Lithia Motors, one of the six publicly traded dealer groups in the U.S. and the fourth largest auto retailer, is leading a $140 million round of Series D financing in Shift, an online automotive marketplace. The funding announced Thursday morning, which includes equity and debt, more than doubles Shift’s total financing of equity and debt, […] [Read More]

Carvana has grown its Oklahoma market presence with its latest market launch in the growing city of Tulsa. “Tulsa has a metro population approaching 1 million people, yet maintains a warm and welcoming local culture,” Carvana founder and chief executive officer Ernie Garcia said in a news release. The online used-vehicle retailer announced Wednesday that […] [Read More]

New vehicles from the 2018 and 2019 models are filling rows at franchised dealerships, but Autotrader spotted a half dozen financing offers that are making certified pre-owned vehicles stand tall at stores, too. This week, Autotrader compiled a list of what experts believe are the best CPO deals going in September, noting a mix of […] [Read More]

Group 1 Automotive has added a former Deloitte executive to its board of directors, bringing the total number of board members up to 10. The retailer announced Wednesday that joining its board effective immediately is Anne Taylor, who worked for Deloitte in such roles as its first chief strategy officer, managing partner of the Houston […] [Read More]

CarMax Inc.’s wholesale auction arm just extended its reach. CarMax Auctions is also mulling over allowing dealers that buy vehicles at its auctions in person to one day buy those vehicles online, said Fred Stark, CarMax assistant vice president of auction services. “Simulcast is certainly something we’re interested in testing,” he said. “It’s not something […] [Read More]

When it comes to running an auto dealership and all its moving pieces — especially the service department — communication is paramount. And improving that service department communication is where Singlethread comes into play. In this grand finale of our automotive conference season podcasts recorded in the first half of the year, Joe sat down […] [Read More]

Taking on a second term as chairman of the Greater New York Automobile Dealers Association (GNYADA) is a third-generation dealer. Lee Certilman, the co-owner of Long Island's Nardy Honda Smithtown dealership will focus on creating local jobs during another term as the association’s chair, GNYADA announced Friday. “My job over the next 12 months is to […] [Read More]

Perhaps if someone is shopping for basic transportation, online vehicle listings that present pictures and descriptions more than satisfies the potential buyer’s thirst for information. But with Porsche retailing high-end luxury models, the automaker is making sure individuals can experience more than just swipes on their smartphone when deciding. Porsche recently highlighted its large-scale commitment […] [Read More]

If your franchised dealership sits among a total of eight rooftops within a span shorter than a test drive, experts say that at least one operation — perhaps where you sit now — has gained new ownership during the past four years. And it appears that buy/sell pace could intensify. Kerrigan Advisors pointed to a […] [Read More]

On the day that Michael Bor found out CarLotz had made this year's Inc. 5000 list, the company was having a team meeting. So, Bor asked members of his squad where they thought CarLotz had placed. Somewhere in the 4,000s, they figured. As it turns out, they were off. By a lot. CarLotz ranked 460th on […] [Read More]