More buy-sell moves as well as fundraising activities involving dealerships surfaced on Friday. Beginning first with more actions connected to mergers and acquisitions, Haig Partners was the exclusive sell-side advisor to the McDermott Auto Group on the sale of David McDermott Lexus and Dave McDermott Chevrolet located outside New Haven, Conn. According to a news […] [Read More]

Ford is giving its online used-vehicle marketplace an upgrade, adding a 14-day/1,000-mile money-back guarantee to the Ford Blue Advantage platform. In a news release Thursday, Ford called the new guarantee the “best offered from full-line automakers and its dealers” with an aim to provide a better experience for the customer and stand out in a […] [Read More]

Carvana has added its 312th market, announcing Wednesday that its home delivery is now available in the Cape Girardeau area of Missouri. The company launched in Joplin and Springfield back in September, bringing its market count in the state to six, at that time. “Today’s launch in Cape Girardeau offers even more residents in Missouri an […] [Read More]

Tom Staszak, who is senior managing director of mergers & acquisitions at Generational Equity, joins the Auto Remarketing Podcast to talk about the rise in dealership buy-sell activity. In this episode, we discuss the drivers of that M&A growth, why it makes sense for some stores to exit, and moves in the auto industry at large. […] [Read More]

CARFAX announced Tuesday it has launched the CARFAX Lifetime Dealer program, which allows participating dealers to show consumers their respective stores are providing “full access to CARFAX products whether they’re buying, servicing, or trading in their used car.” In other words, a mark of distinction for the dealers providing such services throughout the used-car lifecycle. […] [Read More]

Separate announcements from DCG Acquisitions, part of the Dave Cantin Group (DCG), and Haig Partners detailed how a dealer group in the Northwest as well as another one in the Southeast each became bigger this week. DCG represented both parties in the larger of the two newest developments, as the Gee Automotive Companies — among […] [Read More]

Sonic Automotive said Tuesday it has purchased Sun Chevrolet in Chittenango, N.Y., following its acquisition of three Used Car King pre-owned stores from same group back in December 2020. Joe Caputo founded Sun Chevrolet in 1979. He and son Todd Caputo ran that store along with the three used-car standalone stores in Central New York. […] [Read More]

The final numbers have been tallied, and it turns out that last year’s certified pre-owned sales fell short of the record high by just over 2%. That’s according to a Data Point report from Cox Automotive, citing an analysis of Motor Intelligence data.  There were 2,748,164 certified sales in 2021, which beat prior-year figures by […] [Read More]

Michael Strahan was perhaps the NFL’s most dominating defensive player of the 2000s. He’s a Super Bowl winner and a Pro Football Hall of Famer. But he’s also Renaissance man. These days, Strahan juggles the tasks of journalist, broadcaster, host/entertainer and businessman. While they might not have any sack records like Strahan — who is […] [Read More]

Former AutoNation executive and current Maroone USA founder and chief executive officer Mike Maroone is taking home the hardware as the 2022 David F. Mungenast Lifetime Achievement Award winner. The board of the American International Automobile Dealers Association presents the award each year to “an industry leader who possesses a similar community spirit and devotion […] [Read More]