The economy is strong, the automotive industry is doing well and the market for buying and selling dealerships this year promises to be brisk.  So predict dealership brokerage firm managers who helped facilitate over 200 dealership sales transactions last year.  While noting that the market ultimately dictates what’s going to happen, the managers also said […] [Read More]

Basketball star and “Inside the NBA” TV host Shaquille O'Neal surprised recipients from the Business Women Empowerment Project, or BWEP, with a recent donation of a 2020 Kia Sorento. BWEP, a non-profit organization focused on providing women with access to resources to explore and expand their businesses, plans to use the new car in conjunction […] [Read More]

Tim Jackson says the mission of the Colorado Automotive Hall of Fame is to honor innovation, influence and contributions that Colorado dealers have made to the automotive industry and communities throughout Colorado. “Through the Colorado Automotive Hall of Fame, we honor the industry — past and present — and tell the stories of those who […] [Read More]

In this episode of the Auto Remarketing Podcast, senior editor Joe Overby talks with Seneca Giese, co-founder of Current Automotive, an online retailer of used electric vehicles. They talk about his remarketing and CPO background with Tesla, what sparked the idea for Current Automotive, the company's rapid growth and more. To listen to this episode, […] [Read More]

Lithia Motors generated double-digit gains in same-store used-vehicle retail sales during both the fourth quarter and all of 2019 at 17% and 14%, respectively. Dealer group management is eyeing even more growth this year and not just through what top Lithia executives called the “easy entrance point” of the used-vehicle space. Bottom line: Lithia wants […] [Read More]

During Penske Automotive Group’s fourth quarter earnings call that took place on Feb. 5, chairman Roger Penske wanted to comment early on about the company’s 2019 achievements. He noted that the company retailed more than 500,000 new and used units and increased its used-to-new ratio from 1.20 to 1.28. The company also opened two greenfield […] [Read More]

There is a new chairman at the American International Automobile Dealers Association. At AIADA’s 50th Annual Meeting and Luncheon on Monday in Las Vegas during NADA Show 2020, Washington state dealer Jason Courter officially stepped into this role for the association. Courter is the chief executive of Honda Auto Center of Bellevue and Honda of […] [Read More]

Clutch Technologies recently finalized an integration with one of its fellow companies within the Cox Automotive family along with two other relationships in the vehicle-subscription space. On Wednesday, Nissan announced it’s testing a subscription service model that’s being powered by Clutch. According to a news release, Nissan is launching what it’s called “on-demand driving” through […] [Read More]

With Lithia Motors president and chief executive officer Bryan DeBoer saying his company is excited to enter the Sacramento market “and further expand our network with a dominant luxury vehicle presence,” Lithia Motors announced it has acquired two Lexus stores in Sacramento and Roseville, Calif. Lithia expects those stores to generate $160 million in revenue. […] [Read More]

Jim Koons has long performed philanthropic work for Catholic Charities. Each year, Koons of Koons Ford in Falls Church, Va. provides gift cards to homeless people who attend a Thanksgiving and Christmas program for the displaced. He also makes financial contributions to a local Catholic high school, where he and his family attended. Those are […] [Read More]