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It’s a sparkling-fresh new month as May rolls in with lots of optimism and opportunities. Today we talk about the shifting landscape at the front of the pack in Retail Auto as big players have been making big moves. We also talk about this month's Auto Intel Report by Steve Greenfield as well as update you on a crypto move we reported on regarding Nike months ago.
Lithia (#2 in 2021) overtakes Autonation (#1) in Q1 sales indicating a potential change on the podium
- 64,942 v 56,442
- Lithia’s acquisition strategy has been more aggressive marked by close of 34 store Suburban Group
- Asbury (currently #5) is also poised to overtake Penske (#3) this year due to its own aggressive acquisition strategy.
- Adjusted 2025 revenue target from $20B to 32B
- Last week reported 39,174 vehicles sold in Q1 +44% YoY
- #5 Group 1 Reported 29,498
- #3 Penske estimates are around 30k units sold
- Steve Greenfield’s Auto Intel Report: It’s a good time to be an auto dealer
- 2021 most profitable year ever, 2022 tracking to be 15-35% better, but there is change ahead as inventory levels regulate and business dynamics shift like never before
- Lithia Motors CEO Bryan DeBoer "In the first quarter, over 97% of Driveway transactions were incremental with consumers we had never transacted with in the past 15 years and the average shipping distance of approximately 920 miles. Amidst this growth, our average Google review was 4.6 stars, , driven by our focus on building the business sustainably and earning consumer trust for the entire vehicle ownership life cycle."
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Nike releases first NFT RTFKT sneaker drop with some prices already in 6 figures: Nike Dunk Genesis Cryptokicks
- 20,000 sold with different levels of rarity
- Inspired by the Nike Dunk Low and was released through the MNLTH NFT cube. Owners of the cube were tasked with completing challenges that were posted by RTKFT on various platforms including Twitter and Discord and upon completion, the RTFKT x Nike Dunk Genesis was unlocked. Also included in the MNLTH NFT cube was a special skin vial that allows fans to customize their virtual shoe.
- One extremely rare Alien skin vial has sold for 449,000
Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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