As one wholesale market economist called the certified pre-owned market one of the “good guys,” another economist specializing in the wholesale space offered a recommendation to make the CPO segment even better, especially for franchised dealerships. KAR Auction Services chief economist Tom Kontos, NAAA chief economist Ira Silver and Cox Automotive chief economist Tom Webb participated […] [Read More]

AutoNation said Wednesday that Jon Ferrando — who is executive vice president – general counsel, corporate development and human resources — will retire from the company on March 31. Effective April 1, Coleman Edmunds will serve as acting general counsel and corporate secretary. He is currently AutoNation’s senior vice president and deputy general counsel. “I have enjoyed […] [Read More]

Penske Automotive Group said Tuesday it has bought the Jaguar and Land Rover dealerships in Paramus, N.J., from the Prestige Family of Fine Cars. Penske expects the purchase to generate about $215 million in annual revenues. "We are pleased with the opportunity to add the Jaguar and Land Rover dealerships in Paramus to the Penske Automotive […] [Read More]

Volkswagen absorbed significant monetary and reputation hits following controversy about emissions levels thrown by some of its diesel models. Kelley Blue Book senior analyst Alec Gutierrez considered the possibility Fiat Chrysler might face the same level of challenges since the automaker acknowledged it’s being investigated for a similar scenario. Included in the automaker’s latest filing […] [Read More]

Enterprise Fleet Management announced that out of nearly 900,000 automotive technicians working in the U.S. — its management customer support supervisor Kelley Hatlee is one of only 16 individuals to earn the 2017 ASE World Class Technician Award from the National Institute for Automotive Service Excellence (ASE) and the Auto Care Association. Fewer than 2,000 […] [Read More]

The National Automobile Dealers Association and the NADA Women Directors, in partnership with Junior Achievement USA, is teaching financial education courses to students through a volunteer program. The initiative, termed the NADA Financial Literacy Program, was launched during the NADA Convention in New Orleans in January. It grew from insight gathered over the past few […] [Read More]

A deeper look into the latest certified pre-owned vehicle sales information compiled by Autodata Corp. showed eight automakers that often generate some of the largest CPO volume are off to strong starts again in 2017. Of those eight OEMs, each one has posted year-to-date CPO sales gains of at least 8 percent. Leading the charge […] [Read More]

While industry observers spotted some factors impacting new-car sales, franchised dealerships produced strong results in moving certified pre-owned vehicles as the industry generated nearly a double-digit gain on a sequential basis. According to information supplied by Autodata Corp. on Wednesday, February’s CPO sales came in at 211,475 units; a figure relatively unchanged from the same […] [Read More]

Lithia Motors announced this week that Shau-wai Lam said he would be retiring from the dealer group’s board of directors at the completion of his term in April. Lam was formerly the chairman of DCH Auto Group, and joined Lithia's board when DCH was acquired in October 2014. Lam said he will now focus on […] [Read More]

eBay Motors announced on Tuesday it has recently added new partners to its Dealer Referrer Network, further expanding its selling platform to the U.S. dealer community. Through the Dealer Referrer Network, partners can sell eBay’s subscription packages to their existing dealer networks. eBay said increased dealer partners can ensure that buyers on its platform have a […] [Read More]