CarMax recently signed marketing partnership with Tom Brady’s football team, the New England Patriots. Now the company expanded its relationship with Peyton Manning’s gridiron squad, the Denver Broncos. CarMax highlighted the enhanced partnership with the Denver Broncos now includes extensive branding presence within Sports Authority Field at Mile High as well as media, digital and social […] [Read More]

To finalize the civil action with the multiple federal agencies connected with the faulty ignition switch recall, General Motors has one week to transfer $900 million into U.S. coffers. The settlement announced on Thursday also detailed federal investigator findings of how the OEM “actively concealed the truth” about those faulty ignitions in six discontinued models […] [Read More]

Are Tesla CPO vehicles available in stores? That’s a question a recent Business Finance News article looked to answer, as the news organization reported Tesla opened a new store and service center in South California for both new and pre-owned Tesla Model S vehicles. The news was originally published by the Orange County Register, who […] [Read More]

No, CarMax isn’t going to be checking if quarterback Tom Brady is throwing footballs that are fully inflated. Rather, CarMax finalized a partnership with the reigning Super Bowl champion New England Patriots on Tuesday to be the official used-car retailer of the team. As part of the multi-year sponsorship agreement, CarMax highlighted that the company will […] [Read More]

You can probably expect around an 800,000-unit increase in lease maturity volume next year, and those cars are likely to feed nicely into dealer lots as certified pre-owned units, says Joe Derkos of J.D. Power. But as far as how many CPO cars J.D. Power believes will be moving off of dealer lots next year … […] [Read More]

The July dealer survey conducted by KeyBanc Capital Markets showed that 88 percent of respondents enjoyed a used-vehicle sales increase year-over-year. Half of the stores that participated generated a used sales lift of less than 5 percent, while a quarter of the dealers told KeyBanc that they had a sales gain between 5 and 10 […] [Read More]

Are you seeing a lack of talented techs come through your doors? Many dealers are; the industry is buzzing about a shortage that may affect your bottom line for years to come. Mid-career mechanics are retiring, yet fewer schools are able to teach the advanced skills that today’s cars require, and there remains a stubborn […] [Read More]

For many customers, explains Rob Teitelbaum, buying a Mercedes-Benz can often be the celebration of a milestone event, like earning a medical degree, for example. There’s an excitement attached to that customer experience, and Teitelbaum – the new department manager for pre-owned operations at Mercedes-Benz USA – wants to make sure that same thrill exists […] [Read More]

As the month kicked off, FCA U.S. named a head of product planning, and Mazda North American Operations (MNAO) has chosen a director of design. Announced Tuesday, MNAO has picked Julien Montousse as director of design at its Irvine, Calif.-based design studio. In this new position, Montousse will oversee all of Mazda's North American design […] [Read More]

Chase Channell was the owner and operator of his own paint store in West Virginia when he happened to bump into a man at a downtown restaurant who was involved in automotive marketing. Channell, who opened the Elkins, W.Va., paint store at age 18, chatted with the man, who was in town for a tent […] [Read More]