Accrual Equity Partners is bringing another experienced car guy into its fold. The automotive industry private equity firm announced it has added James “JT” Taylor, who most recently led the Truist Securities automotive retail investment banking practice, as a managing partner. AEP said Taylor will collaborate with its portfolio companies to drive growth, expansion, technology […] [Read More]

A longtime automotive executive has launched a co-op to provide individual dealers with the bargaining power of a dealer group. AutoTrust Dealer Alliance calls itself a first-of-its-kind, 100% dealer-owned cooperative, designed to give dealers “the scale and profitability of a large public group while preserving full independence and control.” In a news release, AutoTrust said […] [Read More]

It’s official: Lithia & Driveway is now a major player on the world stage. The company, which operates some 450 locations in the U.S., Canada and the U.K., has made its first appearance in the Fortune Global 500, which the magazine calls “the definitive list of the world’s largest corporations.” LAD made its debut at […] [Read More]

As has become routine, the launch of a Carvana/ADESA integrated auction-reconditioning facility has begotten the expansion of Carvana’s same-day delivery service. The online used-car retailer announced it is bringing the service to the Seattle area in the wake of the July announcement that it was adding an inspection and reconditioning center to the ADESA Seattle […] [Read More]

Lucid Group has reached the next stop on its ride with Uber. The electric vehicle manufacturer said it has closed on a $300 million investment from Uber Technologies as part of Uber’s next-generation premium global robotaxi program, announced in July. The program aims to deploy 20,000 or more Lucid vehicles equipped with Nuro Inc.’s Nuro […] [Read More]

Two of Ohio’s top Lexus dealerships are under new ownership. Ken Ganley Automotive Group has acquired Metro Lexus in Cleveland and Lexus of Akron-Canton — two of the Cleveland area’s three Lexus dealerships — from Ascent Automotive Group, according to Kerrigan Advisors, which represented the seller in the transaction. The advisory firm said Metro Lexus […] [Read More]

For the second consecutive year, Asbury Automotive Group has been named one of the World’s Most Trustworthy Companies. Asbury, which operates 145 dealership locations and 37 collision repair centers as well as F&I provider Total Care Auto, ranked 54th among retail businesses on the annual list, compiled by Newsweek in collaboration with statistics portal Statista. […] [Read More]

There’s a new president at Carfax. Chief operating officer Scott Fredericks has taken on that role, a move that was effective Wednesday, parent company S&P Global announced. Fredericks succeeds Bill Eager the former CEO of Carfax, who became president of S&P Global Mobility on Aug. 15. Eager will become CEO designate of Mobility when Mobility […] [Read More]

The National Football League season is about to begin. And Toyota is all in. In its third season as the Official Automotive Partner of the NFL, Toyota North America is launching what it called its “most ambitious commitment yet to deliver unrivaled fan excitement, community impact and unforgettable cultural moments” from the opener through Super […] [Read More]

For some folks, putting together furniture might sound like a nightmare activity. Well, Mercedes-Benz USA tried to turn the process into something fun and beneficial for others. The OEM hosted an employee cookout in advance of Labor Day weekend. The event also brought together employees and their families for an afternoon of camaraderie and community […] [Read More]