On Wednesday, CarMax highlighted a commitment to providing community support and career opportunities to the nation’s military, veterans and their families. CarMax and The CarMax Foundation have pledged a total of $1.4 million spread over the next three years to organizations supporting the military, including Hiring Our Heroes, KaBOOM and The Mission Continues. CarMax joined […] [Read More]

It hasn’t even been a month since the National Automobile Dealers Association hosted its annual Convention & Expo in Las Vegas, but NADA’s staff is already looking ahead to the 2017 event in New Orleans. On Tuesday, NADA issued a call for 2017 convention workshop proposals, which the association described as one of the event’s […] [Read More]

Carvana is continuing to spring up throughout the Sunshine State as the online vehicle retailer set up shop in Miami on Tuesday, having already a presence in Jacksonville, Orlando and Tampa. Through this expansion into south Florida, the company estimated that it can deliver to nearly 44.7 million consumers nationwide, more than 5.1 million of whom […] [Read More]

As first reported by The Banks Report, Holman Automotive announced on Tuesday that it will acquire Kuni Automotive in a deal that executive say creates one of the largest privately owned dealer networks in the country. Holman added the deal also ensures a long future for a major charitable foundation. The dealer group highlighted the […] [Read More]

CarMax reported this week that its total used unit sales rose 4.0 percent in the fourth quarter and 6.5 percent during its fiscal year that finished on Feb. 29. The company’s network of 158 stores in 78 markets turned a total of 619,936 vehicles during the 2016 fiscal year, up from 582,282 units a year […] [Read More]

Federal regulators not only are suing Volkswagen; now members of its franchised dealer network are taking action. Three family-owned Volkswagen dealers filed a class action against the automaker on Wednesday stating that the OEM intentionally defrauded dealers by installing so-called “defeat devices” in its diesel vehicles, and separately carried out a systematic, illegal pricing and […] [Read More]

Readers who follow me in this periodical or by viewing my LotParty inventory learning shows know my hot buttons — forget “set and forget” pricing, never neglect to enrich online vehicle descriptions, and always respect the shopper by loading up lots of high-quality, 360-degree walk-around photos of every unit you market online.  Those are all […] [Read More]

Online auto retailer Carvana ventured into its third market in Florida on Tuesday, adding Tampa, Fla., to its list of places the company can reach consumers in the Sunshine State. With the launch of operations in Tampa, Carvana now can offer free, next-day delivery to anyone within 100 miles of the city. In total, the […] [Read More]

Toyota Certified Used Vehicles, as it turns out, is celebrating more than just its 20th anniversary in April. The CPO program — along with those at eight other brands, for that matter — just posted its best sales month of all time, according to Autodata Corp. And so did the overall industry.  As for Toyota, […] [Read More]

Victor O. Schinnerer & Co., a leading underwriting manager, launched on Monday what’s being called a new dealer open lot insurance program. The program is available to dealership clients and can provide coverage for owned inventory held for sale. The program, offered on non-admitted paper, is provided by a panel of Lloyd’s Syndicates backed by […] [Read More]