The first car that Carvana ever sold was in Georgia, and now the online retailer has opened a new campus in the state’s capital. Carvana’s new Atlanta facility, which officially launched Tuesday, currently employs 1,500 team members in the state. The company plans to add 3,500 more jobs in the area in coming years. Atlanta […] [Read More]

EchoPark Automotive has its first-ever chief operating officer. Parent company Sonic Automotive said Thursday that it has promoted Tim Keen to the position, where he will focus solely on expanding the line of used-car stores nationally. Keen was most recently executive vice president of operations for both Sonic and EchoPark, a role he had held […] [Read More]

LMP Automotive Holdings said Wednesday that its board has approved the company exploring strategic alternatives, including the option of selling the company. In a news release, LMP also said it plans on ending all of its pending purchases. “The company intends to terminate all of its pending acquisitions in accordance with the terms of their […] [Read More]

Motormindz, Inc. said Tuesday it has named former CDK Global and AutoNation executive Ron Frey as a strategic advisor to its board. Frey is the founder of RL Frey Inc. “Ron’s ability to develop, operationalize, and drive key strategic priorities will be vital as we continue to navigate rapid growth on a global scale,” motormindz […] [Read More]

Market conditions in the early days of 2022 aren’t exactly ideal for certified pre-owned vehicle sales. Off-lease vehicles, a primary source of CPO inventory, are slim pickings, and the combination of high acquisition and certification costs vehicles makes it a pricier option for many dealers. That’s according to Friday's Data Point report from Cox Automotive, which said […] [Read More]

In the spirIt of Valentine's Day, CARFAX is starting the week by “showing its love” for its dealer partners and recognizing its third annual CARFAX Top-Rated Dealers, a program that spotlights stores with best customer reviews. The average ratings score for these stores is 4.6 out of 5. “CARFAX has nearly 3.3 million verified customer […] [Read More]

Monday’s dealer roundup includes the growth of a 3-year-old California group along with the latest charity efforts of an Atlanta-area group in business since the early 1970s. Beginning first in the Golden State, Hello Auto Group announced it has opened a new Mazda dealership in San Diego’s Kearny Mesa community. The dealership and service center […] [Read More]

Another busy week of dealership activities unfolded with an acquisition involving seven franchises, a dealer association rolling out its annual effort to help college students as well as another large dealer group raising $100,000 for two dozen charities. Let’s begin with the latest M&A move involving Haig Partners, which was the exclusive sell-side advisor to […] [Read More]

The dealership acquisition and philanthropic activities continued on Tuesday, as separate news releases highlighted the newest developments in western Michigan and southern California. Let’s begin first with the M&A moves involving Kerrigan Advisors, which represented Hitchcock Automotive in its sale of three high-volume Toyota dealerships in southern California.  According to a news release, Kerrigan helped […] [Read More]

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]