CarLotz is closing 11 of its hubs and three planned locations will not open, the company said Tuesday. The closure of these dealership stores was set to begin Tuesday, with the aim of completing the closures by July 8. The resulting workforce reduction would be an estimated 25% to 30%, CarLotz said. “While decisions that […] [Read More]

Auto Remarketing is proud to celebrate our annual Women in Retail awards, a program sponsored by CarGurus. With these awards, we specifically recognize top leaders on the retail side of the auto industry, including honorees from dealerships, dealer groups and third-party providers/vendors. Honorees will be recognized in the upcoming July issue of Auto Remarketing and […] [Read More]

We go out West for this round of dealership M&A. Starting in Washington state, the Bud Clary Auto Group has purchased Auburn Volkswagen from Matt Welch, who acquired the dealership in 2006. The news was shared in a release from Performance Brokerage Services, which facilitated the sale. The family-owned Bud Clary Auto Group was founded […] [Read More]

Van Horn Automotive Group has launched an online used-car buying platform called CloudLot that allows consumers to conduct all car-buying steps from selecting a vehicle to scheduling delivery completely online. The platform, which is available at ShopCloudLot.com, is powered by Cox Automotive’ Esntial Commerce technology. “As Wisconsin’s only employee-owned auto group, we will continue to […] [Read More]

Fuccillo Automotive Group has sold its Fuccillo Kia of Clermont dealership in the Orlando, Fla.-area to Florida-based Morgan Automotive Group, according to a news release from Kerrigan Advisors, which represented Fuccillo in the sale. Morgan Automotive Group has 53 Florida dealerships throughout Tampa, Gainesville, Ocala, Lake City, Jacksonville, Sarasota, Naples, Fort Myers, Brandon, New Port […] [Read More]

While the overall number of vehicles in operation with an open recall is down almost 6% from 2021, new CARFAX data shows more than 50 million vehicles on U.S. roads today are being driven with a known issue that should be repaired. According to a news release distributed on Tuesday, CARFAX data also indicated that […] [Read More]

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Jensen-Wood Chrysler Dodge Jeep Ram of Montpelier, Idaho, has been sold to Casey Wheeler, who recently launched his own dealership group and is expanding, according to a news release from Performance Brokerage Services, which advised sellers Kirk and Lorrie Jensen. The latter have been third-generation owners of the store since 2000 and are retiring. Kirk […] [Read More]

Dave Cantin Group, an automotive M&A firm, made a series of leadership moves on Wednesday. The company named Brian Brown as president of DCG Acquisitions, the company’s primary M&A arm; George Pero as national vice president of sales for DCG; and Brian Traugott as national vice president of operations for DCG. Brown joined DCG in […] [Read More]

The NYE Group has sold its six dealerships in upstate New York to Atlantic Coast Automotive Group, according to a news release from the Tim Lamb Group, which brokered the sale. Harold Nye founded NYE Group in 1968, and his son William Nye has helmed the group since 1998. The transaction closed May 24. “The […] [Read More]