Avis Budget Group on Monday said its board of directors has appointed president of the Americas division Joe Ferraro as interim chief executive officer. Ferraro’s appointment was effective Wednesday and takes place in the wake of former president and chief executive officer Larry De Shon departing at the end of last year. The company also […] [Read More]

Asbury Automotive Group has agreed to buy Park Place Dealerships for $1 billion cash, excluding inventory, the public retailer announced Thursday. The deal gives Asbury a boost both in Texas and within the luxury market. Park Place’s operating assets include17 franchises, including 15 in the Dallas-Fort Worth market. One of those 17 franchises is an […] [Read More]

Group 1 Automotive has acquired what it says are the only Lexus franchises in the state of New Mexico. The company said it expects the two Lexus dealerships, located in Albuquerque and Santa Fe, to generate approximately $90 million in annualized revenues. Group 1, which owns and operates 186 automotive dealerships, 242 franchises, and 49 […] [Read More]

In promoting Chrissy Taylor to chief executive officer, Enterprise Holdings said that she will oversee its global strategy and operations. Taylor, who was previously president and chief operating officer, becomes the fourth chief executive officer in the company’s more-than-60-year history. She also represents the third generation of Taylor family chief executive officer leadership. Her father, […] [Read More]

Tier One Executive Search, which has focused on the automotive and manufacturing sectors for 20 years, said on Monday that it has named Elliott Duda as director of the company’s North American Retail Automotive Practice. Tier One senior partner Mark Thibodeau said in a news release that Duda has performed well on the manufacturing side […] [Read More]

Dealers are seeing their used-vehicle inventories grow, and for independents in particular, that is helping to create a rosier outlook. That was one of several findings in the Q4 2019 Cox Automotive Dealer Sentiment Index released Monday, which among other areas, covered the used-car operations of both franchised and independent dealers. Discussing overall results, Cox […] [Read More]

At Used Car Week in Las Vegas last month, senior editor Joe Overby caught up with Kerri Wise, who is vice president of industry education and industry relations. A frequent speaker at dealer events, Kerri shares her approach to sharing insights with dealers, her insights on used-car retail and digital, and more. Wise was one […] [Read More]

Carvana is building a $25 million vehicle inspection and reconditioning facility near Richmond, Va., the Virginia governor’s office announced Thursday. This is the second inspection and recon facility announced in the last four months involving Carvana, which recently began a similar project near Charlotte, N.C. It is estimated the Richmond-area recon facility will generate 400 […] [Read More]

Valeri Tompkins says that through a new Pentagon Federal Credit Union program, members can discover the Volvo brand “in an intimate way” through the PenFed Car Buying Service, which is powered by TrueCar. Tompkins is senior vice president at TrueCar, and she is referring to the Volvo PenFed Member Offer, which provides members of Pentagon […] [Read More]

Through a new program from the National Association of Minority Automobile Dealers, or NAMAD, dealers will be able to certify their non-branded used vehicles just as they do with their franchise brand certification. F&I product and services company C Berman Associates will produce and execute the program, and that company along with NAMAD will introduce […] [Read More]