After purchasing a minority stake in the company in early 2020, CarMax said Thursday it will acquire the remaining shares of Edmunds. The retailer invested $50 million in the online car shopping guide in January 2020, acquiring a minority stake. The deal for CarMax to acquire full ownership of Edmunds is expected to close in […] [Read More]

In its second acquisition-related move in less than a week, LMP Automotive Holdings said Tuesday it signed a definitive agreement to purchase 85% of both Central Avenue Chrysler Jeep and Chrysler Jeep of White Plains. Both stores are located in the New York metro area: the former is located in Yonkers, N.Y.; the latter in […] [Read More]

To recognize the dealers leading the certified pre-owned car business, the April issue of Auto Remarketing will feature our annual special section spotlighting "The Best CPO Dealers in the USA."  We reached out to automakers across the industry and requested their respective top 10 certified pre-owned dealer lists based on full-year 2020 sales. The full brand-by-brand CPO sales rankings […] [Read More]

Charles Fisher will join peer-to-peer car sharing marketplace, Turo, as its new chief financial officer. In his new post, Fisher will lead all aspects of Turo’s finance, investor relations and accounting functions. Fisher will also be responsible for financial operations and bringing profitable growth. Most recently, Fisher was with Charter Communications, serving in the role of […] [Read More]

Editor's note: Includes updated figure from Lithia on total acquired annualized revenues. Lithia Motors & Driveway has expanded its presence in the Southwest with the purchase of Avondale Nissan in Phoenix. The acquisition announced Tuesday would add $75 million in annualized revenue for the retailer. Lithia’s purchases since launching a five-year plan nine months ago […] [Read More]

Consignment-to-retail used-vehicle marketplace CarLotz has opened its first Tennessee hub, marking the ninth opening in the Southeast and its 11th nationwide. The new site adds to CarLotz hubs in Virginia, North Carolina, Florida, Illinois, Texas and Washington state. The Nashville-area hub is located at 1821 Gallatin Pike N. in Madison, Tenn. The Nashville opening comes […] [Read More]

Saying that its diverse board of directors is a competitive advantage, General Motors named technology leader Meg Whitman and National Basketball Association executive Mark Tatum to its board. The board appointment of Whitman, who is former head of Hewlett Packard Enterprise; and Tatum, who is deputy commissioner and chief operating officer of the NBA; are […] [Read More]

Carvana says it is known for its immersive, patented, 360-degree photo technology. Now the company has started a new program in which INDYCAR fans can use technology to vote for Jimmie Johnson’s Indy car paint scheme. Fans will also get the chance to get up close with Chip Ganassi Racing’s No. 48 Honda and virtually […] [Read More]

Through a new collaboration between Black Book and car buying platform Your Auto Advocate,  the platform will provide its members with Black Book data. The collaboration involves integration of Black Book’s valuation and enhanced vehicle matching VIN-Decoding data into Your Auto Advocate. The companies say that with the enhanced data provided, dealers and consumers will […] [Read More]

Continuing benefits such as members’ ability to receive real transactable price offers on actual inventory on the dealer’s lot, TrueCar has extended its current AAA Auto Buying Program, powered by TrueCar. With the extension, more than 41 million AAA members in select areas will have access to the TrueCar powered Auto Buying Program through the […] [Read More]