Carvana said it would share an updated operating plan after it announced the cutting of approximately 2,500 workers last Tuesday. Well, that plan has been released, and it includes not only more details about the future of ADESA operations, Carvana also pinpointed its top two priorities for managing its business. Those priorities include: 1. Rapidly […] [Read More]

Catalytic converter theft now is getting attention on Capitol Hill. The National Automobile Dealers Association, joined by 12 industry partners, sent a letter on Monday to U.S. House Energy and Commerce Committee Chairman Frank Pallone (D-N.J.) and Ranking Member Cathy McMorris Rodgers (R-Wash.) in support of H.R. 6394, a bipartisan bill to combat rising catalytic […] [Read More]

Electric vehicles (EV) have become an extremely polarizing topic over the years. Every day there seems to be dozens, if not hundreds, of articles talking about this segment of the automotive market. However, EVs still make up less than 5% of the total number of cars and trucks sold today, according to the International Energy […] [Read More]

While Penske Automotive Group made moves connected with its shareholders, Castle Automotive Group (CAG) reinforced its executive leadership team in the past week. CAG, which currently owns nine dealership locations with 14 franchises throughout Illinois and Northwest Indiana, chose Sean Seltzer to lead its marketing strategy as chief marketing officer. Castle also promoted David Ortiz […] [Read More]

Vroom Inc. is realigning its business model to prioritize profitability over growth, reduce operational expenses and maximize liquidity, the company’s new chief executive Tom Shortt said during its first quarter conference call on Tuesday. The realignment also calls for company to reduce its employee head count by 270 or approximately 14%, said Bob Krakowiak, Vroom’s chief financial […] [Read More]

This dealer group roundup includes activities involving a franchised group and an independent group, both located in the Northeast. The McGovern Auto Group, which operates more than 19 dealerships across Massachusetts, New Hampshire and New York, announced the opening of McGovern Route 93 Hyundai. The new dealership, which replaces Bill Dube Hyundai, has 25 staff members […] [Read More]

While one dealer group broke ground on a new rooftop, another dealer group continued the ongoing trend of acquiring existing stores. Another development in what’s been a busy stretch for Sonic Automotive, the company recently held a groundbreaking ceremony to celebrate the start of construction of Audi Downtown Nashville, a two-story, 35,000-square-foot building located at […] [Read More]

Mike Maroone now is a strategic advisor to the board at motormindz, a highly specialized global automotive consultancy, which said his “name commands attention at every level of our industry.” A renowned entrepreneur, investor and auto retailer, motormindz highlighted through a news release on Tuesday that Maroone is regarded as one of the most influential […] [Read More]

On the same day the company closed its purchase of ADESA, Carvana announced via a filing with the Securities and Exchange Commission on Tuesday a workforce reduction of approximately 2,500 employees. Carvana said the workforce reduction is primarily in operational groups in connection with its previously announced plans “to better align staffing and expense levels […] [Read More]

As franchised dealer groups continue to ramp up their used-car operations, Yark Automotive Group has teamed up with Cox Automotive to launch Yark QuickBuy, an online pre-owned vehicle platform that allows consumers to complete a car-buying transaction digitally in as little as 20 minutes. Yark QuickBuy, which is powered by Cox’s Esntial Commerce technology, provides […] [Read More]