AutoNation said Friday it has named its next chief financial officer, bringing over Office Depot executive Joseph Lower. Lower, whose most recent post was Office Depot’s executive vice president and CFO, will take on that role at AutoNation starting Jan. 13 and report to chief executive officer Cheryl Miller. His background also includes time with B/E […] [Read More]

Carvana, the online used-car buying and selling platform launched in 2012 “to change the way people buy cars” is making good on that lofty promise if its third-quarter 2019 performance is an indicator. In his third-quarter earnings conference call with investors, co-founder, president, and chief executive officer Ernie Garcia III reiterated that promise. “Third quarter […] [Read More]

A familiar name has once again topped U.S. News & World Report’s CPO brand rankings. And it also continues a win streak on the pre-owned awards circuit. U.S. News Best Cars has named its Best Certified Pre-Owned Program award winner for 2020, and taking top honors for the fourth year is Lexus. (U.S. News Best […] [Read More]

Adjusted third-quarter 2019 earnings results from Group 1 Automotive reflected an after-tax cost of approximately $9 million associated with Tropical Storm Imelda. Many of the company’s employees “had their lives devastated” as a result of the severe flooding, said Group 1 president and chief executive officer Earl Hesterberg during the company’s earnings call on Oct. […] [Read More]

“We continue to be bullish on used.” AutoNation chief executive officer and president Cheryl Miller was answering a question about the AutoNation USA used retail stores from a participant in AutoNation’s quarterly earnings conference call on Oct. 29. In the third-quarter earnings calls for AutoNation and other publicly traded dealer groups, things were looking bullish […] [Read More]

Investment firms evidently like the prospects they see in dealerships as a pair of wealth-driven operations recently made acquisitions — with one transaction involving a member of the Top 100 Independent Dealers previously highlighted by Auto Remarketing. Cerberus Capital Management, which currently possesses more than $42 billion in assets, recently acquired an 80% interest in […] [Read More]

Lithia Motors has named a chief operating officer. Promoted to the position is Chris Holzshu, who was most recently executive vice president, where he led regional platforms and operations teams. Holzshu was Lithia’s chief financial officer from 2010 to 2016. His tenure with the group also includes time as chief human resources officer.  “Throughout his […] [Read More]

Veteran paratrooper and Army Sgt. First Class Centra “Ce-Ce” Mazyck’s military career took a turn for the worst when she became paralyzed from the waist down after a crash landing during a parachute jump. Doctors told her she would never walk again, but Mazyck was determined and can now walk with the help of forearm […] [Read More]

A new National Independent Automobile Dealers Association member benefit program helps participating association members incorporate their independent dealerships. The new program is titled, NIADA Business Incorporations. On behalf of association members who participate in the new program, NIADA, in partnership with Deluxe Corporation, will handle 100% of the filing, updates and paperwork. Incorporation is one […] [Read More]

Through the Tribute 2 Veterans presented by Autotrader program, friends and family of former service members can submit a veteran’s name to be featured on the No. 2 Autotrader Ford Mustang during the March 2020 race weekend at Atlanta Motor Speedway. Brad Keselowski will pilot the vehicle, and Brad Keselowski’s Checkered Flag Foundation and Autotrader […] [Read More]