Sonic Automotive News

“We know that the manufacturers are struggling. We know there are only a limited amount of points of sale. What are our options?”

A Carson city ordinance that has lasted at least three decades finally broke under the weight of the nation's slumping car market and resulting drop in municipal sales tax revenue. via Daily Breeze

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“Over the course of his 27-year career, Jeff Rachor has distinguished himself as one of the most reputable executives in the automotive retailing industry”

MSD Capital, L.P., the private investment firm for Michael Dell and his family, and automotive retail industry veteran Jeffrey C. Rachor today announced that they have joined together to form MSD Automotive ... via The Auto Channel

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B. Scott Smith - " President and Chief Strategic Officer David P. Cosper - "Chief Financial Officer and Vice Chairman Jeff Dyke - " Divisional Chief Operating Officer James D. Evans - " Divisional Chief ... via Seeking Alpha

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“We are relatively positive on Penske's ability to deliver”

Major U.S. auto retail groups on Tuesday posted quarterly results that underscore their mixed success in offsetting pressure from slumping new vehicle sales through sales of used cars, financing and service ... via Earth Times

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“To confront these challenges, we are continuing our strong focus on the higher-margin segments of our business - fixed operations, finance and insurance, and used vehicles.”

Business First of Columbus - Business First A company that runs a handful of car dealerships in Columbus on Tuesday reported a 29 percent drop in first-quarter profit amid softening in the new-vehicle market. via Bizjournals

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The Pep Boys -- Manny, Moe & Jack said Wednesday that CEO Jeff Rachor has left and will be replaced on an interim basis by Chief Operating Officer Mike Odell. via Philadelphia Business Journal

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Nine Charlotte-area corporations are on Fortune magazine's annual list of the top 500 U.S. companies, based on revenue last year. via Charlotte Business Journal

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A study commissioned by the developers of a proposed retail and residential complex in Bells Bend predicts the project will generate $64 million directly in annual tax revenues for Metro Nashville. via The Tennessean

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“I don't want to speak for Skipper, but more and more dealers are choosing to sell rather than invest in new facilities”

Charlotte Business Journal - by Ashley M. London Staff writer Sonic Automotive Inc. via Charlotte Business Journal

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Sonic Automotive Inc., a Charlotte, N.C.-based auto dealership company, has bought the Thoroughbred Motor Cars dealership on Franklin Road for $8.5 million, according to deeds filed Wednesday in Davidson ... via The Tennessean

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