They might be some of the younger personnel at their dealerships, but they’ve already shown their ability to thrive in a variety of roles and responsibilities. This year’s Dealers Under 40, presented by CDK, hail from a variety of operations. Some honorees are already store general managers or leading executives for dealer groups. Others specialize […] [Read More]

In today’s automotive retail environment, staying competitive often requires significant capital investments, whether acquiring additional rooftops, investing in new technologies, or upgrading facilities to meet evolving OEM requirements. At Mach10 Automotive, we’re often asked how to best leverage real estate assets when the topic of expansion comes up. To fund expansion without taking on new […] [Read More]

Stellantis’ long search for a new CEO has ended. The automaker has named Antonio Filosa to its top executive position, ending a six-month search to replace former CEO Carlos Tavares, who resigned in early December amid declining sales and profits. Filosa will assume the CEO role effective June 23, when he will announce the company’s […] [Read More]

Denver is the latest market to get Carvana’s same-day delivery service. The online used-car retailer said car buyers in the Denver area can now take delivery of select vehicles as soon as the same day they’re ordered from Carvana.com, and customers selling their vehicles to Carvana can get same-day drop-off options after completing the online […] [Read More]

One of the highlights of this spring’s Auto Intel Summit was a panel of leaders from the venture capital/investment and automotive buy-sell/M&A advisory communities. Now available through this episode of the Auto Remarketing Podcast, these experts discussed buy-sell activity among dealers/dealer groups and investment in automotive technology from both the VC/investment and dealer communities. The […] [Read More]

Vehlo made a move to expand its reach into dealership service departments with the acquisition of Dealer Pay, a provider of dealer-specific payment processing systems. The auto repair industry software provider said the acquisition aims to boost its dealership service lane offerings with “seamless, dealer-focused payment solutions.” Presidio Technology Partners served as Dealer Pay’s financial […] [Read More]

Throughout my career in the automotive industry, I don’t know if I’ve ever seen such dependency for help as we have going on right now. I remember the late 1980s and early 1990s when I went through phone books and “cold calling” customers. Or better yet, using my old trusty rolodex. Deals were made on […] [Read More]

California’s zero-emission vehicle mandate is on the verge of disappearing. The U.S. Senate on Thursday voted 51-44 to revoke the waiver allowing California to enforce its Advanced Clean Cars II program, which requires all new cars sold in the state to be ZEVs — effectively banning the sale of new gas-powered vehicles — by 2035. […] [Read More]

NASCAR Hall of Famer Jimmie Johnson will make his 700th career NASCAR Cup Series start in this weekend’s Coca-Cola 600 at Charlotte Motor Speedway. Primary sponsor Carvana wants to make sure his No. 84 Toyota Camry is properly dressed for the occasion. The online used-car retailer has prepared a special paint scheme for the seven-time […] [Read More]

AutoNation has become the latest auto retailer to issue an asset-backed securitization. The company announced it has completed its first ABS through its captive finance company, generating $700 million in funding for its auto loan portfolio at a weighted-average fixed interest rate of 4.90%. CEO Mike Manley congratulated the AutoNation Finance team for “an excellent […] [Read More]