hagerty Insider app, available initially on iOS, will include auction run lists, published pre-sale estimates, past sales data of similar cars, and Hagerty’s industry-leading valuation estimates. Soon after run lists become available, Hagerty Insider displays available vehicle details, including lot number, VIN, make, model, year, body style, and engine. Once a vehicle crosses the auction block, the app will update with the high bid amount and the sale/no sale status of the lot. The Hagerty Insider app is currently an auction tool but will expand to include other functions useful to the collector car enthusiast. The app will soon be available on the Android operating system.
  • Feds Charge Dealership Staff for Ad Scam
    Three people have been arrested for their roles in an alleged advertising scam at a Northern California car dealership.According to the indictment, from at least 2010 to 2016, Amir Bakhtiari orchestrated an embezzlement scheme at Sonnen Motorcars, a dealer group that owned and operated three car dealerships in Marin County - Sonnen Volkswagen, Audi Marin, and Porsche Marin.  From 2009 to 2016, Bakhtiari managed the Volkswagen and Audi dealerships.  Bakhtiari allegedly used his role to initiate a scheme wherein Sonnen made payments on fraudulent invoices to fake advertising vendors who then forwarded the majority of the proceeds from the scam back to Bakhtiari.  The indictment alleges that Arlette Casino, who served as Sonnen’s controller from 2013 to 2016, and Austin Caba, who controlled one of the fake advertising vendors, conspired with Bakhtiari and participated in the scheme since at least 2013. The indictment alleges that Bakhtiari directed approximately $6.3 million in fraudulent transfers from 2010 to 2016. When the money reached the vendor bank accounts, the individuals who controlled these accounts wrote checks back to Bakhtiari for a majority of the funds.  In total, Bakhtiari received approximately $3.6 million via checks in this manner.   According to the indictment, Bakhtiari and Casino also initiated other fraudulent payments to themselves, including bonuses that Bakhtiari falsely claimed were funded by the corporate offices of Volkswagen or Audi.  Bakhtiari and Casino approved the payment of these fraudulent bonuses, knowing they were not authorized by the majority owner of Sonnen Motorcars.  Bakhtiari, Casino, and Caba were all charged with conspiracy to commit wire fraud.  Bakhtiari and Caba were also charged with conspiracy to engage in monetary transactions in property derived from specified unlawful activity and engaging in monetary transactions in property derived from specified unlawful activity.
  • Ford Recalls Rangers for Passenger Air Bags

    Ford Motor Co. is recalling 2,700 2006 Ford Ranger trucks. 
Upon deployment of the passenger side frontal air bag, excessive internal pressure may cause the inflator to explode.
Ford will notify owners, instructing them not to drive their vehicles. Dealers will replace the passenger's frontal air bag inflator with an alternate inflator, free of charge. 
The recall was expected to begin Jan. 16. Ford's number for this recall is 18S02.
Copart Expands Texas Operation

Copart Expands Texas Operation

Copart Inc. has announced the purchase of the former Safe Tire Disposal Corp. facility at 11150 Applewhite Road, San Antonio, Texas, along with its intention to clear the 36-acre property...

Dealers Use In-House CRM to Drive Sales

Dealers Use In-House CRM to Drive Sales

Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have...

  • CarMax Moves into New Market
    CarMax Moves into New Market CarMax Inc. celebrated the grand opening of its first store in Michigan, located in Kentwood at 4431 28th Street. The Kentwood store will have the capacity to stock approximately 200…
  • DMS Incorporates Carfax
    DMS Incorporates Carfax Auto/Mate Dealership Systems has integrated its dealership management system with myCarfax Service Shop tools to help their dealer customers increase the success of their fixed operations. This enhancement makes it…
  • CarMax Opens Store in Northeast
    CarMax Opens Store in Northeast CarMax Inc. celebrated the grand opening of its new store in Albany, N.Y.The store is located at 1860 Central Ave. The Albany CarMax has the capacity to stock approximately 200…
  • CarMax Grows in California
    CarMax Grows in California CarMax Inc. is currently hiring more than 40 associates for the company's third store in the Bay Area of California. The store, scheduled to open in November, will be located…
  • CarMax Reports Higher Sales, Revenue
    CarMax Reports Higher Sales, Revenue CarMax Inc. reported higher sales and revenue for the second quarter ended Aug. 31. Net sales and operating revenues increased 2.9 percent to $4 billion. Used unit sales in comparable…
  • TV Host Takes Cheap Shot at Dealers
    TV Host Takes Cheap Shot at Dealers The latest attack on subprime automobile dealers came in the form of HBO’s satirical news/comedy show “Last Week Tonight with John Oliver” on Aug. 14. The 17–minute segment slammed the…

    Auto Lending: Last Week Tonight with John Oliver (HBO)
  • Carvana Moves into Midwest
    Carvana Moves into Midwest Carvana announced its expansion into Columbus, Ohio. This launch marks the company’s first market in the Midwest region and first in the state of Ohio. Columbus marks Carvana’s seventh new…
  • Carvana Partners with Credit Union
    Carvana Partners with Credit Union Carvana has partnered with LGE Community Credit Union. Through the partnership, LGE members can browse Carvana's online inventory of vehicles and purchase a car and have it delivered to them…
  • Dealers Use In-House CRM to Drive Sales
    Dealers Use In-House CRM to Drive Sales Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have…
  • America’s Car-Mart Moves Fewer Units
    America’s Car-Mart Moves Fewer Units America’s Car-Mart Inc. reported net income of $7.1 million in the quarter ended July 31.The buy-here, pay-here chain reported revenues of $146 million compared to $143 million for the prior…