Dealer group news: Sonic's new chief marketing officer & more
Tuesday, Apr. 30, 2024, 03:43 PM
CarMax FY2024 results dragged down by affordability and other headwinds, said CEO
Tuesday, Apr. 30, 2024, 03:04 PM
Carsharing marketplace Getaround secures up to $50M in financing
Wednesday, May. 1, 2024, 02:37 PM
Retail
Dealer news: Group 1 upsizes credit facility; Don Jacobs adds Acura store
Wednesday, May. 1, 2024, 04:42 PM
Auto Remarketing Staff
Group 1 Automotive has completed a $500 million increase in its revolving syndicated credit facility. The giant dealer group, which owns and operates 203 dealerships in the U.S. and U.K., now has a total credit facility of $2.5 billion with 20 financial institutions that will expire in March 2027 and can be expanded to $3 […] [Read More]
CARFAX Car Listings approved for GM’s iMR Turnkey program
Tuesday, Apr. 30, 2024, 01:21 PM
Auto Remarketing Staff
CARFAX has earned GM’s seal of approval. The company announced its CARFAX Car Listings has been approved by General Motors for its in-Market Retail Turnkey program. CARFAX said the designation means GM dealers, which includes the Chevrolet, Buick, GMC and Cadillac brands, can now use iMR Turnkey for CARFAX Car Listings. In a news release, […] [Read More]
Dealer news roundup: Moves involving Asbury, Victory & Fifth Wave
Monday, Apr. 22, 2024, 02:59 PM
Auto Remarketing Staff
The dealership news roundup involves activities at Asbury Automotive Group, Victory Automotive Group and Fifth Wave Automotive Group. According to a news release from Tim Lamb Group, the firm brokered the sale of Folsom Lake Chrysler Dodge Jeep Ram in Folsom, Calif., earlier this month back to its original owner, Fifth Wave Automotive Group. Tim […] [Read More]
CarMax to reduce window for money-back guarantee
Friday, Apr. 19, 2024, 01:43 PM
Auto Remarketing Staff
CarMax is reducing the timeline on its money-back guarantee policy from 30 days to 10 days, starting May 12, the used-car retailer said in a statement. The guarantee had been seven days, but CarMax extended it to 30 in January 2021, amid COVID-19 as “buying behaviors changed and consumers were spending more time online and […] [Read More]
Beyond the Transaction: From assigning best tech for job to detecting cracks in exterior, AI is changing service department
Tuesday, Apr. 16, 2024, 03:46 PM
Alysha Webb, Correspondent
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. Artificial intelligence is popping up everywhere these days and the dealership service department is no different. From assigning a technician with the right […] [Read More]
Beyond the Transaction: Service lane video use is growing, boosting profits & customer satisfaction
Tuesday, Apr. 16, 2024, 12:43 PM
Alysha Webb, Correspondent
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.
It is available for Cherokee Media Group Premium subscribers now.
When Rich Allen started his job as general manager of Jaguar Land Rover Cincinnati in late 2022, he introduced using videos in the service lane, a practice that had been successful in his previous job. The owner of JLR Cincinnati was skeptical at first, said Allen. That skepticism was short-lived.
“He thought it was cheesy,” Allen told Auto Remarketing. “Now he gets stopped when at the club all the time with people complimenting him on the tech video.”
Using videos in the service lane is growing fast as new ways to utilize the videos emerge. It is helping dealerships earn customers’ trust more quickly and boosting service lane profits ... [Read More]
Dealer news: Group 1 expands in UK, Fisker adds dealerships in Florida & Europe
Monday, Apr. 15, 2024, 12:16 PM
Auto Remarketing Staff
Group 1 is expanding its presence in the U.K., announcing Monday it has agreed to acquire the car dealerships and related real estate of an Inchcape plc subsidiary for approximately $439 million in cash. The deal, which must be approved from the Financial Conduct Authority, is expected to close in the third quarter. The Inchcape […] [Read More]