Vroom chief executive officer Paul Hennessy has stepped down from the company to pursue other opportunities, the online retailer announced Monday afternoon. Replacing Hennessy as CEO is Tom Shortt, who was previously Vroom’s chief operating officer. Tapped as independent executive chair of the board is Robert Mylod. The CEO move was approved by the board […] [Read More]

Group 1 Automotive and Penske Automotive leaders spoke during their respective companies’ earnings calls last month about the various supply chain and consumer demand issues that have taken place since the start of the pandemic a couple years ago. One of the similarities between the two companies’ quarterly earnings reports … [Read More]

EchoPark Automotive Tampa is about to get much more colorful, thanks to the creativity of local high school students. The location, which is part of Sonic Automotive’s segment that specializes in retailing used vehicles, announced the winners of its student mural contest to celebrate cars and the importance they play in our everyday lives. The […] [Read More]

In this month’s edition of BHPH Report, Bill Elizondo of the National Independent Automobile Dealers Association mentioned the growing trend of catalytic converter theft as part of this feature story about reconditioning. So just how prevalent is catalytic converter theft? According to a news release distributed this week by CARFAX, the National Insurance Crime Bureau, […] [Read More]

Aggressive dealership acquisition strategies and consumer-centric digital buying platforms  helped Asbury Automotive Group and Lithia & Driveway deliver record earnings and revenue in their respective first quarters of 2022. In fact, Asbury’s 2021 dealership buying spree catapulted it past its previous five-year acquisition target in the first year of the plan. That led the Duluth, […] [Read More]

AutoNation reported its first-quarter results in mid-April, sharing a solid start to the year for used-car sales and more Sonic Automotive announced its Q1 performance shortly after. Sonic’s highlights included quarterly revenues hitting record levels. The following explores both auto retail giants’ respective performances during the quarter, and their plans for the future amid a […] [Read More]

Penske Automotive Group has added two new brands to its existing portfolio in the Indianapolis market with the acquisition of Terry Lee Hyundai and Genesis in Noblesville, Ind. The purchase bumps Penske’s total expected acquired annualized revenue this year to roughly $745 million. “We are pleased to add the Hyundai and Genesis brands to our […] [Read More]

Continuing our series of special episodes of the Auto Remarketing Podcasts featuring general sessions from this year’s Auto Intel Summit — an added benefit for Cherokee Media Group Premium Members — we share a presentation about another way to retail vehicles. In a keynote presentation, Chip Perry of A2Z Sync asks the question: “Is one-person […] [Read More]

Quantum5 reinforced its executive management team on Monday. The company that offers a platform designed "to transform dealership training and bridge the gap between the traditional and digital customer" announced the hiring of Blair King as its new vice president of marketing and Matt Montgomery as its vice president of accounting and finance. King, who […] [Read More]

In this episode of the Auto Remarketing podcast, we catch up with former Cox Automotive analyst Zo Rahim, who is the founder and chief executive officer of CPyO.  This new site, which has launched in Atlanta, is designed to help dealers increase visibility of their certified pre-owned vehicles for sale, help automakers boost awareness of their certified programs […] [Read More]