Roughly two-and-a-half months after it was announced that chairman and chief executive officer Mark Frissora resigned from the position for personal reasons, Hertz Global Holdings will have a new president and CEO effective Friday. Appointed to the post and to the company’s board of directors is John Tague, who was most recently chairman and CEO […] [Read More]

CarMax Inc. announced today the opening of its second store in Raleigh, N.C. The store, with more than 50,000 square feet, sits on over 16 acres of space and stocks more than 300 used vehicles. In preparation of the store’s opening, CarMax plans to donate $5,000 to the Boys & Girls Club of Wake County. […] [Read More]

Industry observers cheered this week’s move by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, which announced it is calling for a national recall of vehicles with certain driver’s side frontal air bags made by Takata. Regulators explained this decision is based on the agency’s evaluation of a recent driver’s side air bag […] [Read More]

Privately owned SoCal Penske Dealer Group announced this week is has acquired the assets of both Drew Ford and Drew Hyundai in La Mesa, Calif. Roger S. Penske Jr., SoCal Penske’s president, is committed to maintaining the legacy the Drew family has established during their time as owners of the dealerships. “We are thrilled to […] [Read More]

On Monday, the management team at Larry H. Miller Dealerships made its second acquisition in the Denver metro area this year and 10th acquisition in the last 18 months. Now the group’s eighth store in Colorado is Lakewood Fordland in Lakewood, Colo. Lakewood Fordland has been serving the Denver market since 1962, and recently celebrated […] [Read More]

ALG released the results of its 15th Annual Residual Value Awards (RVAs) this morning, and Land Rover and Toyota took the top honors for premium brand and mainstream brand, respectively. Toyota also lead the pack in segment awards, taking home eight RVAs. Honda and Subaru also performed well with three wins apiece. “Residual value is […] [Read More]

Wantalease.com has released a list of 16 popular vehicles that have November lease deals for less than $200 per month. According to the site, the current selection of lease deals below the $200 mark is the largest variety of makes and models at the price point all year. According to Scot Hall, Wantalease.com’s executive vice […] [Read More]

Back in October, Tesla Motors made its Model S lease offer even more enticing to potential buyers with a deal through US Banks that lowered the cost of leasing and gave shoppers the option to return the vehicle after three months. Consequently, potential lessees can now use the three-month lease escape as a type of […] [Read More]

With vehicle technology advancing at a rapid pace — growing more complex with every year — the role of product specialist in dealerships is becoming more important and playing a larger role in the sales process. This assertion was highlighted in the 28th annual J.D. Power 2014 U.S. Sales Satisfaction Index Study results, which were […] [Read More]

Experian Automotive released an analysis this week of the most prevalent areas of the country for leases and certified pre-owned sales. Unsurprisingly, the areas with the highest rates of leases compared to overall new-vehicle registrations were larger metropolitan areas. Top 5 Metropolitan Areas, New-Vehicle Lease Penetration (Experian) Detroit – 67.9 percent New York – 49.8 […] [Read More]