LMP Automotive Holdings has named a new chief financial officer, promoting senior corporate controller Robert Bellaflores to the role. Bellaflores has held that position since April, and was a senior-level executive in the projects division at Steven Douglas & Associates before joining LMP. He had been there since 2006. Bellaflores’ background also includes time as […] [Read More]

CarLotz is opening its second hub in California, with this one serving the Los Angeles area. The company said Tuesday it plans to open the Pomona, Calif., hub location later this year. Its other Golden State hub is in Bakersfield, which opened last week. “We were confident that CarLotz’s consignment model would fill a void in […] [Read More]

Asbury Automotive Group has hired a Group 1 Automotive executive as its new chief financial officer. The retailer said Tuesday that Michael Welch, who was most recently vice president and corporate controller at Group 1, will be the new Asbury senior VP and CFO effective Aug. 9. Welch had been with Group 1 since 2000 […] [Read More]

The flurry of dealer group moves continued with activities in California and Texas involving Qvale Automotive Group and Principle Auto. According to a news release from the Presidio Group on Thursday, the investment bank specializing in mergers and acquisitions, capital raising and investments in the auto retail and consumer mobility sectors exclusively advised Bruce Qvale […] [Read More]

A new chairman for the association representing car dealers in the Big Apple, a San Antonio dealer group using the Texas sun for energy and a Pennsylvania group adds to its store count. Those are among the latest movements among dealer groups this week. Starting with the Greater New York Automobile Dealers Association, the group […] [Read More]

Three large dealer groups are having a busy finish to June, not just related to meeting monthly and quarterly sales and revenue objectives. Lithia & Driveway acquired another franchised dealership, a top Asbury Automotive Group resigned and Holman Automotive opened a luxury brand rooftop. Beginning with Lithia, the publicly traded group announced its third store […] [Read More]

No matter if your dealership customers are looking for a practical crossover, a rugged pickup truck, a fun performance car or anything in between, Autotrader thinks the current used market still has excellent options despite the industry turmoil over microchips and high wholesale prices. To help your potential buyers find that perfect match, Autotrader named […] [Read More]

Four days after announcing plans to build its first hub in Georgia, CarLotz said Monday it has opened three new hubs, including its first in California. The new hubs are in Bakersfield, Calif.; Clearwater, Fla.; and Highland Park, Ill. The addition of these three hubs in California, Florida and Illinois means CarLotz now has 15 […] [Read More]

“The Mailman” now is delivering Toyota, Ford, Lincoln and Chevrolet vehicles in Arkansas. Karl Malone, who had that nickname while playing basketball in the NBA for 19 years, grew his business this week with the Karl Malone Auto Group by acquiring three new-vehicle franchises in El Dorado, Ark. According to a news release, the Teague […] [Read More]

CarLotz reached the closing stage of a busy second quarter by announcing plans to open its first hub in Georgia. On Thursday, the consignment-to-retail used vehicle marketplace highlighted this new hub will provide CarLotz’s customers in the greater Atlanta area with easy access to its service, value and inventory. The company said this new hub […] [Read More]