Graham Holdings Co. — an education and media company whose operations include educational services, television broadcasting, online, print and local TV news, home health and hospice care as well as manufacturing — recently decided to diversify its portfolio even more. And in doing so, the company decided to get into the retail car business. Graham […] [Read More]

Perhaps dealers now shouldn’t be surprised if the operation they’re bidding against for specific vehicles in the wholesale market is Fair. Arriving amid all of the hubbub of NADA Show 2019, the car-as-a-service provider announced it closed a $50 million debt facility from Silicon Valley Bank (SVB) to buy vehicles for its users — the […] [Read More]

Craig Pollock, president of JM Lexus and group vice president of parent company JM Family Enterprises, added a veteran to be a key leader at the organization’s luxury dealership in south Florida. Joining JM Lexus as vice president and general manager is Mark Hoppe, who has taken over the reins from Jim Dunn, who held […] [Read More]

CarLotz had a Texas-sized celebration to commemorate its journey into the Lone Star State. On Jan. 19, the used-vehicle consignment and remarketing business held a grand opening celebration for its 22,000-square-foot store in San Antonio. The celebration marked the company’s move into Texas, and the new location has the capacity to house 350 vehicles. The […] [Read More]

It was the eighth straight year of record certified pre-owned car sales, amid an overall used-car retail market that is still seeing some strength. And while there are signs the used-car market may have peaked from a sales volume perspective, the feeling around last week’s NADA Show 2019 — and in recent forecasts and analyses […] [Read More]

After 31 years with Larry H. Miller Group of Companies, including the last four years as chief executive officer, Clark Whitworth is leaving Larry H. Miller Group to serve as a mission president for The Church of Jesus Christ of Latter-day Saints. Whitworth will stay on as chief executive officer through the transition process as […] [Read More]

In the second of six sessions recorded at Used Car Week for the Auto Remarketing Podcast, Joe Overby moderates the Off-Lease Effect panel discussion on the CPO market with Don Luke of Bill Luke Chrysler Jeep Dodge, Eric Shoemaker of Trophy Nissan and Basem Tartir of Mazda. The full discussion can be found below. And […] [Read More]

As it turns out, that car shopper at the dealership does want the salesperson by their side. Roadster, a commerce solutions provider for car dealers, partnered with Survata and Talk Shoppe for a study that surveyed more than 1,500 consumers and eight dealers across six brands. The gist of their findings is that while using technology […] [Read More]

We are getting closer to becoming a one-price society. Why? Because people want things automated. Rick Ricart believes that, but the president of  Ricart Automotive Group in Columbus, Ohio, also feels that if buyers want automated and fast transactions, then those buyers give up negotiation. “That’s what the trade-off is,” said Ricart, whose grandfather started […] [Read More]

In 2016, when Ricart Automotive sold 8,000-plus used vehicles, Rick Ricart figured: “We really don’t need to sell more used cars; we need to do a better job with the number we’re selling” and gross profits. But when the dealership group sold virtually the same number of used vehicles in 2017, Ricart concluded that those […] [Read More]