In the current automotive retail market, many dealer principals are considering expansion, and it is estimated that there are currently eight buyers for every dealer considering a sale of the business. This imbalance is driven by a unique confluence of factors: deep cash reserves from the “golden years” of 2021-2024, a trending plateauing interest rate […] [Read More]

Feldman Automotive Group made its biggest deal yet. The dealership group, based in New Hudson, Mich., has acquired Firelands Auto Group from Patrick O’Brien, a transaction that includes four stores in Northern Ohio. The addition of Firelands Chrysler Dodge Jeep Ram, Firelands Toyota and Firelands Honda in Sandusky, and Firelands Chevrolet in Vermilion brings Feldman’s […] [Read More]

Hertz is known for renting cars, but its future is in sales. The latest new venture for Hertz Car Sales is a digital retail presence on eBay, one of the world’s largest online automotive marketplaces, which “advances Hertz’s strategy to make retail its primary sales channel,” the company said in a news release. The company […] [Read More]

The six publicly traded car dealer groups have released their first-quarter operating results in recent days, and with that, Auto Remarketing is recapping how the used-car department fared at each retailer. We continue with the second of three parts of the analysis, recapping the results at Lithia & Driveway and Penske Automotive Group. The opening installment included […] [Read More]

The torch has officially been passed for Asbury Automotive Group. David Hult, the Atlanta-based dealership group’s president and CEO since 2018, has transitioned to the position of executive chairman effective today, ceding the president/CEO role to chief operating officer Dan Clara. Asbury announced the leadership transition plan late last year. “During his tenure, David Hult […] [Read More]

The six publicly traded car dealer groups have released their first-quarter operating results in recent days, and with that, Auto Remarketing is recapping how the used-car department fared at each retailer. We’re breaking this recap up into three parts, starting with AutoNation, Asbury Automotive Group and Group 1 Automotive. AutoNation boosts sales of late-model units […] [Read More]

Fletcher Jones Automotive Group knows its sweet spot, and it’s added another dealership that fits squarely in it. The Newport Beach, Calif.-based dealership group has purchased Mercedes-Benz of Beverly Hills from Group 1 Automotive, according to the Presidio Group, which advised the seller in the transaction. “This acquisition is a natural next step for Fletcher […] [Read More]

As consolidation continues in the dealership world, easily moving used inventory between stores is becoming increasingly important to a seamless customer experience. One dealer management system is structured so that dealers using it can not only more easily sell used inventory, but also integrate their AI vendor, or vendors, of choice to help do so. […] [Read More]

Carvana set sales and revenue records during the first quarter, and founder and CEO Ernie Garcia highlighted how ongoing improvements in reconditioning are putting the online used-car retailer on a path to selling 3 million vehicles annually. Carvana reported late Wednesday that it retailed a record 187,393 units during the first quarter, representing a 40% […] [Read More]

Ed Morse Automotive Group has grown again, acquiring Graven Chrysler Dodge Jeep Ram in Lebanon, Mo., from the Graven family. The dealership, which has been renamed Ed Morse Chrysler Dodge Jeep Ram, is the 11th in Missouri for Ed Morse, and its third in Lebanon. The Florida-based dealership group now operates 60 franchises in 54 […] [Read More]