“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]

Culture and children continue to be among the focus areas of the organizations receiving financial support from the Nissan Foundation. The automaker’s philanthropic arm announced it is awarding $697,000 in grants to 28 nonprofit organizations for its 2021 grant cycle. According to a news release the nonprofit recipients are located in Southern California, Tennessee, Texas, […] [Read More]

Dealerships that have potential buyers who insist they want an American-made vehicle now can point them to Tesla. That’s correct, at least according to Cars.com’s 2021 American-Made Index (AMI) released on Wednesday. Tesla topped the site’s independent, annual list that ranks the new vehicles that contribute most to the U.S. economy based on criteria ranging […] [Read More]

Here comes what might be some welcome help for independent dealerships with service departments, or franchised stores that have a vehicle come through their service drive that’s outside of their direct factory purview. LKQ’s diagnostic services business — now branded Elitek Vehicle Services — is expanding its services beyond on-site mobile diagnostics and repair to […] [Read More]

Lithia & Driveway has extended its footprint to Mississippi through the purchase of Toyota of Jackson, the dealer group said Tuesday. Lithia expects the dealership to bring in annualized revenues of $95 million. Since announcing a five-year plan in 2020, Lithia is now at $7.6 billion in total expected annualized revenues acquired. “We are excited […] [Read More]

After falling more than 6% last year, look for the used-vehicle market to climb to 41 million sales this year.    That’s according to a forecast shared by Edmunds, which also detailed how pre-owned sales have fared over the last six years.    In 2019, used-car sales approached [Read More]

Turns out the vehicles on dealership lots nowadays aren’t the only things at stores soaring in value. Fueled in part by record-level dealership profits, Haig Partners said demand for stores is soaring as the average blue-sky value per rooftop has reached the highest values the boutique investment banking and buy-sell advisory firm has recorded. Haig […] [Read More]

Lithia Motors & Driveway continues to add to its store count, announcing the purchase of Southwest Kia Auto Group on Tuesday. The Texas group has five stores throughout the Dallas and Austin markets. Lithia expects the addition will bring in annualized revenues of $350 million. Since announcing a five-year plan in 2020, Lithia is now […] [Read More]

May was another strong month for used-car sales, as the industry continues to rebound. In fact, Cox Automotive indicated in a recent Data Point report that the SAAR was 41.0 million last month, up from 39.9 million a year ago and steady with April figures.    But how have overall used-car sales fared so far […] [Read More]